Bitcoin Forum

What do you guys think about advisors and their roles in projects? Recently saw algebraix announce their advisors and they're not the typical blockchain advisors most projects have, but seem very strategic in both the blockchain world and traditional business world.

https://www.coinbureau.com/press-release/algebraix-welcomes-leaders-advisory-board/

How do you think projects should go about bringing on advisors?

Advisors' role is very controversial, because a lot of ICOs abuse the advisor list. I can easily imagine a deal with some mercantile advisors who agree only to be listed on the site in exchange for some tokens.

Some advisors do a lot of work for the projects, others barelly show up.

John McAfee was listed as an advisor for Sether. A while after that, it turned out he charges $105,000 for promoting ICOs. Do you think he did any real advising and work for Sether? I don't.

Depens it's really hard to understand the work they do in background, on some Ico for example you can never ear about them but they can bring over 50000 people on the project as investitors or as users after the project will born (Apps).

Advisers really matter only if they're really interested in the project they support. So if they invested in a project then they won't just advertise a project they'll do everything for the project to reach success. But in most cases so called advisers just get some percentage of tokens, make few posts about the project in their social accounts and then dump the price when a token is listed on exchanges.

I think they play a huge role. In algebraix's case. all of the advisors are key players to their expansion and credibility. Great roundup they pulled together

Advisers matters in BTC transaction. They act as their security measure that what they are dealing with is legit. Some ICO will just sign up a known person to promote their project. It adds curiosity and attraction to other non-members.

Certainly. They are important for investors to understand how seriously the team takes their project. Often gain it is unclear whom)) Better when advisor experienced can suggest the team how to act in the market.

Why not? It is a project and they have the industrial experience to at least help guide the team in a way. However, I feel things like this are not usually taken serious in the ICO world as some just take the whole advisor thing as a joke. Mostly, it is not a bad idea having great and knowledgeable advisors attached to a project as that can speak some huge level of volume for the project based on how investors perceive the impact of the advisor.

I think that all projects should have consultants, they are not the first time working with the crypto-currency market, and they understand the structure of it

It is obvious that advisors are not either full time employees nor team members, they are just for advise if a certain issue arise in there area of expertise but nowadays big names are used as advisors just to boost confidence in the project and attract big funds.

A very good question, which I also began to worry about recently, I've looked at advisors before, but now it does not bother me at all, because I constantly see different people whom I do not know at all. Do you think this worries me?

I think it really depends on the project and also on the advisors/roles. In this case, these advisors will be very beneficial to the project. on a side note, this is a very interesting project

I think if advisors were to be an legitimate expert related on the ICOs project and somehow has really the knowledge to impart to the team then I think it would really make sense but I agree with you most advisors are there just for the facade and title or just to make the ICO much more credible in the eyes of the target investors.

I always think that, every trader should find their own way by following the prices and the news. Of course sometimes you need advices, but I think you should always be careful about the advices about the next situations of the coins.

I really never had an insight in how this dynamic works between the team and the advisors. In a lot o projects it seems that they are there just because of their names as they dont have any experience nor knowledge in the particular field.

I think that basically it's just a marketing move. If some famous person writes about the project in social networks - the sale of ICO's coins is accelerated with the speed of sound.
If someone drops a word that project X is very promising, then the price on the stock exchange grows instantly. Therefore, unfortunately, the attraction of well-known advisors is an opportunity to advertise and spread the project more.
I haven't seen across projects advisors = real project participants, last 2 month.

I also think they mostly represent names on a list just to promote...but in the end it gets down to the single project, they certainly can have a key role in guiding decisions...but it's hard to tell from the outside

I think advisors that are good are beneficial to the project, but from the outside perspective it is hard to tell how beneficial they will be to a project. I mean you have a number of known names that are hired by many projects, then you have just a random guy called advisor. It is hard to say.

Advisory is always good for start ups, but the way they are being used in crypto ICOs are very different, they're more like marketing tactics. I mean, if you have 1 angel investor advising 10 or more projects, do you really think they're in it for long? They take their fee and move on. I remember Vitalik was supposedly advisor to Humaniq when they launched but now more than a year has gone and never hear a word from him about it and the project is going so far away from original hype.

Yes it does matter, I could remember this project Gochain I saw the project and like the idea but because the team seems light and the the quality of their advisors too, but what happens when they announced new addtion to their advisor team the hype started and sold out their presale in minutes. It is good to win investors over

I think advisors should matter!
I mean unfortunately in some projects advisors simply exist on the website and are featured in their press-releases - and that's it.
The perfect variant is when they actually help - share their background and expertise, promote and represent the project they advise.
But such situation isn't very widespread, though

I think advisers play very important roles...they should give good advice on everything about the project: marketing strategy, project development processes, short term and long term goals, etc.

Well, sometimes it is not really the work that are paid, sometimes it is the name. Like John McAfee, a well known name. By just seeing his name as an adviser in a certain project, trust rate on that project will also increase because they have seen a reliable person involved in the project. Ad populum as they call it in Philosophy. :D.  

Advisors often gives an ICO or a project an edge, especially when the advisor is reputable in the blockchain community.prior to their experience in the industry, they advise the project on steps to take to make the project successful, They also  give projects more popularity and trust. People tend to trust icos with reputable advisors that they wont runaway or disappear with their money after ico.

These are the basic roles where advisors should really do but some or most of them arent competent on the job that they do work for.Ive seen lots of ICO's where advisors dont really have relevant experience but still some do able to give significant purpose of such project but if i were to say its not really necessary to have these people but rather have an experienced team would really be just enough.

Yes advisor is also a good indicator if the project is a scammed or genuine, as if the advisors of the team are trustworthy and has a vast knowledge this can be one indicator that this project has a potential, i always check the advisors team, before i participate ICOs and bounties.

It depends what is their project platform about,they need advisors to help them for planning, strategy, technical issue, and marketing. these are just some reason why most of ICO gonna need advisors to help boosting their project. In the other hand some Advisors are just after about their share from the company. Even if their backround is not fit in one project but still company ask them to be their advisor. Advisors is one of the factor could give some investors idea to join and participate to their ICO.

depends on the project in which they participate, as well as on the value of the experience of the adviser. Sometimes there are frank scammers

I think that it is somehow the question of luck - are you lucky enough to have a highly-experienced advisor near you or not
anyway the more time you spend on this business the easier it gets to distiguish a good advisor from a bad one

An advisor role is very important for significant success and future of any projects. A good advisory team can turn an ICO into a successful business. Answer honestly, Will you invest in a project that has no good advisor? Or full of scam/fake advisor list? I won't, I think nobody will invest. This is where advisor matters.

a project will be successful if carried out by a person in accordance with their fields. advisors certainly are also important because it will be much needed progress in advising an ICO. If the Office in this field is not maximized, then I doubt the project will be run according to plan.

Advisors are great but they are not a guarantee to a great project. Besides some of these advisors don't care about the project but look for a way to make profit. A project will succeed if the team is focused and ready to make a difference. An advisor should be an added bonus

There is no unambiguous answer. In most cases, attracting advisors is just marketing. However, if the developers are genuinely interested in the quality of their project, then the advisers will be involved in the work on the project.

Advisors do matter at times, they give you the insight about a coin, a view from a different angle r approach to an investment, it however comes down to an individual to make that crucial decision. You can make your decisions based on the the advises given or you can chose to go your different way,  whichever suits you well is what you go with

I think that advisers are important, but their role is not a key to the success project and often their role is overestimated

I do not trust advisors and different people, you need to study more information yourself to become a Pro in your business !

I think advisors are needed if only they are performing their role effectively to seeing the success of the project, if not they should be ignored.

Advisors are very necessary in crypto projects execution because they play advisory crucial roles with their multidisciplinary expertise and making sure that the project comes to successful end.

Advisors matters a whole lot. Most times we need people who has a higher knowledge base and exposure in the area we are venturing into to guide us so as not to make some mistakes but to achieve more.

The advisor are sometimes even more important than the team. They provide a certain degree of credibility to the project and sometimes they are the ones that are going to make the business have real sales.

Not all the time. Advisors may mean wisdom, know-how and connections, but at the same time, they might be there for the easy money. To really know from a project, if their advisors are doing a good job, is almost impossible.

I think that advisors are very important. Some time they may be more important than the team in certain areas of the project.
The advisors may ruin the project are lift it up the skies.

Yes, advisors matter especially in start up projects. Their input can be very valuable and also their influence to the cryptocurrency market can help make start up projects become more popular.

Take ICO advisors as influencers. They are the well-known individuals that may have a good impact on the project at hand. I don't think they perform an advisory role as they are called. They just display them on the page to show a public figure.

Advisers do really matter.

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That's how they are working in the project, they are giving new ideas that may seem to be effective so that's why they are put in that position.

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Not only as influencers, there are advisers that aren't really popular but they are creative and has a lot of ideas to share to make the project better.

Advisers matter because they give another option to a certain project. They help to delete the possibility of having only one option. Sometimes, the fail of an ICO is directed to advisers. They also give some marketing strategy on how to steer the project the right way.

They matter but not that important than the team. The teams are mostly the brain storm behind the ICO project and they are the ones handling the technical aspect which most advisors are not. Also, the advisors are  needed to help in contributing  in the way forward of the project. They can also give advises on how the marketing methods to use.

Experience talks! That why a good project needs a well-experienced advisor for sure. But nowadays advisor means just to show off! The team just add a list of advisor and those advisor doesn't work for that. There are very few advisors who are really good but maximum aren't a real advisor.

I have seen most people claim that the advisors in a project don't really matters but the truth still remains that they are really important in a project. Though, its not compulsory to have them in an ICO project,  just that, most investors' feels at peace that the project will be successful when they see a couple or more than two advisors. So, in their own way, they are important.

I think it depends on who the advisor is. If the advisor has a lot of experience with successful projects and he has a comparative background and history, it does really matters. Not all of them are effective and helpful but we can't generalize them as there are some that's really helpful trying to make the ICO successful.
If the advisor isn't so popular and doesn't have an experience or portfolio to share, it's up to you to decide.

Advisors are not core or technical part of cryptocurrency projects but they can still play an important and integral part to the development and progress of the project by offering advises and recommendations to the dev teams based on their experiences and wealth of knowledge on a particular issue or specialization.

I really matters most, Advisors should have broad minded,witty and strong personality, One reason they are almost on the website. Coz they will help promote and advertise the project, and influence more people to join. it's like a marketing strategy on how to solve the problem and make a reliable sources.

Depends on the value they bring to the project.  Good value is experience, consulting, resources, contacts, and actual work on the project.

Clearly, there is a lot of scamming going on (now called "The McAfee Dis-Info Virus") or pay-to-publicize schemes.

Do your diligence and make sure the project, all team members (including the advisors) can effectively realize the goals of their project.

Not all people need to be technical, especially if the utility claiming to be provided in the future requires experts in that particular industry who have: contacts, life experience, and expert understanding of the industry.

Think about it.  How can you automate some type of service without understanding the "FLOW" of the industry? (HINT: you can't)  You need experts for quality or you will build a poor product that doesn't address proper industry needs or workflows.

If the advisers are giving suggestions based on their own investment and experience, you can go for it. But do not expect such advice for free.

Yes I believe advisers provide a vital role in any ongoing projects and even those that have concluded.
But this is only the case if and if the adviser/s shows diligence and provide advise that aligns with project objectives and the community that revolves around it. Advise form them should not be biased and self-serving.

I will not trust the advise of some random expert regarding my investments. May be some advice from friend can benefit but he should have some experience for this.

I think for me advisors really matters they can put you in a better position to make smarter long-term decisions to improve our investing strategy especially in btc. They play an important part of the team for the better project in the end, advisor help to mentor, support, guide and educate team members and also help develop leadership skills and serve as a source of encouragement and support.

I think it's matter, an advisor could be an extra point when people aerach the product, a good and professional advisor could lead the project into a better direction, so it definitely making the project into a better shape, one of the factors when people invest in ICO is the team, good marketing and good advisors are the one they looking for

I think advisor is important thing too for ICO if we want that ICO success to raise the money. Sometimes ICO team have popular advisor because that advisor have a great name on her/his community and able to bring the community to join on ICO

I see lots of potential with Algebraix and the caliber of advisors they brought on. Has anyone else looked into them? Here's their telegram: https://t.me/Algebraix_Data

In my opinion advisors are not really that important unless they are very influential in the project or in the community, if that is not the case then you could just ignore them and concentrate on the developers and the project itself, if you are convinced by those two aspects of the project then you can invest in it but if you're not even if the advisors are very good then you should skip that project.

Do you know any very well-known consultants?For me it is actually not important who is the project consultant.The main thing that the project was working and needed in society.

Depends on the advisors, but many just rent their faces for money.

in this century in any businesses advisor has a greater role play and put lots of effort for a company success. so yea it is necessary to have few advisor in any company which want to grow and do marketing.

Advisors play a very crucial role in the successful execution of a project. They might not be the idea creators but the brain and driven force behind the project. Choosing renowned advisors who are knowledgeable in both cryptocurrency and general marketing, always put the project on track and attracts the interests on investors.

Absolutely. Advisors are the ones who will look at your project and tell you if you are making the same mistake that another project make. They are called advisors for a reason and you would do well to listen to them when they tell what and what route to take and not to take. Advisors would tell you if the project you are working on is good or if it is not.

each project is clear there must be an advisor because if the advisor is not going to the project it will be confusing although sometimes the advisor does not affect the sale but will be very influential on the development.

I think they do but not that much. The team of the project is what it's better to look on. Look at Bitupper  (https://bitcointalk.org/index.php?topic=2637453.0)- it has some advisors but its team and developers (interact with them in Telegram (https://t.me/bitupper_en)) are what makes it interesting.

so what does everyone think about algebraix's advisors?? strong? good??

Strategic is important they need to manage their business well
otherwise it doesn't make any sense
it needs to be taken into consideration

advisors always play a vital role in any business or project engagement.
Their role is like a cornerstone in building the company and strategizing the sale of products.
However, this is only the ideal role of advisors, there were also advisors that gave poor advices.

Their advice it's have a huge contribution in a certain project and mostly investors will look into it. If they found out that they have a good advisors, investors will no doubt of investing them. But developers must also do their job to make their project succeed and not just letting it sleep in the market.

   Advisors has a huge and important rule on every business project. It is the one that responsible for the success of a project and on how the project going through. But of course there are different kinds of advisor,they have different plans and motives about some projects. There are good advisors which is really concerns and focus on the the success of one project.

 Advisors are good if they are really knowledgeable and professional in the field of specific project. They need to cover lack of expertise in certain fields within the team members. I don't believe in celebrity advisers. This is pure promotion. We should go deeper and google their professional record. Sometimes it's worse to contact the advisors directly and to communicate with them in order to get our own impression regarding their level involvement and professionalism. 

This is a very big problem there are many people that are willing to rent their faces for money, not understanding that many people could be deceived by thinking that they are part of the project when that is not the case, the developers of those coins know that, that is why they engaged in that practice which is dishonest to say the least, this is why it is very important to check not only the backgrounds of everyone involved in the project but also check how involvement in the project they really are.

In my opinion, projects should have advisors in both important areas: the first one is specifically the area of life where they would like to gain some sort of prestige and experience from well-known experts. The second one includes advertising on social media sites with a help of major influencers. With this combination, a young startup has a slightly higher chance of being successful. Having advisors does not mean that the team does not have to work hard to achieve their goals. On the other hand, any sort of help from them is welcomed, isn't it?

I believe that advisers are really important part of the whole picture. They are usually specialist in a narrow aria and their expertise is making big difference.

Veryyyyy controversial usually... You can end up with functionally useless advisors who happen to bring hype but no use. The only ones I'm really interested in are ones with serious subject knowledge who seem like they could offer development advice or ones who could directly / indirectly lead to potential future clients.

I have been in telegram for quite a while just reading messages from ICO owners and admins.
I can see they are really using this advisors pretty well.
There are rules that are not known by regular people and this advisors have the books for it.
They need them for that. This is kind of an odd question though. I didnt even expected someome will ask that.
Are you going to start an ICO?

Having a team of advisors in a project is essential in terms of picking their brains for in depth knowledge and strategies. These people are considered experts in their respective fields. And so their credibility precedes them. Even a country's president or prime minister will have a group of advisors to guide them in their decision making. A company's CEO will surely have some advisors in his board. Clearly, it is a need to have or to form a team of advisors in any major venture so as to largely contribute in its success (Unless you are a genius or super human where you can do everything on your own! 😉).

Yes, just as the team of a project is important, advisors are also important. If a project has good set of advisors, it adds value to the project and this has the tendency of attracting more investors. I have seen situations where a project was able to sell just because of the advisors. Had it been it never had those advisors, i doubt if it could succeed.

I doubt it, how people would risk their pride and big names for a few moments, if it had happened then the ICO project did not go as planned then the advisor would find it difficult to get a job as an advisor in another project

A project must have a clear advisor and an expert in the field, such as the genesis vision token he has a charlie shrem advisor which resulted in the project being very successful. charlie shrem is a member of bitcoin foundation he is very big influence on all projects he sheltered. so the success or failure of a project is very influenced by who its advisor

     LOL, nice advertising skills you have there mate. haha. Anyways, I seriously cannot say anymore. Because even with the fact that advisors really do a lot to make a project flourish, it is pretty obvious that nowadays, projects just put in various advisors that have names in this industry as much as they can if they can afford it not for their minds alone but for the hype of the project. So while I think advisors are important for ideas, they are also important to make a project more famous.

Strong or good or experienced advisors or partners in a project is a good sign that the devs are trying to develop their project well and make it popular and also increase trust ratings among investors

I don't think they perform an advisory role as they are called. They just display them on the page to show a public figure.

the Adviser should indeed experts and professionals in their field. his role is certainly very important for the sake of progress and success of the project. If this position only is underestimated only then only a small possibility of a project will be successful is appropriate.

They help to delete the possibility of having only one option. Sometimes, the fail of an ICO is directed to advisers. They also give some marketing strategy on how to steer the project the right way.

Depens it's really hard to understand the work they do in background, on some Ico for example you can never ear about them but they can bring over 50000 people on the project as investitors or as users after the project will born (Apps).

Having a great advisor in a project is one most important, why? These kind of people had a great long experience in different problem and strength in crypto. So thought from them can cause good platform. They will do suggestion and the problem can get in this world. So the team will find out the  solutio early as possible. So the project become successfull

Every advisors in new platforms have different roles and common things is to advise the developer on what expertise does the advisor have to improve the platform itself and attract more investor to recognize the project, also the advisor increase the trust issue on newly project if the advisor is known to the public and his/her field.

If the word "advisor" as carefully defined is used in the right sense, I would say yes every project needs an advisor. It should be mandatory. Without them is like driving a car without learning how to drive first. And those on the advisory board should be composed in such manner to uphold integrity and knowledge around the project at hand.

But what do I know? I hear lots of advisors are compromised and don't even know the term of reference for the job they do.

this industry (cryptocurancy) is getting bigger and more and more need for advisory board, which is experienced with various industry experience. in order to create a sense of security and comfort in conducting cryptocurancy activities.

i think that it is Always not bad to have some good an well known experienced advisors. But there are so many icos which Claim that vitalik buterin iss an advisors, but i doubt it he has his own projet to work on

There are elders in every field and we need to tap into their wisdom.They have experiences in the field we are new to and they know the ups and downs on the journey. So advisors are very important to ensure that we succeed in what ever we are doing now.We need to be advised on so that we can put up technical measures in everything we are about to do .this will help to reduce the risks of failure.

If the advisors are really active in the project then they are without a doubt very influential and give a lot of good things to the ico, but many advisors are only selling their image and are not actually helping the ico to become more successful, so at the end it will depend, there are advisors that are active and are very important for a project while those that are not do not really matter.