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Author Topic: 🔴 FarmToken ICO. The story of a guy who sold soda and decided to save the world  (Read 65 times)
shitcoinoffering
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October 23, 2018, 11:04:24 AM
 #1



Originally published on https://medium.com/@shitcoinofferin/farm-token-ico-the-story-of-a-guy-who-sold-soda-and-decided-to-save-the-world-from-famine-92b6369ed373

We continue to dissect projects, as per request of our readers.
Farm token is a startup, whose founders claim that blockchain can improve the food industry. Smart contracts will store the history of cultivation, transportation and selling of Jack beans. Scammers have never gone so far before.
Our reader told us, that it looks like some school kids created the project. And we can’t not agree with that.

Come on, wtf is this?

Send this to crypto bulls, crypto bears and crypto whales ^_^

Fuck this and all this to-the-moon shit. Not a single explanation of the blockchain use here doesn’t explain why is blockchain actually needed here. Corn can go bad even in the world of smart-contracts. Thai customs can still withhold passion fruit on the border. Bottom line, it’s pointless.

A whole 2 shitcoins. Why, guys, keep your ETH.

What do we have here? The token’s price will depend on a Chinese farmer who’s cultivating yams? Very nice. What about droughts, a locust plague or a bad harvest? What are you gonna do then?

Non-profit approach to agriculture? Philanthropy? As we said before, these kinds of claims help to identify scammers. Let’s say that you want to save a Kenyan boy from starvation. Do you really need to buy a token from a no name company, which can’t say why they need blockchain, in order to help him? What a load of bullshit.
Here’s the big boss. He had nothing to do with blockchain before. He worked in a soda manufacturing company before.

The main (or only one?) social media manager doesn’t mention his affiliation in this project.

The most ridiculous thing is one of the advisors. This girl is studying Java programming in a Utah university. That awkward moment, when potential investors know more about coding than the developers lol.

The community that is boasted about in the white paper doesn’t exist yet.

The same situation is with the money, team, an adequate idea and MVP. I thought that the existence of raw projects has been put an end to back in 2017, however I was wrong. People are still trying to fool potential investors with vocal slogans, fairy tales about liquidity and stability, 2 shitcoins and the absence of marketing. I’m emberassed that I’ve wasted 2 hours of my life on this shit.

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October 27, 2018, 06:12:53 AM
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I am happy that you took two hours of your precious life to review our project. I do not agree with any of your assessment but still would like to thank you for the publicity that you gave us irrespective of its consequences.

Crypto investors are smart people but sometimes they get carried away by hype and misled by prejudices hence decided to respond to your “baseless accusations” but will address only a few because I do not think others deserve any merit. Here are some of your statements that I thought need addressed.

· “The story of a guy who sold soda and decided to save the world from famine”

The token’s price will depend on a Chinese farmer who’s cultivating yams? Very nice. What about droughts, a locust plague or a bad harvest? What are you gonna do then?
Here’s the big boss. He had nothing to do with blockchain before.
The most ridiculous thing is one of the advisors. This girl is studying Java programming in a Utah university
The same situation is with the money, team, an adequate idea and MVP. I thought that the existence of raw projects has been put an end to back in 2017, however I was wrong.
Community is non existent!
The FACTS: 10 companies control everything we buy in the west — all of them billion dollar companies ( see here) All of them rake in billions of dollars a year irrespective if it rains or shines in your part of the world! FARM Foundation wants to join the elite group and be the 11th company where crypto investors get rewarded for backing us because food is big business!

I get it — Not everyone is an entrepreneur hence we have been mentioning about Shark Tank /Dragons Den because we want the token community members to understand what it entails and play venture capitalists like the billionaires on the TV show.

We never claimed to be a charity organization. Donating a small percentage of our earnings to protect wild life does not make us a charitable organization. Infact, for a mere USD 500 any one can become a World Wild Life Fund member and display a banner on our website — but that is not who we are! We want to clarify that a small part of the funds (5%) are used for sustainability and 10% are used for R&D on finding better ways to grow organic food. For some reason the “author of nonsense” has a poor opinion about farmers and thinks R&D into food is hogwash–the truth is that many farmers in the USA are millionaires. Tell me who in their right mind would not want to work with them?

R&D and better ways to growing organic food is not the same as growing yams or jack beans for a living — I am still trying to understand where famine or the Chinese farmer comes in FARM token whitepaper- Whatever!!

Let me give an example of why R&D into food is big money — In the west people are struggling to get off their addiction to sugar. If a company comes up with an alternative for sugar that tastes just as good but does not pack in the calories then that company would be worth billions. Remind me again how many crypto companies have a billion dollar market cap today?

Next, one of your comment was that I do not have blockchain experience and my team is young! If you had your way then I am sure that you will say Kyle Jenner cannot be in cosmetics and Kanye cannot be in the shoe business because they are unqualified lol. I am also sure that you would have belittled Shingo Lavine and George Weiksner because they do not fit your typical stereotype. Now regarding our advisor Pavithra — we bought her on board because she had spent the last 15 months doing research in AI and its uses in blockchain. Everyone on our team knows how to code, read company financials and is an entrepreneur with a passion. I do not think other projects can say the same about their team. ? BTW I do not think an individual’s ability to manage a company or intellectual level has any bearing on their education level — many of the best hackers and programmers in the US/ world have never been to college — I hope you got that part by now!
We have been clear (check our faq page) that we are not reinventing the wheel. Our project is based on ERC20 token. We believe that many awesome crypto companies have built products that we could use for our project. Hence we will be using existing technology from companies like 0X and ripe.io — just to name a few. We do not think MVP is the only way to execute a project — FARM Token is not an app or a software product and this project is not for people like you who are day dreaming about getting rich overnight!

For the presale we evaluated that it would take us roughly 240K to launch the token. This project is not for everyone hence for presale we wanted to limit it to approximate 250 People – because we want to make each one of our presale backers a millionaire just like Chris Haney did with his Trival Pursit game — where all 34 investors who each paid 1000 dollars became millionaires . If all we wanted to do was to scam the crypto users then dont you think 240K is a bit too low?

If you were really looking for shitcoins then you would have looked at all those tokens that are trying to solve a nonexistent problem in the world of finance. Ever heard of anyone even in the remote village on this planet get an extra dollar deposited in their bank account by mistake? — I know a few! But on the other hand there are many who have experienced food poisoning, food fraud like horse meat scandal in UK , fake eggs in China –That is what we are trying to address so that customers can develop brand loyalty to our partner companies and buy our products with confidence.

I am sure that it is on deaf ears because you have already made up your mind. Amazon purchased whole foods for 13.7 billion dollars because they wanted a share of the pie — cannabis laced drinks market is 600 billion USD. Everyone who is rich knows it — maybe you are not rich after all!

After reading your review, your critical assessment and understanding your perspective, I can safely conclude that you have no real world experience and have been living in a socialist country surrounded by people who are risk averse and are devoid of entrepreneurial skills . Some of your comments tell me that you have stereotypes and have personal prejudices! In a bid to prove a point you jumped the gun, did not do your homework, published nonsense all the while claiming to be an expert!

I do not know if the crypto community would ever take you seriously or as credible source.

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