Why do some people stop their crypto project? - page 9.

krisnajsadrak

sr. member

Activity: 1092

Merit: 250

Hodlers Network

Quote from: Sulman326 on August 09, 2020, 02:28:47 PM

In a short while that I have been in cryptocurrency I have seen so many crypto project and fantastic budget and planned you see that some of them still left the project unfinished some even do stop the crypto project without any pre_information about the sudden change of plans concerning the particular project so what do you think about the crypto project that have been suspended half way , what do you think that should be done for this kind of the attitude of crypto developer's concerning crypto project abandoned project.

i think they didn't seriously develop their project my friend
because a developer team if they serious with their project, they will try the best to make their project success,, Whatever will be
except from the beginning they want to cheat investors

fmz89

legendary

Activity: 1764

Merit: 1002

Quote from: Sulman326 on August 09, 2020, 02:28:47 PM

In a short while that I have been in cryptocurrency I have seen so many crypto project and fantastic budget and planned you see that some of them still left the project unfinished some even do stop the crypto project without any pre_information about the sudden change of plans concerning the particular project so what do you think about the crypto project that have been suspended half way , what do you think that should be done for this kind of the attitude of crypto developer's concerning crypto project abandoned project.

exit scam at the worst, many project with raised 40M$+ most likely it will run for long haul, if they fail cause some funding they use to invest in crypto and get rekted

or some member team flee with bunch of money with their greedy,some project fail to accomplish their plan and got stuck in place

NewRanger

sr. member

Activity: 1624

Merit: 341

Buzz App - Spin wheel, farm rewards

many cryptocurrency project stopped due the developers capability to build usefull project. they have no good background to developt cryptocurrency that used in wide ecosystem. take a look at failed project, its just tradeable in market meanwhile it have no function at all. investors looking project that will give them several benefits, from its price increase and its function in ecosystem.

sharos

jr. member

Activity: 559

Merit: 4

Quote from: Kvalentine on October 30, 2020, 07:59:21 AM

Quote from: sharos on October 30, 2020, 07:55:52 AM

Marketing is the heart of project. If team members are not knowledgeable or the marketing manager is not experienced, then project does not get investors to take next step. This is a major cause.

I'm just wondering why a team will launch new project without the right experience, is that not the main reason why developers hired team members? This is sadden honestly, very heartbreaking, we have to invest in their project with our hard-earned money but they aren't qualified to take the project to high level?

I wrote only one reason, there are more reasons. Another reason is scamming. If the project team's goal is simply to scam, they close project after get some money from investors. Like KingCasino

Quote

I just pity those who blindly invest in projects

It’s really frustrating.

Vaskiy

legendary

Activity: 2646

Merit: 1106

Enterapp Pre-Sale Live - bit.ly/3UrMCWI

Years back more new projects got into market, and succeeded by the bull market. During that time period the market isn't that mature as well as people aren't much knowledged about the market. Having that growth and profiting in mind people go for developing their own project. First of all the project should be started for some usecase, but here projects are developed for the purpose of money making. This is the major reason for existence of lots of projects and one in ten getting success.

Kvalentine

member

Activity: 504

Merit: 25

Quote from: sharos on October 30, 2020, 07:55:52 AM

Marketing is the heart of project. If team members are not knowledgeable or the marketing manager is not experienced, then project does not get investors to take next step. This is a major cause.

I'm just wondering why a team will launch new project without the right experience, is that not the main reason why developers hired team members? This is sadden honestly, very heartbreaking, we have to invest in their project with our hard-earned money but they aren't qualified to take the project to high level? I just pity those who blindly invest in projects

sharos

jr. member

Activity: 559

Merit: 4

Marketing is the heart of project. If team members are not knowledgeable or the marketing manager is not experienced, then project does not get investors to take next step. This is a major cause.

unusualfacts30

hero member

Activity: 1540

Merit: 500

Quote from: Sulman326 on August 09, 2020, 02:28:47 PM

In a short while that I have been in cryptocurrency I have seen so many crypto project and fantastic budget and planned you see that some of them still left the project unfinished some even do stop the crypto project without any pre_information about the sudden change of plans concerning the particular project so what do you think about the crypto project that have been suspended half way , what do you think that should be done for this kind of the attitude of crypto developer's concerning crypto project abandoned project.

that's a very interesting question. There were few tokens that I still have that were extremely good in the beginning, they had large budget and it looked like they were making progress. However, it all stopped without any news during last November 2019 and its not even listed on any exchange anymore. I am really not sure what happened to it. Usually when this kind of things happen you can never tell whats going on unless the team decide to inform investors.

some small time projects close down its no problem but when you have something that has few million dollars budget and they decide to shut down. it doesn't make much sense.

baiwei

sr. member

Activity: 541

Merit: 250

People usually tends to stop their crypto project because of it's insufficient availability of things or fund for promotion so it happen when a project is lack or good management and endorsement it will eventually stop as if there is no people will grab it for investment.

Stanlo

full member

Activity: 952

Merit: 110

The most important reason is lack of fund, maybe the team used small exchanges for IEO fundraising which mostly kills many projects before, it's why people should understand the difference between p2pb2b exchange vs Okex, if they have no fund for listed they should find ways, small exchanges are bad news for new projects

1l1l11ll1l

legendary

Activity: 1274

Merit: 1000

Quote from: jessyj48 on October 30, 2020, 03:29:13 AM

It's bound to happen, many projects are rushed and later get abandoned as time goes on, we have too many inexperienced developers in crypto space, if there is a way to give access to only those who are qualified we will have less scam and fail projects in crypto space today

Ya ya, a lot of projects close because some of their team inexperienced in this industry, preffer to avoid more lost than continue the projects. but we also need to understand that there's also some factors that maybe forced them to stop their project development

jessyj48

member

Activity: 756

Merit: 14

It's bound to happen, many projects are rushed and later get abandoned as time goes on, we have too many inexperienced developers in crypto space, if there is a way to give access to only those who are qualified we will have less scam and fail projects in crypto space today

dobol

sr. member

Activity: 392

Merit: 250

Quote from: Rowenta on October 30, 2020, 01:47:38 AM

There are different reasons why a project can stop working

1. They simply run out of fund.
2. They failed to meet their target ( they would refund investors if they are real project.
3. They exit scam
4. They have no reason to carry on because investors don't have interest, meaning there will be more lower volumes day by day and they can't come up with new ideas.

Sad when they have very good technology but they run out of fund and no one interested because there's no marketing. i hope that there's some way for good projects to get more awareness even they have only little budget for marketing

shoreno

full member

Activity: 1750

Merit: 118

Quote from: petyang12 on October 30, 2020, 01:52:57 AM

There are different reasons why the project have stop. Some stop because they don't have enough budget from the their fund raising ico. Some stop because they only want to scam. Some may stop because they didn't have the chance to join the market or didn't garner much attention.

the first two that you said are common but the third, is that even a valid reason to stop ? that reason was so lite .

new projects normally start small and not popular but if they have gathered the right amount of budget that they need they can work out the rest , follow the plans that they make and they can expect noticeable results but if they are too ambitious at the start and wants to be popular easily , something isnt right with the way they think and they arent professional .

Dariusburst

member

Activity: 182

Merit: 10

There are many possibilities, some chose the wrong use case, some choose the wrong team members, not all those on LinkedIn are real blockchain experts, they know nothing about blockchain technology, so when problems occurs they won't be able to fix them, this is why the most qualified people for crypto projects are those who study blockchain technology for past years

Rowenta

member

Activity: 196

Merit: 12

Most projects on crypto space are money making machines, once the team had enough they decide to exit and move onto the next strategy, their way of exiting is different, some won't make it look like they run away with investors funds, they will exit slowly and find other things to put the blame on, the perfect scam

petyang12

member

Activity: 352

Merit: 10

There are different reasons why the project have stop. Some stop because they don't have enough budget from the their fund raising ico. Some stop because they only want to scam. Some may stop because they didn't have the chance to join the market or didn't garner much attention.

nrvasquez

hero member

Activity: 966

Merit: 500

Quote from: desticy on October 29, 2020, 06:46:57 PM

Usually there are 3 options.
1. People understand that their project is shit, and they prefer to stop before it happens naturally.
2. They have collected enough money and are going to hide with them.
3. They have not raised enough money, and they have no choice but to finish the work ahead of time.

Not gonna lie, but most projects are forced to exit because they don't gave enough resources (financially or in terms of man power). but we also can find a lot of shit projects who just want quick money from investors

StealthCoin1

sr. member

Activity: 498

Merit: 252

Life failures Stealthcoin, Ark coin and Safemoon

1. They make money then moving on to the next one
2. They know their goal is not achievable
3. Short on fund
4. Not many people interest on them and they think it's just a waste of time
5. They don't have time for it

Rowenta

member

Activity: 196

Merit: 12

There are different reasons why a project can stop working

1. They simply run out of fund.
2. They failed to meet their target ( they would refund investors if they are real project.
3. They exit scam
4. They have no reason to carry on because investors don't have interest, meaning there will be more lower volumes day by day and they can't come up with new ideas.

Topic: Why do some people stop their crypto project? - page 9. (Read 22938 times)