Fiat Daily posted on February 24, 2019 08:45:08
Mixed feelings about this token. Obviously for the ICO investors among us it is highly disappointing, the token being 87% below ICO price in ETHER (never mind how much that would be in USD). Trading is laughably low at $300k which is even higher than its marketcap, which is quite extraordinary. The founders already had a platform for connecting contractors and customers since 2014 and decided to add blockchain and crypto to enhance the reliability of contractor reviews. The plan of the platform is to utilize Ethereum (for the token that is split in the a dividend token and utility token) and Steemit (for the immutable ledger of reviews and ratings (up/down votes), which seems like a reasonable idea. The platform is launched and the roadmap completed. Founders are still active in TG and people are using the platform. But obviously investors are not happy yet with the lagging performance of the token. I do like the concept and considering they have launched a working product, I wouldn't describe this project as a scam. However, I do have the feeling money grab was a big part of this ICO and the team is overpaid for its project. John McAfee was an adviser and shiller during ICO phase, which is a red flag and on a personal note: my personal experience with the ICO was that it was extremely chaotic and unprofessionally managed by the team. Also, tokens were initially credited to an account on the website, after which they were supposed to be distributed to your Ether wallet. I know many people have received their tokens, however I have not and even after reporting this a few times, the issue is still unresolved and no tokens received so far (truth said, due to the disappointing price, I haven't felt really motivated to actively resolve the matter either, but still it doesn't look favorable for the project nonetheless). So on some issues I would rate this not shady, on other issues I would rate this very shady, leaves us with an average of shady for Bobs! I wish I could bring it down to just slightly shady, because deep in my heart I am actually in favor of this project's concept and stated goals and I do believe they have realized a reasonably functional product with a proper implementation and utilization of blockchain and their cryptocurrency token, I am just disappointed about a little too many of shady issues around the project. Perhaps the future will prove us wrong, but for now, and also looking at CMC, it doesn't look so well!
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