Show Posts
ICO Analysis: BitSong
Published on August 14, 2018
By Joshua Larson
Proof: https://hacked.com/ico-analysis-bitsong/
Team
This is a rather large and spread out team. Lots of different countries involved and most of the team are former DJs/producers.
Angelo Recca: Co-Founder/CEO from Italy. LinkedIn says he has been CEO of this cloud storage company SpazioRC since 2012. Spazio has only one employee listed on LinkedIn and the twitter only has 340 followers and hasn’t been active since Novemebr 2017.
Rino Ticli: Co-Founder. The only work history listed is “DeeJay” since 2002. He doesn’t seem to be a very popular DJ/producer, either. He’s had Twitter since 2012 yet only has 800 followers that give him zero love or retweets.
Julian Anghelin: EMEA Manager. Despite typing a long and vague description of his skills, the only work history he has listed is as a publications guy for Royal Caribbean Cruises for ten months in 2016.
Giovanni Melfi: CTO and Blockchain Developer. Out of the 12 team members, he is the only developer. And it looks like he has no work history to brag about. He did describe himself on LinkedIn as follows:” Passionate about cryptocurrencies and blockchain, 2 languages speaker. Coming from an experience in software engineering and a passion for software development with some programming languages such as PHP. I participated in some group work on the robotic system, on linux programming and on StartUp Manager, and I think these experiences are the most important for professional growth.”
The website goes on to list 19 international DJs/producers that are supposed to be a part of BitSong. However, after checking all of them, only a couple ever mention BitSong. No mentions of the token sale.
The most popular is a guy named Tadeo, who gained almost 300,000 Twitter followers for being on an MTV reality show. He does not mention the BitSong crowdsale on his twitter.
Nicola Fasano is a DJ with 16,000 followers on Twitter.
Mossel is a DJ with 10,000 followers but doesn’t mention Bitsong ICO
Verdict
We usually don’t do analysis on projects that already had their pre-sale. However, after seeing these ratings, it seemed like our opinion was needed. These high scores are out of line. The only explanation is that the reviews were done a few months ago, before the bad news bears arrived to spoil everyone’s shill fest.
Nobody here expects YouTube, Spotify and record companies to just step aside while smart contract/blockchain projects move in. Said blockchain projects needs to be extra special with an extra special team in order to even stand a chance of competing.
Based on team inexperience and lack of MVP alone, this gets an unfavorable rating.
Risks
The team is not experienced at all in business or blockchain. -1
It doesn’t look like they will come close at all to reaching the hard cap. They have a large team and payroll. It’s going to take a long time for both BitSong and Ethereum to work properly. There’s a strong chance they run out of money by then -1
No MVP, only one blockchain developer listed on their team, plus many other small things that lead us to believe they might not be really trying to build this thing. -1
GitHub is not active at all. This supports the above theory. -1
Competition. The author has reviewed 4 different blockchain music ICOsin the last year. He ranks this one 3/4. -1
Growth Potential
Ambitious roadmap on page 15 of the whitepaper. +1
One of these blockchain music projects is going to be popular. BitSong has an outsiders chance. +1
The crowdsale will run for three months, ending in November. Perhaps the market will be bullish by then. +2
They make a really bold claim on their site about having 177,404 users. When asked who these users are, the reply was, “177,404 users interacted with our bot and registered in our wallet.” This is kinda hard to believe, but if true those type numbers will definitely help them scale. +3
Disposition
It’s just way too good to be true. The silver lining is that we’ve seen several projects succeed in the past with this same strategy. A brilliant whitepaper idea with no MVP, and an untested team. However, in today’s paranoid market, most investors are now needing evidence of work, not just a whitepaper and a dream. +2/10
It’s not just the white paper and the dream by BitSong team!Published on August 14, 2018
By Joshua Larson
Proof: https://hacked.com/ico-analysis-bitsong/
Team
This is a rather large and spread out team. Lots of different countries involved and most of the team are former DJs/producers.
Angelo Recca: Co-Founder/CEO from Italy. LinkedIn says he has been CEO of this cloud storage company SpazioRC since 2012. Spazio has only one employee listed on LinkedIn and the twitter only has 340 followers and hasn’t been active since Novemebr 2017.
Rino Ticli: Co-Founder. The only work history listed is “DeeJay” since 2002. He doesn’t seem to be a very popular DJ/producer, either. He’s had Twitter since 2012 yet only has 800 followers that give him zero love or retweets.
Julian Anghelin: EMEA Manager. Despite typing a long and vague description of his skills, the only work history he has listed is as a publications guy for Royal Caribbean Cruises for ten months in 2016.
Giovanni Melfi: CTO and Blockchain Developer. Out of the 12 team members, he is the only developer. And it looks like he has no work history to brag about. He did describe himself on LinkedIn as follows:” Passionate about cryptocurrencies and blockchain, 2 languages speaker. Coming from an experience in software engineering and a passion for software development with some programming languages such as PHP. I participated in some group work on the robotic system, on linux programming and on StartUp Manager, and I think these experiences are the most important for professional growth.”
The website goes on to list 19 international DJs/producers that are supposed to be a part of BitSong. However, after checking all of them, only a couple ever mention BitSong. No mentions of the token sale.
The most popular is a guy named Tadeo, who gained almost 300,000 Twitter followers for being on an MTV reality show. He does not mention the BitSong crowdsale on his twitter.
Nicola Fasano is a DJ with 16,000 followers on Twitter.
Mossel is a DJ with 10,000 followers but doesn’t mention Bitsong ICO
Verdict
We usually don’t do analysis on projects that already had their pre-sale. However, after seeing these ratings, it seemed like our opinion was needed. These high scores are out of line. The only explanation is that the reviews were done a few months ago, before the bad news bears arrived to spoil everyone’s shill fest.
Nobody here expects YouTube, Spotify and record companies to just step aside while smart contract/blockchain projects move in. Said blockchain projects needs to be extra special with an extra special team in order to even stand a chance of competing.
Based on team inexperience and lack of MVP alone, this gets an unfavorable rating.
Risks
The team is not experienced at all in business or blockchain. -1
It doesn’t look like they will come close at all to reaching the hard cap. They have a large team and payroll. It’s going to take a long time for both BitSong and Ethereum to work properly. There’s a strong chance they run out of money by then -1
No MVP, only one blockchain developer listed on their team, plus many other small things that lead us to believe they might not be really trying to build this thing. -1
GitHub is not active at all. This supports the above theory. -1
Competition. The author has reviewed 4 different blockchain music ICOsin the last year. He ranks this one 3/4. -1
Growth Potential
Ambitious roadmap on page 15 of the whitepaper. +1
One of these blockchain music projects is going to be popular. BitSong has an outsiders chance. +1
The crowdsale will run for three months, ending in November. Perhaps the market will be bullish by then. +2
They make a really bold claim on their site about having 177,404 users. When asked who these users are, the reply was, “177,404 users interacted with our bot and registered in our wallet.” This is kinda hard to believe, but if true those type numbers will definitely help them scale. +3
Disposition
It’s just way too good to be true. The silver lining is that we’ve seen several projects succeed in the past with this same strategy. A brilliant whitepaper idea with no MVP, and an untested team. However, in today’s paranoid market, most investors are now needing evidence of work, not just a whitepaper and a dream. +2/10
You have found a regular information and made your own statistics. That’s just your own opinion.
Take a look at the team closely, the people who are working on releasing this idea of the Blockchain share music platform.
I would not name it as a dream, I would say that BitSong is aim to share with people
Ok. On the one hand I agree with Fulanaw. He has made a great analytical work or he just copied from the Internet, doesn’t matter.
On the other hand I support Nastenasl4stena because he/she said the right thing about the dream and aim.
But anyway is always a pleasure people talks about us
