I have been looking into potential Sports betting Blockchain Projects during the last 2 years. Scorum was one of the projects I reviewed almost exactly 1 year ago ( Review ). We are now 365+ days later and a lot has happened on both the crypto markets and with the platform...

My initial view was actually quite positive...

( Full Post Link )

They really delivered early on while releasing all the things they had built. The blogging platform looked nice and worked properly, there was regular communication with updates like the antiplag system and when they blew everyone away when showing and releasing the 0% Betscorum Betting Exchange. Sure there were a few bumps along the road but the project had good momentum and many (mostly the sports & Poker guys from Steemit including myself) made an account, tried it out and mostly the bettors & poker invested SCR on the market seeing the potential of a product they wanted to use.

The confidence in the team when it came down to building things was (and still is for as far as I see it) very high. All of this was followed by a complete downfall of the entire platform which has been a highly frustrating experience. The dynamics of the blogging platform were exactly the same as on Steemit which brought about the exact same issues resulting in somewhat of a war between the writers and the bettors who had different views on what the platform should be about.

  • There was some initial momentum on Betscorum but there were also concerns about a lack of marketing early on in January (SCR Price 0.0546$).
  • In February it started to become more clear that the project had an issue with betting volumes dropping quickly as sports bettors were being chased away from the platform (SCR Price 0.061$).
  • In March the price crashed for the first times -38% as many of the Sports Bettors had exited and post2mine writers also were giving up on making daily posts. (SCR Price 0.038$). Nothing was done by the devs to stop all this from happening aside from making some quick update posts with empty words and promises.
  • The price crashed even more in April with a very vague explanation from the devs that they are working on a centralized bookmaker nobody really understands while the existing platform itself was basically dying. (SCR Price 0.028$).
  • During the last couple days, the price completely dumped to 0.01$ and nobody (including myself) has the lightest believe in the project to buy even at this price.

It is all not so much about the price itself but more about the reasons why the price reached these lows.

Scorum is a highly centralized platform and the price very much goes hand in hand with the confidence investors have in the project itself and more importantly the development team.

That is pretty much where it all starts and having a great product does not matter whatsoever when all actions point toward the team rather giving up on their platform just keeping what is left from what they earned with the ICO instead of working with the community to make the best of it.

In a reply on a recent post from @brandonk, CEO @vlad replied the following...

To @vlad:

In the first place, it's not so much about the lack of advertisement or the fact that the team made the unfortunate mistake to keep all funds in ETH while the crypto market completely crashed. It is more about many fundamental things that have been going on with the platform that are just not acceptable. One of them being that the Price Feed on both the wallet and the blogging platform still shows 1 SCR = 1.00 USD.

I get why it was not changed instantly when the platform went live and the price was trading at 0.75$ on Openledger DEX. Having it still show 1$ half a year later when the actual price of SCR is barely 0.02$ is just unacceptable and makes the entire platform look like a complete joke. It's something that makes many who invested in the ICO or bought SCR at a later stage on an exchange understandably quite negative toward the team.

It is also the first thing anyone who visits Scorum for the first time notices instantly hurting the credibility of the platform like crazy as if it has completely has been abandoned by the devs or as if they try to keep up some kind of facade. The crazy posts payouts showing a $ sign as if they were USD values along with the SCR in the wallet showing in USD amounts while in reality, it's 98% lower. These things should be very easy to change and fix without requiring time or funds from the team, yet nothing is being done. It also makes it impossible in my view to also recommend or promote the platform to anyone despite the product itself being great. The broken price feed makes it all look and feel like a big scam.

So if you want a brilliant idea what can be done that doesn't cost anything but would be a first big step toward the team regaining some trustworthiness ... FIX THE BROKEN PRICE FEED

Out of all the Blockchain Betting Projects, Scorum by far is the one with the best working product and massive potential, nearly everyone will agree with that. I'm still hoping it will work out, but the way things look right now a miracle will be needed to make that happen. I'm really hoping the team can start working with the community (what is left of it) instead of working against them. This was just an initial post with probably the most basic but highly important idea on what can be done, more will likely follow...

Thanks,