tempus:
I agree mostly with what you said. I do however think that part of the problem which you have not identified is the demographic with which 'CFC' are targeted at. Clearly, the crypto space is largely full of people who entered due to greed. The days of raising thousands of bitcoins through crowdfunds is mostly over.
I think it's maybe the other way around. I don't want to say you're wrong and that it's easy right now to start a project with a CFC. Maybe it was easier in 2014. But on the other hand I believe that Crypto is at the very beginning and growing. It's a time of great innovations but also a time of Fraud and failures.
Compared with what I believe will be the future, and I'm convinced that Crypto will be a big movement in the future and a gamechanger in many aspects (financial, social networking, the internet as a whole), this project isn't too late. Maybe it's too early. For me it seems a little bit paradox, that "the Cryptocommunity" is often betting on projects that are already dead, even if they get pumped right now. Too many believe they can make a little profit out of a hype, hoping they'll be out before the pump-groups dump... Crypto would be perfect if Investors would focus on projects they really believe in, focus on innovation and longterm. The little profit some maybe make with Crap is nothing compared with the profit we could make with legit and innovative projects. That's just my point of view, but I'm pretty sure the future will show that I'm right about the coming dynamics. And that's why I'm investing in projects I see innovation and longterm-qualities. And this is one of those projects I'm sure to see that because it's not just about a payment-system. It's also about social-network and much more.
Neucoin is a little exception and despite it being 'just another' coin. They have put together a much better marketing campaign (newsbtc, cointelegraph adverts everywhere) as well as some organised content for people to do their own reading. Factom had given dozens of lectures as well as ran QA, AMA's etc. for months and months running up to their crowdsale, and selling 2-3 thousand bitcoins was probably justified.
I'm watching the "Neucoin-Story" and in my eyes it absolutely has no chance. Besides the fact that they still have nothing to show but marketing, the distribution is a joke. 3% of all coins to the community, 80% to "non-profit-organizations" and the rest to some buddies... And non-profit in Crypto? Really? ;-)
R3D on the other hand, have a very feature packed announcement thread, but little to no prior community interaction, or really any material at all. That is not to say I do not believe their ability to produce, but its just the literal comparison between projects that are asking for the same order of magnitude funding seems to show that R3D team still have a-lot of work ahead of them to convince people to invest into their project.
As I said: I also think it needs more PR, more attention and a growing dynamic. But it's also about the Crypto-Community itself because that dynamic would start instantly if people would be more interested in innovation and focused on longterm-qualities and the big profit, instead of invest like gamblers playing roulette. My personal goal is to look back in some years, being proud that I made money out of investing early in innovations. And this is one of those projects I believe to see it all.
I would suggest that some Seed funding, and venture capital might be a better way to approach this crowdfund. The larger majority of people who will likely invest to this are only hoping to sell for profit in the short term and will probably fail to see the bigger picture like larger investors would.
Yes, could be right. That's why I'm constantly repeating that people should do some research, reading the Ann, thinking about it, following what they'll show, reading Syntaks Posts to recognize that this isn't "just" legit. They obviously have a very skilled team etc. And everybody who does that will understand that this project also includes very interesting economical aspects. It can grow out of itself if it's used. And therefore it's a combination of Crypto and social network... it has a lot of potential to grow fast. That's the reason why I say it's maybe too early, not to late. The future of Crypto will be a combination of social network, payment etc. Innovation that will be a base for innovations. And it's a counterpart to some destructive dynamics we see in all countries around the world: increasingly censorship... I'm not just speaking about China. We see that in the middle east, Russia, but also in the USA and Europe. Something like this will be wanted and needed and used. That's why I really would like to see that they can start it.
