Globcoin Update: New ICO Dates

Not sure if I have said this before, but I find it incredible when there is communication from the team behind an ICO. I don't know if the teams forget, but communication is key, and as a possible investor it is frustrating to not find updates from the team, or important questions not being answered when they have so many channels available (Telegram, Medium, Facebook, etc.)

As I told you in my last blog post, Globcoin: A Currency Solution for Travelers?, I was unsure if I would be investing in Globcoin for several reasons (hard cap being to high, token price being insanely expensive, cryptocurrency prices rising/dipping more than usual, etc.). From what I was able to see, their previous ICO was not doing very well (it was a short term), and apparently many current and potential investors voiced their concerns. Well, the team addressed these concerns and decided to close the current ICO in order to re-start it. Now, don’t go around yelling scam because as the team explained “The only way to revise the sale period with an ERC20 token, is to close the current sale and open a new sale.”

This is the info they posted on their Bitcointalk Ann Thread forum (https://bitcointalk.org/index.php?topic=2413997.0)

Their new ICO is set to start in a week, and their new token sale period is the following:

• GCP Pre-sale: February 12th, 2018 – March 4th, 2018
• GCP Sale: March 5th, 2018 – March 27th, 2018

There have been some changes in the new token sale compared to the old one. Here is the current token sale info, and below you can find a chart with a side-by-side comparison:

TOKEN SALE	OLD	NEW
Token Name:	GCP	GCP
GCP Created per 1 ETH:	100	10,000
Minimum contribution level in ETH:	0.1	0.1
Soft Cap:	5,000 ETH	Raised during private sale
Hard Cap:	150,000 ETH	10,000
Max. # tokens generated to ICO participants:	15’850,000 (37.8%)	170 Million (40%)
Max. # tokens generated to pre-sale participants:	5’100,000 (12.2%)	No info for new pre-sale
Max. # tokens generated for future business development:	12’570,000 (30%)	170 Million (40%)
Max. # tokens generated to team, advisors & early backers:	8’380,000 (20%)	85 Million (20%)
Max. # of GCP generated:	41’900,000 (100%)	425 Million (100%)

To be honest, from the info I was able to track online, I am a bit confused if soft cap was met or not. On one hand they mention that it was “Raised during private sale”, but in a different reply they fell short of the USD 5 million soft cap, and that “all invested ETH is returned to their rightful owners” (however, this would actually make sense with the point regarding re-sending ETH).

Anyway, the new hard cap is significantly lower than the previous one, so it might be a challenge to get in on the new token sale depending on how much the team works on promoting the project. As for if I will invest or not, I do love the background and experience the team brings to the table, and like I mentioned in my previous Globcoin post, I am a fan of their multi-currency card, but at this point for me it will depend on how ETH prices continue to rise / drop, since the minimum amount is 0.1 ETH (it would have been cool if they had a few days at the end of the ICO with no minimum … sure, there is a chance ICO will close early, but it gives you the option to invest lower if you make it).
In their announcement from January 28th, 2018 they mention a bonus structure for current participants. I am not sure if these bonus structure applies only to those that participated in the previous ICO, but I found this "Bonus programme" information in their whitepaper:

(Pre-sale bonus looks amazing (70%), but it is a bit confusing since it makes it seem as if those that committed less ETH get a larger bonus. However, they did mention they are working on it, so it might be best to wait until the official announcement. I will be sure to post an update in the comments section).

Their investment process does seem a bit lengthy; so don’t wait until the last day to invest as this might work against you (remember to have an ETH compatible wallet to receive your tokens, and do not send your ETH from a crypto exchange address).

Once again, please remember to take the time to do your own research before investing. I am no financial advisor. I am learning as I go (making mistakes along the way) and what I think is interesting and good, might not work for you. If you want to learn more about Globcoin, visit their official ICO website: https://globcoin.io/ check out the team and read their whitepaper. I would also recommend for you to visit their Medium blog and Globcoin website as you can find even more info there.

Remember that investing on any ICO or cryptocurrency is risky (as is any type of investment), and there is no guarantee of returns, so never (ever) invest more than you can afford to lose.

Happy ICOing!

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Links to some of my previous articles:

• Crypterium: ICO on my watch list
• My Current Electroneum Feelings
• How I was crypto-currency scammed
• My First ICO – Electroneum