Miracle Tele is a blockchain powered mobile telecom operator. They want to revolutionise the sector, by being consumer-oriented and bring value-added services. This article will look at their evolution so far.
You can check them with this invite.
You can read the previous articles here :
* Introduction to Miracle Tele and its tech
* Miracle Tele reward analysis and simulation
* Miracle Tele experiences and community
* Miracle Tele article in Dutch
Disclaimer : effort has been made to verify all initiatives presented and often use them ourselves. The aim is to avoid HYIP, pyramids and other deceit / scams. Still, always do your own research, this post is not advise, you are responsible for your decisions.
ICO end and exchanges
Lets start with the unexpected news that blew our minds. The ICO was supposed to last until Oct 15th 2019 and have 2 more price increases, whereas listing on exchanges was on the roadmap for 2020 Q1. Yet on May 2nd Miracle tweeted : “We’re proud to announce the closing of tokensale on May 15th. TELE will subsequently be listed on crypto exchanges and unsold tokens will be burned.” Surprise !! And in those 13 days almost 17 million tokens were sold, representing about a quarter of total amount of tokens sold…
Annother announcement initially left the community with mixed feelings : 10 million extra tokens will be available to conclude the crowdsale and 75 million tokens will be burned. Considering blockchain confirmation time was abysmal (due to price of cryptocurrencies notably on the rise) and not even mentioning people who (naively) initiated traditional payments late, doing something for the people whose payments are concerned would certainly be appreciated. Considering the final day almost 6 million tokens were sold, it isn’t such a weird first response.
After a successful test with 1 TELE, a little more than 74 million tokens got “burned” and therefore removed from the available supply permanently. This happened by transferring them to an existing yet inaccessible ETH address on May 16th. Since almost 66 million tokens were sold by ICO closing, the question is if “75M tele will be burnt” or “10M extra tele will be sold” will be the metric. With the current amount of burnt tokens, it seems there retroactively was 10.050.372 tele available on May 16th 00h01. Obviously more tokens could be burnt to make “75M burnt” or “10M sold” an exact number (both is mathematically impossible and the difference is almost 1 million tele).
Lets be honest, this can and must go better. Surely enough there was a lot going on, spread across different branches, yet communication is critical to the perception and success of any project. It’s also not the first time.
In the past, key changes -while understandable and with good motivation- have silently been integrated into the pinned message. Examples are increasing the account unlocking amount to 100 EUR and installing a 200 TELE minimal withdrawal amount. The arguments to have these are good, but the lack of forthcoming communication and people “stumbling” upon it made them contestable. If an announcement (ideally with explanation) would have been made upon implementation, reception would have likely been different. Moreover there probably would also have (publicly) been voices applauding those.
Possibly it was the excitement of wrapping up the ICO stage, maybe in combination with over-exertedness of 4-6 weeks airdrop + bounty, yet some communication slip-ups happened in latest weeks. Additionally it seems some of the external communication was done through a notable language barrier. Or improvidently. And faltering internal communication between departments. It created some dissatisfaction and even alertness / distrust within the community. Also a constant “announcement incoming”, which made it sound “anytime now” (but then didn’t quite / fully follow), kept people on edge.
Fortunately things are improving. Their official telegram announcements channel has been reactivated (as suggested by yours truly). This gives people an easy source to be sure they’ll capture any important news. The wording around exchanges and the 10M tele extra has also returned to imply it will take some time before any significant updates will become available. Signs are there they’re seriously and carefully contemplating all things concerned, before moving forward and making any public communication about that. While that might be not the fastest, it’s definitely the smartest in the long run.
Shortly after the new website launch, a revised Whitepaper was also published. The whitepaper remains a critical source of understanding a project and doing your own research. While a newer is apparently being prepared, this revision is still worth checking out, it’s definitely more than new matching layout. Both the new website and revised whitepaper feel more streamlined. In particular the website seems “simpler”, yet for people new to MiracleTele and maybe blockchain that’s probably a plus, because it’s easier to focus on the big elements. While the whitepaper seems more “mature”, while similar information remains available.
The whitepaper revision starts with context (rather than goal). It’s analysis of the existing telecom sector, which highlights that MiracleTele has spent effort on doing their own research into the market, both traditional and upcoming. It openly notes potential competing and complementary initiatives. It shows good understanding of the market and trust in their own project, which in turn helps the reader understand the potential. A notable addition is also the 4th target audience group : digital nomads and remote workers (who are a significant and growing business).
The whitepaper revision is well structured, with good flow : landscape > problem > solution > build & roadmap. Of course it still starts with disclaimer and abstract as well that it still ends with team and token sale. The writing is often more concise, yet still complete, some reordering and less repetition. The layout is an extension of the structure and helps easily capturing the main points.
Some notable elements :
* Free data for whatsapp / telegram has been slightly delayed to Q3 2019 (July according to an official email).
* The choice for the own blockchain technology isn’t presented yet, with ETH + plasma and “alternative” graphene still both explained. (Supposedly it’ll to become ETH + plasma, according to information on their telegram.)
* Absence of information around (community operated) masternodes for their own blockchain, in role and practical sense.
* No longer is the “prepaird debit card” mentioned. (Except in the image “MiracleTele network structure diagram” on page 41.)
* Two people left the team, 1 person joined the team and 1 more adviser was added.
Currently stacking rewards are your share (according to amount of tokens stacked) from 40% of their net profit. Upon exchange listing, this would change to a FIXED 2,18 EUR per 100 tele montly and be increased over time, according to the CEO. In the first month of stage 3 the average reward was 2,59 EUR per 100 tele monthly. Though considering that since sold tokens increased by a third due to the ending ICO and that those could become legible for earning if they have been stacked, that might still be advantageous to HODL’ers.
This fixed reward makes earning simulation very easy too. For each 100 EUR deposited and tokens still purchased at ICO price of 0,20 EUR the yearly profit will be 142 EUR. (And 87 EUR still in 2019 starting May 16th, yet reward is not fixed yet, so inaccurate.) While for each 100 EUR deposited and tokens purchased at exchange opening price of 0,50 EUR the yearly profit will be 57 EUR.
Compounding is the principle of interest upon interest. At MiracleTele this would mean using (preferably every) stack earning to buy more tokens and then next time getting more earnings because the amount of stacked tokens increased, on (infinite) repeat.
With a fixed reward of 2,18 EUR and a minimum token purchase of 10 tele, this means 184 tele (when buying at ICO price of 0,20 EUR per tele) respectively 459 tele (when buying at exchange listing price of 0,50 EUR per tele) need to be stacked. Compounding still works with less tele in stack, it simply means you’ll need to collect the earnings a few times and the process is slower.
A lot has happened. And a lot has still to come (sometimes there’s hints at big plans aside from “when exchange”). Basically MiracleTele is growing up, not without pains, but also with a bright future. Currently MiracleTele is working hard as well as attending relevant congresses (with option for scheduling a meeting).
While exchange listing is important (in particular for crypto fans), the free data for whatsapp / telegram will likely expand its telecom userbase and deploying their own blockchain will help scalability / longevity. With probably some more surprises along the way.
Get yours https://miracletele.com/?friend=1456acf26854f1
Tip : to register use your home network (rather than a public one because many users on the same IP or device might get flagged) and no personal information / verification should be required.