Author: Kaloyan Roussev
Date: 29 August 2017
Do not make investment decisions based on this article – read the disclaimer before you proceed and leave the website if you disagree with it.
It is 27 August 2017 today. This review takes into consideration investing in IFT at its current price at $0.07
InvestFeed – the facebook of crypto
How do I rate an investment in this project at the current price? (TL:DR)
A conservative, semi-safe investment. Not my type. I don’t think it is going to explode in value in the following months, but I am quite certain there will be some steady growth. I wouldn’t buy just today, not before the 17 BTC sell wall has been eaten through.
InvestFeed is a social network for investors, where users can look at each other’s portfolio, make recommendations, and be accountable for their recommendations. It is all about transparency with them. InvestFeed has been around for a couple of years, but has recently carried out an ICO of their own token – Feed. I registered on their website, other than the newsfeed, there are BUY/SELL options for cryptocurrencies and also a Portfolio tab when you’re looking at someone’s profile. Both features say “Coming soon” upon click, so there are two reasons for the price to increase soon. There is a very annoying discrepancy between the website’s copy mentioning stocks in several places, and the functionality being about cryptocurrencies. I guess they might’ve undergone a fundamental change in their core functionality, and have forgotten to update the copy later on. (Reading the whitepaper, I can see that that is indeed the case). An InvestFeed user is going to be able to track professional traders’ actions, portfolios and results there.
The FEED token will be used to reward users’ content and interactions, similar to Steem and Bela. I really think they could’ve integrated Bela, since this is what Bela was made for, but then, they wouldn’t’ve been able to grab those ICO money, wouldn’t they. The system will generate FEED* to reward contributions so this might incentivize user activity, but it might also pose inflation on the coin. It could get to a point where those symbols become literally worthless. But this system is some time away. Until then we have features coming and speculation could drive the price up. *Whitepaper states otherwise: “there will be limited token supply versus demand and the value of the FEED Token will naturally appreciate , establishing a healthy ecosystem and control mechanism that rewards beneficial content and suppresses the noise”
I might start publishing my articles there, to get a feel of how it works.
Since the platform is already somewhat mature, and I don’t believe it is incredibly popular, as I’ve only heard of it once, I don’t think the token would explode out of the sudden, but with several features on the way, I don’t see why it wouldn’t grow steadily. So not by any means a high-risk, high-reward investment. I would put this one in the “conservative” basket.
- Website: does it look good/presentable – the home page and the utility sections are pretty conservative. The social network itself is loaded with features, takes some time getting used to and is annoyingly bland. In some places the widgets look as though this was a social network template code bought from CodeCanyon and customized. With fluent UIs such as Facebook’s, it is very hard and a long way until achieving something people won’t find ugly or not functional enough.
- Website: Does it have a roadmap for the cryptocurrency development – scroll down and you will see a very vague roadmap https://medium.com/@investFeed/investfeed-whitepaper-executive-summary-4467b09b66fc – first bullish event first half of 2018. That is if they adhere to the schedule. In the whitepaper, on page 22 is a much more detailed roadmap, and I don’t even know how they are going to do all that. https://www.investfeed.com/upload/investFeedInc.TokenSale.pdf
- Website: Does it have a whitepaper – yes, https://www.investfeed.com/upload/investFeedInc.TokenSale.pdf Read the whitepaper, please. It has all the information neatly organized in one place. I’ve been researching this thing for 2 hours now, and finally found the answers to all of my questions in the whitepaper. I like how they conclude the White Paper with several pages of risks regarding crypto trading (IFC in particular) – very transparent, very informative.
- Website: Is the domain name and TLD good – the project name + .com – best combination ever.
- Website: Is it a quick wordpress template, a 2-hour html job or a custom design with lots of work, money and thought thrown at it – the social media part of the website is specific-feature-heavy so it has to be custom. Social Media websites are A LOT of work, very expensive.
- What new does this cryptocurrency bring to the world, what problem does it solve, what does it stand for– social network for crypto investors to share their predictions, portfolios, find information on coins, make friends with other investors, trade crypto, and create content, incentivized by FEED tokens.
- How does the cryptocurrency name sound (does it sound legit and like a good brand name) – The name InvestFeed is benefit-driven and might become a thing among crypto traders. The coin name FEED is alright I guess.
- How does the logo look – I will never be able to remember this logo. It is the blandest logo ever.
- Is it a PoW, PoS or PoW/PoS coin, what is the mining difficulty or APR, does it suffer from inflation – pre-minted ERC20-based token.
- Who is behind the cryptocurrency – are they shady figures, or have they placed their names and pictures on the website; what is their track record and reputation; do a quick google/github research on them – you will find info on the team on the website, and in the whitepaper. I suggest you look at the whitepaper first because they’ve gathered the most important info about each team member there in a concise, informative manner. They are guys with many years of experience in what they do. The founder has been a trader for more than a decade, and the co-founder has been in tech for more than a decade. They have public linkedin profiles and are a completely trustworthy bunch of people.
- What is the limit on supply of coins in circulation – 191 million, according to coinmarketcap. Acceptable.
- Is there a link to the source code – the project is already in motion and has been developing with a fast pace publicly so we don’t need to look into that. The platform itself is closed source. The company’s github page only contains an ICO-related repository
- What the project survival relies on – The SEC has allowed people to be public about their investments back in 2013 so I guess there won’t be any regulatory risk here. The FEED crypto however, is an ICO and the latest news from today is that China has cracked down on ICOs until they figure out how to regulate them. Other countries can follow suit.
Exchanges and trading
- Which exchanges (and how reputable they are) is the coin traded on, what is the daily trading volume and market cap – so far only Cryptopia, not among the best exchanges. Possibility for price surge if added elsewhere. It is getting increasingly more difficult to get listed on an exchange lately. Oh, and EtherDelta of course, but that’s a given for an ERC20 token, isn’t it. Not to mention people dislike its clumsy UI. 24h volume – $126,558 – still relatively unknown. Could be a good time for entry.
- Are there buy (support) or sell (resistance) walls – there are no buy walls so there’s nothing stopping the price from tanking. There is a sell wall of 16 BTC (Which is a lot, considering the Daily trading volume is 28 btc). People have observed that this wall appears and disappears, which means somebody is manipulating the price, keeping it down.
- How does the chart look – slightly bullish, price has never spiked so far, so it might be a good time for entry.
- Is there a Bitcointalk forum Announcement thread – Yes https://bitcointalk.org/index.php?topic=1989821
- How many pages is it – 32 pages only. Phew, God has mercy. Last time I had to read close to 100 pages. Even though I hate this part, because it takes up a disproportionate amount of time, it is maybe the most valuable part of my research – people on bitcointalk beat the horse to death when it comes to evaluating a crypto and the discussions there are priceless. In my opinion, it is immature to invest in a cryptocurrency without having read through the bitcointalk thread first.
- History of the coin according to the forum and general public impression of the coin throughout – investFeed is a team member, participating in the discussion. People seem to like the project. Annoying bounty hunters are at it again. Some questions around the ICO. Business as usual. Then we get a few pages of everyone sucking each other’s ****s over how good the ICO is going. More positivism follows. Raised $4 million dollars on 7 August. This should keep the inflow of new features. Post-ICO period price drops, people getting frustrated.
- Do they have a blog, anything interesting on it? – mostly what they are about, some news about features, the way the token will interact with the ecosystem and the way funds are distributed https://medium.com/@investFeed
- Is there a slack channel – there was a slack while the ICO was underway. They stopped it then, to focus on Twitter communication
- Is there a Twitter profile for the cryptocurrency and does it post regular updates, how many followers https://twitter.com/investfeed 142k followers, most I’ve seen so far. Impressive. I guess its all those people they’ve been interacting with since their inception in 2014. Tweets are very frequent
- Is there a Facebook page for the cryptocurrency and does it post regular updates, how many likes – https://www.facebook.com/investfeed/ 10k likes. Same posts as Twitter
- Are there any known problems with the source code, the wallet or something else regarding the coin (transactions, mining, efficiency) – many of the promised features aren’t implemented yet, but that’s a good thing, because it will give reasons for the price to rise
- Is there an active development for fixes on the way – active development
- Has the wallet been under maintenance for prolonged periods of time on some/all of the exchanges Is any government planning on banning the coin (or similar coins) or putting heavy restrictions towards its use – might be some problems related to the fact its an ICO
Popularity and perception
- What does a quick google search tell us about the coin – ICO news. No bad articles
- Are there youtube videos about the coin – a few introductory videos about it with almost no news.
- What is the general sentiment in the comment section below the videos (constructive, fud/hype, calling out scam etc) – almost no comments below videos (and not many views either).
- Is the coin associated with illegal/criminal activity or the dark web – no
- Similar cryptocurrencies/projects – can’t think of any
References and links:
I am sure I might’ve made some mistakes in this post or in my research. Please, forgive me, if I have, and contact me to tell me where I went wrong. It takes about 4-5 hours of my time to do a full research on a cryptocurrency, and I try to do at least 4 per week.
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