Mistakes developers keeps making - page 7.

akram143

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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?

The real problem is everyone trying to be a developer once they realized that crypto currency could gives lot of profits and the capital needed for is minimum to none to develop a project.

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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?

I don't think you can call Number on your list mistake, how can you compare VC and seed investors to retail investors. What they bring to the project most of the time is huge and they need to be well compensated for that, in terms of marketing and exposure to market VCs offer this, unlike retail investors that mostly care about profit and bring nothing most of the time to the table to add value to the project

bitsurfer2014

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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?

Glad you've pointed this out! Additionally, I would like also to emphasize one of the most important blunders that has been plaguing projects for a long time now and it is because they have poor financial planning! I think this is one of the main reasons why most projects had failed and this is evident when most projects suddenly went inactive even after they have gathered a sufficient amount of funding during their respective ICO's!

I've even heard some projects way back 2018 that went financially unstable because they were not able to diversify their funding source which is
mostly in BTC or ETH or haven't opted to exchange it to fiat and had incurred huge losses when crypto prices fell sharply especially when BTC sinks to less than $4k last December 2018. If only they had a sound financial planning, then we could have seen some promising projects which is still active up to this day!

crazy-pilot

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I think that in general you are right, but the discount system for the first investors is not a mistake. ICOs are feeling really bad right now. At the moment, investors are only interested in IEO from large exchanges with a good reputation.

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If you think about what the token value actually is, you will be surprised.
You need only two things: good exchange + good advisors. You don´t need product, own blcokchain, partnerships. You only need promises and those two things.

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Quote from: CLywaTeLb on September 28, 2019, 09:50:57 AM

Items 1 and 3 are secondary and do not have a big impact on the success of a crypto startup.
And the second paragraph is the problem of many startups. Or maybe not at all. According to the results of many projects, we see that the goal of creating all these projects is to rise money from gullible investors and gradually and imperceptibly disappear. Thus, everything is in order with the second paragraph, they achieve what they are striving for Grin

and what they are striving for is a lot of income with the revenue achieved, but the project developed does not have a clear goal. It's easy to get money by making a fake project with a big discount. But when a really good project doesn't even care. But now a really good project has begun to take part by entrusting it to IEO platforms on large exchanges such as Binance and many successful selling tokens with a span of seconds.

pixie85

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Their first and biggest mistake is trying to develop a project only with effort and ideas. This is good but won't get you anywhere. The most important part is having money and spending them on good advertising graphics exchange listings social media... You can't make a project succeed these days without investing time and money into it.

Miscalculating the amount of money you need is another problem. If you think you can launch a coin having an idea and 5 thousand dollars you're mistaken and it's going to be a disaster.

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Quote

Huge Discounts

Every good business offers huge discount even in the real business there is what we call "buy one get one free"

Quote

Lack Of Solid Products and Ideas

Most of them have MVP for their upcoming project.

Quote

Bad Exchanges

I do not see this as a mistake because a good project should be able to use part of the funds raised to pay for good exchange listing.

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

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.

It depends, if those buyers foresee a good future for the project and think they can earn more in the future, they will not sell their tokens even though they can take easy profits in the present.

wedosgibas

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here we go

Looks like this is not a mistake, but a bad strategy/ plan. First, they want to compete in the midst of this large market, thus making a slightly crazy promotion to get investors. Second, do not need to be discussed, because seeing the first point, the project does not have good demand, it also reflects the quality of its products. Third, looking at points 1 and 2, you should know, this project is bullshit.

BRODIN

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1. Huge Discounts

#discounts are only to attract market investment, this depends on how you observe projects that offer large discounts. be careful with tricks like that

2. Lack Of Solid Products and Ideas

#I have observed projects that have quality products but are difficult to develop, creative ideas but vice versa. this problem depends on market marketing.

3. Bad Exchanges

#that's their initial plan. in theory if the developer is really serious about developing their project, they will not register in the garbage exchange.

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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?

yes, all the conditions above is keep repeating for ICO project buddy

but now is the era of IEO and if a project conduct an IEO in a good exchange for example binance or kucoin,
i think the project will be tradeable there, but for sure its depends with their dev team member too

BennyK

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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.

CLywaTeLb

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Items 1 and 3 are secondary and do not have a big impact on the success of a crypto startup.
And the second paragraph is the problem of many startups. Or maybe not at all. According to the results of many projects, we see that the goal of creating all these projects is to rise money from gullible investors and gradually and imperceptibly disappear. Thus, everything is in order with the second paragraph, they achieve what they are striving for Grin

DBronze98

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It is exactly 3 factors that make a good project bad. Founders always look down on the liquidity of tokens. I have worked with a lot of CEOs of new projects, they usually just focus on the product and want to develop it best, then fix themselves that investors will want to buy their tokens. That is definitely the wrong idea of the weak CEOs now. Hopefully this article will be helpful for those who are looking to start a business in the crypto market, learn from experience and pay attention to the community and exchange, it is a core component of the project's success.

Stanlo

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Many projects use discounts to create awareness for their projects and its really not a bad idea to me, its win win for everybody if they are able to make enough funds like reaching hardcap so its a cool feature of fundraising, the problem is these projects mostly don't bother to list of good exchanges

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Quote from: Red-Apple on September 28, 2019, 09:09:28 AM

1. Huge Discounts
they have to do it to get people the incentive to even bother with their garbage tokens otherwise they wouldn't even look at it twice.

You are wrong in here, in industry outside and inside the cryptocurrency. Giving an incentive or a discount is a very common thing, 50% or even 100% discount is plausible because they were giving it to their early contributor or investor. It is not about days but instead most of them were months or years. The company needs cash to start the project and they need the cash to ensure their development. That was why you'd see them giving 50% off to the investors.

but of course, some shit project were doing that intentionally to attract the investor and creating hype.

Quote from: Red-Apple on September 28, 2019, 09:09:28 AM

3. Bad Exchanges
that is not even relevant. if a project were good then every exchange would beg to list it!

not necessarily, just look at Semux project for example. It is a good project for me, but they did not get much attention after releasing their own smart contract.

badykvik

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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?

All your points are good but i think the real mistakes developers keep making is GREED.
My reason for that point is that all the past successful projects in the past did not make any of your listed points.

ansi

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You don't actually blame them for that discount though man, some people will invest in the thin air (literally) so that discount is a necessary evil to get the investment money they need to develop their idea / project.

After all, it's about making money at certain point, so those discounts are crucial man, not a mistake like you said. Investors risk their money into an idea, so the discount is the least they can get.
This how Fintech works

As for the lack of the solid project it's all about the right team / devs behind it & most importantly how important is that idea / project in the cryptossphere / real life (solve real problems). There is already great project with a working product already but they are worth shit in price value while other shit coins / projects worth a lot in price value while they solve shit in real life or in the cryptosphere.

Now the pat of the bad exchanges, we all know that this cake was eaten already by couple major exchanges that control the whole crypto exchange business which make it even harder for other good (unknown) small exchanges to vanish since they have no good liquidity for trading this or that coin / project.

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