The ICO I'm throwing all my money into

in #ico4 years ago (edited)

rentberry-696x449.jpg

Rentberry

Rentberry is a company that was founded in 2015 as an online rental platform where tenants can bid against each other for renting a place, this business model has gotten them both good and bad coverage on the news where they have been called controversial and criticized as pinning potential tenants against each other and making them fight over rental places. The CEO of the company promised this type of system would actually lower rent in typical neighborhoods away from the main cities, but people think it actually made prices go up in some cities.

This rental company saw the potential of block-chain and decided to create their very own ICO, where they will create an ERC-20 based token called Berry token which will be used to interact with their site and pay for rent online using the cryptocurrency. Tenants and landlord will also get discounts for using the token among other things. This has the potential to be HUGE, can you imagine actually paying your rent with crypto? Even for your first and last month deposit?

This could potentially be the next Airbnb, and this is exactly why I am investing in this company. Not only do they have an existing and working company along with a professional website up and running unlike most ICOS, but their idea for using the block-chain actually makes sense as a business idea and could generate huge amounts of profit.

You can find out more about them here: https://rentberry.cryptonomos.com

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I am paying my bills and rent with checks nowadays :/ really hard with my old and outdated landlord - if I could just pay easily with crypto - it would be awesome. I think I will give it a try and join the ICO.

yes been waiting on this one

If it so I will too buy the ICO. Hope for the best. Best of Luck

How much is the minimum to invest?
On indahash tokens its .5 eth which is much big for me. ICOs mostly has huge minimum investment. Poor people like me can't really afford.

There is a 0.005 ETH minimum requirement.

actualy there https://rentberry.cryptonomos.com/ say:
Min Purchase
0.1 ETH / 250 BERRY

Paying rent in crypto is a great idea.

So this is basically the same as LOC.

Seems interesting, do they already have a working platform and a customer base like rentberry though?

What would you do with the rentberry tokens? How would you benefit from the tokens in the future? Sell them to future renters who will pay their rent in rentberry crypto?

very nice. follow me too.

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So what we have here is a company that already exists - but doesn't do well enough therefore they have an ICO, mind you otherwise they wouldn't have had a need for an ICO - to afterward release a useless token. I say useless because the token does not greatly or inherently change their business, now rent can be paid in crypto instead of fiat... So that is the great idea here? People can pay rent in crypto now? I'm sorry bud, but this is one of those many many many absolutely useless projects. Sure it might do well on apthe exchange, mooncoin and potcoin have a marketcap too. But from a business perspective, I wouldn't even throw it in the garbage bin afraid it would infect the other garbage 😉

Yeah, so I am going to have to agree with @akariko. The utility of the platform is there, sure, but the need for a token is not.

It would be better served being a platform that accepts a multitude of crypto rather than creating its own IMO.

The need for a token is there, because they will have full control of the source code and be able to implement new features and fix bugs as fast as possible instead of having to depend on third parties which is a HUGE deal when it comes to software development.

I'm curious to know why you think paying rent with crypto is such a "garbage" idea. You wouldn't use the service?

"So what we have here is a company that already exists - but doesn't do well enough therefore they have an ICO, mind you otherwise they wouldn't have had a need for an ICO"

Seems like you need to do some research before you start spewing garbage, did you even try going on their main site and seeing the listings on there? They were already well funded and raised more than enough money. They have rental properties on all of the mayor cities of the US and other countries. They also have a working payment system for automatic payment of rent and deposits for the time you rent. The reason for the ICO is clear - To make it feasible for people to pay for rent with concurrency, which is currently not possible.

Why do you think people started complaining about their rental bidding system? Because people were actually USING THEIR SYSTEM to bid against each other to get rental properties...That's why they've been on the news. If you're not informed about the topic you're talking about, then go read some more information or before you start spreading misinformation because otherwise you look extremely stupid.

"to afterward release a useless token. I say useless because the token does not greatly or inherently change their business, now rent can be paid in crypto instead of fiat... So that is the great idea here? "

A token that allows you to pay for rent using cryptocurrency is not "useless". The idea is just that, paying rent with crypto. Right now crypto is not a very liquid asset, and it's extremely hard to liquidate it so you can spend it in the real world, the more things you can spend your crypto in the better. The demand for it is there and is not currently being met with any supply, the demand will also grow as crypto gets more widespread adoption. Is that so hard to understand? There is a demand for a service that nobody else is currently offering, so you go and offer it...

"So that is the great idea here? People can pay rent in crypto now? I'm sorry bud, but this is one of those many many many absolutely useless projects."

That's the same thing blockbuster said to netflix, and look where that got them. Your opinion is useless though, what really matters here is what people actually want, and if there is demand in the market for such a tecnology or not. You're not going to be the one investing time or money into the development of the technology so I don't think anybody will really care about what you have to say.

"Sure it might do well on apthe exchange, mooncoin and potcoin have a marketcap too."

You're comparing coins that have little to no difference from the core bitcoin code and can only be used for transactions, to a coin that would be linked to an existing platform that would allow you to rent apartments anywhere around the world.

"But from a business perspective, I wouldn't even throw it in the garbage bin afraid it would infect the other garbage "

From a business perspective? I don't think anybody will be taking business or financial advice from someone who doesn't even know how basic supply and demand works. Just go put your money on a shitty 401k and earn your 5% a year, which is what? 3% after adjusting for inflation?

“Guilty,” I clicked on this post because of the title: I’m throwing in all my money.
I assumed it was an exaggeration because anything other than diversifying is suicidal.
None the less, the title got my attention.
What I didn’t expect to find by clicking on this post is the entertaining pissing contest starring @ethminer45 vs @akariko. Well done fellas, ya’all look real cute. 👍🏿
Judges cards have the contest 1-1 at the end of round 2.
:ding: :ding:

I think his point is that they could've just allowed people to pay with other cryptos on their website. I haven't looked into it yet so I don't have an opinion I just think that is what he was trying to say. If the only benefit is that people can pay with cryptos, there are much easier ways than creating another token. The project looks interesting though

My counter argument would be that they need a full-fledge platform they have 100% control over, so they can quickly fix issues as they come up. As a software developer I can tell you relying on third party vendors/providers is the worse thing you can do.

I.e. if they started taking bitcoin in and there was an issue with the bitcoin network, they would have to rely on bitcoin developers to solve the issue instead of solving it themselves.

https://steemit.com/@huseinjakupi CryptoCracy,
I will be soon ofering some news about the ones 0.000... value ones. which are expected to ennter into collaboration with some giants...

Crazy idea! Did you checked Fast Invest ICO? they already have operating FInTech business, strong background! should we invest?

As a real estate agent in NYC doing sales and rentals I can say that heavily incentivizing the landlord to participate is critical to this getting anywhere. In my market the tenant normally pays the broker fee, first months rent, and the security deposit upfront. Landlords put rental security in interest bearing escrow accounts until the end of the lease term or until the tenant damages the rental beyond normal wear and tear. I’m not sure how that would work with a crowd sourcing platform covering the security in exchange for rewards. I’m also curious to know how fast that rentberry security deposit could be delivered to the LL for a typical $3500 NYC rental. It doesn’t seem sustainable in a high rent market. Not to mention subsidized tenants on veteran programs or section 8, rentberry crypto wouldn’t be simplifying payments for those tenants or for those landlords who are getting program checks. I’ll have to look into it. The bidding wars on the rentals seem to be a selling point for landlords but bidding wars are a possibility with any good rental property.

The idea seemed great at first for me also, but it automatically involves crypto being widely adopted. Which will not happen that soon. And until then, I'm sure that more competent companies with better implementation of the idea will come along. Read this: https://steemit.com/blockchain/@reedus/ico-review-rentberry

Nice little insight. I'm looking to invest in some ICOs but there's just so many ones which I'm attracted to; thanks for adding another to my list haha

I really really hope you didn't throw all your money into this shit project...

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