I would like to get some thoughts on the Cryptocurrency DENT. Their IPO is July 12th and it is a cool concept and idea but will it "take off" and build a solid community and consumer base? (As GaryVee says, "Ideas are Sh*t")
What is DENT?
In Short, DENT is" the world-wide currency for mobile data exchange."
It will allow consumers to purchase in DENT token mobile data when they are out of the country to avoid those huge roaming. This could be huge for individuals who travel in both the business and pleasure aspects of live. The calculated from the crowdsale price, 1 DENT Token is valued to an equivalent of approximately 1 MB of mobile traffic.
A simple use case of how DENT exchange will work internationally (provided in DENT Whitepaper pg. 10):
"Mike is a customer of a US carrier, he owns 2,000 DENT tokens. As he lands in Australia, he
accesses the DENT marketplace at the airport though Wi-Fi and buys the mobile data he needs.
This data could, for example, have been offered by Jane, who is a customer of an Australian
carrier. Mike needs no extra agreements with any carrier, no SIM card changes, he just starts to
use his phone on the Australian network. Jane is happy to earn DENTs and will spend them on
her next trip to Europe during her summer holidays. Mike’s US carrier earns transaction fees,
and Jane’s Australian carrier has increased his utilization against his respective cost share."
"...the DENT community represents a collective buying power of $460 USD per user, reaching quickly billions of USD at stake for a telco" (DENT Whitepaper pg. 9)
The DENT Token Sale details (DENT Whitepaper pg.13)
• Estimated token value in ETH offered in this token sale: 152,000 ETH, (subject to variations thru the crowdsale)
• 100 Billion (100,000,000,000) total DENT Tokens created, of which 70% are sold in thetoken sale (minimum of 35% will be reserved to purchasers with smaller budgets)
• Exchange Rate: 1ETH = 400,000 DENT*
• Token Type: Apps token to purchase and sell mobile data packages
• 30% remains at DENT Wireless for user incentives and salaries
o The company will pledge 1 Billion DENT for advancing the United Nations SDG program to provide mobile data to developing countries.
• Ethereum ERC20 tokens
• ETH accepted for the purchase of DENT Tokens
• No tokens will ever be added to the supply.
To view the White Paper: https://drive.google.com/file/d/0BxFqoCUOdNTgWk5vSm9UQVotblk/view
I am really interested to hear what everyone things about this ICO and opportunity. Will they execute and will the market take to the idea? Please leave a comment with thoughts and opinions, it not only helps me but others in steemit community!
I plan on giving the ICO a try.
I look at it this way, everyone on earth that has a phone or laptop uses some type of internet package.
For example I have a 10GB package on my phone and share between 3 phones. We hardly use 3-4 GB of the 10GB (because we use WiFi as much as possible) and the remainder rolls over only for one month and drops off.
I would love to sell the extra GB that we don't use for tokens/cash.
It will make the phone companies compete with lower prices and better packages.
I sure as heck don't have the 20 ETH to invest, but I'm definitely contributing after the pre-sale. I think the company is worth giving a shot considering how many people I've heard complain about ridiculously high rates or law data caps when traveling. They aim to solve a big problem that could revolutionize how data is used globally. Not to mention their pledge to the SDG program. I'd be happy to get on board with any innovative organization that has a good cause in mind. It's like a mobile data version of Airbnb. Whatever your not using you can rent to someone who needs it rather than letting it go to waste. How great would that be!
They estimate...
Exchange Rate: 1ETH = 400,000 DENT
... and 1,000 DENT should be 1GB of DATA, so with the current value of the ETH, around 300$, it does 0.75$ for 1GB.
Am I wrong ?
The main issue is...
It is a big investment, around 6000$ minimum!
Source : https://www.dentcoin.com/presale/
Right now ETH is around $340 so if I am doing the math correctly, it should be around $.85!
Definitely an appealing option as long as the marketing team is strong and pushes this out hard, people will eat it up!
I don't think the price will stay so cheap for the data. It probably worth to invest...
But around 6000$? That's too much...
Interesting concept but not sure how they will implement.
Good luck.👍
I think you should check out this research report on Dent
https://picoloresearch.com/13/dent-dent