At the moment of the platform's launch intended for February 2019 we will have a strong audience of coin holders and a potential of interest for making purchases at the exchanges. The average cost of listing on second-tier exchanges is about 10,000 U.S. dollars. But exchanges like Kraken, Poloniex, or Bittrex do not accept unpopular coins for listing. A big number of coin holders will come in handy here, and so will an active discussion of the project among the crypto community.
All these solutions will make a potential investor aim at purchasing a limited number of coins at the stage of a closed ICО (3,000,000 coins). A big investor, having received reliable information about the project and its organizers, will think of investing 0.1–2% of their portfolio into a potentially hyper-profitable project. In our case, this is the most efficient way as a big investor will not sell all the coins after they grow by 2–3 times, supporting the community's growth in so doing. The main mistake of the projects that give preference to bounty campaigns and airdrops is that the numerous enthusiasts who have received tokens for free will sell them at the exchange at once after the end of the ICO. This decreases the value of the coin dramatically, causes panic among the investors, and makes the project look sad.
Unfortunately the emerging sphere of ICOs, which is not controlled by regulators yet, invents the rules in the course of the game. Some ICO projects practice the following tactics:
· announce the softcap of, say, 3 mln dollars,
· use a script that will automatically create hundreds or thousands of controlled wallets. It will, using the developers' own money in the turnover, purchase tokens from its own project. Today there is nobody who would control the creation of new wallets, which may be perceived by real investors as really existing people.
· this way, they fill their wallet (contract address) with mostly phoney transactions, for example, in the amount of 1.5 mln dollars. When watching these transactions on http://www.etherscan.io
, the investor will not think that these frequent receipts of funds are only the script's work.
· showing how successful they are in this way, they can collect about 100–200K USD from second-rate investors on the "hype".
· one week before the end of the ICO, they declare that the softcap has been collected (hence making it clear to potential investors that the success is inevitable),
· they sell tokens to themselves in the amount of another 1.5 mln, announcing that 4.5 mln have been collected successfully (but having collected only 200–300 thousands in fact)
· after the end of the ICO, having paid 20–50 thousands U.S. dollars for the listing on several exchanges, they decrease the value of the tokens together with "bounty hunters", selling them for any possible price. As the expenses on the creation and technical implementation of many projects aren't high, the organizers don't hesitate to sell a part of the accumulated tokens for a knock-down price, hoping that eventually the coin will have its hype, and the investors will start investing dollars in it, like investing in Bitcoin.
As the funds have to be returned to the investors in case if the softcap is not achieved, and huge amounts of money have already been spent on marketing, they see such manipulations as the only possible way out.
In order to avoid such a situation, we see the sale of tokens as a way of the platform's popularization and not as the need for attracting funds to complete it. This is why we do not persuade potential investors to urgently buy a great number of SNcoins, we are going to continue working at the platform in any case, and the very idea of creating a platform for scientific projects with decentralized expert appraisal obliges us to be consistent and transparent for all parties involved.
We will use such forums as BitcoinTalk and Reddit, and also social networks, including asking the existing and future participants of the project to re-post our articles and publications. We'll benefit greatly from meaningful articles on the http://www.medium.com
portal. We are definitely not going to advertise our project with the aid of youtube bloggers and in those venues, the audience of which mostly consists of newbies in crypto investments.
My prejudice that Bitcoin and many cryptocurrencies are pyramid schemes has not changed. But the efficient work of the ScientificCoin platform requires decentralized experts, the great use of whom I described in the previous article https://medium.com/@maxdvedenidov/scientificcoin-blockchain-platform-for-scientific-projects-with-decentralized-projects-valuation-227586e015e
. After passing the stage of broad awareness, the ScientificCoin platform will be the foundation of the eponymous cryptocurrency, which cannot be destroyed by the rate speculations.
Having millions of SNcoin owners we will reach the critical mass that the well-known social networks, mobile applications, etc. have achieved. The holders will use ScientificCoin to generate passive income (each project that has attracted financing via ScientificCoin pays 5% of the raised amount, which are annually distributed among the holders), and the other ones will earn money by working as experts or miners, doing socially useful work.