RE: FIRE-SALE ::: DomRaider ICO ::: Day1 and Nearly Sold Out!
My question is what exactly are investors in this ICO expecting to get?
Have you even read the white-paper?
They offer no ownership of the company, no voting rights, no dividends, no influence, no participation in anything. They say this is not a crypto-currency, it is not an investment. The management accounts show that they create this TOKEN out of digital bits costing nothing, and sell it to you for a lot. The difference is PROFIT, which benefits the company, the existing shareholders, and employees, but not you.
The white-paper spells out in multiple places that the tokens confer nothing on the buyer. They say the tokens being issued are not a digital currency and are not a payment service. They say the tokens "do not represent an investment". "They are not a security nor a financial instrument, and do confer any direct or indirect right to the company's capital or income, nor do they confer any governance right within the company"
They are going to issue 1 billion tokens, and there is nothing in the white paper saying they can't issue more.
So my question is this? What do you expect the tokens to do for you? Why would you buy them?
The tokens will be the backbone of the blockchain Domraider platform. You will need them to use for auctioning services.
A lot of what your reading is based on what there lawyers most likely told them so they can remain compliant with laws. Almost every single ICO has the same disclaimers because of the regulations coming into play for blockchain securities.
As for issuing more... It's a smart contract based token ran on ethereum. If it's hardcoded to not issue more, then basically they cant unless they create an entirely separate token.
I follow the money, at $40mil invested, it's hard to say all those investors are completely wrong
Ah yes the lawyers: "you can't sue us for anything and we promise you nothing".
Following the money has often been a good strategy. Sometimes you might be following the lemmings.
I had a conversation with Domraider earlier today about the ICO via online chat. I spoke with Benjamin. I asked him what the maximum number of coins to be issued will be. His answer: "1.3 billion tokens".
That's certainly a higher number than the number mentioned in the white paper.