Projects Get Delayed For Legitimate Reasons

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It is easy to get anxious about projects we are participating in and allow frustration to take over when things get delayed. However, there are often legitimate reasons for this happening.

Before going any further, we all know there are scams in the crypto-world. Heck, there are scams in all parts of the world, physical and digital. This is something we need to be very aware of.

At the same time, every project that is stalled, delayed, or even fails is not necessarily a scam. I see that term tossed out often when it comes to new projects. Just because there is a set back does not mean the project is a scam.

Also, there are many examples of poor management, planning, and execution. Blockchain projects require the same business acumen as anywhere else. A lot of factors enter the picture including the proper financing, cash flow, right timing, and a knowledgeable team that can implement what is being created.

Yesterday, there was a video released of an interview with @stan. It pertains to the BEOS project and the different aspects under that umbrella. There are bold plans with it yet the delays are starting to mount. I wanted to cover a few of them here as an example of what can take place.

Legal

One of the ideas of the project is that stake holders are going to receive tokens called manna (not to be confused with the UBI token of the same name). This is a utility token that will allow for a swap of tokens in other projects. The reasoning here is multi-faceted. To start, by having people stake their BTS and BEOS, it helps to prevent a collapse in price on the tokens that were just dropped onto participating BTS holders. At the same time, it rewards those individuals who are willing to commit, via the staking process, to the project long-term. Finally, it helps to put tokens from some of the other projects into stronger hands since the commitment was already shown.

The idea was simple. Manna was to be dropped into people's wallets based upon their staking status and they tokens were to be swapped for tokens in a variety of projects such as Ruon, Biquitous, or BEOS. The planned method of swap was to use an auction system.

This was announced and the technical aspects were set up by Dan N. from Blocktrades. Everything was on pace but for one issue.

Since there are ICOs going on a number of the tokens, the United States, with their onerous Land of the Free crypto laws, are prohibited from participating. This means that a part of the recipients would have to be excluded from many of the tokens being offered.

Hence we have a legal issue that required addressing. Fortunately, the legal beagles were able to come up with a possible solution which would allow a percentage of the application tokens to be placed into a company that the people receiving the manna drop would have a stake in. This would allow for the company to own the tokens for a period of one year, at which time they could be transferred to the individuals, including those in the United States.

As stated, this is a possible solution and, at the time of the video recording, was still being worked through.

Technical

Part of the BEOS project is an application called Sovereign Sky. The idea here is to put telescopes in space which then can be leased out to amateur star gazers part of the time while the rest is used by professional and educational organizations.

Since one of the main ideas behind BEOS is jurisdictional agility, it only makes sense to put up a node in space. Thus, the transactions that take place on there are subject to international law as opposed to that of just one country. A node was placed on the satellite and was used to distribute the manna. The tokens were literally (or is it figuratively) raining down from space.

Again, this was all well and good until there were technical difficulties with the node. Unlike here on Earth, as you can imagine, dealing with anything in space adds another layer of difficulty.

The solution is to move the node to another satellite. That sounds easy until the data has to be moved. From what was explained. this can only be done each time the satellite passes by in its order. Also, it has to be spoon fed meaning it takes a while. I have no idea why they opted to go that route as opposed to sending out @onceuponatime with a thumb drive to transfer the data but you know those rocket scientists, set in their ways.

For those interested, here is the full interview.

As I do my surfing around the crypto-sphere, researching what is taking place, I see a lot of the same accusations made. It is ironic because it is almost word-for-word what we see here on Steem. Did you know BEOS is going to zero? Or that it is a scam? Or run by a bunch of frauds? Or just a money grab? Or that the whales does not care?

Do any of these accusations sound familiar?

It is interesting that we see this across the crypto space. Certainly, there are those instances where it is true so we do have to be careful. We also know there are those who do have agendas and are spreading FUD for personal reasons.

What I always find interesting is when these accusations are made by people who have a vested interest in the project. You would think that those who had the most to gain would be the most optimistic.

To carry it a bit further, for those unaware how the BEOS distribution worked, the token was acquired by staking Bitshares. The BTS was placed on the platform, a move that could be reversed at any time. In other words, one could take back the BTS when he or she saw fit. BEOS could not be purchased until all tokens were distributed. They were handed out for free.

Yet, people still levied the usual accusations.

Now, I will state this is not financial advice, I do have a stake in BEOS, and that I honestly have no idea if this (these) projects will succeed. There are many factors that go into the success of a project, many beyond the control of project teams. This is why the onus is on each of us to determine what we are willing to participate in. Research and analyzing the chance of success is always recommended.

Delays are not final. We see what is taking place on a blockchain like Steem. The SMT protocol and Communities feature were delayed for close to two years. While the reason was something that could have likely been avoided, it is how things unfolded. Yet, as I write this, the testnet for the SMT hardfork is a month old and the Communities feature is in beta.

Markets can move very quickly. Development, on the other hand, that tends to progress in an orderly fashion. It simply cannot be rushed. Often, as we found out with MIRA and hivemind, there are other pieces that need to go into place before the final piece of software can be implemented.

The adoption rate of the Internet was not lightning quick in the early days either. There were a lot of setbacks and challenges to be overcome. In time, with a lot of coding, things were accomplished.

However, looking at the early adoption rates, it is evident it was a grind.

We are seeing the same thing with blockchain projects. The early days are always a test of patience.

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