I am positive that many Hivians are enjoying the upswing in adoption of the digital asset space as a whole. The fact that Bitcoin and Ethereum (to a lesser degree) are now mainstream talking points on financial news channels such as CNBC and Bloomberg certainly gives credibility to the entire crypto revolution. As the value invested grows.... so does the number of low life, opportunistic sleaze balls who want to rip off naïve participants.
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Two of the most well known, and blatant scams were Mirror Trade International and the infamous BitConnect
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Now I know I am going to be very unpopular due to this particular subject .... it is my opinion that the project below is a scam .... yet so far I have only ever heard good things about. Stick around and hear me out.
I am going to just show a few of the marketing antics and one or two facts and let you decide for yourselves ... {click play}
How about ....
The simple fact that there are 'offices', 'groups' and 'communities' getting established in different countries just smacks of 'Bitconnect' and 'MTI' ... the sole purpose is to recruit, recruit, recruit. I am assuming that one earns tokens by growing a network of new investors.
Why did I not find out how it works? Well, that has been challenging ....
It was up a while ago and I read their roadmap .... sounds very much like the Democrat Parties running ticket. Emotional verbiage for which they will never be held accountable once in office.
Fantastic altruistic motives to 'better life' for all.... equal opportunity everywhere .... ad nauseam.
So I decided to check out their Medium blog .... aloha, a surprise !!!
Alright, so this is all circumstantial so lets discuss the tokenomics at a high level !!
Circulating Token Supply is 642 Trillion and some change !!!!
Let us put that in perspective .... here is a snip of todays trading price ....
So despite being down 23% on the day, and having zero deliverables to date, listed on no major exchange; the project actually measures in the Top 50 marketcap coins
There was traded volume of $46 million last 24 hours. Who the hell can these desperate, greedy, stupid, ignorant people be who part with their hard earned money so easily.
Even without me reading the whitepaper or checking Github commits etc. do you think there is reasonable doubt about the validity of this project?? Comments below would be appreciated.
UPDATE UPDATE UPDATE
Before hitting 'publish' I thought I would try the website once more .... and lo and behold it was online. So I checked their GITHUB for developer activity. Brilliant, very hardworking team ... see below!!
And yes, the penny has finally dropped ! Safemoon is a decentralised finance protocol !! Now why did I not think of that?
Nothings changed... this is still not to my mind a viable investment proposition. Be your own judge
