Slock.it For Investors #8 – Slock.it Pre-ICO Price Projection

Tai Zen: Let’s say that they raise 2 million as they said in the FAQ. Let’s say they sell a total of 2 million Slocks.

Leon Fu: So 2 million Slocks, it would be about 20,000 Ethers. So 20,000 Ethers multiply by 15 dollars that would be, help me out here, is that 3 million?

Tai Zen: So we said that if they sell 2 million Slocks divided by 100 Slocks per Ethers, that’s 20,000 Ethers. And right now, the price of Ether at the moment is 15, right? So that’s 300,000.  So that will make each Slock worth 15 cents.

Leon Fu: Augur did it in a different way. Augur did their crowd sale, they did it a little bit differently. They fixed the number of reputation tokens, I think it was at 8 million or 11 million, I don’t remember.

They fixed it and then they just accepting money and you would get a proportion of the total number of tokens based on the percentage that you contributed. So they’re doing it a little differently. Mathematically, it’s the same thing.

Still, they’re just fixing the price. Whatever they raise, that’s how many tokens they’re gonna issue.

Tai Zen: So there is one method better than the other?

Leon Fu: No, it’s not. The map still comes out the same. You can fix the total price of tokens and then what varies is the number of tokens you received, or you can fix the number of tokens you receive for each Ether, but you don’t know how many tokens are gonna be sold.

And that’s the model they did with Ethereum. They fixed it at 2,000 to 1, at the time it was 2,000 to 1 Bitcoin, and they were going to issue as many Ethers as they sold, about 2,000 for 1.

So they had raised about 31,000, that was about 2,000 times 31,000 was about 60 million, and they kept some for the foundation, so that’s 75 million.

Tai Zen: Ok, let’s hope this works. Hey, is there a date? They haven’t announced a date on there.

Leon Fu: No, they have not. There’s nothing yet, it’s gonna be sometime in the spring, I think. And this is a long time investing, right? We’re not gonna know anything, like when we had invested in Ethereum, we did not know for a year from when we first participated in a crowd sale when the Ethereum network launched.

That was an entire year and then it sat around for a $1 for another 6 months. I mean this started in December, so it was a year and a half. So this isn’t going to get us rich overnight. It could be a couple of years before you see anything.

Tai Zen: Thanks for the update, and I’ll catch up with you later. Bye.

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