User Tools
founding_team_hardships
Differences
This shows you the differences between two versions of the page.
| Both sides previous revisionPrevious revision | |||
| founding_team_hardships [03/28/2023 11:22] – gfactor | founding_team_hardships [05/28/2023 22:48] (current) – someone was wrong about mining operation location... Montreal, not Alberta... crowetic | ||
|---|---|---|---|
| Line 5: | Line 5: | ||
| It is important to be transparent on all fronts, so with that, comes the financial situation of the project. When Jason Crowe (Crowetic) took over the development of QORA in 2016, it was determined that the QORA code would not be practical to continue building on. Therefore, the decision was made to rewrite the codebase in a clean Java code. Furthermore, | It is important to be transparent on all fronts, so with that, comes the financial situation of the project. When Jason Crowe (Crowetic) took over the development of QORA in 2016, it was determined that the QORA code would not be practical to continue building on. Therefore, the decision was made to rewrite the codebase in a clean Java code. Furthermore, | ||
| - | During this time, Crowetic was actively trading cryptocurrency on various platforms, had a small mining operation between two houses, and a self-started business providing computer repair, IT service, and blockchain consulting. Crowetic never expected to have to fully fund the Qortal Project on his own, but that ended up being the case for most of the story to be told. With the vision of what Qortal could offer the world, and how the current blockchain space was beginning to look less promising for a future where its applicability seemed to be overlooked, Crowetic made the decision to make a full commitment to Qortal’s development. He and the main core developer ‘Cat’ worked tirelessly to design and build a working core product. Crowetic devised a plan for a large mining operation to be done in Alberta, Canada. He and a couple partners pooled funds together, purchased land when an agreement was made with the agent on behalf of the local power company, and had the perfect plan to create cash flow for Qortal’s development. Thereafter, the power company went against the agreement and raised the price of power to an unfeasible rate as the operation was just underway. Having gone ‘all-in’ financially between the partners, there were no financial means to prevail from a mining operation stand-point. Crowetic did what he could to help smooth things over with his partners, and try to focus on the day trades and asset HODLing he was already engaged in daily. | + | During this time, Crowetic was actively trading cryptocurrency on various platforms, had a small mining operation between two houses, and a self-started business providing computer repair, IT service, and blockchain consulting. Crowetic never expected to have to fully fund the Qortal Project on his own, but that ended up being the case for most of the story to be told. With the vision of what Qortal could offer the world, and how the current blockchain space was beginning to look less promising for a future where its applicability seemed to be overlooked, Crowetic made the decision to make a full commitment to Qortal’s development. He and the main core developer ‘Cat’ worked tirelessly to design and build a working core product. Crowetic devised a plan for a large mining operation to be done in Montreal, Quebec, Canada. He and a couple partners pooled funds together, purchased land when an agreement was made with the agent on behalf of the local power company, and had the perfect plan to create cash flow for Qortal’s development. Thereafter, the power company went against the agreement and raised the price of power to an unfeasible rate as the operation was just underway. Having gone ‘all-in’ financially between the partners, there were no financial means to prevail from a mining operation stand-point. Crowetic did what he could to help smooth things over with his partners, and try to focus on the day trades and asset HODLing he was already engaged in daily. |
| The next big hurdle was the unexpected issues that arose with the implementation of BTC in the Trade Portal. Ultimately, trades were too slow and expensive so LTC was added to replace BTC. BTC trading was deactivated while BTC wallets remained. The hope was that the Trade Portal could provide liquidity to the market immediately, | The next big hurdle was the unexpected issues that arose with the implementation of BTC in the Trade Portal. Ultimately, trades were too slow and expensive so LTC was added to replace BTC. BTC trading was deactivated while BTC wallets remained. The hope was that the Trade Portal could provide liquidity to the market immediately, | ||
founding_team_hardships.1680016957.txt.gz · Last modified: 03/28/2023 11:22 by gfactor