Quote from: betamonosit on July 31, 2018, 10:34:22 PM

The worst part is that the Airdrop numbers they cam up with were total BS.

They did the following calculation in the announcement:

Example 3 : November 10-18 GRFT price avg 0.0000131 BTC (and the price hasnt crossed 0.0000262 BTC before then), each ICO purchase of 1 GRFT will receive ONE additional GRFT via airdrop.

Now if we do the following calculations with todays value:
About 6M USD was invested in ICO ~ 22M Graft coins.
If the price halves as they said here, they will airdrop 22M coins. Now here is the problem. The price today is only 0.00000205. That is 12x that amount in coins. Which means an airdrop of 264M coins not 22M or 50M!. Now if the price goes down to around 120 satoshi, you can double that amount one more time to ~500M Graft. (480M) The price of 120 sat is not coincidental. This is what the price dropped to shortly after the release of the coin on tradeogre but before the pumps that happened.

So now the project has three options:

1. Wait and hope that the coin price will rise and the Airdrop will not happen. This is however a not likely scenario. The project laks fundamental marketing strategy and the coin is virtually not known anywhere.

2. Buy up a shitload of coins to get the price up. This could very well happen, but here is the problem. Doing so is intentional market manipulation, if it ever were to get out shit would go down and i not only talking about the price of the coin.

3. Cancel the planned Airdrop. (Not likely)

Now the airdrop itself is the worst idea yet. Imagine if Facebook, after the IPO and after the stock went down, stated that they would reimburse with new stocks cause the market said it wasn't worth the price they were asking....that is just not how these things works. Also as an ICO investor you take a risk, you agree that you will invest in the project or company for profit or for ideology. This could get you filthy rich or you could loose everything, however this is a risk that you were willing to take. Basically GRAFT is screwing over the community with this move.

And yes i know you as an ICO investor would really like to have your investment back and safe, but think about it. If 500M Graft were released to the market at one go, what would you think would happen with the value? Current Sell orders at tradeogre are around 6M Graft and increasing, now imagine if that was 22x the amount or 200x the amount, Because yes, someone will hold, but some will also see this a great possibility to recoup their risks and investments.

And here is the sad part. I Actually think that GRAFT has some great ideas and a great product. The Veriphone partnership and the the payment systems are one of the leading things i have ever seen in the crypto community and way ahead of other projects that are out there. We were even thinking of implementing GRAFT in our own products. But with this, we see that there really is no strategy behind the decisions being taken, and its sad. If the airdrop happens and the SEC gets word of if, this coin value will plummet faster than a stone in water. And then we are talking risks.

As an investor
You know what i would do if i invested a large sum in graft? I would hold it, just up to November 8, then just starting to dump it all. The Graft project has basically give you all a free golden ticket here. Lets say i invested 250K graft. I hold it to just before the airdrop average date and dump it all. Maybe i'll make up about 5% of my initial investment, and the price goes further down.

But here comes the kicker: No matter how low the prices goes i will still recoup my investment. Of the 250K i invested Graft will kindly give me the remaining 95% that i "lost" on the value decrease. How kind of them

And ofc i'll sell that amount as fast as i can to recoup even more, knowing that most of othe other investors will do the same and push the price further down. Now when the market quiets down again i can go in and get tonnes of coins at a ultra low price, if the project even lives that long (as i don't think will happen).

I didn't invest in the ICO and i don't regret it. However i did buy up a good chunk of graft which now is sold. Now i'm just waiting for the airdrop date

FYI the airdrop is capped to unsold ICO funds that are already included in the circulating supply. By my calculations, there is a maximum of 60 million unsold ICO funds currently in the circulating supply. Therefore the airdrop will be for no more than 60 million GRFT.