Sentiment around Icon hitting record lows, ICX is bleeding out a slow death

The vision of the ICON Project is to introduce the new era of decentralization by redefining the meaning of communities and creating a new world by connecting such communities or to put it in their words: „With ICON, we now enter into a world of true hyperconnectivity“.

That sounds neat but the team behind the project keeps failing to deliver any substantial progress, even the trivial things like updating the roadmap or releasing the last part of their Yellow Paper are nowhere to be found.

Most of the major altcoins that came out with big promises are starting to show weaknesses now that the hype train has left the town. When it comes to Icon, there is more and more “sloppiness” and “shady practices” with some disputable fine print from their official documents bubbling up.

Once the time comes for real work and delivery on your promises, even the most trusted coins in the space can’t deliver on what their promised. Making promises and announcing announcements is easy, creating real value is hard.

It is hard to stay positive in a gloomy market we are in for almost 6 months now. ICX holders have high hopes pinned to their coin, although the team behind the project hasn’t been up to the task lately. It appears the team has mislead the investors when it comes to the timeframe of the milestones: most of the buyers expected all the big features from the whitepaper to happen much earlier than they are happening.

There are some weak tremors of life from the coin but the outlook is pretty bleak right now.

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One of the community members put up a list of things ICX holders wish for from the team:

The issues we are hoping to be solved are from most urgent to least are:

1- Release of yp part 3 and staking details. It was said it’s ready and supposed to be released soon.

2- Real AMA session

3- Details or time frame, for example if they are waiting answers from Swiss authorities etc., of $5m buyback

4- I personally wish to see an updated roadpmap and following it this time, not to ditch it again. And please leave a long time frame if you can’t estimate the deadlines to accomplish tasks and finish them on time.

These are the thing will effect the price positively and not so hard to announce either. Public sentiment is at lowest right now, they can definitely do something and calling people “fudding” won’t help that. You act like icx supposed to lose value until ICO prices and us to be fine with it. It could be prevented if Min and the team take some action. Icon is bigger project that was not supposed to be here but because of small issues escalated so far that’s why the price is here. Everyone hoping a pump to dump bags on each other. With some trust things can be reversed and we can finally see an healthy price correction this time. I’m not talking about hype and going back to $12 either.

The mood shift around the ICX is notable – from the next big thing, to the utter disappointment. Unless some huge catalyst occurs, this project is bound to bleed out a slow death.

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Damian Booker
Damian Booker

First thing to know about Damian is - he HATES shitcoins and has declared a war on them! Damian is a bitcoin hodler since early 2013. He used to mine Ethereum back in the day as well. Nowadays he likes to discuss bitcoin and its potential influence on the society organisation and governance. Damian hates fraudulent projects and his mission is to shed light on the maggoty scammers that have invaded the crypto space with their zero-value projects.

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