The downside of not having an ICO or pre-mine is indeed that this Xtrabytes is easy overlooked since there is no funding available for marketing and campaigns.
the downside of this coin is the 100% premine based off a dead ico.
it all sounds like interesting stuff but they really should not have hitched it to something that lay dead on yobit at 1 satoshi forever.
it should've begun with a clean sheet, not sullied itself with that association.
Absolutely. You are correct. Things could have been easier if they had gone the route that legions of coins have . . . but they didn't. If anything, it
ALLOWS more people to buy in at a lower price. Price currently is around 600 sats. This is
MUCH lower than your typical Bitcoin clone, or smart contract platform ICO base rate. Many of these ICO's do not have a finished product . . and still manage to raise exorbitant amounts of coin.
Truthfully, it threw me off a bit when I first read about it. We are
USED to participating in ICO's. This was a different strategy. One that I've grown to appreciate over time. It would have been very easy to showcase the POSIGN idea, stir up some fancy infographic or whatever, and raise a boat load of money. But they didn't. Maybe it was because they felt scoffed at being scammed . . I don't know. Frankly, it doesn't matter.
The price was dead for some time. It also was in a huge downtrend after the initial buy up in price to get level 1 nodes. This has given people time to get any funds available to purchase. I'd also add that the amount of time to accumulate was much longer than a window of a typical token sale. One could argue, accumulation period is coming to an end . . . but who really knows? The other thing that struck me, is that investors do not have to deal with Parity, MEW, or the chance that they may not "get in" on the ICO because large holders have clogged up the pipelines with their orders. Anyone, at anytime, is free to go to the 3 exchanges XBY is on, and grab them some coin for very cheap.
Because to me it seems the criticism ultimately is concerns about distribution but all I see these days are ICOs which take 100%!!! of the market cap in ETH and BTC and then on top of that only sell that chunk for only a part of the supply sometimes less than half! Then they sell a huge chunk to corporate banking investments under the banner 'Venture Capital'. Then they take a chunk for themselves often under the guise of 'operating fund'. Then of course most of these ICOs aren't event original chains but simply well marketed ETH apps. This has been done by even the biggest names in Crypto including NEO, Waves, Stratis and even ETH.
It is eerie just how accurate this statement is.
