Topic: Ethbits possible scam (Read 1670 times)

Scam?? 

https://bitcointalksearch.org/topic/m.19131629

Hmm this is quite an eye opening situation to many investors and promoters out there. I dont know much about this ICO but I suggest everyone to take note of things like these before investing.

unfortunately some people are still promoting them,they want to continue with their so called lots of projects,this ethbits investors should look at scam sections,because the thread is moderated and they want full control on what are  going to show in their threads it's right that we give them red tag.

Just reading the WP revealed they're quite clueless, it's full of general empty words, almost no technical details

I agree this project has many red flags. First of all it's like they don't bother at all with the name of the token, and the platforms; seriously? ETHBits, and iTrade?

Also spoke to a team representative, seems like they don't know what they're doing. Proposing a social trading platform to be completed by late 2018 with no MVP in sight, and no way to explain what the social trading site is other than it is their own exchange.

They also seem to have no consideration for feedback from experts or the community. Staying far away.

This is complete nonsense. If they implement bugs whilst developing coins, and said bugs get exploited, in no way does that affect any other cryptocurrency.

There is no such thing as 100% secure. This is either being developed by amateurs or by scam artists.

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This has too many red flags. I've left a negative rating and suggest that others do the same (@Gleb).

Used to be a participants in their signature campaign and even agree that they create a moderated thread but after seeing people posting about the immaturity of the devs of not addressing those legit questions I left and did not bother that I have been a participant for two weeks .

Lets see how he will answer to this questions

https://bitcointalksearch.org/topic/m.18677484

Yep, I remember Black Arrow employed a script to automatically delete posts of users posting on their venerable thread sounding alarms. Alex Sovu was exposed from day one and folks still sent that fucker millions.

If you had a screenshot of this, I'd tag them right away. It seems that the people behind the projects are either immature kids or just outright idiots/liars. "Won't get hacked ever".

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I'll give it some more thought before proceeding.

The questions and answers were.

1. Me: What are the reasons of why you are making a centralized exchange on blockchain?
    EthBits dev from telegarm: Starting a new exchange is very costly. We need money for it. (I assure you that was the answer!)

2. Me: What will be the guarantee that your exchange cold storage where people traders will put money wont get hacked.
    EthBits dev from telegarm: I (he uses I statement so i think it was one of the major founders) have a lot of security experience so EthBits exchange wont get hacked ever.

3. Me: But you cant guarantee that. Especially on new fresh exchange where not everything is properly programmed.
    EthBits dev from telegarm: Yes, i can't guarantee that. All can be possible.

4. Me: So you are trying to make a centralized exchange like Polo on investors money and there is no reason why you should be developing it on blockchain because the percenatage profit from holding coins will be so small that inverstors won't notice it? Like Vdice making a profit % payment every month to a coin holders and this % is very small to the point where there is no reason of it?
  EthBits dev from telegarm: You look like troll to me ................. banned


I can't give you screenshots of this conversation because deleting of me and my messages on telegram happen very fast i didnt managed to do something.

http://archive.is/V37ZY

my posts keep getting deleted as well - I have added another negs with archive.is link to ethbits user profile.

I've been suspicious of the project ever since I've seen it. I've been inclined to give them a negative rating for a while now. They also employed an unstable blackmailer as their campaign manager.

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I'd like to see more examples of reasonable questions regarding the project being completely censored.

Long story short EthBits is banning and deleting people from telegram and bitcointalk posts for regular questions regarding platform.
I wasnt the only one who got banned from there.

Here the messages that were deleted from their post


I aint got a problem about ico. I got problem that someone deleting my messages without explanations and answers to it.