Kin ICO from Kik

[metalbean]

Hi guys,

I've applied for the token sales and got into the white list. Does anyone have anything to say about this ICO?

Kik is one of the very few with proper products, you know their Kik chat app.

But I want to know about other downsides about this ICO, one I heard was that they were gonna distribute only 10% of tokens to the public. Is that true?

What other deal breakers.

[richGUP]

Yes only 1/10th of the tokens are released to the Public . . . the rest goes to Kik and the Kin Team. How they can call this decentralised I'm unsure . . . also the the ICO cap is 75 million x 10 so they're valuing Kin at 750m already, not really in favour of investors.

I'd rather invest my money in Status it's closest competitor.

[renes]

I really don't understand this ico bullsh*t and unbelievable hard caps, what is the value of their token? They will raise $100 million just because of the popularity of kik application. I may buy it just to dump it on exchanges for quick profit.

[Poink]

I was going to join but not anymore.  I posted here why...if you are interested look for the thread I started.

[dineshary]

it might now have 5x or 10x. still the popularity of kik will provide short term gains.

I am still confused about the market cap. They have raised 50M in pre sale and 75M from ICO = 125M. The market cap depends on the ICO supply or the total supply?

125M or 1.25B?

[adstudio]

1/10th of tokens is nothing. Decentralised chat on blockchain? Ok. But why?

[Poink]

Decentralised chat on blockchain? Ok. But why?

This is perfect for the pedophiles... 

[Ayesha Arif]

hi what is meant by 1/10 of the token. Like if i have purchased from 1 ETH = 1,973,581 KIN so will i get  just 197,358 kins? Is this what you all are trying to say?

[X-ray]

Hi guys,

I've applied for the token sales and got into the white list. Does anyone have anything to say about this ICO?

Kik is one of the very few with proper products, you know their Kik chat app.

But I want to know about other downsides about this ICO, one I heard was that they were gonna distribute only 10% of tokens to the public. Is that true?

What other deal breakers.

Kik chat app and i don't see something that makes different with the status network. I think so because the company will try to hold a lot of the shares of the company, I've seen the kik already advertised by facebook.
There are so many projects have similar product with kik.

[shrl24]

hi what is meant by 1/10 of the token. Like if i have purchased from 1 ETH = 1,973,581 KIN so will i get  just 197,358 kins? Is this what you all are trying to say?

What is meant is that 10% of the tokens will be sold during the ICO. A total of 10 trillion tokens will be created and 1 trillion will be sold in the ICO, which is very low compared to other ICOs.

[Kaffo]

I don't like the fact that I have to give all my personal information to them. This is the reason I don't support it.

[thecodebear]

I bought a bunch of Kin through the ICO today. Granted the fact that only 10% of the coins are released in the ICO is a bit worrying for the price, but from what I understand the rest will be used for a combination of future funding for Kik as well as a reward system in-app for content creators. So it makes sense they kept a bunch to hand out as payments to content creators in the future. It should take several years for the full coin supply to be on the market.

This is the only crypto that I'm aware of that actual has an existing userbase and actual use cases - it will be the in-app money. While that might give it a lower max usage than coins that aren't tied to a single app, it also means it has about 1000x the real world use that any other coin has right now other than Bitcoin and Ethereum.

$50 million were sold at a discount in a pre-sale. So if we go on the price of 1 Kin in the public ICO ($0.000146...) then the starting market cap of the 1 trillion Kin tokens that will be on the market is $146 million. Personally, for a token that has an actual use case (the currency of a popular app) and an existing user base, I can definitely see the market cap of this first trillion tokens hitting over $1 billion, Perhaps 10x'ing from the ICO price to $1.46 billion, I don't think that's a stretch at all. Plenty of the billion-plus market cap tokens will never actually be used for anything, so there's a good chance Kin will get up there IMO.

[olowshinenine]

Can someone tell me how you participate in this? Is the registration over?

[cah ndablek]

I am always interested in newly emerging ico but also need detailed information related to the program to be created. So it will not be too hard to find the original thread. I wait for update from ico that will run this if it really exists.

[tsaroz]

They are already an established platform and this token is just for tokenising their platform rather than increasing the capital.

[BenjaminFranklingwould]

it might now have 5x or 10x. still the popularity of kik will provide short term gains.

I am still confused about the market cap. They have raised 50M in pre sale and 75M from ICO = 125M. The market cap depends on the ICO supply or the total supply?

125M or 1.25B?

It will be 125 million based on their whitepaper. It will be more after year inflation.

Overall i'm bullish on this anyway because of the potential hyipe with big project from the real world.

[gjtnwls1]

ICO is going really slow i think. They only collected 15m usd so far (20% of what they aim to collect).

[metalbean]

Can someone tell me how you participate in this? Is the registration over?

You have to get into the whitelist, the white list registration closed a few days ago, so you cannot participate in the ICO.

[thecodebear]

ICO is going really slow i think. They only collected 15m usd so far (20% of what they aim to collect).

It's not going slowly. The first day of the ICO they allow everyone the opportunity to get an equal share of tokens. So the max you can buy today is $75 million / ~17,000 registered = $4393. Since obviously most people will not be buying the max amount there will be plenty of coins left to buy when the cap is pulled. And it lasts 24 hours so there is no rush to get them right when the ICO started. Tomorrow is when the buy cap is pulled and people can buy as much as they want until the token supply runs out. So far I think almost a quarter of the participants (~2000) have bought the max amount today, so likely a lot of them, plus others, will be buying up whats left tomorrow.

[gjtnwls1]

ICO is going really slow i think. They only collected 15m usd so far (20% of what they aim to collect).

It's not going slowly. The first day of the ICO they allow everyone the opportunity to get an equal share of tokens. So the max you can buy today is $75 million / ~17,000 registered = $4393. Since obviously most people will not be buying the max amount there will be plenty of coins left to buy when the cap is pulled. And it lasts 24 hours so there is no rush to get them right when the ICO started. Tomorrow is when the buy cap is pulled and people can buy as much as they want until the token supply runs out. So far I think almost a quarter of the participants (~2000) have bought the max amount today, so likely a lot of them, plus others, will be buying up whats left tomorrow.

so, how soon do you think the ico will end after the cap is pulled tomorrow? i'm wondering because i feel like the hype around this ico is not strong enough, but i might be wrong.