Polymath still a Strong Buy despite some red flags!

in cryptocurrency •  last year  (edited)

For those of us who dont know about Polymath, it is a cryptocurrency which enables securitization of assets on the blockchain. It enables companies to create security tokens which have right to dividends and which investors can expect to earn a profit from. This is different from the idea of utility tokens which most cryptocurrencies are.

Now, what are some of the red flags I am talking about. I will list them in no particular order.

  1. Firstly I would say that the CEO Trevor Koverko ( I have nothing against him) has all pre-rehearsed things to say all the time. That in itself should not be a red flag at all but something that tells me that Polymath is not his brainchild. If its your own concept , you should be able to talk about it like an expert, not mouth pre-rehearsed dialogues all the time as an answer to any query. Trevor Koverko, in my opinion is just a figurehead, a brilliant marketer thats all!

  2. They only distributed 1% of their tokens via airdrop which they distributed through messages on Telegram and thus were able to create this huge 50K+ group, which they constantly boast about. The remaining 99% of the supply is reserved for advisors , management , developers . So that is a huge concern because once the price reaches a considerable peak, there is a possibility of a huge dump. This by far is my biggest concern and a huge red flag.

  3. They've outsourced most of their so called responsibilities of creating STOs such as KYC and AML to their partners. Not only that they are dependent on exchanges such as T zero and Circle to list their new concept called STOs.

Now lets look at what are some of the strong Buy reasons - However, I don't consider this a very long term HODL. This might be one to hold for say a couple of years , not more. However because of the compelling valuations currently , I recommend a strong buy. Polymath is currently at a price of 35 cents or a valuation of around 80 Mn. If they are able to start the process of creating & listing STO's with their partners such as T zero, we might see valuations easily rise upto 5 bn .. thats a 50 fold rise and worth waiting for in the next couple of years.

However be warned, because the Management has most of the coins in supply , we might see a major dump if valuations rise too quickly!

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Investing is risky and one have to do their own due diligence before any investing activity occured. You are pointing a good point of view finding red flags and I salute you for that. DYOD always! Great post

yes the management has to be vested for 3 years I believe, So 2 years out is what your looking at, at best.

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But all stay strong as long as Bitcoin is doing well.

Whilst I agree, holding 99% of tokens for the devs etc is really bad, a pump and dump is unlikely. As they retain such a huge percentage, liquidity will be really low and even if prices reach new highs, they would crash through the floor if a considerable amount of new tokens came to market!

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thanks for sharing!

you have to invest at your own risk, and money that you are afford to lose.

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Will be so much easier to trade shares as a token!... oh but the brokers want their fat commission fees oh well

Awesome :) Thanks for sharing

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  ·  last year (edited)

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thank you for giving the information

Great article, but i think there are better coins to invest in right now.

Congratulations, excellent contribution friend, continue like this

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The condition of all the crypto currency is almost the same. I think its condition will not be different!

The securities token space has huge potential as today’s stock and bonds markets are in the trillions of dollara in market cap. Even if a small percentage would move into the blockchain for processing, it would entail a huge adoption effort. It is also well worth it as it will eliminate large fees due to the middle man and also be almost immediately confirmed as most transactions today take 3 business days to settle!

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Saludos te sigo.... interesante.

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@cryptogem i believe everything done by these business men is all a propaganda... they raise and drop market whenever it is favorable to them. They act like our best interest bis what they care about but on the othert hand they all care about themselves.

thanks for sharing!

If their business is very successful I do not see why a larger firm like Fidelity or E-Trade wouldn't just buy them out. This would make their VC backing happy and customers wouldn't care if they were still making money.

Cryptocurrency is a long way from the "decentralize" everything movement so I imagine buyouts will be happening in the future.

I agree and seems true but why to buy when you can get free ? :)
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Polymath is naturally programmed to be a high hype product: as it is supposed to be the first blockchain project related to finance + assets industries. Not to mention possible big partnerships POLY might secure in the future.

As for the speculation: this can be a perfect coin. But just imagine if price goes 2x 5x / 10x even, the question will be: CAN THEY DELIVER?
Short term, I like this coin. But longer term: I m not sure how this will evolve.

Thanks for sharing

If the coins are focused on few people and not scattered all over the potential investors and traders, then there's really a chance of huge dump.

I thought they were interesting at first but grew disenchanted as it seems like they don't really know what they are doing. Trevor understands in broad strokes what he wants to do, but when it gets down to the nuts and bolts of it they seem lost and rather hearing about milestones it's a never ending list of so called partnerships.... relationships really that just end up obscuring their exact function and value. Polymath continues to become more and more niche when you consider the original road map.

I think the market they are going after is promising, but I don't see Polymath as a big leader. If the development was promising and all signs indicated they were going to be a major ecosystem, institutional investors would be all in already and this would be around EOS levels. There's probably good reason they are fading slowly into obscurity, I'm guessing its because they haven't really innovated and shown how they are necessary at all. More likely than not they will be entirely replaced and out worked when accommodating regulations pass and opportunity opens up.

  ·  last year Reveal Comment