You are highlighting a very important point: cryptos lack of UX. Exactly this is where savedroid’s founders promise a huge simplification “Crypto currencies for the masses”, but they utterly fail to deliver a real simplification.
I need to understand a 64-page long whitepaper to make an educated decisions whether it makes sense to buy SVDs in order to be able to buy other cryptos with them.
This (and all other ICOs) must be seen from the perspective of the individuals creating them: what benefits are there for the founders? The ICO creates an influx of cash (until today €5M), which immediately improves the company’s solvency. They can now speculate freely with this money for weeks, since buyers are not able to do anything with their SVDs right now. Nevertheless the cash does not belong to them, but it is a crowd-funded credit with an interest rate of a whopping 30% (a bonus awarded to pre-sale buyers). Which means the company now needs to “find” an additional €1.5M if all buyers convert their SVD to another currency (and the SVD price stays roughly the same).
This creates an interesting dilemma: Savedroid has an incentive to increase the SVD prices as soon as possible, because the higher the SVD is rated, the less cash they need to spend on the conversion of SVDs into other currencies.
But why would I trust an entity, which owns, operates and controls the marketplace and the transactions on it with playing fair when there are no means of control?