Bithemoth Expert Review
The Bithemoth team lacks essential industry experience. BHM is the first blockchain related project for the majority of the members and they are not advised by any seasoned industry veterans to make up for this absence. Several of the members — including the CEO — have between one and 50 LinkedIn connections and some of the devs are simultaneously working on other projects striving to achieve the same goal as Bithemoth. Muhammed Nagy with Bixer PTE Ltd. for example. Any conflict of interest here? I am sure there would be if this could be considered a serious project.
Bithemoth is targeting an inexperienced, public investor audience with vague but grandiose promises. The wording on their social media and medium articles is very basic and addressed to an audience unfamiliar with blockchain or the industry. When explaining your platform, please don’t start with Satoshi Nakamoto. None of their promised features are revolutionary or not yet implemented by other exchanges or blockchain asset solutions. The website mentions that BHM is a great investment both short and long-term several times and tries to convince the amateur investor with blockchain jargon and a 50% buyback of all BHM tokens. No mention of how this buyback process will go if the hard cap is not reached. The team addresses some market inadequacies in their pitch deck, none of which are actually still prevalent. Direct quote:”Current exchanges are severely lacking in many aspects: Confusing U.I.’s. Nonexistent customer service. International and multilingual support. Poor exchange security. Tedious and long setup processes and wait times. Scalability.” While particular exchanges excel more in some aspects than others, all of them are addressing these shortcomings.
The market analysis lacks proper competitor and market research. Mentioning that “Our major competitors from our analysis are Binance, Bitfinex, Bittrex, KuCoin, Altcoin Trader and Luno.” Is not competitor analysis. The whitepaper and one-pager include the token allocation. Unfortunately, the amount allocated to marketing is less than that allocated to the founders. 5% to 6.25% and there is absolutely no mention of what is done with the money taken in during the ICO and pre-/fire sales. The Bithemoth team has blended their token distribution into their token allocation resulting in a useless model.
The marketing and business strategy are nonexistent. This is actually not a problem in my eyes as the amount of tokens allocated to the business development and marketing is minuscule. No need to plan for something that you’re not intending to pursue. The roadmap is inadequate at best and lists nothing more than inconclusive milestones. There is no GitHub code base available. Bithemoth is one promise away from a scam.
See this review and others about Bithemoth on presale.market.
