[ANN] [EXCHANGE] Bitmora - Digital Asset Exchange

[Ais08]

Hello everyone. As you may have noticed, our scheduled beta launch did not happen. We did not foresee this and we are not proud of it ourselves. One of our head developers had an issue arise and without him here on Saturday, launch was impossible. Our team went to sleep Friday night expecting to wake up to a functional exchange but instead woke up to a nightmare scenario that not only disrupted our team’s holiday weekend but also served as a major setback for the entire project.

We have already started hiring new developers to help us move forward. Two weeks ago, we said we would make up for the delay by adding new features and polishing our user experience, and we did, up until Saturday. No one on our team planned for this, and we are all filled with regret and disappointment. With that said, we must move forward. We expect to have a platform ready to bring online later this week, however trading might not be immediately available. Trading should be enabled shortly after platform release, at which point beta will officially launch and will last an expected 4-6 weeks. Beta will only be open to contributors, and we expect many several changes during this period, including both UI updates and the addition of new features.

What happened Saturday hurt our contributors, investors, bounty participants, and us. The followers and supporters of Bitmora makes for a rather small community and we rely on each and every one of you to spread the word of our movement throughout the crypto community and we feel we have let you down. We will make this right, but we have a lot of work to do internally to make that happen. We will keep everyone updated over the coming days, we hope to have good news soon.

Really sorry to hear this. But please make absolutely sure, that the next launch day will work out. Don't set another date you can't keep up with or people will lose trust.
I am still completely behind the project though!

Often times I see on every project that has gained the trust of the entire community, at least they have prepared everything to make it look like they are really ready to run a quality project, and not just a protective promise to manipulate every question everyone asks. .

[Bitmora]

Hello everyone. As you may have noticed, our scheduled beta launch did not happen. We did not foresee this and we are not proud of it ourselves. One of our head developers had an issue arise and without him here on Saturday, launch was impossible. Our team went to sleep Friday night expecting to wake up to a functional exchange but instead woke up to a nightmare scenario that not only disrupted our team’s holiday weekend but also served as a major setback for the entire project.

We have already started hiring new developers to help us move forward. Two weeks ago, we said we would make up for the delay by adding new features and polishing our user experience, and we did, up until Saturday. No one on our team planned for this, and we are all filled with regret and disappointment. With that said, we must move forward. We expect to have a platform ready to bring online later this week, however trading might not be immediately available. Trading should be enabled shortly after platform release, at which point beta will officially launch and will last an expected 4-6 weeks. Beta will only be open to contributors, and we expect many several changes during this period, including both UI updates and the addition of new features.

What happened Saturday hurt our contributors, investors, bounty participants, and us. The followers and supporters of Bitmora makes for a rather small community and we rely on each and every one of you to spread the word of our movement throughout the crypto community and we feel we have let you down. We will make this right, but we have a lot of work to do internally to make that happen. We will keep everyone updated over the coming days, we hope to have good news soon.

Really sorry to hear this. But please make absolutely sure, that the next launch day will work out. Don't set another date you can't keep up with or people will lose trust.
I am still completely behind the project though!

We’re going to get the beta platform out ASAP to contributors, however launch itself will be a very comfortable 4-6 weeks after. During beta we will slowly start to push out our education platform. We will ensure this can not happen again.

[Infek]

I hope that the launch will take place, and I would like to see how progress is going  in real time. And from when there is no news, this is ....

[cybercobro]

hopefully the project soon finishes, we are waiting for this, a very good project for sure.

[ragavancoin]

I am waiting past 4 months for get my final stakes for my signature campaign bounty from bitmora time but there not finished the spreadsheet updating still now and only saying bounty well distribution to bounty hunters to after bitmora exchange lunch.

[Ngewex Yuk]

I am waiting past 4 months for get my final stakes for my signature campaign bounty from bitmora time but there not finished the spreadsheet updating still now and only saying bounty well distribution to bounty hunters to after bitmora exchange lunch.

Yes it is true, I also signature bounty participant, even I have meet everything, but they have not paid.

[JollyGood]

I am waiting past 4 months for get my final stakes for my signature campaign bounty from bitmora time but there not finished the spreadsheet updating still now and only saying bounty well distribution to bounty hunters to after bitmora exchange lunch.

Such a sad state actually. Looked so promising one time but even if they get everything back on track it will take time to restore faith for end users.

Right now bitmora.com website is down

[JollyGood]

Still no news about the beta launch even though it has been over a week delayed. Exactly what was it the dev did or did not do before he left the company that could not be fixed even a week later?

[chennappa121]

Still no news about the beta launch even though it has been over a week delayed. Exactly what was it the dev did or did not do before he left the company that could not be fixed even a week later?

Still we will not get any news about the bitmora exchange beta when will going to launch and they will give only that soon bitmora beta going to launch lets see, and the bounty campaign spreadsheet is going to finalized this Sunday.

[Bitmora]

Our Weekly Review was just posted and includes many updates and answers to questions!
https://medium.com/bitmora/bitmora-weekly-review-june-4th-2018-931f070aa9d1

[lothok]

As I am awaiting the start of Bitmora i got some questions: Will it be decentralized or will it be centralized. And if the second, where is the location and will it be licensed in any form? Thx in advance for the info.

[p3ppymon]

As I am awaiting the start of Bitmora i got some questions: Will it be decentralized or will it be centralized. And if the second, where is the location and will it be licensed in any form? Thx in advance for the info.

Pretty easy to spot those info in the announcement. But, if you are lazy enough, I can help you with quoting these facts from the website.

Bitmora Inc.
4858 Mercury Street
Suite 210
San Diego CA, 92111

The exchange is centralised as they have a cold storage system.
Hope it helps.

[JollyGood]

Got to say this delay is extremely bad news for the reputation of Bitmora....

[kudil]

Got to say this delay is extremely bad news for the reputation of Bitmora....

Yes, all contributors waiting for a long time (me too), i hope in the next update news, the team of bitmora will say about Bounty Participants because bounty thread still not update 

[JollyGood]

Got to say this delay is extremely bad news for the reputation of Bitmora....

Yes, all contributors waiting for a long time (me too), i hope in the next update news, the team of bitmora will say about Bounty Participants because bounty thread still not update  

No sign of any update with real information about going live for the beta release and there was no mention about the developer, the security holes and how much money was spent on hiring the new developers and most importantly no information about when the bounties will be paid and no information about the viability of the business because nobody knows how much money is left in the kitty. There is no breakdown of how much and where the money raised has been spent.

[Bitmora]

Got to say this delay is extremely bad news for the reputation of Bitmora....

Yes, all contributors waiting for a long time (me too), i hope in the next update news, the team of bitmora will say about Bounty Participants because bounty thread still not update  

No sign of any update with real information about going live for the beta release and there was no mention about the developer, the security holes and how much money was spent on hiring the new developers and most importantly no information about when the bounties will be paid and no information about the viability of the business because nobody knows how much money is left in the kitty. There is no breakdown of how much and where the money raised has been spent.

All of those updates our been posted on our Weekly Reviews, we will not continue to remind you about bounty payouts or launch date in official company updates. All of that info has been covered numerous times, and has not changed. As always, people on our Telegram can ask their questions freely and many topics have been talked about in the past week.
As for money, we can see about releasing a public financial document, but nobody has bothered to ask. A lot of money was lost during Bitcoin’s drop in December-February, around 100k, that’s slightly our fault because we kept all funds in crypto (we no longer do that). Money spent is obviously scattered, but we’ve kept track of everything so some sort of pie chart can be made for the past, and future. Money left is around 50k.

[JollyGood]

The last update from the Bitmora team was on 15th June 2018 (nearly 2 weeks ago)

Surely they should be actively reassuring potential customers and existing investors by using all modes of communication regularly such as this forum and their other channels including Medium.

What confidence does anyone get from Bitmora? This seems to be a prime example of why investors get scared of investing. People get scared because the projects do not get launched on time, the milestones become a non-starter and the reasons/excuses for the delay are presented.

What is going on with Bitmora?

[JollyGood]

Still silence from Bitmora..... I am so glad I did not invest in this project and I feel sorry for those that did invest.

Why have the Weekly Updates not been posted? What are those investors supposed to do that have had enough of the situation and want their money returned to them?

[Bitmora]

Still silence from Bitmora..... I am so glad I did not invest in this project and I feel sorry for those that did invest.

Why have the Weekly Updates not been posted? What are those investors supposed to do that have had enough of the situation and want their money returned to them?

Hi, we keep people updated via Telegram. Weekly Reviews have not been posted because there's nothing to review. Development is moving 7 days a week, but beyond that it's pretty slow. No new partnerships, agreements, and Malta is on hold as well until they release their new set of laws. We are doing our best to bring a quality exchange for everybody. All of this information was given to our contributors and followers before we stopped sending Weekly Reviews.
I was hoping this past week the devs would be far enough to provide screenshots/video of the exchange, but it seems they're not quite there yet. By the looks of things it looks like this coming week our production environment will be ready to view so I can send some images out along with a Weekly Review.
As for contributors, if they've been following us on Telegram and/or asking questions, then they should be fully up to speed on the progress. As per our terms, contributions are not able to be refunded.
This coming week we will also release our new site (the pages that do not touch exchange functions), which should be done by Friday.

[JollyGood]

Hi, we keep people updated via Telegram. Weekly Reviews have not been posted because there's nothing to review. Development is moving 7 days a week, but beyond that it's pretty slow. No new partnerships, agreements, and Malta is on hold as well until they release their new set of laws. We are doing our best to bring a quality exchange for everybody. All of this information was given to our contributors and followers before we stopped sending Weekly Reviews.
I was hoping this past week the devs would be far enough to provide screenshots/video of the exchange, but it seems they're not quite there yet. By the looks of things it looks like this coming week our production environment will be ready to view so I can send some images out along with a Weekly Review.
As for contributors, if they've been following us on Telegram and/or asking questions, then they should be fully up to speed on the progress. As per our terms, contributions are not able to be refunded.
This coming week we will also release our new site (the pages that do not touch exchange functions), which should be done by Friday.

This whole situation is a complete disaster. The first mention of the company registration in Malta being postponed was in the previous post. You said well over a month ago that Malta was ideal and you should have done it earlier!

Now there is a reason to delay registration in Malta (new rules and laws). There was a reason for delaying the launch of the beta trading for investors (because the developer ran off). Then new developers are trying to launch the website but over a month later just have not managed it?

Colton, by your own admission you spent $250,000 and have just $50,000 remaining. You spent $250,000 of investors money and have nothing to show for it? You are playing with $50,000 of investors money trying to get the project launched with the live telephone operators from day one? Your $50,000 is more than enough to launch the project (just one website running on Alphapoint) using Alphapoint and their own whitelabel service.

This whole mess is something you created as a result of your own mismanagement. How many of those investors will bother investing in other projects because of the bad experience they had with Bitmora? Colton you and your fellow team member Elias should lower your heads in shame. You failed as a project manager.

How much is the Alphapoint whitelabel costing?
How much are you paying the developers?
How much did you pay the previous developer that ran-off?
How much did you spend on promotions and other expenses?

Will you provide a full breakdown so everyone can see exactly how badly you mismanaged the project with a dollar by dollar account? $250,000 spent and nothing to show!