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fatlever

Market needs to be cleansed of Chinese Scams

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In under a year, the Chinese realized you had a gullible market of moonboys and the crypto market suddenly got flooded with about 150 Chinese scam coins.  Scammy claims of real world adoption doing trillions of transactions, running China's smart economy and doing AI computing with absolute vaporware.  Meanwhile they got the important cryptos that determine market sentiment in return, cashed out and the market keeps bleeding.  And before you call me racist for calling out these 150 Chinese scam coins that popped up out of nowhere in under a year, remember Chinese here in the US don't even invest in their own equity markets because they think it is littered with scams.  

Some of these China Hustle cryptos are obvious scams like Tron, etc.  Others are even more dangerous because you have people who consider themselves savvy investors who buy into it.  I am talking about VeChain, NEO, Ontlogy and all the garbage that has popped out of nowhere claiming they to be supply chain and new economy that will run the world.

 

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Edited by fatlever

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52 minutes ago, Craig_ said:

Any evidence to prove your list of coins are scams?

I'm not knocking OP's opinion. But I do want more proof of this. Especially Tron, Neo, Qtum, and BNB. These are big claims, and they need to be substantiated. Definitely curious about this logic.

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1 minute ago, mattwayne_c said:

I'm not knocking OP's opinion. But I do want more proof of this. Especially Tron, Neo, Qtum, and BNB. These are big claims, and they need to be substantiated. Definitely curious about this logic.

Likewise. I'm a follower of VEN and HPB on the basis of the partnerships and development they're doing. Would be interested to know why they've been included as scams.

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I'm not really convinced Tron is a scam, and while I'm not super familiar with the ONT project, the coin itself is holding up during this bear market (relatively speaking). Justin Sun is ex-Ripple, Tron has some seeming strong Ripple and alibaba connections, I believe. Sun also recently bought BitTorent and I speculate we may see some TRX integration there eventually. 

Tron's list of Dapps aren't super impressive, it reminds me of new website creation in the mid 1990s, but I'm not convinced they're a scam yet.

That said, I do agree that plenty of scams exist in this field. 

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On 7/12/2018 at 12:01 PM, Craig_ said:

Likewise. I'm a follower of VEN and HPB on the basis of the partnerships and development they're doing. Would be interested to know why they've been included as scams.

 

I really can't go through each and every one of them but VeChain is a really good example of a well thought out way to scam you of money

  • Failed Blockchain company in 2015.  No revenue, no clients no partnerships.
  • 2017 they're still not making money.  End of 2017 they do ICO which allows them to fund themselves with easy crypto bubble money
  • VeChain uses ICO to  fund a private company which they say is a non-profit organization which they say DNV GL bought an equity in ?!!
  • Massive shilling campaign that they are the world's first enterprise blockchain that will be delivering trillions of transactions when mainnet launches
  • Called out for fake partnership with Oxford.  
  • BMW itself on twitter calls out that they have no partnership with VeChain but VeChain is just participating their startup garage program
  • VeChain price is buoyed and supported by a massive fake wash trade volume at scam exchange LBank - about a month ago it was $100M volume in that exchange
  • VeChain claims they are building a blockchain from scratch.  Turns out with a 100 team of developers working from 2015, they just forked Ethereum changing the consensus.  
  • They start off ICO as a pure supply chain doing verification of wine and luxury goods but see opportunity as their token value increases.  Now they are a smart contract platform, an ICO platform, an IOT platform, they do secret contracts..
  • They supposedly deliver all these technical feats but have a copy paste blockchain and they don't have anyone technical on their team who can present the technical merits of their blockchain or their technology.   
  • See more opportunity to make money and randomly announce a token split x 100 when on mainnet thinking cheap tokens will increase appeal
  • Lots of references where CEO Sunny Lu is tweeting and talking about price and VeChain rankings on CMC or tweeting about coming announcements that will "blow your mind."
  • The whole VeChain Thor, plastic hammer, lightening, etc should be a sign of company looking to derive value from hype over substance

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On ‎7‎/‎17‎/‎2018 at 4:48 PM, Eric123 said:

@fatlever  Wow you made a graphic.   What are you like 17????  

Eric123, you're how old on a forum insulting somebody over something that is possible to be true; rather than partaking in an educated debate that could teach readers such as myself possible facts and falsehoods; but instead we have to read your reply?

Edited by Guest

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On 7/17/2018 at 4:48 PM, Eric123 said:

@fatlever  Wow you made a graphic.   What are you like 17????  

Did I not present some factual information along with the graphic (which I didn't make)?  I was just trying to warn people of all the red flags these Chinese coins have and how they are bleed money from quality projects.  Since I created the thread, VeChain is down like 40%, could have saved some people some money.  

People have been bamboozled keeping at one point $40-50K trying to hold their lowest tier nodes while they themselves have 101 authority node which at one point required $20 Million dollars that got all the bonuses and nobody could afford except VeChain itself because they own 80% of the tokens:

https://etherscan.io/token/tokenholderchart/0xd850942ef8811f2a866692a623011bde52a462c1

 

 

 

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On 7/18/2018 at 11:34 AM, Mr_McFearson said:

Eric123, you're how old on a forum insulting somebody over something that is possible to be true; rather than partaking in an educated debate that could teach readers such as myself possible facts and falsehoods; but instead we have to read your reply?

Possibly true???? If you weren't probably a teenager yourself you would know you can't take billion dollar projects and slam them as frauds based on something that is "possibly true" .  It's libel.   

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2 hours ago, Eric123 said:

Possibly true???? If you weren't probably a teenager yourself you would know you can't take billion dollar projects and slam them as frauds based on something that is "possibly true" .  It's libel.   

Does it bother you that there is a possibility to them being scams?

I think it does, since you're making some wild assumptions about somebody you don't know. 

Everything that I've seen in the crypto world.. I wouldn't be surprised if most of the money was pure inflation created by Tether and Bitfinex, but that's also another TFH theory.

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