I have been following this project for some time and really itching to invest in the token sale.
The updated whitepaper where it says you get basic app access for 1000 TAY is nice and i will probably use that.
The thing i just don't see yet is the use of the tokens if you are not planning on using the app.
They say you can pay for a subscription using tokens but you can also do that by credit card, so no real need to buy tokens to get a subscription.
The other premium services for which you can pay with TAY are still not clear, so right now i have no clue if these tokens are of any use??
Please explain the use of tokens a bit more. Just can't see the value of it right now if i can also pay for a subscription and additional features with a credit card.
Also if i do the math correctly, 1000 TAY will give you free App access, the basic membership will be around $ 60 a month, so that's $720 a year.
So basically 1000 tokens are worth $ 720 (if you considder holding them a year) which means $ 0,72 cents. The token sale lists 1 TAY at 0,0007 ETH which is around $ 0,63 cents now.
So by taking a risk and buying 1000 TAY i will have to use the app for at least 10 months to end up saving money on a subscription. I might not like it or use it longer than 10 months. Also the first 6 months are free so basically i have to wait 16 months before my ICO tokens will be cheaper than just buying a regular subscription with credit card.
So it comes down to the question: What can i do with the tokens besides using it on TAY services and subscriptions, and what will the exac pricing be of the different subscriptions and additional features.
debass, thanks for your time analyzing our project.
the use of the token is basically to pay for the service, but sure not only that in the future. There is one feature in our roadmap, the social trading will probably use our tokens to monetize strategies created by our users which is another utility for the token. But for now, it is only to pay for the service. The premium plan will only be accessible for the ones how paid using TAY or by holding 3000 TAY. There is no other way to access the premium plan, even by credit card. So all the value depends on the value of the features in the premium plan. We have many ideas for that, but here are two features that we will implement:
1) higher trading limits
Due to the fact that our main user target is newbies to crypto, we will set a strict trading limit for the basic plan. So, every more experienced user will probably want the premium plan which only can be purchased using TAY.
2) priority notifications
Since trading opportunities using the scalping strategy have a very short life-span, the users that act quickly will be able to make more profitable trades. We will not delay notification to basic users, but premium users will receive it first.
We believe that only these two features plus more to come will set a proper value on the premium plan.
You said:
Also if i do the math correctly, 1000 TAY will give you free App access, the basic membership will be around $ 60 a month, so that's $720 a year.
So basically 1000 tokens are worth $ 720 (if you considder holding them a year) which means $ 0,72 cents. The token sale lists 1 TAY at 0,0007 ETH which is around $ 0,63 cents now.
I think this is not a great comparison since you are comparing the value of one year of holding with an immediate value of the token. The point here is how much 1000 TAY will be valued in one year. Will it be more or less than $720?
Our view of the holding feature is that someone wants to hold because he or she believes that the price will appreciate over time and, because he or she is holding, he or she will be benefited with the free use of the app. That's another way of seeing it.
Another way to see it is the fact that the money you put paying for the subscription is a sunk cost while the holding is not. By holding you can get your money back (or at least part of it depending on the TAY price). I don't think it is fair to compare a sunk cost with money put in holding of tokens.
One information that I need to correct in your thinking is that the first 6 months will be free. That is not correct. The service will be free while the app is still in beta. We will start charging when it leaves the beta.
Thanks again!
