Topic: BitIndia Exchange (Read 4742 times)

i got scammed, and they swapped to their stupid Exchange token... i lost 300$ there...
Fuck OFf You Mc Affee, never trust this guy, ever ever,

Hope he'll sty in hell later.
 

The old address of bitindia is not available anymore. You are getting redirected to https://blockonix.com/home
There is no trading volume.

Be very aware of an potential Scam here! It all seems very unserious.

I am extremely apprehensive about bitindia now that after the voting for crypto currencies to be listed they are asking for 5 BTC to be listed on an exchange that has not proven itself, starting to think it is a quick money grab, before the potential crypto currency ban for some businesses.

Be very cautious of this alleged exchange.

Potential scam here.

Hi guys, any news about these exchange? I've heard they will start on the end of April, can please confirm it or not?

 
We hope that the exchange will be opened as soon as possible to dispel everyone's worries and to speak in action

It's a scam. They have probably shut down operations and moved out.
Sorry for your loss.

Or any updates at all?

Any update on exchange and listing ?

Yeah exactly. They're turning their backs on all the hype and interest.

Man, i wish the devs would get on here and post and promote their product - we haven't heard any updates in awhile - they are just sitting with a bunch of my ether chilling like wtf
B

I don't think it is a scam either, but the BitIndia team really needs to do more ground work to build trust and understanding in the community. Their whitepaper helps, but any YouTube video they release seems to capture only half a thought. In fact, I learned more about BitIndia from listening to John Mcafee talk for five minutes than in any of BitIndia's own YouTube promotional videos. From the bits I know, it sounds like a very cool and empowering idea for rural India, but the team seems so ragtag...just makes it a difficult buy.

I as well have made contact with the team - very responsive and quick. These guys may be crappy at advertising but it doesn't matter. When they get boots on the ground in India they will have first mover advantage and we will all be sitting back laughing -
If nothing else it will give Indians a new way to purchase bitcoins and give access to many who didn't have it before. Think about Zimbabwe - If they had a platform like this there would be much less manipulation of the price of BTC - Thing is great for end users - the Indians, as well as being great for investors!
GLTA
B 

Hi,
  I don't think this is a scam. We can speculate the potential of this ICO, but definitely not the credibility.
1. John Mcafee is on the team.

His Tweet:
https://twitter.com/officialmcafee/status/929104577772838912

Mcafee talking about BitIndia
https://www.youtube.com/watch?v=qh7bTwCYwFs

Also, I have successfully connected to one of the founders on LinkedIn and he is decently responsive.

John Mcaffe is the partner in Bitnidia which makes bitindia a sure buy.

yup variety is the spice!

haha, zillions of haters and only one believer, don't you just love cryptocurrencies 

i'm invested and i can't wait till this thing rips-
you guys should stop being so stereotypical and look
if macaffe is in then so am i

Not sure if they are a scam or not but I've asked the following questions on the telegram channel but I GOT KICKED OUT for no reason. I didn't say anything offensive. I didn't insult anyone. All I wanted was answers to a few questions before I can make up my mind to invest. Here are the questions again. I urge people to *NOT* invest in bitindia until someone from their team answers the following questions:

1) Referring to following tweets by Vitalik -
https://twitter.com/VitalikButerin/status/922802902019608577
https://twitter.com/VitalikButerin/status/922809246508400645

A "completely" decentralized exchange cannot do fiat. Since bitindia boasts of a decentralized exchange that would connect to fiat, I really want to understand how would that happen. If what Vitalik is saying is true, bitindia is either *not* a completely decentralized exchange or they are not truthful about (or will change their mind later) connecting to fiat.

2) They are trying to hide how much money they have raised so far. They seem to change the contract every few hours to obfuscate the users but the whole point of this system is transparency. Can they publicly share all contract addresses so that folks can audit how much money they have raised so far? I would be more confident throwing in some money if I know others are chipping in too. Seems like a terrible strategy on they behalf to not reveal their number. Their marketing guy should be fired (in my opinion).

3) They are not clear on how much are they trying to actually raise. I've heard numbers as big as 100 million USD. Why are they not publishing their target USD/ETH number on their website? Also, to be honest, I don't understand why they need that kind of money. Considering they are based in a small town in India, their development costs should be very less. Including all other expenses as well, even a figure of 5 million seems like a lot to pull this project off.
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4) Their team looks really unimpressive. None of the founders have any experience on working on any cryptography/cryptocurrency related tech projects before (let's discount the fact that McAfee himself is not gonna contribute jack shit). They just seem to have bitcoin trading/trading systems experience which is not impressive at all. Also, one of the founders seemed to have been a part of another failed ICO (Cove identity). Forget the project, I'm not even sure if they will be able to pull off this ICO (I hope people don't lose a lot of money here).

5) Founders have reserved a 25% equity for themselves. Isn't that number huge? Satoshi Nakamoto kept 1 million of the 21 million BTC (<5%). Keeping 25% of the currency in the hands of a few individuals always raises my eyebrows because these whales, more often than not, try to monopolize the market using their control that they leverage on the currency. Might also hint on the fact that the team might be greedy.

6) The project seems to have terrible marketing. The concept of decentralization ends nation states / borders. Decentralized exchanges are meant to be used worldwide. What do they mean by "Decentralized exchange for the streets of India"? I don't get it. Can only people from India use this exchange? If yes, how are they decentralized then? If not, what's up with fake India based marketing?

Really looking for *genuine* answers to these questions before I put a single ether down.
 

SO MCAFEE IS ENDORSING A SCAM?? BASICLY....

The founders behind this team have a track record of opening companies like pop corns

look at their LinkedIn is enough.. Can't write their profile without spelling mistakes.. I'm not trusting my money with such idiots