Post
Topic
Board Announcements (Altcoins)
Re: [ANN][SMBR] Sembro Token ITO (Bittrex)
by
Sembro Development
on 28/10/2014, 00:39:02 UTC
Just to make things clear, please read what we have posted. We said we MAY post a buy wall based on community input and had a 24 hour refund window directly following the ITO closing on Bittrex where we only received one request and issued a refund.  Now that several days have passed and the price is dipping, it appears buyers want a bailout.  The wall does not appear to be the best option.  The main purpose would be to help out early investors, but creating the buy wall now would not be the best solution because it does not guarantee only early investors could exit their positions if unhappy.  We took a hands off approach to this ITO and do not own more than a few btc worth of the token, many other ICOs have resulted in the dev team controlling a large stake and manipulating the price.  Our mentality was and is for this to be a coin owned by the community and not controlled by any one major source.  We will not let this coin fail. It has only been live on Bittrex for a matter of days, give it some time.  If you take a look at historical records, the vast majority of coins (not designed specifically for a massive pump) follow a very similar trend when first hitting an exchange.  It takes time for support to build and we are keeping a close eye on it so we can help support it if necessary, but we cannot stress enough it has only been a few days.  I know it sounds lame but it is the truth, in a true free and decentralized market, like Bitcoin is based on, the fair market value of the coin is dictated by the community, not a centralized source (aka dev team, majority holder, etc.).  For anyone that believes that we may have profited directly from the ITO, that is the farthest thing from the truth.  Look over our roadmap (visual and explained in detail).  We have big plans, that are not just ideas, but are nearing completion and will be launching in a matter of weeks.  We encourage holders to actively watch over the next 1-3 weeks as we begin unveiling products.  If you choose to hold your coins, we will all profit together over the upcoming years.  If you wish to not be a part anymore then go right ahead and sell your coins, we will be there to support the network and add support to stabilize it when needed (it has not been live long enough to even settle on a pricepoint for more than a day so we will really begin our work once it settles).  We are by no means ever abandoning this project and will use it as a great example in the near future as to how crypto has progressed in such a short period of time despite the critics. We hope each and every one of you understands that we are here to stay and our goal is to take crypto mainstream and make an impact on society.  If you are still a non-believer then just sit back and watch our new products and services unfold.  This is not a get-rich-quick scheme, it is a sustainable business model.