Hi, thanks for the post! Question about the DCT coin, which is trading on Bittrex for example. To my understanding this is just the IOU ERC20 token and not the actual DCT coin, comparable to the current EOS tokens?
That means they become 0 value soon? But then, how to claim the real DCT coins and exchange the tokens and how can you distinguish who is trading what where? Bittrex simply calls it DCT - which must be wrong, as it is trading far longer than the actual coin exists, that was just the IOU token.
On the other hand, I don't get it why the token decreases so much in value, when each token is backed by a coin that one can claim.
HitBtc is obviously the IOU token. That makes it a bit difficult to distinguish. https://hitbtc.com/account : Please note that DCT is an IOU for future issued token. Until the blockchain is released withdrawals and deposits are unavailable. Please accept our apologies for the inconvenience.
Bittrex trading only started a few days ago with the release of the coin.
Ok, that answers that, thanks for the confirmation! Remains the question, WTF happened to the value of that coin... losing 90+% of its value and still dropping??? The project sounds solid and is a really good idea.
They're a company with offices in 3 countries. They've been conceptualizing and building this product for 3 years and you think they'd just "give up" after 5 days? They have 37 employees and 5,881 in development and marketing funds.
The question was more, where is the evidence and what happened, that made you think that DECENT's dev team did a horrible job, concluding there is an increased likelyhood they might just fail the project.
And to answer your question, oh yes for sure they could just give up any time. Companies with thousands of employees had been closed down within a day. That is not an indicator at all. And $5.8 million could be easily spent during the last 3 years.
The initial question was more. Why does the value of the coin drop so hard? And is that an indicator the project is failing? (people who know more about it leave a sinking ship, hence price plummets)
Just joined LBRY yesterday and like it so far https://steemit.com/lbry/@cryplectibles/lbry-a-quick-look-inside-and-why-steemit-should-keep-an-eye-on-lbry , first I have heard of Decent and will be checking out now, great job on this infographic!
Hi, thanks for the post! Question about the DCT coin, which is trading on Bittrex for example. To my understanding this is just the IOU ERC20 token and not the actual DCT coin, comparable to the current EOS tokens?
That means they become 0 value soon? But then, how to claim the real DCT coins and exchange the tokens and how can you distinguish who is trading what where? Bittrex simply calls it DCT - which must be wrong, as it is trading far longer than the actual coin exists, that was just the IOU token.
On the other hand, I don't get it why the token decreases so much in value, when each token is backed by a coin that one can claim.
Bittrex is NOT IOU but a real coin.
HitBtc is obviously the IOU token. That makes it a bit difficult to distinguish. https://hitbtc.com/account :
Please note that DCT is an IOU for future issued token. Until the blockchain is released withdrawals and deposits are unavailable. Please accept our apologies for the inconvenience.
Bittrex trading only started a few days ago with the release of the coin.
Ok, that answers that, thanks for the confirmation! Remains the question, WTF happened to the value of that coin... losing 90+% of its value and still dropping??? The project sounds solid and is a really good idea.
It's because it's been a disaster since launch. The idea is good, but the execution was not.
You seem to have some insight, any hope that this situation might change? Or did they finally just give up?
Do you know where one could find some info about this process and history, without going through months of Slack postings (if they have a channel)?
They're a company with offices in 3 countries. They've been conceptualizing and building this product for 3 years and you think they'd just "give up" after 5 days? They have 37 employees and 5,881 in development and marketing funds.
The question was more, where is the evidence and what happened, that made you think that DECENT's dev team did a horrible job, concluding there is an increased likelyhood they might just fail the project.
And to answer your question, oh yes for sure they could just give up any time. Companies with thousands of employees had been closed down within a day. That is not an indicator at all. And $5.8 million could be easily spent during the last 3 years.
The initial question was more. Why does the value of the coin drop so hard? And is that an indicator the project is failing? (people who know more about it leave a sinking ship, hence price plummets)
Totally valid question. There are actually answers out there now if you do a little bit of digging.
Good comparison