Topic: [ANN] SMAC - Accounts have been suspended project closed - page 4. (Read 65854 times)

Nobody is buying...

Looks like this is really over in a few days.
Zero volume with a delisting warning....

Smac-Team still here of did they really leave the project.

Hope they get a word out soon....

Since the devs don't even have the decency to show their faces here it might be useful for us to discuss amongst ourselves some solutions to the current issues. 

Someone suggested a community takeover previously - I'm not sure how that would work given the inability to access the developers.  Perhaps the source code could be used to create a new fork?  Unfortunately I don't have the coding knowledge or expertise to know how viable this would be. 

Obviously a community takeover would mean a separation from any revenue derived from the Social Media accounts that the devs control.  I suppose this illustrates the problems of centralised control pretty well.  With delisting imminent and the ever shrinking buy back revenue that was being provided it was ultimately useless (no volume=no exchange=no buyback) - which had been one of the reasons people such as myself kept pushing the agenda of doing something to increase volume.

A takeover would need to address the question of utility, volume and ultimately if there would be any actual point in doing this.  The social media advertising idea still has some merit and could still work but could it be reintegrated or incorporated in some way with a post community takeover coin?  For one thing I think it would be best to rebrand to a new name like SMART - Social Media Advertising and Related Technologies - it would help differentiate the new coin.  (I'll refer to the takeover coin as SMART to avoid confusion.)

As for other changes one idea I have is of integrating advertising into the wallet clients, including a new mobile wallet (once developed).  Though this would be accessing a niche audience as a target (i.e. those who are interested in or hold cryptocurrencies) for certain types of advertising (e.g. tech related) it might actually be quite valuable to the right companies. 

The mobile wallet would require new development and would be a combined wallet for Bitcoin (and perhaps Litecoin) as well as SMART, with the aim of getting non-SMART users using it for their mobile BTC transactions.  This would both grow the audience for advertising too as well as creating free advertising for SMART.  Obviously in order to do this the wallet would need to be as good if not better than the current mobile solutions for Bitcoin - not an easy task (perhaps not even possible). Eventually the wallet could grow to incorporate the top 10 (or however many you want) cryptocurrencies.

Furthermore I would suggest using advertising revenues to fund development of SMART and the multi-mobile wallet rather than buying back coins or burning them.  Instead volume could be created by allowing advertisers to buy ads at a discount using SMART.  I would also suggest looking into integration with SHAPESHIFT.io as a matter of urgency once volume is re-established.

Anyway these are just suggestions and may be limited by my lack of knowledge so I would love to hear what others think and what other or alternative suggestions they may have.

No surprise (of course) but the delisting threat has returned and no surprise the devs continue to be AWOL.

I think you're right but the spineless way they have behaved is just as bad as perpetrating a scam. 

There were many of us here who were willing to work with the devs to come up with ideas and find ways to take this forward - you were one of the most active people on here.  Unfortunately they were initially too arrogant to admit there was a problem and then after a while they just chose to go off and ignore us as if the problem would just go away. 

We invested in this in good faith - I can accept a coin failing if the devs have tried all they can to succeed.  It is much harder to accept failure on the basis of the developers neglect, aloofness and general unwillingness to communicate.  They have essentially run their own ship aground when this could easily have been turned around with community help. 

Clearly they view those of us who supported this with utter contempt.  The fact that they don't even have the balls to come on here and admit their failure makes my blood boil and is proof of this.  They haven't mad a single attempt to reassure people or stem the tide of fear and uncertainty here.

If they had any kind of decency they would use the ICO funds to put up a buy wall at the ICO price so that all the people that they betrayed can at least get some of their BTC back.

Their reputations are trash now and I sincerely hope people take this as a lesson to never invest in anything that these people do again.  Is there a BCT thread with a list of untrustworthy developers? If not there should be and they should be on there.

I still believe that the devs had good intentions, but in the end I'm pretty sure the issue was that they just couldn't figure out a way to get volume to SMAC.

That being the case, I wish they could have just communicated that and maybe we all could have brainstormed together about how to get volume to this coin. Instead they chose to essentially disappear and ignore all questions on the forum and all PMs. Now look where that got them.

Wtf was I thinking when I invested around 10 btc in this??

Shame on ME!!!

Until now it was "only" ignoring (reasonable) questions.

Now those questions get also deleted from the thread?

Great work....

No it was actually 0.93 BTC.

so buyback just 1 BTC ??

Don't bother waiting for the devs to answer - they don't give a fuck.  If it happens should be the last day of the month i.e. 31st July but don't bet on it - the last one was delayed for no obvious reason.  Given the downward creep I wouldn't expect more than 0.2BTC even if it does happen so it's pretty much irrelevant anyway.

When is the next buyback?

Looks like we've all learnt a lesson here.  It's almost comical that the dev came on to ask why everyone was freaking out - whilst answering none of the previous questions or concerns.  Well let's hope others have learnt from this too and will not invest in anything that these jokers do again.

Hi guys, I'm back!

So... it seems like smac went south?

SMAC = SCAM

HAHAHAHAHAHAHAHA!

Looks like #1 ain't gonna happen (here we go again with the silent treatment that we have all come to expect   )

Lesson to all.....don't invest more than 1 or 2 btc in ICO's because you risk losing a LOT of money!

Actually that was advice to myself  

I am equal parts   and   at the moment

In addition to answering my questions listed above here are some suggestions for getting this back on track:

1) Regular communication and updates.
2) More transparency on the revenues for buybacks, with proof of purchasing and evidence of burned coins - for example with the burn wallet being held by a trusted third party such as Bittrex who can give independent confirmation.
3) 100% of the revenues to be used for buybacks until (at the very least) SMAC has sustained volume of over 0.2 BTC per day and is above the ICO price.
4) Some realistic dates for the market being ready.
5) More details on exactly how the Social Media Advertising component is being run to allow some community brainstorming on ways to make it more effective.
6) Some realistic plans on increasing long term volume for SMAC including use cases/utility - this can involve community discussion/suggestions if the dev team are out of ideas.

I'm pissed off at the lack of communication or direct answers to the majority of mine and others' previous questions e.g. about the shrinking buybacks/lack of volume/poor promotion etc.  The fact that you are now acting like this is surprising is in itself rather worrying particularly as these questions and concerns have been voiced multiple times without being properly addressed.

I see now that you are referring to the marketplace and forum as the same thing so it is not surprising that people are confused.  Even when the market is finished (assuming it gets finished) what will be done to increase volume?

The simple fact remains for a coin based on marketing there has been a remarkable absence, inability or perhaps unwillingness to market SMAC itself.  Few know it exists and many of those that do have lost faith in the team to the point of selling at significant loss.

BTW I have not sold any coins either but the recent dumping proves my point about investor confidence.  Most people will silently dump rather than posting on here particularly if they see that the devs don't seem to care.  Given previous experience of what that means in the alt scene most people will assume the worst and attempt to recover whatever BTC they can rather than lose it all.

Im still holding and not freaking out, continue on, patience pays.

I am not quite sure why you all are freaking out we have done everything we have promised thus far we have not sold ANY OF OUR COINS and continue to execute the back buys every month AS PROMISED. The forum/marketplace is still under development as stated in the  last newsletter...

At least some of these coins were not theirs, I sold a few k I bought for half @ earlier dumps.

You guys were told with plenty time, I don't understand the "surprise"... When you have been adequately warned, and you insist on being taken, well...

seems like we are all REKT.

just executing buy back without any proof of not buying your own coins doesn't make it better. c'mon boxxa show us that you have some balls and stand up and give us a response.