Hello RSTR community,
I hope everyone has been well. It’s apparent that some have been concerned with my lack of activity, but rest assured, I’m still here.
While I may have stepped away from my community interactions, I am always here in observation. I have tried my best to allow the admins of our project the opportunity to touch base at the community level first, while they relay the questions or concerns they might need answers for to me. This is not anything uncommon with most projects, as they have a community manager to be available to the community which allows the backend to remain quietly in the processes. In our case, I consider Gabe to be our community manager.
I do, however, understand the frustration of the recent silence. I really do. I wish that I could have some awesome big news for everyone, but all I can say is that I have tried my best to continue to work on the existing RSTR blockchain in order to correct the Zerocoin vulnerability, and yet with no success as of yet.
While those on the outside looking in might believe that things like this should be corrected or fixed by the snap of the fingers, or even sometimes trying to make comparisons with other projects and their situations, that is not how real life works. Working with tech that is new with limited resources to reference is a lot of trial and error. Unless there is substantial funding available to outsource work or a big team of knowledgable people working together on the code, it’s not a simple feat and very much time consuming.
These days my time is not as open as it was when we had initially launched the project. At the time we launched RSTR, I set aside a year to dedicate full time to it and also included a personally funded budget. There was never an ICO or private investment, and those investing into what was DIX at the time were buying from those holding it at that time. The transfer of money was not from investor to RSTR, but from investor to investor.
We tried to launch fairly and did not sell any coins at any of our exchange launches, and instead held. This in turn allowed everyone else to make money, while we did not. You’ve seen many brag about how much they made off the hard work that was put into the project, and looking back, maybe this was one of the mistakes.
It appears that the common practice for most projects is dumping on their community. I guess dumping and pocketing the return would have payed me for the amount of time and work that was put into RSTR, while also having given me the funds necessary to spend when needed on the project to keep the community at bay with some interest that wouldn't have had to come out of pocket. Maybe I could have also prolonged the swap process for ages as well, buying as much time as possible. Again, this seems to have been the common practice, well, that is if they don’t just pocket the money and run that is.
Unfortunately for me, and lucky for everyone else, dumping on the community was not an option I would ever consider. I hoped that we’d be able to sustain momentum even with a fair launch and doing things the right way. However, sustaining the momentum did not happen due the DragonEx listing.
I made the mistake of trusting an exchange and putting my belief into what I was being sold. I used the savings for my house in order to facilitate the listing for RSTR on DragonEx.
A $25k USD listing fee and an additional $10k USD for the "optional" refund of the listing fee with the use of their mandatory market maker system that required the deposit of an additional $40k USD ... which brought the total cost to list RSTR on DragonEx to roughly $75k USD.
We as a community chose to list 4 decimals USDT, but could not maintain the required volume, and then we elected to list BTC, where again, we could not sustain volume. An argument could be made that a couple of factors ruined our momentum here. One being the initial stall by DragonEx and the other being some A-hole that dumped on us right at launch. Regardless, I was accused by DragonEx of manipulating their investors by making them buy at 4 decimals USDT and now not being able to sell at even 1 BTC.
DragonEx chose to not follow thru on our agreement and return the $25k listing fee, while also keeping the additional $10k that was supposed to secure the listing fee refund, and also utilized my personally funded market maker account of my personal $40k to purchase RSTR from their users regardless of my disagreement and requests to release my funds. I fought to try and have my money returned, even explaining how it was to be used to help move the project forward, but to no avail. It was basically stolen from me.
A very hard pill to swallow, but I had to chalk that up as a loss.
Please keep in mind that this does not also include:
CoinExchange (3 BTC = $20,100), BleuTrade (1.5 BTC = $10,500), MNO (.5 BTC = $3500), StakeCube (.1 BTC = $500), Android Outsource ($2000).
Making the total outstanding cost of my personal investment being roughly $112k.
Oh, and this does not to include servers, website, maintenance, miscellaneous, etc, that recur monthly that I also continue to pay.
This ALSO does not include the additional thousands spent at CoinExchange and BleuTrade doing my part along side others to buy RSTR in hopes of keeping the project moral and momentum up at times.
To sum it up, nothing has been free and everything has been at a cost with either time or money with this project. For those who try and say that there was an exit or that I made a ton of money and am just quietly sitting back enjoying everyone else's money ... give me a break and get out of here with the false narrative.
Getting back on track, after exhausting all my financial and personal resources, my time to dedicate to the project full time had to stop because I needed to get back to work in order to make up the money that I had lost, while also getting back to a life. I had obligations that I had to attend to that were put off for the project, and I'm not alone.
The market has been bear for a long time, and while the idea of crypto has been great, real life has to take precedence. Even projects that I shall not name that we all know dumped on their community to make themselves prosperous are finding difficulty holding the interest in their projects and are being kept stable by their market makers to give the sense of interest.
Those around me, from the founders who were on board initially to team members we gained along the way, have lost their own interest in crypto as well. Many virtually giving up on the idea of crypto.
Much of the work has been solely on myself, and with the little time I’ve recently had, some weeks are a struggle to get a solid amount of time in. Even then, the time spent breaking and trying to repair code adds up. Not many will understand this aspect, but it is what it is. With the holidays approaching, the time will even get a little harder to come by, yet there is the hope that 2020 brings more time for the project and a refresh.
I've read some say they are tired of seeing the project broken, that the project is dead, or are tired of the behind the scenes trickery. There's no tricks or stalls here, nor is it dead.
There is no good or bad message at this point. Work is being done on limited resources at this time, and while maybe not at the speed or production that some prefer, it's being done. It is what it is. I’ve tried hard to work with the hand that’s been dealt. Currently that hand is one of exhausted personal financial investment and a team that has thinned out due to their lack of belief in cryptocurrency in general. That said, I am still here putting in my free time when I can to work with the code and continue personally paying out of pocket to keep RSTR running.
And for those trying to say that attention is being placed in other projects and that's the reason for it being quiet, just STOP. Please. There’s no other project/s and if I was that far gone, I’d just bow out of this completely and just be content with investing. As someone said, "no fucks given, walk out."
As you can see, I have invested more than anyone, so the weight of seeing this fail is completely on me. It’s something I don’t want to see happening. While some might say that we might have lost their support to make things better because of a lack of confidence in the team due to the recent silence, please tell me what has been different? We've yet to really have any support as proven by the support of all those who completely dumped on us initially when things were fully in motion with a lot of money being invested, only to go off bragging about all the money they made.
There has always been an open invite for anyone with some actual contributing skills to contact us and let us know what they might be able to help contribute, yet the only messages that ever popped up in my DM were off topic.
Anyways, thank you for taking a moment to read. I hope that some of you have a better understanding of where we currently sit and have a better understanding of how work is having to be done at this time. I am still discussing with a few members on the team about alternatives to addressing the RSTRCore vulnerability, and will plan to enact those plans if necessary going into 2020. In the mean time, have a safe and merry holiday season.