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I for one believe that intentions are important. I do not think it is wrong to question a business plan, but I believe that it should be tactfully done. I think the valuation is high at this point, but I do not believe this is an outright scam as you suggest in your other posts.
As a possible future investor in this venture, I wish Mintspare the best for their start on Monday Feb 3.

There is no clear line between scamming and laziness/ignorance/incompetence.
If I promise to build you a spaceship, charge you a few hundred grand ('coz that's how much I think I could get you for, tops), and use the proceeds to rent an office, a company car, and hire my GF as CFO and...
Have I scammed you, or

Any scammer worth his salt will structure the scam to be indistinguishable from a failed business. That's what makes scamming so attractive - no consequences when it all turns to shit.