Mistakes developers keeps making | Bitcointalksearch.org

wxa7115

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Quote from: RealMalatesta on November 08, 2019, 02:14:17 PM

Quote from: wxa7115 on November 07, 2019, 01:28:00 PM

I am not so sure about this, it is true there are many amateur developers that think they can make a name for themselves in this industry and they have no experience or the capability to do anything of what they want, but they are a minority to me, most of those that are releasing their coins know very well all of this and they do not care because that was never their purpose, their real purpose is to enrich themselves by abusing the trust of their investors.

And when we consider all of this is not really surprising that investors have lost all confidence in icos as they know the chances they find a decent project are almost zero.

There is every need now to try and eliminate many of these premature developers from the ICO sphere because they will eventually kill the ICO completely if we don’t take care except maybe we ourselves don’t care much about the ICO again, which I know and believe that many hunters would do everything possible to make sure that it is revived again because this is the place that many of them have really made so much money and they have made lots of investment in bitcoin.

I remember that when I first got introduced to cryptocurrency, I did not have money to actually buy bitcoin, so what I did was to do some ICO projects for a while now, and then use the money to invest in bitcoin, but that was when ICO was still paying very much.

But that is the thing, you cannot eliminate those developers from the market, anyone no matter where you are or what is your level of experience or talent can create their own cryptocurrency, this allows a great amount of freedom in this market but it also allows many scammers and inexperienced developers to try their luck and try to deceive investors to invest in their project knowing full well they will never fulfil their promises.

In my mind this means that the ico market will never recover, we will see some good projects from time to time but the success stories will become more uncommon as time passes.

Patrix_1

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If a team member does not pay attention to any of those aspects, you can consider the project as a dead one. Almost all of them are forgetting about the second and the third one that is literally killing the project from the very beginning.

Mianae

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Bad exchange is always the first undoing of any project especially when there have been promises of top 5 exchange. Projects should save money especially those who raised huge sum during ICOs for reputable exchange listing at first other smaller exchanges cn follow suit.

desticy

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www.cd3d.app

I think one of the main mistakes of developers is not always the correct distribution of funds within the company.
Often the team and advisors receive too much allocation, while these coins are not always blocked. This gives the team and partners advantages over investors and bounty hunters.
But if the coins are locked, this affects the tokenomics of the project in a good way.

Youghoor

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Quote from: joseyphil82 on September 28, 2019, 08:00:11 AM

The biggest mistakes developers make that leads to bad ending for many projects are

1. Huge Discounts
Many new projects are still making this mistake over and over again, huge discounts like 50% is insane and it always bother me how the hell the early buyers won't end up dumping since they have already see big profits.

2. Lack Of Solid Products and Ideas
Lack of working products and real use cases is why many investors are not taking new projects very seriously, no one would want to hold such tokens or coins for long, developers need to start working on how their project's token or coin will be very demanding throughout the globe

Personally, I think these are the real and main reasons and mistakes project developers and managers make that cause the downfall of most crypto projects. Giving investors a huge amount of tokens causes the potential of the token to lose its value on the crypto market leading to low volume and market cap. Developers most times do not really plan to develop products or projects that solve real problems in either the crypto ecosystem or the entire financial ecosystem.

ahmia39

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Quote from: vanya.pronin.1983 on November 06, 2019, 02:10:41 PM

All of those factors are playing a massive role in projects success. Without good product, it is impossible to achieve a solid trading volume and a bad exchange listing can kill every project and it would never recover.

Right, because many projects have died without a product, even though they have been listed in exchange, if this happens it will be very difficult for the project team to rebuild the project they have managed.

mickey_miner

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Quote from: joseyphil82 on September 28, 2019, 08:00:11 AM

The biggest mistakes developers make that leads to bad ending for many projects are

1. Huge Discounts
Many new projects are still making this mistake over and over again, huge discounts like 50% is insane and it always bother me how the hell the early buyers won't end up dumping since they have already see big profits.

2. Lack Of Solid Products and Ideas
Lack of working products and real use cases is why many investors are not taking new projects very seriously, no one would want to hold such tokens or coins for long, developers need to start working on how their project's token or coin will be very demanding throughout the globe

3. Bad Exchanges
Imagine new projects that make over millions of dollars in ico or ieo and end up listing on bad exchanges with no enough volume, what do they expect to happen?

There is one more mistake
The right choice partner. Many choose poor partners and over time, due to the fact that people can’t agree, the project is falling apart.

princeyeboah

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Quote from: biddicoin on November 03, 2019, 09:03:21 PM

the biggest dev mistake is they wanna take money from investors then they dissapear, that's all

they make huge discount to attract many investors to get money. lack of product because they dont make it serious. bad exchange to reduce their spending

those are the most projects we can see right now, most of them is a sh*t

People who collect funds from investors and run away with it are classified as scammers not developers because they never had any project under development. Such a situation is not a mistake but a planned scam. All of such acts must be reported on the scam-accusation section on the forum to alert fellow investors here to stay alert.

cahbagus555

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Quote from: joseyphil82 on September 28, 2019, 08:00:11 AM

The biggest mistakes developers make that leads to bad ending for many projects are

1. Huge Discounts
Many new projects are still making this mistake over and over again, huge discounts like 50% is insane and it always bother me how the hell the early buyers won't end up dumping since they have already see big profits.

2. Lack Of Solid Products and Ideas
Lack of working products and real use cases is why many investors are not taking new projects very seriously, no one would want to hold such tokens or coins for long, developers need to start working on how their project's token or coin will be very demanding throughout the globe

3. Bad Exchanges
Imagine new projects that make over millions of dollars in ico or ieo and end up listing on bad exchanges with no enough volume, what do they expect to happen?

Discounts may not be a mistake because this is one strategy in attracting investor interest. In my opinion, the fault of the developer team is the lack of dedication to develop projects in accordance with the target roadmap so that investor confidence falls.

rdewilde

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Quote from: joseyphil82 on September 28, 2019, 08:00:11 AM

The biggest mistakes developers make that leads to bad ending for many projects are

1. Huge Discounts
Many new projects are still making this mistake over and over again, huge discounts like 50% is insane and it always bother me how the hell the early buyers won't end up dumping since they have already see big profits.

2. Lack Of Solid Products and Ideas
Lack of working products and real use cases is why many investors are not taking new projects very seriously, no one would want to hold such tokens or coins for long, developers need to start working on how their project's token or coin will be very demanding throughout the globe

3. Bad Exchanges
Imagine new projects that make over millions of dollars in ico or ieo and end up listing on bad exchanges with no enough volume, what do they expect to happen?

There is no better truth than all you just pointed out. Most projects thinks it's by giving huge discounts or bonuses will they be able to attract investors but it always has a negative effect on the price of the coin thereafter. Also, most projects doesn't last long or even for a reasonable amount of time owing to lack of ideas to keep driving the platform; in the same way, some projects are just a copy of already existing projects, therefore failing as well. Bad exchanges also contributes which is sometimes as a result of the team trying to enrich themselves although there can be other reasons too.

oktana

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Quote from: makishart on November 08, 2019, 06:39:42 PM

What about the million dollars as a fees that already implemented in some major exchange sites? It's a big problem for the new platform to paid million dollars worth of money. Some coins were having fully working product can't even listed its token to the big exchange site caused by this problem. More money and highest priority.
This is a difficult situation when some things are getting contradicted one to each other.

They must be better prepared with the next aspect of marketing if they believe in the project. must offer proposals to several partner companies to get quality supporters and divide them into reasonable stock incentives, indirectly their quality must also be seen in actively managing cooperation and not just relying on regular investors, prospective projects without the maturity of additional activities the same as projects that do not have an adequate economic foundation for the long term.

makishart

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Quote from: Plinteng on November 08, 2019, 03:48:19 PM

yes, some of the points you stated are true and real. I will only respond to the third point that bad exchanges or shady exchanges. if the project is truly valid and the team is serious in developing its products they will not register their tokens in shady exchanges, on the one hand traders will not want to use coins that do not have increased trading volumes.

What about the million dollars as a fees that already implemented in some major exchange sites? It's a big problem for the new platform to paid million dollars worth of money. Some coins were having fully working product can't even listed its token to the big exchange site caused by this problem. More money and highest priority.
This is a difficult situation when some things are getting contradicted one to each other.

Plinteng

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yes, some of the points you stated are true and real. I will only respond to the third point that bad exchanges or shady exchanges. if the project is truly valid and the team is serious in developing its products they will not register their tokens in shady exchanges, on the one hand traders will not want to use coins that do not have increased trading volumes.

RealMalatesta

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Quote from: wxa7115 on November 07, 2019, 01:28:00 PM

I am not so sure about this, it is true there are many amateur developers that think they can make a name for themselves in this industry and they have no experience or the capability to do anything of what they want, but they are a minority to me, most of those that are releasing their coins know very well all of this and they do not care because that was never their purpose, their real purpose is to enrich themselves by abusing the trust of their investors.

And when we consider all of this is not really surprising that investors have lost all confidence in icos as they know the chances they find a decent project are almost zero.

There is every need now to try and eliminate many of these premature developers from the ICO sphere because they will eventually kill the ICO completely if we don’t take care except maybe we ourselves don’t care much about the ICO again, which I know and believe that many hunters would do everything possible to make sure that it is revived again because this is the place that many of them have really made so much money and they have made lots of investment in bitcoin.

I remember that when I first got introduced to cryptocurrency, I did not have money to actually buy bitcoin, so what I did was to do some ICO projects for a while now, and then use the money to invest in bitcoin, but that was when ICO was still paying very much.

Landak

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Quote from: wxa7115 on November 07, 2019, 01:28:00 PM

I am not so sure about this, it is true there are many amateur developers that think they can make a name for themselves in this industry and they have no experience or the capability to do anything of what they want, but they are a minority to me, most of those that are releasing their coins know very well all of this and they do not care because that was never their purpose, their real purpose is to enrich themselves by abusing the trust of their investors.

And when we consider all of this is not really surprising that investors have lost all confidence in icos as they know the chances they find a decent project are almost zero.

It could be that the developers now are ordinary people like us or he used to be a bounty hunter and over time he began to understand how to "create tokens based eth" and start learning make sweet promises.
after that, a new project emerged and he (as developer) seemed like someone who was already very skilled whereas actually he was not good at it. (a fraud project began)
let's say with a 50% discount promotion when the IEO period is successful after that start to listing on an unfamiliar exchange market (small market). after that the devs don't care anymore aka run away what the money.
as you said, the goal is to enrich himself.
therefore many people have lost their sense of "investing" in current projects.

Palider

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Quote from: joseyphil82 on September 28, 2019, 08:00:11 AM

The biggest mistakes developers make that leads to bad ending for many projects are

1. Huge Discounts
Many new projects are still making this mistake over and over again, huge discounts like 50% is insane and it always bother me how the hell the early buyers won't end up dumping since they have already see big profits.

2. Lack Of Solid Products and Ideas
Lack of working products and real use cases is why many investors are not taking new projects very seriously, no one would want to hold such tokens or coins for long, developers need to start working on how their project's token or coin will be very demanding throughout the globe

3. Bad Exchanges
Imagine new projects that make over millions of dollars in ico or ieo and end up listing on bad exchanges with no enough volume, what do they expect to happen?

4). Bounty Payment in Weekly. (Altcoin)

They pay bounty hunters immediately, which is not a good idea as bounty hunters can sell them at cheaper price on decentralized exchange like forkdelta and etherdelta.

5) Not implementing KYC.

Because it could be the entrance to fraud. Many bounty hunters are looking for bigger tokens so they are making way to make more money and one of them is to sign up for multiple accounts.

wxa7115

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Quote from: Brunus on November 03, 2019, 06:40:19 PM

Very true, but they are only part of the errors. Because we must add bad management, lack of clarity in communication, disorganization, failure to meet commitments, and so on.
I think that most projects have not failed because of dishonesty, but due to incapacity.

I am not so sure about this, it is true there are many amateur developers that think they can make a name for themselves in this industry and they have no experience or the capability to do anything of what they want, but they are a minority to me, most of those that are releasing their coins know very well all of this and they do not care because that was never their purpose, their real purpose is to enrich themselves by abusing the trust of their investors.

And when we consider all of this is not really surprising that investors have lost all confidence in icos as they know the chances they find a decent project are almost zero.

vanya.pronin.1983

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All of those factors are playing a massive role in projects success. Without good product, it is impossible to achieve a solid trading volume and a bad exchange listing can kill every project and it would never recover.

Fappanu

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There are many other mistakes such as the early token they give to bounty hunters even though they are not yet have exchanged. So they are also dump the price of the token into decentralized exchanges such as forkdelta. Thus, they may still have a token sale due to lack of funds and buyer are fewers as their token sales are cheaper on decentralized exchange.

ShettyFive

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1, Big discount
I think they reduce 50% so they attract more investors and take advantage to develop.
2, Lack of solid products and ideas
Often new projects will learn from the way a successful project works, currently there are few projects that have new, innovative ideas. You cannot ask much Roll Eyes

Topic: Mistakes developers keeps making (Read 894 times)