ICO Whitepaper and the Reality.
One of My Biggest Frustrations in the Cryptocurrency World is the Hype of the Whitepaper vs. the Actual Product Release.
Does anyone else feel this way? It seems like this happens too often. The whitepapers, websites, and hype are all about how amazing something is going to be. Then once the product is delivered I am severely disappointed. I guess I should mention that the majority have not even gotten to the point of a product.
One Way I Follow Progress is Through the Project Commits on Github. CryptoMiso
This does not work for many tokens but most of the big players are on here.
I Understand the Difficulty of Releasing a Quality Product.
People often ask me, "Randy when are you going to release a platform?" Well, this is exactly why we have not. My company Token Magic is close to our first product release but that has been months in the making. Finding blockchain devs, front and back end devs, UI devs is not easy. So the next time you wonder why products do not come out as good as the whitepaper remember that this is a very young space and we are all learning everyday.
Some ICOs delivered good products, but many didn't even make it to the bad part of that drawing. LOL
I like what EOS is doing with the airdrops and what Ontology did with NEO holders. Just hold the platform token and get the rest for free. If only few of their dapps successfully get mass adopted the platform token holders win bigly on the app tokens and the platform token appreciation. It is a fact something like 90% of these ICOs will fail anyway just like 90% of all start-up businesses fail. If only more Investors understood this I think this space would be much more stable.
This above is another reason why I am not letting go of my Steem anytime soon. If SMTs start airdropping to Steem hodlers the Steem price will explode and we get a lot of free tokens! If any of those SMTs successful we win big time.
I wonder how the airdrops will be handled and where the coins would show up?
That's a great question that need an answer. I am still waiting to claim the free Vice tokens that were promised months back. https://steemit.com/steem/@furious-one/steem-softfork-to-vice-and-airdrop-for-block-18-500-000-steem-holders-sfw
I hope Steem and @ned releases news soon. I wanna start seeing software releases not just talks about it. Action worth a thousand words.
This is the reason we need to make the DAICO model mandatory suggested by Vitalik Buterin.
That's true now the most usfeul blockchain is steem and eth but i think this year we will see more interesting ideass coming true for example i love the project of venchain for example i love the project of venchain. Regards
I sold all of my Ven a few months back. Once the momentum left I felt it was time to go. They kept delaying the rebrand and it pissed me off.
Love the horse picture breakdown... laughed out loud. Thanks sir!
you are quite right, sometimes it hypes the actual production value and the picture is funny but reveled the truth.
Yes, your points and experience is real answer means, in my opinion Whitepaper just shows an trailer of actual picture, so after project launch there could be many reasons for the stability of instability of an project, and the biggest reason is the team behind particular project, if team is strong, possibly it can face the lack of stability initially but it will stand for long term and in case of incapable team, then no matter what your Whitepaper is telling the results and performance of that project will be nil. Thanks for sharing and wishing you an great day. Stay blessed. 🙂
I think this is a reason why there has not been even more money coming into crypto!
There are far too few quality developers helping out in the space! It seems like some are leaving their current jobs, but there are still thousands of positions that need to be filled!
The content creators and marketers are ahead of the developers and analysts. Also, I believe it is harder to pull something off from a development standpoint than it is to get it on paper!
Very good point. And I loved the blockchain horse graphic! Just thinking off the top of my head here, but I wonder if part of the reason has to do with the mentality of the tech world? In Silicon Valley, for example, there seems to be a real push to get a product to market as fast as possible. Products are released in "beta," a little bit half-baked. Companies are encouraged to create a Minimum Viable Product (MVP) rather than a fully-featured, fully-tested product. That might work with an app... but not with a blockchain project!
I think you are on to something. Some blockchain projects have been working to deliver something for years. That would not be tolerated in Silicon Valley.
If it's an infrastructure project it might be different. But with dApps or tokenized ecosystems projects you can release a MVP/POC or a private beta (as a pilot). For example, Dpact is a microfinance project using blockchain, in less than 3 months they released a pilot (MVP) and they are doing tests to see how it will scale.
Love the horse picture breakdown... laughed out loud. Thanks sir!