Good evening,
this post is about a 6-month old post by the user prisoneroflies attacking the NVO Project with some very doubtful arguments.
This is the original post: https://steemit.com/xenio/@prisoneroflies/due-diligence-on-nvst
This will clear things up.
The fist statement made was about prisoneroflies investment. I'm pretty sure that there hasn't been a sell order of more than $100,000 NVST but i'm not here to discuss that part. Might be, might not be.
"However, after a while I have come to realize that, this project quacks like a scam, and smells like a farce."
- This might have been caused due to the fact that the NVO team is avoiding marketing at its current stage because there is no point in advertising a unfinished product. There hasn't been a lot of communication on social networks like Twitter or Facebook, this is true as well. We have chosen Telegram and Slack as our primary communication sources.
"It took me over a week to get rid of my entire 100K stake [...]"
- Yes, the NVST token is only tradable on the Counterparty Exchange due to the fact that there is no point in listing a cryptocurrency, who's intention it is to build their own exchange, on a centralized exchange.
"Long list of unfinished projects"
- Everyone needs to learn about different things in life and the most important thing about it is to turn a piece of written paper into something real, or virtual in this case. All the websites were taken down since the project has launched, the past is the past, nothing to change there. The team is very commited to the project as far as I can tell.
Regarding "Consistent failure to deliver"
"This team can’t seem to deliver anything on time"
-Back in 2017 the team decided to create their own blockchain since the Safenetwork was not ready to use. Accordingly the development slowed down a bit but no one in the community had any major problems with it. If you trust a project then you are in for the long run.
"Shortly after the ICO closed"
-Those were not promises in any way and it was never mentioned that the wallet would be released within a month nor the DEX by december. The DEX was planned for Q1 2018. This date has been moved to Q2 2018 due to security hardening.
"(Ton) We either release the NVO exchange production ready in 3-4 months on Nemgun’s network or we do it in 6+ months when safenet is production ready."
- Again, this was before deciding to develop an own blockchain.
As of right now, Wallet version 1.3 is in the works. You can download the v1.1.x on the NVO website.
"These are conducted on the fly, with no prior notice so that who attends the call can be controlled by monitoring the sentiment of the chat at the time. Conveniently, nothing is recorded so that any information is relayed by die-hard supporters. Don’t spread FUDs here, ban ban ban."
- Those skype calls are not official and only happen at certain stages of the development. They are announced shortly before.
"How do you trust a closed-source wallet written by some unknown <Algeria> person with your private keys?"
- That's simply racist. The people in the team are known to the community. The private keys are held by the shareholders, not the team.
"[...] any doubters are quickly labelled as FUDers and banned before they can induce more questioning by others."
- Happened, but only to those who where misbehaving multiple times. (Bad language, naming names, etc). If there were/are questions about the NVO Project, the team and the community is always happy to help.
"Maidsafe 10.0 in a week, validator is easy, wallet is easy, exchange can handle 100000 transactions per second blah blah…. All these to go with unknown real life identity, missing github profiles, lack of codes, and aggressive barking when questioned."
- As far as i know, the NVO DEX is currently handling a stable 100,000 transactions per second. The real life identities are known. Yes, the code is not open source at this stage to avoid a clone of the project at this stage.
"By making it difficult and troublesome to sell, the price is held together by illiquidity and the activation energy required to actually liquidate these tokens."
- Let's be honest, it is not really difficult to sell or buy on the counterparty exchange. All you need is the Counterparty (XCP) price to convert the XCP Price in USD and the basic trading skills. You can find a guide on how to trade on the Counterparty exchange here.
"Unfortunately, this team didn’t deliver, so I bailed."
- This post was created six months ago, the project started the development like 9-10 months ago. Again, to see progress in a project, you have to be in for the long haul. Obviously you do not develop a proper wallet or DEX in 3 months.
"Price target per NVST; zero."
- After reading your analysis, that's simply what you wrote in your "hate mode" as I will call it.
I dearly hope that this cleared up some misleading things about the project.
Visit www.nvo.io for more information on the project and make sure to check out the community website.
