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  • 07-10-2017 2:13pm
    Registered Users Posts: 582 ✭✭✭ JaCrispy

    Been looking at the SALT altcoin for a few months now. I know we have a couple of investors here. In the last week it has more than halved in value ($7.63 on 1st Oct down to $3.50 now). Interesting findings here from a post on Reddit....
    Besides the 35 million tokens sold for .25 to insiders, it looks like they have another 65 million SALT tokens which they hold (check coinmarketcap's circulating supply vs total supply )
    They are selling this supply on their website for $25, while SALT holders can't even get $4 for theirs on the exchanges. To get access to the lending platform, which is the "real" use of these tokens you need to buy from the website at $25 as there is no way to deposit outside SALT currently. This is really a scam way to tokenize these SALT memberships, even if the lending platform launches and does what is promised.
    Sorry for the people who bought a lot of salt at public prices as an investment. If you bought the ICO at $5, $7,50, $10 or more you could probably ask for a refund and they'd have to give it under the laws of the U.S.
    I heard they are opening deposits soon, so you can deposit SALT you bought on exchanges back on the membership page for access to the future lending platform. But when are deposits happening exactly? Right now they are selling $25 SALT to people while supporters are getting at most $4 for their SALT in the market.
    tl:dr sold a 30m tokens to insiders for .25. All salt tokens on market are useless right now. only the $25 salt sold on website works for lending platform.

    A good time to buy or is it a dead duck?


  • Registered Users Posts: 10,651 ✭✭✭✭ machiavellianme

    The above would put me off tbh, changing the goal posts is never cool.