Ethorse

Be very careful when considering investment. There appears to be no "face" to the company. I personally would not invest for this reason.

Interesting project, pretty mature product services. I'm interested in know some of the core team member.

Great vision! Good luck guys!

No public team - I personally find it inappropriate for ICO, a process of public token sale. But I see what the project says about it - they have some point.

Working beta is a great plus, but I do not like the model of security token - some commission model of utility token could probably be more interesting and carry less risks for potential future of project.

Team:
-I can’t estimate no one)
I read this article https://medium.com/@ethorse/ethorse-team-transparency-d9e944c1b4d2,
but in my opinion, there is no publicly presented team - there are no ratings.

Vision
- Nice idea
- I really don’t like dividend’s model, that’s a priori SEC regulated
- Huge risks for investors.

Product
- Working beta

We don't actually know anything about the team other than by observing what they have done. That is because they have chosen to remain anonymous since obviously this app could have legal and personal safety consequences for them if they publicly "own it".

So based on that I'm giving 4 since I'd say what they have built is definitely above average and the devs are doing all the right things with website, whitepaper, source on Github, active communities and already having an app up and running on the ETH testnet.

Vision I'll give 4 since although it's a relatively simple idea I think they are being very gutsy tackling this contentious area that will surely ruffle feathers all round the world. Gambling empires across the world should be taking note - this will certainly not be the last race horse in town to challenge their greedy empires. I think this app may also provide an interesting channel for prediction markets to get info. I'm sure there will be insiders who cannot resist making a bet on Ethorse to profit from their knowledge. Market analysts take note!

Product I think is definitely way above average - pretty much as good as you can get without having a launched product. As I have mentioned on code, test app, community they are rating highly.

My only concern on product is if the use of Oracalize for determining price is a weakness. Can a single source of price be gamed in some way? Maybe a DNS hack of their source API causes a huge payout thus placing a huge bounty on anyone who can do such a hack. Compare to Wagerr who will have up to 2000 validators independently publishing sporting event results and then forming consensus.

Should you invest? Well the economics of this coin for investors beyond the 100% bonus in round 1 are that you'll get a proportional share of the 5% house take on each bet. There will be 100M tokens in the public sale, 125M total. If you put in 1ETH and get 20000 tokens in the round 1 public sale that means you have a 0.016 percent stake of the take.

If you assume there are $1M worth of bets per day then that's $50k take for the house leaving you with $8 per day. Over a year of such volume your 1 ETH investment will net you earnings of $2920. At ETH/USD=1000 today that's a nice return even ignoring the appreciation of your Ethorse tokens that might occur. With predictable earnings like that everyone will want to buy in driving the price of the HORSE token up considerably. As volumes on Ethorse increase so will the price (compare to bond market prices relating to the interest they earn).

Can Ethorse get $1M of bets per day? Well, for comparison just look at Coinmarketcap data and you'll see there are 450 coins/tokens each with over $1M volume today. Over the last 24 hours the combined market volume was worth $46 billion. as we know the cryptocurrency markets are highly speculative - many people are essentially betting on them. It seems reasonable that people will be making similar "bets" as literally bets on Ethorse. They even use it as a hedging mechanism.

So even if we imagined only 1/1000th of that total $46B daily volume moving to betting on Ethorse that is actually more like tens of millions per day not just a million. Can you imagine the price of a HORSE if there was even $10M per day?

At the ICO Public sale 1 price they are selling for about $0.05 each. (1ETH=$1000 and 20,000 HORSE). As I calculated above 1ETH worth would net you $2920 per year per $1M of daily betting volume. So at $10M daily volume we are talking $29,200 per year. I would say that easily means 1 HORSE is worth 29200/20000 or $1.46. More realistically I think people seeing it as a predictable income would actually price it at multiples of that since at that price you're getting at 100% return after one year. People would KILL for such a guaranteed return elsewhere.

Even at $1M daily volume you're still talking a price of $0.146 or multiples thereof - so I reckon this will quickly give a 10x to 100x return for early investors. At $100K daily volume that is still $0.0146 earnings per HORSE per year or 29% of the initial price.

I wonder if the creators have ever wondered about using Ethorse to bet on the price of HORSE itself? That is pretty meta but I guess might have a destabilizing effect on HORSE pricing. Only time will tell I guess.

As ever, only invest as much as you can afford to lose!

PS. This ICO stage 1 sold 90% of the hardcap in the whitelist stage and the remainder sold out in seconds in the public stage.

So far all looks promising! Interesting project. Will definitely keep up to date with its progress.

This looks like it could be a sleeper ICO. Between the whitepaper, FAQ, and Telegram, the team has offered as much information as possible as you can as an anonymous team.

While I was hesitant of the anonymity at first, the reasons they've given in their transparency disclosure are valid and the Ropsten DApp and Github activity speak for themselves.

Most importantly, it's an ICO where blockchain actually serves a purpose. Between the trustless smart contracts and operation within an over-regulated industry, Ethorse has a place in the blockchain and cryptography realm.

I think some minor UX enhancements will go a long way for users. For investors, if the team meets expectations, owning HORSE will be an extremely fruitful endeavor.