[ANN][ICO] savedroid - BITCOIN SAVING MADE EASY!

[Darthswan]

Guys, I just read in the comments to the contract (in etherscan) that SVD was awarded fintech company in Germany.
I understand that anyone can write anything there, but just wondering how true this is. Has anyone heard of this? And where I can read more about this? Simply if it were true, the SVD team would already boast of this achievement.

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[tempus]

Guys, I just read in the comments to the contract (in etherscan) that SVD was awarded fintech company in Germany.
I understand that anyone can write anything there, but just wondering how true this is. Has anyone heard of this? And where I can read more about this? Simply if it were true, the SVD team would already boast of this achievement.

It's true and not true at the same time. Payment and Banking awarded them in March 2018, probably because of their successful ICO (raised a lot of money). But the award was withdrawn right after their PR-Stunt, so actually it's not honest and justified to say "Savedroid is an award-winning AI-FinTech made in Germany".


https://twitter.com/paymentbanking/status/986901107854249984
https://paymentandbanking.com/aberkennung-des-preises-zum-fintech-des-jahres-fuer-savedroid/

That's in german but here is an english article that mentions it all:
https://cryptocurrencynews.com/icos/savedroid-scam-but-not-a-scam-pr-stunt-faces-the-consequences-of-a-terrible-idea/


Also other things in that article are misleading. They say:

"We provide easy access to cryptocurrencies for everyone — absolutely no crypto exchange signup, wallet setup, and private key handling required."


Truth is: Sure, one can say that it doesn't need exchange signup because Savedroid is no exchange, but user need it all for Savedroid as well. Savedroid is not Switcheo. It also requires registration and KYC etc.

Even more interesting is that no private key handling is required. Yes, exactly like on a centralized exchange if you decide to keep your money there. Problem is: As long as an Investor doesn't control his private keys he also really doesn't own the money. Like all exchanges Savedroid could get hacked and Users would lose their money.

What's better on Savedroid than on usual exchanges? It may be less complicated. But while users pay 0.x% fees on an exchange per trade, Savedroid wants 15% for each action, which means:

After a user bought into Crypto on Savedroid (15% Fees) he needs about 30% price increase to be able to sell (another 15%) and not to lose money. Not so sure how it can be smart to "save" money that way.


Also interesting is to say "We have created a utility token with a deflation mechanism as suggested by Vitalik Buterin."

Yes, they say that they'll burn a "certain percentage" of the fee. But as far as I know they've never said how much. Now everybody can calculate how many Users it will need, who make their savings-transactions on Savedroid and are willing to pay up to 15% for each action to generate that much volume that a percentage of that will reduce the SVD-supply enough to justify a marketcap of about $50 Million and a total value of significantly more.


Just btw: What do they actually mean with saying "savedroid democratizes crypto! — We’re not kidding"? If they are not kidding they should be able to explain how they democratize Crypto? They will hold the private keys of all of their Users and they are a centralized company. What has that to do with democratizing Crypto?

And especially their PR-Stunt and their unwillingness to really overtake responsibility other than saying "We are sorry" shows their tendency to dictatorship, because who can not even move the tokens so many months after buying into the ICO while who sits on the real money that is not at risk because of all of their silly actions? Who will suffer because of a dropping price because of their damaged reputation while Savedroid rejected all who wanted to get their money back?


But yeah, an "award winning" project "democratizes" Crypto... they must be kidding! ;-)

All what I see since I watch Savedroid is smoke and mirrors. Nearly everything what they say should be questioned because they tend to mislead.

[gembira]

After months finally it will be listed on 10th.

I wonder what will be the price. Because of the long waiting period it can start below ico price.

They promised list SVD to at last one of Top 5 exchange. And after half of year waiting they listing now to this small useless exchanges?

[incetivepro]

After months finally it will be listed on 10th.

I wonder what will be the price. Because of the long waiting period it can start below ico price.

They promised list SVD to at last one of Top 5 exchange. And after half of year waiting they listing now to this small useless exchanges?

Yes,  Because they are scammer (Smart scammer).

[JustBetweenUs]

I see this rather a long term invest and do not plan to sell when this finally hits the exchanges. Right now the climate for ICO's is toxic and unless the SEC decides in favor of the recent filing regarding ETFs this might continue for much longer. Considering who filed this request this time I see however a realistic chance that the SEC approves it this time. Indeed there are many other opportunities, less ICOs but coins you can buy for large discounts.  

It may be possible, chances are better at least as in 2017. But I'm still sceptical. Interesting read but unsure how reliable:
https://theicojournal.com/source-bitcoin-etf-nearly-certain-to-win-approval-later-this-year/

Regarding the use case, I have not seen the app yet but from what I know so far it's sounds like a lot of people could benefit from it, however there were similar projects that combined Crypto Saving with AI like Daneel and they did not take off either, were trading far below ICO price last time I checked. But I see Savedroid superior compared to Daneel as they do not "borrow" their AI from IBM (Watson) and create something of their own.

I don't believe that AI will make much difference any time soon and I don't believe in the big AI-promises of small projects like Savedroid or Coinanalyst. What I believe in: Customers want an easy to use and safe entry into Crypto. That could be the fundamental brand of Savedroid. But that is highly about trust because as a user you will have to trust Savedroid with your money. And they have damaged the trust-topic very effectively. Second: The search for the perfect balance between easy to use and safe is not new. A lot of projects are working on that and in my opinion the future will be about applications and Desktop-Wallets that 1) give user control about their money and 2) are directly connected to decentralized exchanges to be cheap. That future is also not there yet, but it will come for sure.

Savedroid: Will not give users control about their money and it will be expensive. That's something I see as major problem, because I don't understand the concept of saving money while paying 15% for each action and not really owning the assets.

 
The stunt did hurt the brand for sure, the explanation of the CEO afterwards made sense for me, but the large majority never watched that and indeed if you do some research you find mostly sites that report about the stunt at the time and never updated their reports, which is quite normal in the press as most online media is mainly interested in clicks and dramatic headlines. On the other hand people who would have never found out about this project now are aware of it. If you do a bit more research then you will also find out quickly that it was "just" a stunt or awareness campaign.

See... the explanation can make sense to people simply because there is a lot of fraud going on in this space and it's pretty much everywhere. But at the same time it's so trivial and superficial and presumptuous to do such a PR-stunt. In my opinion it goes down to two conclusions: Those who didn't follow the whole story still think Savedroid is a scam. Others find it stupid. To me there is one big conclusion: They think superficially, they focus on bold headlines while ignoring the context. But context is everything.

The paradox is: They wanted to educate others, implying they would have understood this space. But it's just a proof that they don't understand. They are egocentric newbies to Crypto. Also this legal threat because of the study underlines that. Is it wrong to rebut the claims of this study? Of course not. Is it wrong to consider legal actions? Not necessarily. Is it wrong to communicate it that way? Absolutely, because the reactions are predictable. They have put themselves in such a weak position because they themselves have caused the "scam-shitshow". And then they communicate such a threat in public.... it will be forgotten soon but to me it shows again: They make stupid decisions, have zero sense for smart communication and under the line everything is communication.

Or take the whole top5-communication and how the story changed over time or their attempt to hype the Coinanalyst-ICO. And a lot of what they communicate... they like to put others into "wrong" and themselves into "right". A simple example: It's very usual for Yassir to say that they are open for critical arguments but that they don't listen to those who are loud but to those who come up with arguments. Truth is: They are loud themselves and they ban people with critical arguments on their Telegram channels. Or: Yassir likes to talk about the moon prices of exchanges and that they don't want to play that game. Sounds reasonable. What he doesn't say is that they've liked the "Hype-ICO-Game" and still like it (Coinanalyst). And they have given their own token a moon-price.

In my opinion: Narcissistic Hypocrits.

I overlooked this answer, thanks for going into the raised points in so much depth. Very good analysis of the red flags of this project. I think there is a bit more on the upside though.

I think it's obvious Savedroid does or did not have proper advisors when making all these decisions that were hurting the brand more and more. I see this happening with many other projects too. The majority does not have the expertise or experience to actually build what's outlined in their white paper. And even if they are capable, they lack often the network within this space, making it very hard to find the right people or get listed at exchanges. This seems to have affected many projects this year too. As bad as past decisions were made I still believe they can turn the negative sentiment around by doing a sequence of very smart decisions.

The communication has already improved in my perception but that might be subjective. I share the concerns about the fees though, I hope they find a better model. This project can only be successful in the longterm if users see value.

[bitcircle]

Cool concept ..great token

Read the few pages to let know how cool this concept is. Bot account don't know what is the current situation and what they have to say about any token. This comment make me laugh actually all investors are still stress to see what is going on.

[tempus]

I see this rather a long term invest and do not plan to sell when this finally hits the exchanges. Right now the climate for ICO's is toxic and unless the SEC decides in favor of the recent filing regarding ETFs this might continue for much longer. Considering who filed this request this time I see however a realistic chance that the SEC approves it this time. Indeed there are many other opportunities, less ICOs but coins you can buy for large discounts.  

It may be possible, chances are better at least as in 2017. But I'm still sceptical. Interesting read but unsure how reliable:
https://theicojournal.com/source-bitcoin-etf-nearly-certain-to-win-approval-later-this-year/

Regarding the use case, I have not seen the app yet but from what I know so far it's sounds like a lot of people could benefit from it, however there were similar projects that combined Crypto Saving with AI like Daneel and they did not take off either, were trading far below ICO price last time I checked. But I see Savedroid superior compared to Daneel as they do not "borrow" their AI from IBM (Watson) and create something of their own.

I don't believe that AI will make much difference any time soon and I don't believe in the big AI-promises of small projects like Savedroid or Coinanalyst. What I believe in: Customers want an easy to use and safe entry into Crypto. That could be the fundamental brand of Savedroid. But that is highly about trust because as a user you will have to trust Savedroid with your money. And they have damaged the trust-topic very effectively. Second: The search for the perfect balance between easy to use and safe is not new. A lot of projects are working on that and in my opinion the future will be about applications and Desktop-Wallets that 1) give user control about their money and 2) are directly connected to decentralized exchanges to be cheap. That future is also not there yet, but it will come for sure.

Savedroid: Will not give users control about their money and it will be expensive. That's something I see as major problem, because I don't understand the concept of saving money while paying 15% for each action and not really owning the assets.

 
The stunt did hurt the brand for sure, the explanation of the CEO afterwards made sense for me, but the large majority never watched that and indeed if you do some research you find mostly sites that report about the stunt at the time and never updated their reports, which is quite normal in the press as most online media is mainly interested in clicks and dramatic headlines. On the other hand people who would have never found out about this project now are aware of it. If you do a bit more research then you will also find out quickly that it was "just" a stunt or awareness campaign.

See... the explanation can make sense to people simply because there is a lot of fraud going on in this space and it's pretty much everywhere. But at the same time it's so trivial and superficial and presumptuous to do such a PR-stunt. In my opinion it goes down to two conclusions: Those who didn't follow the whole story still think Savedroid is a scam. Others find it stupid. To me there is one big conclusion: They think superficially, they focus on bold headlines while ignoring the context. But context is everything.

The paradox is: They wanted to educate others, implying they would have understood this space. But it's just a proof that they don't understand. They are egocentric newbies to Crypto. Also this legal threat because of the study underlines that. Is it wrong to rebut the claims of this study? Of course not. Is it wrong to consider legal actions? Not necessarily. Is it wrong to communicate it that way? Absolutely, because the reactions are predictable. They have put themselves in such a weak position because they themselves have caused the "scam-shitshow". And then they communicate such a threat in public.... it will be forgotten soon but to me it shows again: They make stupid decisions, have zero sense for smart communication and under the line everything is communication.

Or take the whole top5-communication and how the story changed over time or their attempt to hype the Coinanalyst-ICO. And a lot of what they communicate... they like to put others into "wrong" and themselves into "right". A simple example: It's very usual for Yassir to say that they are open for critical arguments but that they don't listen to those who are loud but to those who come up with arguments. Truth is: They are loud themselves and they ban people with critical arguments on their Telegram channels. Or: Yassir likes to talk about the moon prices of exchanges and that they don't want to play that game. Sounds reasonable. What he doesn't say is that they've liked the "Hype-ICO-Game" and still like it (Coinanalyst). And they have given their own token a moon-price.

In my opinion: Narcissistic Hypocrits.

I overlooked this answer, thanks for going into the raised points in so much depth. Very good analysis of the red flags of this project. I think there is a bit more on the upside though.

I think it's obvious Savedroid does or did not have proper advisors when making all these decisions that were hurting the brand more and more. I see this happening with many other projects too. The majority does not have the expertise or experience to actually build what's outlined in their white paper. And even if they are capable, they lack often the network within this space, making it very hard to find the right people or get listed at exchanges. This seems to have affected many projects this year too. As bad as past decisions were made I still believe they can turn the negative sentiment around by doing a sequence of very smart decisions.

The communication has already improved in my perception but that might be subjective. I share the concerns about the fees though, I hope they find a better model. This project can only be successful in the longterm if users see value.

That (expertise and experience) is very important. I personally understand it more and more the more experience I get and I don't buy into projects anymore that are lead by teams that are totally new to this space but full of false self-esteem that is nothing else than arrogance and ignorance. Another important aspect is a certain kind of humility and honesty - to be aware of the own lack of knowledge, to know that one doesn't know enough but being open to learn out of everything. Nobody is perfect but the best teams out there have a steep learning curve.

And besides of the terrible decisions Savedroid made, it is that what I believe is missing here. They don't seem to learn but move on with their attempts to make a lot of noise while ignoring what really matters. The latest example is that they write about themselves as "an award-winning AI-FinTech made in Germany" while the truth is...

1) PaymentandBanking withdrew the award
https://twitter.com/paymentbanking/status/986901107854249984

2) PaymentandBanking even issued a statement together with several other german fintechs to distance themselves from Savedroid and their action
https://paymentandbanking.com/so-geht-es-nicht-ein-statement-deutscher-fintechs-zu-vertrauen/


With other words: If Savedroid didn't win another award that I don't know, they keep on to make misleadinging PR - one point PaymentandBanking criticised in the statement.

And that's by far not the only issue since their PR-Stunt. And what's the really sad part of the story: They raised such a shitload of real money while all their silly actions are likely to fall back on their Investors. On August 10 we'll know more. The market may give them a hard feedback.

[luzakos_yex]

Im pretty sure nothing will happen @ 10th of August.
Did any exchange announced SVD for listing?

[memii]

These are ordinary and low leveled exchanges so I would like to believe listing on these in three days from now. If there was any single big one then I was seconding your stance that there is no announcement by exchanges. There is dead lock and situation needs to be changed so let the project move one step forward and encourage them to keep listing on more after these ones.

[Sereneharer]

Im pretty sure nothing will happen @ 10th of August.
Did any exchange announced SVD for listing?

Hitbtc usually announce 24 hours before listing, lets see tomorrow there will be official announcement or not

[Darthswan]

Hey @tempus thanks for the detailed information about award fintech company in Germany. This of course is just my guess, but perhaps this comment about the award was written by someone from the SVD team, so they deliberately mislead people, that would somehow improve the background of their project, just before listing on exchanges. It seems they will never change and do not want to work honestly and openly.

[sge99]

Im pretty sure nothing will happen @ 10th of August.
Did any exchange announced SVD for listing?

Hitbtc usually announce 24 hours before listing, lets see tomorrow there will be official announcement or not

For me the good thing with savedroid is that I don't expect anything, at least nothing good. So if they really will be listed on the exchanges on 10th it will will be a positive surprise 

[Suke_Teki]

Im pretty sure nothing will happen @ 10th of August.
Did any exchange announced SVD for listing?

Hitbtc usually announce 24 hours before listing, lets see tomorrow there will be official announcement or not

today I didn't find an announcement from HitBtc if the SVD token will be listed in their exchange, maybe later there will be more delay news, but I hope I'm wrong

[tempus]

Hey @tempus thanks for the detailed information about award fintech company in Germany. This of course is just my guess, but perhaps this comment about the award was written by someone from the SVD team, so they deliberately mislead people, that would somehow improve the background of their project, just before listing on exchanges. It seems they will never change and do not want to work honestly and openly.

No, in this case I was wrong. I saw a comment on Reddit that they have other awards and checked their site and they have (if you go on their site and scroll down a bit.). So it's not a lie from them to say that they are an award winning fintech. They've lost the award of paymentandbanking who withdrew the prize right after their PR-Stunt but it seems that they have others - if that is true, but I tend to believe it is.

It doesn't change my personal view on Savedroid because there have been so many misleading attempts. But in this case they didn't mislead.

[incetivepro]

👉AMA SPECIAL: SVD LISTING SOOOONNN🔜SVD🚀
🇬🇧 Aug. 9th 5pm CEST⏰: https://bit.ly/2nnGyPX
🇩🇪 9. August 19.00 Uhr⏰: https://bit.ly/2KDKC7R
🇬🇧 Aug. 10th 1pm CEST⏰: https://bit.ly/2vx0R1E



I think they do not want to list.  There is no need to AMA. Just unlock this shitcoin.

[Xandan]

It is possible that they to announce for other exchanges than these which were revealed already. One other possible scenario for the AMA session can be showing that they have delivered the promise because it looks like succeeding to list on these exchanges is big thing for them. Whatever is the purpose will be revealed but they can't take risk to hold AMA session and announce another delay.

[gembira]

This devs really crazy. They was waiting half of year and now, when market is very bad decide list to this small exchanges?

[incetivepro]

Exchange date and time:


Aug. 10th  - 8 PM CEST (Central Europe Summer Time)

[luzakos_yex]

The last hope of last beliving investors


I bet nothing will happen today

[incetivepro]

The last hope of last beliving investors


I bet nothing will happen today

They will unlock  SVD tonight. But i have doubt about HitBTC.