[ANN][SMBR] Sembro Token ITO (Bittrex)

[djspang]

Hi, I don't think greed is the correct word. We are not making money off of this...it is going right into product development.

Right. But Bittrex is making more BTC the longer it stays open so they have a reason to be greedy.

I know you'll make great use of the extra funds you'll get from the ITO staying open longer, but the situation nonetheless is throwing a curveball so to speak at the investors who paid attention to the advertised end time and acted accordingly.

I've said what I've had to say. I'll let you guys figure it out from here.

I was one of the early investors, and a small investor at that - approx. 0.15BTC - However, at the advertised end of the ITO, I was entitled to approx. 0.35% of the total coinage - I'm now watching that percentage dwindle every minute - I'd love to invest more, and I would if I had more to invest Just hope this was worth it...

[Celani10]

Hi, I don't think greed is the correct word. We are not making money off of this...it is going right into product development.

Right. But Bittrex is making more BTC the longer it stays open so they have a reason to be greedy.

I know you'll make great use of the extra funds you'll get from the ITO staying open longer, but the situation nonetheless is throwing a curveball so to speak at the investors who paid attention to the advertised end time and acted accordingly.

I've said what I've had to say. I'll let you guys figure it out from here.

Why the fuck is the ICO still open?

Greedy devs?

[Celani10]

Sorry, it was our fault for a miscommunication with Bittrex and a timezone mix up. We want to keep everything fair and keep as many people as possible happy. We are working with Bittrex to find the best solution. Right now it is set to end at midnight tonight, we may close it sooner. 

What the fuck dude?


And what about the Countdown?

Are you guys starting off with lies? Seriously?

[Celani10]

I see this as a fucking greedy move by the dev...


They placed the countdown here earlier to make people think it was ending and make them buy up...
People bought a shitload and now it pumped to first page and there's still hours to go so they will get more money...


This was a fucking dirty move and I don't like it.

You already started the coin misleading ur investors

[Celani10]

Sorry, it was our fault for a miscommunication with Bittrex and a timezone mix up. We want to keep everything fair and keep as many people as possible happy. We are working with Bittrex to find the best solution. Right now it is set to end at midnight tonight, we may close it sooner. 

cut the fucking bullshit man...

You know what the deal was and you made the ITO countdown earlier to pump the coin to the first page

[Sembro Development]

Guys it was a miscommunication and after it ends we will work to reach amicable solutions for anyone that is unhappy.  We take responsibility and we will resolve any outstanding issues early thus week.

[ROBERTO]

At the normal countdown end i think around 30 BTC invested
With my small investment i can expect around 4000 SMBR
Now with your extended time around 70 BTC invested (and not finished!)
My investment return me now around 1700 SMBR !!

For sure i'm unhappy!

Find a solution LOL !! What solution you can find!!

Your solution is to tell me BUY MORE?

 

[tuto]

Christ people, seriously why all the crying?

If you was an early investor (like me) you probably put all you could into the coin, NO ONE knew from the start how many coins they would get or how much BTC would be invested, it was basically a blind buy, you could put in .1 and it might only have a total of 25 BTC invested or you could put in .1 and it could have 250 BTC invested, the timer really is irrelevant if 1) You put in as much as you were willing to anyway, or 2) You got in "late" on the timer which was simply incorrectly set. Either way, it really doesn't matter, the more BTC in, the more "value" the coin should hold and having it run longer simply means that the Devs get more BTC to work with, which as they have already said is going straight into further developments and the coins are spread out over more investors, meaning hopefully less manipulation by one or two larger investors...


Edit; My Point;

The amount of BTC you invested into SMBR is irrelevant if you invested as much as you were willing to in the first place, and if not, you still have time to go an invest some more.
The end result is the same, you may receive less coins because of other people investing more BTC, but  those less coins will have been at a higher SAT cost in the long run;


Assume the following Investments and Total BTC for ITO;

.1 BTC invested, Assume ITO ended at 25 BTC

.1 / 25 * 2.5m = 10,000 SMBR
.1 BTC / 10,000 = 1000 SAT each
Its still .1 BTC invested and your coins cost you 1k SAT each.


Now Assume you invested the same amount but ITO takes more in total:

.1 BTC invested, Assume ITO ends at 250 BTC

.1 / 250 *2.5m = 1000 SMBR
.1 / 1000 = .0001 SAT each

As above, its still .1 invested, and your coins cost you 10k SAT each instead.

[tuto]

Sorry, it was our fault for a miscommunication with Bittrex and a timezone mix up. We want to keep everything fair and keep as many people as possible happy. We are working with Bittrex to find the best solution. Right now it is set to end at midnight tonight, we may close it sooner. 

What the fuck dude?


And what about the Countdown?

Are you guys starting off with lies? Seriously?

Please, go FUD somewhere else, if you don't like what you see here don't buy or get involved. There are tons of Scam coins out there, go try Fudding one of those for a bit instead of trying to paint a legit company in a bad light for a simple miscommunication issue.

[djspang]

Christ people, seriously why all the crying?

If you was an early investor (like me) you probably put all you could into the coin, NO ONE knew from the start how many coins they would get or how much BTC would be invested, it was basically a blind buy, you could put in .1 and it might only have a total of 25 BTC invested or you could put in .1 and it could have 250 BTC invested, the timer really is irrelevant if 1) You put in as much as you were willing to anyway, or 2) You got in "late" on the timer which was simply incorrectly set. Either way, it really doesn't matter, the more BTC in, the more "value" the coin should hold and having it run longer simply means that the Devs get more BTC to work with, which as they have already said is going straight into further developments and the coins are spread out over more investors, meaning hopefully less manipulation by one or two larger investors...

Well put. I have just pawned my children and bought some more. They'll thank me later

[J9901]

Saw a few tweets about this coin, checked the ANN...and if Im correct this is what's going on:

> Dev sets a ITO end time (without informing Bittrex) and uses this as the official ITO close for all investors
>24hrs or so before ITO ends, Bittrex themselves contact the devs to inform them that it was impossible to close the ITO on the deadline specified on the ANN
>After passing original deadline, Dev & Bittrex agree upon a new 12 AM PDT close

ok thats nice.

But it also clearly shows the incompetence & greed of the devs.

First off, why would you NOT initially settle on an OFFICIAL ITO end time with Bittrex long ago? Why decide this last minute? It was so bad that Bittrex actually contacted you guys when it should've been the other way around. It shows your incompetence right there. I wonder what else you guys will screw up with.

Second, now that you and Bittrex are FINALLY in touch, why not respect and try to fight for your initial investors and demand for Bittrex to close the ITO immediately? Surely no one will complain because all investors were already aware of the 'original' ITO close time. Why didn't you fight to close ITO immediately? Let me tell you...Because you guys are fucking greedy. As someone pointed out, a good amount of ICO/IPO/ITO buy-ins happen nearly last minute. Now this coin made it to first page for that reason, now other people will try to jump on the bandwagon, and now the greedy dev is smiling his ass off as he sees BTC pour while original investors are watching as their initiative and risks as early investors are getting screwed.

Now you say you will find a solution for the early investors? lol. What are you gona do dev? Give their BTC back?

This honestly seems orchestrated.

GL to all who invested in this coin.

[tuto]

Edited my above post, but for those who have already got past it and didnt read;

Edit; My Point;

The amount of BTC you invested into SMBR is irrelevant if you invested as much as you were willing to in the first place, and if not, you still have time to go an invest some more.
The end result is the same, you may receive less coins because of other people investing more BTC, but  those less coins will have been at a higher SAT cost in the long run;


Assume the following Investments and Total BTC for ITO;

.1 BTC invested, Assume ITO ended at 25 BTC

.1 / 25 * 2.5m = 10,000 SMBR
.1 BTC / 10,000 = 1000 SAT each
Its still .1 BTC invested and your coins cost you 1k SAT each.


Now Assume you invested the same amount but ITO takes more in total:

.1 BTC invested, Assume ITO ends at 250 BTC

.1 / 250 *2.5m = 1000 SMBR
.1 / 1000 = .0001 SAT each

As above, its still .1 invested, and your coins cost you 10k SAT each instead.

[Celani10]

TUTO shut the fuck up man

Many people here bought at the end cause they saw how many coins were going to be bought. So they could have an idea on how many coins they would get...

Now this greedy dev decided to let the ITO keep going so we get fucked up

If he was a honest dev he would have asked bittrex to stop the ITO. BUT NO, this was the plan...

He lied here so people would pump it to the first page thinking it was about to end so he could get more coins...


All he wants is our money, and bittrex is another shit exchange that supports scams

[tuto]

Both of you are far too short sighted. Sembro is a company who have been around for a while, not some random Kid-Dev sitting in a bedroom trying to scam people.
The more people who are invested from the start should mean the harder it will be for Fudders (teams of them as you two clearly are aware) and so called "Whales" to manipulate the coin into non-existence.
Think for five minutes what it could mean to Crypto if a company/developer who makes "main-stream" stuff comes along and does well with a Crypto coin. Everyone is always complaining about the short-sighted shit like this and does not seem to consider the fact that once in a while a new coin could actually "make it" into the main-stream and be more widely used than simply short-term fast-flips.

[Celani10]

I don't give a shit dude, if they promised a end date here they should keep it.

They lied to everyone who invested before the countdown ended

[Celani10]

I don't give a shit dude, if they promised a end date here they should keep it.

They lied to everyone who invested before the countdown ended

Also they just removed the countdown from the OP hahahah


How this is not scammy? Seriously....

[Ton]

Both of you are far too short sighted. Sembro is a company who have been around for a while, not some random Kid-Dev sitting in a bedroom trying to scam people.
The more people who are invested from the start should mean the harder it will be for Fudders (teams of them as you two clearly are aware) and so called "Whales" to manipulate the coin into non-existence.
Think for five minutes what it could mean to Crypto if a company/developer who makes "main-stream" stuff comes along and does well with a Crypto coin. Everyone is always complaining about the short-sighted shit like this and does not seem to consider the fact that once in a while a new coin could actually "make it" into the main-stream and be more widely used than simply short-term fast-flips.

Come on Tuto, you know it's not even a real company!

It's only Ian and the rest has been picked up from the street or made up.  Luigi Cesaratto jumps from intern to vice president (of a real company??)

Oh, and they use gmail accounts?? Well they must be serious then.

[ROBERTO]

All,

First, an end time was never agreed upon by us and the dev team.  This was done without our agreement. We would have never agreed to a 6am PDT closing because no one is up during that time in our timezone.  Next, I emailed the dev last night explaining that couldn't be done and asked him to revise and we agreed on midnight which is our normal standard operating procedures.

It's not an ideal situation, but nothing that can't be worked through.

thanks,
richie@bittrex

Thanks for the information (maybe just a little late) but i just don't understand why you don't advertise people on your site or here because you know, since the start you make it, you can't end the ITO in due time

[Altcoin4life]

I only bought this because Megan is sexy, and we need more of this in crypto instead of this geek army.

[Burninj]

Another scam by bittrex, what did you expect from this bunch of thieves and scammers?