SALT Community Membership

[Brighty]

well i bought it on exchanges.. maybe u had to do more research before buying..

[1714600397]

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[1714600397]

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[1714600397]

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[DraGonD]

DId someone look at the 1st tier at which Salt was sold at? Its was 25 cents, yes correct, you read it right - 25cents. Some people were even kicked out from the official telegram chat to point out that it was cheaper to buy salt from etherdelta exchange than the official website!

This is the alarming part. Kicking people off official channels when questions were raised is just lowlife tactics.
Im glad i didnt buy in to this hype by the fanboys and shills. Insiders, aka friends of DEVS buys it for just $0.25c cents?? and this is supposed to be fair?
Feel sorry for people buying into a bullshit ICO controlled by whales.
Hopefully ICO's like this will get banned from any and all platforms. I for one will be informing everyone around me about this Scam coin/token.

[ManuBBXX]

Is it the right time to buy now at 5.3$ ?

[Vega]

I love the newbie army that knows what's what.
Just a few quick corrections. People are not being kicked for wanting to discuss (ie: complaning about the unfairness of life) lower tier, the full structure and amounts sold were disclosed two months ago and was discussed to death. People buying at $5, $7.5, $10 already knew all this if they spent more than 5 minutes researching before putting money into the project.

What will get you banned is discussing price and exchanges repeatedly after asked not to. This is also not a new development it has been the policy from the very beginning, as SALT is an US based company have a bunch of lawyers advising them, trying their best not to be a security and to follow any law and SEC guidelines.

Due to regulatory compliance, there are few topics we cannot comment on and will delete questions regarding:
- exchanges and secondary markets
- future appreciation of Memberships
- speculative value of Memberships

This message or some variation of it were posted countless times in the last months, if someone ignores that, they should be banned.

Few more things. All ICOs controled by whales, deal with it. The only difference is that most of the times the pre-sales are a lot less public (although granted the discounts are usually much less steep), but people with money and connections will get better deals, that's life.

Complaining about how the team were allowed to buy at a low price is very funny when in contrast most projects just allocates a good portion of the supply to give out to the team for "free". Not to mention various advisors, partners, exchanges, etc that most of the times also get free coins. Yet, here they paid for it.(Also 50% of the tokens bought by the team is vested for a year.)

It's all about context. If you hear about a crowdsale where avarage people got in at drastically lower price, you should be very wary, because ICO flippers will run like hell with that kind of profit within seconds that it hits the exchange. But when the team, investment groups, exchanges, future partners, etc bought up most of the cheap stuff, well they will much more likely to hold. Just look at the exchange action so far. Yes it didn't open at $10-$15-$25 price level, but why would it when ppl who didn't get to invest their pocket money whine about it endlessly and spread missinformation for days? Those people were predicting massive dumps, thus keeping the initial price low. Yet what happened? The dump was minimal, much less than it usually is after a new ICO coin gets on an exchange. Why? Because most of those early investors are not interested in a quick profit, not even for the current 10-12x, as they know exactly what they invested in, and they have patience.

[Brighty]

Indeed have patience.. this thing can reach easily to $100 per token.. its a gamechanger and totally new for the cryptospace. Give it a year:D

I love the newbie army that knows what's what.
Just a few quick corrections. People are not being kicked for wanting to discuss (ie: complaning about the unfairness of life) lower tier, the full structure and amounts sold were disclosed two months ago and was discussed to death. People buying at $5, $7.5, $10 already knew all this if they spent more than 5 minutes researching before putting money into the project.

What will get you banned is discussing price and exchanges repeatedly after asked not to. This is also not a new development it has been the policy from the very beginning, as SALT is an US based company have a bunch of lawyers advising them, trying their best not to be a security and to follow any law and SEC guidelines.

Due to regulatory compliance, there are few topics we cannot comment on and will delete questions regarding:
- exchanges and secondary markets
- future appreciation of Memberships
- speculative value of Memberships

This message or some variation of it were posted countless times in the last months, if someone ignores that, they should be banned.

Few more things. All ICOs controled by whales, deal with it. The only difference is that most of the times the pre-sales are a lot less public (although granted the discounts are usually much less steep), but people with money and connections will get better deals, that's life.

Complaining about how the team were allowed to buy at a low price is very funny when in contrast most projects just allocates a good portion of the supply to give out to the team for "free". Not to mention various advisors, partners, exchanges, etc that most of the times also get free coins. Yet, here they paid for it.(Also 50% of the tokens bought by the team is vested for a year.)

It's all about context. If you hear about a crowdsale where avarage people got in at drastically lower price, you should be very wary, because ICO flippers will run like hell with that kind of profit within seconds that it hits the exchange. But when the team, investment groups, exchanges, future partners, etc bought up most of the cheap stuff, well they will much more likely to hold. Just look at the exchange action so far. Yes it didn't open at $10-$15-$25 price level, but why would it when ppl who didn't get to invest their pocket money whine about it endlessly and spread missinformation for days? Those people were predicting massive dumps, thus keeping the initial price low. Yet what happened? The dump was minimal, much less than it usually is after a new ICO coin gets on an exchange. Why? Because most of those early investors are not interested in a quick profit, not even for the current 10-12x, as they know exactly what they invested in, and they have patience.

[Dorky]

Why is everyone so "SALTY" about the $0.25 tokens?

This happens to virtually every ICO.

Founders and early investors get tremendous deals.

Nothing new.  It will continue to happen.

A word of investment advice:  stop looking at the rear view mirror and LOOK AHEAD.

Every now and then, I actually try to find justifications on why I should buy.
So far I can't find any justification for a buy, regardless of any price level.
The reason is simple.
SALT project aims to instill borrowing by using your crypto asset as collateral for funding.
The thing is this... the market is not suitable for such funding structure; borrowers may go broke fast in such a highly volatile market.
The ones that borrow aren't really the SMEs; the SMEs are business owners and they are street smart people, not some dumbass like you and I.
Even if the SMEs are desperate for borrowing, there are far better alternatives out there that easily make the SALT lending project obsolete.
Asset tokenization, I believe is the next big thing, but what SALT lending is doing is not asset tokenization.

[Dorky]

Complaining about how the team were allowed to buy at a low price is very funny when in contrast most projects just allocates a good portion of the supply to give out to the team for "free". Not to mention various advisors, partners, exchanges, etc that most of the times also get free coins. Yet, here they paid for it.(Also 50% of the tokens bought by the team is vested for a year.)

Did SALT ICO not reserved any supply to the team?

If so, maybe that's a good justification that insiders are getting it for 0.25.
But if the ICO already reserved a portion to the team, and yet another portion (who knows if the insiders never even need to pay for it) was made available for them as well at 0.25, then I say such deal is just way too sweet in comparison to many other ICOs.

The problem with the pricing tier was actually made known to the team while the ICO was still running at $1.50.
So if anyone wants to claim the team was ignorant of such problem, is not really valid.

[Vega]

Complaining about how the team were allowed to buy at a low price is very funny when in contrast most projects just allocates a good portion of the supply to give out to the team for "free". Not to mention various advisors, partners, exchanges, etc that most of the times also get free coins. Yet, here they paid for it.(Also 50% of the tokens bought by the team is vested for a year.)

Did SALT ICO not reserved any supply to the team?

If so, maybe that's a good justification that insiders are getting it for 0.25.
But if the ICO already reserved a portion to the team, and yet another portion (who knows if the insiders never even need to pay for it) was made available for them as well at 0.25, then I say such deal is just way too sweet in comparison to many other ICOs.

I don't think so. At least it wasn't in their abstract or in any of their statements, it's always only two items. The amount(s) sold and the amounts left in reserved to be available for sale the public after the platform launched. From what I seen so far they are super paranoid about keeping it legal and above board, I would be shocked to learn that they omited this.
A lot of the delays, feet dragging, overly cautious approach been obviously been because they are constantly consulting with lawyers about things, looks like they are very aware that sooner or later they will need to be accountable for SEC and who knows that else as an US company.

One of those things that they were very adamant about it from the beginning that it's not an ICO but a discounted membership sale and how the token is for to be used for paying for membership and other services and not for speculation or trading. It's bullshit of course as I don't think they allowed people to buy hundreds of thousands of tokens and when like "Oh, that guy must want to make sure that he has yearly fees covered until the year 202,017, smart!", but they still went through this and several other dances.

I'm not saying this whole sale were flawless, (as a matter of fact I caught them winging it more than a few times, although it were probably not that obvious for someone who haven't themselves been part of a crowdsale before and know what to look for) they made several mistakes and I agree that the too great difference between tiers were one of them.
It's just that I don't expect it to matter much in the long run. There were a good amount of ICOs that made greater return than it would be from $0.25 to even $20 (not to mention in reallity it's more like $0.4, as the bitcoin price at the time of the 0.25-0.75-1.5 tiers were around $2500) and nobody cares a few months after the fact.

Most of those tokens seem to be in more steady hands than the avarage ICO flippers and on the long run for a token that has actually utility, expecially for a platform this close of being launched, the price will be determined by demand (and hype as this is still crypto).
We'll see this is pure speculation on my part, you never know with these projects.

[dansan]

The CEO, or creator of this coin obviously has a deep vision of what this coin will be.
Watch his talk that is on YouTube. It goes in deep detail of what he thinks this coin will be and what it solves.
Also the whitepaper and team looks pretty decent.

The 0.25$ thing is a bit sketchy, but that is something you need to evaluate yourself.
I don't know if it has any future implications, or will make it collapse at some point.

[anahata]

Complaining about how the team were allowed to buy at a low price is very funny when in contrast most projects just allocates a good portion of the supply to give out to the team for "free". Not to mention various advisors, partners, exchanges, etc that most of the times also get free coins. Yet, here they paid for it.(Also 50% of the tokens bought by the team is vested for a year.)

Did SALT ICO not reserved any supply to the team?

If so, maybe that's a good justification that insiders are getting it for 0.25.
But if the ICO already reserved a portion to the team, and yet another portion (who knows if the insiders never even need to pay for it) was made available for them as well at 0.25, then I say such deal is just way too sweet in comparison to many other ICOs.

I don't think so. At least it wasn't in their abstract or in any of their statements, it's always only two items. The amount(s) sold and the amounts left in reserved to be available for sale the public after the platform launched. From what I seen so far they are super paranoid about keeping it legal and above board, I would be shocked to learn that they omited this.
A lot of the delays, feet dragging, overly cautious approach been obviously been because they are constantly consulting with lawyers about things, looks like they are very aware that sooner or later they will need to be accountable for SEC and who knows that else as an US company.

One of those things that they were very adamant about it from the beginning that it's not an ICO but a discounted membership sale and how the token is for to be used for paying for membership and other services and not for speculation or trading. It's bullshit of course as I don't think they allowed people to buy hundreds of thousands of tokens and when like "Oh, that guy must want to make sure that he has yearly fees covered until the year 202,017, smart!", but they still went through this and several other dances.

I'm not saying this whole sale were flawless, (as a matter of fact I caught them winging it more than a few times, although it were probably not that obvious for someone who haven't themselves been part of a crowdsale before and know what to look for) they made several mistakes and I agree that the too great difference between tiers were one of them.
It's just that I don't expect it to matter much in the long run. There were a good amount of ICOs that made greater return than it would be from $0.25 to even $20 (not to mention in reallity it's more like $0.4, as the bitcoin price at the time of the 0.25-0.75-1.5 tiers were around $2500) and nobody cares a few months after the fact.

Most of those tokens seem to be in more steady hands than the avarage ICO flippers and on the long run for a token that has actually utility, expecially for a platform this close of being launched, the price will be determined by demand (and hype as this is still crypto).
We'll see this is pure speculation on my part, you never know with these projects.

This need to be accountable to SEC is keeping this coin from exchanges like Bittrex and Poloniex. No exchange will take the risk of listing a coin, which gives out fiat loan and disrupts traditional industry.

The other thing is, as of now this coin will only benefit US customers. What about rest of the world, who invested in this, for the purpose of using this coin and not just for quick flip. They say they are planning to introduce it, outside US in near future. But they do not have any time frame.

My point being, you take money from all over the world, and giving services to only US customers. What incentive do we have to hold the tokens, if we are not going to use it?

[kohanvn]

Please kindly reserve Vietnamese translations, if needed, for me.

[Vega]

This need to be accountable to SEC is keeping this coin from exchanges like Bittrex and Poloniex. No exchange will take the risk of listing a coin, which gives out fiat loan and disrupts traditional industry.

You can't have it both ways. If all rules, laws, guidelines followed then they can't actively work on being added to exchanges as their position must be that they are only a membership. This on itself will not prevent exchanges for adding them, just the opposite, as all this positioning and rules are for not being labeled a security, the one thing that would truly stop an exchange to add them.
The real problem however is exchanges became freaking prima donnas (and for US exchanges since that SEC letter it's even worse). It's becaming increasingly difficult to be added to an exchange and most of the times takes a fair amount of money, connections and an active work from the project developers. So no, SALT won't be in dozens of exchanges, but I'm sure it will be added to some (more) significant ones in time.

As far as from serving only US costumers at the beginning while accepting money all around, well I totally agree with you. Altough there might be one additional insentive to hold, they said to introduce a staking opportunity soon. (when you get reward based on the amount of coin/token you hold)

[anahata]

This need to be accountable to SEC is keeping this coin from exchanges like Bittrex and Poloniex. No exchange will take the risk of listing a coin, which gives out fiat loan and disrupts traditional industry.

You can't have it both ways. If all rules, laws, guidelines followed then they can't actively work on being added to exchanges as their position must be that they are only a membership. This on itself will not prevent exchanges for adding them, just the opposite, as all this positioning and rules are for not being labeled a security, the one thing that would truly stop an exchange to add them.
The real problem however is exchanges became freaking prima donnas. It's becaming increasingly difficult to be added to an exchange and most of the times takes a fair amount of money, connections and an active work from the project developers. So no, SALT won't be in dozens of exchanges, but I'm sure it will be added to some (more) significant ones in time.

As far as from serving only US costumers at the beginning while accepting money all around, well I totally agree with you. Altough there might be one additional insentive to hold, they said to introduce a staking opportunity soon. (when you get reward based on the amount of coin/token you hold)

If staking is going to be introduced, then this will be a good hodl. As for adding to the exchanges part, Bittrex/polo etc needs intervention from team. And I do not think Salt team is going to pursue them looking at current scenario.

[Wombat-55]

When pre-sale investors (bought at $0.25~$1.5) withdraw and sell, maybe huge dump!
https://cdn-images-1.medium.com/max/1600/1*K2xEDykMaz1LNBstj8_b2Q.png

Interesting info. That works out to $0.94 average price. Without the first 2 tiers, the average price would be $2.66, still way below current price at EtherDelta.

Edit:
And in case you guys refer to the market depth of SALT to justify not selling, be informed that those who are sincerely out to sell will not quote anything in the order book, thus giving the false impression selling orders are thin.

Wow if I had known this I would have never applied after the ICO. The price I payed Is just huge compared to the pre-icos.
This explains why the current price is just dumping compared to my tier. I hope this wille eventually rise, although with that number of coins I seriously doubt it.
Must have been one of my worst investments so far. I hope the price on the exchanges will eventually rise to the 25$ the token is now selling at salt lending.

 
Hey, guys, you are all missing the obvious; THERE ARE NO SALES AT $25.00!!!  
  
Look at the prices and VOLUMES offered for sale; the pre-ICO rounds were MILLIONS of Tokens sold (to family/friends/investors or given to the Devs in exchange for time & effort) but once the POSTED price reached $10 there were only 25,000 per tier SUPPOSEDLY SOLD. Ah, WAKE UP! This is a very common Pump 'n' Dump TRICK! The insiders buy in low, promote it at much higher prices, so they can cash in on all the suckers who believe the artificially high price (and buy at the bargain price of only $6.50 expecting to make a killing).  
  
I bet NONE of the 25,000 per tier between $10 and $25 have actually been sold (fake stats to fool you). Think about it, who would buy them at that price when they can see them on the exchange for around $6?!? Either that or they used YOUR money (from Token Sales) to buy them to artificially increase the price. I suspect that is what they have done, the real irony of this method is it's like when you 'SALT THE MINE!' (Plant something of value (salt) into the deal (the depleted salt mine you're selling) to increase the sale price). If this isn't a scam I'll eat my hat, without salt. Good luck if you think you can make a fast buck selling to the next sucker but remember, you will need to find a sucker even dumber than you!  

[anahata]

When pre-sale investors (bought at $0.25~$1.5) withdraw and sell, maybe huge dump!

Interesting info. That works out to $0.94 average price. Without the first 2 tiers, the average price would be $2.66, still way below current price at EtherDelta.

Edit:
And in case you guys refer to the market depth of SALT to justify not selling, be informed that those who are sincerely out to sell will not quote anything in the order book, thus giving the false impression selling orders are thin.

Wow if I had known this I would have never applied after the ICO. The price I payed Is just huge compared to the pre-icos.
This explains why the current price is just dumping compared to my tier. I hope this wille eventually rise, although with that number of coins I seriously doubt it.
Must have been one of my worst investments so far. I hope the price on the exchanges will eventually rise to the 25$ the token is now selling at salt lending.

 
Hey, guys, you are all missing the obvious; THERE ARE NO SALES AT $25.00!!!  
  
Look at the prices and VOLUMES offered for sale; the pre-ICO rounds were MILLIONS of Tokens sold (to family/friends/investors or given to the Devs in exchange for time & effort) but once the POSTED price reached $10 there were only 25,000 per tier SUPPOSEDLY SOLD. Ah, WAKE UP! This is a very common Pump 'n' Dump TRICK! The insiders buy in low, promote it at much higher prices, so they can cash in on all the suckers who believe the artificially high price (and buy at the bargain price of only $6.50 expecting to make a killing).  
  
I bet NONE of the 25,000 per tier between $10 and $25 have actually been sold (fake stats to fool you). Think about it, who would buy them at that price when they can see them on the exchange for around $6?!? Either that or they used YOUR money (from Token Sales) to buy them to artificially increase the price. I suspect that is what they have done, the real irony of this method is it's like when you 'SALT THE MINE!' (Plant something of value (salt) into the deal (the depleted salt mine you're selling) to increase the sale price). If this isn't a scam I'll eat my hat, without salt. Good luck if you think you can make a fast buck selling to the next sucker but remember, you will need to find a sucker even dumber than you!  

Looks like you almost got it right. One more thing i would like to add - Before $1.50 tier, you were only able to buy through Bitcoin and not ether. So no public verification through etherscan for 91% of discounted token sell.

[TheFriends]

It is necessary to have Salt for lend my coins (BTC, LTC,etc)?

How many SALT do I need to lend?

[5thangel]

Is it the right time to buy now at 5.3$ ?

I did bought more salt under 5 USD. If salt goes lower i will buy more.

[cjmoles]

My question for SALT is:  How in the hell does the marketcap go straight up from 159 M to 237 M while the price has decreased by 30 percent?  Can somebody be dumping tokens into circulation from somewhere for some odd reason?  I don't get it ---> what in the Sam Hell is going on here?  Scammers getting out or what?  How do tokens mysteriously appear out of nowhere?  How can that be legitimate?  Look at the chart between the 4th and the 5th of October ----> https://coinmarketcap.com/currencies/salt/ <----normal??

[Vega]

My question for SALT is:  How in the hell does the marketcap go straight up from 159 M to 237 M while the price has decreased by 30 percent?  Can somebody be dumping tokens into circulation from somewhere for some odd reason?  I don't get it ---> what in the Sam Hell is going on here?  Scammers getting out or what?  How do tokens mysteriously appear out of nowhere?  How can that be legitimate?  Look at the chart between the 4th and the 5th of October ----> https://coinmarketcap.com/currencies/salt/ <----normal??

Previously coinmarketcap only showed the amounts withdrawn from the SALT sale platform as circulating supply.
Now, it's shows the correct amount of circulating supply based on the tokens sold during the various tiers, around 54.6 million tokens.

[cjmoles]

My question for SALT is:  How in the hell does the marketcap go straight up from 159 M to 237 M while the price has decreased by 30 percent?  Can somebody be dumping tokens into circulation from somewhere for some odd reason?  I don't get it ---> what in the Sam Hell is going on here?  Scammers getting out or what?  How do tokens mysteriously appear out of nowhere?  How can that be legitimate?  Look at the chart between the 4th and the 5th of October ----> https://coinmarketcap.com/currencies/salt/ <----normal??

Previously coinmarketcap only showed the amounts withdrawn from the SALT sale platform as circulated supply.
Now, it's shows the correct amount of circulated supply based on the tokens sold during the various tiers, around 54.6 million tokens.

Also, somebody dumped SALT all the way down to 0.002 eth on liqui.io right around the same time as the big upward mysterious marketcap spike----> https://liqui.io/#/exchange/SALT_ETH <----  is that just a coincidence?  Something's very fishy here....distribution weird....marketcap weird....platform weird.  And, because of that, I lost half my role between yesterday and today!