No followers on social media, a team that is a bunch of cartoon characters without names, and a Telegram ICO in the works are enough signs for me to say sell coins.  Their vision of a crypto-capable IM is valid, but just no beef behind the vision, given that the transparency of this project casts titanic doubts over both its credibility and ability to deliver on its promises. Even if BeeChat were to reach billions of users, who would entrust their money to an anonymous team with no proven track record?

Chatcoin: Time to Exit?

This scale of operation would demand next-level security and performance, and there is no evidence that the OpenChat team can deliver on either.  The Telegram ICO train is coming off the tracks! Speaking of Telegram, I think this is even a bigger nightmare in the ICO world. I would stay so far away from this one! What is making Telegram so popular to use with all the other apps out there?

Perhaps it’s extra layers of security and privacy that account for the excitement, as it’s become a favored messaging app among the ‘crypto elite.’ “Telegram is my crypto world,” says Woody Levin, Founder and CEO at 3.0 Capital. “It’s one of the first things I check in the morning and one of the last things I do at night.”

Doubts Around CHAT Token

With all that said, yes, they are up and running with one of the fastest-growing free apps, yes, they have a ton of users, yes, they have a wealthy founder, but how are they going to make money?  Yes making money is the only way the ICO will turn out to be good for the investors, and just not a way to fund this money sucking drain called Telegram.  Telegram has no viable business model, as it makes no money on purpose.

If you would like me to do a review on Telegram and really explore the inner workings, contact me with a request. You, the readers, choose what I review by making requests.