Funny enough, I had SWT for a long time, it went up a lot pre-release of their new website and portal.
Then price decreased on opening of the portal and eventually decreased massively due to the parity hack.
I thought the project was good, I though the team was committed, but this was the only coin i ever sold at a loss because being hacked to me proves a somewhat incompetent management.
I know it is not their fault, I know parity hack was unforeseen and therefore difficult to protect against, BUT they lost 40k ETH of investor money, they should have taken measures to protect the money and they didn't. They lost me as investor, will not go in again, but wish them all the best and hope they are successful.
Then price decreased on opening of the portal and eventually decreased massively due to the parity hack.
I thought the project was good, I though the team was committed, but this was the only coin i ever sold at a loss because being hacked to me proves a somewhat incompetent management.
I know it is not their fault, I know parity hack was unforeseen and therefore difficult to protect against, BUT they lost 40k ETH of investor money, they should have taken measures to protect the money and they didn't. They lost me as investor, will not go in again, but wish them all the best and hope they are successful.
They were using Parity multisig wallet which was a standard. Projects like BAT, ICONOMI, and dozens of others WERE ALL using the same way of storing their Ether!
It is just that Swarm City along with 2 others were unlucky that the hacker chose them. The whitehat hackers were faster and secured ICONOMIs funds for example. They were all using Parity and they could have all lost money(and they did), but the good guys returned the money to the owners. The creator of Ethereums coding language Solidity, created parity multisig contract code.
So yeah, Swarm City is last to blame, really they couldn't have done anything better. But they were unfortunate and it is what it is.
As far as the price goes, yeah i was stupid enough to buy some at the launch at 5.8$. Regardless as it dropped after the hack i continued to stock up, because i think it could go x5 to around 10$, as the project could be really good. Anyways, glad to hear some oppinions.
