Post
Topic
Board Altcoin Discussion
Re: Voxelus Investors Unite To Ask For A Refund
by
freequant
on 24/08/2016, 06:05:34 UTC
How is Voxelus a scam? They built a VR market place, a 3D engine and a 3D modeler, didn't they?
Hasley Minor has a track record of building legit businesses, doesn't he?
Businesses fail all the time, that's the thing. Time is of the essence. Voxelus made its ICOs at the wrong time when there wasn't much hot money to get in. They raised 300k USD, that's too little to get anywhere, they had to take from the remaining premined funds to get going, and that obviously affected the price.
They also went for VR too early, a typical killer for businesses. Too early is as bad as too late. Timing is key. VR still very much is a fringe technology, and although it starts to pick up steam, it's still a very long way before mainstream, and together with the failed fundraiser, Voxelus didn't have enough funds to survive until the VR really takes off.

Investors are also responsible for doing due diligence. Although Hasley Minor has been doing well during the Dotcom bubble, this was a long time ago, and recent history show that he has managed to blow 200M USD of personal wealth and make 50M USD of debts since then. So obviously this was a risky bet.

From my perspective, there is very little that can be reproached to Voxelus. And it's fair game for Uphold to try to diversify with ETH and other currencies even though they initially promised to give exclusivity to VOX. VOX has failed. Should Uphold fail too? If Uphold can survive by diversifying, power to them.

OP, you should be happy that VOX still has a price at all on the market. You can still get out now and recoup at least some of your initial investments while you still can. Crypto businesses fail slowly by becoming irrelevant while the equity is still liquid enough to be traded, that's still a very sweet deal compared to real life businesses that fail brutally letting investors with no way out and a 100% loss. Making libelious threads against Minor and his projects doesn't help the price. Ultimately, you are shooting yourself in the foot by doing that. At the very least, be rational and keep your vitriol for after you sold your position. And remember that although failing a business isn't illegal, slander is, so please remain factual in your accusations.