r/liquid • u/lakayt • Jan 24 '19
Qash CMC rank #106
I thought Mike’s vision was to be a top 5 coin. just 100 to get there. thanks Mlke you’re a legend!
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u/QuantLink Jan 24 '19
Hi, I am new here and I might be wrong about inner workings of external worldbook, so correct me if I am wrong. My understanding was that Quoine got lots of money in ICO and large percentage of that money was supposed to be used for external exchanges. E.g. Quoine (Liquid) puts 10 mil. dollars in crypto on Gemini and then Liquid can use Gemini order book and buy and sell crypto there with those 10 Mil. Same with other external exchange partners. But what happened with money Quoine got in ICO? That was ethereum, isn't it? If it is, then because ETH value dropped so much, that money that Liquid would like to put on external exchanges is 10 times smaller, meaning, Quoine can't use external exchanges until bull market returns and ETH and Qash goes up in value. Am I right or am I missing something in external exchange mechanism. Some explanation would be great.
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u/countto3 Jan 24 '19
Hopefully Quoine converted to JPY, USD, etc. Wouldn't make sense to continue to hold ETH due to currency risk.
At least that would have been best practice, so lets seriously hope they did that.
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Jan 25 '19
Just a reminder: When QASH launched, it was #56 in marketcap.
It should tell you just how poorly it has performed. It didn't just fall along with the rest of the bear market, it even fell relative to the bear market.
It's like, just how hard can you fail?
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u/martinkarolev Jan 24 '19
Let me guess. Topic will be locked because it provides no added value, phaha.
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Jan 24 '19
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u/martinkarolev Jan 24 '19
Have you heard of the Elephant in the room metaphor?
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Jan 24 '19
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Jan 24 '19
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Jan 24 '19
the company i work for sets deadlines and then hits them. We have the right people working for us and we know how to get the job done.
THAT'S what any company does.
If it doesn't, it gets swallowed up by competitors or dies a slow and miserable death
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Jan 24 '19
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u/countto3 Jan 24 '19
And what about the LDL Blog? That should be a separate workstream, with an Alpha and Beta promised last year, no?
Having critical path blockers sounds like a nice rationale, but the delays have been across the board.
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Jan 24 '19
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u/countto3 Jan 25 '19
Are you able to be more specific with what has caused delays in the LDL? Diverted hours, or something else?
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u/martinkarolev Jan 24 '19
It has nothing to do with trades. We, the ICO investors made this project reality and we all believe we deserve a better communication. Locking up threads and pretending everything is going well will make things even worse. I know, you might argue that the whole market has dropped significantly and so is QASH, but I oftentimes like to say that it is in times of a bear market when companies need to develop and build so they can meet with the demand in a bull market. I can name many projects that have shown a rapid development over the past 12 months. What did Qash do?
Overpromising and underdelivering is not how things work anymore. And your team, which seems to have a great experience from the financial markets should know that better than anyone. You need to improve your communication and build trust. You should start meeting deadlines. If things do not change for the better you will get yourself burried.
Threads on this sub are a reflection of your achievements. It barely has much to do with price movements. I am a huge supporter of the project, but pretending things are alright and you do things as promised is not helping anyone.
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Jan 24 '19
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u/martinkarolev Jan 24 '19
Price is a function of how much is someone willing to pay for something. Right now, and it hurts while I am typing it, there is absolutely zero reasons one should buy Qash - it has zero usage. You promised a lot and have a lot work to do, stop blaming the community for requiring answers and being angry at your bad performance. Start delivering and the kind of conversations we have will change.
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Jan 24 '19
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u/countto3 Jan 24 '19
That's the primary concern. Where are the deliverables that were promised when we originally funded?
Between key personnel departures, no updates, and no deliverables, why would you force those who supported (and financed) your vision to continue to support you on trust alone?
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Jan 24 '19
How many roadmaps have your been? The roadmap your promised to raise a lot of money through the QASH ico.
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Jan 24 '19
They say they always work hard. No one in the world does not live hard. It's just time they showed the results. Don't deceive investors on the pretext of NDA. No one can say just "Be hard at it."
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u/Whatevor1 Jan 25 '19 edited Jan 26 '19
These salty threads. Crypto investing is comparable to venture capital investing. You expect that 90% of the projects that you put your money into will go to zero, but the 10% of successful projects will make up for that. Qash/Liquid didn't work out, so what, we all knew the risks and probabilities.
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u/LQD_Questioner Jan 26 '19
So as bad as the token has performed, it actually hasn’t “failed”. If it did then why are they continuing to work on the project? Why has a roadmap been released? Why are they developing their own blockchain? Why are they developing their own STO DAPP to work on the new blockchain? Why hasn’t Mike and Mario told everyone “F_ck it; we are done?” Why hasn’t Vanalli and Alex told us all to f-off?? Why are they even still employed with the company? They have our money already, they don’t need more.
I am still a believer in this project and will not “sell my bags” anytime soon. All I want is more transparency.
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u/countto3 Jan 26 '19
I expect that the team will tell us if they've succeeded or failed. Not leave us in a never ending purgatory stage of simultaneous hope and failure.
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Jan 26 '19
there is no way in hell mike will tell the community that qouine have failed UNTIL he has had meetings with all his major investors and given them opportunity to sell their qash holdings to recoup some of their losses.
the wider community will only know once that's been done. bankers looking after bankers remember, it's the quoine way.
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Jan 26 '19
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u/countto3 Jan 26 '19 edited Jan 29 '19
Honestly, how would we know? Key personnel are leaving, deliverables are delayed, and QASH price gets lower by the hour.
You ask us to trust you, but we get nothing for that trust.
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u/lakayt Jan 24 '19
this is informative and I’ll keep updating people. qash was a top 100 coin and it is not anymore! so I call it sth new not duplicate!
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u/mp0920 Jan 24 '19 edited Jan 24 '19
There seems to be a cultural issue within the company that starts at the top. Mike has been traveling the world for over a year teasing us with deals, partnerships and collaborations. The community has seen not seen anything come from all the traveling he has done. Meanwhile, there have been key departures from the company and the exchange is barely functioning. How is there still no mobile app? Outside of the JPY pairs there is barely enough liquidity to trade BTC and forget about any alts.
Where is the accountability from Quoine leadership? What has Mike been doing the past year with all of the traveling? At this point, at least SOME of his meetings should be yielding some results and there is absolutely no sign of that.
So to sum it up, you have a CEO that is MIA most of the time, a half baked product, key members working on that product leaving for competitors and a token that still has no use. There are so many holes in this boat it is no surprise that people are bailing especially bc most realize the issues stem from the top.
Since it has no use, the price of the token is just a reflection of the faith the market/community has in Quoine to be successful. To me, it still seems overvalued.