Crypto is a mine field. It has been for a long time and in this bear market projects are exposing themselves more and more. Don't think that you're safe if you avoid smaller exchanges as there are a few coins that don't quite add up on Binance too. This post isn't to FUD but to make people aware and to dig a little deeper on the projects you buy into. We should help out one another when we can. That's what this reddit should do more of.It takes a second to look into projects and start forming puzzles that don't quite add up. Projects need to realise this isn't December 2017 any longer so people aren't going to blindly throw money at you without calling you out.Case in point CMT #138 on CMC. I did some sleuthing as I was curious to know how they beat XMR in a 'battlebracketz' voting tournament. Well:"decentralised blockchain for e-commerce. We are going to disrupt Amazon!" takes 5 mins to discover it's 5 miles raising 30million on an ICO. using that money to fund their Dallas mavericks sponsorship. Bringing the cybermiles "CEO" along with a 30 second meet and greet with mark cuban and then them acting like Mark Cuban is interested in cybermiles. The 5 miles CEO showed cuban the app and he asked if it was "a wallet" and they said no and he looked like he couldn't give a shit just happy to take you 3 year sponsorship money. The reality is cybermiles works with noomi wallet and that wallet created the tournament. Basically their way to pump up their own coin. Not to mention tweeting that they have a google partnership and then deleting it.https://www.youtube.com/watch?v=NeqqrObV21oNext up: ARN (AERON) #385 on CMC. I'm not sure how they were listed on Binance other than they paid for the listing. It was almost impossible to find information about it last year except from their website that claimed it would improve flight safety on the blockchain (Aviation on the blockchain)! And flight sharing for private jets... The only thing they have managed to do all year is create a flight website that allows you to buy stuff with BNB, ARN, BTC, and ETH. CZ tweeted about it because you could buy a 2nd-hand plane with BNB or ARN (basically using BNB to get a shameless plug). . Then to create a nice little PnD they created 'Crypto Bonus Miles' - frequent flyer points for holding ARN. When BTC dropped under 6k it ruined their PnD so the devs basically said they are delaying the airdrop because it's not fair that BTC ruined the airdrop (when I asked further questions I was banned from their telegram). To add to the craziness I was airdropped this CBM despite not holding ARN during the snapshot and only holding it for a few hours to ride a pump. Any questions on telegram are ignored and they clearly have posters on their accusing you of "FUD" and "you're only FUDing to buy back cheaper". Again, all they have had is an updated website and not much esle.INS (now Insolar). #240 on CMC. Their ICO last year promised "Decentralized Ecosystem Directly Connecting Grocery Manufacturers and Consumers". An interesting idea and the team have a proven track record in the grocery industry. A year on and they have zero to show for it. They have re-branded from 'INS world' to 'Insolar'. They have all but abandoned their use case and opted for a generic "we will do everything". When asked about this the admin team stated that there wasn't a blockchain good enough for us so we decided to create our own...a year after the ICO wrapped up. Could you not have researched this before ICO or during the year? Now the telegram is fluff generic responses over and over and they avoid anything serious. Their use cases are a catch all http://bit.ly/2Rhp5Ju, this isn't FUD. These are all facts and just a warning. They still get decent volume on Binance. I assume it's mostly bots because their reddits are empty and their other channels are mostly bots and admin. Be careful out their and don't fall for these projects that hype airdrops or new websites with zero product. Some of these lower caps will pull every trick in the book to try and bleed all the money they can from people and then soft exit out later. If you are from one of these projects start cleaning up your act, stop banning people for asking legitimate questions, and referring to # of github commits as some badge of hour (knowing full well the community doesn't have a clue how to interpret what they are). My apologies if you hold these 3 projects but don't comment if you're just going to blindly defend them just because you fall for the tribalism that exists in crypto and this reddit. Stay safe out there.
Submitted December 27, 2018 at 06:35AM
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