Hi BETOPEN,
I have a couple of questions regarding your ICO. I've been following this ICO for a while, and I'm confused... there seems to be no detailed explanations on how investors can monetize, or profit long-term on their investment in your company. How will the profit share work?
All I've read so far is essentially (paraphrase) "give us $; and we'll give you a potentially unsellable token, and a profit share on a balace sheet that we may or may not ever show you some day". Usually a detailed business plan should be offered to entice investment. Where can I find more details?
VALUATION:
How can the valuation of each coin be $10 if the demand for ico token has been relatively low?
We know there's a relatively low demand because the 100000 tokens weren't divided equally amongst the
Initial investors who bought out from the original ICO release (July 26, 2017 end date). As of this morning, there were 46 holders of BETOP tokens since the initial June ICO, (hence the "extension" I'm guessing). Most legitimate ICO's would have established valuation from this pool of 46. According to Ethplorer.io, there are 102834 BETOP tokens total, of which 97168 have been retained (not sold), and 5666("value" of $56,660 approx.) sold to investors. BETOPEN should have divided $56660 by 100000 tokens. This would give a real valuation of about .56666 cents a token. Instead of doing this, Betopen seems to have given a $10 valuation as a type of share in the company, because if not, the token is virtually worthless... unless you can explain better. Any demonstration of a business plan would be welcome. This token cannot be traded because it was never initially divided equally to establish a true valuation.
How would my investment in BETOPEN be traded or cashed out if need be? Since Betop tokens were never divided, and 97% are still owned by the company, the token cannot be on any real market. Also, the indefinite extension of the ICO is not fair to the true "initial investors". From what I gather, your arbitrary $10 valuation seems baseless. I have seen no business plan other than "invest and get tokens at $10 per token", this scares me into thinking that its a junk coin . How can a value be given to a token that cannot has never been fully released, or cannot be sold??
I want to be wrong, but I'm afraid my analysis is spot on. Again, any detailed information would be nice to have, because this seems like a scam at the moment. Thank you for your patience, and I'm not here to hate... unless you're screwing your investors.
Thanks for your detailed feedback.
We've got some basic achievements and plans overview:
https://docs.google.com/document/d/14j2FZoxcC9HZ9KhbSbrf-eHZ1BIjwd18GBu2xR7twtY/edit?usp=sharingThe $10 price per token is our goal and that's why we've offered only 100000 tokens instead of tens or hundreds of millions. We want it to be more rare and special.
At our initial sale we've seen that there's interest of the investors, but because of the lack of some huge promotional experience etc. we need more time to increase the sales, establish partnerships and increase promotions to attract more investors and sell more tokens, which would be benefitial for all initial investors, bounty participants and new investors as well.
After we'll complete sale of the tokens we'll push them to be listed on exchanges, so investors could benefit right after this. And at the same time, token holders will start receiving detailed quarterly financial reports and their positive profit share on availability(divided correspondingly to their share, as 100000 of BETOP is representing 10% of company net profit).
So in the long term investors would benefit if they want to trade tokens, and as well receive corresponding profit share if they'll hold their tokens.
Also you can note, that unlike a lot of other project ICOs, that are raising money for something that they want to create in the future and don't even got any working prototypes often, we've invested a lot of time and funds and have already created working platform with a lot of awesome outstanding features that users are enjoing.
P.S. Maybe you can also give some advice from your experience, about how to attract a lot of investors and sell more tokens faster with awesome promotions, so investors could benefit in short term as well.
