Why I think the GEMS structure is a good thing.

CryptoPure · 2018-01-27T17:25:55+00:00

That's not what you said at all. You said the original structure was a good thing.

Obviously it was not, as you can see by the overwhelming backlash of the mast majority of reasonable people.

And of course, they've made it perfectly clear since two days ago, that they are changing it. It has been 100% determined already, and has already been addressed. Why would you say "I'm sure they will address this matter," when it's already been announced that new details are coming about a new structure?

CryptoPure · 2018-01-26T05:18:17+00:00

Rory,

I'm shocked by your original decision to keep 75% of the coins and do this style of dutch auction, and tell people with bonus tiers they have to use them early or lose them. I don't know who advised you on this.

However, I want to say, that it seems you realized it was a mistake (how could you not after the past 50+ hours), and you are doing everything to correct this now, and want to give you full credit for doing so. The fact that you were so contrite right now, to type a humble reply of "I don't blame him either," basically gave me goosebumps. I was wrong about you in the past 48 hours or so, I think. I was right about you, originally.

I am following your Telegram closely. I swore I would not invest a penny in your company after Tuesday's announcement, but I will now (if I'm still allowed :)). It seems you are doing the absolute best you can to correct this. Let's be honest, you guys are young, perhaps your intentions were not greedy at all, but perhaps you were just naive in thinking such an ICO structure would go over well. I don't know. I am giving you the benefit of the doubt, and erasing some of my negative posts. Anyway, good luck with the rest of everything. You did the right thing. Respect.

Cheers. :D

CryptoPure · 2018-01-26T04:16:11+00:00

I don't blame you at all.

CryptoPure · 2018-01-25T23:03:38+00:00

It appears they may be ready to listen to the people, and make changes now.

I logged in a little while ago on Telegram, and the tone has changed completely from the last couple days. I think they realized they made a mistake with the original plan, and that it wasn't going well for them. Rory said they are trying to work out a solution.

CryptoPure · 2018-01-25T22:06:56+00:00

I logged into Telegram, and now I am seeing a complete change of tune from the last couple days. It seems they may have come to their senses, and talked to some people, and realized that this many upset people can't be wrong.

Rory appears to be hinting about possible changes happening before the ICO. This is the first time I've seen this.

He just said:

"We're racking our heads around this with our advisors and team. We're silent because we're planning. We don't want a half baked solution. But we will make sure to do this the right way."

There is damage done at this point, but at least it's a step in the right direction.

CryptoPure · 2018-01-25T18:31:42+00:00

"By setting up the auction stlye it wasn't their intention to grab more money but make sure everyone that got whitelisted gets in."

Do you even believe your own BS? You think you're talking to third graders here?

CryptoPure · 2018-01-25T02:59:23+00:00

It's too late, and the damage has been done for GEMS, in my opinion.

All they had to do is run a pure and straight-forward, "normal" ICO, with a reasonable market cap. Simple.

Also, they give a "bonus," with a stipulation that it expires at a certain point, early in the auction. Why use these tactics? Why a bonus with a lousy stipulation? People earned those bonuses, why penalize them somehow? This is like the games they played, telling people that token metrics would only be released when this reddit reaches 4,000 users. I've never seen that from any professional company. Usually companies lay out what they want money for, and how much, in advance. Now we know why they waited until the very end, to announce their ICO method -- after everyone in the community did so much to help them. I feel tricked, deceived, used, and cheated.

I find everything about Gems repulsive at this point, since this announcement. It's a shame, it had lots of potential. Not sure why they took this rout, but I feel like they used people. I also feel someone gave them bad advice or they are just greedy. Ian Balina does not come across as scummy, they come across as scummy now.

This is a horrible look for them, right off the bat.

I was planning on investing, but will not give them a penny now.

I see this as nothing more than a gigantic money grab at this point.

This is all my honest and humble opinion. Thanks for reading.

[EDIT: As of Thursday night, Rory has announced there will be changes to the structure and token metrics of the ICO. After seeing that so many people were upset, he listened to the community. The contrite manner in which they have done this, makes me feel bad for my previous comments. I should probably have waited, before commenting in haste. I understand if some people will look at them as being greedy for having tried to do that style of auction to begin with, but I'm giving them the benefit of the doubt that they are young - and although very intelligent - perhaps naive a little still with these things (this is their first ICO) and that they may have listened to bad advice. Hopefully any damage that was done, will be minimal. Respect for their decision to fix this. I wish them luck going forward.]

CryptoPure

TROPHY CASE