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January 25, 2018, 06:53:32 PM |
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Many of us might have wondered why it's becoming impossible to buy a certain token or partake in the Token sale despite a long wait. The long wait includes following the ICO from the begining of their project and till the days of their sales. Most ICO these days have become unfair with interested participants in the Token sales as the KYC (know your customer) has given them a new dimension to play the interested public.
The ICOs have now adopted a 'wait and search' strategy, where interested participants after the filling the KYC forms are placed on hold, perhaps to enable them check the highest bidders for the token sales. The customers KYC form now includes a field where interested persons are to register the willing amount of tokens to be purchased or the value in either ETH or Dollars to be contributed.
During the days of the transparent ICO's, you immediately get notification or a confirmation of eligibility to partake in the sales, but it's a different story now, as the present ones will first select their customers through the highest bidders options and then leaving others frustrated.
People in turn have known this procedures and have now resorted into queuing up with others, either physically known or known from the groups or the internet just to get their own share of the tokens.
One other issue is how people are now selling the KYC forms to ineligible but interested people in the particular ICOs, it doesn't even get cheap anymore as some people would tell you how they have registered with about three accounts, and would offer you one for less than a thusand dollar or 1ETH if you will be purchasing up to the registered amount.
Whether this will continue to happen or there will be some caution is not known yet, but this write-up is just to register a dissatisfaction in the unfair treatment of the ICOs, Whereby any suggestions is highly welcome
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