Today I am going to cover the Telegram ICO with my full unbiased review.
Before I begin I do want to say I was not paid by Telegram for a TON review.
This particular ICO has been getting a lot of buzz in the crypto space. Interestingly enough it’s been going a bit mainstream as well getting on Bloomberg and other news networks.
So lets take a look at the Telegram ICO shall we?
Telegram ICO Review
If you haven’t heard yet Telegram is starting their very own ICO. The token is called TON which stands for Telegram Open Network.
TON is looking to be the biggest ICO ever with a speculative goal of $2 BILLION dollars. This is a combination between private investors and their crowd sale.
This really is huge and unimaginable when you compare it to any other ICOs we’ve seen thus far. I’m sure a project such as this could run into the tens of million possibly but $2 BILL?
We hear the term “MOON” in crypto all the time but this is bringing a whole new meaning to that phrase. I don’t buy it.
Could this be the biggest cash grab in the history of ICOs? If you know me I don’t S#$T talk companies. I really hope I am wrong about the Telegram ICO. Maybe they will have something that is absolutely mind boggling.
I am all for mind blowing technology but this kind of money could rebuild small countries.
Just to give you an idea. Here is a screen shot of all the ICOs combined in 2018 so far. It still has not reached $1 Billion in total whereas Telegram ICO wants to double that.
Telegram – Two Versions
One thing we can definitely agree upon $1 billion is a huge chunk of money. Now you have to ask yourself. Is this going to be a good investment and can you make gains?
Before we get into that what about the messenger itself?
If you don’t know this Telegram is the main messenger service for most cryptocurrency coins and tokens. One of the first things I do is add myself to any ICO or coin I am researching. Most ICOs and coins list their Telegram group on their website.
I’ve been on Telegram for some time now. At first I didn’t pay much attention to it. When I first got started I downloaded the ‘telegram’ version not the ‘telegram desktop’ version. There wasn’t a scroll bar and it kind of annoyed me so I didn’t use it much.
Then I decided to do some Youtube research to see if I was missing something in the settings. Come to find out there was another version I could download. This was the IOS desktop version. The scrollbar now works and everything’s perfect.
Telegram ICO – Crypto Go To
Now I have to say when I am researching an ICO or a coin I add myself to that Telegram group immediately. I get right into the group and get my questions answered.
Most companies have an admin in there 24/7 and it’s usually a great experience. Just recently I added myself to a new ICO and come to find I was talking to the President of that company. Most times I’m sure it’s a paid admin but they’re usually pretty good as answering my questions.
Telegram’s simplicity has been a big part of their growth in the crypto community. You can download both a desktop version and also mobile. Just use same user and pass and you’re good to go. Now you have access to Telegram on both desktop and your smart phone.
It’s extremely user friendly and most of the crypto space is using Telegram. Newer ICOs have been able to grow from basically nothing to groups in the tens of thousands relatively fast.
In my own opinion it’s been much more helpful then any other social media outlet or sending in help tickets.
TON – Telegram Open Network
The Telegram token is going to be called grams and the coin will be called TON. That makes it a bit confusing.
There are four main parts to the TON token:
- Services
- DNS
- Payments
- Blockchain
So lets go over these 4 TON parts.
Telegram ICO – TON Services
First TON services which is basically a platform for smart phones. They want to make user friendly interfaces for decentralized apps and smart contracts. From what I can see Telegram will allow people to develop decentralized apps for their platform. Much like apps you see today but they will run on smart contracts.
Telegram ICO – TON DNS
Second TON DNS is smart contracts, services and network nodes. I had to research and ask around about this one myself. Telegram is looking to create it’s own internet that is completely decentralized.
Telegram ICO – TON Payments
Third is TON payments. Just like it sounds. Making decentralized payment peer to peer, through bots, and other services. In simpler terms. They want to be a very large payment system just like bitcoin with hopefully faster transactions and lower fees of course.
As it stands right now there aren’t really any cryptocurrencies that can be a world wide currency. Bitcoin for example can only handle 7 transactions per second. That’s just not fast enough. Companies such as VISA can do about 2000 transactions per second or more.
It is yet to be seen if TON will be that cryptocurrency to be used as a worldwide payment method. There are a few other coins like Electroneum (ETN) who I believe could be used as an actual global currency. Or the newer Credits ICO who claim they can do 1 million transactions per second. That is also yet to be proven.
Anyone can claim such things. Making those things happen is a different story.
For Telegram to become a top five or ten coin is going to be a huge undertaking for sure. Even though I really do like the app seeing I use it every single day. I am NOT sold on the ICO side of things and raising $2 BILL seems a bit much. Just my personal opinion.
Telegram ICO – TON Blockchain
Fourth they are talking of some sort of a master blockchain with a 2nd to the 92nd power accompanied blockchain. So what they are trying to do is have one main blockchain with a TON of follower blockchains. Without getting too complex they want to have a blockchain with a lot of scalability as is grows over time.
One thing I read TON wants to be able to automatically split and merge to accommodate changes in loads. From what I am understand they want to be able to hard fork without having to make a new coin. Or something of that sort.
Looking at everything thus far you have to believe Telegram is trying to be a main player in the crypto space. I would say they are very ambitious to compete with coins like Bitcoin, Ethereum, Ripple and so on. However easier said then done.
Telegram ICO Proof Of Stake
I’m actually really happy about this. I think Proof-Of-Stake is the future. I think proof of work or mining coins regularly is not going to be the future.
Remember no coin is perfect. At least I have not come across one that was. They all have their strengths and weaknesses. Some more then others. Many will fail and be worthless.
I’m just not sure if Telegram has what it takes to break into the top ten even in the long term. So far we don’t know enough. Telegram could hit their hard cap with so much hype and fomo. That does not mean you’ll profit or the coin will be the next big blockchain.
Telegram ICO – NON Official Whitepaper
If you haven’t heard a Telegram White Paper was leaked from some credible sources. None of this is official but I will post it below. Obviously this is something I am sharing and take it for what it is.
At this point in time it’s impossible for me to give you all the specifics. The only reason I am doing a review this early is because it’s Telegram. If this were new company with a new name it wouldn’t get my time or energy.
However it looks as if the Telegram ICO will be going live this March so it’s not to far away. So it’s getting a TON of hype and made me do a Pre Telegram ICO review.
Telegram ICO – The Positives
Most people in the crypto community are using Telegram. It’s a really good tool. It really is the most user friendly platform to learn about a coin. Speak to the team. Get your questions answered.
Telegram by and large is a blockchain based ICO which is arguably the best type of ICO to get into right now. If I was to look at some of the positives. They are trying to make a super blockchain. You’ll be able to create smart contracts, decentralized apps, a wallet builder and also act as a currency.
Telegram has been around since 2013 so that’s also a positive. Has over 130m users and 30K + groups. So there is already a product. It’s not just a new company coming in with a new idea. Telegram has been established for a while.
They do have a superstar team in terms of business experience and software development. The Telegram founders have built a HUGE app and they are absolutely behind this ICO. They also have 15 World Class developers.
No doubt their team is solid but I am not seeing any world class blockchain people behind this project??? That is an issue for me.
That being said I will say this. I have invested in teams before and money can absolutely buy talent. You just have to ask yourself is that there intention and are you willing to invest your money.
Personally I have to be 100% behind a team and a project for them to get my money. So that’s something you have to ask yourself.
Telegram ICO – The Negatives
You have to ask yourself what is the actual pain that Telegram is addressing and can they can that pain go away? What’s wrong with Telegram? Why do they actually need this blockchain and ICO?
Why do we need another blockchain service that’s linked to Telegram? Personally this is one of the questions I have with this project. I mean how many people actually pay for apps or pay for things on Telegram? No one.
That’s the beauty of Telegram it’s a tool and it works.
We use Telegram to communicate with teams and team members or get our questions answered in different crypto groups. We aren’t really going there to pay for stuff.
There token supply is 5 billion which is quite high. My cutoff is usually 1 billion or less however I do make exceptions from time to time.
For example I personally invested in Electroneum which has a fairly high token supply. But there is a difference. I believe 100% in their project. Personally I am willing to take risk in something I am 100% behind.
Telegram isn’t really showing me something I haven’t already seen. Also I’m not quite sure if Telegram has that same long term growth potential as coins such as Electroneum, Cardano or EOS.
I just don’t know if 5 billion tokens is going to be a problem with the Telegram ICO. What I can say with certainty this is not going to be a short term flip for profit. Unless there is institutional money this is going to be a very slow long term build.
If you’re familiar with Telegram you know it’s not monetized. So it makes you question are they using this ICO as a potential cash grab? Everyone needs to pay their bills and a couple billion dollars would certainly help the cause.
Telegram ICO Intention
Companies like Facebook, Twitter etc don’t really start off monetizing their platform. After it grows they usually start adding advertising and other things to generate cash flow. They have to pay the bills to pay for the service.
Telegram is very similarly not monetized. So are they doing all this to pay the bills to keep the app going? If that were the case they are more interested in getting funding rather then building the next great blockchain.
I’m not trash talking Telegram. It’s possible they have big plans to actually create some super blockchain. However I have to ask the hard questions because there is lots of talent out there.
Personally this is why I am not investing. I’m just not sold on the fact that their intentions are 100% pure. As I mentioned earlier $850 million was sold to 81 investors and plan on grabbing another $1.2 billion.
This creates a problem in itself. Lets say some of these ‘whales’ one day don’t see the long term potential and decide to dump. The value of TON will plummet. It’s going to make it really hard for Telegram ICO investors to make a profit on their initial investment. They could even take a loss.
My Telegram Conclusion
Take into consideration this is all my personal opinion. Whenever you invest do your own research. I am not a financial advisor.
Lastly I’m just going to put it out there and say they are not unique. Companies like Status, Obsidian and Kik are already doing the messaging app thing. They may not be a giant like Telegram but they are doing it nonetheless.
Telegram is not going to be the ‘category creator’ if you will. For me I don’t see an actual pain in the market that Telegram is trying to fix. They are not unique. So I’m not quite sure what the whole point is behind the Telegram ICO.
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