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Author Topic: [ANN][ICO] savedroid - BITCOIN SAVING MADE EASY!  (Read 54603 times)
tempus
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May 08, 2018, 12:49:06 PM
Last edit: May 08, 2018, 01:08:08 PM by tempus
 #2961

An interesting Interview with Yassir Hankir was published today - unfortunately only in german:

„Müssen uns dafür aufrichtig entschuldigen“ – So erklärt der Savedroid-Gründer seine missglückte PR-Aktion




Headline in english:

"We have to genuinely apologize" - This is how the Savedroid-Founder explains his failed PR-Stunt


I'll not translate everything but point on some interesting things he said during that Interview:

At one point he is asked why they've done an ICO. His answer is this - german original:

"Wir haben kurz vor dem ICO 1,5 Millionen Euro Eigenkapital von Investoren eingesammelt. Insgesamt haben wir nun 3,5 Millionen Euro Eigenkapital bekommen. Mit dem ICO konnten wir gleichzeitig eine neue Nutzergruppe auf uns aufmerksam machen, schließlich wollen wir mit dem Kapital eine Plattform zum Sparen in Kryptowährungen aufbauen. Die Zielgruppe ist eine ganz andere. Aktuell haben wir etwa gleich viele weibliche und männliche Kunden, die zwischen 18 bis 40 Jahre alt sind, sehr konsumfixiert sind und sehr schlecht mit Finanzen umgehen können. Die Mitglieder der Krypto-Szene sind älter, sehr technologieaffin und zu 95 Prozent männlich."


In english: He explains that they've collected 1.5 mln EUR before the ICO selling real shares and that they got 3.5 mln EUR in summary. The interesting part is:

"Due to the ICO we were able to get the attention of a new user/target group, since we want to develop a money-savings-platform in Crypto. The (this) target group is very different (...)"

Why I point on this is: Actually he says that the ICO itself was about marketing/PR, to get attention in the Crypto space and more users for the App under the line. It's not what I'm critical about per se. But good projects always try to create win-win-situations. To do that it's about the whole context and exactly that is totally distorted when it's about Savedroid:



Purpose of the token:

Utility tokens were invented by decentralized networks and have two or even three purposes: 1. Financial incentive to secure a decentralized network (mining for example). 2. Payment for services / Fees 3. Sometimes Utility tokens are also government tokens


SVD is about two: Payment for services / Fees. But:

1) That would not just be possible but much easier to do without the token at all, just to collect fees in whatever Currency they may offer in future.

2) He says that they want to develop a savings-App for Crypto. The offered service would be about helping Users to put money aside using algorithms that initiate automated transactions which follow some fancy rules - like whenever Trump pushes something out on Twitter, money is transferred from User-Address 1 to Adress 2 (savings-address). The problem with that is: It's a total contradiction in itself because each transaction costs fees. If somebody wants to put money aside he does exactly that, but he doesn't pay for unnecessary transactions that cost money having less money as result. How does it help anybody to save money if the whole business idea is about tricking the mind into tiny transaction that cost a lot of money under the line?

3) To do that Savedroid needs control about the used addresses. It's not possible to make automated transactions (or any transaction) from an address without having the private keys. That means: A user additionally pays to keep the money he wants to put aside in an online environment (unsecure) and to give up control about his private keys ---> money (unsecure!!!). Result: Savedroid-Users would pay for having less control and weaker security.

4) Economics of the ICO: They've believed it would be good to have a total supply of 10 bn tokens at a price of 0.01 EUR each. That makes obvious what they believe or want to make others to believe how valuable their economical system is or will be: 100 million EUR = 129 million Dollar. They wanted to sell 6 bn tokens but sold less while the exact numbers are nowhere to find. At least I didn't find them. But it's said they got about $50 mln. That is insane in itself. There are much better projects who not just didn't get that much money but didn't even ask for so much money because they know they don't need it. ICO's with experienced teams can be very attractive because they simply act honest and rational, also and especially when it's about the economics. That gives room once a token hits the exchange. But Savedroid took all the money they could get, leaving not much or even no room but a lot of potential that this could really sink like a stone. Experienced Guys would have stepped back only seeing the economical design.  



Marketing


Considered the context above (and sure: nobody needs to agree with my view on it) Savedroid has showed real commitment only in two aspects:

1) Creating a buzz, using everything for marketing
2) selling as much of their token to a ridiculous high price


Yassir now apologizes but in my opinion that is more in regards to the german Fintech-Community. If it was about their Crypto-Investors this apology can not be considered as honest, because otherwise he would have agreed to refund those who want get out. It's not possible to honestly admit "I have done something wrong" while saying "No, actually I don't want to repair the situation for those who are likely pay the bill".

And actually that's not just a mistake others are likely to suffer from. It's also not good for the project itself to start with such a high token valuation. They wouldn't ever need so much money to start. Software Development is not about building tons of infrastructure. They undermine their own credibility with that as well. Even without the PR-disaster Savedroid has to be seen as a hype-project without any interesting fundamentals. I personally see no potential at all because there are contradictions on all important aspects.

Plus: They've pushed themselves into a very bad position. Yes, they are millionairs now but that comes along with a lot of pressure. I consider it as a safe bet that no one of the team is happier now than he/she was before they've pulled of this ICO and especially their PR-Stunt. They will earn pressure each and every day and that will cut between them and their own Community while there is only one connecting aspect: The lack of experience. Team and their Investors seem to have that in common.



And just btw: Those who bought with Credit Card are the ones who are really fucked in this game.

Reason number 1: They have to wait 180 days after the payment was made until they will be able just to move their tokens
Reason number 2: Once they can it will be about significant supply flooding the markets and others will anticipate that. Just imagine you hold SVD and you know: "In three days first Credit Card buyers will be able to move and therefore to sell their tokens". What would you do? More supply flooding the market means pressure on the price and because ppl will anticipate that, the price is likely to tank some time before.


Another interesting point of the Interview:

The Interviewer calculates:

"You speak of 200,000 App-Downloads but you don't give numbers about actual Users. Marketing-Experts expect that only 20% really use an App after downloading it. Therefore you would only have 40,000 Users. (...)"

The interesting part is: Yassier doesn't reject that. He answers that it typically needs some time to get new users and more attention and so on. And yeah, that's probably true. But what he can't say there is, that it's also about trust. And besides everything else which I personally totally dislike: They've targeted trust with their PR-Kamikaze.

Plus: Their business model didn't work that well with Fiat until now while that actually makes much more sense, because it's not that much about security like in Crypto and it wasn't about high fees yet (or any fees).


What he says about exchanges:

"At the moment we're coordinating the trading-start of our token so that it will start at the same day on all exchanges. It should start in a few weeks."

Original: "Im Moment koordinieren wir den Handelsstart unserer Token, sodass dieser für alle Krypto-Börsen auf den gleichen Tag fällt. In wenigen Wochen soll es so weit sein."



If that quote is correct it doesn't seem to be about hitting exchanges "end of april or early may" anymore, but about weeks.

If so, the question would be why...?  My guess is: Exchanges backed off after their PR-Stunt, but of course, I can't know that for sure.


What he speaks else about is that they will put some effort in becoming better... also regarding communication etc. To read the whole interview in english Google Translator might be helfpul.




I don't even want to blame Savedroid for everything because in my opinion everybody should show some self-responsibility and think about projects and potential Investments. What I'm really eager to see is the due-diligence-list Savedroid has promised to put out, to help people to invest in a rational way. Because they'll find themselves in another paradox:

If that due-diligence-list should be high quality, it would have ruled out their own project. It will have to be superficial not to do that.
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May 08, 2018, 01:05:09 PM
 #2962

still waiting for how much SVD I got from my bounty stake
no information at all

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May 08, 2018, 01:08:46 PM
 #2963

"I believed that the ICO sold out and that there were about 35k public Investors. Etherscan shows this today:

Total Supply:   2,997,326,447 SVD
Holders:   19367 addresses


Does that mean  > 50% of the tokens were bought with Credit Card and weren't created because of that yet?"


We now that 5M Euro was held in scrutiny from credit cards. Even assuming that they reached the 40M, it is realistic that the bulk of the small buyers payed with cc even though it only represent 1/8 of the total tokens.

That is 50% of the investors but only a small part of the tokens.

that mean that they laying i complete my kyc payment with btc and don't get my token yet and many have same probleme you can check telegram
and the big ^probleme many people get tokens twice and some people got tokens triple
how buy 100k get 200k


I hear about this issue for this time some lucky investors got double or triple amount for their investment. If this could be true than how team will resolve this issue this is really strange. But distribution method is also very confusing and people don't when they will get their tokens.
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May 08, 2018, 04:55:33 PM
 #2964

if you have any questions for CEO Dr. Yassin Hankir about the savedroid ICO, Make sure you're here https://www.facebook.com/savedroid/videos/654308281576356/ LIVE NOW! and you wil get answer
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May 08, 2018, 05:25:35 PM
 #2965

If today not release exact date for exchange me and friend will ask refund at bbq party, if no refund we will make riot at the party

That party could easily end up becoming one of the most interesting events in crypto right now...
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May 08, 2018, 05:50:36 PM
 #2966

Final exact date for exchange? Do not say few weeks.
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May 08, 2018, 06:13:27 PM
 #2967

This AMA sessions will clear many things as people are going to ask hard questions. It is going to be very interesting because exchanges, distribution to remaining investors and bounty participants will be asked and answered. This will be mainly focused by large number of participants. I would hope to see recorded version tomorrow sometimes if it will be released.
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May 08, 2018, 06:32:29 PM
 #2968

I also like the spirit of the dev this kind of AMA session will bring the trust of the community back on this project. That PR stunt really hurt so much and break the momentum but I hope we will get succeed to push this back on the track and everything will be fine after few more days.
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May 08, 2018, 06:43:27 PM
 #2969

Regarding Exchanges, how I understood it:

It will not be possible to list the token on the top5-exchange soon. The given reason for that: Exchange-policies would be under review of the exchange. I didn't really understand that part tbh. He also said that prices to get a bigger listing went up recently but don't know if that was in regards to that specific exchange or not. He can't give the name of the top5-exchange because it's part of the agreement (or negotiation) that the exchange has the first right to make an announcement once they list a token.

He seemed confident to get a listing on that exchange within a "few weeks".

Regarding the other exchanges he said it would be possible to list the token within days. They want to make a voting, if I understood it right it will be this way:

Investors can vote on:

Option 1: To list the Token as soon as possible (within days) on the smaller exchanges that are listed on the webpage and the bigger listing would follow once ready.

Option 2: To wait for the Top5-exchange to get the token listed on all exchanges at the same day.


The voting will last for 3 days and the voting-power will depend on the number of SVD an Investor bought (larger holders would have more votings, smaller less).



Regarding token distribution and those who got double-SVD-transactions:

He said that some community-members signaled willingness to give those "double-transacted-SVD" back to Savedroid and that they will appeal on others to do that as well (mail them etc.).

Reason why that happened: A script they've used for those transaction involved errors.


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May 08, 2018, 06:49:34 PM
 #2970

This AMA sessions will clear many things as people are going to ask hard questions. It is going to be very interesting because exchanges, distribution to remaining investors and bounty participants will be asked and answered. This will be mainly focused by large number of participants. I would hope to see recorded version tomorrow sometimes if it will be released.

You can already see the AMA session over this link: https://www.facebook.com/savedroid/posts/654786808195170, check it out.

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May 08, 2018, 10:44:54 PM
 #2971

I have thought a bit about this mysterious top 5 exchange. I can't know it but something doesn't add up. To make it as short as possible:

Given reason why it needs more time to get SVD listed on that exchange is, quoting tobson2 - telegram:

"(...) the exchange decided to update it's listing policy in the next weeks, so it might take more time than expected to get started"

Yassir also said that during the AMA and even explicitly added that this exchange wants to raise their listing standards to assure a higher quality.  

Some things to consider:

1) The top 5 exchange was initially announced on March 5 and communicated as "secured":
“Securing a second well-known exchange shows that SVD is an attractive token for the large crypto exchanges. This allows us to create trading opportunities for token buyers on the best exchanges, which is good for liquidity. “ says Dr. Yassin Hankir, founder and CEO of savedroid.

2) The last AMA was 14 days ago but this explanation is new, what means, if the given explanation is true: This certain exchange made the decision to change their policy and to raise their standards and to delay the listing of SVD during the last two weeks, or Yassir didn't communicate that while it already was known (unlikely).

3) If that exchange was already secured in early March, why would a change of policy should have any effect on Savedroid now? Why is it necessary that Savedroid has to meet the new requirements?  

4) Most important and the key question: If this certain exchange has to delay the listing of SVD because they change their listing-policies to raise their own standards, how can the Savedroid-Team still be totally sure that it will just be a delay but not a rejection? How can they know that they'll meet these new requirements?

5) On Twitter it's visible that not one of the top5-exchanges shows an interruption when it's about listings.


With other words: This scenario can only be the whole truth if the announcement in March wasn't as safe as it was communicated since Savedroid will have to meet the new requirements/higher listing standards now. And a delay only makes sense if it's not safe that Savedroid will meet those new requirements. But if it's not safe it's not honest to communicate it as "just a delay".



I can't know it but this whole explanation doesn't make that much sense in my opinion and I wouldn't be surprised if it's just about buying time and if there would be an explanation in a few weeks, like "damn, they've raised the quality standards too high and now they want to have so much money, we will need more time". By the way: Tobson2 confirmed on a question that they didn't have to pay at all to get that listing and also that the exchange didn't back off because of their PR-Stunt - but now they have to meet new requirements. I really don't get the logic here...

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May 09, 2018, 07:25:13 AM
 #2972

Just a full of shit savedroid, they will manipulate the vote to make option 2 win and buy some time to listing the token

What a shit fucking scam project
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May 09, 2018, 08:17:31 AM
 #2973

Just buying time....  list SVD on the smallest exchange and we will sell our tokens asap. No need to big exchange.
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May 09, 2018, 08:27:55 AM
 #2974


I can't know it but this whole explanation doesn't make that much sense in my opinion and I wouldn't be surprised if it's just about buying time and if there would be an explanation in a few weeks, like "damn, they've raised the quality standards too high and now they want to have so much money, we will need more time". By the way: Tobson2 confirmed on a question that they didn't have to pay at all to get that listing and also that the exchange didn't back off because of their PR-Stunt - but now they have to meet new requirements. I really don't get the logic here...

What they told us is that these requirements will be for all tokens were trading has not yet started, so not only SVD. So it neither has something to do with a payment, nor the PR stunt. And I even understand that they higher the barriers as there are really too much shitcoins out there (shit in the sense of the product, not the current tokenprice, which are too often two total different topics).

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May 09, 2018, 08:29:20 AM
 #2975

Fot the delta in minted SVD which was raised previously, besides creditcard there's another even more important factor for that: We have a minting mode and people can decide to not mint there tokens right now and have them directly in our app. Actually a lot of people used this option, so these tokens aren't minted yet and will be minted in the last moment to a programmatic wallet-system of ours, which can be used in the app from summer this year.

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May 09, 2018, 08:47:36 AM
 #2976

Just buying time....  list SVD on the smallest exchange and we will sell our tokens asap. No need to big exchange.

Keep your advice for yourself because nobody ask for your precious knowledge it seems you are not an investor. Just trolling to make panic weak hands to get fill your order.
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May 09, 2018, 09:49:07 AM
 #2977


I can't know it but this whole explanation doesn't make that much sense in my opinion and I wouldn't be surprised if it's just about buying time and if there would be an explanation in a few weeks, like "damn, they've raised the quality standards too high and now they want to have so much money, we will need more time". By the way: Tobson2 confirmed on a question that they didn't have to pay at all to get that listing and also that the exchange didn't back off because of their PR-Stunt - but now they have to meet new requirements. I really don't get the logic here...

What they told us is that these requirements will be for all tokens were trading has not yet started, so not only SVD. So it neither has something to do with a payment, nor the PR stunt. And I even understand that they higher the barriers as there are really too much shitcoins out there (shit in the sense of the product, not the current tokenprice, which are too often two total different topics).

Your Savedroid is #1 shit coin in the world, thats why their reject your token

Just buying time....  list SVD on the smallest exchange and we will sell our tokens asap. No need to big exchange.

Agreed no need to wait big exchange and also no need the exchange , just unlock the token so i can dump this shit token at ED or FD
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May 09, 2018, 11:07:15 AM
 #2978

Just buying time....  list SVD on the smallest exchange and we will sell our tokens asap. No need to big exchange.

Keep your advice for yourself because nobody ask for your precious knowledge it seems you are not an investor. Just trolling to make panic weak hands to get fill your order.
Unfortunately, not only in this channel Sad

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May 09, 2018, 01:16:40 PM
 #2979

Just buying time....  list SVD on the smallest exchange and we will sell our tokens asap. No need to big exchange.

Keep your advice for yourself because nobody ask for your precious knowledge it seems you are not an investor. Just trolling to make panic weak hands to get fill your order.
Unfortunately, not only in this channel Sad


Because everywhere you will ban people (telegram, reddit ,....)
Simple questions will be deleted too. Still you can not count total supply, token must be burn, etc.  How and why?  Huh Huh Huh

Here is my post and your post where deleted
Final number of sold tokens: 4,198,547,126 SVD
http://oi68.tinypic.com/5bpk5f.jpg
http://i68.tinypic.com/5bpk5f.jpg


Tokens to be burned: 2,791,414,560 SVD
http://i65.tinypic.com/15eaarq.jpg
http://i65.tinypic.com/15eaarq.jpg


And now we have new topic  "Tokens to be burned: 3,002,421,457 SVD":
https://www.reddit.com/r/savedroid_ico/comments/8i52m0/tokens_to_be_burned_3002421457_svd/







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May 09, 2018, 01:59:18 PM
 #2980


I can't know it but this whole explanation doesn't make that much sense in my opinion and I wouldn't be surprised if it's just about buying time and if there would be an explanation in a few weeks, like "damn, they've raised the quality standards too high and now they want to have so much money, we will need more time". By the way: Tobson2 confirmed on a question that they didn't have to pay at all to get that listing and also that the exchange didn't back off because of their PR-Stunt - but now they have to meet new requirements. I really don't get the logic here...

What they told us is that these requirements will be for all tokens were trading has not yet started, so not only SVD. So it neither has something to do with a payment, nor the PR stunt. And I even understand that they higher the barriers as there are really too much shitcoins out there (shit in the sense of the product, not the current tokenprice, which are too often two total different topics).

Okay. See, I really don't want to assume that you guys are dishonest but I've learned in Crypto to consider "everything". That's not even meant personally and also not in regards only to this project, but maybe a sign for the principle that spreading doubts (PR-Stunt) can be like a virus while restoring trust is not that easy. If my considerations should turn out as false and you guys as honest regarding the exchange-subject the chance is good that it will be possible.

By the way: I'm not invested but 1) If I was and 2) in case the given info about the top5-exchange is true and there will be no further delay, I would vote for waiting for the top5-exchange. The reason is this: In case SVD starts trading as soon as possible on low-liquidity/volume-exchanges the probability of a dropping price is likely to increase. Those who may have lost trust would be likely to sell and others might panic because of that. I believe the price will probably reflect uncertainty in general and the community shows a lot of signs of impatience. Usually that is a sign of a lack of experience what may lead into an even more sensitive situation on the market. On the other hand: If listed on all exchanges, including a bigger one, at the same day: That would restore trust and decrease uncertainty and the time from now until then could be used to restore trust as well - if done right. But the opposite is also true.

It's an interesting situation because it's a totally psychological one. But... in case your impression might be that I wish this project any harm, that's not the case. I just still believe it would have been right to give choice regarding refunds.
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