Oct 1, 2017 08:00 AM
(This post was last modified: Oct 1, 2017 10:09 AM by Eagerkid.)
PURE INVESTMENTS ULTIMATE DISCUSSION
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Paragon COIN REVIEW
ICO : UNTIL October 16th 2017
ICO : UNTIL October 16th 2017
TABLE OF CONTENTS
WHAT Is Paragon COIN?
MY ANALYSIS OF THE COIN
WILL I BE INVESTING?
PERSONAL RATING OF THE COIN
MY ANALYSIS OF THE COIN
WILL I BE INVESTING?
PERSONAL RATING OF THE COIN
BASIC INFORMATION - Decentralized Marketplace for Marijuana
Bitcoin Talk Discussion- https://bitcointalk.org/index.php?topic=2092712
WHITE PAPER - https://paragoncoin.com/whitepaper.pdf
Price of the Coin - Final price: CURRENT PRG PRICE : $1.75
TEAM -
Chief Executive Officer
Jessica VerSteeg
Chief Creative Officer
Egor Lavrov
Chief Technology Officer
Vadym Kurylovich
Chief Legal Officer
Julian Zegelman
Chief Financial Officer
Giovanti Humphries
Extended list : https://paragoncoin.com/en#teamSlide
MY ANALYSIS - Because I am from NY I am out. However I think it is a cool service, Blockchain Techonolgy never fails to amuse me and I like how Paragon wants to get into every aspect of the business. Being in the United States however where it is illegal in most places, the speculation for more States to legalize it is not something I am willing to invest in. The marijuana business is booming with fiat currency, and because cryptocurrency will take a few more years to even begin adoption I see this as a worst investment than buying the penny stocks that are available on a regulated exchange. I can’t see this as being a investment that I would be willing to give my Ethereum too. However I am surprised at how the whitepaper actually turned out, it looks well thought out and looks like they are actually trying to build a empire in the Marijuana business. However my biggest thing is, Conquer the objective of making it legalized in every state before moving into the sector in a crypto currency only fashion. We need to overcome the restrictions of individual states before we jump into this, and so I think the timing of this business is really premature and for that reason I think they are going to have a lot of successors who will come in at a better time and scoop the market. I think they are rushing into this because of the ICO frenzy and are looking at this as a crowdfunding source. I also don’t think this is worth more than $15m and with the current evaluation of $1.75 per coin they are certainly exceeding that. They are also trying to advertise the fact that they will "burn" the coins that are sold. Very cool concept, but I dont think economically it is going to make a huge effect this early on in the stage of the business. So if you are interested in getting involved, just wait for it to hit some exchanges and buy into it once they start establishing offices and prove themselves which I think will be extremely hard as I explained above. I think their idea of Paragon Plant Tracking Software (PTS) and the whole registering process with smart contracts is a really good idea and think it could work. I just think they are going to have a hard time with the legality of the business since crypto currency is still extremely new. There road map is pretty impressive considering they believe they will be purchasing their first location in February 2018 in which I personally think it will take a lot longer. Sadly they won’t have the smart contracts fully finished until November 2018 which is pretty alarming for me as an investor considering that is a main piece of the whole business. They also keep listing NY as a city, but they haven't even legalized it and it doesn't look like they will in a very long time so it doesn't make sense that they would list it.
WILL I BE INVESTING? - I will not be participating in the ICO, and I don't think I will ever purchase this. Of course my views could change, however they certainly won't change until they minimally get the smart contracts finished. If you live in a area that is legalized you could possibly see this investment in a different light although you likely won't see a return for a year and that is of course with the assumption that this project actually succeeds. With the hope that people using marijuana will want to use crypto currency to buy it in 1 year which I don't see.
PERSONAL RATING - 0/10
We are so far away from this being successful that it is not worth it. We need to see this in action before we can accurately consider it.
Invest at your own discretion. I am not responsible for your investment, I am simply adding my analysis and prediction. I am not a programmer or a coder, I am making my speculation based on my previous business experience and understanding of the market
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