RE: A discussion on the business model of Cobinhood - 討論Cobinhood的商業模式，P.S. 華人加油！
There were issues with Cobinhood management.
Firstly, tokens were not locked till ICO was over. Early buyers capitalize on this opportunity with the extra bonus they had and start selling on Ether delta even though the ICO was ongoing.
Next, there was some drama in the telegram chat yesterday. There was a leaked info of Ian Balina Pool. His pool with a cap of 3000 ETH was offered 150% bonus COBs. Some investors got to know of this and felt threatened that some with the large bonus will dump their tokens once they get a hold of it.
Ian Balina was a so-called "Strategic partner" for cobinhood but the others finds it unethical due to the fact that the pool was created in the middle of an ongoing ICO.
Well, Cobinhood management did a video to apologize and explain themselves. Ian Balina pool got void in the end as the pool info was leaked which in violation of the pool terms between Ian balina and Conbinhood.
Don't get me wrong, I invested a small amount in Cobinhood and believe they can achieve something with it but the process of their ICO worries me. Makes me think that they are not capable. Well, I hope things change for the better after the ICO.
Thanks, understood the issue. I am not sure why they choose not to lock the contract for the private sales buyer and i am perfectly understood why people are upset about the situation. But as a investor, i would like to focus on their business model to decide whether i want to invest in it. Afterall, cryptocurrency is not an asset class where it is perfectly regulated and i guess this is something we need to embrace. I wish cobinhood all the best to deliver what they have envisioned but do keep in mind that ico is always a high risk investment and again dont put everything in one basket. Thank you for bringing that up, a very valid point.