Re: [ANN] SophiaTX Announcement - The Blockchain for Business
Totally irresponsible to just leave worthless sophiatx tokens to be sold on exchanges like etherdelta. Fuck your company.
Why? From their perspective is great. They sold ERC20 tokens and don't give people mainnet tokens then the team can sell the same tokens into the market a second time.
More money for them. Fuck the token holders and project supporters right. Unregulated crypto space is a scammers dream world. And the team are crooks.
Wow, such an offensive statement you are making here. I wasn't following Sophia for a while, but I have some ERC-20 tokens in the wallet. Wanted to swap them, but now I'm thinking to sell.
Can you please provide proofs of what you are saying? How they scammed people and didn't give coins after mainnet launch?
He does not properly understand how this process works, they did not scam people at all. As you can see in the Token Swap instructions here:
https://www.sophiatx.com/storage/web/SophiaTX_TokenSwap2.pdf?_t=1533808900
You do not actually send the ERC-20 tokens to the team, you link your existing public key to a new SophiaTX public key by sending a 0 gas transaction from the ERC-20 address that you currently control. No actual coins get sent to the team. After going through the process your new MainNet tokens will be accessible through the created public/private key in the before mentioned process.
It is true that the remaining ERC-20 tokens can be sold onto a second market (by the person who still holds the ERC-20 tokens, not the SophiaTX team), however the SophiaTX team already has announced that they will have a buyback program for these old tokens:
Quote
The team has decided to introduce a voluntary Buy-Back program for all old ERC20
tokens. As per previous communication, the old ERC20 tokens are no longer valid for
the token swap for "new" tokens (native to new mainnet). The Buy-Back will be done
at the rate of 1 new token for 20 "old" ERC20 tokens (1:20). These tokens will be
bought back by the team and represent a fair mechanism; this allows the SPHTX team
to distribute more tokens to the existing community, which has been very supportive
of the project. At the same time, it allows for the process to eliminate old tokens from
circulations. The procedure will be available later in August, and the Buy-Back campaign
will last until at least the end of September.
tokens. As per previous communication, the old ERC20 tokens are no longer valid for
the token swap for "new" tokens (native to new mainnet). The Buy-Back will be done
at the rate of 1 new token for 20 "old" ERC20 tokens (1:20). These tokens will be
bought back by the team and represent a fair mechanism; this allows the SPHTX team
to distribute more tokens to the existing community, which has been very supportive
of the project. At the same time, it allows for the process to eliminate old tokens from
circulations. The procedure will be available later in August, and the Buy-Back campaign
will last until at least the end of September.
https://www.sophiatx.com/storage/web/SophiaTX_Update.pdf?_t=1533037375
The swap procedure looks very strange and not just a regular send=>receive. That is why the guy above probably assuming scam. They read your ETH address for tokens and swap by balance, then you need to wait upto 3 days and check yourself in some github list. Why to do all this hussle? Most of the swaps I have participated is just easy as it is.
Oh, btw where is the wallet? Is it just web-based or something?
I assume that SPHTX lost so much in value not just because of bear market
The team told me to consolidate my holdings on Qryptos and everything would be reviewed, sorted out and OK.
They gave out bad advice. Not timely advice on procedures. How is tweeting two days after snapshot that anyone with funds on unsupported exchange or moving them isn't getting mainnet tokens? Little late don't you think? Not well publicized procedures. One or two tweets day of and day after are not sufficient. Not everyone is face locked to Twitter on their phone 24 hours a day and is a totally unreasonable expectation. It is incompetent beyond belief. It is unethical beyond belief they make no effort to fix and instead confiscate tokens for their own personal gain.
In any other market they would be hauled off by regulators in hand cuffs.
Oh and after waiting patiently for a month I find out not getting anything not even for tokens never moved all year. The response from SophiaTX was "lol better be more careful next time. take it up with Qryptos" Yeah they are a fucking scam. They are going to find a way to screw all of you just wait and see. It isn't like any of you are senior management at large companies with SAP implementations. They have our money already and don't need you.