[ANN] BITUGENE - The First Petroleum/Crude Oil Blockchain Project

[ganeshramk]

This looks interesting but did you even think that you ask too much for this coin on ICO? Others devs has pays from their own pocket the list on exchanges, anyway if you want money for exchanges and some money for your effort you should ask lower in my opinion. Let's say you gather 1.000.000 $ , what you will do with this funds?

Use of funds is clearly written on the Whitepaper. The highlights are:
Legal and advisory
•   Marketing and advertising
•   Incentives on the network
•   Administrative and general business expenses
•   Application development
•   Operational costs
•   Financial analytics
•   Reserve
•   Maintenance

You made a comment on how you want to use the funds later on. But I guess this does not give answer about why it is expensive? That is what he means with why you ask too mcuh for your coin?

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[Bitugene]

This looks interesting but did you even think that you ask too much for this coin on ICO? Others devs has pays from their own pocket the list on exchanges, anyway if you want money for exchanges and some money for your effort you should ask lower in my opinion. Let's say you gather 1.000.000 $ , what you will do with this funds?

Use of funds is clearly written on the Whitepaper. The highlights are:
Legal and advisory
•   Marketing and advertising
•   Incentives on the network
•   Administrative and general business expenses
•   Application development
•   Operational costs
•   Financial analytics
•   Reserve
•   Maintenance

You made a comment on how you want to use the funds later on. But I guess this does not give answer about why it is expensive? That is what he means with why you ask too mcuh for your coin?

Honestly, it is not too much. Simply do the math. Compare our token supply/price and other ICOs. Would you rather prefer 100 million tokens at a price of $0.1? It will equal ours with 10 million supply. However that's not the basis of our price. While drafting the project, we planned to keep the supply low. Take a look at our minimum goal and hard cap. The price quickly came into the picture as soon as we arrived at the total token supply.

[3ooCox]

After reviewing the whitepaper for the second time I'll post additional opinions, besides the one describing that Bitugene is concerned also about unforeseen impacts and side effects.

• The project is set-up on a very well elaborated basis describing the aspect of petroleum industry, its role, issues and solutions. The main approach is straight, clear and complete transparency is taken seriously. It is written that if the funding do not suffice the pre-set limit at the end of the crowdsale all the funds will be refunded. (take note)
  
  The team is determined and ready for implementation.
  
  
• The business model diagram is strictly schematic, which is common at this point and also appropriate. However, the execution of plan is very important and two or three most important elements of the model (those which induce rapidly the flow and improve profitability right at the beginning) should be presented in details or at least with additional specifications. Any potential investor will demand for action plans of each mission or task. Therefore, the project is lacking methodology-wise detailed information.
  
  The concept has a lot to show, so it should be pointed out. Focusing on marketing strategies comes at a later stage. What 5000 members can do today on telegram channel, later can be achieved by 1 PR specialist in a couple of days.
  
  The coherence of the three sectors (upstream, midstream and downstream) is very important. This is shown in the document. What's missing is an example representing how to bind those into the dimension of flexibility and scalability.
  
  
• You should concentrate on standards. All ongoing projects rely on blockchain as a universal solution. It might be, although so many activities and blocks of data flying around each second ? That produces at least the same amount of disinformation. Without well defined standard procedures and backup-plans and not knowing how to react when something unwanted gets triggered, the whole structure can stall. A system like that could suffer consequences. See what crypto kittens did ? All the transactions have been jamming for several days now. ETH curve fell because of some digital pet.
  

The only trouble I see is that there is no article, no scientific paper or any other sign of the expertise published on the web and stating at least one of the team members. That's abnormal as well as the length of this post.

[allfriends88]

I looked into the roadmap of BITUGENE in a detailed manner now. You have lots of plans. I could not easily understand when the product is expected to launch? Or do you already have product and existing business?

Thanks for the question. The Bitugene Foundation has a list of products/applications we plan to work on as is evident in the Roadmap. After the main crowdsale, the product will be released one after another in phases. Take a look at the Roadmap.

Thats clear answer. I am aware of the new products coming one after the other. I was not aware of already existing product. Thats why I raised the question.

Do we have Pre-ICO progress counter in the website? I could not see that anywhere in the website. Is it possible to have that counter in the website, so that others follow it in real time which will also attract many invesotrs basically.

I agree whether following the counter on the site can attract a lot of attention to the investors.
but hopefully this project successfully and runs with appropriate expectations. and may become a successful team.

[ganeshramk]

How do I get in on this?

I don't understand your question. Could you please elaborate on it? You mean Airdrop?

[Bitugene]

How do I get in on this?

If you mean to participate in the PreICO, details of how to participate are available at our website. (http://bitugene.io/contribute.php)

[ganeshramk]

I looked into the roadmap of BITUGENE in a detailed manner now. You have lots of plans. I could not easily understand when the product is expected to launch? Or do you already have product and existing business?

Thanks for the question. The Bitugene Foundation has a list of products/applications we plan to work on as is evident in the Roadmap. After the main crowdsale, the product will be released one after another in phases. Take a look at the Roadmap.

Thats clear answer. I am aware of the new products coming one after the other. I was not aware of already existing product. Thats why I raised the question.

Do we have Pre-ICO progress counter in the website? I could not see that anywhere in the website. Is it possible to have that counter in the website, so that others follow it in real time which will also attract many invesotrs basically.

I agree whether following the counter on the site can attract a lot of attention to the investors.
but hopefully this project successfully and runs with appropriate expectations. and may become a successful team.

There are couple of things Bitugene can do in order to be successful in the ICO. I mention the most important things here in this forum and I hope team listen and implement it. If some others have objection or arguement, please share it here.

First most important aspect is usage of other crypto currencies for buying tokens in ICO. like bitcoin, ltc, and dash even is getting popular. FIAT currencies are also getting attention nowadays to buy tokens. I have seen more ICOs getting successful when they have this multiple currency provision for participating in ICO.

[nxnqauff]

After reviewing the whitepaper for the second time I'll post additional opinions, besides the one describing that Bitugene is concerned also about unforeseen impacts and side effects.

• The project is set-up on a very well elaborated basis describing the aspect of petroleum industry, its role, issues and solutions. The main approach is straight, clear and complete transparency is taken seriously. It is written that if the funding do not suffice the pre-set limit at the end of the crowdsale all the funds will be refunded. (take note)
  
  The team is determined and ready for implementation.
  
  
• The business model diagram is strictly schematic, which is common at this point and also appropriate. However, the execution of plan is very important and two or three most important elements of the model (those which induce rapidly the flow and improve profitability right at the beginning) should be presented in details or at least with additional specifications. Any potential investor will demand for action plans of each mission or task. Therefore, the project is lacking methodology-wise detailed information.
  
  The concept has a lot to show, so it should be pointed out. Focusing on marketing strategies comes at a later stage. What 5000 members can do today on telegram channel, later can be achieved by 1 PR specialist in a couple of days.
  
  The coherence of the three sectors (upstream, midstream and downstream) is very important. This is shown in the document. What's missing is an example representing how to bind those into the dimension of flexibility and scalability.
  
  
• You should concentrate on standards. All ongoing projects rely on blockchain as a universal solution. It might be, although so many activities and blocks of data flying around each second ? That produces at least the same amount of disinformation. Without well defined standard procedures and backup-plans and not knowing how to react when something unwanted gets triggered, the whole structure can stall. A system like that could suffer consequences. See what crypto kittens did ? All the transactions have been jamming for several days now. ETH curve fell because of some digital pet.
  

The only trouble I see is that there is no article, no scientific paper or any other sign of the expertise published on the web and stating at least one of the team members. That's abnormal as well as the length of this post.

I am looking into this project from day 1. I really see your last highlighted point. I hope to see some articles or any published content from the developer even though this is not common in this crypto world.

btw, length of this post is not abnormal. I simply see it as good post from a person who have good knowledge in this field. Keep questioning here. So that I will also learn to ask basically.

[ganeshramk]

After reviewing the whitepaper for the second time I'll post additional opinions, besides the one describing that Bitugene is concerned also about unforeseen impacts and side effects.

• The project is set-up on a very well elaborated basis describing the aspect of petroleum industry, its role, issues and solutions. The main approach is straight, clear and complete transparency is taken seriously. It is written that if the funding do not suffice the pre-set limit at the end of the crowdsale all the funds will be refunded. (take note)
  
  The team is determined and ready for implementation.
  
  
• The business model diagram is strictly schematic, which is common at this point and also appropriate. However, the execution of plan is very important and two or three most important elements of the model (those which induce rapidly the flow and improve profitability right at the beginning) should be presented in details or at least with additional specifications. Any potential investor will demand for action plans of each mission or task. Therefore, the project is lacking methodology-wise detailed information.
  
  The concept has a lot to show, so it should be pointed out. Focusing on marketing strategies comes at a later stage. What 5000 members can do today on telegram channel, later can be achieved by 1 PR specialist in a couple of days.
  
  The coherence of the three sectors (upstream, midstream and downstream) is very important. This is shown in the document. What's missing is an example representing how to bind those into the dimension of flexibility and scalability.
  
  
• You should concentrate on standards. All ongoing projects rely on blockchain as a universal solution. It might be, although so many activities and blocks of data flying around each second ? That produces at least the same amount of disinformation. Without well defined standard procedures and backup-plans and not knowing how to react when something unwanted gets triggered, the whole structure can stall. A system like that could suffer consequences. See what crypto kittens did ? All the transactions have been jamming for several days now. ETH curve fell because of some digital pet.
  

The only trouble I see is that there is no article, no scientific paper or any other sign of the expertise published on the web and stating at least one of the team members. That's abnormal as well as the length of this post.

I am looking into this project from day 1. I really see your last highlighted point. I hope to see some articles or any published content from the developer even though this is not common in this crypto world.

btw, length of this post is not abnormal. I simply see it as good post from a person who have good knowledge in this field. Keep questioning here. So that I will also learn to ask basically.

nxnqauff is right. I have never seen article or scientific paper for such projects atleast to go to ICO. normally they publish whitepaper which bitugene is having in their website.

[3ooCox]

...

I am looking into this project from day 1. I really see your last highlighted point. I hope to see some articles or any published content from the developer even though this is not common in this crypto world.

btw, length of this post is not abnormal. I simply see it as good post from a person who have good knowledge in this field. Keep questioning here. So that I will also learn to ask basically.

Apart from moderator's thread introduction, describing project, aidrop and bounties rules, people don't read posts very carefully here on bitcointalk as replies rarely contain valuable information. Nice to see someone reading all that and thank you for your constructive opinion.

[3ooCox]

...

I am looking into this project from day 1. I really see your last highlighted point. I hope to see some articles or any published content from the developer even though this is not common in this crypto world.

btw, length of this post is not abnormal. I simply see it as good post from a person who have good knowledge in this field. Keep questioning here. So that I will also learn to ask basically.

nxnqauff is right. I have never seen article or scientific paper for such projects atleast to go to ICO. normally they publish whitepaper which bitugene is having in their website.

ganeshramk, I don't think nxnqauff was refering to project's documentation. And neither did I. Read again, we both meant information about team member's previous work, their references. Search for any name listed on bitugene website, no pertinent results show up. None. I find that odd as it is stated that they are experts. Every serious expert can be looked up using any search engine. In any case, at least information about professional work is available. That's not the case for bitugene. Help us out here and pass some references to prove the credibility of people standing behind the scene.

For example, Oliver Komarov with an MBA and 35+ years of experience and Samuel Haven, data scientist and computer scientist - it's like they were ghosts.

[ganeshramk]

...

I am looking into this project from day 1. I really see your last highlighted point. I hope to see some articles or any published content from the developer even though this is not common in this crypto world.

btw, length of this post is not abnormal. I simply see it as good post from a person who have good knowledge in this field. Keep questioning here. So that I will also learn to ask basically.

nxnqauff is right. I have never seen article or scientific paper for such projects atleast to go to ICO. normally they publish whitepaper which bitugene is having in their website.

ganeshramk, I don't think nxnqauff was refering to project's documentation. And neither did I. Read again, we both meant information about team member's previous work, their references. Search for any name listed on bitugene website, no pertinent results show up. None. I find that odd as it is stated that they are experts. Every serious expert can be looked up using any search engine. In any case, at least information about professional work is available. That's not the case for bitugene. Help us out here and pass some references to prove the credibility of people standing behind the scene.

For example, Oliver Komarov with an MBA and 35+ years of experience and Samuel Haven, data scientist and computer scientist - it's like they were ghosts.

Team is busy at this moment with their presales and issues around Eth network. I certainly see your point about team members details and I am sure team will attend to it. Probably a linkedin profile would do the needful. Trust start from the team not just product area. Nice point to be noted for the team.

[Bitugene]

Hello everyone, it is crystal clear that the Ethereum network is facing a hard time completing transactions. For this reason, the team members and advisors have deemed it fit to put the PreICO on hold. We are currently integrating a user system and a Bitcoin payment system. A new date will be communicated to everyone.

We will address every issue raised in due time.

[3ooCox]

...

I am looking into this project from day 1. I really see your last highlighted point. I hope to see some articles or any published content from the developer even though this is not common in this crypto world.

btw, length of this post is not abnormal. I simply see it as good post from a person who have good knowledge in this field. Keep questioning here. So that I will also learn to ask basically.

nxnqauff is right. I have never seen article or scientific paper for such projects atleast to go to ICO. normally they publish whitepaper which bitugene is having in their website.

ganeshramk, I don't think nxnqauff was refering to project's documentation. And neither did I. Read again, we both meant information about team member's previous work, their references. Search for any name listed on bitugene website, no pertinent results show up. None. I find that odd as it is stated that they are experts. Every serious expert can be looked up using any search engine. In any case, at least information about professional work is available. That's not the case for bitugene. Help us out here and pass some references to prove the credibility of people standing behind the scene.

For example, Oliver Komarov with an MBA and 35+ years of experience and Samuel Haven, data scientist and computer scientist - it's like they were ghosts.

Team is busy at this moment with their presales and issues around Eth network. I certainly see your point about team members details and I am sure team will attend to it. Probably a linkedin profile would do the needful. Trust start from the team not just product area. Nice point to be noted for the team.

Thank you for the reply. linkedin profiles would be more reassuring. Will keep following this thread and the progress of the project. Wish you all good luck ! And those cats will eventually calm down and let you work in peace.

[cryptossi]

Can we still RT Tweets or does it no longer count?