Slock.it For Investors #9 – Q&A About Investing In The DAO Hub Presale Tokens

Tai Zen: Yesterday, they just release the DAO pre-sale or a DAO ICO. You don’t have to say how much money you put into it or anything like that, but my question to you is whether this ICO for Slock.It or for the DAO?

Leon Fu: The ICO is for the DAO, but Slock. It is going to be a contractor too. Do you remember when we talked about Factom?

Leon Fu: There are the Factom foundation and the for-profit Factom inc. When we bought the Factoids, we aren’t buying Factom Inc. Factom ink is a for-profit private company that works here in Austin Texas.

Back to this, I think Slock. It is based in Germany somewhere.

Tai Zen: They’re based in Europe in Germany.

Leon Fu: Yeah they’re based in Germany and they are also a private for-profit company, right?

They’re going to be developing the smart locks. Then, we have the DAO which is what we’re going to invest in.

Tai Zen: For the listeners, DAO is Decentralized Autonomous Organization which is pretty much like a corporation or a company or business on the Ethereum blockchain.

Leon Fu: You can go on daohub.org and that is going to be the organization that we’re investing in. One the page, there’s a little graph if you want to see how it’s going to work.

The DAO is going to hire contractors. The contractors are going to produce the products that the DAO uses and charges for. Does that make sense?

Tai Zen: Basically, the DAO is the organization, company or corporation and they are going to hire different contractors. I think they call it service providers.

Leon Fu: Service providers are what they call them, but basically those are organizations that are going to be working for the DAO, right?

Tai Zen: Basically, Factum can hire you or me, but they’re going to hire a company called Slock.It.

Leon Fu: They’re going to hire Slock.It as their first service provider. For example, I work for Dell and Dell hires contractors. Besides Dell employees, we also hire contractors. I’ve been a contractor for a company before. I built apps for the company, then they sell those apps to the public or whatever they call it. To sum up, we’re not investing in Slock.It. We’re investing in the DAO that’s organized by people from the Slock. It team.

Tai Zen: Now the DAO has hired Slock. It, but in the future, they can hire someone else for the campaign, can’t they?

Leon Fu: Of course, we hope they will, right? If this is successful, there will be other service providers beside Slock. It, right?

Tai Zen: When you invest in the DAO because they’re having the pre-sale or the ICO right now, you are basically investing into a portion of the company or the organization?

Leon Fu: A portion of the DAO. You’re getting tokens that’ll give you the right to vote on proposals and you also receive dividends when customers of the DAO use the products that the contractors made or the service providers made.

Tai Zen: So Slock. It is not going to release a coin.

Leon Fu: No, they are a private company.

Tai Zen: The DAO can be anybody, however, in this particular case, which is the first time that this has ever happened, the Slock. It team members are also the same people that created the DAO. That’s where the confusion comes in.

Leon Fu: The reason that Slock. It crowds sale has been delayed as they really wanted to try to separate Slock. It from the DAO. Slock. It wanted to be a separate legal entity and the DAO want it to be a service provider for this organization, but they open source all the code to do this. Therefore, you and I could just copy and paste the code and you start our own DAO.

We could because we could take the code and then just hack it up a little bit and launch a different DAO. Let’s say that on this DAO, we want to build our own little project. Then, we can try to raise money too.

Tai Zen: This DAO’s sole purpose is just for the smart lock project that is created by Slock.It.

Leon Fu: That’s the intention right now because the guys that set up this are the Slock.It guys.

The DAO has a month-long, 26 days left, so once it’s over, those are going to be the shareholders or the token-holders of this DAO. Then, they will hire Slock. It team to produce smart lock for the DAO. After that, the DAO will own these smart locks and sell these smart locks to customers.

Tai Zen: This is a part that’s slightly confusing. If the same team members are creating the hardware and the software for Slock. It – the smart locks, why don’t they just create it from Slock. It? Why do they create the DAO for? There just seems to be more confusion to the public.

Leon Fu: Well, in the future, the idea is this DAO will be a corporation on its own that lives on the blockchain.

The purpose of this idea to create a company that exists solely on the blockchain. There’s no CEO or board of director. It’s made up of a bunch of smart contracts with these token holders. It’s similar to a democracy, but not so much because the number of tokens you own is the number of votes you have. Therefore, whether the shareholders or token holders are, they are the ones making the decisions of what the DAO does, not Slock.It.

Tai Zen: Basically, the team that created Slock. It also created the DAO. Let’s say me, you, all the other people in the public all invest into the DAO, we are now part owners of the DAO. In the future, we can actually organize and remove Slock. It as a service provider if there is a new service provider that can do a better job.

There is another question for you.

Several people have asked me how much they should invest in the DAO pre-sale? How many DAO pre-tokens?

I have its snap here in front of me. They have already raised 1.05 million Ethers and that is the equivalent of 9.1 million USD.

Leon Fu: That’s number is just for one day, the day of going live.

Tai Zen: When you text me to let me know that they had started the DAO pre-sale, by the time I had a chance to look at it yesterday, it was already at 6 million USD, and then this morning when I woke up, it’s already at 9.1 million USD

Leon Fu: If we want to play Guess the Number, I believe, by the time the end of May when the sale ends, they will raise over 100 million USD. That’s my projection. I basing on the fact that Lisk raised 5 million USD and Waves is already 2,5 – 3 million USD. In the case of the Dao, they got 9 million USD on the first day, right?

Tai Zen: In the first 24 hours, basically.

Leon Fu: In 24 hours as we’re speaking, right? Hence, I’m projecting that they raised over 100 million USD.

Tai Zen: Okay, I’m a little bit more conservative, so let’s do this.

Leon Fu: Maybe 50 million USD if you are more conservative.

Tai Zen: That’s what I was going to say.

As we knew, Ethereum raised 18 million USD back in 2014; Augur raised 5 million USD; and so did the Lisk. Therefore, I’d like to compare it to other projects on the Ethereum blockchain.

You can look at Augur. They raised over 5 million. If they did that with a very little fanfare and conference promotion or anything like that, they could do what the Ethereum team did. As we knew, Vitalik and the team are running around the country and all over the world to promote the Ethereum and stuff. As a result, they raised 18 million.

Now, Steven Tual and the Johns brothers have been going around at different conferences to promote the DAO, Slock. It and everything. I believe that it’s going to be around 50 million USD that they’re going to raise.

Here’s the other thing too. If you notice back, during the time when they were raising money for Ethereum, most people were investing like 0.5 Bitcoin, 1 Bitcoin, 2 Bitcoins, 5 Bitcoins, 10 Bitcoins. I don’t know what is the maximum number, but it is kind of the general amount public was investing to see this Vitalik guy was for real and if it works or not.

In Lisk case, you can see that people were investing 2, 3, 5, or 10 Bitcoins. The money that those same people made from investing in Ethereum made money big time, so they’re taking a little more risk, since it’s not their money. It’s the market money. Basically, it is the way you and I always preach about using the market money once you make a profit from your personal money.

Due to that reason, it is more than likely the people, who made money from the Ethereum pre-sale 20 months ago, will go ahead and invest a larger portion into the DAO.

Leon Fu: Oh yeah. I am not putting any new money into the DAO. I’m taking the Ethers that I already had and put it in.

Tai Zen: I’m doing the same thing and matter of fact me, you and all our friends are doing the same thing. That’s why I say that people are going to invest just a little bit more.

When our listeners asked how much you are putting into this ICO, I answered that we didn’t want to mislead anyone because each person had a different tolerance for risk. Obviously, you and I have more experience in taking a risk in the stock market, in the futures market, etc., long before we got into cryptocurrencies, so we have an appetite for risk already.

Therefore, if you are listening to this, that’s the reason why Leon and I don’t disclose how much we are investing, but we will say that we are investing a little bit more into the DAO than we did with Waves or with Lisk.

Leon Fu: I’ll say significantly more.

Tai Zen: I will agree with you on that because these are the same guys that worked on the Ethereum project when it first came out. You said that one of the Johns brothers wrote the client for Ethereum, then Stephen Tual does the same thing.

Okay, we talked enough about the good stuff of the DAO and Slock.It. I do want to share something with you and the audience. Some of the things that I was concerned about when you text me yesterday and said that the DAO presale tokens were made available in the public.

You know that I tweeted out to Steven Tual and the Slock. It team to keep asking them when the release date for the IPO is. However, they never responded. They said that they were working as hard as they could to get the dates and everything. I found it’s weird that they just release it without making an announcement or anything.

Leon Fu: I’ve been following them. They weren’t going to give us any warnings.

Tai Zen: Why not?

Leon Fu: I don’t know. They didn’t do that with the Ethers. It is just like what they did with Ethers when they went live. There wasn’t any warning. It was delayed actually. Then, they said: “No, we’re canceling it because we’re not ready.” After that, they never gave a date and in July, it was like boom. This is how I remembered it. Maybe we did, but I forgot because it’s been almost two years now.

However, there was a lot of indication that it was getting close. I just didn’t know it was going to be open yesterday because they had redone the website. We knew it was any day now, but any day could have meant now, yesterday or a few months from now.

You’re right. I had thought that, based on all the delays that we were seeing, it wasn’t going to be ready in the summer, but they decided to watch it now. I don’t see a problem with that because they’re giving us two weeks to get our money in.

Tai Zen: Yes, but I just want to share with our listeners because I don’t want people to think that you and I are trying to pump and dump any coin or anything. We’re just investor.

We don’t even know any of these people that we invest into, except I had a little bit of interaction with Max from the Lisk and Vitalik that you and I interviewed and met when he first started announcing about their two years ago.

Everybody can see in the video that we’re not best friends or something like that. You and I have been accused online that we are his shields or we’re pumping Ethereum for him.

I think it’s ridiculous because you can watch the videos and nobody said anything about me and you. No one accused of anything when we first came out with the video interviews back in 2014 with James D’Angelo from the world Bitcoin network.

Now, all of a sudden, we’re talking about it again and people are accusing us, but it doesn’t matter. What matters is I just don’t want the public to think that you and I are pumping the DAO for anyone. We’re just telling people about the research that we’ve done and what we’re investing in.

Here’s the thing that I just want to make it clear that I do not like. I do not like the idea that they did not post a public announcement of when the DAO pre-sale was made available.

If you didn’t tell me yesterday that it was being released, I may not have found out until several days later. There are people that may want to invest in it and not have time to prepare to gather up some money to invest in it.

Leon Fu: They could have been announced at least a few days. On the other hand, it does go for a month.

Tai Zen: They just need to have courtesy for all the investors because the ICOs that we invest in are already risky as it is. Besides, we don’t know these people. The least he could do is inform the public of what they’re doing because this may be a conspiracy theory.

I’m a trader. I’m always looking at the chart and what’s going on in the markets. I know you’re the fundamental guy and the technical guy, but this is what I see.

If you look at the price of Ethereum, it was around 15, 16 millibit. In case, someone is listening and not familiar with that 16 millibit is .016. Then, it jumped as high as almost 21 millibit, right?

I don’t know what percentage increase is…

Leon Fu: It is a 22% move, almost 23% move in a day.

Tai Zen: That’s over 20% move in just a very short period of time. We are not sure if they did that on purpose or not. If people knew about it ahead of time, they could have bought the Ethereum at 16 millibit or 17 millibit. Now, everyone is paying 20% higher to buy the Ethereum. That’s why the price of Bitcoin if you look at the price of Bitcoin, it dropped significantly. It dropped from 456 down to 446.

Leon Fu: Well, I don’t think that has anything to do with Ethereum. I think Bitcoin hits a resistance for 470. It was a major resistance level. I think you just got knocked down.

Tai Zen: I know, but here’s the thing. I’m going to share with the audience what I see, what I believe. You share your personal opinion and I share my personal opinion.

My belief is Steven and the people working for the DAO knew when they were going to release it internally, but I think there is a reason making them to suddenly release it out of nowhere without any public announcement.

The price of Bitcoin passed 470 in a very short period of time. If you look on the charts, the price of Bitcoin ran up from, in just the last couple of weeks, the low 400s all the way up to 470 in no time at all. Therefore, that’s going to prevent people from buying a lot of Ethereum to invest into the DAO project.

Leon Fu: The Ethers were also dropping too. They’ve dropped all the way down to 16 millibit.

Tai Zen: Here’s the thing. Fewer people are likely to sell out. What’s going to happen as the Ethers are falling, I believe that the guys on the inside knew that they were going to get this. They bought the Ethereum at a lower price.

Leon Fu: Sure.

Tai Zen: Why wouldn’t they do it? If you were the one that created the DAO and you knew when you will release, plus I’m your best friend, you would tell me: “Hey Tai, the Ethers are at 16 millibit, but you should pick up as much as you can because we’re going to release the DAO presale tokens the next day.”

Leon Fu: I don’t doubt that happened and this isn’t a stock. The insider trading laws don’t apply here. This is not an SEC-regulated security.

Tai Zen: I agree. Therefore, that’s the risk. When you’re looking to make 5, 10, 20 thousand percent profit or percent return on your investment, that is the risk that you take.

Leon Fu: On the other hand, we knew this was coming. We just didn’t know when. This is not new if you’re following Ethereum or Bitcoin.

It’s not like this came out of nowhere. This was in the deck. If you were playing black or poker, we knew this card was in the deck somewhere and it was going to come out. We just didn’t know where in the deck it is.

Therefore, you could have bought at 16 millibit. You knew Slock. It was going to do the ICO. You just didn’t know if it was going to be today or if it wasn’t going to be three months from now or after memorial day. I mean I was thinking it was going to happen after in the summertime.

Tai Zen: Keep in mind it’s a German-based company. It’s a European company. I don’t think they care about the American memorial day. I don’t think they give a damn about you know what American holidays are.

Leon Fu: I just thought it was just like they had delayed the Ethers crowd sale until July. I was looking more for something like that. Obviously, if I knew that they were going to release like now, I would have been scooping up Ethers at 16 millibit.

Tai Zen: Yes. That’s what I’m saying. People like us could have bought extra Ethers to invest in it.

Leon Fu: However, if everyone had known that announcement, we wouldn’t have traded it at 16 millibit. We wouldn’t have the low, to begin with, because everyone would have been doing the same thing.

Tai Zen: because as long as that always lingers in the back of my mind that these guys are hooking up their homeboys first, turn your homeboys to get them… And another thing too is I believe that they might have been watching some of my analysis of Ethereum. They probably saw that we’re at all-time lows…

Leon Fu: Or not at all time low.

Tai Zen: It’s a daily trend line. Hence, they’re picking it up. Somebody picked up a bunch of Ethers to get into the DAO. I just want to share with you my assessment of what I see on the charts of how the prices shoot up out of nowhere.

Leon Fu: Well, we know why to shoot up.

Tai Zen: People were cashing out their Bitcoins. They’re taking their Bitcoins and selling it out, then taking the Bitcoins to Ethers. That’s why I believe that the price of Bitcoin went down 10 USD.

Leon Fu: Wait, I don’t think that because this announcement happened yesterday and Bitcoin didn’t really move. I’m looking at the chart right now. Yesterday, it was within 1 percent.

Tai Zen: Yeah. What I’m saying is that the guys, their friends, that knew ahead of time that they were going to do the pre-sale, they cash out their Bitcoins.

Leon Fu: But that wouldn’t affect the price of Bitcoin, Tai. That would affect the rate between Ethers and Bitcoin.

Tai Zen: Well, let’s put it this way. 9 million USD just went into Ethereum.

Leon Fu: But where does that 9 million USD come from? It didn’t come from US dollars. It came from people who are holding Ethers or Bitcoin because the price of Bitcoin didn’t move since yesterday. If you looked at from yesterday, Bitcoin didn’t go anywhere. The coin in USD stayed about where it is.

Do you know what it was, Tai? It was all the Bitcoin holders who either missed the Ethereum trend in or cashed out of Ethers back to Bitcoin and rushed it back into Ethers. Do you understand what I’m saying?

The money going into Slock. It is coming from the community that we already have. It’s not new money coming in from USD. If they were, we would see the price of Bitcoin change because there’s not really any way to get Ethers without going through a Bitcoin.

Tai Zen: Actually, somebody left the comment on our channel that…

Leon Fu: There is a way but the volume is so small. If you’re looking at the Bitcoin – Ether market trades, it’s around 70 million USD a day and 90% of that is Bitcoin to Ethers. Ethers to USD is around 5% of the volume and probably the other 5% is Ethers to EUR or something like that. In short, it is around 90% of the volume in resources Bitcoin to Ethers, not Ethers to USD or Ethers to EUR.

Tai Zen: I just wanted to share my thoughts on that.

Now the question that everybody keeps asking us and that you just asked me too when you called me is how much money someone should put into the DAO pre-sale.

Leon Fu: Yeah, but that’s a very personal decision, right?

Tai Zen: That’s a personal decision.

This is what I told my friends and coworkers. I’m just going to share my strategy with you.

We both know that no one on their own is going to invest in a cryptocurrency, no matter how much we shout at the top of our lungs that people should be investing in this. It could be life-changing money for them. No one is actually going to do it.

Remember that it was me who introduced you to Bitcoin and even then I didn’t buy it until you help me get my first Bitcoins. Remember that?

I’m saying because when you took the risk to buy my first Bitcoins for me, you knew that it was going to be a financially life-changing investment for me. You took that risk and said:” Let me get you your first Bitcoin. Otherwise, if you keep digging around, you’re never going to get it.” Once you help me get it, that’s when I was able to move the Bitcoins back and force and be able to see how it works.

Therefore, no matter how much we preach that this is life-changing, they’re not going to do it because it’s so new to them. Then by the time they actually do the research to understand what it is, it’s already over.

So what I did was I told all my friends that if they are willing to invest into any of these ICOs, I would cover their loss up to 100 USD. The reason why I said only 100 USD is it’s a small amount and it’s negligible. The second thing is it’s just enough to when if it turns 10x, they make 1.000 USD. Then, they can use 1000 USD and invest into the next thing. For example. They can take another 100 USD or 200 USD to invest in the next ICO.

In addition, we already agreed that there’s going to be more opportunities coming up, but this is not the end of it.

Leon Fu: This is not going to be over, especially if Slock. It is successful.

As we expect, they’re going to raise 50 to 100 million USD. If that turns into billions, which is likely going to happen…Therefore, in my opinion, we are going to see a boom that we have never seen before.

Tai Zen: Maybe beyond on the iPhone boom that just ended.

Leon Fu: I would say it’s going to be something larger than the iPhone or smartphone boom that we just went through over the last 10 years or in about 10 years.

Tai Zen: By the way, we’re going to make a separate video where we formally announce the end of the iPhone boom.

Leon Fu: No, it’s not the end of a boom. It is not a crash.

Tai Zen: No, no. It’s just the end of that era.

Leon Fu: I don’t even want to say it’s the end of an era. I think that it’s kind of like the PC. I think it’s more analogous to the time when the PC’s era ended, which never really ended. Basically, we still use PCs, right?

However, it’s no longer the same as the first opportunity once was. It’s just more of a steady business like bread and butter There’s a certain period of time when the industry is born. Among them, you can make a lot of money in a very short period of time. Then, afterwards, it becomes bread and butter. It becomes just another business that you get a job, get that paycheck, and then you look for new opportunities with that.

Tai Zen: Okay, we don’t get too far off track and mix up the iPhone with the DAO here. What are your thoughts on the strategy that I and Eric use to help our friends and coworkers to join the crypto world?

Leon Fu: I’m not quite sure. I think it’s nice. You are doing right. I think its also part of investing is learning how to handle the risk. I’m not sure that by taking away that risk, whether it really teaches them or not. Do you know what I’m saying?

What I’ve been doing to my co-workers the other day is this. I said: “I’ll sell you 20 USD of Bitcoin. Give me 20 USD and I’ll give you some Bitcoins worth that amount.”

The reason is even if you make 20 or 30 or 40 times of 100 USD’s worth of Bitcoins, that’s not a life-changing amount. You only need to give them enough that incentivizes them to do the research themselves.

I don’t want to take the risk away because part of being a successful investor is you are willing to take on that risk. We have to be willing to put our money on the line and if somebody else is guaranteeing you that money, you’re not learning anything.

Tai Zen: Okay, it’s like you don’t deserve to make 10,000% or 20,000% profit if you’re not willing to take the time to learn how about the investment.

Leon Fu: They’re not willing to take a risk. Many of my friends didn’t learn about Ethereum or Bitcoins. They just simply said: “well, Leon knows; you know Leon; I know Leon…”

Tai Zen: Yeah. They say such things like “We’re friends with the Oracle of Austin. We don’t need to learn anything. Wherever Leon invests, that’s where we’re going to invest. He’s the one driving the Maserati and the Tesla, so we’ll just follow along.”

Leon Fu: Exactly.

As an investor, you know how much money you make and lose as when it comes to investing in. It’s the only dependent on how much money you risk, not depending on how much you know. As far as investments go, you made the same amount of money whether you knew about Ethereum or not.

Some of my friends are just going to throw a few thousand USD or Bitcoins into it just because Leon did. Then, they walked out with the same amount of money.

That’s why I think that you’re taking away that risk.

Tai Zen: I’m doing them a disservice.

Leon Fu: I feel that way because they have to learn how to take a risk. The best way to take a risk is by putting a very small amount of money like USD.

For example, I’ll give you some Bitcoins and then you know how much that money is valuable. Some of them may go and buy a Starbucks gift card and get some coffee with that money. Some others like my co-workers figured out how to go to ShapeShift and get 2.5 Ethers with it, then he can make money from that and invest in Slock.It.

Tai Zen: The friends that we’re doing with are actually traders and investors already. We wouldn’t do it for someone has never trader a day in their life. These people are actively trading investing in the traditional stocks, futures commodities, Forex markets already. However, they’re just completely new because they hear so many bad things about crypto-currencies.

Leon Fu: I think the way to do that is to explain it. Since I have many colleagues or technologists, I can explain it to them in technical terms. I can talk about hashing, public-private key encryption, BitTorrent and peer-to-peer networking. Therefore, I can use concepts that they are already familiar with to explain it to them on how we’re putting these concepts together to make this thing work.

You have to take a different route with people who don’t have a technology background. Sometimes, I think the easiest way even for technologists was just to demo it. You can say “hey, do you have an iPhone or Android to download this wallet? I’ll send you’re 20 USD of Bitcoins right now. Give 20 USD to me and I’ll give you some Bitcoins.”

That’s how you can demonstrate this by demoing the technology.

Tai Zen: Let’s talk about this. What if somebody is new to invest in cryptos? I think that investing 100 USD is just enough to when it turns 10 times, they get a 1000% or 5000% profit that is worthwhile to them. By doing that, they can see how much money they make form the original 100 USD.

Leon Fu: I have a few friends that did exactly that. All the people, who invested something into Ethereum at the time we did July, are sitting on tens of thousands of dollars. If they made tens of thousands of dollars, they’re now researching this stuff as much as we are. What else are they going to do, they’ve never made that kind of money in their lives, right?

Tai Zen: For sure. I mean that helps you answer the question about how much your friend should invest.

Leon Fu: As I mentioned, it’s all about risk. Everyone is in a different financial position, so it affects how much risk they can take. It’s about managing that risk. You have to expect that this might blow up and it might all fell. I personally don’t believe that because I’m looking at all the people involved in this and they’ve succeeded. You know, in life, winners tend to keep winning, right?

All these guys are coming from the Ethereum team. If you go to the DAO website, you can click on curators and all those guys are basically involved with the Ethereum foundation in one way or another.

Tai Zen: I think the advantage that these guys such Steven Tual and Johns brothers have is having Vitalik on their team.

Leon Fu: They has the support of him.

Tai Zen: They have the support of him. They can easily access him and use his brainpower to help them if they get stuck with something.

Leon Fu: Not only Vitalik but the entire Ethereum foundation. I mean it’s a lot more than just Vitalik.

Tai Zen: I’m sure that Vitalik is putting a huge investment into this too. I’m sure that when he cashed out his 25% of his Ether holdings, he’s putting a lot of it into this DAO project.

Leon Fu: I bet they all are.

Tai Zen: Why wouldn’t they? They just turned Ethereum into a billion-dollar project. Why wouldn’t they do it with this one? They’re set for life from the Ethereum project. Therefore, why don’t they do this and then become the next Bill Gates or Michael Burke? Then along the way, maybe we can hang out.

Leon Fu: That’s right.

Tai Zen: I already tweeted to Vitalik that whenever he comes down to Texas, let us know.

Leon Fu: Yeah. Sure.

Tai Zen: We’ll take them for a ride in the Ethereum Tesla mobile or the Ethereum Sedan that you got. By the way, does Andrea have any other questions about that?

Leon Fu: No. I think this is the investment of the year that we’ve been waiting for. I’m holding some back because I think that there’ll be new projects come in the way, especially after we see them raise 50 to 100 million USD. I think that’s what they’re going to do.

Tai Zen: I am projecting that they raised over 50 million. Here’s what I also do that I might consider investing in some of it now. The reason is they’re incentivizing the public to put their money to invest their money, so they’re giving out 100 DAO tokens for every 1 Ether that you send to them. I think it’s going to cut down a little bit. I don’t know.

Leon Fu: The ratio is right now. It’s going to go down to in 2 weeks. It’s not going down in two weeks yet. It stays the same for two weeks and starts going down to reach up until the last four days. It’s going to be 1.5 Ethers for 100 DAO tokens, which is about

Tai Zen: What you’re saying is you can buy 100 DAO tokens with 1 Ether at the moment. After this two-week bonus period is over, you’re only going to get 50 DAO tokens for every 1 ether that you send up.

Leon Fu: Or by the time, it’s going to cost you 1.5 Ethers to get 100.

Tai Zen: I don’t know why they did because that number is confusing. I’d rather they just say hey you only get 50 DAO tokens for 1 Ether or something like that. I hope I did the math correctly.

Anyway, it’s a smaller amount regardless of how you look at it. I have actually not bought any DAO tokens as the time of this call. I’m going to do it later on after I get off this call. I’ll probably post this call recording before I even make the purchase.

Here’s what I do. I’m going to make the purchase, then wait to check whether it continues to go up or not. Let’s just say even if they only receive half the funding, which is around 6 million USD, every day for the next 10 days.

Leon Fu: They’re not going to get $6 million a day. I mean it’s the first day they’re going to get a bunch and the last few days are going to get a bunch.

Tai Zen: Let’s just say the funding gets cut in half. Let’s just say that their 6 million USD gets cut to 3 USD million tomorrow, then to 1.5 USD million, and so, it’s still a lot. It’s still going to be, in my opinion, way more than what the Ethereum presale got.

Leon Fu: Definitely. The Ethereum presale only raised 18 million USD and they did half of that in the first 24 hours.

Tai Zen: Then before the 12-day end, where you can still get the early bird bonus, I might add some more to my investment depending upon how much they raise. I think that you probably have the same idea.

Leon Fu: Yeah, I’m also watching as Ethers have pulled back to about 8.5 from 9. Therefore, if everyone panics to Ethers on this news, that’s 23% spike. However, I think that’s going to get worked off and the price of ethers will come down over the next week or two. It probably comes back towards 8 or even under 8.

Tai Zen: You think so?

Leon Fu: I think it’ll pull back. It’s already pulling back closer to 8.

Tai Zen: What you’re saying is kind of similar to my last price prediction video. I said that it would be going up, so I put a stop loss. Then, I told everyone that if it broke below 16.5 millibit, they should get out, which it is. Hence, I hope everyone that was listening actually got out and didn’t hold on to it. After that, I tell everyone if it gets back up to the original entry, they can always get back in.

Leon Fu: They’re going to get back in at 18, 19 or 20. It’s not going to get back at 16.5.

Tai Zen: There’s nothing wrong with that. At least you didn’t lose a lot. There’s nothing wrong with having a few small losses until you hit the big one. It’s better to get out at 16.5 like I had said in the video than to take a beating while it’s going down. Right now, it’s going back up and you can always get back in.

Let’s wrap this up. The Oracle of Austin is going to say that they’re going to raise 50 million USD. You are going to stick with that call, right?

Leon Fu: In the back of my mind, I think 50 million USD is the minimum. I really think that’s like the bottom end because they’re already at 10 or 11 or something like that. I’m going to say 50 million USD is the minimum. I would not be surprised if they get $100 million.

Tai Zen: Okay, I’m going to make my call here and this is the Oracle of Dallas because you have been anointed the Warren Buffett of crypto by James D’Angelo. Therefore, I’m allowed to refer to myself as the Oracle of Dallas.

I’m going to make the call that they’re going to raise over 50 million USD, but I’m not going to make the call that they’re going to raise 100 million USD. I don’t see that in my sight at all. It’s just my opinion. Accordingly, we agree on the minimum, but we disagree on the maximum.

Leon Fu: Let’s see how fast they can get to 50 million USD.

Tai Zen: Here’s the thing. As a crypto investor, you have to know that crypto changes quickly, so you have to adapt quickly too.

If they raise $50 million before the early bird period is over, we’ll come back to reevaluate and update our call.

There’s nothing wrong with making adjustments as you go and new information comes up. However, based on the current information, we can both agree that they’re going to raise a minimum of 50 million USD.

If you have any questions, comments or suggestions for a future topic that you want the Oracle of Austin and myself to discuss, leave it in the comments below. We’ll see you in the next podcast and we hope you make a bucket load of money from listening to us.

Leon Fu: Alright man, I’ll catch you later.

Tai Zen: Bye, man. Take care, bro.

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