I was asked nicely by a community member that I respect to restate my concerns here more objectively. Here goes---
1. Wallet functionality. The XBG wallet is the central infrastructure piece of a project for users. However, the Bitgrin wallet (Kingfish) doesn't work for me or for many community members. It requires use of a VPN and other hacks which have no guide. A new wallet to fix was pre-announced then delayed. With recent delisting you have to hire third parties on OTC or others with VPNs to transfer funds. It's inconvenient.
2. Listing problems. There was a fight between the developer and BitMesh a few months ago that seemed to be resolved, but then Bitmesh suddenly delisted Bitgrin this month. This put the users in a bind because of wallet problems and a short time (just 2 weeks) to get coins off Bitmesh or burned. Very little help from developers to resolve this and no communication with the community about listing plans or alternatives.
3. Mining and attacks. The network is constantly being attacked, forking, and rolling back. That may be just new project blues but in my experience I've never seen a project so frequently under attacks of different kinds. The project also lost money with double spends on exchanges. There's no explanation for the consistent attacks nor have the devs outlined a plan to fix it -- for example, chain notarization for double spend protection (VBK, KMD, SAFE options) or other tools?
4. Misleading "Bitcoin economics" claim. The "Grin with Bitcoin economics" claim is false and misleading. Bitgrin has 21m coins and Bitcoin has 21m coins but coin count is not "economics." Bitgrin has a large premine that's released by smart contract at 20k each month, and during each of the first four years the premine represents 10.93% of the total (it averages to 4% over total, e.g., by year 2050). That's Bitgrin economics, not Bitcoin economics.
5. Premine accounting. With a high premine of nearly 11% per year (during first four years) an accounting is required. The devs recently put out an accounting, sort of, for the first few months --- but it just basically said "we spent it all on exchanges and mining reimbursements." Even though devs could just say anything, a more credible and transparent accounting will be required to build faith.
Project needs:
- Wallet: A functioning wallet but in the meantime, a detailed step-by-step guide on how to send/receive XBG using port forwarding and VPNs (with current wallet).
- Listing plan: Project should openly track online where it is applying to be listed and have a channel for community members to support. Project appears to be constantly fighting with exchanges -- find someone to drive this, not the devs.
- Bitcoin economics: stop that bs claim, it's false. 21m coins isn't Bitcoin economics, it's 21m coins. The "economics" includes overhead and Bitcoin had no premine.
- Premine accounting: To gain credibility, project needs to provide credible, transparent, ongoing descriptions of premine spending plan w/ actuals spending, presented in a credible way.
Also, the project needs to stop making enemies, unnecessarily, of its community members.