Mistakes developers keeps making - page 3.

Fredomago

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Quote from: reality18 on October 14, 2019, 10:56:00 PM

Developers coming of late like repetition of already existing ideas on the crypto space. There is no uniqueness in such projects because the project offer the same product which delivers the same solution as an already existing project on the market is doing. There is no creativity and innovation and this normally leads such projects hanging.

And probably, the project is just there to scam investors. Those developers who keeps repeating existing ideas are only taking advantage of the situations, knowing that investors are lazy enough to listen with promises that too good to be true.

The concept and the usable offers is very needed when creating a project. If the team have new ideas and it is executable then expect that it will
receive attentions coming from idealistic investors and supporters.

cahbagus555

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Quote from: joseyphil82 on September 28, 2019, 07:00:11 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?

Of the three things, in my opinion a fatal mistake is to choose a small exchanger as a trading place. Small exchangers sometimes provide negative perceptions for investors because with funds raised, sometimes a project can be listed on large exchangers and those who already have a reputation.

Furryball

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Not all developers are making these mistakes, many developers willingly list on low exchange because they don't have the aim of better outcome for investors, they want money for themselves, listing on better exchanges is costly and they did have the fund, they know what they are doing, its a fact

Peashooter

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Quote from: BennyK on September 28, 2019, 09:22:37 AM

One of the frequently made mistakes by developers of a crypto project is poor team work. Although some projects have team members with great expertise in crypto, due to poor team work, these projects end up being unsuccessful. Projects like Libereum and Miracle TELE are classical examples. The downfall of these projects were due to the negligence and greediness of some members within the team.

The common and most frequent mistakes that the developers of the projects are being bad at the working with their colleagues in which they are lacking of the team work and effort so that their projects become not successful. Another factor is the GREEDINESS of the people behind the projects, because of the reason that they want to earn more they are lacking to take care and pay attention on their project because their mindset is just to earn and they forgot the importance of the project that they are making, this must been taking care of the developers and the managers.

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Quote from: joseyphil82 on September 28, 2019, 07:00:11 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?

It is true that you said, a large discount given to early buyers will make the project easily attract early buyers, but the question is whether it can make the project reach its softcap and hardcap. Then the product that is delivered is usually not attractive or will not be useful in the future so investors think that this project will be difficult to develop because it is not so useful in the future.

Xxmodded

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Many developers always make the same mistake with listing bad exchange, how many ICO failed after listing with bad exchange market and down to lower price because developers not listed with big exchange market, when listing in bad exchange market there are less investor and look ICO coin is not interested, but if coin ICO listed with big exchange market have many investor and they will buy ICO coin and make price grow up and ICO investor get profit.

Wawa2013

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Large bonuses to investors are legitimate because the developer wants to make investors not disappointed, but before giving a large bonus must be carefully considered because when a coin enters the exchange the coin will definitely dump, if so the developer must buy back coins to investors so that there is no dump for coins on the exchange, as well as coins owned by participants, there should be a buyback too, if you want to be really serious about the project. But I see only one or two projects that do this way

Stanlo

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Quote from: boltz on October 13, 2019, 04:38:42 PM

Honestly I browsed project for over 2 hours now and all I have found were dead projects , dead volume , non-name exchanges but guess what ? Team still asking for patience when they already took 99% from the investors money and I'm wonder , how they could have this attitude ?

They ask for patience when they have 10$ volume in 24 hours and when you ask about development they even ban you ( discord ) or simply they tell you to wait for the CORE Dev to answer which never comes. 2 Projects attract my attention more than others :

Rupaya ( which I think they pulled an exit-scam recently as 1 exchange deleted them and 2 have blocked their wallets as no one fix their wallets leaving the holders with worthless coins with not a chance to sell them anymore even at 99% loss )

Galactrum ( who left the project into the community hands because they no longer want to develop the project because they have NO FUNDS, yet they took so much money when the project was founded ~3 mil $ turned into dust in 1 year ). Both of the projects should be investigated in my opinion alongside with the hundreds of another ones ....

Be careful in what are you investing guys ...be very very careful. Wink

Any project that has only 10$ trading volume is a bad project, it means no one wants to buy the coin or token, it means the project has no real use case, scammers walk away for free in crypto space and all failed project gets to softcap at least and they vanish into thin air

reality18

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Developers coming of late like repetition of already existing ideas on the crypto space. There is no uniqueness in such projects because the project offer the same product which delivers the same solution as an already existing project on the market is doing. There is no creativity and innovation and this normally leads such projects hanging.

Aabcde

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Quote from: bitsurfer2014 on October 04, 2019, 11:16:56 AM

Quote from: Aabcde on October 04, 2019, 10:47:11 AM

Just an addition from my point of view, don't sell idea but sell the product. I mean don't open ICO when your idea still in the brain but open ICO when the product is ready or beta and you can think about next development after that. Because it give more trust to investor to keep their money to you. Investor need to know where their money will flow.

I think both of you has good arguments. Nevertheless, I would like to point out also the importance of having a product first before conducting an ICO and I guess most investors would prefer this kinds of project to invest with - (this is aptly called in crypto community as reverse ICO.)

Quote from: ned.ryerson on October 04, 2019, 11:02:31 AM

many teams simply cannot create a product without money, that is why they launch ICOs. but as a rule, they fail to raise money because investors are interested in products

This is in fact is true! Since most startup projects don't have the necessary funds to continue development so they in turn conduct an ICO to generate funds for its operation and without sufficient funds, most projects would collapse not even reaching midway in its development.

Yes, I understand that they need funds before making their products. But, there are also many projects that already have products before they launch ICO or funding. So in my opinion, it's just a matter of the seriousness of the developer, if they are serious about building startups, then there must be an effort and & results before people can believe that the product really exists and useful.

Genemind

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Giving discounts is their way to attract more investors and we can't blame them for that strategy. If more investors would take part in their project, they will still gain more than 50% profit. When it comes to exchanges, one of the major struggles of the most project is the high exchange fees that's why they end up with unpopular and untrusted exchanges. Most investors are looking for trusted exchange so it will really be a big deal.

htsy585

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Quote from: boltz on October 13, 2019, 04:38:42 PM

Honestly I browsed project for over 2 hours now and all I have found were dead projects , dead volume , non-name exchanges but guess what ? Team still asking for patience when they already took 99% from the investors money and I'm wonder , how they could have this attitude ?

They ask for patience when they have 10$ volume in 24 hours and when you ask about development they even ban you ( discord ) or simply they tell you to wait for the CORE Dev to answer which never comes. 2 Projects attract my attention more than others :

Rupaya ( which I think they pulled an exit-scam recently as 1 exchange deleted them and 2 have blocked their wallets as no one fix their wallets leaving the holders with worthless coins with not a chance to sell them anymore even at 99% loss )

Galactrum ( who left the project into the community hands because they no longer want to develop the project because they have NO FUNDS, yet they took so much money when the project was founded ~3 mil $ turned into dust in 1 year ). Both of the projects should be investigated in my opinion alongside with the hundreds of another ones ....

Be careful in what are you investing guys ...be very very careful. Wink

Unfortunately, this is the sorry state of the cryptocurrency space. Most of these developers are just in it to money grab. As a matter of fact, I advice friends to rather invest in old coins than new ones because good reputation can never be underemphasizd. Investing in new coins are very high risk choices that I may need 3 days of judicious and painstaking research before venturing into one

xiboothrezi

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Quote from: joseyphil82 on September 28, 2019, 07:00:11 AM

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

the most fatal mistake is the third point. I can not understand why many projects that end in shit exchange can not provide hope. At least by spending more funds for listing in a more compatible market, I don't think it's a problem, instead it can be a booster to increase the confidence of other investors in strengthening market capacity.

Quote from: stephanirain on October 14, 2019, 02:27:16 PM

Indeed, many developers are repeating the same mistakes and some of them do that in purpose just to earn money. There are devs that create projects that are meant to fail thus, also failing the goal of cryptocurrency. This has been observed too many times in 2018 that caused the downfall of the reputation of the altcoins.

So the goal is simply to collect money, there is no project development, and fundraising is only used to get maximum profit, blame the bad market conditions, there is no continuation until after a long time they disappear. Very ironic, so don't be easily fooled and love your money for safer investments at times like this.

Vitamin_52

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Quote from: 10c on October 14, 2019, 03:27:15 PM

Quote from: GREENch on October 14, 2019, 01:42:10 PM

Not know in as you, and me seems that TON is famously fits in this list of, at least in the first two points. If I'm not mistaken, by January 1, 2019, Telegram spent 218 million dollars on the development of its own blockchain. This is a fantastic amount, and the platform is still not launched.

if you will think that they raised $ 1.7 billion for their project then you will understand that the amount which they spent is very small.

now this amount is blocked by the SEC, so now it is foolish to speculate how much was spent on the development of the platform. now we have to wait for the funds to be returned and the product will work

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Quote from: GREENch on October 14, 2019, 01:42:10 PM

Not know in as you, and me seems that TON is famously fits in this list of, at least in the first two points. If I'm not mistaken, by January 1, 2019, Telegram spent 218 million dollars on the development of its own blockchain. This is a fantastic amount, and the platform is still not launched.

if you will think that they raised $ 1.7 billion for their project then you will understand that the amount which they spent is very small.

Pinkris128

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Quote from: joseyphil82 on September 28, 2019, 07:00:11 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?

It is really sad to see the unfortunate state of the "forgotten" projects and many new projects are joining them. It makes me wonder if the developers are doing this consciously. This might be their primary goal, just to get some money from their investors and letting the project fail in the end. They don't just keep making the same mistakes. This choose to keep doing it because they can earn when they've done it.

stephanirain

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Quote from: joseyphil82 on September 28, 2019, 07:00:11 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?

Indeed, many developers are repeating the same mistakes and some of them do that in purpose just to earn money. There are devs that create projects that are meant to fail thus, also failing the goal of cryptocurrency. This has been observed too many times in 2018 that caused the downfall of the reputation of the altcoins.

GREENch

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Not know in as you, and me seems that TON is famously fits in this list of, at least in the first two points. If I'm not mistaken, by January 1, 2019, Telegram spent 218 million dollars on the development of its own blockchain. This is a fantastic amount, and the platform is still not launched.

thesmallgod

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before, it was bounty hunters they are using as an excuse for running a fail project. They will always blame hunters that they are responsible for dumping the token thereby crashing the project. This falsed many of new project dev to believe in this fibble story and decide to be locking bounty hunters token and finally we all know that it is investors that they gave huge discounts dumping the token. Many of them are even scared of listing their token for years e.g buzzshow and when they list the token, they will end up listing it on Latoken Grin

skarais

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Quote from: Furryball on October 14, 2019, 11:37:59 AM

i don't care what developers of nowadays do with their projects if i am not satisfied with the features enough i will leave, we have gotten to the stage in crypto space where working product is a must for all projects, if your project is not seeing demands enough it will collapse

In fact, many people want their products to be more valuable. Not many people care about its development, but how do you do it without something developed by the team can affect the price of coins / tokens?
For me it is not possible, about what the team can develop with their coins/ tokens will be responded to by the reaction of prices on their coins/ tokens on the exchange. The better the development, the interest of coins/ tokens will increase.

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