Just for interest's sake, the Kin ICO has been a fizzer compared to many other ICO's. In the first 24 hours in which preregistered participants were eligible t

Just for interest's sake, the Kin ICO has been a fizzer compared to many other ICO's. In the first 24 hours in which preregistered participants were eligible to buy equal amounts of tokens only 20% was sold. Now, almost at the end of day 2 during which contributions have been uncapped, around 60% of the total has sold. Compared to other ICOs where they sell out within a minute or two, or where whitelisted participants snap up 75% on day 1, this is pretty slow. I think it probably won't reach the 75 million cap. Here is why I didn't get involved: 1) They presold $50million tokens to polychain capital, pantera capital and blockchain capital at a 30% discount very recently. 1/2 of these tokens had no freeze and could be dumped on the market at any time. Polychain capital has already shown that they are willing to dump large amounts of tokens within days of an ICO if the price is right last month with 0x project. 2) They are offering 1 trillion tokens but minting 10 trillion, allowing them to basically dictate monetary policy. One of their employees even posted on twitter that they don't want "too much" price appreciation, and if it occurs they would intervene in the market (eg. dump more tokens into the market). Come on. If you want me to buy your made up, meaningless, nothing token, don't take the piss by selling it at a massive discount to hedge fund dumpers, and don't tell me that you're going to control the price. If I'm going to take a dumb risk, and it is a dumb risk, I want the possibility of some upside.