The Rug Doctor - Episode #4
$More Token - Not a rug pull yet....
Welcome back to The Rug Doctor. It's my new series where I look at crypto and NFT rug pulls in an effort to save someone from falling for a scam. I'm not trying to put a negative light on cryptocurrency, decentralized finance, or NFTs. I'm simply highlighting the latest rug pulls and scams in hopes to point out some of the red flags to look out for when considering investing in one of these projects. Make sure to check out other episodes in my master index - "Learn Crypto Stuff".
I figured it had been enough time since the last episode, and I had the pleasure of finding out about this project... So that's why we're here. I am not promoting this project, in fact, I'm doing the opposite. Shit like this really doesn't work very well in a bear market and I just want to use this as an example of what a shitty project looks like. It's technically not a scam yet, and technically not a rug pull yet. I'd be shocked if it didn't end of being one of those though. If I'm wrong, well... Fuck me I guess lol.
What really got my attention was the fact that $More token is created by one of the biggest promoters of the infamous BitConnect! As stated in his Twitter profile, he's the "HNIC" of $More Token. That's right, I'm talking about Trevon James. Mr. "You didn't lose all your money... well, technically you didn't lose all your money" himself. This guy was one of the top promoters of BitConnect, which went down in history as one of the biggest scams in crypto history.
So with all that being said, I saw him tweet and followed a trail of tweets to this project. It's called $More Token, and it looks like a complete scam. Red flag number one... The first sentence on the website is "Since the only thing people really care about is the price of their asset going up, we've created a token that easily does this." If you ever see any project talking about the price of their token going up as the only selling point... Run! Take your money and run far, far away from that project.
It's marketed as "Bitcoin's worst nightmare", and boy is it a nightmare. This whole website looks like a toddler threw it together using Microsoft Paint. Ok I'll bit, please explain to me how this shit coin is Bitcoin's worst nightmare. Their explanation is that Bitcoin does only 2 things. Send and receive. This is clearly false, but ok fair enough. Bitcoin is simple. According to Trevon, the only 2 things that give Bitcoin value are its capped supply and its cult following. Pure genius.
Clearly this guy is trolling with this whole thing. Like, he can't seriously believe that his simple instant-spin up shit coin on Ethereum is going to compete with Bitcoin. He's leaning into the meme. The crypto bro culture. He knows people will buy it for the memes if he uses a bunch of buzz words and talks about pumping the price.
Ok, so I know you're just dying for the tokenomics of this shit coin... There's 8 trillion tokens with no inflation and a capped supply. The other 2 points in the tokenomics are literally "Cult" and "Team". How much more obvious can it get that you should not buy these tokens when they become available. Buy this token. This token is love. This token is life. This token is whatever you love the most. Very culty. Love it.
The Team section is mind blowing. The team is just him. He even mentions that he was involved with BitConnect and is "fully doxed"... He straight up says he's building a cult for the token. So if you're into pointless cults... This is right up your alley. The guy that made empty promises and sold you on a scam promises he won't do it again with this project right on the website! Remember, you can't lie on the internet.
The last thing that really intrigued me was the fact that the FAQ section is comedic gold... "Crypto prices can go really high."
Apparently this shitcoin even had a "hard fork", meaning he spun up a new version with a 21,000,001 supply instead of 8 trillion. Lol. Very high tech. Very cool.
Don't buy this guy's newest shit coin. Rise above.
See ya next time!
Thanks for reading! Much love.
Wanna learn about all kinds of things you can do with the crypto you earn blogging on Hive? Check out my index - Learn Crypto Stuff for some fun educational crypto stuff.
Posted Using LeoFinance Beta
I want to make a $RUG TOKEN and make it a hedge against RUG's :p
Let's do it
Posted using LeoFinance Mobile
Couls be awesome! But properly a shitty name to choose :p
Trevon James 🤦.
He could be using his position of influence to do some serious good in the space.
Instead he continues with this garbage...
Sigh.
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Right! This is exactly what I said. This is his second shit coin in the past couple years.
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