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RE: Telegram raises an insane $850M in its ICO presale
This ICO seems fishy. Pre-Sale Investors must invest $20 million or more, getting a 50-60% discount and less than 50% of supply will be held by stakeholders in total. Also, there's no working product and they have no blockchain experience. They are promising the world much like Tezos did in the summer and now has blown up.
Yup, Charles makes some really good arguments for the bearish case for this ICO: https://tokeneconomy.co/a-ton-of-crap-b1e264c36802. Are you saying Telegram is only selling less than 50% of the supply?
Yes, I had read somewhere before TON will control 52% of supply. Only 48% will be sold. I am going to verify this now.
Only 44% of supply will be sold to investors. Institutionalized Pre-salers are getting a huge discount before the public is. Its likely to get dumped after it starts trading on exchanges. They are talking about a $2 Billion ICO with no working blockchain. They are making a huge amount of promises like 'fun fiction'.
Is the $2 billion ICO an extrapolation, i.e. they actually plan to sell 48% of supply, so they actually plan to raise 0.48 * $2 billion = $960 million?
The total amount raised keeps going higher in the pre-sale. In total with public sale up to $2 billion!
Btw, took a look at your blog. Love your stuff, gave a follow :)
Thanks. Great article. Did you post on ETH Trader?
Yup
Good. Community needs to know how shady of an ICO this is. You're currently #1 post on Ethtrader.