Quote from: iconoclast on May 02, 2019, 12:39:33 PM

Quote from: pushups44 on May 02, 2019, 11:43:12 AM

I like the idea of robot bartenders, but why does this project need its own coin? It can use BTC, ETH, LTC, MIOTA, ADA, EOS, etc. There are too many coins in the market.

Exactly, lots of ideas with their own coin without any sort of compelling reason why they need their own utility coin but as an easy way do a cash grab. Would have more respect for a project like this if they created a security token that represented ownership in the company that owns the project. The world does not need millions of specialty coins to pay for goods and services.

Quote from: pushups44 on May 02, 2019, 11:43:12 AM

I like the idea of robot bartenders, but why does this project need its own coin? It can use BTC, ETH, LTC, MIOTA, ADA, EOS, etc. There are too many coins in the market.

The token itself is crowdfunding tool as stated in the whitepaper. Traditional funding methods aren't an option if a startup is dealing with alcohol. Blockchain helps here.

Also it serves as a loyalty system and incentivise token holder to hold the token. I think security token would make sense and it's only a matter of labeling the token as a security. However considering the regulations around security tokens right now, I don't think it's a smart business decision to have a security token (yet) due to extra overhead.

If you read the paper you'll see that 2% revenue worth of tokens are bought back from the market and burned which gradually reduces the supply and increases the price so the token price by the economics is design to increase. And as this token is a payment method (it's backed by the products of Yanu) you'll have a part of the company by having the token. So I don't think it necessary needs to be called a security token. It's as simple as that.

Of course as with any startup, if early stage investors are interested they have the opportunity to negotiate with founders to buy shares of the company if you had that in mind when talking about "part of the company".

ApplePieForMe

Posts

Merits