Back in the early days of steem there was another project I was following called Synereo. Steemit is when I got into crypto as I was looking for projects for content creators. With Steem going from .25 cents to 4 dollars in the early days it only made sense that another project in the space would be a good investment. The big one at the time was Synereo which planed to use it's own blockchain and the synereo coin (AMPs). If I recall the project was going to work like a neuron network with different cotent building connections to each other and the stronger the bonds the better higher the association.
I got involved in the ICO and got my coins for around a quarter if I remember. I didn't put much in but at the time if was a good amount of money for me. This is when I was a crypto noob and I have (hopefully) gotten a lot wiser with my investments. This project made millions in investments and at that time we all thought with so much money there were bond to create something of value.
With my bags ready I waited for the project to get released. I planned on using the coins I had and start posting my work on the Syerneo website. But after waiting and waiting nothing got released. I stopped paying attention and moved on to other porjects.
Matters then got worse for the coin. The two leads got into a big fight about the direction they were heading. One was focused on the website while the other was focused on the blockchain (R3) that is was supposed to be built on. The blockchain dev said the blockchain wasn't ready and it could take years before it was at the level where it was ready to be used properly. The other lead was ready to start launching the site and get amps working.
This cause a split with the lead who wanted to build the site taking over the project and the funds completely. The problem was there was no blockchain now and the website would have to be released on a new chain.
After more time passed the project was renamed Hyperspace and released for use. The site was actually pretty well made and could've been a contender in the content space. It was easy to use and could compete with mainstream apps at the time.
But the problem was you could not take out the money you made for your work. Unlike other sites which paid out and allowed you to take out your money when you wanted to (like Leo), Hyperspace had no wallet. There was no way to get your money in or out of the site. There was also no mention if we were on a blockchain and to be honest we probably were not even using one.
The plan of Hyperspace was to give users a UBI that you had to spend on other users. You could earn for your work but also by amping content that did well. It was a unique system and encouraged people to use the site. I made a lot of coins posting but at the end of the day they were only points and not money as they were stuck on the system.
Time passed and without a plan or ad revenue the site went under. It was not a surprise but it was unfortunate as there was a lot of promise on the site. Plus I had a lot of coins so that felt like a waste of my time for the work I put in. To make it worse a lot of people who bought the coin lost a lot of money as there was no more plans for the Syenreo coin.
The project went under completely and as far as I know there is nothing left of it nor plans from anyone involved to remake the site. You can find the Hyperspace coin on coinmrketcap but as you can see by clicking on the link it is now marked as an untracked listing.
This was a lesson learned the hard way but I did learn from it and it has made me wiser in this space. But it is still too bad to see projects with a lot of funds go under like this.
Anyone here use the site when it was up?
Posted Using LeoFinance Beta
mistakes made in the beginning, when we all aspired to success and had no idea we were throwing ourselves into a trap.
They are life lessons that form you. Today you would never make such a mistake again
Posted Using LeoFinance Beta
I used it for a while but sols join on time.
Posted Using LeoFinance Beta
Good for you for getting out when you did. I went down with the ship.
Posted Using LeoFinance Beta
So many have come and gone Remember Weku and Sapien.
Sapien is still around I think, but it is still hard to use.
Posted Using LeoFinance Beta
I just read this 1st time .
Well its good .way You are advising
There are a lot of projects the try to copy but I think to be oreginal idea and be unique is the key I also see lot of Bitcoin project like Bitcoin black white etc
But I trying to invest in original and with strong team and 1 leader so they don't fight afterword and effect project