Last but not least

  1. We started with the idea, that the cryptocurrency market is the future and market data is in terrible shape. We couldn’t believe that any investors will make the decision to buy or sell crypto based on manipulated and untransparent prices. We are our ‘own customer’ as we ‘burned’ during the ICO days when most projects are working with the model of ‘pump and dump’.
  2. We started with a simple prototype and got accepted into LEAN Startup ventures in Shanghai, China. We participated for 1 month and decided that it wasn’t the right fit for us. We continue to build an MVP and got it to market by Nov 2018. We did our public launch in WeWork Shanghai. It was a great day for us.
  3. But the crypto market was in terrible shape at the end of 2018. Bitcoin was hanging around USD$4000–6000 and market sentiment was shit. My team quits due to a lack of cash flow. I sold my house to continue the startup.
  4. Things got better. We received small angel investments from 4 angels with who we are friends today. I used the funds to continue the development and re-vamp the product based on potential customer’s feedback. We continue building it with better backend server architecture that is scalable with Kubernetes and microservices. We built machine learning models to understand market data with LSTM sentiment analysis and price prediction with reinforced learning trading agent. Everything was moving at light speed.
  5. Things got worst from there. Despite having launched a proven MVP with data science and a scalable data model, paying customers is not coming in and money was running out fast. I tried fundraising with crypto groups in Singapore, KL, and China. Investors always need the ‘next thing’, the next milestone, the next paying customer, etc. Bills unpaid, server bills mounting, teams breaking apart again due to cash-flow.
  6. We received too many fake ‘hopes’ and fake ‘promises’. Signed investor term-sheet means nothing, crypto funds promised to invest was just a big scam, accelerator signed agreement was misleading with just ‘promise to invest’ and so much more nightmare in the Asia fundraising scene. Everyone was just hustling to get $ from each other’s pot. I even paid for a pitching slot in a crypto-fund raising event that was recommended by a friend.
  7. We ran out of $ in early 2020. We continued with whatever that is available from any token sale, crypto leftover, and flash-sale to continue while trying to get some paying customers, applying for incubators and accelerators. All of the above just managed to bring us for another month over month extension and accelerators are not buying our business model as well.

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Bitcurate

Bitcurate

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Bitcurate is predictive data analytics for crypto that help better decision making through data-driven insights powered by AI and sentiment analysis.