Ethereum LNK - Silver-Backed Cryptocurrency Release Imminent
Bridging Physical and Digital?
Investing in cryptocurrency that isn't backed by any physical commodity can be worrying, especially if you're swimming in BTC or ETH profits lately. Even though the blockchain has innumerable benefits in the way we conduct business and basically every other aspect of our lifestyle, the idea that crypto is not usually backed keeps potential buyers from entering the market in some cases.
ETH LNK Project Development:
And that is the way that Ethereum Link really makes itself known. This cryptocurrency acts as the link between the international silver market and the infamous Blockchain. The developers of this breakthrough project are hoping that this digital asset eventually becomes a decentralized market for trading "shares" of silver bullion electronically by utilizing the trading of tokens.
This could be a completely new and successful way we approach the convergence of physical and digital...
Invest In Silver Crypto Token Shares:
LNK, the ticker for Ethereum Link, is crowdfunded through their public ICO. The project has already gained an astounding 431.11 BTC (~ $1,062,638.72), with over 450 investors buying LNK tokens as we speak. The exchange rate is 1 LNK = .01620 BTC.
So if you're into silver and a crypto-fanatic, this type of investment would definitely be right up your alley. Hope you enjoyed this posting!
Thanks upvoted.
Excellent article! Thank you!
You're welcome
I still blv silver is the most under valued commodity in the history of the world. This could really be a big deal.
Looks like you can't participate in the ICO if you're in the US.
This post has been ranked within the top 80 most undervalued posts in the second half of May 26. We estimate that this post is undervalued by $14.61 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: May 26 - Part II. You can also read about some of our methodology, data analysis and technical details in our initial post.
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Jury's Out on This ICO.
I sent a small test ETH deposit to their addy a few days ago using MyEtherWallet. I didn't see any deposit credit on their ICO funds status page, so I checked with Etherscan, which showed thousands of confirmations. Hmmmm. That feeling like one's been "had" started developing.
I checked out the Ethereum.Link site's Team link - no Team members listed. I checked out the site's Whitepaper link, which appeared very sketchy to these jaded eyes. I sent message through their Contact Form and after two days still had no reply. I sent another message stating if I didn't hear from them within 24 hours, I'd be broadcasting a Scam Alert here and Twitter.
This morning I received a reply asking for the details of the transfer. We'll see how it progresses.
NOTES: If you do decide to send funds to the ICO using ETH, be aware of a few possible ways to err sending the deposit if using MyEtherWallet:
(1) Ensure to set the Gas Limit at 250,000 as opposed to the 21,000 default setting. I thought it was a typo on the LNK site, but... I went along with it anyway.
(2) Be sure to select the "Add Data" button on the transaction page.
When one delves deeper into the ETH Deposit link on the LNK site, instructions for the various acceptable wallets mention specific wallet protocols.
In my reply to LNK Support, I queried the dearth of details regarding the amount of physical silver held, where it would be held, and some other information i thought would be essential. I await their response.
Upon further investigation, on Bitcoin Forum I saw some uninspiring comments regarding this ICO - one person claims this same crew has been to the scam rodeo before. And so it goes... As I mentioned to LNK Support, my small loss to this ICO - if it in fact becomes a small loss, isn't a big deal; however, I reminded them that Karma can be a Real Bitch!
So much for life in the crypto wild, wild west. Take care fellow Steemians.
Wow, I'm so sorry if it ends up being a loss for you! Definitely did not envision this being a potential scam as I hadn't yet invested anything yet. Hope it works out for you!!
HI Luke,
Nothing to be sorry for, Mate. Rule #1 - Buyer Be Aware - especially in the Wild, Wild West of crypto.
I hope it works for everyone as I think it's a good idea. I'm still operating under the assumption that in their excitement to get the ICO underway that the Team didn't fully test their coms and links and procedures to advise investors of the success of their deposits. In any case, the loss would amount to a casual dinner out with a domestic bottle of cab/sav. Cheers
Hello Again Luke,
Update regarding the ICO - I've been communicating with the Support Team at Ethereum.Link (LNK) and they advised they are working on updating their Exchanges Made page for the ICO. I visited the page and I can confirm that my test deposits now show on my account page.
There's no guarantee that all will proceed as hoped, but... there is one less niggling doubt regarding the ICO. There's still 11 days remaining for the ICO. I'll sit tight for a few days to determine market confidence and then decide whether to invest further in the ICO. I am pleased that their Support Team is responsive. To be continued....
More analysis about this ICO. Not a great review...
https://hacked.com/ico-analysis-ethereum-link/
Ethereum.Link Support Reply Received:
I'm advised the Team can be seen on https://bitcointalk.org/index.php?topic=1864795 and the Ethereum.Link page will be updated.
Support further advises that the negative comments on Bitcoin Forum are from another "scammer"... so, we go in circles. Also, Support advised that Ryan Francois Venter, previously from Augur, has just joined the LNK Team, https://rfventer.github.io/.
Well, as my post originally mentioned, the jury is still out. I would like a better feeling about this ICO as I'd like to invest further; however... Good Luck to LNK if it's legit. Happy Steemin