ICO Whitepaper and the Reality.

in crypto •  6 years ago 

blockchain-ico-whitepaper-reality.jpg

One of My Biggest Frustrations in the Cryptocurrency World is the Hype of the Whitepaper vs. the Actual Product Release.

Does anyone else feel this way? It seems like this happens too often. The whitepapers, websites, and hype are all about how amazing something is going to be. Then once the product is delivered I am severely disappointed. I guess I should mention that the majority have not even gotten to the point of a product.

One Way I Follow Progress is Through the Project Commits on Github. CryptoMiso

This does not work for many tokens but most of the big players are on here.

2018-05-10 09_50_09-CryptoMiso - Ranking cryptocurrencies based on Github commits of past 12 months.png

I Understand the Difficulty of Releasing a Quality Product.

People often ask me, "Randy when are you going to release a platform?" Well, this is exactly why we have not. My company Token Magic is close to our first product release but that has been months in the making. Finding blockchain devs, front and back end devs, UI devs is not easy. So the next time you wonder why products do not come out as good as the whitepaper remember that this is a very young space and we are all learning everyday.

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Some ICOs delivered good products, but many didn't even make it to the bad part of that drawing. LOL

I like what EOS is doing with the airdrops and what Ontology did with NEO holders. Just hold the platform token and get the rest for free. If only few of their dapps successfully get mass adopted the platform token holders win bigly on the app tokens and the platform token appreciation. It is a fact something like 90% of these ICOs will fail anyway just like 90% of all start-up businesses fail. If only more Investors understood this I think this space would be much more stable.

This above is another reason why I am not letting go of my Steem anytime soon. If SMTs start airdropping to Steem hodlers the Steem price will explode and we get a lot of free tokens! If any of those SMTs successful we win big time.

I wonder how the airdrops will be handled and where the coins would show up?

That's a great question that need an answer. I am still waiting to claim the free Vice tokens that were promised months back. https://steemit.com/steem/@furious-one/steem-softfork-to-vice-and-airdrop-for-block-18-500-000-steem-holders-sfw

I hope Steem and @ned releases news soon. I wanna start seeing software releases not just talks about it. Action worth a thousand words.

This is the reason we need to make the DAICO model mandatory suggested by Vitalik Buterin.

  ·  6 years ago (edited)

That's true now the most usfeul blockchain is steem and eth but i think this year we will see more interesting ideass coming true for example i love the project of venchain for example i love the project of venchain. Regards

I sold all of my Ven a few months back. Once the momentum left I felt it was time to go. They kept delaying the rebrand and it pissed me off.

Love the horse picture breakdown... laughed out loud. Thanks sir!

you are quite right, sometimes it hypes the actual production value and the picture is funny but reveled the truth.

Yes, your points and experience is real answer means, in my opinion Whitepaper just shows an trailer of actual picture, so after project launch there could be many reasons for the stability of instability of an project, and the biggest reason is the team behind particular project, if team is strong, possibly it can face the lack of stability initially but it will stand for long term and in case of incapable team, then no matter what your Whitepaper is telling the results and performance of that project will be nil. Thanks for sharing and wishing you an great day. Stay blessed. 🙂

I think this is a reason why there has not been even more money coming into crypto!

There are far too few quality developers helping out in the space! It seems like some are leaving their current jobs, but there are still thousands of positions that need to be filled!

The content creators and marketers are ahead of the developers and analysts. Also, I believe it is harder to pull something off from a development standpoint than it is to get it on paper!

Very good point. And I loved the blockchain horse graphic! Just thinking off the top of my head here, but I wonder if part of the reason has to do with the mentality of the tech world? In Silicon Valley, for example, there seems to be a real push to get a product to market as fast as possible. Products are released in "beta," a little bit half-baked. Companies are encouraged to create a Minimum Viable Product (MVP) rather than a fully-featured, fully-tested product. That might work with an app... but not with a blockchain project!

I think you are on to something. Some blockchain projects have been working to deliver something for years. That would not be tolerated in Silicon Valley.

If it's an infrastructure project it might be different. But with dApps or tokenized ecosystems projects you can release a MVP/POC or a private beta (as a pilot). For example, Dpact is a microfinance project using blockchain, in less than 3 months they released a pilot (MVP) and they are doing tests to see how it will scale.

Love the horse picture breakdown... laughed out loud. Thanks sir!

This is the reason we need to make DAICO model mandatory suggested by Vitalik Buterin.

Randy @hilarski I just wanted to ask you how you still feel about EOS ?? I know Bix Weir has been the KING of FUD lately with his Brock Pierce Commentary. Just Looking to see how you feel since we are going to have a LIVE EOS Product next month ?? Thank you

I like EOS and I personally don't put any of my thought towards what Bix Weir says. I was in the gold and silver world for almost a decade and he was one person that I could not listen to.

Thank You Randy he has just been Ranting constantly lately and it gets Old. Don't blame you at all if you don't listen to him. @hilarski

so funny......

very great showing chart i am imperessed

very good..that is the art

it's a great theme ..great to share....

I guess I should mention that the majority have not even gotten to the point of a product.

Yep, I was going to say that a lot of the ICOs I've been interested in haven't developed heads!

I think a lot of the issue is what I like to refer to as the ICO Rush. Much like the Gold Rush, you've got people flocking from all corners of the world trying to make their fortune.

Sadly, although some will make a killing, the rest will be sifting through worthless dirt.

I imagine it is very difficult to release a top quality product in this space, but as you say, it's very young, so I think the future is bright!

I have been even more money coming in this crypto. There are many quality helpers in space! It seems that some have left their current work, but thousands of criteria still have to be met! I believe that it is difficult to pull off anything from a development perspective than get it on a paper!

This is so true ico are just a dream selling mechanism now

This is a very young space, but not being able to release a decent product is about competence. Majority of blockchain projects leaders has no experience in product development but they are good speakers, they sell the whitepaper but they don't have the competence to release a product.