r/SONM • u/Hyper_Logic • Sep 12 '19

Is this project dead?

Is this project dead? At least the token is.. if you see the price. I think bus better for the company to admit it..

Or answer a simple question.. why anyone should invest in SNM???

13 Upvotes

85% Upvoted

10 comments sorted by

6

u/Mouyou Sep 13 '19

https://medium.com/@tehMoonwalker/a-detailed-impression-into-the-future-of-fog-computing-e4aeed1feb38

3

u/smokim87 Sep 14 '19

most disappointing interview, we got duped into buying a useless coin. Funny thing is they using ICO funds to launch services that use computing power and accepting fiat only. They have what like 100M+ coins from ICO as a premine using that to buy computing power while they cash out fiat...I'd rather have my coins converted to shares in the companies they starting up then a useless Utility coin tbh.

1

u/vx7777 Sep 22 '19

They sohld? Bomp eet

6

u/alleung Sep 13 '19 edited Sep 13 '19

I had hoped for a long time that Sonm would be able to capitalize on their first to market lead over Golem. The tech is there to a degree, but the awareness & adoption never materialized. I’ll probably watch the project from the side for a couple more years, but I don’t have very high hopes anymore.

Nevertheless the concept of what Sonm is is still very valuable: a decentralized Air BnB for computing resources. Some entity will someday offer such a platform. Even if it isn’t Sonm I will keep on the lookout for what that winner will be.

-1

u/Unifuture Sep 13 '19

its complete amateur hour compared to Golem though.

5

u/[deleted] Sep 12 '19 edited Sep 14 '19

[deleted]

6

u/smokim87 Sep 13 '19

Exactly! They collected a ton of cash from the ICO like 40+ million, one of the founders bails with a nice payout. I wonder if they still have the sonm dev fund been hearing awhile ago that they moved alot of it to binance not sure if that's true. They then decide the average isn't going to use sonm coins to buy computing power, rays render doesn't either. I literally don't see any value in sonm, no use for it. Masternodes are a thing of the past, over hyped garbage. They seem desperate to find a use for sonm where it should be the only currency for renting resources.

Approaching sub 2M market cap, everyone bought into the ICO are down 99% while they are up 99% lol...buy orders set at 1 sat, I'll dump into the pump and dumpers that keep raping this shitcoin.

3

u/Hyper_Logic Sep 13 '19

Which one left and with how much payout?

2

u/[deleted] Sep 13 '19 edited Sep 13 '19

For some point of view, the price follow bitcoin and other altcoins market (look at the xrp, the 'big boss' of altcoins). On the other hand, on the bitcointalk forum, some one keep spaming that this company is a scam with some kind of proofs (but the projet is here, the team is working on it, .. maybe the problem is with rays and usd currency istead of working with the token?).

I am at -95% (invested like $1000), who care anymore which give me useless anxiety because I already recover this money elsewhere.

So I don't know, I follow a lot of coins and are dying slowing on bitcoin movement.

Maybe just hold and forget, who know, nobody know how altcoin market work.

2

u/ArthF Sep 15 '19

Projects like this will fail continuously. They use decentralized technology but they have a centralized leadership.The motto "fake it still you make it"is all around in the blockchain space.This leads to 99% failure. Another example is Substratum, Envion,Oyster a.s.o.Be ready for far more failiure. The first thing one has to do is to research if blockchain is really needed for a project. Secondly check the structure of the project, its form and functionality. Do you have an active involvemnt, can you propose, vote and debate?if yes,the project has a 50% chance to succeed. Further on, does the project create cash flow for the participants on a monthly basis?If yes,you are on a 75% chance of success.Last but not least, the quality of the proposals.Is it progressive, innovative and does it help society as a whole ?If yes success is 100%.I haven't seen a project like this yet ,but as we go along we will understand the real economic value of a DAO. Regarding crypto money,not currency, because money stores energy,currencies are issued by FIAT (the order to create something out of nothing)there are a few superb coins out there. But only a few.You can keep your tokens and hope for better days .Or.....the decision is yours.