Recently, developers are increasingly refusing to fulfill their promises.

MuffinMaster

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Quote from: nemey on January 10, 2019, 06:08:07 PM

The promises from the developer and team of the project are very normal. They must make the investors and other partners are interested and trust in the projects. However, we must be also more careful and selective in choosing the right projects that probably the legit one.

I also think that this is the most important thing. If the developers are serious people and professionally approach the development of the project, then we should not be worried about its future. However, in order to know this, we must carefully check the experience of those involved in the project and only when we are sure that we can trust them, invest.

Nivelir

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And as you can see it really creates big problems. The market starts to fall and in this case it turns out that prices are falling. Therefore, investors are just beginning to leave our market and we do not know what to do next.

pilosopotasyo

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Quote from: galya.crip on January 08, 2019, 08:02:20 AM

Recently, developers are increasingly refusing their obligations and not afraid of the threat that the project will have a lot of negativity, it seems that they do not think about the future and only hope to raise money and hide.
What do you think?

I agree with you with your observation although a new here in this forum I have read a lot of projects being neglected after they raised their funds they are not doing marketing anymore, when in fact they should maintain awareness of the project.

nemey

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Catena X

The promises from the developer and team of the project are very normal. They must make the investors and other partners are interested and trust in the projects. However, we must be also more careful and selective in choosing the right projects that probably the legit one.

bitgolden

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Some of them are just scammers but not all of them, a lot of them keep to their promises. The rest are just there for the purpose of making money and when the money is no longer coming as they expected they will start to dump the project and taking away with them the money that belongs to their investors. That’s why you should study an ICO very well, its not just all about whitepaper.

Quote from: hengha on January 09, 2019, 04:17:01 AM

Because of the lack of regulation in the cryptocurrency market, fraudsters can commit fraud through simple structured projects and are not responsible for it. This is really bad.

I don’t really know that for sure, but I do know that even if there is regulation some of these scammers will still make their way through to the community to scam people. You can’t stop it, the best you can do is to avoid them. I remember reading an article on Cointelegraph.com on July 2018 which says that according to a new study 70% of the ICOs conducted in 2017 were scam. And around October of 2018 another statistics claimed that 99% of ICOs are going to fail. So the best you can do is to avoid them.

DominickA86

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I think it is a bad sign for the whole project, because people are getting disappointed in a team, if they are unable to release updates on time. But it still can be that the have faced some unpredicted technical problems and they need to be solved.

darmin

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Quote from: shinratensei_ on January 09, 2019, 03:39:57 AM

Quote from: galya.crip on January 08, 2019, 08:02:20 AM

Recently, developers are increasingly refusing their obligations and not afraid of the threat that the project will have a lot of negativity, it seems that they do not think about the future and only hope to raise money and hide.
What do you think?

And that's why you must choose the trusted developers and try to avoid these scumbags. Remember even a trusted platform can't be trusted for 100% and that's the only good thing to choose by us.
So fur they are changing the roadmap whatever they want.

in theory, this is the right thing. When it was met with the developers who are not serious with the projects they run then do not follow the developers again. This is the function of good analysis to find a decent project and will be great in the future.

astridwi

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I also think so and I have done a bounty, some of them did not give the promised rewards. they have no ethics and good intentions and this will reduce the interest of investors and users of this ICO, I want to be better for the future with a better quality ICO

Samyalson

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I get it that sometimes even the best-laid plans go to pot.

But if a project is not meeting its roadmap then it's a red flag to me.

There have been a few such projects, where money was raised and the people exited with the cash. The majority of which were perpetrated by Shenzhen Puyin Blockchain Group in China.

For me personally, I'd be cautious about investing in small cap, little know, poorly funded projects.

tracyhayley

full member

Activity: 652

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yes, most of ICOs project just collecting investors money now, listing on some exchanges, and then run away. they abandoned the project that they promised from beginning of ICO. so, most of investors didn't interested to investing their money on ICO anymore. most of ICOs in 2018 appeared with no products.

bellamente

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This is a very big problem that negatively affects the cryptocurrency market. In the future, such projects should be held accountable for failure to fulfill their obligations.

pedpedped101

jr. member

Activity: 552

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Developers behaving this way are only endangering their investments of their investors, because that will result into loss.
I participated in a project of such nature late last year, called Desico and the developer has now refused to pay.
Presently the project is at the point of collapsing, because investors seem nit to be interested again.

el kaka22

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Quote from: galya.crip on January 08, 2019, 08:02:20 AM

Recently, developers are increasingly refusing their obligations and not afraid of the threat that the project will have a lot of negativity, it seems that they do not think about the future and only hope to raise money and hide.
What do you think?

There are two reasons for that to happen. One is that they saw people not getting punished or saw any consequences of anything when they just scam the customers and investors. So when they get funded and do nothing with the money but spend it on personal stuff they know they will get away with it (in third world countries this is much worse since laws for foreign people asking for refund is a lot more loose).

Moreover, another problem is that they do not care about doing anything because they realize the market is horrible and they will fail, some of them even tries to achieve something but when the price of their token goes lower and lower whereas the value of the ETH they collected also goes low they realize they are underfunded to achieve their goals so they just take the money and leave.

owlman

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Quote from: galya.crip on January 08, 2019, 08:02:20 AM

Recently, developers are increasingly refusing their obligations and not afraid of the threat that the project will have a lot of negativity, it seems that they do not think about the future and only hope to raise money and hide.
What do you think?

This fact is true, and this is one of the reasons why the market for ICO projects has changed and lost interest from investors. I hope that the market of ICO projects will be different and only strong projects that have a working product or MVP will attract funds for their further development without any problems.

elda34b

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Quote from: Georgiyk on January 09, 2019, 07:48:08 AM

Yes you are right. You accurately described the realities of our time. Why is this so? Because there are no levers of influence on projects. If teams follow the “word = action” rule, then things will change for the better.

Even the most reputable dev that I know sometimes keeps missing deadlines due to something out of their hand, but they're definitely different from those "developers" who want to get a lot of money and then disappear.

While missing deadline sucks, sometimes they're unavoidable. Rather than releasing their software with a lot of bugs, I think it's better if they can make sure everything works properly. But this is no excuse to keep pending your launch date or reaching milestone like that.

One way to prevent developers slacking is to make sure that funding comes after milestone achievement, like what Pledgecamp aim to do.

Georgiyk

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Yes you are right. You accurately described the realities of our time. Why is this so? Because there are no levers of influence on projects. If teams follow the “word = action” rule, then things will change for the better.

oppo070

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Quote from: galya.crip on January 08, 2019, 08:02:20 AM

Recently, developers are increasingly refusing their obligations and not afraid of the threat that the project will have a lot of negativity, it seems that they do not think about the future and only hope to raise money and hide.
What do you think?

Well, basically ICO teams are lacking the support to their members especially their developers, this might affect how the developers behave and in such a case, the internal conflicts of the team has a negative impact on how the token will behave in the market. It is necessary that the team members are good for a coin to be successful.

CryptoAlphaStar

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Missing deadlines is somewhat normal in the software development world.
Another normal thing for early stage start-ups is pivoting and changing the initial idea, product and service.
So, nothing new under the sun.

harapan

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does the project raise enough funds?
I think it's very important to study a project before you start investing, if you don't experience this.

icalical

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Quote from: galya.crip on January 08, 2019, 08:02:20 AM

Recently, developers are increasingly refusing their obligations and not afraid of the threat that the project will have a lot of negativity, it seems that they do not think about the future and only hope to raise money and hide.
What do you think?

You need to make it clear, what kind of obligation do you mean?
There might be two possibilities if a project failed, the first one is that it is really failed, it might raise some money but not enough to cover up their initial development. Some or most of the project that failed refund the investors money, and it is not a scam if the project is really failed.
The other one is that the project is a total scam, and no matter what you do, you will not get your money back.

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