No ICO: Grin complains and collects over 60 thousand euros
Altcoin

No ICO: Grin complains and collects over 60 thousand euros

By Amelia Tomasicchio - 2 Feb 2019

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The leader of the Grin project, developer Ignotus Peverell, today published a post on the official forum of the privacy coin complaining about the crypto industry and the ICO scams that collect a lot of money.

“After just over 2 weeks of Grin being live, I’m disappointed by the way the industry around Grin is shaping up. Of course it’s early, but I’d rather not this be an indication of future direction”.

In the post, Peverell – the name is inspired by one of Harry Potter’s characters – also complains that the project only received 10% of what was needed. In fact, today February 1st, perhaps thanks to this post, Grin has received more than 10 bitcoins and 131 ETHs, as can be seen on Blockchain.com.

“The lesson for every development or research team watching looks pretty clear: more scammy ICOs for more money and a lot less work. Perhaps forcefully taking 20% of all rewards is the only way to get any contribution out of the mining industry. Are those the conclusions you want to impress on everyone in this sector? Because if greed feeding on itself is the only lesson, then this space truly deserves a really long and hard winter”.

Fortunately, this post has obtained almost 2000 views and hundreds of shares and it seems that Grin today has reached the sum of 55 thousand euros required by developers to be able to continue the work.

In fact, in the true maximalist spirit, Grin did not want to launch an ICO but wanted to rely only on donations from those who believe in the project.

Amelia Tomasicchio
Amelia Tomasicchio

As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for Cointelegraph and CMO at Eido. She is now the co-founder and editor-in-chief of The Cryptonomist.

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