So it has been awful quiet from Cloakcoin.
Is this finally the dead coming to this project?
I've read some on the comments in the chat and I am indeed amazed how this team has proceed in the past.
From the comments the listing to Binance has had a cost of over 1 million USD. I know this is from the team and a few investors on pockets as this is a self-funded project but really. How could the mangement been willing to put up such a huge amount of money without a facelift of the old wallet, been able to run on a raspi without troubles, problems with the blockchain (errors) in general etc.
This has to be the ultimate proof of lacking management in this project - Spending money on listings where it could be used on the product itself.
The only real vocal core-member, Yogibear, even seems to have left the project. A guy that every day helped and guided people in the community is no longer to be found. That might also be something for new people to think about.
For all who thinks of investing in Cloakcoin - Just don't.
It has for years not been able to make any remarkable progress, ofc also due to lack of money, but indeed also lack of solid management and strategy.
Agree with everything you said. Yogi was the only one who was not over promising and under delivering and was the only person who was down to earth. And he seems to be gone for months with not much explanation.
Paying Binance 1 million USD while the community was constantly asking for development is totally unprofessional and amateurish. And the devs they hired over the years pretty much did nothing. And now they are asking for donations cause they can't pay the one dev who actually did some work. It doesn't get worse than this.
Although I still have some Cloak as there is no liquidity to sell, I really think that Cloak deserves to be this low and I can only be angry at myself for ignoring all the red flags in the past several years