Since this thing is marketed as the next big thing because of the affordable price of masternodes I looked into it. From where I stand I wouldn't even risk a dime and usually I don't mind giving a couple hundred into a small project here and there. But this thing has scam written all over it. If I'm wrong I'm open to be educated here by the devs. So let's start:
1. No Github activity. no-no
2. No real exchange listings. Not much of a surprise since the ICO didn't raise that much and exchange listings are expensive nowadays.
3. 2 devs on the team and several bankers. So at the moment over half of the team can't really contribute with regard to R&D. The videos on the Facebook page of one of those guys are just ridicolous. Which Asset Manager who wants to be taken seriously makes a promotional video with his phone on a balcony? You wonder why nobody underwrote the ICO?
3. Website registered to a PO box in Panama. Are you for real? lol
see yourself
https://www.whois.com/whois/stashpay.ioMy guess is the devs will dump what they can at the first pump since the ICO didn't really pan out. These are just my 2c though. I don't have to be right but lots of red flags here.
One more thing. I know a lot of people are saying they are working on a product. But to be honest there are other projects out there where people worked for years and are still working before even considering issuing tokens. Here no work was done at all except for a little bit marketing on the website. You can get this stuff done on upwork for a couple of hundred bucks. I mean I can also market an ICO an hire people afterwards to do the heavy lifting. Anyone can do this.
We believe the StashPay project has a promising future and will do everything in our power to develop the best product we can. We want to make sure the community is fully informed with the facts. Hence in regards to the points made above our responses are as follows:
1. Yes it is true that right now the StashPay Github only has the STP contract code. However the team also uses a private depositary which will progressively be made public once parts of the code our tested and ready to be released. We encourage everyone to keep an eye on the StashPay Github, we will provide an update to the community once we start to make code public so everyone can review.
2. The STP tokens is currently listed on Ether Delta and Idex to which you can find the links below.
https://etherdelta.com/#0xecd570bbf74761b960fa04cc10fe2c4e86ffda36-ETH https://idex.market/eth/stpYes these are smaller exchanges but as mentioned exchanges these days can charge very high fees to list. The team's core focus at this stage is development not day to day fluctuations in the token price. Ultimately the product development will dictate the value of the project and will open up the door for the token to be traded on larger exchanges once StashPay.io is launched.
3. We view having finance professionals on the team as an advantage for the project. For a Cryptocurrency to be successful it is important to understand the economics and incentives of the project in addition to having a good development team. Over time we plan to attract additional developers to the project and partner with external development companies to leverage our in house team.
4. The link provided to the website registration and address is for Whois Guard. It was provided automatically by our hosting provider when the StashPay website was set up. Anyone today can register a website anywhere in the world we don't see how this is an issue.
In terms of the team dumping their tokens on first "pump" this is simply not true. As those that have knowledge of the project would know that all team and advisor tokens are frozen and cannot be traded on the Ethereum blockchain. Everyone can read the STP smart contract to check this.
In order for the team tokens to have any worth the StashPay team must deliver a project of value. Clearly this aligns the team's interests with all StashPay (STP) owners.
Lastly we understand and expect that some people will call StashPay a scam as we have seen Bitcoin, Ethereum, Dash and may other great projects get called a scam also. It's unfortunate that some people have been and will be misled by such false claims.
Ultimately the value of the StashPay project will be based on the quality of final blockchain developed. The StashPay team is committed and will continue to work hard to deliver the best project we can. We believe StashPay will have many attractive features such incentivised nodes, high transaction capacity, instant transactions and low transaction fees that once fully implemented will appeal to the crypto community.
Regards
StashPay Team
