I'm thinking about buying some ICN tokens in the coming days. I'll explain my reasoning below, hope to hear your opinions/thoughts.
Intro to Iconomi
https://www.reddit.com/r/ICONOMI/comment...tart_here/
https://www.iconomi.net/about -> It's basically a Slovenian company that has created a platform where people can offer "DAAs" (basically active funds) to investors. They then charge 3% per year for all assets under management, and a small exit fee as well. Currently they offer one fund themselves, and 12 funds by other people. At the end of 2017 they'll open this up for the larger market so more people can offer funds.
I'm personally not interested in these crypto funds at the moment, however I think many people will be... Funds and index funds are becoming bigger and bigger in the stock/bonds market and long term I see the same happening for crypto.
ICN Token
They did an ICO in 2016, where people could buy their ICN tokens: https://coinmarketcap.com/currencies/iconomi/
Initially, they promised to pay dividends to the ICN holders. However they have since changed this and promised to use profits for buybacks and burning of ICN tokens.
They also have a funds (CCP) which invests in ICOs and is backing the ICN token. I personally don't care too much about this, though it is valued at 50M+ USD.
Furthermore they haven't specified an exact use case for ICN tokens so far. This created a lot of FUD for their ICN holders who have gotten more and more desperate over the last coming months. Price of ICN is currently below ICO price in BTC (still well above in USD).
This all doesn't sound very good, and people are dumping their tokens.
Pros/Cons
Pros
--> I do expect a pump by then at the latest.
Potential Strategy
I'm reminded of the investment quote: "Be greedy when others are fearful".
I think the price is so quite low currently. Their market cap is 100M, while their book value is 120M: https://medium.com/iconominet/iconomi-fi...dc25f30730
I think that a strong pump is possible in the coming months. Release of their Q4 financial report might be a trigger, I expect that to be a lot better than the Q3 report. Or maybe even the BTC fork coming up could trigger an ICN pump.
I'm currently 90% in BTC and 10% in a couple of small alt positions. I'm thinking about putting some extra cash in ICN (would be around 10% of my portfolio). I'm hoping for 2 to 4x gains in 3 to 6 months. I might take out my profits then and keep half of my ICN tokens as a long-term hold.
Thoughts/ideas?
Intro to Iconomi
https://www.reddit.com/r/ICONOMI/comment...tart_here/
https://www.iconomi.net/about -> It's basically a Slovenian company that has created a platform where people can offer "DAAs" (basically active funds) to investors. They then charge 3% per year for all assets under management, and a small exit fee as well. Currently they offer one fund themselves, and 12 funds by other people. At the end of 2017 they'll open this up for the larger market so more people can offer funds.
I'm personally not interested in these crypto funds at the moment, however I think many people will be... Funds and index funds are becoming bigger and bigger in the stock/bonds market and long term I see the same happening for crypto.
ICN Token
They did an ICO in 2016, where people could buy their ICN tokens: https://coinmarketcap.com/currencies/iconomi/
Initially, they promised to pay dividends to the ICN holders. However they have since changed this and promised to use profits for buybacks and burning of ICN tokens.
They also have a funds (CCP) which invests in ICOs and is backing the ICN token. I personally don't care too much about this, though it is valued at 50M+ USD.
Furthermore they haven't specified an exact use case for ICN tokens so far. This created a lot of FUD for their ICN holders who have gotten more and more desperate over the last coming months. Price of ICN is currently below ICO price in BTC (still well above in USD).
This all doesn't sound very good, and people are dumping their tokens.
Pros/Cons
Pros
- they have a working platform and apps already, which seem stable. More functionality is being added.
- first-mover advantage in what could be a huge market (crypto funds) in the coming years.
- ICN has lost a lot of value currently because of the BTC bull-run, making it pretty cheap right now
- milestones coming up in the coming 1 -> 6 months:
- release of the full platform
- start of real marketing efforts (so far very little to nothing has been done in terms of marketing)
- opening of fiat gateway
- specification of ICN utility
- No guarantee they'll reward the ICN holders. They might reward themselves in other ways (high wages, bonuses, dividends...).
- Risk of screw-ups in the company. Competition emerging.
- BTC might outperform ICN.
--> I do expect a pump by then at the latest.
Potential Strategy
I'm reminded of the investment quote: "Be greedy when others are fearful".
I think the price is so quite low currently. Their market cap is 100M, while their book value is 120M: https://medium.com/iconominet/iconomi-fi...dc25f30730
I think that a strong pump is possible in the coming months. Release of their Q4 financial report might be a trigger, I expect that to be a lot better than the Q3 report. Or maybe even the BTC fork coming up could trigger an ICN pump.
I'm currently 90% in BTC and 10% in a couple of small alt positions. I'm thinking about putting some extra cash in ICN (would be around 10% of my portfolio). I'm hoping for 2 to 4x gains in 3 to 6 months. I might take out my profits then and keep half of my ICN tokens as a long-term hold.
Thoughts/ideas?
