What to do with Polymath?

polymath

#1

What kind of world we are in? A few days ago i only signup for Polymath they gave me 250 tokens from airdrop. They didn’t have ICO or something.
Now tokens are traded at 1,25$ per. @etherdelta/idex
I didn’t throw a stone, just signed up for polymath, did not read anything about them. Lol, it’s my monthly rental fee. Is that happens more often? :slight_smile:
Sell - buy - hodl
Any though?

Editted to clarify question; have you ever experienced this kind of token distribution? How it works?
Thanks


#2

I would do a lot more digging into Polymath. I saw a post where a guy completely tore it apart and really seemed to expose it. DYOR but I wouldn’t touch it.


#3

I did my own research on it. I think Polymath is the real deal.


#4

Also this pitch deck they have helps - https://www.polymath.network/resources/deck


#5

The whitepaper really is a great read. Highly recommend it: https://uploads-ssl.webflow.com/5a46fad33472ef00014b540a/5a7f30c8d2e04c0001f46390_Polymath%20Whitepaper.pdf

This is definitely one of the most generous airdrops I’ve been part of.

I am excited about the project, especially in light of the recent SEC event.

I am HODLing my tokens!

:v:t2:


#6


The following is a quote from the Reddit post.

TLDR

Gallery of screenshots taken that sums up how much of a joke Polymath and their CEO is: https://imgur.com/gallery/Z0HsD

Polymath Network lists Digital Assets International as Confirmed Issuer

DAI website lacks substance, unbelievable, and non-functioning (portfolio, blog, investor login, case studies, the team) (website link: https://www.digitalassetsinternational.ca/ )

CEO of Polymath Network Trevor Korverko is listed as a partner in connection with the awful site.

CEO Trevor Korverko claims “Founded DAI, world leading private equity firm focused on acquiring ultra profitable websites” Only truth is the Founded part. The rest is a blatant lie.

Proof that Trevor Korverko is a liar, incapable, and not worth your trust.

No substance, only a marketing ploy.

Conference hosted by Polymath “POLYCON18” is suspicious and could be the scam for making money.

Grit Capital (https://www.gritcapital.ca/) - website isn’t even up and running.

Untraceable (https://www.untraceableinc.com/) - 3month old website yet claims “Since 2013 Tracy and her team have run events within the blockchain and crypto space”.

I question the legitimacy of a conference being hosted by Polymath and would warn anyone who is considering on buying a ticket to think again.

There are other issues in regards to the POLY token itself, but the company Polymath itself is shady as a whole.


#7

CryptoMoon - I think you’re way too harsh on Trevor. Did you have a chance to read my post?

I did some research on these partners.

Here’s Summerhill Ventures - http://harkencapital.com/2008/01/summerhill-venture-partners-closes-inaugural-175-million-fund/

Here’s Skyline Capital - http://www.skylineonline.ca/investments/skyline-apartment-reit/

You don’t get advisors like Patrick Byrne (Founder of Overstock.com), Erik Voorhees (ShapeShift), David Johnston (Factom), and Anthony Di Lorio (Ethereum) if your project is shady, IMO.


#8

I simply posted a link to a reddit post and quoted it. None of that is my opinion.

With so many scams out there I think it’s important to have some counterpoints.


#9

Fair enough, I just think the word “scam” is used too often in the space.


#10

Great review

Will Polymath change Everything?!! – Boxmining


#11

I love this project and have a lot of faith in Trevor and the team.


#12

I think it can become massive. It might be the next generation of NEO’s/Lisks/Omisego for gains. Tokenizing securities/making icos where companies don’t have to worry about breaking laws/legal issues is amazing.

Lets not forget securities are already a $10 trillion market.


#13

I haven’t read a lot into polymath so I can’t comment but a similar coin is doing the same and it’s one of my favourite projects. Check out raven coin.

Raven want to build a blockchain that is specifically used to trade tokonised assets forked from bitcoins code.

"Ravencoin is Free and Open Source Software.

This code and project belongs to the users and is not controlled by any central authority.

No user needs permission to use, build on or develop the Ravencoin code and Ravencoin blockchain.

Thank you to all contributors."

I have also been looking at the guy who created it, Bruce Fenton. This guy is the founder of satoshi round table with attendees like Adam Back blockstream CEO, Shapeshift CEO Erik Voorhees and Bitcoin Core developers Peter Todd and Eric Lombrozo. Overstock CEO Patrick M. Byrne

Some very big connections there.

No ICO, No premine, brand new asic resistant algo.

there seems to be no urgency in the project, maybe because the lack of marketing. It may amount to nothing but I do think coins with this kind of backing and fair distribution don’t come along often, these days it seems like ICO’s and the company’s or teams take a large cut of the funds raised so I’m willing to take a punt with as we don’t know when Something similar will come along again. I’m holding this for long term though not for short to mid term profits so I don’t mind if the price drops.

There are quite a few negatives, no decent whitepaper, website is limited, no roadmaps, high starting market cap but like I said I’m willing to gamble a small amount that I am willing to lose just because of the connections Bruce Fenton has,


#14

Sorry to post this here, but I think it’s interesting for people to know who are interested in tokonised assets and securities, in my opinion it’s the biggest market after currency.


#15

This is interesting so polymath and raven both have some of the same connections surrounding both projects


#16

Gets even more interesting, just found another project for tokenised assets, and guess who’s name pops up again.

Something big could be brewing here


#17

So I just bought a small amount of polymath and was looking to invest in txero but tzero is only open to accredited investors who earn a substantial amount or have a high net worth. It looks like it’s a legit investment that have rules and regulations.


#18

I wrote about all of these projects here - https://medium.com/@peterhaymond/the-start-of-tokenizing-real-world-assets-48472a8ae814

I wasn’t aware of Ravencoin until a couple of months ago. I should’ve downloaded their client, because now you can’t mine from their wallet with a single core.

I did my research on Bruce Fenton. I was talking with him yesterday on Telegram. It’s still unclear to me how exactly Ravencoin will appeal to businesses over existing solutions. I don’t see the draw for PoW or fair mining as something businesses care about but the dividends part is interesting.

For proof, here’s my conversation with him on Telegram - https://photos.app.goo.gl/i8SjZs3HeIiJok2L2


#19

The securities market is huge, my biggest concern with any of these platforms is time to market. They make the process easier but how long will it really take for securities to actually get tokenized? That I don’t know and that’s why some like Polychain Capital or 1confirmation choose to focus on more technical solutions - stablecoins, interoperability, dex protocols etc. My bet is that it’ll only take a few high profile companies to really spread awareness about Polymath which will drive demand. If anyone can pull it off, it’s probably them. They have the right connections and partnerships. (as you can see with tZero)

Note - this isn’t investment advice :slight_smile:


#20

Thanks for the feedback I will take a look at your article, I agree with you, it may take a while for assets to get tokenised, my best guess is that everything will start to be implemented when the next stock market crash/financial crisis happens.

With the open and fair nature of raven, maybe that will be the token to appeal to the ordinary investors, make it decentralised with plenty of miners if it was all closed like tzero, only open to accredited investors a lot of people may be put off. As proof of work goes I think a lot of the people involved are cypherpunks and I think some of them are still skeptical about PoS.

Like you said there is little info at the monoment so I see these projects as long term investments, and you are right with these king of people and connections they could pull it off a lot easier than little known developers who do t have any connections starting from scratch.