As with most projects when you deal with multiple teams/projects, sometimes the 1 team does not stay current with the schedule. The ASIC is its own project, and the developer we had hired for the exchange has been fired due to his delays (and replaced). XC has its own team and I am only assisting with it where I can, other projects have no bearing on XC.
Cache is not a P&D, we still have all the coins and never sold them as any user can check. It is part of how we will build PoBC and is in ongoing development as you can see from the cachecoin thread.
Hey all,
Not an attempt to hijack the thread or anything, but what Jasin has said regarding the ASIC project isn't quite the whole truth here. I think it's pertinent to your coin, because he's listed as a co-developer on your site.
Just some background:
Jasin started his ASIC business basically putting his reputation on the line as "collateral". Many of us liked what he said and in the beginning it seemed as good as you could hope to get on something as risky as an ASIC pre-order.
Throughout the past 6 months or so, for the most part it was going well, Jasin claimed to be able to match competitors hash rates, etc., but kept any information very close to his vest. But, while not disclosing any concrete information, he definitely was hyping the company and projects (teams of devs, customer service reps, etc.) on both the ASIC project but the "high frequency trading" exchange that was supposedly being built.
I would say around May the red flags started to show up. More promises, no real information. People started to question his dedication to the ASIC project as his presence was more and more being seen on the XC thread and another coin. At some point, there was a promised mid-June update on the ASICs. Around the same time, some red flags began to appear such as less responses from Jasin and things like one of the Fibonacci "trusted hosts" selling his ASIC shares at about 50% off. Other minor things such as Jasin claiming developers are working full-time and the developer himself admitting to have a full-time job.
Needless to say, a mid-June update never happened while Jasin tells his customers "ASIC is my priority"... a month passes, all Jasin is saying is "i'm waiting like you guys for information". Which raises more red flags. Then, about mid July, Jasin reveals he's completely outsourced the ASIC project and gives a vague response about it being stuck in "testing". Someone knowledgeable posted some questions about that statement and what the state of the project actually is. Jasin continues to ignore these questions.
Now we have the "rogue developer" issue. What is unsaid above is that this guy apparently has run off with coins, which for some bizarre reason he had access too ("he was a friend/partner").
Still no answers on the state of the actual project.
This guy not only solicited purchases for ASICs but also sold profit-shares to his "business". I think it's in the millions of dollars range.
With that said, why am i here? Well, 2 reasons. First, maybe you guys can pressure him into coming clean to his customers. At this point, most people just want the truth. It really boils down to what's right and wrong now.
Also, if this continue to go south, there likely would be some ramifications to the association with XC.
Of course the above is taken from my perspective, if you're at all interested, i'd suggest reading the thread over at LTCtalk and you guys can make your own conclusions:
https://litecointalk.org/index.php?topic=2702.0
