The road to anything great is never a short one to travel. It usually includes many winding turns that take time, commitment, and patience to endure. While we know it's been quiet, we've been watching and waiting patiently. The market has not helped to give investors confidence during these tough times and many are looking to sell, while others are looking to buy really cheap. Rather than react to a situation by making decisions on the fly or based on emotion, sometimes it's better to wait and adjust accordingly, altering plans in order to combat the situation much more effectively. Our road is not short by any means and if you look at any successful project, their road to success has been long.
What a crazy ride 2018 has been. For many of us, simply not looking at the portfolio is the best thing to do right now. The anguish hurts everyone from the investors to those running the projects. Recently, it's been a torturous road for many in the cryptocurrency market. It’s been easy to watch projects lose value due to sell off, where holders are just trying to take what they can. Then on the flip side, you have others that are buying up those deals. This combination is what drives the value of the coin/token to new lows.
We have also watched some projects get heavily hyped and manipulated by good shillers in order drive up the value, only to watch these profits taken at the expense of those they've gotten to buy into the "hot" project that they were selling everyone. They utilize these new buyers to cash out and make money for themselves. The aftermath of their work can be seen in the charts, after they've pumped the hyped project to new highs and then dumped it back down to where it sat prior to it all. Projects are not safe in these bearish times.
While Ondori has not had the greatest volume recently, we also are not in a position like many other projects where they have bled out. We know that these have been uncertain times and we’d like to say a big thank you to all of those still holding their RSTR and supporting Ondori. Your support and understanding is very much appreciated. It’s this solid investor base that will make Ondori great in the times to come and will be the foundation for our success.
Strategies and Business Sense
While the current market might have affected our volume, it has not affected our value. Standing by our BTC pairing protects the Ondori value and the investments of those who believe in our project and have planned to hold for the longer term. Some have still asked the question why we don’t open up other pairings in order to create more volume. Simply put, we will not fall victim to any sell off at sub satoshi prices in exchange for more volume during this time. We also will not allow for any type of manipulation either by those looking for pump type trading or those looking to hurt our project by buying large quantities in an attempt do harm later down the road.
Like a business, we must also adjust with market conditions. We never began this project with an ICO or any type of OTC sale. Ondori has always been self funded and project expenses have been paid out of pocket, which still has not yet been reimbursed. Many seem to forget, or ignore, the fact that we do not get paid for the services that we provide and while we may have a budget set aside to help with the project growth, we had preferred not to put that on a brand new market and now will not do so on a market that is struggling.
There are some factors the community must consider such as, but not limited to:
- BTC Market Outlook
- Project Outlook Based on BTC
- Daily Obligations Outside Project
- Personal Funding
- Common Sense
Crypto (in general) is not a source of income for the project team, nor is it a full time job that provides a daily source of income. From our core team to the teams on our social media channels, we all have our daily commitments like anyone else and all the contributions to this project have solely been on a volunteer basis. Personal hours have been sacrificed in order to contribute to the growth of the Ondori ecosystem. It seems the expectation by some appear to be that things should happen simply overnight or that project development should be right away. Some need to wake up and be realistic that this is not some game, and if you're looking for one, go elsewhere to find it. Proper development takes time and not only in a technical sense. There are many working pieces that all have to work cohesively.
Timing has always been a very important factor, especially when you consider what's been going on over the last couple of months. It’s most effective for our project that our progress matches a positive Bitcoin market. Given the recent market conditions, it was apparent that an adjustment was needed within our development plans. While there may be some positive movement with Bitcoin at this current moment, it's our opinion that we are far from being done from what we've seen. Some have claimed that we have already hit the bottom, while many still feel there is more downward trend left to be seen.
In situations like this, news and development are not the problem solver. Market confidence is the key factor. We are monitoring many projects and their activities right now, and we've seen that with the majority nothing is helping them trend up. For the few that do catch a ride up, it is short lived and quick to fall back to, or below, where it previously was.
As a project, we have adjusted our time frames and moved our development plans further out into Q1/Q2 2019 (i.e. Android wallet). This is a prime example of the reason why we do not want to promise any dates or delivery of a specific product. You never know exactly what you may encounter on the road and it's not wise to force delivery for the sake of a date that was stated many months prior.
After getting thru much of the code to enable zPOS, we have decided that it would be best to not move forward with private staking. We felt that the code changes were pushing Ondori in a direction that we did not want to go, in addition to making Ondori fully dependent on PIVX going forward.
Our plan was always to utilize the PIVX code base as a solid foundation to build from, but find our own path in becoming something different. In the end, we feel that this decision will allow us to accomplish just that. We will be evaluating RSTR core during Q1 2019 and moving our focus onto Proof of Transaction (PoT) development.
The Road Ahead
The uncertainty of Bitcoin isn't done by any means. We might have some positive movement for a brief period, but the overall outlook says that we have much down hill left to go. Now, that may be incorrect, let's hope so, but the pattern is there.
Have you ever been on a trip and had that one person that always asks, “Are we there yet?”
If there's one thing we know in crypto, it's that nothing is certain. What is certain though, is that we continue to move forward with every winding turn and adapt when needed. Below you will find that we have updated our development path (aka Roadmap) going forward into Q2 2019.
Thank you all for being a part of the Ondori journey and Happy Holidays!