This post is a bit longer so bear with me please… you won’t regret reading it whole. I promise.
Whole article is about two people (crypto enthusiasts) trying to create FIAT-CRYPTO Exchange and how it can go really bad when you are trying to do it DIFFERENT(ly).
More than 80 percent of initial coin offerings (ICOs) conducted in 2017 were identified as scams.
Source:
https://cointelegraph.com/news/new-study-says-80-percent-of-icos-conducted-in-2017-were-scamsIt is more than we expected, but we had this information in mind since day one. Therefore we incorporated legit transparent company, developed MVP for our users to try and show that we are capable of creating such platform and established EV-SSL certificate on our website. On top of all we have uploaded complete documents of incorporation to our website.
70% of ICO Tokens Are Not Exchange Listed and Probably Never Will Be
Source:
https://news.bitcoin.com/why-70-of-ico-tokens-are-not-exchange-listed-and-probably-never-will-be/There is simple answer for this. We are Exchange. Afraid of not listing our own native coin on our own Exchange? I can’t see any logic behind it. I would call native coins of any Exchange as a death-proof. All I was reading was “when lambo?”, “when binance?”,”when jail?”.
These are the facts. Some ICOs are riskier than others. It depends on what you are looking for and if you are doing your own research of just following hype.
PART 1:
My favorite quote that I have been following since 2012 in business in general:
”WORK HARD IN SILENCE, LET YOUR SUCCESS BE YOUR NOISE.”
Now I know that this quote is total bullshit. We have been working hard in silence on this project since 05/2017 to bring minimum viable product to our users. We wanted to be different than other ICOs that had eye-candy landing page, whitepaper and payment processor. I remember time when I was coming to the office on Monday morning and leaving on Friday evening. No bullshit. We still have foldable beds in our office I can take a picture of them.
When you are working hard in silence you don’t have time to actively discuss topics on bitcointalk or reddit or any other forum to create HYPE. Hell you don’t have time for your own family. And you are creating new accounts when you finished the job. Like we did with our MVP. Here comes the problem. With brand new accounts, you’re done. You can’t add pictures to your post, then it looks like shit, you now, usual stuff, newbie, 1st post.
There are only 2 people in our CORE team, where each one of us does have strengths and weaknesses. I will be working 24/7, testing, calling, managing, negotiating, flying around the globe, whatever is needed but give me marketing to do, I’m lost. Similar with our CTO. He is able to code A.I. if you will ask politely, but if you need eyecandy graphic, no chance. Just kill him.
Yes there are only 2 people in Coinepic core team… like Steve Jobs and Steve Wozniak or Bill Gates and Paul Allen. It is possible even for one person like Jeff Bezos to create powerful product. Don’t tell us two people can’t achieve great things. They can!
We were spending a lot of money on things that you don’t see but we considered them as most important. Dual-CPU 40 core custom build redundant server with price nearly 20 000 euro each, a lot of money went to lawyers. Not to mention other hardware, office, etc. My first bet were 2 law firms in London. I don’t want to reveal their names because with lawyers you never know. I will just call one of them FuckingExpensive LTD and second one let’s just call SlightlyLessFuckingExpensive LTD. We left a fortune with them to make LEGAL structure of planned 20+ companies all around the globe. Why? We wanted to be sure that there is anything that can go wrong.
What went wrong was marketing. I didn’t see that coming...
PART 2:
Our initial idea back in 5/2017 was something like this. Finish MVP and promote it with Google and Facebook Ads. First there was Facebook ban, not big a deal we though, we still do have Google… not. Here comes the creative panic part of promotion. As new account on bitcointalk I was not able to create website with pictures, my [ANN] went directly to page 124329832 after like 5 minutes. Plan B try to get Facebook whitelist or Google whitelist. Not a chance even after a month of trying and negotiating. Double panic. Facebook posts. I will describe them later but first I have to mention these two recent tweets. Hilarious.
I have tweeted Elon Musk if he would like to Join our project. Any reply from him? Unfortunately no.
Link:
https://twitter.com/kuco_miroslav/status/1041009912233578496And yes I have Tweeted Google and Facebook to go fuck themselves for banning all ADS. And you now what? Nothing happened at all. No reply, no re-tweet no hate...nothing. I haven’t ended up like Justine Sacco. It would be some progress at least.
Link:
https://twitter.com/kuco_miroslav/status/1041238599226859520I will tell you why I did that and why I will gladly do it again. For the last 2 months I was trying to promote our Pre-ICO. For the last 2 weeks I was trying to promote on Facebook. I’ve started to adding myself to all different sorts of Bitcoin, Cryptocurrency, Investments and Venture groups. My Facebook profile is legit and registered somewhere around 2008. Like your normal personal profile you are using everyday. First side effect was, that suddenly my newsfeed was flooded with spam and scam. So many of it that I was no longer able to see posts from my friends.
You gotta do what you gotta do. Who will give better credibility to a project than CEO himself… but it had a downside. That thin line you are balancing on. If you will get BANNED you are done with both promotion and your legit profile. So you will end up being very careful. In other words achieving nothing at all. If you are scammer you don’t care about banning your 2 hour old profile. You will make another one and continue.
Let’s get to Facebook Groups promotion itself. I’ve created perfect post. Who we are, what we want to achieve and what our investors will get in return. Fingers crossed while posting aaaand… nothing. It immediately went 20 posts down under scam posts. Just to name a few hilarious:
-------------------------------
Want to invest $1? There's a legit site. Minimum investment is $1 and earn 130% after 24 hours
--
CONGRATS MR RICHARD ON YOUR SUCCESSFUL WITHDRAWALS. DON'T WASTE YOUR MONEY ON FAKE WEBSITES. HERE I'M MAKING 0.5BTC ($3,200) IN 24HRS WITHOUT SENDING MONEY OR BITCOIN TO ANYONE.....JUST TYPE INFO AND INBOX ME.
--
Claim 2000USD in Bitcoin every 22hrs,Type INFO and I'll send all the info
--
Congrats to the people who invested and gained from my program. I will be teaching 50 people only how to earn 6btc in 2days without sending money to anyone. Ask me how or inbox me
-------------------------------
Literally scam after scam after scam. So much scam that I wanted to puke. And people think that most of it is legit. But no, legit company is not allowed to promote on Google or Facebook. Take care of this scam first you scumbags.
As I was writing this post, my friend sent me this link:
https://fitvitalik.io/Like fucking really? I don’t understand this world anymore. We’re running fully transparent Pre-ICO where you can’t create HYPE like this and you can’t fake volume for raised money to be honest to investors and this website will hit you with 33ETH raised? Maybe it was just a bad idea to run transparent Pre-ICO.
From time to time I am seeing post that “I have been scammed, please help!” We could use that money better on legit project. After everything that we have been through I would be surprised if one normal comment will appear. If you want to punish us for not having eyecandy design, that’s ok. If you want to punish us for not having full powered trading view with all features that’s ok. But remember that only two people are involved. We’re not gods or robots, just crypto enthusiasts with a vision to change things and something that we call minimum viable product. We are not able to open all those companies without your help. We have had Coinepic UK but had to suspend due to high running costs. I hope we will be re-opening.
LINK:
https://beta.companieshouse.gov.uk/company/10838303I will be happy for any constructive reaction.
I rest my case.
Miroslav Kuco
CEO&Co-Founder
Coinepic Exchange
coinepic.com
mail:
ceo@coinepic.comphone: +421 917 857 992
telegram group:
https://t.me/joinchat/I_r_1EiVHIFgt2NVuVWf4g
