Coin abandoned by DEV. No future.
Lol. Who's said this?
Why don't you try reading the thread? or twitter? or any other crypto news source?
Don't confuse ppl about this
Really? You obviously don't understand what "Arch will not invest any further in the protocol, client or any crypto venture." really means...
To the Arch CEOs and Investors
After reading through the QnA submitted to me I felt complied to write you this, more personal, brief to put everyone into perspective about my own thoughts and goals regarding the future of Arch.
Its no secret that lately I have been very disappointed with the Bitcoin and Crypto community in general. Although I still believe in the technology, my outlook on its eventual mass adoption has changed dramatically since I started Arch. Whatever lays ahead in the future of Bitcoin, its foundation is scorched by words like drugs, fraud, ponzi, theft, hacks and all the vile actors that come with the concept of easy money. I have no doubt that bitcoin will find its valuation rise eventually, not in the next 1 year as I hoped a few months ago but in 3-5 years when the technology is already implemented and Bitcoin is referenced as the gold of its counterparts, a simple store of value. Until then, any bad news, regulation, ban, hacked exchange or 20Mb protocol non-consensus can send the bitcoin value into a massive exodus never seen before together with all its crypto-pairs.
To add to this, the lack of liquidity in all the crypto currency market and bitcoin itself has resulted in numerous startups having to shut down or rebrand. Archs crypto ventures suffered greatly from this and met similar fates. In this perspective, I have decided not to further support any investments in the Arch Protocol, Client or any Crypto Ventures until undeniable proof is presented as to its financial viability and/or achieve our companys goals.
Although investments have been made in 3D printing and Virtual Reality equipment, it has come to light that these technologies are still very young and either dont live up to my own quality standards or still have a long way to go and require further work to evaluate its viability. This time consuming work removes energy from our main product development and core business so do not count any any major developments in these niches until after August 31st.
While most people involved in crypto-currency are naturally tech savys in one way or another, the reality is that most entrepreneurs/investors/clients over 30-35 are not. Asking them to join slack, download a wallet to stake or interact with a community/technology they dont understand is silly so please do not confuse our Moby partners or company employees with the Arch token.
Moby prototyping is being delayed. Why? Simple, we need more financing, we need more studies, we need to test more options. Every time we change the molds, money is lost in the process. Materials are thrown out, time is wasted trying to advance to comply with idealistic deadlines foregoing proper development stages. A product like this implies a lot of set-backs during construction, the windows dont fit, its too heavy in the front, the door needs to be redesigned, the batteries are too close to the pipes, etc, etc and if the shipyard cant handle their own orders, it is impossible to try to force them to comply with this cooperated effort.
Let me make this clear, the contract for 5 Mobys and a pier is REAL but proper steps need to be taken to get this into the construction phase. First I need to approve the project with local authorities, shore protection plans and http://www.amn.pt/, licenses are needed and approval of such a project can take up to 6 months. Contract details will be shared when the client authorizes me to do so. Although I might leak them in the near future, some parts will have to blacked out to protect the ones that matter, our clients its their money, their marketing, their rules. Contract states that 50% of the total investment will only be released when the project is approved and another 10% when we deliver each Moby.
I also want to address the financial part of Arch. I do not owe any explanation to anyone about my own use of the tokens. Its silly to even think that the $230.000,00 crowd fund is enough to fund everything we have done and are doing. Every day we see crypto start-ups in various stages of funding, getting Millions from one place or the other yet everyone in Arch seems be worried about being in the 2020 program, or looking for VC capital through private investors and other sources.
Well, let me make clear: We estimate the final cost, including proper marketing and resources with be close to 1 Million dollars and we will seek funding under every rock available to achieve our success and the appropriate funding. This is not a race to build Moby, its an endurance run to build a solid business.
Once again, nothing has changed from the whitepaper, the math has always been very simple, whatever the financial terms we need to adjust to achieve this goal, 50% of the profits from every sale will be used to market buy the Arch token.
Arch hasnt changed just its environment and its implementation. Arch will continue to be used as a virtual token and will be exchanged for real shares when the time comes, as described in the whitepaper, but this fickle crypto community has worn me down and I have lost interest in further associating my name to this dubious financial/libertarian concept called bitcoin, at this time.
The only thing against us is time and your own expectations, Arch and Moby will continue despite any setbacks and I will continue to lead this company into the future of smart property and alternative living.
Meanwhile, I will continue to enjoy my trading hobby and interacting with you the shareholders on slack, updating our Arch tabs and investors as we go along.
It might not be the best of news, but it is what it is.
Best Regards,
Edgar Soares
After reading through the QnA submitted to me I felt complied to write you this, more personal, brief to put everyone into perspective about my own thoughts and goals regarding the future of Arch.
Its no secret that lately I have been very disappointed with the Bitcoin and Crypto community in general. Although I still believe in the technology, my outlook on its eventual mass adoption has changed dramatically since I started Arch. Whatever lays ahead in the future of Bitcoin, its foundation is scorched by words like drugs, fraud, ponzi, theft, hacks and all the vile actors that come with the concept of easy money. I have no doubt that bitcoin will find its valuation rise eventually, not in the next 1 year as I hoped a few months ago but in 3-5 years when the technology is already implemented and Bitcoin is referenced as the gold of its counterparts, a simple store of value. Until then, any bad news, regulation, ban, hacked exchange or 20Mb protocol non-consensus can send the bitcoin value into a massive exodus never seen before together with all its crypto-pairs.
To add to this, the lack of liquidity in all the crypto currency market and bitcoin itself has resulted in numerous startups having to shut down or rebrand. Archs crypto ventures suffered greatly from this and met similar fates. In this perspective, I have decided not to further support any investments in the Arch Protocol, Client or any Crypto Ventures until undeniable proof is presented as to its financial viability and/or achieve our companys goals.
Although investments have been made in 3D printing and Virtual Reality equipment, it has come to light that these technologies are still very young and either dont live up to my own quality standards or still have a long way to go and require further work to evaluate its viability. This time consuming work removes energy from our main product development and core business so do not count any any major developments in these niches until after August 31st.
While most people involved in crypto-currency are naturally tech savys in one way or another, the reality is that most entrepreneurs/investors/clients over 30-35 are not. Asking them to join slack, download a wallet to stake or interact with a community/technology they dont understand is silly so please do not confuse our Moby partners or company employees with the Arch token.
Moby prototyping is being delayed. Why? Simple, we need more financing, we need more studies, we need to test more options. Every time we change the molds, money is lost in the process. Materials are thrown out, time is wasted trying to advance to comply with idealistic deadlines foregoing proper development stages. A product like this implies a lot of set-backs during construction, the windows dont fit, its too heavy in the front, the door needs to be redesigned, the batteries are too close to the pipes, etc, etc and if the shipyard cant handle their own orders, it is impossible to try to force them to comply with this cooperated effort.
Let me make this clear, the contract for 5 Mobys and a pier is REAL but proper steps need to be taken to get this into the construction phase. First I need to approve the project with local authorities, shore protection plans and http://www.amn.pt/, licenses are needed and approval of such a project can take up to 6 months. Contract details will be shared when the client authorizes me to do so. Although I might leak them in the near future, some parts will have to blacked out to protect the ones that matter, our clients its their money, their marketing, their rules. Contract states that 50% of the total investment will only be released when the project is approved and another 10% when we deliver each Moby.
I also want to address the financial part of Arch. I do not owe any explanation to anyone about my own use of the tokens. Its silly to even think that the $230.000,00 crowd fund is enough to fund everything we have done and are doing. Every day we see crypto start-ups in various stages of funding, getting Millions from one place or the other yet everyone in Arch seems be worried about being in the 2020 program, or looking for VC capital through private investors and other sources.
Well, let me make clear: We estimate the final cost, including proper marketing and resources with be close to 1 Million dollars and we will seek funding under every rock available to achieve our success and the appropriate funding. This is not a race to build Moby, its an endurance run to build a solid business.
Once again, nothing has changed from the whitepaper, the math has always been very simple, whatever the financial terms we need to adjust to achieve this goal, 50% of the profits from every sale will be used to market buy the Arch token.
Arch hasnt changed just its environment and its implementation. Arch will continue to be used as a virtual token and will be exchanged for real shares when the time comes, as described in the whitepaper, but this fickle crypto community has worn me down and I have lost interest in further associating my name to this dubious financial/libertarian concept called bitcoin, at this time.
The only thing against us is time and your own expectations, Arch and Moby will continue despite any setbacks and I will continue to lead this company into the future of smart property and alternative living.
Meanwhile, I will continue to enjoy my trading hobby and interacting with you the shareholders on slack, updating our Arch tabs and investors as we go along.
It might not be the best of news, but it is what it is.
Best Regards,
Edgar Soares