We bought some Manutax Real estate Tokens any experience?

[crypt0fanatic]

Hello everyone,

I bought around 10 Mil Manutax 2 weeks ago. Many of my friends and family also decided to buy a handful of this coin since it was at a very low point.
According to the creator of Manutax they had put their coin to a 1 Satoshi price to attract more buyers. I assume they have reached many new buyers as the coin sell wall is quite active.

Unfortunately, after I had Bought my 6Mil manutax for around 6.000.000 Satoshi the Ethoshi wall of Manutax (Which was first at 28 Ethoshi and later crashed to 1 Ethoshi. At this point, we had lost all our hopes and didn't expect the coin to do anything again. Since we can not reach the developers behind the coin so it is hard to determine what the best step would be.

The website of them is www.manutax.com | Unfortunately, its very outdated and contains a few bugs.

I had emailed them around Christmass that we had bought their tokens on Cóinexchange and that I would love to hear what their short-term goals were.
They claimed to need 300 BTC before quitting the token sale. Unfortunately, we don't receive any new emails from them. Also, they are listed completely private and seem to be untraceable.

Manutax, however, seems to be doing alright on Coin exchange has the Ethoshi price is back at 7 and the Bitcoin sell wall has dropped from 70 BTC + to 32 Btc.

What we want to know is the following:

1: let's assume the developers have left the building and will not continue this project. (Is there still any hope that this Token can grow without the founders).
What I learned from Banking on Bitcoin is that Satoshi N also left Bitcoin but it didn't stop it from growing.

2: If the official team indeed has left the coin. Is there a way another group can take over in order to rebrand the coin in order to build a new community?

3: Manutax was most likely created with the Ether based Smart Contract system their wallet addresses look like "0xemd495...."  As someone told me this means the token could never be taken offline only unless Ethereum itself disappears, is this correct?

4: Before the Developers stopped answering we asked them if people that together with us decided to invest in the Manutax token were allowed to make promotion material such as Advertisements, Promo videos, A website. However, we are wondering what the consequences of that will be.  (Is it allowed to create a "Non-official" website to promote a coin)

5: Let's say someone wants to take over a coin and the developers really left the building. Could someone take over the Smart contract?


We do currently know a little about Blockchain technology. But we have a lot of experience with Marketing and a good team of people with interesting development skills. We only want to know what others advise us to do.

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[crypt0fanatic]

Hoping to receive a comment from someone that has more knowledge on Blockchain technology and coins that have unknown creators...

[arcanecrypto]

Hi,
I was doing some research on Manutax for a website and came across your post. I have a fair bit of experience in this space and can provide you with some of the answers to the questions you were asking. This post is old, so you may already have cashed out or found answers, but this should shed some light on the situation.


What we want to know is the following:

1: let's assume the developers have left the building and will not continue this project. (Is there still any hope that this Token can grow without the founders).
What I learned from Banking on Bitcoin is that Satoshi N also left Bitcoin but it didn't stop it from growing.

As cryptocurrencies are primarily supposed to be decentralised, their life depends on the community behind it. No community = No Token/Coin value = Worthless (dead) token. So yes, any coin/token can grow even if the creator leaves (this actually happens quite a bit), but only if the community is strong enough and committed enough to continue running it. Technical experience is also required.

2: If the official team indeed has left the coin. Is there a way another group can take over in order to rebrand the coin in order to build a new community?

Usually if the developers leave a project and it has been determined by a majority (consensus) of the community that this has happened, community members can take over the running of the project. Sometimes there isn't even a big enough community for the coin/token to continue and they become what is called a dead coin/token, which can be taken over, revamped, re-branded or forked, anything is possible.
If the community decides to take over, it is basically up to the consensus of the community to decide what happens to the coin/token in it's entirety.
Just remember that all coins/tokens are based on open source (or license free) code. Anyone can create a copy of any coin, so it is also safe to assume that there are going to be a lot of worthless coins/tokens created for the hell of it(or profit). Hopefully this isn't the case for Manutax

3: Manutax was most likely created with the Ether based Smart Contract system their wallet addresses look like "0xemd495...."  As someone told me this means the token could never be taken offline only unless Ethereum itself disappears, is this correct?

Yes, Manutax is a Token on the Eth Blockchain. In theory, the token will always exist once it has been created on the ETH ecosystem. Coins/tokens can't really be taken offline unless they are burned (whole different topic). Just because they exists does not, however, mean that they will ever have a use or a value, that is solely determined by the strength of the community following and supporting the project.

4: Before the Developers stopped answering we asked them if people that together with us decided to invest in the Manutax token were allowed to make promotion material such as Advertisements, Promo videos, A website. However, we are wondering what the consequences of that will be.  (Is it allowed to create a "Non-official" website to promote a coin)

To be honest in the world of crypto, and also because the coins/tokens created rely on the community for growth, there generally isn't many restrictions on reproducing images etc for advertising as it is all to help grow the community/coin/token. Obviously where advertising is concerned there are legalities around promises made in the advertising (if any) but just informing people about the project is generally fine.
It does depend on the community and the coin/token though and who is running it. They will mostly have guidelines outlined on either their website or social media platforms that will tell you what is allowable. If not, an email to the developer wouldn't hurt.

5: Let's say someone wants to take over a coin and the developers really left the building. Could someone take over the Smart contract?

This is a bit more complicated. Generally (and simply put) if this happens, the new community would set up a new smart contract and either keep the conditions the same (ie max balance, block time, etc) or change it based on what the new community wants, then perform a token swap and burn. Basically this means that all old token holders would send their old coins/tokens to a burn address created in the new contract that would issue a determined amount of the new token in exchange. It doesn't really happen like this and is a bit more complicated, but that is the essence of it.

Hope that sheds some light on the subject.