The ICO That Couldn’t
In a dramatic twist in the crypto world, the much-anticipated initial coin offering (ICO) for the EXX/XBTC mining operation, touted to propel Bitcoin Unlimited, has hit the brakes. Leading the charge was none other than Chandler Guo, a figure known for his passionate beliefs in the cryptocurrency realm. Unfortunately, reality decided to play a cruel trick, and the ICO barely drummed up a measly 16.47 percent of its funding goal. Cue the sad trombone, please.
Refunds on the Way
With only a total of around ￥33 million collected, it looks like contributors will soon see their funds returned to their original accounts. Nothing says “thank you for your enthusiasm” like getting your money back, right? This move follows the second round of the ICO which spanned from March 9 to April 8, where supporters hoped their dreams of mining greatness would turn into a golden reality.
Bitcoin Unlimited: Love It or Leave It?
Guo, known for recently waving the Bitcoin Unlimited flag, promoted this ICO with a personal reward link. It’s worth noting he’s neither the organizer of the event nor the owner of EXX. This promotional strategy raised eyebrows and made industry insiders wonder if Guo’s association with Bitcoin Unlimited might have scared off potential investors.
A Lack of Hashpower Confidence
The original plan involved taking a hefty hash rate of about 50 petahashes from BW.com and directing it towards the new X-Pool to bolster Bitcoin Unlimited’s capabilities. But as Guo announced he would shift his mining power on March 21, doubts crept in: was this the right move amidst a community rife with contention over scalability? Turns out, the community wasn’t ready to embrace the change, leading to little more than a hush in the investment department.
What’s Next for Guo and EXX?
Despite the hiccup, Guo has notable stakes in Ethereum Classic (ETC). He’s already poured capital into startups operating on the ETC protocol, hoping to nurture the ecosystem like a proud parent. It’s no surprise he raised about 1,769 BTC (around $2.2 million) for his latest venture aimed at launching a cryptocurrency exchange, etcwin. The ICO termination does little to darken his outlook, but it sure leaves a question mark over his influence on Bitcoin.
The Need for Confidence in Cryptocurrency
While Guo is an entrepreneur with interests straddling various projects, the community’s mixed responses reflect a deeper hesitation to rally behind leaders with strong opinions that might divide rather than unify. In a landscape where innovation and collaboration could lead to revolutionary outcomes, every setback like this ICO’s cancellation serves as a reminder: clear communication and shared visions are key to fostering stronger support for emerging technologies.
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