Have a look at the ICO page:
- outrageously overpriced ICO (mining it is orders of magnitude cheaper, why would anyone want to buy in the ICO?)
- unsuccessful ICO (92 mil available to sell, only 22 mil sold) ... no surprise here. In fact, 22 mil is already too much.
- a hell of a lot of coins go to the team in some form (4+8+27% reserves - seriously?)
- mentions ICO cap in USD, but ICO priced in BTC.
- a long series of unverifiable (surreal?) claims, e.g. claims to have already achieved: 140 merchants for the mobile wallet, 40 partners on terminal integration, etc ... Wow, and this coin isn't even on any exchange. Why do you think they don't name any single one of those merchants/partners? (rhetorical question)
- team put forward a pool with 0.01% fee because "we want to help the community, we don't want money for ourselves". When their pool reached a few MH/s, guess what happened to that 0.01% fee? It became 1%.
Good luck to those who actually bought in this ICO.
p.s. Has anyone asked all advisors about it (scammy ICOs slap on names all the time)? Though this looks like a Ukraine get-together, international footprint is minimal at best.
You are right, on the beginning ICO price was too high compared to mining, and earlyadopter miners could mine a lot of Grafts. Today network is around 47MH/s, and diff around 5.7 billions. So, Graft today is close to another mining coins profitability. Miners will not sell it for extra cheap. There was a lot private transactions on social networks, and people are paying for Grafts. With this strategy developers attract a lot of miners and show that they believe in their project.
If You remember Electroneum (ETN), it was the real mining hysteria when mining starts. During the first night of mining, it was also an extra profitable mining, but after 10 days it becomes close to another coins. There were also a lot of haters who told that the miners get the extra cheap ETNs, that the price will drop etc. When the coin reach the exchange ICO buyers will have 6x profit on their investment (today 8.5x)!!! Despite of blocked wallets for ICO buyers etc...and ETN still have a big mining community.
Is ICO succesful or not, it is hard to say, but this project have a real potential as a payment processor for microtransactions. With Graft ecosystem it will be sustainable to by even a single chewing gum with crypto or card. This project can make a real help to adopt the crypto in real retail payments.
I hope that developers collect enough resources in this ICO to make this project live and prosper.
Maybe, there were some mistakes in communications with investors, but I believe in final result. Check the LinkedIN profiles of GRAFT team and advisors, respectable names and careers.
