The ICO market is crazy. There is so much money out there.
There are amazing ICO investment chances, but there are also ....
I don't say Bacor is a scam. But I would not invest in it.
First, when I saw it and read the whitepaper ("Smart Tokens", giving a solution to the liquidity problems of many coins), I was impressed.
But then I checked more:
- The craziest thing about Bancor is, they offering a Smart Tokens, but the ICO terms of Bancor is the worst I ever saw since I'm investing in cryptos.
- Nobody knows how big is the market cap (1 million, 1 billion?). Why on earth do they make a secret market cap?
- If your Eth investment (in the first 1h) will be arriving after this hidden market cap is reached, 80% of your money (eth) will be transfered to a locked smart contract for TWO YEARS. After the two years "all remaining eth will be allocated pro-rata according .. our Token Creation Terms." (What ever that means)
- I couldn't find any successfull project, even one member of the team did before
- How much money is enough for the Bancor team? How much is the value of this smart contract code? More than 100 million$? If the ICO reach 500 million$, for what do tey need this amount of money?
- Who can garantee that there is not a DAO 2.0 and the smart contract code has a bug and all money (and all token) will be lost?
- The investors will only get 50% of the tokens.