tezos team break down.

[kernighan]

 


https://uk.reuters.com/article/us-bitcoin-funding-tezos-specialreport/special-report-backroom-battle-imperils-230-million-cryptocurrency-venture-idUKKBN1CN35K

[SGToken]

*sigh* more negative publicity for ICO's.

Has there been any positive publicity for ICO ever?

[thepo1m]

This is what happens when you have more fund than you can actually spend, they left the development of the platform due to infighting within the team. I hope all these  is resolved soon

[coingrow]

Calm down guys. I am sure this will be sorted out soon. Moreover there are no coins right now in the market so there should be no adverse effects like price drops, except for futures market, which by the way is still trading way above the ICO price.

[Siren]

This is what happens when you have more fund than you can actually spend, they left the development of the platform due to infighting within the team. I hope all these  is resolved soon

I can't remember but there was also one coin before that suddenly feel apart when its internal dev goes to fight one another. Another factor that was mentioned is about money. Some of them are really not able to cope with the huge amount of money being generated by their project. I guess when money is really involves, there will be so much bickering that will happened causing the team to break up. Really sad to see those though. They starting from nothing and when the project becomes successful, they all break apart.

[Lucky_U]

Bad news for those who participated in Tezos ICO.Big money broke the team. Do not agreed who gets Lamba 

[johnsm79]

Is amazing what is happening, all these ICO's are being damaged but cases like this with Tezos. I hope they resolve this asap.

[Phalo]

I read about this yesterday. I hope this gets sorted. It really does sound like an ugly power struggle. One would have thought that these things are discussed before taking investor money. Or it might be a case of them being way more successful than they thought they would be. Either way its bad for Tezos.

[JimiPorter]

I read about this yesterday. I hope this gets sorted. It really does sound like an ugly power struggle. One would have thought that these things are discussed before taking investor money. Or it might be a case of them being way more successful than they thought they would be. Either way its bad for Tezos.

They decided NOT to have a cap.. to me that sounds like a plan that is not made yet. If they did have a plan in place, they would have figured out how much money they need, how many coins are issued.. etc..

No hard cap= they just want lots of money

[cioloxl]

I read about this yesterday. I hope this gets sorted. It really does sound like an ugly power struggle. One would have thought that these things are discussed before taking investor money. Or it might be a case of them being way more successful than they thought they would be. Either way its bad for Tezos.

They decided NOT to have a cap.. to me that sounds like a plan that is not made yet. If they did have a plan in place, they would have figured out how much money they need, how many coins are issued.. etc..

No hard cap= they just want lots of money

Basically this. I, for one, never invest in ICOs for the long run. I only invest in the ones that are 100% solid, kyber being a good example, and then I immediately dump as soon as it hits the exchanges.

[makishart]

I read about this yesterday. I hope this gets sorted. It really does sound like an ugly power struggle. One would have thought that these things are discussed before taking investor money. Or it might be a case of them being way more successful than they thought they would be. Either way its bad for Tezos.

They decided NOT to have a cap.. to me that sounds like a plan that is not made yet. If they did have a plan in place, they would have figured out how much money they need, how many coins are issued.. etc..

No hard cap= they just want lots of money

I can say money grabber, Even eidoo is much better rather than shitty project just like teshit. And why? I remember that emir gun sirer just a kind to hype that shit project like tezos. Tezos is the biggest money grabber than The DAO.
Or might it be another DAO?

[serian]

It is unfortunate for investors. What was ICO price?

[withche.07]

This is why capable and patient development team is more important than money. You cannot buy humanity with money. This will make me never look into tezos same. Its half failed project in my eyes at least now.

[RichDaniel]

Tezos is highly overvalued and overestimated project, it is bad for ICO investors if they have such drama before the main net launches, will it launch or not in the future?

[MiddleFingerToTheMan]

It's very unfortunate. They just got too much damn money. They would need 15 million max to complete this project.
I think going forward there needs to be a restructuring of ICOs. It's ridiculous to think that a team can just access this entire lump of money straight away, where does the incentive to work & produce a protocol come from then when you've got 300 million in the bank!??
If the ICO is uncapped then the money should go into a locked up fund where an increasing % is released to the team after each milestone is reached. This % should get bigger as the team reaches the later milestones.

It's not over yet for this project, but it doesn't look good, especially this early.
What put me off investing was the fact that it was created by 2 people who worked on wall street! That immediately screamed that they were in it for the money.

Also one of the major selling points for this project was that it would be proof of stake. But with Ethereum planning to move to proof of stake, won't it make Tezos redundant?

[batang_bitcoin]

Tezos is highly overvalued and overestimated project, it is bad for ICO investors if they have such drama before the main net launches, will it launch or not in the future?

Too bad for the people that invest to this promising themselves that will get a good return and at the same time I feel sorry for them man. I can't ever imagine that they've raised $232 Million and that's the highest ICO so far that I know. I didn't invest to tezos but it is really overvalued and overestimated by many investors. I don't know what's in the mind of their devs, well they've got a lot of money now.

[SGToken]

Tezos is highly overvalued and overestimated project, it is bad for ICO investors if they have such drama before the main net launches, will it launch or not in the future?

Too bad for the people that invest to this promising themselves that will get a good return and at the same time I feel sorry for them man. I can't ever imagine that they've raised $232 Million and that's the highest ICO so far that I know. I didn't invest to tezos but it is really overvalued and overestimated by many investors. I don't know what's in the mind of their devs, well they've got a lot of money now.

It looks like most of top ICO(in terms of fund raised) are under performing. Better stay away from ICO and invest in BTC.

[UAE Seasider]

Really not sure what to make of the current newsflow from Tezos team.

I would like to think that cooler heads will prevail and the project comes back into balance again. Everyone can have a disagreement but work things out later, let's see if there is a calm resolution