Hi,
I hope I didn't get "swamped" by the LBRY diehard supporters for voicing my honest opinion about this Coin.
We no longer able to voice our opinions in the LBRY slack as things become pretty defensive. Only compliments are allowed now.
I've seen a few members with genuine discussion and some frustration as well. The rest just choose to be silent or gone.
The mods just ganged up and jumped on anyone who talk the harsh truth about the Coin. Assume criticisms is trolling.
Comments will be deleted and a fews of them are banned. Now only the newcomers and staffs in chat.
I've been following LBRY for close 6 months even before those diehard supporters become mods in slack.
I came to know LBRY from their listing on Exchanges and "indirect hypes" from the team member eventhough they repeatedly dismiss claims that they have no intention to "lure" people to get to know about LBRY through "any sort of hypes" tactics. Anyway the team has successful got many people's attention including me at that time. I went to their website and read everything. The information back then is not much packed compared to now. No one knew the total coin supply and a lot of specific information was reluctant to share out at that time. Anyway, I started to invest time and money as the idea and concept seems promising. The closed invitation is also one of their "marketing tricks" but never a problem if you aware about the GitHub. The constant of creating "perceptions" that you are missing out. The roadmap is not the roadmap you know like all other coins. More like devs journal. Moreover it's not an accurate info. The windows release is a joke. Just an update on twitter.
We never heard a clear message from the founders until recently that they have no intention to "protect" the coin value knowing the fact it reflects public confidence on that coin. They just let the "people expectations" lingers around. It's like "sure why not let this hypes draws more people into this coin and we can still say we did not hype, it was the traders fault". I only wished if only the CEO made the Acrytypical statement on day one instead after a lots old-time supporters got burned and lost money on it. Got "tricked" by the team keep telling us to hold on it. I doubt we can get back our funds at break-even considered most of us holding on from 65k,40k,25k sats. Funny though, when price hitting 6k, LBRY staffs in Slack still asked us to keep holding on it as in long run it can be beneficial. Until few days ago, the CEO made an official statement
https://lbry.io/news/acryptypical that they don't care about you and the people who bought into it because it's your own problem. They never force you to buy LBC. What can I say? I gave up and sold every LBC that I hold for past 5 months.
We know things take time to build the great platform/software, we also knew about the mining issues. We knew content creators might earn less because of great price fluctuations. We knew it and believe the team in long run. Most of us are not in for short term gains. However, as time goes by, we found out many things turned out to be far-fetched and mostly in theoretical "promises" and the team's eccentric ideology. Time to stop become a blind supporter. Plus, now there is competitors with big pocket from ICO funds like Maid, AMP and DCT gave opportunity for new users to pick which one is more rewarding for them to earn from using the platforms. It cost a lot of people hard-earned money to support the CEO imagination and philosophy. Don't get me wrong, he's a great guy. It's like placing a geek in the business world.
The statement made by CEO has clearly stated the price will continue to fall until next year, hopefully not until July 2017 as that's where the operation funds is over. If anyone still lost money after this CEO statement, then that's not their fault anymore as the CEO publically stated the price will plummets for many months to come. Many old-timers speculate the price will fall below 1000 sats. Some even said under 500 sats. Guess what? The team don't care. There will be always a new bagholder. There is a lot coins out there valued under 100 sats. None fall like LBC. Atleast we know where ZEC heading in the beginning.
With the 400 mil premined coins & 500k funds, the team has nothing to lose but time. Mods in Slack has nothing to lose as most of them are in mining. While others hoped to be part of Mods, possibly wishing the future rewards from the reserved coin reward allocation.
Not blaming anyone but myself. Just sharing my last 2 LBC rant, peace.