Pyramid Scam Alert!!! Stay Away!!!! I have taken a good look at this project, and it is surely a pyramid scam. It is in your best interest to grow your community, so you can earn these so called growth rewards. These growth rewards are based on your community score, where score is based on a combination of things like how many coins you have, how many people you have under your community, the age of the coins you have, etc.
The problem here is, there is only so many invitations available, and they are basically produced at a steady rate. This means the supply of invitations will always be limited and will be scarce. Right now, the early adopters of this coin have the majority of the invites, stocked up from the earliest mining days. So they are getting all of the new invitees, while people are in the trading channel trying to sell invites up to 10-30 merit each, which currently translate to $2.65 - $7.50 per invite at 4250 satoshi per merit. Sure, these people claim it is easy to get invited, but to grow your community, it is a mission in it self. You can try to invite people in various ways, but the easiest way would be to invite someone through the discord or telegram. However, there are the same people there, fighting over invitees, spamming their invite link over and over again, like clockwork, some even have bots running, so your chances to get a invite is basically 0.
When you do get a invitee, the chances of that person being a real active miner is low because it was most likely a spammer, trying to make as many fake accounts he or she can. Why do they do this? because of the invite situation. 40% of new accounts eventually mine a invite over time, so people are spamming the discord bot and using posted links to generate new accounts. Many of these accounts are being made in order to farm invites. With invites only being generated at a steady rate and the spam account nonsense, how can anyone new build their community effectively without having to spend $2.65-$7.50 per invite, and without that invite getting wasted on a spammer?
This coin looks like a sh*t show, and stinks of pyramid scam. You basically can get invited for free from someone, but would then have to spend money in order to buy invites to grow your community. However, most of the time your invite will get wasted by a fake/spam account anyways. People say you can verify your invitee, but it is just as easy to log in from another computer and verify using a different username on discord or telegram.
Stay away, there are better projects out there.
The problem here is, there is only so many invitations available, and they are basically produced at a steady rate. This means the supply of invitations will always be limited and will be scarce. Right now, the early adopters of this coin have the majority of the invites, stocked up from the earliest mining days. So they are getting all of the new invitees, while people are in the trading channel trying to sell invites up to 10-30 merit each, which currently translate to $2.65 - $7.50 per invite at 4250 satoshi per merit. Sure, these people claim it is easy to get invited, but to grow your community, it is a mission in it self. You can try to invite people in various ways, but the easiest way would be to invite someone through the discord or telegram. However, there are the same people there, fighting over invitees, spamming their invite link over and over again, like clockwork, some even have bots running, so your chances to get a invite is basically 0.
When you do get a invitee, the chances of that person being a real active miner is low because it was most likely a spammer, trying to make as many fake accounts he or she can. Why do they do this? because of the invite situation. 40% of new accounts eventually mine a invite over time, so people are spamming the discord bot and using posted links to generate new accounts. Many of these accounts are being made in order to farm invites. With invites only being generated at a steady rate and the spam account nonsense, how can anyone new build their community effectively without having to spend $2.65-$7.50 per invite, and without that invite getting wasted on a spammer?
This coin looks like a sh*t show, and stinks of pyramid scam. You basically can get invited for free from someone, but would then have to spend money in order to buy invites to grow your community. However, most of the time your invite will get wasted by a fake/spam account anyways. People say you can verify your invitee, but it is just as easy to log in from another computer and verify using a different username on discord or telegram.
Stay away, there are better projects out there.
If you've been around the project long enough, you'll know that the invite distribution is something the core team has been trying to tackle for a long time. Not to get into all of the details, but the invites were rather poorly early on, the core team worked very hard to try to make the growth reward distribution and invite distribution more fair, and now we have POG2 - where not only the rewards, but the invites are distributed differently- and in a better way. That doesnt change the fact that whales will be whales - but that's true in any project- with Merit we just hope these early adopters/whales use their influence for good and not abuse the system.
Sure there are issues with distribution still (like your point of fake ppl farming the 40% airdrop invites) , but it's a lot better than it was before. Does it mean there are still down sides? YES - does it mean there are still bad humans willing to do bad things - YES. --- What this really shows is that the core team is willing to plan-do-check-adjust around a solution. How many teams out there get so stuck in their idea that they arnt willing to change? I believe we'll prob see a POG3 and POG4 some day- why? because the team is not afraid to fine tune the solution to better serve the community.
All of that being said, the economy of invites being in low supply, I agree- it stinks, and it's not the way it should be (my personal opinion about selling at high prices etc) - but it's also very silly for 20 people to jump on 1 brand new person on discord/telegram. I cant speak for the core team, but I think that's the point of Merit, it should be real, organic growth of our own-personal networks- this way you KNOW the person you're inviting and you have to worry less about "is this someone trying to scam me out of an invite". I dont really post my link in telegram/discord much anymore (unless I see a need) because I am looking for alternative ways to grow - something more REAL. less lazy- less short sighted.
I havnt addressed your pyramid claims, because it's been addressed many times before in this thread, and it seems you're just upset so you're not really looking for an explanation - but for the Merit Proof of Growth to really work, we need real - organic- growth of the network- with real people, that will go a long way. Also, people dont realize but the growth rewards dont increase with the network size - it's tied to the blocks, so right now we're at 13k wallets? I imagine when Merit grows to 200k wallets this entire ecosystem of invites + growth will have less issues... in other words- it's designed to work better the larger it gets (my perspective).
That reply is a lot longer than I thought it would be
