I'll speak for myself
I don't think it helps to put anybody into a corner here. People are eager and excited about the project.. there is obviously some profit motive and that's perfectly healthy. It has only been 5 days.. no need for big sticks. Reasonably it took several months to get about 750 holders. I wouldn't expect more than a few transactions on any exchange per day at this time. This could be quite different by the end of the year, and into early next.
From an ICO holder perspective..
A. I can understand the importance of adding the short term ability to exchange tokens so the market can do what it wants to do. The market size is going to be small, and without information from (C) it's going to be even smaller and nearly impossible to value.
B. Approximate target timelines would be helpful and ideally could be communicated somewhere public for prospective FYP holders that did not participate in the ICO. Having this sooner than later would be useful, i.e. when do you expect exchange users to receive FYP tokens?
C. It would be helpful to have daily coin volumes public on the website sooner than later. I wouldn't expect these numbers to be huge yet. That would be insanely unrealistic. We can see that ShapeShift exchanges between 1500 and 2000 BTC equivalent daily and growing.. or about $10M USD/day. That's after significant development, marketing, and backing. The team has this information I'm sure, and it would not be difficult to add it to the website..
Given these three things, I think the market will have all the information it needs and the team can take the time they need to do what they need to do (without being unreasonably hassled). Without that, FYP tokens have no value and the game is over.
It makes sense to me that in the short term as was disclosed the team takes the lead on decision making, and especially if the soft cap was not reached which it wasn't. This was all disclosed. The ICO valuation seemed reasonable. They raised about $1 million, actually. Over time it should be exciting to see how things develop, and how voting works.
The exchange is working great, I use it myself.
Good luck to the team, and thank you.
Agree with most (except the voting. Sorry, seeing bad planning or crap decision making already), however 5 days without an exchange...and getting cancerous Ether Delta as the stop gap solution...unacceptable and I have never seen such a thing in any ICOs before. You really had no exchanges lined up? Still don’t?
Is that bad planning or crap decision making?
Devs repeatedly claim the exchange is up and functioning. They didn’t think of getting the technical stuff ready for their own coin to trade on their own exchange on day 1? Bad planning? Crap decision making?
This is some bad planning. Or bad decision making.
Not really psyched about these kids making decisions by themselves after this very uncommunicative, uneventful week. They need some grown-up supervision. And help with the Soviet-toned communication.
It doesn’t matter how many trades there are, we simply need price discovery to happen properly. As of now, 0 real trades. I woke up this morning 2 million fake dollars richer—�thus Blockfolio has been rendered useless for the time the silly Prices for $1000 of volume of IOUs on HitsBTC is the only price source.
How annoying, you broke my portfolio tracker with...bad planning? Crap decision making? Inability to negotiate an exchange deal? Something. It has knock-on effects, what you do and don’t do, kids. You broke the portfolio trackers of everyone watching your token. Because shit information coming through: the price of an illiquid IOU...
Failure to promptly accomplish this obvious, first, simple step for any Initial offering...providing liquidity and price discovery has shaken my confidence in the team’s ability to deliver.
No exchanges after 5 days is a fuck up.
I am cutting back my position over the next days and weeks as volume permits a bit until I see some goddamned follow through.
Since voting means fuck all, don’t care about the voting. Would not want to upset the Fuhrer with knowledge or experience.
I would be firing and replacing people at this point.
I’d consider selling it all and be done with it...but there is no market almost a week in...
