BitCar ICO

Could blockchain lead to cheaper car purchases in the future

BitCar ICO

It is advisable for one to conduct their own research regarding ICOs and their limitations or advantages as the internet is not a good financial adviser when it comes to how one should handle their money, however, a quick overview of the way an ICO works, its token economics and its white papers is a good dive into what the ICO stands for.

Another ICO that has grabbed the attention of many investors is one that goes by the name of BitCar. People are not really talking about it even though it is kind of an interesting project. The idea is not really fancy however investors don’t really care about that. It wants to create a platform for buying the fractional ownership of exotic sports cars. BitCar tokens are actually backed by real assets and not an intangible line of computer code. It is another good idea. The two members of the team used to work for Power Ledger and experience is always a plus. BitCar is going to have a hardtop of 22 million with a total token supply of 250 million; 175 million tokens are going to be sold to the crowd sell;  and 75 million tokens are going to be sold at the presell with the maximum bonus set at 15 percent. This ICO has been going strong for a while now which is confusing because there is close to no hype about it. There are only two thousand people in their telegram. Exotic cars are going to be stored for five to fifteen years at which point they will actually be sold and the assets appreciated or distributed back to token holders. So it is taking a novel approach to long term investing however if one looks at the negatives one can see that its target audience just wants prestige and sensory thrills. Why would anyone from this demographic hold an asset for five to fifteen years. Living in capitalist societies, everyone is materialistic. No one is going to put their money in something and wait for fifteen years to get a return on their investment let alone the demographic they are trying to target. Exotic cars are high performance machines. They need to be driven on a regular basis. Maintaining a collection of expensive cars one can not drive is nonsensical from an economic perspective. One would need to change their oil, keep the air pressure and the tires updated. One has got to check the battery. If one is keeping an expensive car in storage for ten years or more it is going to need to be exercised and used.

Keeping all that in mind, it is essentially up to one’s own self whether they choose to invest in an ICO or not. Research, analyse and approach with caution. The world of ICOs is your own playing field and whatever way you choose to venture out in it, make sure you are fully equipped and motivated before doing so.