In a bid to operate as a link between traditional finance and the digital asset economy, Bithemoth platform has come up with a simple and conventionally adoptive system. Three major aspects of the digital economy will be simplified by Bithemoth's diverse ecosystem thus presenting (i) an exchange, (ii) a trading platform, and (iii) a complete ICO Incubator.
A wide range of services that were absent in a single system will be made available as Bithemoth works alongside her partners. New traders can invest in cryptocurrencies with a few clicks on the exchange using our adjustable and user-free environment while, professional investors will conveniently use our trading platform that has been designed with a vigorous tool-set. Bithemoth ecosystem envisions her ability to provide companies with an ICO Incubator that is ready to use and that which supports project development thus, enhancing growth and collaboration.
Bithemoth hopes to offer payment processes for both cryptocurrencies and fiat that are fast and secure by establishing banking relationships that are stable. Bithemoth also plans on implementing and adding to the already existing features, a unique system of rewards for BHM purchasers, and carefully designed custom trading solutions to meet the needs of the digital asset economy.
Rated on Jun 27, 2018
i am bothered by the fact that they couldnt come up with anything original in terms of branding. As I see it the branding is far too close to that of an existing competitor in the space.
I think that that overall given the size of the team and available resources as they are presented, this is an overly ambitious project with far too much going on.
There is no real "solution" presented here that doesnt already exist in todays market place.
Rated on Aug 31, 2018
Very average team. Very weak White Paper. The project tries to make directly 6 directions, and it means that all directions will be weak. All strong projects are focused on one in the beginning, and already then step by step expand the directions. It is also visible that the team lacks the international experience.
Thanks for your feedback we truly appreciate it. You are exactly right that in order to achieve such a large project we would need to focus on each aspect at a time , and this is exactly what ww are planning to do. I believe our roadmap will give more information on how we are aiming to reach all of our development goals in a realistic but also timely manner. In addition, our international team currently spans 4 continents but of course we are always open to employing more diversity as we see this as one of our main strengths.
Rated on Jun 28, 2018
Basically it is based on the precedent case of BINANCE.
That is why why do we need to choose BITHEMOTH instead of BINANCE?
That clear answer is not presented.
And is there already a product (prototype)?
Investors will want to see it.
Because milestones are not clear, I feel uneasy about development.
Many team members do not have a link to Linkedin.
Thanks for your respone. We are planning to have an MVP up soon, and all of our milestone goals are listed on our road map. I hope that you continue to follow our development as upcoming updates will address all of your concerns!
Rated on Jun 17, 2018
Too much going on here. It's my experience that young entrepreneurs that try to do too much end up doing a lot of things sub-par rather than one thing great.
You are trying to tackle too much - all of which have projects that are focusing on one of the six proposals you put forward.
The Linkedin link for the CEO is dead. Not good. Whitepaper is decent.
I appreciate the response and we have corrected the Linkedin link. In addition, I completely understand where you are coming from with your concerns and this is why we have implemented a milestone system for our development. This will ensure that we can reach all of our development goals, with a strong focus on quality and usability, over a reasonable period of time. Right now we are also in the process of acquiring strategic partnerships to aid in our development.
Rated on Aug 16, 2018
In a world full of fierce competition, I think the Bithemoth team is trying to do too much and risk spreading themselves too thin.
My advise to them would be to take one thing and focus on building it to the best possible standards.
Also, the branding is very vague. They need to be targeted with their branding.
ICO team member replied on 15 Sep 2018
Thanks for the advice we will take it into consideration. We also do agree that it will be best to focus on each individual aspect separately, which is why we have set out a realistic road map to meet our development goals in a timely manner.
Rated on Aug 21, 2018
They are focused on many different items/sectors which is good long run. But short term, they have to focus on 1 main product and let us know when they are better than idex,binance,huobi in 1 simple sentence. Thats all. Will revise my rating once I see more items out.
This is not financial advice or a recommendation to invest in this or any other ICO. Investors must perform their own due diligence and not rely on external ratings to make their final investment decisions. ICOs are risky and 100% loss of capital is possible.
Thanks for the response we do appreciate it. I hope you continue to follow our development because we have some exciting updates coming out soon.
Rated on Jul 30, 2018
Team - seem quite inexperienced for what they are looking to acheive. Could do with advisors to guide the C-suite team. CFO appears to be a dentist as opposed to an accountant.
Vision - WP states a lot of what the project wants to do, not how the project will do it. If the focus turned to running a user friendly exchange with top level support, I think there is a chance of success - this would be a USP in a crowded marketplace - but the idea of the incubator seems a bit 'tacked on' given the team's experience. Perhaps partnering with another project for this aspect might be a better idea? Tokenomics not very well explained.
Product - no MVP on website. With the primary product being an exchange, I would expect to see this and some guidance as to what ICOs need to do to become part of the incubator (and how the incubator will work) already available.
The project feels like a little more experience is needed on the team to make the vision more complete and rounded.
Good luck to the team with project implementation.
Thanks for your advice we will take them into consideration moving forward. I agree that the market currently lacks an exchange with a focus on the user, and this is exactly what we are trying to achieve. We really do hope that you continue to follow our development as we have some exciting updates to come.
Rated on Aug 21, 2018
I think the team has established too large a goal for themselves. It seems as if they are trying to do too many things at the same time. The market is quite saturated and this idea is not unique. If they put strong efforts into branding and marketing, they might have a chance at success.
Thanks for the advice. One of the ways we are trying to achieve all of our ambitious goals is by focusing on them individually. This is why we have created a roadmap to show how we will meet our developmental goals in a realistic but timely manner.
Rated on Jun 22, 2018
Although I like the whole idea of the Ecosystem consisting of 3 elements, the exchange, a trade platform and an ICO incubator, I feel that you will need a more mature and experienced team or well renowned advisors to help you achieve your goals.
Thanks for your advice we are always looking to expand our team in order to gain as much experience as possible.
We hope that you continue to follow our development,
Rated on Sep 11, 2018
1. Relatively inexperienced team. No prior experience in building company or working with blockchain.
2. Too many goals.
3. Low hardcap for cryptocurrency exchange. Exchange needs liquidity.
4. No MVP.
5. Market has lots of projects in this space either already in production or getting there.
6. There is not much on github. Not even token smart contract. Only some images and stylesheet.
7. Lack of influential and experienced advisors.
On the good side,
1. Some good marketing activity. Articles on Medium and 4000 Telegram users. Also activity on Bitcointalk, Facebook and Twitter followers.
2. Well designed website with good graphics and clean presentation.
Thanks for your response we truly appreciate it. These are all valid concerns which i believe will be addressed in the upcoming updates.
We hope that you continue to follow our development in the future.
Rated on Aug 31, 2018
“An All-In-One Blockchain Asset Solution. To provide a permanent solution to the Blockchain world is our goal. One of the greatest asset platforms”. I couldn’t find in the proposal any attribute that justify the use of blockchain in the project, as decentralization, democratization,….or at least some added value points for reducing the barriers to entering cryptology in such a platform. I´d like to have seen a MVP running, may be the exchange in Alpha version. I´m not very confident that they will reach the goals despite 13 people working in the project (not too much experience in the crypto space I presume).
Thank your for your response. We hope to have an MVP up soon so potential investors will be able to test the platform beforehand.
we hope you continue to follow our project in the future,
Rated on Aug 30, 2018
Modified on Aug 30, 2018
The team behind Bithemoth is inexperienced and lacking much needed expertise in both the crypto space as well as the corporate space.
The whitepaper is definitely lacking details, as the team is promising a lot of things - but I cannot figure out how they are planning to do so. They are aiming to launch a top-notch, user friendly exchange with 24/7 customer support. Currently the space is being flooded by projects aiming to do the same and almost all miserably failing (see Elepig). The incubator idea might be okay, but it's also one of the things holding some other projects back.
They might need some good and major partnerships for an idea like this to succeed, but then they will still struggle with all the other things Bithemoth is promising. I do like the fact that they are not aiming for tens of millions of dollars, with their hardcap set at $5M. However, even this number might seem out of reach for this team.
Thanks for your response. we are currently updating our whitepaper to add more details on our project and development goals. We are also completely agree that partnerships and branding will be key to our success and this is why we have already started acquiring relationships with established cryptocurrencies such as reddcoin.
Best wishes and I hope you continue to follow our development,
Rated on Aug 31, 2018
Modified on Aug 31, 2018
Laser focus is key to all success, hope the team can focus on one aspect first before trying to accomplish too much. Project scope is wide and ambitious, resources may be spread too thin because of this.
We completely agree that our teams focus will be key to our success.
Thanks for your response and i hope you continue to follow our development,
Rated on Jun 25, 2018
You need to focus on one thing to be good at it. If you try to do a lot of things in parellel, you will most likely fail.
The team looks very young. They need to add some experienced professionals.
Thanks for the feedback we truly appreciate it. We also are looking to expand our team to include more experienced members, so we hope you follow our development as we have some exciting update to follow soon!
Rated on Aug 19, 2018
Like how the other reviewers stated, there is a definitely a lot going on in terms of the ecosystem. It will help to build a MVP/PoC for the investors to look at. The team looks relatively inexperienced as well. Very ambitious project.
Thanks for the response, I hope you continue to follow our development as we are going to be putting some exciting updates out soon.
Rated on Sep 4, 2018
Modified on Sep 5, 2018
The Bithemoth team lacks essential industry experience. BHM is the first blockchain related project for the majority of the members and they are not advised by any seasoned industry veterans to make up for this absence. Several of the members - including the CEO - have between one and 50 linkedin connections and some of the devs are simultaneously working on other projects striving to achieve the same goal as Bithemoth. Muhammed Nagy with Bixer PTE Ltd. for example. Any conflict of interest here? I am sure there would be if this could be considered a serious project.
Bithemoth is targeting an inexperienced, public investor audience with vague but grandiose promises. The wording on their social media and medium articles is very basic and addressed to an audience unfamiliar with blockchain or the industry. When explaining your platform, please don’t start with Satoshi Nakamoto. None of their promised features are revolutionary or not yet implemented by other exchanges or blockchain asset solutions. The website mentions that BHM is a great investment both short and long term several times and tries to convince the amateur investor with blockchain jargon and a 50% buy back of all BHM tokens. No mention of how this buyback process will go if the hard cap is not reached. The team addresses some market inadequacies in their pitch deck, none of which are actually still prevalent. Direct quote:”Current exchanges are severely lacking in many aspects: Confusing U.I.’s. Nonexistent customer service. International and multilingual support. Poor exchange security. Tedious and long setup processes and wait times. Scalability.” While particular exchanges excel more in some aspects than others, all of them are addressing these shortcomings.
The market analysis lacks proper competitor and market research. Mentioning that “Our major competitors from our analysis are Binance, Bitfinex, Bittrex, KuCoin, Altcoin Trader and Luno.” Is not competitor analysis. The whitepaper and one-pager include the token allocation. Unfortunately, the amount allocated to marketing is less than that allocated to the founders. 5% to 6.25% and there is absolutely no mention of what is done with the money taken in during the ICO and pre-/fire sales. The Bithemoth team has blended their token distribution into their token allocation resulting in a useless model.
The marketing and business strategy are nonexistent. This is actually not a problem in my eyes as the amount of tokens allocated to the business development and marketing is minuscule. No need to plan for something that you’re not intending to pursue. The roadmap is inadequate at best and lists nothing more than inconclusive milestones. There is no GitHub code base available. Bithemoth is one promise away from a scam.
Thanks for your feedback, we will truly take it in to consideration moving forward as we do value community feedback.
Rated on Aug 20, 2018
Modified on Aug 20, 2018
The team itself looks good, however my issue is regarding the idea itself.
There have been too many new exchange launching over the past year an majority of them have lacked to gain any momentum regardless of their features. Being a decentralised exchange as of right now might cause more issues than benefits and the promise of having good customer support while great in theory has been proven to be very difficult to handle even from the biggest legacy exchanges.
Why would I need to use a new exchange when I can have Binance and others with great UI and ease of use?
I have not been able to test a live version of the product as of yet.
Rating might change once we will have a finalised version of the exchange.
If it happens to gain volume (real one not fake generated volume be aware of some Chinese exchanges) the profit margin of any exchange is usually very good and beside the risk of hacks the cash flow should be positive.
The idea will be successful if it manages to gain users
We really do appreciate your response and agree with you completely that one of the largest hurdles we will face as a new exchange is gaining a user base. This is why I believe we are unique in the fact that we are choosing to first focus on a unique market such as South Africa, which should help mitigate this issue.
Thank you again,
Rated on Sep 21, 2018
No doubt about the team. My concerns are about the idea.
Exchange space is very crowded nowadays and it is very difficult to gain momentum and users.
Try to explain better why you will be successful while other failed.
Good Luck and push hard!
Rated on Jun 11, 2018
The team is young and is tackling a space where there's already a lot of competition. Also no clear information on how much they want to raise, I would recommend putting a number on their hard cap (and a reasonable one). They should also review their soft cap since it's too high for a market very bearish.
Thanks for your response, we really appreciate it. That soft cap was actually a mistake as it was supposed to be our hard cap for the pre-sale. We have corrected our listing, and hope that it clears some of the confusion. At the moment we do not have a set soft cap for our pre-sale, nor a hard cap for our main ICO sale as we are still conducting market analysis.
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TeamApply as an advisor
Dr. Mohamed Ciscos
Dr Kevin Lai
Director of Business Administration
Head Development Coordinator
Lead Software Engineer
Lead Front End Developer
Graphic Designer - Illustrator
Lead Web Developer
Bithemoth is born!
Core team creation
Negotiations with international partners began
Global team expansion
Partnership with HOLD
Social media activity began
Partnership with ReddCoin
Preparation for presale
Partnerships & continual development
Start of presale
Full exchange release