Honest Review about Substratum project. If you are planning to invest in it influenced by positivity around, please read this.
Whenever you want to invest in a coin, don’t get influenced by few positive videos, posts or tweets. Do your own research, not of finding good reviews but finding negative points about the project, that can help you in long term. Here, what i have felt about Substratum after my thorough research. Forgive my English as i am from middle east county, not native English speaker.
I am holder of 10 different coins and Substratum “was” one of them. I just don’t like the false promotion by contest without the “real” product. They did not release any features yet they have promised. Read my whole post to know more. I think I was more positive towards the team than they are. Team of developers is still good but Justin is promoting too much that this small team can’t do that fast.
DON’T CALL ME FUDSTER. INSTEAD, ANSWER THESE QUESTIONS TO SHOW EXAMPLE HOW RESPONSIBLE TEAM IS. BAN IS NOT A RIGHT WAY TO ANSWER TO INVESTOR’S QUESTIONS.
A definition of a roadmap: “a plan or strategy intended to achieve a particular goal.”
Does Roadmap of Substratum show plan or strategy in their road map at all? It’s rather “a History” than a Roadmap, then why labelled it as “Roadmap”.
It’s a month of May and you are releasing a roadmap for year 2018 that too only shows history, not milestones. Still it’s not full roadmap as said by some community members.
Why Substratum is not putting real roadmap on website. Reasons can be:
(1) They are unsure about what features they are putting in product. Being software company, this is not professional at all. They want to have it dynamic roadmap so something goes wrong with something, they can build the other way. I have seen them saying “this was not there in original whitepaper but we are doing this and we are doing that….” Being a software company, you need to have an idea well ahead about your whole product and focus on it only. I think company is still unsure about pricing model to show how nodes will be paid. It’s completely understood that company does not want to induce pump and dump and hence not releasing milestones with dates, month or quarters. but at least have a Roadmap like Cardano has, to show what is being developed and how is the progress.
(2) Company is too much afraid to show their roadmap because they are unsure whether they will be meeting their goals or not. This was there in past as well. But I have not seen company apologizes at all. Rather, they said people had misunderstood word “Beta”. “misunderstood?????” LOL! People working in software industries know what is beta version. Why not being responsible and apologize? Even whitepaper shows bunch of features.
(3) By not showing Roadmap, they can take their own time to develop things and release when the hack they want. Have you ever work in a software company where you are given no deadlines and release product version whenever you could do? NO NEVER.
HERE I HAVE FEW CONCERNS, COMMENTS AND QUESTIONS FOR SUBSTRATUM COMMUNITY.
(1) Why there are two copies of whitepaper? (http://substratum.net/wp-content/uploads/2017/08/substratum_whitepaper.pdf) August,2017 and (http://substratum.net/wp-content/uploads/2017/12/Substratum_English_Whitepaper.pdf) December 2017?
(2) First version of Substratum Node is not having any interesting features that have been promised. It’s just basic foundation. I think they just wanted to shut people’s mouth by releasing at least something so that no one will ask anything. As per whitepaper Main founder Justin is holding 10M token and he can only use it when they deliver product. As they have released something, now Justin Can have his tokens.
(3) Whitepaper says that Advisor will have 25% of their investment. Can you tell us who are the Advisors of this project?
(4) Whitepaper does not explain what Cryptopay will be implemented. It just shows what it can do. I can tell you about 50 different products with bunch of features but won’t tell you how it will be developed. You might be amazed what cryptopay can do by hearing you can pay in any cryptocurrency and other person can take in any cryptocurrency. Do you understand that in this case, they need to deal with multiple blockchains and also trade should be made at the same moment. If that was easy to do, then Binance and other companies would have done it already.
(5) How many websites you wanted to see were blocked till now? What do you think, which one would be larger number? (paying for hosting on substratum OR running Substratum nodes??) Of course, Node runners will be higher in number(As in number and number of requests), How come Substratum nodes can be in profit if only few hosts will be there. Substratum is marketing for coin and price of coin enough. But until they have millions of Host subscribed, you won’t benefit from running node.
(6) Most people can just turn the node off when browsing the internet so you don’t need to pay for decentralized internet and when your computer is idle, then run the node to maximize the profit. In the case majoriy of people doing this, how come they generate profit, who will pay for that? Has company shared pricing model to the community at all? This is crucial.
(7) Once company missed Beta deadline in December. Then there was a big FUD around not releasing beta and accomplish as per deadline. They are reluctant to share Roadmap now. So people started FUDing about Roadmap as well. So what they did was engaging community by sharing something via tweet so that community feel good even without Roadmap and they can take their time. Now company is doing number of things to take away FUDs around. Asked all lead developers to be active on twitter, Contest to spread positivity(forced positive tweets to be able to earn in SUB). Weekly video of news regarding marketing, Even after hack news there was some negativity around so Justin has created another contest so there will be positive tweets around.
(8) Whitepaper says 30% of total will be used in product awareness. Even it says “by taking part in blockchain and cryptocurrency based conferences”. Have you taken part in any? Are you planning to take part in any?
(9) So now you are happy that company has released their first version. Really? Look at the roadmap what they have promised to re there in the Version 1?
(i) Run Web, Database, and App Broadcast Nodes and receive Substratum Coin. Can you?
(ii) Developer Toolkit. Have you even heard anyone talking about it yet?
(iii) SubstratumStore. Heard about this either?
(iv) SubstratumDNS. Even this one?
If you cant believe checkout their whitepaper. These all were promised to release with version 1 in December 2017.
(10) How do you think whitepaper should be? Checkout Bitcoin whitepaper for an example, It says how the problem will be solved. But Substratum whitepaper just say bunch of features it will have. But How? Only company people know. Also, they won’t tell you either as you will be able to find it once all the above features will be out in year 2021 that were promised in Version 1.
(11) Why both whitepapers mentioned above have different team members? One of them has Kevin Marois, Jason Wollam, Jason Burns, Michael Stockwell etc.. Are they no longer part of the team?
(12) There is an “equalizer force” Substratum community is maintaining and Justin is taking care of it. Whenever they have any negativity, the force is taking care of stopping them and spreading positivity around. You must have faced being blocked on telegram. Also, if you post or comment something negative, you must have seen few selected people replying to you and bashing you. Also on twitter, they want people to maintain positivity by tweets of developer leads, by contest and by this Equalizer Force.
(13) Whenever you ask any technical details, they are linking a video of Dan Weibe of Youtube. But do you have any documentation or Information about model of substratum? No, they don’t have. They don’t want to show their flaws because they know they themselves have not feagure out few things. I have not seen anyone explaining about pricing model, SubstratumDNS, SubstratumStore, Developer toolkit etc. Whatever Dan explained is good but it’s just very basic thing.
(14) Company nowadays is just trying to have something to talk about all the time. you must have seen Justin saying different “exciting” things every week for past 3–4 months. How many actually exciting things have you seen out there? Main thing is product than marketing. How many exciting things have you seen about actual product? I have seen Justin saying these sentences “ Stay tuned guys, there are lots of exciting things coming. I am more excited than ever. Meeting went really well and many exciting things we are planning”. But they won’t tell you exciting things but just announcement of announcements to have people holding the coin forever.
(15) What will happen in future if US government will put Net Neutrality applicable? Product will go out of use?
Thank you guys. Whenever you want to invest in some coin, you need to learn negative side of it as well because what you all hear is positivity and induced by FOMO. Don’t ever invest in a coin by following few videos or post. try to find negative about it as well. I am not a pro but i invest by doing lots of research. Suggest me some coins to have an honest review about it.
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