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Topic: EHEREUM SCAM EXPOSED: Garage In The Woods Operation - page 3. (Read 13591 times)

hero member
Activity: 1150
Merit: 502
Come check out how polo treats their users https://bitcointalksearch.org/topic/m.13842684




These arrogant bitches have over 50K btc in a cold wallet:



They earn over 40 btc daily from user fee and dont even bother to spend 15K usd on better hardware which is to improve the performance and speed in the place! At the time of bots entendama and high volume inflow their imbecilic exchange becomes retarded as fuck. These suckers have to be closed.
hero member
Activity: 714
Merit: 500
1. IPO Coin ****ALARM ALARM ALARM --> ALL IPO COINS ARE SCAMS. NO EXCEPTION**

You saying "SCAM," but I'm not sure it means the same thing to you as it does to me. The danger with IPO coins, in my opinion, is that the devs just take the money from the presale and run. That constitutes a scam. I don't think you can say it's a scam when tokens have been issued, wallets released, and applications built on top of it. I think at that point you've pretty well gotten what you bought and any further return just comes down to the merits of the coin.

Anyway, "avoid ICOs" is a great heuristic, but it's not proof positive of a scam. I personally feel that the period of danger involved in ICOs has long passed.

2. Unlimited supply. Ethereum Scam Coin doesn't have max cap on coins like the only 2 legitimate cryptocurrencies Bitcoin & Litecoin. Ethereum is, in this regard, the same as dogecoin.

Not as undeniable as you assert. There may be a cap, but then again there may not be. Most of what I've heard indicates that there will either be no or very low inflation when the switch is made to proof of stake. At present, it has lower inflation than Bitcoin did in its first few years.

And to be honest, I don't think an absolute hard cap is necessary for a coin to have value. We know Ethereum's rate of inflation will approach zero as time goes on, if it's not set to zero outright at the switch to POS. If the rate of coin loss and rate of economic growth combined outpace the rate of inflation, you get net deflation.

3. The main exchange where Ethereum Scam Coin is traded at is Poloniex, an exchange operating from a shed in the middle of the woods --> LOL

You've repeated this a lot, but I thought this had been addressed: there's a good chance that the address is simply the address where legal notices are to be sent.

That said, I don't trust exchanges in general. I've been around since 2011, and this rule has served me well. I never keep anything of value on exchanges and so have lost nothing when an exchange has gone under. I think most people should do the same.

4. It has been proven that Ethereum Scam Coin volume is 95% fake and 5% of it is from noobs who believe it will overtake Bitcoin.

Can you link me to your proof?

5. Ethereum has no liquidity. Try selling $10k worth of Ethereum. Coin's value will collapse immediately. LOL.

Sorry, I don't see how this point relates to whether Ethereum is a scam or not. Low liquidity in a new cryptocurrency that people are still trying to get their heads around would hardly be surprising, and it doesn't speak at all to Ethereum's fundamentals.

And at any rate, I've seen sell orders much bigger than that get gobbled up. Fake volume, as you asserted earlier? Maybe. I'll be interested in seeing what kind of proof you come up with. This point hinges entirely on your previous point.
hero member
Activity: 924
Merit: 1000
I AM
May help if it is spelt correctly in the thread title,

Also Bittrex has $300k Volume

I thought it was odd that 1ex.trade didnt add it,

They Vet all new coins as part of there KYC and also as they are having banks attached cant have illegal scam coins

Eth with all it's volume wasnt added..... hmmmm
legendary
Activity: 2968
Merit: 1198
3. The main exchange where Ethereum Scam Coin is traded at is Poloniex, an exchange operating from a shed in the middle of the woods --> LOL

This is already debunked. The address cited here is a corporate registration service (apparently running out of the same building as a law office -- see picture below) located in what appears to be a commercial neighborhood. That has nothing to do with where the exchange is operating.

https://www.49dollarmontanaregisteredagent.com

hero member
Activity: 717
Merit: 501
Reminder that Ethereum is a scam coin.

I really don't think it is. It definitely works, definitely brings something new to the table, and is definitely trading.

Some facts about scam coin Ethereum. The following facts are undeniable. Because of this fact, Ethereum is automatically a worthless scam coin that is enjoying its 15 minutes of fame. Nothing more. But it will certainly become a lot less.

1. IPO Coin ****ALARM ALARM ALARM --> ALL IPO COINS ARE SCAMS. NO EXCEPTION**

2. Unlimited supply. Ethereum Scam Coin doesn't have max cap on coins like the only 2 legitimate cryptocurrencies Bitcoin & Litecoin. Ethereum is, in this regard, the same as dogecoin.

3. The main exchange where Ethereum Scam Coin is traded at is Poloniex, an exchange operating from a shed in the middle of the woods --> LOL

4. It has been proven that Ethereum Scam Coin volume is 95% fake and 5% of it is from noobs who believe it will overtake Bitcoin.

5. Ethereum has no liquidity. Try selling $10k worth of Ethereum. Coin's value will collapse immediately. LOL.
hero member
Activity: 714
Merit: 500
Reminder that Ethereum is a scam coin.

I really don't think it is. It definitely works, definitely brings something new to the table, and is definitely trading.
hero member
Activity: 717
Merit: 501
Reminder that Ethereum is a scam coin.
sr. member
Activity: 420
Merit: 262
Does the pump of Ethereum just finish and the hot money is moving to the Moneoro? I think it is long over due.

Ostensibly Ethereum insiders held a lot of ETH and BTC which they could use to sell it to themselves over and over again to drive up the fake price on the exchanges. The price was not likely driven by very much hot money. The only requirement was that the true buyers (not the insiders) exceed the sellers so that the insiders could be net sellers.

Once there are more sellers than buyers, then the insiders can't continue the manipulation thus the price collapses. But if the selling subsides, the insiders can start pumping it again. But it depends on whether any buyers will be motivated to buy. It is a rollercoaster//yoyo game that extracts money from the speculators. Everyone is a net loser over time, except the bandit insiders who fleece the community.

Monero in theory doesn't have this centralization of the float and thus can't in theory be P&D like that. So it might be difficult to light the speculative fever necessary to get such a dramatic price rise. But realize that not that much hot money was involved in the recent ETH P&D. Only Poloniex and Kraken know for sure. Perhaps only a few $millions or much less  Huh
hero member
Activity: 717
Merit: 501
I see ~93% of the volume is on Poloniex and Kraken:

http://coinmarketcap.com/currencies/ethereum/#markets

Does anyone know if these exchanges enforce strict KYC and keep records of all trades so that authorities will be able to determine who was selling to whom? So an investigation could determine if the insiders were buying from themselves to manipulate the price?

Afaik, this would be insider trading and should get them jail time (at least afaik according to SEC regulations).

The fools who support these scams by buying the coins and promoting them, are giving the government every reason to regulate alt-coins. You are polluting  the well from which we all drink.

Poloniex is an exchange operating from a shed in the woods.

Kraken has been having problems with withdrawals for past 2 months.

The other 7% is from even shadier exchanges.

96% of Ether volume is FAKE. The other 4% is real. It comes from morons who buy into these scams. But that 4% is enough dough for the Ether/Poloniex scammers to cash out & buy legitimate Bitcoins and Litecoins with in anticipation of the next HUGE CRYPTO BUBBLE (remember, remember, july 2016 is the halving of bitcoin!)
sr. member
Activity: 420
Merit: 262
I see ~93% of the volume is on Poloniex and Kraken:

http://coinmarketcap.com/currencies/ethereum/#markets

Does anyone know if these exchanges enforce strict KYC and keep records of all trades so that authorities will be able to determine who was selling to whom? So an investigation could determine if the insiders were buying from themselves to manipulate the price?

Afaik, this would be insider trading and should get them jail time (at least afaik according to SEC regulations).

The fools who support these scams by buying the coins and promoting them, are giving the government every reason to regulate alt-coins. You are polluting  the well from which we all drink.
legendary
Activity: 2968
Merit: 1198
How many cryptocurrencies have meetups where Nick Szabo is the keynote speaker?

That's right, none, only Ethereum. 

and at least one other one

https://www.youtube.com/watch?v=cDO09EVFSmg
hero member
Activity: 494
Merit: 500
Meanwhile the people sitting in that cabin are watching the transaction fees roll in and trying to figure out which castle they should buy.

i guess we all win ;-)
full member
Activity: 140
Merit: 100
Meanwhile the people sitting in that cabin are watching the transaction fees roll in and trying to figure out which castle they should buy.
hero member
Activity: 494
Merit: 500
checked my eth wallet this morning and converted to USD....

full member
Activity: 164
Merit: 100
Eth will soon crash (pretty freaking obvious pump and dump) and everyone will buy back into btc increasing the price just as ltc did during it's last big pump and dump.  C'mon... one exchange with almost all the volume (and now we find out it might be in some kid's basement)...  Lips sealed

yeah I retract my upthread doubts about the relevancy of the exchange. I said there is no proof. Yet is is very suspicious if it is true that all volume is going through an exchange that is on a server that is not even colocated on a Host, thus no chance it might be audited by a third party. That could be for security reasons, but it could also be for nefarious reasons.

However is it proven where the server is? Is it proven all volume going through that server?

The server is almost certainly not there. The address matches a service providing a legal address for the corporation.

https://www.49dollarmontanaregisteredagent.com

Also, if you scroll out on the map a bit, it is clear that is a commercial neighborhood.

 

Houses in commercial neighborhoods are horrible! JK - good point.  I am less worried about the legitimacy of Poloniex and more concerned about the volume that went through that particular exchange. I would be surprised if this is another Gox.  I would NOT be surprised if this was similar to the LTC pump and dump this past year. 
legendary
Activity: 2968
Merit: 1198
Eth will soon crash (pretty freaking obvious pump and dump) and everyone will buy back into btc increasing the price just as ltc did during it's last big pump and dump.  C'mon... one exchange with almost all the volume (and now we find out it might be in some kid's basement)...  Lips sealed

yeah I retract my upthread doubts about the relevancy of the exchange. I said there is no proof. Yet is is very suspicious if it is true that all volume is going through an exchange that is on a server that is not even colocated on a Host, thus no chance it might be audited by a third party. That could be for security reasons, but it could also be for nefarious reasons.

However is it proven where the server is? Is it proven all volume going through that server?

The server is almost certainly not there. The address matches a service providing a legal address for the corporation.

https://www.49dollarmontanaregisteredagent.com

Also, if you scroll out on the map a bit, it is clear that is a commercial neighborhood.

 
sr. member
Activity: 420
Merit: 262
Eth will soon crash (pretty freaking obvious pump and dump) and everyone will buy back into btc increasing the price just as ltc did during it's last big pump and dump.  C'mon... one exchange with almost all the volume (and now we find out it might be in some kid's basement)...  Lips sealed

yeah I retract my upthread doubts about the relevancy of the exchange. I said there is no proof. Yet is is very suspicious if it is true that all volume is going through an exchange that is on a server that is not even colocated on a Host, thus no chance it might be audited by a third party. That could be for security reasons, but it could also be for nefarious reasons.

However is it proven where the server is? Is it proven all volume going through that server?
full member
Activity: 164
Merit: 100
Eth will soon crash (pretty freaking obvious pump and dump) and everyone will buy back into btc increasing the price just as ltc did during it's last big pump and dump.  C'mon... one exchange with almost all the volume (and now we find out it might be in some kid's basement)...  Lips sealed
hero member
Activity: 717
Merit: 501
Its ironic how Polo and Kraken are *crushing* every other crypto exchange in volume this week on the back of BTC/ETH pairs.

https://coinmarketcap.com/exchanges/volume/24-hour/

(this obviously excludes a lot of Chinese trading where they play by a different set of rules that is hard to compare directly.)

And you are a noob who believes that volume is real. LOL
full member
Activity: 140
Merit: 100
Its ironic how Polo and Kraken are *crushing* every other crypto exchange in volume this week on the back of BTC/ETH pairs.

https://coinmarketcap.com/exchanges/volume/24-hour/

(this obviously excludes a lot of Chinese trading where they play by a different set of rules that is hard to compare directly.)
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