Topic: [ANN] ColossusXT (COLX) Private| Sustainable| Grid Computing - Mandatory Update - page 68. (Read 149122 times)

I used my judgement. COLX looks like a pyramid scheme to me. I am dumping. There is a special place in hell for scammers like Pete. I had faith in this currency's eco-friendly ideas and I am extremely disappointed in the devteam for not trying harder to make something of this coin. Needless to say I lost a lot of hard-earned money on this train wreck. Good luck to all.

Thanks for your feedback and yes valid points... I was looking at it mainly from an ICO perspective... and the more boxes to tick the better agreed... I'm just a free agent and investor like yourself and have never communicated with the COLX team... We could easily get one professionally written if we knew what they wanted to put in it...    

 

Hey Pete!

 Because a good whitepaper attracts investors, whether it makes sense or not. I belong to many crypto groups with thousands of members, and something many many people look for when judging a project and its team is its whitepaper. Its a marker (one of many) that is used to help separate shitcoins from legitimate projects. So while it may not be essential or even relevant to the here and now while pertaining to colx, the fact remains that a poor whitepaper or a non existent one puts off potential investors, whether it makes sense or not. And that means not having one, affects us.  

That being said, I would be able to overlook not having a whitepaper a million times over if there was more communication, involvement and organization from the development team. I would say not having a whitepaper is one of the lesser problems, but its important to note, because so many people care about it and a quality whitepaper is a box to check for almost everyone I know. Theres a reason the colx team is spending valuable man hours in writing, editing, re-editing, ect the whitepaper, and posting updates on its release.

I sure hope so Pete. One thing I would ask people is why are they so sure people are dumping COLX because of colx related issues and not simply because the market in general is correcting. Then again I suppose if that was the case colx wouldnt be dropping at a worse ratio than the others (which it is)

I dont know.... Im stubborn, I like the coin, I will continue to hold for a little while longer at least.

Lets hope for the best.  

Hi there... just one question, I am very curious to know why you would like to see a white paper and what difference it will really make to your life and/or your decision to hold on to your COLX or not..?

Sorry, but it amuses me greatly people asking for a white paper... as already itterated here many times, white papers are for ICO Coins when they have nothing but an idea and the white paper is like the projected forcast of their business plan of what they are going to do once they have raised the money to put their idea into practice and make their coin... It's just a fund-raising prospectus...

COLX is already miles ahead of that stage with no ICO and no funding... And a fully functioning and working coin...  They have done it completely on their own... So, I for one, take my hat of to them... and I am delighted to be on this very exciting journey now; regardless of whether they have any white papers or not...

Good luck with your holdings and I'm certain in the future you'll be very glad that you held on to your COLX!  
 
 

Damn.

   I think you pretty much just sold me on selling my colx. Which sucks.... because I really wanted to believe in the project, and yes, I have a lot of colx (by my standards) and was looking forward to hopefully at least getting to .03 cents.


    In the last few weeks I have slowly been fighting my suspicions that colx was headed for a fall and wanted to believe it was a legit coin in the making. But seeing the lack of communication from the 'team', seeing that the people working on it are already pretty busy with their personal day jobs (understandable, but not reassuring), the lack of ambition and initiative by the 'team' to organize this community to make shit happen.... along with everything else you just posted.... I feel I can no longer ignore it.


And it sucks, lol. I have enough colx that if it just goes to a couple cents I would be doing well.... and selling now will hurt considering where we were at a few weeks back.


My only remaining hope right now, is that while Im sure colx is down quite a bit due to people selling for these reasons, I also assume its down because the market in general is down right now. We have to take that into consideration. So I keep asking myself, should I sell now and take the pain, or just hold on a bit longer until it does hit cryptopia, release the whitepaper, and hope for one last little pump to sell, but by doing so pretty much risk the price dropping further with no pump happening at all.


The thing is, its not all about the money with me. If I saw a team that was in the trenches, doing things the right way, I would stick with the coin.... but I dont see that, and to me a good team is a very crucial component. I want to add that I appreciate what the team has accomplished thus far and I commend their efforts in the face of having full time jobs and whatnot, but that doesnt erase all the fumbling and missed opportunities and potential.




Damn. I will continue to hold, for now. Guess Ill wait for cryptopia and the whitepaper. I really, really hope I dont regret it.

Damn. I will continue to hold, for now. Guess Ill wait for cryptopia and the whitepaper. I really, really hope I dont regret it.

A lot of flooding going on by the old Pete and his peeps to try and bury the links I posted while at the same time bumping the thread.

This is not FUD, these are facts.

This coin will not be going anywhere for one simple reason: The people managing it are simply clueless.

1. The guy writing the white paper.... His name is Adeel 'Akhi' Anwar. "Great Mama" on Telegram. He has 0 technical knowledge, no credentials whatsoever.  The only reason he was chosen to write the whitepaper is that he offered to help and because he has a couple of masternodes that he bought for cheap... That speaks wonders of the seriousness of this project. It's just a pump and dump scheme. Smart people are already leaving. See here:

https://i.imgur.com/thSJwtq.jpg

2. The rest of the team is clueless and incompetent. Just a bunch of noobs trying to get rich. See here:

https://imgur.com/gallery/01Oru

https://imgur.com/a/Wqayb

TLDR from imgur: "wow guys, turns out organizing a team without a manager is really hard!"

3. Price dropped because people are dumping the project, including myself. We went from no max coin supply to unlimited coin supply. We went from 4bn coins in circulation to 10.5bn in circulation in less than a week. The official website is full of inaccuracies and no one bothers to fix them... It's either dishonesty or incompetence. Both are not ok.

4. No one wants to buy this coin. Volume is about $300k. Current price doesn't mean anything when there is only one or 2 orders buying at that price. When I sold my coins, I had to go as low as 70 sats. I started selling when it was at 116 sats. People are sitting on millions of worthless coins. That's why you see them losing it trying to shill the coin everywhere. They just want new suckers to come and bail them out.

https://i.imgur.com/OrrUEcs.jpg