Disappointing Bee Token ICO

Deleted member 969102 · Jan 31, 2018

The Bee Token was probably the ICO I was most looking forward to.

It has a good team, nice idea and a massive community. I’ve been following it for a while and I’ve been waiting for today, which is the public ICO.

The team estimated the max contribution would be 20 ETH, so I signed up and got approved under a few different friends and family members’ names. I’ve been periodically taking profit from my coins all this month and I now have ~100 ETH sitting around waiting to buy into the ICO.

Anyway, I get an email last night saying the max contribution is going to be 0.1-0.2ETH... What the actual fuck!

Yes, I understand the community grew since they gave me the 20ETH number. I was never expecting it to be exactly that... but how does it go from 20ETH to 0.1?

That’s literally $100 Initial max. Complete waste of time as an investor and, as a user of their planned AirBnB type marketplace, it’s not even enough to stay a night.

They’ve said that contribution limits will double after 24 hours and then be unlimited for the rest until it sells out, but I’m not holding my breath.

So yeah, pretty disappointing day.

drogon · Jan 31, 2018

I got approved too but not going to bother. Private investors got it cheaper and as much as 60% bonus tokens who will probably dump those extra tokens for a quick profit when it hits the exchanges and might actually not be much of a difference to ico price early on when this happens.

Snoop Dawg · Jan 31, 2018

I was also looking at this coin poised to make a jump.

looks like I'll be giving it a miss.

Is there a reason they limit it so aggressively? Is it to avoid a P&D?

drogon · Jan 31, 2018

They already sold a big junk with 60% bonus coins to the big whale investors who got a great deal so tiny amount left for the general public and with so many people whitelisted, 0.1 ETH is the max cap that would guarantee everyone got something at least, but with the time and trouble and gas fees + tokens not distributed till March anyway, really no point!

Deleted member 969102 · Jan 31, 2018

drogon said:
They already sold a big junk with 60% bonus coins to the big whale investors who got a great deal so tiny amount left for the general public and with so many people whitelisted, 0.1 ETH is the max cap that would guarantee everyone got something at least, but with the time and trouble and gas fees + tokens not distributed till March anyway, really no point!

I was interested in the pre sale but you had to be an accredited investor with like 1-2m investment in traditional stocks... just to invest 50k. Made no sense.

vilcakurt · Jan 31, 2018

elavmunretea said:
I was interested in the pre sale but you had to be an accredited investor with like 1-2m investment in traditional stocks... just to invest 50k. Made no sense.

I know people that had $1+ million ready in pools and got declined by beetoken in pre-sale. They are trolling everyone. And now you can only buy .1 eth at ICO, I hope this coin burns.

Deleted member 969102 · Jan 31, 2018

vilcakurt said:
I know people that had $1+ million ready in pools and got declined by beetoken in pre-sale. They are trolling everyone. And now you can only buy .1 eth at ICO, I hope this coin burns.

No. You needed 1m in traditional stocks and to be classified as an accredited investor.

vilcakurt · Feb 1, 2018

elavmunretea said:
No. You needed 1m in traditional stocks and to be classified as an accredited investor.

$1 million in ETH doesn't count?

Henry Cooper · Feb 1, 2018

vilcakurt said:
$1 million in ETH doesn't count?

Deleted member 969102 · Feb 1, 2018

vilcakurt said:
$1 million in ETH doesn't count?

No.. that’s the whole point of an accredited investor.

You had to have 2 year stock portfolio over 1m or something like that.

Otherwise I wouldn’t have been buying into the public ICO with 5 accounts...

Their email was also hacked as I got a spam email on the unique account I used to sign up.

vilcakurt · Feb 1, 2018

Henry Cooper said:

Gromit · Feb 1, 2018

It gets worse.
https://etherscan.io/address/0xe336327426b8f95a5f5eb1f74144fd9065069c28#comments

vilcakurt · Feb 1, 2018

Gromit said:
It gets worse.
https://etherscan.io/address/0xe336327426b8f95a5f5eb1f74144fd9065069c28#comments

I just found out about this in telegram, such shame.... But I heard they got hacked a while ago. Perhaps this will make the actual token be worth more if it's legit.

Henry Cooper · Feb 1, 2018

vilcakurt said:
image1 image2

Do you have one of these cards ?

"Step3 -> Load your card with dollars using your bitcoin wallet, or via direct deposit through your employer."

It does not say that you can pay with bitcoins . Those bitcoins are converted to USD on deposit . So you lose a lot more money . Basically your average pre-paid credit card ...

vilcakurt · Feb 1, 2018

I do not, but I know people that do. I just send my BTC to friends / family online and they send me funds via paypal to my CC.

Henry Cooper · Feb 1, 2018

vilcakurt said:
I do not, but I know people that do. I just send my BTC to friends online and they send me funds via paypal to my CC.

While I understand that , you used this card as an argument that you can "directly" pay with bitcoins , which is simply not the case . Don't want to be that guy ... but bitcoins and all other "crypto coins" are not a viable payment method , as much as you want to believe it . "Blockchain technology" and "crypto currencies" are two different pairs of shoes .

vilcakurt · Feb 1, 2018

Henry Cooper said:
While I understand that , you used this card as an argument that you can "directly" pay with bitcoins , which is simply not the case . Don't want to be that guy ... but bitcoins and all other "crypto coins" are not a viable payment method , as much as you want to believe it . "Blockchain technology" and "crypto currencies" are two different pairs of shoes .

What does any of this have to do with BeeToken?

But yes BTC is a "viable" payment method. I've been studying the blockchain for years. "crypto currencies" are what you use on the "Blockchain technology". Go learn more about this sh^t bro before you talk to someone with a b.s. in computer science that has been studying this for years.

Henry Cooper · Feb 1, 2018

vilcakurt said:
What does any of this have to do with BeeToken?

I only did respond to your argument .

vilcakurt said:
Go learn more about this sh^t bro before you talk to someone with a b.s. in computer science

If that is where you developed the opinion that bitcoins are a viable payment method - even tho your argument (the bitpay card and the fact that you , as a person , need to send Bitcoins to your friends to get some cash) proofs that you still cannot pay with bitcoins directly , which is the whole point of a decentralized currency - I would recommend asking to get the investment into your education back . While I can understand your bias if you have a certain amount invested into currencies based on blockchain technology or seeing your future income tied to products or projects based on it , the market is not supporting your thoughts . When an event which is not affecting bitcoin "payments" - as an example news reports from china - has such a big influence on a decentralized currency which is supposedly used for "payments" already you should ask yourself why .

When there is hundreds of coins and bitcoins at a 170 billion (European billion) market cap , who do you think is financing your and my trading profits ? The sheep that does hold long . Or do you think money is made out of thin air in decentralized currencies ? For us getting a profit , someone else needs to lose money .

jclee4 · Feb 1, 2018

Vilcakurt I've been seeing your posts in different crypto threads. Gotta humble yourself a little bit man. You kind of come off as a know it all. That "noobs" shouldn't be asking you questions. Chill bruh.. we all here to help each other. No one cares about degrees and all that stuff here. We all here for the same goal. humility man. The opposite is starting to show in a lot of your posts. Just be helpful.

vilcakurt · Feb 1, 2018

jclee4 said:
Vilcakurt I've been seeing your posts in different crypto threads. Gotta humble yourself a little bit man. You kind of come off as a know it all. That "noobs" shouldn't be asking you questions. Chill bruh.. we all here to help each other. No one cares about degrees and all that stuff here. We all here for the same goal. humility man. The opposite is starting to show in a lot of your posts. Just be helpful.

My apologies to you, Mr. @Henry Cooper and anyone else I maybe have offended. I want us all to work together and share our ideas on crypto.

I want us all to be successful and there is no need to argue. Since I lost about half of my crypto protfoilo I have become quite depressed and have been drinking a lot. I'm sorry for my rude comments.

Disappointing Bee Token ICO

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