By now, I think many of you have seen advertisement for this ICO (INS World ICO), and it really sounds good/promising. I was also looking into this, trying to decide if I should invest in it or not, but…
- Their Github remains pretty empty;
- The contract address has no Ether, Tokens nor any Transactions;
- Allegedly, 90% of ETH is already raised but I can’t find a single person in the bitcoin forums saying he/she has got his tokens;
- Lots of people are asking why the transfer of ETH/BTC hasn’t gone through;
- After a week, not a single person got the KYC process validated and team responds that it takes 5 days. People are being asked to buy the Tokens and then wait for KYC approval (yes, after they’ve spent their money);
- You can't just send ETH from your account and receive the tokens, they expect you to send ETH to an account set up for you and buy the tokens from that account, inside their platform;
- Original ICO planned to raise $18 M, but it was rescheduled and now they want $47 M… Despite this extra $29 M, the funds allocation remains at $18 M, begging the question, what will these extra $29 M be used for?
- $2.5 per token seems a bit overpriced.
I liked the project, but something doesn’t feel right to me. It starts to seem one of those cases: “When something seems to good to be true, it usually is.”
I think I’ll stay away. But I'd like to hear your opinions. Has anyone invested in this...?