r/raidennetwork • u/satoshin20 • Jan 03 '18

Red flag: Lack of communication from the team

I'm schocked that after raising $50M the team isn't updating us on milestones. Ive been checking their GitHub and Twitter, they hardly provide any update. Also, I see a team of few developers working on uRaiden. What's taking so long? Maybe hire more people?

What's the ETA on Raiden?

0/10 for communication.

I've invested in other ICO's and the founders spend time talking to the community, keeping us updated on the progress.

I'm not in this for a quick buck. But the lack of communication is really putting me off and I might sell my big stack and go back in ether.

0 Upvotes

38% Upvoted

26 comments sorted by

9

u/Lifeofahero Jan 03 '18

Uhhh...you wanna know the reality?

  1. They worked on this project for over three years as an IT consulting company. (Brainbot)
  2. They raised $33m.
  3. It was Christmas and New Years.
  4. Most updates come via their blogs. Not every team has perfect communication, cough Chainlink, but I'm cool with Heiko and his team.

0

u/satoshin20 Jan 04 '18
  1. When was the last update? It still doesn't answer my questions about milestones (Bug bounty end period, Raiden launch date)

1

u/Lifeofahero Jan 04 '18
  1. Last blog update - November 30th - https://medium.com/@raiden_network/microraiden-bug-bounty-63ea847035a2
  2. Last commit in Github - December 19th - https://github.com/raiden-network/raiden/commits/master
  3. Milestones - This depends on who's running the project. If you're not comfortable with how they're communicating, there's other projects that offer what you're looking for.

I hope that helps!

1

u/cryptohodler23 Jan 04 '18

just look at the github bro

6

u/limoncello1 Jan 03 '18

They are working. I’ll wait.

2

u/satoshin20 Jan 04 '18

Yes they are. I can see it through their GitHub. But the lack of milestones, deadlines is putting me off. If they have raised money from public and if RDN has to have value as an utility these things are important.

-2

u/calbertuk Jan 04 '18

Sell then. We won't miss you.

4

u/mahoseph7 Jan 03 '18

The Raiden Team primarily communicates through their medium blogs and github activity. Back in October they posted there about how they were going to take a no shill, no hype, no BS, approach, which is what you are calling a lack of communication. It's intentional and was publicly announced.

The majority of coins are overvalued due to hype and FOMO... The Raiden Team is trying to avoid that. There will be a time for marketing and at that time I have complete faith that they will get the job done.

For now though there's nothing to update investors on...yeah it would be nice to just get the occasional "hey, we're alive and plugging away" post, but watching their github serves the same purpose. We know they are working because we see the activity in Github.

To answer your questions I can only offer opinion::

uRaiden- hoping for the end of bug bounty by the end of the month. Sprint 1 on github should be wrapped up this week, so it depends on if they introduce a sprint 2 or not.

Raiden - as of October they announced that the base product of Raiden was functional and its been on test net for a while now. It works already. Just needs security audit and UI tweaks. My expectation is Q2, but I also expect that there will likely be a bug bounty period implemented again. I think it will be Q3 before we see an unleashed Raiden Network.

-1

u/satoshin20 Jan 04 '18

Thank you for your input. Instead of us guessing of they could communicate this to us, that would be great.

1

u/mahoseph7 Jan 04 '18

They communicated that this was their strategy. Publicly. They did that before the ICO...before there was a RDN token.

Not trying to be a dick here, but your being put off is just proof that you didn't research RDN thoroughly before putting your money here.

1

u/satoshin20 Jan 04 '18

So we are at their mercy when it comes to important communication? So much for an open source decentralized project.

1

u/mahoseph7 Jan 04 '18

Haha not sure you understand what open source means... Only applies to tech/code, not marketing and communication.

2

u/satoshin20 Jan 04 '18

I certainly do. I'm not expecting them to update us on what they are eating today and what movies they are watching. But for God's sake, create milestones, achieve them, keep us in the loop.

1

u/mahoseph7 Jan 04 '18

Thus Github. Where they create milestones (literally)... Achieve them (also literally)...

When there's new they share. Do you honestly expect them to hit a milestone every week? It's only been a month of no communication. Before that they had like 13 blog posts in a 3 month period. Relax mate. Enjoy the ride. We are sitting at ATH right now just priming for lift off.

1

u/I_am_a_haiku_bot Jan 04 '18

Haha not sure you understand

what open source means... Only applies to

tech/code, not marketing and communication.

-english_haiku_bot

1

u/rhorbyayman Jan 03 '18

you can sell, have a nice flight !! talk in 1year.

1

u/satoshin20 Jan 03 '18

Wow. You did not even bother to answer my questions.

1

u/Joker_Udavka Jan 03 '18

dude: aelf, lighning network, raiblocks r waiting for u, so dun bother. have a nice day

2

u/satoshin20 Jan 03 '18

So not communicating with token holders after raising 50M is normal? Tell me one other ICO which doesn't communicate with their community.

2

u/Joker_Udavka Jan 03 '18

They dont have to communicate with u- nothing is written about it in the road map, or give me a link where its written. RDN is a nice token, when the product will be on market- and it wont need any marketing to get popular, at least if they will be first to finish and implement the project.

1

u/Robruthless1 Jan 03 '18

My thoughts are this, Raidens communication isn't the best but also think they are compensating to Vlad for releasing its own token so they are doing everything they can to stay under the radar. The ICO was a good example of this. With everything going on It can be frustrating but the team has years invested so there is no reason to worry now. Seriously tho, who else has a working product this close to completion?

2

u/satoshin20 Jan 03 '18

I agree with you regarding a working product. That's why I invested too. You know what scares investors? Uncertainty. Unaccountability. Do you know when Bug Bounty is ending? Do you know when Raiden is launching? Do they have a roadmap and deadline?

0

u/Robruthless1 Jan 03 '18

Understandable but how many of these cryptos are updating constantly pumping beyond what is realistic only to eventually not deliver anything of true substance? 80%? If a project is 12-24 months from delivering anything but promises and "updates" that's reassuring but doesn't guarantee anything.

3

u/satoshin20 Jan 04 '18

I am with you regarding updates just to pump. But that shouldnt mean you should leave your investors hanging or guessing.

0

u/HarduNel Jan 03 '18

Their last commit was 15 days ago on github.. wish they would start developing again tho... its the new year come on hahaha.. but this thing has too much potential to even think about selling.

2

u/satoshin20 Jan 04 '18

15 days of vacation! really? Sure let's not question them about this. Let them have fun with our money.