Red Pulse (RPX) just destroyed themselves - Worst ICO ever!

[Cicada1033]

They are going to refund GAS as well.

Email from RedPulse:
We are continuing with our refund process, thank you for your patience. Many have asked about the GAS that is being generated while we hold your NEO. We will be returning this to you as well, as calculated by how much was generated over the past few days since the RPX sale. The GAS refund will take place after the NEO refund has completely finished.

At least that's a professional consequence. It's really sad what happend but I am faithful that they will learn from it and that it won't happen again on future icos.

[onyebuchi81]

People got to chill. to say it is the worst ICO or fraud then you are only biting yourself. If it tank or dump you will also loose money. Mistakes happen and this is NEO first ICO, so what do you expect?

Because you do not get into the second round then so what? there are people who do not even get into the whitelist. Crying babies and feeling of entitlement.

Listen, to me it was a success though they could have done better but considering it was their first time they did the best they could at that moment. They have said they will refund your NEO back with your GAS so why the FUD.

I also couldnt get in into LINK ICO, despite the fact that i was in the Whitelist, but why make a fuss about it. Sometimes you win sometimes you lose, is part of the ICO world. Your crying about this, will not make what happen to change.

Wether it was 10seconds early or 10 seconds late it doesn't matter. Some get in some do not including myself. But i got to accept that it is part of the game. I want RPX and NEO to succeed because i believe in the project and that is the reason why i invested in the first place. RPX is already an established company with track record not just some startup with only whitepaper and seeking 100M.

Those crying babes here about RPX is simply our of cheer GREED and not because they believe in RPX. they want a quick flip and their GREED get a better of them. Chill out or go get a beer, the blockchain world is still at an experimental stage. Even Ethereum have had its own shares of failure with the DAO hack.

RPX and NEO will do well. if you are patient and not let your emotion get on you, you will enjoy many X'S

u said all bro

[MelG]

I dont think anyone here wants RPX to fail. But people who are asking "to chill" and "stop crying" need to understand that a lot of people, including myself, spent a great amount of time to prepare for this ICO to make sure everything goes well. We followed their instructions thoroughly and sent them our NEO coins in exact time they advised us to. Yet, all our transfers were not counted in for the second round, because of their mistake. We don't want to bash their project but we as investors have right to be upset and give them straight forward feedback because of their screw up.

Not to mention that lot of people lost significant amount of money if they bought NEO from the exchange just for this purpose. The price of NEO was $37 USD by the time of ICO and it has gone down to $30 USD per pop, which is about 20% depreciation. Many of us bought NEO for $50 000 USD for this ICO and have now lost $10 000 USD (20%) because of the RPX team.

People have right to be upset and demand them to take responsibility of their mistakes. The bottom line is that people are not upset because they did not get their coins - They are upset that the RPX team mislead them by providing inaccurate information, which resulted them to miss the ICO second round and suffer direct financial losses. This is very bad PR for company like this. They need to work really hard to repair the damage for their own sake. Luckily they are quickly refunding the payments (I got mine today) and they promised to send also the GAS.

[vatived22]

I dont think anyone here wants RPX to fail. But people who are asking "to chill" and "stop crying" need to understand that a lot of people, including myself, spent a great amount of time to prepare for this ICO to make sure everything goes well. We followed their instructions thoroughly and sent them our NEO coins in exact time they advised us to. Yet, all our transfers were not counted in for the second round, because of their mistake. We don't want to bash their project but we as investors have right to be upset and give them straight forward feedback because of their screw up.

Not to mention that lot of people lost significant amount of money if they bought NEO from the exchange just for this purpose. The price of NEO was $37 USD by the time of ICO and it has gone down to $30 USD per pop, which is about 20% depreciation. Many of us bought NEO for $50 000 USD for this ICO and have now lost $10 000 USD (20%) because of the RPX team.

People have right to be upset and demand them to take responsibility of their mistakes. The bottom line is that people are not upset because they did not get their coins - They are upset that the RPX team mislead them by providing inaccurate information, which resulted them to miss the ICO second round and suffer direct financial losses. This is very bad PR for company like this. They need to work really hard to repair the damage for their own sake. Luckily they are quickly refunding the payments (I got mine today) and they promised to send also the GAS.

I get your point and totally agree with you and am not in anyway saying that the ICO was as smooth as i would like it to be. I also understand the frustration that this may have caused alot of people including myself who wish to get more in the second round. But to say it is the WORST ICO EVER like really? Have you seen ICO such as BAT which does not even last a second!!! or GNOSIS with its useless DUTCH style. Atleast everyone who were whitlisted and wanted to get in, did have a fair chance in the first round. They have explained the situation about the discrepancy with the Smart contract not executing at the exact time. So people can complain as much as they want and yes KEEP CRYING!!! but i have chosed to accept that it is part of the system. if you are not happy you sell your RPX once it hit the exchange. And who the hell created the PETITION page, what do you think the RPX should do? Alot of people often think that these Token are Securities. Dude they are not, they are merely DONATION to the the company. 

[MelG]

I get your point and totally agree with you and am not in anyway saying that the ICO was as smooth as i would like it to be. I also understand the frustration that this may have caused alot of people including myself who wish to get more in the second round. But to say it is the WORST ICO EVER like really? Have you seen ICO such as BAT which does not even last a second!!! or GNOSIS with its useless DUTCH style. Atleast everyone who were whitlisted and wanted to get in, did have a fair chance in the first round. They have explained the situation about the discrepancy with the Smart contract not executing at the exact time. So people can complain as much as they want and yes KEEP CRYING!!! but i have chosed to accept that it is part of the system. if you are not happy you sell your RPX once it hit the exchange. And who the hell created the PETITION page, what do you think the RPX should do? Alot of people often think that these Token are Securities. Dude they are not, they are merely DONATION to the the company.  

Those are all good points. What makes this the worse ICO in my opinion is that investors actually suffered direct financial damages worth about $6,800,000 USD total, due to poor execution of the ICO. Not a very good start for a company. The petition was made by some Indian guy, if I am not mistaken. I don't think it has more worth than actually sending a clear message to them that people are not happy. The tokens are gone, the ICO is over. Maybe what they could do, is that next time they raise money, they would prioritize those people from block 1445025 or something like that. A small gesture would already make a big difference in PR.

I remember similar case with Pepsi a few years back. In 2015 they launched campaign with limited edition of Pepsi Perfect bottles (inspired by the movie Back to the Future). They experienced several technical issues and they greatly under estimated the demand. Making lots of people very upset. What they did, they decided to make another batch for those who had missed it, just to help to save their PR. This is something RPX should definitely look into. When investors or customers get upset, it doesn't matter who is right or wrong, the company will suffer the damage every time. Regardless how they are trying to twist it.

[SimonJones]

They have already refunded the NEO. It was a quick refund and now they are going to refund the GAS as well.

[Johnnywelsh]

This is why I no longer invest in ICOs, it's drama central. Easier to wait until price drops on an exchange and pick up a bargain.

[blokHed]

This was NEO's first ICO. Some already wallet synced, I was there. like many, waiting for PC app to sync, left comp on, many lost out because of that. I was one had consigned to that fact, disappointed after research and KYC time.
I only got lucky thanks to last minute post on this website which literally left me minutes to get in. Thank you for that post. Showing same-day Neon wallet was released for sale, DL and within minutes pressed 'Go', got in, few minutes later got mail, sale closed.
I already had the disgruntled thought of research time and KYC going through and belief in project going forward, yet put into context.. If think is project worth proceeding with, simply get on exchange. Early days for all.

After that, saw the commotion, and realised I too may have been there.
If considering 'scam', It maybe easy to see that NEO is special due to the fact that the receiving address accumulates GAS while holding. Unless anyone can prove me otherwise, the gas was not claimed on the ICO receiving address, and Red-Pulse are refunding Gas amount to all affected.

IMO, as a first NEO ICO, message has been placed that, If considering scam of free Gas, as goes both ways, the pressure will be too much to bare.

Back to the project ethos of removing daily ..Edited there> (released) realised FUD, to incentivise the truth to be reported.

[MiBambino]

People got to chill. to say it is the worst ICO or fraud then you are only biting yourself. If it tank or dump you will also loose money. Mistakes happen and this is NEO first ICO, so what do you expect?

Because you do not get into the second round then so what? there are people who do not even get into the whitelist. Crying babies and feeling of entitlement.

Listen, to me it was a success though they could have done better but considering it was their first time they did the best they could at that moment. They have said they will refund your NEO back with your GAS so why the FUD.

I also couldnt get in into LINK ICO, despite the fact that i was in the Whitelist, but why make a fuss about it. Sometimes you win sometimes you lose, is part of the ICO world. Your crying about this, will not make what happen to change.

Wether it was 10seconds early or 10 seconds late it doesn't matter. Some get in some do not including myself. But i got to accept that it is part of the game. I want RPX and NEO to succeed because i believe in the project and that is the reason why i invested in the first place. RPX is already an established company with track record not just some startup with only whitepaper and seeking 100M.

Those crying babes here about RPX is simply our of cheer GREED and not because they believe in RPX. they want a quick flip and their GREED get a better of them. Chill out or go get a beer, the blockchain world is still at an experimental stage. Even Ethereum have had its own shares of failure with the DAO hack.

RPX and NEO will do well. if you are patient and not let your emotion get on you, you will enjoy many X'S

100% agree my friend

[Poink]

This is why I no longer invest in ICOs, it's drama central. Easier to wait until price drops on an exchange and pick up a bargain.

The question is, will this happen?  I will wait and grab some if it does, but I honestly doubt it will go down near the ICO price.

[MiBambino]

This is why I no longer invest in ICOs, it's drama central. Easier to wait until price drops on an exchange and pick up a bargain.

The question is, will this happen?  I will wait and grab some if it does, but I honestly doubt it will go down near the ICO price.

it always drops a little after getting listed

[webofunni]

Ethereum ICOs are much easier and mature. But it is a first ICO on neo, expect they will come up with much mature and easy ICOs in future.

[luffy7]

My transaction didnt got in but i think Red pulse is the most legit company raising reasonable amt of money.

[evergrow]

Now, I totally understand that for team with no expertise in this area things can go south.

I have no understanding for this, people who run ICOs in the crypto world must have expertise in this area

[vatived22]

This is why I no longer invest in ICOs, it's drama central. Easier to wait until price drops on an exchange and pick up a bargain.

Do you think RPX will drop once it hits the exchange? Goodluck to that. the little this will do will be 3 to 5X

[yelllowsin]

Regarding the fud, here is the official response to what really hapenned.

Hi Everyone,

I know there's been a lot of frustration and unhappiness regarding start of the second period of our RPX sale. As stated previously, during this first period, the cap was set at 1,000USD (27 NEO). At the conclusion of this first hour, the cap was lifted to 50,000USD (1,352 NEO). Consequently, many people who wanted to invest more, waited until the second period to invest more.

People who contributed NEO as part of block 1445025, were not considered by the smart contract to be part of the second period of participation yet. However, those that were part of block 144026, and going forward, were included. The reason for this is because smart contract timestamps are deterministic, meaning that it must output the same result, given the same input. In NEP-5 standard, the code used is:

uint now = Blockchain.GetHeader(Blockchain.GetHeight()).Timestamp;

Executing this line gets the timestamp of the PREVIOUS block, because that is the only way all the nodes can agree on what "now" actually means, since the current block 1445025 was still in progress. For everyone that contributed as part of block 144025, the "now" parameter was returned as 2017-10-08 13:59:50 GMT, outside the window of the second period. When the next block 1445026 began, the "now" parameter was then returned as 2017-10-08 14:01:44 GMT, which is within the window of the second period.

Regarding automatic refunds, we were unable to do this as a refund function could only be accomplished with implicit transaction outputs. The NEO blockchain was not designed to have implicit transaction outputs for global assets (such as NEO), because it would bring a number of problems and risk to the SPV protocol. After consulting with the NEO core dev team, the next steps for them are: NEO will provide a trigger mechanism, so that future smart contracts can refuse a transaction upon receiving a global asset transfer at a certain condition. This way, there is no need for refund, because the asset would not be accepted in the first place.

For Red Pulse our next steps are to focus on refunds. I understand the sensitivity regarding having your NEO tied up, so I'm prioritizing the refunds above all else, and personally working around the clock to process them. I aim to have these completed within a week.

Thank you everyone for your understanding, and I apologize for any misunderstanding and inconvenience caused.

Best regards,
Jonathan Ha
Founder & CEO, Red Pulse

[a7594li]

this will still do very well when it hits exchange, no matter if those investors did not get in. they will still want to get in. I expect it will at least go 5 times its ICO price

[vatived22]

this will still do very well when it hits exchange, no matter if those investors did not get in. they will still want to get in. I expect it will at least go 5 times its ICO price

I agree with you here. If it is listed in Binance it will hit that. I think the reason the team is relunctant to list it is because of the coming btc fork and most of the alt have been on bearish trend recently

[Michae1k]

I was a big fun of red pulse but by now its too sad. At that moment I invested into Confideal and Jibrel Network

[overttherainbow]

When is this toke due to hit exchanges does anyone know? Something more specific than "in the xQ of xxxx year".