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.
Malta- you are correct, we did mention it in the past update... As I said, we are waiting on some laws and regulations on their end, nothing we can do to speed up their process. It's not a simple overnight task.
I honestly don't know what to tell you besides reiterating the same thing over and over. I've explained NUMEROUS times to you over the course of this month, in which NO NEW information has come out on our end. I'm not sure if you follow Maltese Law, but they are undergoing massive regulation changes involving crypto. We can't simply slide by that, just like how we can't simply slide by US regulations. We've spent a ton of money on lawyer fees getting everything sorted on our end for both US and European law.
You're still coming back to us complaining about money, when I gave you a explanation just a few weeks ago, and yet you are going to fire back with the exact same statement. A year ago you seemed to believe you could start an exchange with less than $10,00, maybe now you understand that's not quite possible by watching our downfalls.
Both my team and I understand you don't like us. That part has been the most obvious for over a year while you continuously hit us down with nasty comments, whether the news was good or bad, further damaging our brand. Our contributors have a much better attitude than you, rather than constantly hitting us down at any given opportunity, they are sticking by us, not screaming about money and are giving support.
You're right, we only got 50k left, and I can tell you right now we got even less than that now that a few weeks have passed since then. It's going to be very hard to get off the ground now as volume would be very low as we have literally nothing left to actually pump volume into the exchange. Either way, we are pushing forward. Even with the laws, regulations, and money against us. Our contributors all have the up-to-date information and we will keep pushing forward until we either launch or can't push anymore.
We've been working on this for over a year now and are not going to let one developer make make us "lower our heads in shame", if that's the way you perceive things then maybe you should go ahead and put your head down yourself.
-CB
