Re: [ANN][POW][XPP] PrivatePay - Secure and Private | Payment Ecosystem | Revolusion
This project is such a blatant scam. So glad the price keeps dumping.
Can't wait to prove you wrong
This project is such a blatant scam. So glad the price keeps dumping.
don't see how it is a blatant scam? can you explain why?
Do you really think a small anonymous team is going to be able to hook up with a major debit card provider? And how are they going to handle instant payments/debits? This is no small feat from a technical perspective, just look at ETN and Graft as examples. And their whitepaper is totally lacking in real information. Who is "Phil Reynolds"? His last name wasn't even listed on the bitcointalk thread initially IIRC, it was added later. Is there any way to verify his name? Why not post a link to his LinkedIn page or something?
If I were going to design a scam coin it would look very similar to this. So far the market agrees with me. Just look at the trades and volume on Trade Ogre. Every day more XPP is dumped than could possibly have been mined and with almost every sale the price drops further. The bulk of volume has to be coming from the pre-mine. Of course the team could easily refute this by publishing the view keys.
Will share details of the premine on Discord/Telegram later today when one dev comes online. Nothing has been sold. All profiles details will be updated in the near future.
Premine is starting to look really bad since there was a large number of scam projects. But I don't see a lot of other models how you can actually hold an "equity" in the project you're building besides premine or some other coin distribution (like % of block reward). I'm 100% ok with it since this is not a community coin
This is also a project where I learned how miners can be greedy and the extent of it
My only suggestion to developers would be a bit more responsiveness. Crypto is a fast community and some people tend to generate a lot of negative sentiment in no time.