Ok, disclaimer: I bought into Digibyte early, based on the hype. It was unreal, and too unavoidable. The developers and the official coin twitter account posting about Microsoft/Minecraft, retweeting all the minecraft posts, making it sound as if Microsoft itself were going to use DGB. It was set to rise spectacularly. Nothing could stop it. Fast forward some months into my "hodl"ing the coin:
I find out that the developers have consistently lied about its plans. Half the items from its roadmap arent even real. The rest half are just FUD. This is the developer's plans from last year. Not even 1% of that is realized till date. Some of them, on the face of it, are obvious hype tactics and lies.
The developers give ZERO DAMN about the outcome of the coin. They develop embarrassing and incomplete websites (Scroll down to the quotes section). Despite over a dozen people asking them to get their act together, they have not bothered to even respond nor change this ridiculous website design for months now. Which investor would even look into a company which can't be bothered to fix the grammar on their website?
The DiguSign product looks like its built by a 12 year old on MS Paint. Compared to market leaders in the e-sign space, this one absolutely blows donkeys! There are bugs and spelling mistakes everywhere in the product, yet the developer goes on record to inform the coin's "believers" that they expect several million dollars in revenue from DiguSign. What a joke!
DigiByte Gaming website was nothing but a cheap scam. People spent money on the site, didnt get their games. The developers then gave the excuse that they were DDOSd. People are still complaining about not getting their games for weeks. Has anyone ever heard of a website staying DDOSd for about 15 days now? Who the hell would DDOS a website that no one has even heard off? I can understand if a large exchange like Poloniex is DDOSed, but how many people even know about DigiByte Gaming website to DDos it? Another shameful damn lie.
The developers even got its users to participate in a meme contest Which of course, turned into a SCAM. The winner was supposed to be announced already, yet no one has been. People who worked for hours on these memes were never paid. What is even worse is that these memes created for the contest were shared all over twitter by a thousand different bots, without any license or royalty of any kind. What a great way to build hype for a shitcoin, get users to do memes in the name of a fake competition, share the bloody hell out of these memes, and finally scam the winners. Hats off to these "developers".
There is constant FUD being posted everywhere by bots or trolls; Even after the tanking in the past 24 hours, the coin's twitter handle is posting more FUD about Playstation games on DigiByte. Immediately after the Citi debacle, it shared a "Hold to Moon " meme. Absolutely unbelievable. The official twitter handle of Digibyte is completely off the hook, retweeting every single "HODL $DGB and MOON" meme. For a comparison, the official Ethereum handle has posted merely a dozen times since April, while this shitcoin's handle has retweets a dozen hype/fud spreading "Lambo and Moon" posts every single day.
Now, about how these scammers developers and those associated with this shitcoin make money:
By putting out games for cheap on the Digibyte gaming platform, they target kids who are into gaming and who are not really well versed with the realities and risks of alt coins. When kids actually buy into DGB, they get bombarded with memes and news stories about how DGB is the second coming of bitcoin. The developers strategy seems to be to build momentum, and get the kids to buy more DGB so that they can become millionaires in a year's time. "Buy now or forget your Lambo".
Kids who have invested into the coin, get lessons on how to HODL. All the kids who tried out DigiByte gaming by simply following the hype train were force fed fake expectations that they were going to get rich while HODLing the coin.
9/10 posts on r/DigiByte are cringeworthy shitposts about Memes and lambos. Everyone over there thinks they are getting rich holding on to these worthless coins. These shitposts are never ever removed, infact the mods over there arent even active. Wonder why? Because they are all part of the scam to get the average kid to HODL the coin, while they build fake hype around the coin, pump its value by a series of fake and misrepresenting tweets/news and then dump out at the top, and when dumping out they still get the kiddies to HODL. "Dump now and forget about your lambos. Stay strong and we moon by December".
Once the developers/mods have dumped and made their profits, they buy in again at a low price, build fake hype again, get the price up and then dump again. Rinse and repeat, and all the while the kiddie investor thinks they will make millionaires.
After the CitiBank fiasco, the developer has already on record saying "We made a lot of connections with Microsoft employees, with government officials. Meetings are schedules. Blah Blah Blah!!! "
Spreading pure speculation, and pouring fuel over the hype train that is already in flames. There is more fake news from the DGB camp that the winners were not disclosed yesterday, they were just some participatory awards and the real winners will be announced next month. More lies. The engines for the next hype/pump train have already been set in motion. I think I am missing a few more obvious scam tactics adopted by this scamcoin. I dont know, there are just too many of them to remember and jot down. I hope they can be taken to task or even courts. At the very least, people who think of buying into this scam need to know about these tactics before putting a penny into this worthless coin.
Thanks !
. from CryptoCurrency
The Digibyte team has never said that you would become rich by buying the currency. They expect to work on Digibyte still in ten years by which time the value could be around $1. They have purposefully kept quite and avoided hype. Any hype created is not by the developmental team. Please don't blame anything on them. They are working hard to make Digibyte a great currency. They even got it to the Citi bank contest finals! That is a great achievement. I know you might feel sad if you lost money, but that does not make the currency a scam. Don't invest in Digibyte for short term profit.
only 1$ in 2027? That is very very long term :) I have 13k dgb but at this time I will have lost the key to my wallet to make any profit.
Yes people in the cryptoworld tend to be impatient when it comes to investing. But you invest in anything else, you can expect a 2x development in 10 years for your investment, for example the stock market. Not 20x or something. In cryptocurrency that however is possible.
You are right, I believe in dgb I will hold till +1$
Interesting... will be seeing what will happen :)
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