I still don't see how crypto is involved in ths. Sounds like a kickstarter campaign to grow and sell bananas. Are the buyers buying the bananas with bananacoins? What is the fundamental reason for someone owning bananacoins? Do they own a share of the new banana plantation and get dividends or something? Again... what does crypto have anything to do with this?
Bananocoin is essentially an option, and the owner will make a profit when we sell real bananas. crypto-currencies are needed to raise funds and pay profits to our investors in the future.
So the total profit from the sales are distributed amongst all the bananacoins holders? And they are distributed as what? More bananacoins? And where do they come from? you buy them from the exchange?
the original concept of profit looks like the reverse repurchase of tokens from exchanges (so that you put the desired profit)
So essentially its a one time promise to repurchase tokens from the exchange after the sale of the first harvest (8 months)? And I'm guessing the token has no value after that? All I'm seeing on the whitepaper and business plan is a lot of smoke and mirrors about bananas being a cool fruit. There is no technical explanation about how bananacoins prices are going to be pegged to the international market rates for Bananas.
In all honesty, it looks like a scam. Its essentially saying: Hey fools, gimme your money so I can make bananas and sell them. In exchange for your money, I will give you bananacoins that I will make from the air... and you can hold on to them. 8 months later I promise to buy a bunch of bananacoins with the money I make and you should be very happy about that.
Am I missing something here?
Boy, this is the first time I've ever been in this thread and I do not understand everything myself. However, here I can tell you something. There is a kind of tokens, like credit tokens. In such projects, investors, as it were, lend developers money with a promise to buy back the tokens
Its a complete scam if you know what to look for. They are just beating around the bush when you ask the real questions. There will always be fools who fall for the buzz words.
Imagine I want to assemble a gaming PC and sell it on ebay. I make a coin called GamingCoin (GC). It costs me 1000 USD to make the gaming pc, so I start an "ICO" and gave away 1000 GC to 1000 people. So everyone now bought a GC for 1 USD. Now I sell the machine on ebay for 2000 USD. I make 1000 USD profit. Now imagine I go to the exchange and put up a buy wall of GC for 1000 USD @ 2 USD per GC. So that means its a buy wall for 500 GC. But remember there is 1000 GC in the market.
Now I have to be insane to sacrifice my profits to buy 500 GC for 2 USD each. I basically am back to where I started with nothing in my pockets and add to that 500 people holding a bag. If the math doesnt doesnt work for computers, it doesnt work for bananas either. All the bells and whistles about banana prices and fruit industry and shit is just for the "I know what I'm doing" look.
In other words...
S C A M