Hi Steemians, I just want to share my experience that I had while trying to participate in the Status ICO. 聽This ICO was a terrible disaster!! 聽The way the development team handled the whole debacle was a mess and they could have avoided it by structuring it so that it wasn't all about how fast they could raise the funds.
So this is what happened, when the contribution period began too many people were trying to send their Ether tokens all at once to the Status smart contract address and this literally crashed the entire Ethereum network. 聽Their was no organized communication from the development team regarding what was happening which made things somewhat chaotic. 聽People, including me were sending Ether to the smart contract but none of our transactions were even broadcasting to the Ethereum network, we were all basically pushing buttons and nothing was happening. 聽Some people thought they lost their Ether and were frantically wondering where it went and what was going on.聽
Another issue was the rules of setting the gas limit and gas price was not being followed or enforced so basically the people who set them higher, we noticed their transactions were going through while everyone elses was not. 聽This made it very unfair for the people who were doing everything as what was stated on the Status website. 聽聽In the end, I did not lose anything, just my time I spent researching this project and trying to participate in the ICO.
Now that the ICO is over, it has left a bad taste in my mouth!
But I always try to stay positive and I still believe the project itself has potential and is interesting. 聽But after this experience its a no touch for me for now! 聽So for now I will look elsewhere for another opportunity and as a disciplined investor, patience is very important in succeeding in the long term.
So for anyone who managed to participate, you must of had alot of luck on your side! 聽I will wait for it to list on an exchange and see how it trades before taking another look. 聽Sometimes things are just not meant to be! 聽
Happy investing Steemians and Steem on!馃檪
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