Re: [ANN] REAL [ICO] Invest in Real Estate, Earn Ether [AUGUST TOKEN SALE]
Can you tell me how this project is "asset backed" when they are pulling money out of thin air giving out up to 25% bonuses?
Only the crowdsale tokens are "asset backed" (that's 51%) and on top of that you have bonuses up to 25%! These bonuses are not "asset backed" either.
They must have been called out on this before, no? I can't be the first who has noticed this. I don't have time to read trough 100+ pages to find their response to this. Someone knows?
Only the crowdsale tokens are "asset backed" (that's 51%) and on top of that you have bonuses up to 25%! These bonuses are not "asset backed" either.
They must have been called out on this before, no? I can't be the first who has noticed this. I don't have time to read trough 100+ pages to find their response to this. Someone knows?
I think you got it wrong. Page 23 of WP. The were presumably willing to invest 70-80% of what they got from token sale on condition that money for COP are deducted. Since COP (Core Operating Budget) was estimated to be 8 million dollars, they are left with 3 million. So in fact it would mean they are investing 25%
As a RE professional I was quite active here in early September trying to open eyes of those who saw this project as 'incredible'. I asked loads of questions to Melissa, but she wouldn't answer. And I'm not surprised as these were serious questions regarding financial terms. I tried to warn all those who apparently had never have any experience in RE, but after a while I realized that there is no hope for them.
Lastly, even if they were to invest 11M and get 12% yield, that makes 1,32M a year. 10% (their profit) would be 132K a year, that is 11K dollars a month. ELEVEN THOUSAND DOLLARS. Do you really think it is possible to hire bunch of RE and Blockchain specialists for that amount of money? I mean.... C'MON
You're right, but wouldn't it be ~80% of 51% (or ~40%)?
I'm referencing the whitepaper from my phone, so it's not easy to double check.
Either way, anyone who invested in this ICO signed up for a guaranteed loss. It's like saying "Here's $1.00. Please invest $0.40 in real estate for me and keep the change."
This isn't FUD...it's simple math. Even if they hit their target investment returns, it'll take token holders years just to break even.