Topic: [old thread] - RISE | DPOS | APPS & DAPPS - page 144. (Read 653289 times)

Thanks for your feedback @Geenstijl. We won't be releasing expense forecasts at this point but you can expect more frequent expense reports in the future.

Any actual update on this pity scam?

Hi @coinmenace, thanks for your comments. To respond to your post and to answer your questions:

- The elements marked 'ongoing' are parts of the platform that are either still in development or parts that will receive future software updates. Even when the platform has achieved production status it will still continue to receive updates and be considered 'ongoing' as is the case with most other crypto software projects that are still supported.

- The Rise SDKs are done, developers can experiment with them and test them. In fact, the Rise desktop wallet already makes use of the Rise SDK for C#.  The reason they are marked 'ongoing' is because they are in alpha state and will continue to receive updates or bug fixes in the future as needed.

- Regarding the Code documentation, the Lisk code did not have clear code comments. So in order to figure out how the system worked our devs went through countless lines of the Lisk code base and added the much needed code comments themselves.

- The expense report mentions the API based delegate testing suite  (not the delegate system itself). This suite was developed for the use of stress testing the Lisk based Delegate system. This was needed for the sake of trying to solve the instability (fork and sync) issues. As reported last week the issues remain unresolved and we are looking into building our own code base from the ground up. The re-architecture of the code is being explored as we speak and the dev team is testing for feasibility.  

- The expense report covers 4 months from July to October. The office lease started in July and during that time the office was being set up for use. On August 2nd the office was completed and the development team started working there from that moment on.  

Wow. 140K for the Don't Panic Consulting. And investors should not panic now?

A lot are still ongoing - even the released SDK are still marked ongoing.
Code documentation of rise-core codebase - isn't this the part copied from Lisk?
Delegate system API + "Extensive Testing" - you already developed the delegate system and already did extensive testing? I thought this is not working (since Lisk has not made it work yet) and you'll start from scratch.

Office costs absorbed by Don't Panic Consulting - which did not have an office until Early August (remember the Kitchen Office) - you sure Rise did not give a dime for that? So nice of DPC.

Allright. Thanks for the update. Regarding the expenses. I think it is normal that the company does the the developments sends bills to the foundation. I worked as a fiscal expert at one of "the big four" and I saw this really often. There are some things to watch out though... of course many people abuse these kind of organisational structures.

 The fact that the management of the foundation and the management of dpc are so closely related could cause troubles when donators can prove that another party would have brought better results. They could argue that the management of the foundation based their choices on the basis of friendship rather than what's in the best interests of the donators. This is no form of money laundering, it's bankruptcy fraud. In this case DPC will not be liable, however the members of the board of the foundation can be held personally accountable.

I would just like to advice that as long as you guys feel that you are making the right decisions, keep going the way you are doing.

Now if this is possible i am also curious to know what the expected expenses are in the upcoming 6 months. I assume that such forecasts are made in advance..

How convenient lol, outsourcing to a company  Justin owns, how fucken convenient. They basically paid themselves 140$k for 4 months of kitchen work, and delegate system still being worked on. Not bad a 35k$/month bill to the founder of RISE and CEO of don't panic consulting LOL!.

Not bad, living off of people's hard earned money while waiting for LISK to release their working delegate system to just snatch it from them and claim they spent all that cash working on it. For sure Alty's idea, fucker been milking people's pockets way before cloak coin, yes he had other coins and pumped and dumped.

The price proves this project is a sham and a complete waste of time, never trust a twitchy mother fucker, must of been having trouble living off welfare.

Hopefully they'll get what's coming to them, karma's a bitch.

Just a quick question, not sure if I got this right but if the ICO funds are considered as donations and their paying a third party company which they own funds for fake work. Isn't that considered money laundering?

PS. After reading a few pages back, this all looks planned and staged. A nice little scam going on, pretty sure Alty is the master mind behind it all. He has alot of experience in his field, thieving prick.

Thank you for the good laugh.


So you only used 150k$ since july ?  

It's a good thing that "Don't panic consulting" is nice enough to absorb some of all those huge "cost".


It gets better and better. Please keep the update coming.

The Rise development team is currently working on designing the new Architecture for Consensus / delegates mechanism and performing feasibility studies. We're waiting for these to be completed before we can announce with certainty what direction and approach we're going to be taking to solve the previously reported challenges we faced with the current code base. Below is the list of issues that the dev team is working to resolve with the new Architecture:

- Slow system speed - 10> Transactions per second - Above this causes forks
- DDoS Vulnerabilities in multiple core system packages that require significant updates to resolve
- Spotty delegate communication
- High resource usage for nodes

Any update on the expense report? It was mentioned 7 days ago that it will be published in the week. Checked the last few pages and saw nothing mentioned about it.

we all invested on  this, if these people deceive us there is a karma! stop complaining if they do wrong , wrong will come to them, it's law of life. Trust me you do wrong, wrong come back to you. If I lost money I dont care, We did it with good will, If they abused our good will then if there is a God out there they will pay their final day, but if they deliver then they will be reward it...do as you like! I can care less as justice will be made either way, You do good , good will come back to you. You do bad , bad will come to you. People stop moaning and move on there is nothing you can do now regardless what management want to do.

We need an update guys.

Don't worry tho, soon enough you'll have a new chance to invest in another alty project. Give it 2 years more or less.

Last time he fucked up people, he just left his coin (cloak) and handed it to someone else, I would not be suprised to see the same scenario a way or another .

There are patterns you can't miss if you know Alty past.

Yes, xem is a super project with more than 1000X profit ico, it is like nxt, insane profit.    I like xem too, this year best ico are stratis and lisk. Stratis' all time high is 10X of ico price, lisk is an awesome one, lisk listed on polo in launch time, and made 10X there also, but now the price is down, only 50%+ profit right now. These two are most profitable, much better than this "rise", it is only going down, and screw ico investors, what a pathetic team with all fake CV.

if anyone wants to invest in a real coin with real devs and regular updates, look at NEM. Don't waste your time with these so called rise "dev".
ICO raised equivalent of 80btc and they are 9th on marketcap.

Cloak had somehow becoming successful without Alty maybe they need to remove Alty form the team to get this going  They may be able to come up with new ICO again and give discounts to users who will buy their ICO using RISE. oh no.

What's funny to me is that there are multiple successful cryptoprojects without any funding.
Hiring 2 coders and realizing that they lied about their skills on their cv like the rest of your staff, and now you have to undo everything, is just hilarious.

Spent money on hooker and blow? I think if they do, their money is depleted.

I think they started out with good intentions and then couldn't fix the Lisk code and not even meet one deadline. The whale with the huge support at 1000 satoshi found out about this and stopped supporting the Rise project with the massive buywall. This is the point where I got out and sold all (luckily)

After they couldn't fix the code the team didn't agree on what road to take and kinda disintegrated. Explaining the radio silence

So whats left is nothing good, the dev funds are also severely depleted i think

Sadly there is one or two individuals who have tried to pump up the price since summer with no results and tens of their BTC now lost to RISE bags worth shit. (you can see this discussion in slack history).

Team did a major league fail not to communicate or promote the project during development to drive up some speculation. Was the radio silence in place because they knew for a long time that they can't make delegates work?

RISE website looks something what a first timer could do with wordpress in one day. Three persons in marketing, branding and design makes me wonder.