Post
Topic
Board Altcoin Discussion
Re: Proof of Weak Hands explained [P3D]
by
kmkfan628
on 29/03/2018, 05:20:19 UTC
this is no essay writing contest, i just type it as it comes to me. the point of language is to communicate, im pretty sure i was successful.

so the last person before this post is EXACTLY what is wrong with this!!!! most people cannot interpret the code and are being talked into buying into this as if it is an investment, but its no investment.... again this is exactly what a ponzi scheme is... "paying out what would normally be impossible returns to early adopters at the loss of the later adopters".

i take offense with the assertion that this is just like every other crypto out there and that all crypto are just created in order to benefit the devs. this insinuation is blasphemy against the crypto community and that type of sentiment will just drive ALL the value out of crypto because without a use case crypto is dead on arrival.

this coin is not comparable in ANY WAY to other alt coins out there! you cannot with a straight face compare a self described pyramid "game" to the hard work of developers of other projects. this is everything that is wrong with crypto.... most alt coins are not simply created in order to make the early adopters wealthy. sure some are completely fake from the start and have a huge premine and the devs themselves demolish the price in order to just get out and buy a lambo. i would NEVER support these kinds of coins or tokens and many people have lost badly on being convinced that a coin will appreciate because it is going to solve a problem or make some aspect of life easier!!! and i hope no one who is serious about the benefits which crypto can bring to humanity would support those types of coins either. every single coin in the top 100 and hundreds of more beyond that were created with INNOVATION in mind to solve a problem. some coins operate as a utility only token for facilitating micro payments across boarders, or as a transfer of value. other coins are more like a security or a way for a company to raise funds for an ACTUAL project which will have benefits to the community or humankind in general. ANY coin, this one included, which has a sole purpose of paying off early adopters at the expense of the later investors is absolutely UNETHICAL AND WRONG! and its giving our entire community a bad reputation. let me re-iterate.... this token DOES NOT HAVE A PURPOSE, does not have a use case, doesnt not offer any benefits to the ERC20 platform or the people who buy it other than to specualte on how high you can pump it before getting out. this cannot even be used as a payment mechanism like the most basic cryptos because of the exorbitant fees... again, anyone promoting this is nothing but a 2 bit thief using cutting edge technology to rip people off.... because anyone who understands this knows that when those early adopters do exit the price will crash hard and i mean HARD, and they WILL exit because like previously stated this was created soley for those who buy in to try and make money, and to make anything you have to eventually sell. its a nice concept to tell people " DONT WORRY NO ONE OWNS MORE THAN 3% INDIVIDUALLY, NO ONE CAN EXIT SCAM YOU".... wrong! this thing is nothing but an exit scam, but you cant call it a scam really because they tell you from the get go that they are going to take your money to your face...

JUST THINK OF HOW FAR DOWN THIS TOKEN COULD GO!!!! the initial price is .0000001. and those people who bought in early got over 1000 tokens for 1 eth and ppl getting in now are getting like 90 coins for 1 eth!!!! these differences are not insignificant and represent how much the early adopters tokens have really appreciated in value in the few short weeks since its launch. eventually just like EVERY ponzi people will start to need the money back and when the real world calls and people start pulling out the price will start to crash significantly. just one ambassador selling his 1 eth worth of coins he bought would tank the price by .001000 or more. thats ONE person!!!! if it was one of these 3% holders with 4k coins it would drop the price by .004000 (the increment up and down for every coin bought or sold is .0000001)

in the code i linked there are 12 address which are anonymous, and every other public key is linked to a nickname not any actually identifiable information... i 100% believe that each of these addresses do not represent an individual, but that a small group of people are in control of all these public keys. at any time when these early ambassadors decide they are happy with their 10,000% interest they will start to pull out, individually or as a coordinated group, but either way this "well distributed top of the pyramid" still has way to much power over crashing the price, and none of them did anything worthwhile for them to be getting paid out that big (again the coin has no inherent value and solves no problem). if this was not crazy unethical and bad for the community why are people like craig grant and other PROVEN scammers promoting this coin? do you think they had a change of heart and all of a sudden and are now investing in platforms and coins which are progressing the technology of blockchain for the good of mankind? fuck no. they are lazy and want to just take money from other people without doing anything to earn it , once a thief always a thief. this is just thieving in the 21st century i guess. and just because its open source and your telling people they will likely lose their money or to "only invest what your willing to lose" doesn't make this any better, because it is so technically complex that 99% of those convinced to buy in really don't understand at all the risks or circumstances around this scheme...

creating shit coin to pump and dump.... unethical and wrong
creating a token with no use case other than to pump it as high as it can go then get out before you get whacked.... unethical and wrong
convincing anyone to get involved in any of these types of coins.... unethical and wrong