i'm not calling it a scam. all i'm saying is that it was not a sensible way to launch something that would generate good will and interest from new users.
they could still have bailed out the original people by creating something completely new and crediting them when it was ready to launch.
by doing it the way they have they've hobbled interest from others.
anyway, good luck to it. i might buy in when something's operating.
Hello ECB, these are all fair points and could certainly lead to an investor taking pause. Nonetheless I feel XBY is a platform with compelling potential. I invested in XBY because of
1. Deep management bench - I have participated in the slack channel for several platforms including Droxne, Reddcoin, Zencash. The team has a deeper management and technical bench than many existing projects and practically all recent ICOs. Some of the management and technical team slack names are Borzalom, CCRevolution, Vanfly. jcpbs, bikerlezn,
2. Low market cap versus competing smart contract platforms - other platforms including ETH ($27.7B), Lisk ($242M), Stratis ($525M) have much higher market caps by a factor of 20x or more. The low market capitalization on an absolute and relative basis is a margin of safety in the crypto space, which is truly volatile when compared to other assets such as equities or commodities
3. Uniqueness of the business model - XBY is based on Proof of Signature, this is a unique consensus method for protecting securing the network /processing transactions and fundametlly different than Proof of Work, Proof of Stake, Proof of Importance (e.g. NEM), Directed Acrylic Graphs (e.g. Byteballs) or Byzantine Fault Tolerance (NEO)
Needless to say there is risk in any technology investment whether its Teledyne, Amazon or XBY. If you wait to buy, you could get a lower price if there is a crypto wide market selloff or pay a higher price once investors bid up the valuation for a proven technology.