Post
Topic
Board Announcements (Altcoins)
Re: [ANN] HEAT: 3.0 crypto*multisig fiat*a2a hft*1000tps*DSA*PoS+PoP*e2ee chat*
by
CrowInACrown
on 28/08/2017, 05:21:55 UTC
I have to say, that I was quite enthusiastic about HEAT initially. And why I am far away from taking the side of obvious FUDders (yes, there are FUDers in this community and please do not deny it), I think that being a shill is equally wrong (and equally popular here). Many people are bagholding HEAT and it is obvious to an outsider that those people just want to exit this project. While the concept and technical execution are right the business aspect of HEAT lacks professionalism. It was stated somewhere that busines person leading the project has years of experience in business but experience does not always mean professionalism. The way how many things were handled here clearly prove that he is not the brightest kid on the block when it comes to handling business (nothing personal, just stating the obvious) and definitely has little knowledge of blockchain tech itself. Obviously Poloniex is not listing this project and Bittrex also clearly stated the same. There was some attempt to list HEAT on Cryptopia but IMO it was just an attempt to make everyone more enthusiastic about the project and even people who initiated this understand HEAT will not get listed on cryptopia. Previous project of those devs has similar track record. FIMK had interesting tech (like HEAT does) but it was never listed on a good exchange. HEAT is following the same path. I think everyone of us bagholders here gets it but we are hoping that something unusual will happen and the price will skyrocket, which obviously will not happen. Our direct competitors like Waves have now multimillion market cap. Startup business (and crypto business too) is about unicorns and projects that make mistakes. You can not win them all. Accept your investment mistakes and move on instead of trying to throw your bag to ther people, this is morally superior (and if you truly believe in a project - despite the fact that everything proves things are other way round - just hold it silently and do not try to lure other people). HEAT lost with Waves. HEAT is following FIMK path. It will continue to go down in Coinmarketcap and there was never a coin that fell below 200 top coins that went up (it happened for 100 top coins quite often though). I do not think HEAT will be successful but there are couple of possible solutions.

1. Business dev of the projects needs to become more humble and accept that he is not that good as he would like to be. Hire professional developer, especially with knowledge of crypto and remain just a holder of company's assets but stop making business decisions since you are terrible in it. And yes, you perhaps think that you have lots of leads that will convert into partnerships and it will be great, but I have seen (and probably not only me) people like that who truly believe in their business skills while in reality they suck and can not admit this. Those are usually very young people that are just entering the business (that is not you) or people with lots of experience, that were not made for this kind of job but are having problems with admitting it to themselves and are trying to prove others and themselves that they are good businessmen why they are not. Bottomline: hire someone who  knows how to handle things.

2. Improve your communication. I am not here to judge if you are deceiving people like many people do suggest or you are not knowledgeable how to do proper communicaton, but the fact is that those and many more controversies emerged: taking C-CEX coins for yourselves (the company) instead of giving them to users, constant delays, constant "misunderstanings" (like the recent one on Twitter that you admitted was example of not clear communication), constant lack of transparency (supposed new members of the team, accounting report - no proofs of those, constant delays, not judging if those are a lie or lack of professional commmunication, but both are bad). I am not here to judge which of those missteps were result of your lack of professionalism and which were accidental and which were attempts to deceive community which is very tolerant here (or maybe stupid in your eyes). I am just saying this needs to be fixed. Bottomline: hire someone who will make sure you communicate in more transparent and professional matter. Right now it does not look like professional crypto company but like startup from bunch of students. Their first. (Which obviously is not the case here, but this is how it looks).

3. Take care about the exchanges. While you might enjoy spreading the illusion (to the community and perhaps yourselves) that exchanges are not important the fact is that the opposite is true and any person with even basic crypto experience is going to tell you this. This is for 2 reasons: 1) Exchanges are the most efficient way to promote the project and build the brand name. Not being listed on a serious exchange simply shows that the project is not good enough for this and devs are not skilled enough to make this happen, 2) It is not true that "product first, exchanges later". All the successful project are following the opposite rule. Ethereum was tradable very soon, Golem (most successful ico on ethereum in terms of ROI) hit the exchanges without the project ready even now, Stratis (most profitable ICO of lasy year) was trading with basic wallet on a temporary blockchain, Waves (your biggest competitor that had ICO same time as HEAT) was trading as a plain blockchain for a long time initially). If you are not on the exchanges you do not count and are not taken seriously.

4. HEAT brand is tarnished. Ask average person what they think about HEAT and they will either say they haven't heard about it (which is bad for project that had ICO in 2016) or will say that "This is that failed ICO that none of the exchanges want to list and has constant forks/tech problems?". While the latter part of the sentence is false (there are no tech problems anymore), this is what people have in mind when you talk about heat. Do not trust me on that. Go to any other Slack or group and ask the question yourselves. HEAT is synonim of failed project for people aware of it. Even if you manage to find best team it will be very hard to fix this. This will be unpopular opinion, but another relaunch is the solution. Start third blockchain, let people buy it for HEAT but this time make things right and most of all make it fast. The only problem is people will not be eager to give you money since you have terrible reputation in crypto world now. Probably HEAT bagholders will buy into new coin and maybe some new people who enjoy taking risk will spend some BTC but it will not be the most impressive ICO but it will let you get rid of the name that is synonymous of crypto failure now.

5. This will be controversial for the bagholders. Current forging rewards are too high. They should be significantly reduced. There are so many new coins produced every day that the price will continue to be suppressed. There is technically nothign wrong about it, you still are getting profit but do not expect the price increase if there will be such big inflation. No need to change that, but also stop complaining about the price.

There was nice pump to over 7000 sat recently. The coin is still above 5000 so quite nice exit point (x4 ICO price in terms of USD!). But I guess when we go below 4000 sat soon there is no way up again.