[ANN]BlockCDN:A application build on Ethereum smart contract

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Quote from: joskye on December 25, 2016, 06:44:57 AM

Hi guys,

I really wanted this ICO to succeed but the writing was on the wall for me weeks ago when I saw the lack of funding progress.

Just to explain to you why you've failed:

- Simultaneous mining reduced incentives to donate.

- Not publishing a detailed business plan on how much of the funds raised would be reserved for salaries, promotion, development, emergencies etc and when these funds would be used.

- Lack or organised daily promotional campaign to raise awareness several months *before* the crowdfund date.

- Using bitcointalk as a community thread. The quality of 'investors' here is shocking and bitcointalk itself is filled with a lot of junk data, junk talk and suggestions.

- The 3 year limit on token holders earning dividends; nice way to screw your investors over in the long term. From the community chatter I've read outside of bitcointalk this reason alone was the biggest one that stopped people from investing in your crowdfund.

- Lack of daily, active promotion and community engagement in forums where serious ethereum investors hangout e.g.

Ethtrader reddit
Ethereum reddit
Smith and Crown
ICO Countdown
Evan Van Ness Ethereum newsletter

You absolutely should *not* do staged crowdfunds, unless:

- You are willing to present detailed expenditure plans, roadmaps and goals to your community and
- Publish regular confirmations that the goals/roadmap is being reached before acquiring further funding.

I like that you have a public beta. I like that you are targeting a clear market with actual demand and provided a case to undercut and take a segment of that markets profits. I like the fact that you got an ex-barclays boss on board.

That suggests you will find a way to make this work. Unfortunately your horrible promotion at this stage shows me that while you may understand the CDN community, you absolutely do not understand the Ethereum community or blockchain investor community either.

I'd sack whoever was in charge of your marketing and get someone who understands crowdfunding. Try looking and imitating the strategies of Golem, Augur, Digix, Firstblood or any number of ICO's which reached their targets within day 1.

Good analysis! I agree with the lack of marketing and over optimism from the team that made them set a very high target for the ICO. Also the fact that the blockcdn token holders are entitled for dividends only for 3 years seems quite silly, anyone who had sense would realize that the team is planning to take advantage of the investors. A decentralized project should be there to benefit all the stake holders and not just the team.