Topic: GRAFT Letter to the Community. WTF!? (Read 219 times)

I don't understand this project, they ran out of money, but they still are working and also they ask for help from the community for ideas, not money, I just don't get it... Because of all these kind of projects, I'm focusing my time in an exchange called mintMe which has an egalitarian crowdfunding idea related to gain while you support others, mintMe represents a really revolutionizing idea!

Once upon a time i used to belief that GRAFT coin will be as strong as Havven or lokki coins, i mined some graft coins when its mining difficulty was very low at that time but now i am in total loss because i am still holding on to my coins thinking that its good for long term hodl

It is a crystal clear that the project was wasted.
First, banning you without a valid reason.
Second, after the fund was collected. They will announce that the project is not doing well and the fund was dried up. Meaning, the project will not continue anymore due to lack of fund.

The only way to reach them up is via their telegram which i highly doubt they will entertain such complaints. A legit project will give assurance to the team about the project's success steps and not the other way around.

Was there anything else to expect from the project other than a dump? From the very beginning everything went to this, the scheme of scaming is quite unveiled.

How could this be working? Announcement about what? That their funds dried up?

Surely pump and dump.

The Bitcointalk thread is shut down. How are they going to make announcements? Only for the chosen ones on Telegram?

The Letter to the Community is not available anymore.

The only way to get to them is via Telegram where they rule.

And of course you can donate - they are always open for donation.

It looks like this letter might have worked for them. At least they are sticking around and trying to make things happen.
GRFT is up 250% since the announcement.

They sound like one of the many newbies who bought in fomo and then got rekt from the long bear market. Their maiin problem I think is that they didn't have a complete team. They are probably great developers but they don't have someone who is good at marketing (which they openly admitted in the letter) and also someone who is good at managing their funds.

How much did they raise from the token sale? They probably paid too much for advisors also.

This is good



Blame it all on bitcointalk staff when you could make the thread self moderated but chose not to


So that you can no longer complain and ask difficult questions.

Where we can delete your posts and ban you with ease.

Although it sounds funny but this is really serious; I asked myself this question, how can the funds dry up? What were they running with it. Then I got my answer when the team said "they spent 6 months" looking for solution; that means they were clueless and this project seems to be clearly based on hype. I think investors in this project should count their losses and move on, because as it stands a project won't drop from 10 core developers to 2 and still run as if it were the old times; not as if they have any other thing to offer.

I still vividly remember this project in 2017, so much hype in it until some issues came up as well regarding it's bounty and the project itself.

And I was quite surprised to see the project still running up to this day. But just like the rest of them, some die, some survived but having trouble like like the case of Graft today.

Just to be fair, there's a lot of projects going this route, investors pulling out, money is draining. So I really don't know how can this project continue unless someone give them money to continue. With that said, it's time for them to stop, no point in continuing when there is no direction.

So they are trying to give people this useless excuse that fund dried up? who will believe that? GRAFT project has cool idea backing it up but not the team, i'm glad i dump my coins when i could if not i will be regretting now, this issue of fund getting dried up seem to be the newest trick, miracle tele did the same thing

Graft and corruption. It's as if the coin's name was not warning enough.

Ouch. Reading this bit of news must really hurt for all graft investors. Sadly, this seems to be the state of altcoins at the moment. ICOs collect money, then exit slowly. So many people are being turned off about crypto this way. Hopefully people are more aware this time around and stop investing in things they do not understand.

That is not good, i was believing that GRAFT coin will be success in the future.
They should using the money they raised very careful and efficient to keep developing their project.
If the raised funds already empty, then it is their responsibility because they are the one who used it.

This is funny and sad at thesame.
GRAFT isn't the only project that is going through this challenge. The problem was mostly caused by one of the worst bear market in the history of cryptocurrency.
Developers should consider using most part of the raised funds for just project development while they use a seperate & sustainable source of funds to pay themselves salaries. Salaries shouldn't take a large chunk of raised funds. Developers can even volunteer . I also believe if the project is great, viable and transparent they will attract adequate funding

So they finally banned any discussions here thus admitting they cannot handle it efficiently.

https://bitcointalk.org/index.php?topic=2115188.2420

Just go to their Telegram channel where they can again ban you any moment. And also made a safe ground for themselves.

Their Letter makes me laugh and sizzle with anger:

"As funds dried up, so did the development" - say what? After that plundering ICO they say the funds dried up!?

"From 10+ core developers and multiple contractors at the peak, we now only have 2 core developers and several part-time contractors" - that's where the funds went.

"We spent the last 6 months trying to find a solution. We contemplated shutting down many times, but it would be a shame to have all this work go to waste" - yeah, why shut down, when they can grab the rest of the funds.

"We started looking for people who would breath new life into our project" - Basically helpless and looking for solutions to grab more money.

"With that in mind we decided to NOT give up" - Oh, thank you, that's so noble! Especially after all the funds and time wasted!

"We really need your help. We are not looking for money, just your constructive advice" - They put this emphasis on "not looking for money" cause that's the only thing they had in mind before.

"Dear Community, please put yourselves in our shoes, and help us find a way forward" - Why don't THEY PUT THEMSELVES IN OUR SHOES after all the ICO and mining wasted.

The main point of their message is clear:

"We don't know what to do, please help us. Not with your money, but your help. But money would be nice, cause we spent it all"

This is just degrading.