Dear investors of Paypie,
Exactly what, in the hell, are you doing?
On Sunday, the ICO for Paypie opened up. I thought this was a pretty interesting company. I still do. Sunday was to be the first day of an eight day or so pre-sale, after which, the "official" sale would open up for another week or two.
I wanted to get in on some of the tokens, and had planned on getting them Sunday afternoon.
Welp, I was too late. All tokens sold out in about six hours. Not days or weeks, but mere hours.
DAMN!
Oh well, I knew the tokens would trade on EtherDelta after they were released, so I figured I'd get some in about 2 weeks time.
But again, Paypie was ahead of schedule. They released the tokens by Tuesday, not even 48 hours after it sold out.
Great for me! I planned on picking some up that afternoon.
The ICO price was set at .0011 Eth, and they were trading at .00119 Eth a couple days later. I snagged some, happy I had gotten them. Not much of a profit for the ICO investor, but I could still see someone making about a 5% profit on a 48 hour investment.
But then, the price dropped more. It went slightly below the ICO price. Sweet. I was hoping this might happen, so, picked up some more.
I checked again today, and the price is now had dropped to about .0010 Eth. I got in on more.
Recently, I checked, and the price was .0009.
So seriously, WHAT THE HELL ARE YOU PEOPLE DOING?
Nothing really changed since the ICO. Paypie should launch next year. These ICOs are basically to raise venture capital. And no sane venture capitalist would dump their shares for a minimal profit or loss in less than a week.
Fine with me. You guys be silly. I'm happy I managed to get the tokens I wanted, even after being shut out of the ICO.