Topic: [ANN][NIM] - Nimiq - The Browser Based Blockchain - page 64. (Read 131236 times)

nimiqshitcoin I love what your doing here, keep on doing God's work to call out this scam. Hopefully we can stop further innocents putting their money in to this failed project.

The project is a continuous shitshow scam. The team is being sued by Robin Linus, who is still the President of the Foundation. They initially claimed that they removed "removed" Robin from power due to his Cannabis Drug Abuse, but in reality they took control over power and the ICO money. Later on, we learned that they were always lying about Robin's research, and we uncover that Robin Linus became a severe cannabis drug abuser. In one year, they wasted about 5 million USD. From 12.8 USD ICO, now they own only 7-8 million USD. The burning rate is about $250,000 a month. The wages of their great developers who didn't push not even 20 commints last month is $200,000 a year without additional bonuses, travel expenses, chef, food & beverages. Most of the community left, most of the developers left and closed their apps (nimipet, philpool, nimbus, beepool, nimigames). The project is a scam and a continuous shitshow. They confirmed that they use trading bots wasting ico money to keep the price afloat buying coins from the market. The entire project is a SHITCOIN and a continuous SHITSHOW

Marvin, are you stupid? 9.9 - 1.1 million dollar villa means 8.8 million USD. Now their 680 BTC + 6500 ETH is worth 8.2 million usd. Taking, in consideration $250,000 burning rate for january, it means that now they have only 7.9 million available. Also, I have seen that they round up all the numbers. They also have only 6,400 ETH available and not 6,500 ETH available as they have been lying in the AMA to make the number a little bit bigger than in reality. So, I can bet many of the numbers were increased. Robin was saying that they have about 7 million usd. It looks that Robin Linus, the cannabis drug addict was right that they have only 7 million usd left.

From 12.9 Mio USD to 7 in a year and a couple of months means -46% since the ICO investment.

How is that a surprise for you? This was already mentioned in the AmA that they have 6500 ETH (1 Mio USD at that time). They also have 680 BTC (2.7 Mio USD) and 5.1 Mio. USD in Fiat.
I don't think they are required to pay devs in ETH, they can also pay in BTC, USD or NIM, so they don't need to buy ETH to pay devs... In fact, given the low amount of transactions on the ETH wallet, I bet they don't normally pay team members with ETH.
Also it was probably a very good idea to not have many ETH anymore, the price of ETH is now half of what it was during the ICO, so they saved a lot of money by selling their ETH to BTC and USD.


All major Bitcoin mining pools are closed source. The crypto currency mining industry usually is only interested in maximizing their profits, they don't share the ideology of crypto currencies and open-source...


12.9 Mio. USD (number from robin.nimiq see above) to 9.9 Mio. USD is not exactly reduced by half. In fact it is less than 1/4th used...

Indeed. Both pools show that selfishness attitudes. Sushi pool is manipulating the community to be in their favor. Have you ever seen closed source mining pools before? Nope. What a shitcoin with two pools closed source and then they fight each other that both of them stole source code each other. GPU mining sucks. The project went to the trash history of failed icos. They are fighting for stealing a closed source code when everything must be open source. This project is not only a trash coin, but it is a fucking bad joke. Developers left, they scammed ico investors for 12 millions of dollars, pools are scamming each other, gpu mining, people are mining for free, the team manipulates the price buying coins to keep the price afloat.

In a year and a half, half of the ico money went to dust. Nothing great was created. Nimiq will go definitely go to the trash history of icos. I am thankful I sold all my bag and I am done with the shitshow.

Haha even the mining pools are scams.

good finding andrew, i continue your work









































They are trying all their best to hide all this from the public. They are shady scumbags scamming ICO investors and hiding their dirt on private messages. The project is a SCAM and was setup as a SCAM!!!!

Skypool stole Sushipool code for GPU    

hahaha. in 3 months they need to buy new eth to pay developers. burning rate $250,000 a month. after 3 months all eth is gone. hihihi project is doomed and doomsday is near 

Heh. They will run out of ETH soon, and then if they want to keep paying their developers in ETH they will have to buy on the market.

whaat, whaaat !! you joking? the team has only $800,000 in eth from $12.9 million ico money. if this is not a scam, then what it is

I already deducted the 1.1 Mio USD real estate from the total 9.9 Mio USD, but then it still is a 8.8 Mio USD (or after rounding 9 Mio USD), not less than 8 Mio USD...

It's easy to find their ETH address because of the nature of ETH.
- If you check their token sale contract, you can read from the contract and find the 'ethFundDeposit' address '0xefa351d189c367d109859afdf6f3d17eeb0825a5', which is a multi-signature wallet
- At the time of the transparency report (end of july 2018) '0xefa351d189c367d109859afdf6f3d17eeb0825a5' had a balance slightly above 10k ETH. This is near the claimed amount of 9.5k ETH mentioned in the transparency report.
- On Aug 27, '0xefa351d189c367d109859afdf6f3d17eeb0825a5' transferred 5.4k ETH to another multi-signature wallet at '0x847c590d780913b394290295a26ea172e12ffbf1', through transaction '0xa1a227497c108f6e8784c7c080789a9d6c45d29cfa4166c10058baab5c683250'. There was a discussion around this transfer at that time and the team confirmed it to be an internal transaction (and not as rumored, a payment for Binance)
- At the time of the AmA (Jan 11) '0xefa351d189c367d109859afdf6f3d17eeb0825a5' had a balance of 1k ETH and '0x847c590d780913b394290295a26ea172e12ffbf1' had a balance of 5.4k ETH, so a total of 6.4k ETH. This is also near the claimed amount of 6.5k ETH mentioned during the AmA.

I already did these checks when I first saw their claims and I bet others did as well. Everyone can verify all my findings easily through etherscan.
Of course the fact that they were not lying about their ETH funds doesn't say anything about BTC/Fiat/RealEstate part of their funds, but at least proofs parts of the transparency report and AmA statement to be valid.

As mentioned before, I think the team should definitely improve on communication, transparency and marketing. It shouldn't be necessary for me to get these numbers and addresses from the blockchain. But, on the other hand, most other ICOs don't even do such transparency reports, so this is definitely better than many others...

hehe, the caravan is leaking $250,000 per month actually. Happy new year to all nim investors !

no no, totally false. 9 million with a 1.1 million dollar villa. so, now they have less than 8 million usd. do the math ok? also they never gave proofs if they have these funds or not. they never published btc and eth addresses. we don't believe scammers again. no proof, no argument. transparency report is dogshit like nimiq. i can post also on medium that i am billionaire. with no proof i am broke.

Main problem is they do not have business people in the team, just shit coders. Their only business is scamming innocent investors and money laundering. One day they will get their just desserts.

Did you check the latest AMA https://www.reddit.com/r/Nimiq/comments/aeld86/team_nimiq_ama/ and the financial transparency report mid 2018 https://medium.com/nimiq-network/transparency-report-74d4d89933fe ?
The numbers presented to the public are consistent and they still should have more than 9 Mio. USD worth of assets (even though assets lost value due to bear market). If they had just left the investors funds (60k ETH), they would have less than 9 Mio USD now, so I don't think we can complain about how they used the funds (they most likely could have done better, but that's not the point). Also it seems that they run as a non-profit foundation in Switzerland ("Nimiq Stiftung", registered in Zug), so any kind of money wasting would probably cause punishment through Swiss authorities.

I think the team should definitely improve on communication, transparency and marketing. The former two mostly to reduce the FUD, marketing to boost the price. If the backing foundation still has more 9 Mio. USD of assets, it's complete nonsense that the market cap of NIM is less than that very same amount.

yes yes. Robin Linus (founder of nimiq and cannabis addict ) posted on telegram that the current team is performing a fraudulent scam to deceiving new investors. they "work" on nimiq to launder ICO money from investors. project really bad and hijacked into a scam.

 The team spent investors ' money in vain and now the project turned out to be fraudulent, deceived many people who believed in it. I hope that the perpetrators will be punished.

Thanks for your contribution. I guess I just had slightly different data points (because, as you know, prices in crypto fluctuate a lot).
My message (that NIM is more profitable to mine with 1080ti than ETH) is still valid with your numbers (0.004993 ETH = 0.59 USD < 0.87 USD), so thanks for confirming.

Somebody on Reddit who was as well banned most of the time, posted an interesting comment on the reddit topic. Check this out



Now, it is clearly that they started to buy cheap coins from the market to keep the price afloat, making the scam going on further to scam new buyers.