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Showing 2 of 2 results by jake582
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Re: [ANN] Real Estate Blockchain Crowdfunding Technology
by
jake582
on 30/08/2018, 09:46:11 UTC
The problem is that they only invested 1.5MM USD in real estate and they said they gonna invest another 2MM USD until end of the year.

Which means they will have 3.5MM USD in real estate assets. I guess the rest of the money is for operating expenses...?

3.5MM USD / 19MM tokens = 0,18$

Starting in 2019, they will accept BTC and ETH. That means not only REAL tokens will be useless but also the REAL token will NOT be backed by anything but based purely on speculation like for BNB. They want the REAL token price to be purely speculative which is exactly what I was trying to avoid when I invested in this ICO.

I think they could use some of their operating budget to be audited by a third party company. That's the least they could do to calm the situation
Post
Topic
Re: [ANN] Real Estate Blockchain Crowdfunding Technology
by
jake582
on 25/08/2018, 09:52:15 UTC
I was really happy with REAL until the last medium post...

I'm shocked to read that they reinvested the 21MM USD into crypto assets. Is there anybody that was aware of that before this medium post?

I write every important information that was sent from the REAL team in a notebook and that's what I wrote:

December 2017
Quote
They sold the operation budget (30% of 37k ETH) for a total of 3MM USD. They said it was enough for several years
if you look at their medium posts you'll not see that information anymore because they removed it.
The information that was removed is still in this bitcointalk thread : https://bitcointalk.org/index.php?topic=2064991.msg25597206#msg25597206

February 2018
Quote
They sold the remaining 70% of 37k ETH for a total of 21MM USD.
if you look at their medium post from Feb 12 you'll not see that information anymore because they removed it. Is that the behavior of a trustful company?
The information that was removed is still in this bitcointalk thread : https://bitcointalk.org/index.php?topic=2064991.msg30723761#msg30723761
If look at the modification date of that medium post, it's 2018-08-16T16:13:44.219Z, 5 days before the news about their loss...

June 2018
Quote
Launch of the platform

August 2018
They say that they don't have 21MM USD anymore.

Today, I don't trust this company anymore. Please let me know if you saw in their medium posts before august that they reinvested the money into crypto assets.