GRV Gravity token is a complete rug | Bitcointalksearch.org

slaman29

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Quote from: CrossroadBTC on October 16, 2021, 05:00:13 AM

This token is a rebase token and it's not the first, my past experience about rebase tokens is they can't be trusted, it's more like a scheme of milking out your money every minutes until you are left with nothing, any rebase project I'm off

Spot on. I have no love for rebase tokens. All the ideas seem amazing, all the supply contraction seems logical, but speculators also all predict and then those who know the algo or the oracle source can easily front run, hence the failure of all rebase tokens.

None of the owners/devs actually are serious about the actual implementation, IMO.

passwordnow

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Quote from: Kavelj22 on October 17, 2021, 04:31:07 PM

Quote from: passwordnow on October 16, 2021, 04:35:18 PM

These tracking websites don't care if the project is good or not, as long as they pass to their minimum standards that are being set as requirements for the new projects to be listed, they're going to list it. Now, for the investors, it's our responsibility to check every single detail of the projects that we look at and if they're really good and worth it as an investment. This is the main reason why many stumble upon investing because they don't do a lot of research before joining and investing in projects like this.

Besides what you said, i think we (as users) become more conscious about coinmarketcap listing fake tokens backed by fake projects. In the near past, we could explain this by that CMC has a huge traffic activity so why not sell the listing for anybody who has money as every cryptocurrency ever created has a standard goal to be listed in CMC. By now, CMC was sold to Binance exchange and the bad habit becomes more profitable for Binance and scammers as they can get listed in both biggest cryptocurrency platforms in the net. We all know about the Binance being recently investigated by FBI but i can't find no updates about the case.

I think many are aware of the projects that are being listed on CMC and other listing platforms. It's just that they're paying what's required and people should be aware and be researchful when they invest on such projects. There's no guarantee that because it's on CMC, it's going to be a great project. We've seen a lot of projects that have been delisted not only from these listing platforms but also in many exchanges and so far, there have been a lot of projects that are currently 'untracked' on cmc.

zasad@

legendary

Activity: 1932

Merit: 4602

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I have an article in Russian about this project.
Most people do not want to read FAO because they are too lazy to do so.
https://bitcointalksearch.org/topic/gravitoken-grv-5363218

"there were 100 tokens for 1 dollar, which costs 100 dollars
it became 90.9 tokens at $ 1.1 which is also equal to $ 100
after 83.33 tokens at $ 1.2 = $ 100, etc."

It's just magic, the price goes up and the hodlers don't get rich
If you studied game theory, then this is a game with negative mathematical expectation.

makishart

legendary

Activity: 3108

Merit: 1029

Quote from: jarrjarr on October 16, 2021, 03:09:03 AM

I have invested 100 bucks as an experiment very early I got ~ 600K GRV.

Have you asked the scammer behind this token about what rate that will be used as rebase? i meant like when a token used $1 as a value to be used for rebase and once the token worth $2 and it will be going back again to the $1 but users got $2 tokens.

Quote from: jarrjarr on October 16, 2021, 03:09:03 AM

Currently I have 0.000007753 GRV left due to the rebase which is: about 7.7$.

It seems like that if you didn't know if rebase was eating your money.

Quote from: jarrjarr on October 16, 2021, 03:09:03 AM

So explain it to me how is this not a fcking scam, lie, dirt and just in general a rugpull.

All rebase tokens were scam. This was a garbage mechanism. Gravitoken was not the first. We have some garbage tokens like base token and AMPL.

Quote from: jarrjarr on October 16, 2021, 03:09:03 AM

I see people complaining over and over and over again losing everything on their TG and they are instabanned. Imagine someone who put in 1k or more money into this seeing their investments go to shit. Sad

As far as i know the dev was controlling the rebase rate they must be blamed for that. I guess they were not transparent to community. They were scammers.

Quote from: jarrjarr on October 16, 2021, 03:09:03 AM

I think its just the matter of time the scammers find this post and start giving us their "wisdom" here how is this the greatest token in the universe like MM...

They will ignore this and they will not care about that. people should stop buy this garbage rebase token. The rebase rate can be controlled by the developers. Becareful with any rebase tokens.

terciduk123

sr. member

Activity: 1176

Merit: 252

The price is very crazy, how can it be normal if the price of 1 token reaches millions of USD. Really have to be careful with tokens like this.
The total supply of GRV tokens is indeed very small, only 3,499802 GRV. But people who bought at such a high price seemed to have lost their minds.

jerrison

full member

Activity: 1442

Merit: 106

The grace is not just for anyone else but for Gravity token. I see the way its just skyrocketing in price and not knowing what the point of elasticity is. more than 10,000 percent in less than three months window is just a scary adventure. Loads of people are scared of investing.

Jaered

jr. member

Activity: 840

Merit: 4

I have had bad experiences with rebase tokens. The latest was with a token called Rise Protocol. The team simply gave one flimsy excuse and vanished into thin air. I don't expect them to return. A similar project to this gravitoken is Iron Finance. Though they didn't exit but the token became worthless. I don't know what it is worth now

tippytoes

sr. member

Activity: 1988

Merit: 275

Quote from: o48o on October 16, 2021, 05:31:21 PM

Quote from: makishart on October 15, 2021, 07:17:43 PM

Look at marketcap of this garbage token https://coinmarketcap.com/currencies/gravitoken/markets/ totally non sense marketcap. it has also surpassed the gold. lol what a crap token.

Lol

. But when you control the supply, you can basically name the price. It isn't real and there's no real liquidity. And by liquidity i mean buy pressure. These kind of crappy tokens were a thing way before DeFi, and continue to be a thing as long as people don't look under the hood.

The problem is a lot of newcomers are being deceived by this fake movement, and they will think get a lil bit of it. The price is ridiculous and the numbers are not adding up. I hope people will not fall on this trap. They surely will regret if they buy this token. This should not be listed in those ranking sites as it can mislead people. Just think of valid reason why it will have more than $1M price, and you know what kind of token is this?

Kavelj22

legendary

Activity: 1778

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Quote from: passwordnow on October 16, 2021, 04:35:18 PM

These tracking websites don't care if the project is good or not, as long as they pass to their minimum standards that are being set as requirements for the new projects to be listed, they're going to list it. Now, for the investors, it's our responsibility to check every single detail of the projects that we look at and if they're really good and worth it as an investment. This is the main reason why many stumble upon investing because they don't do a lot of research before joining and investing in projects like this.

Besides what you said, i think we (as users) become more conscious about coinmarketcap listing fake tokens backed by fake projects. In the near past, we could explain this by that CMC has a huge traffic activity so why not sell the listing for anybody who has money as every cryptocurrency ever created has a standard goal to be listed in CMC. By now, CMC was sold to Binance exchange and the bad habit becomes more profitable for Binance and scammers as they can get listed in both biggest cryptocurrency platforms in the net. We all know about the Binance being recently investigated by FBI but i can't find no updates about the case.

Naficopa

hero member

Activity: 2002

Merit: 516

Quote from: jarrjarr on October 15, 2021, 06:19:32 PM

Gravitoken (GRV)
Rebase $994,098 80.7%

https://www.coingecko.com/en/coins/gravitoken

1M$ in minutes now

Regardless everyone who was conned in this at any point might only have 1/10th of his initial investment left.

Good that gecko and cmc dont list this by value otherwise this fcking rug would be number 1.

Cry

I think the most likely one is that some whale got it wrong when entering numbers when buying. He probably put the sign separating the numbers in the wrong place and bought it for a price several thousand percent higher. Unfortunately, such situations do happen. Support of Coingecko will probably fix it soon.

o48o

legendary

Activity: 3038

Merit: 1166

Leading Crypto Sports Betting & Casino Platform

Quote from: makishart on October 15, 2021, 07:17:43 PM

Look at marketcap of this garbage token https://coinmarketcap.com/currencies/gravitoken/markets/ totally non sense marketcap. it has also surpassed the gold. lol what a crap token.

Lol

. But when you control the supply, you can basically name the price. It isn't real and there's no real liquidity. And by liquidity i mean buy pressure. These kind of crappy tokens were a thing way before DeFi, and continue to be a thing as long as people don't look under the hood.

poodle63

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Activity: 2702

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Quote from: jarrjarr on October 15, 2021, 06:19:32 PM

1M$ in minutes now

I have been watching this one since last month, growing from $10 to the 1 million USD was a very strange thing. thousands of BNB pooled for only 1 gravitoken. I smell something shady with this token.

Quote from: jarrjarr on October 15, 2021, 06:19:32 PM

Regardless everyone who was conned in this at any point might only have 1/10th of his initial investment left.

Wow, how is it possible when the price was always increase anytime? is this doing rebase or what?

Quote from: jarrjarr on October 15, 2021, 06:19:32 PM

Good that gecko and cmc dont list this by value otherwise this fcking rug would be number 1.

If gravitoken listed its total supply and this gonna be crazy like when a shitcoin was surpassing bitcoin with its fake pump and value.

passwordnow

hero member

Activity: 3108

Merit: 577

Leading Crypto Sports Betting & Casino Platform

These tracking websites don't care if the project is good or not, as long as they pass to their minimum standards that are being set as requirements for the new projects to be listed, they're going to list it. Now, for the investors, it's our responsibility to check every single detail of the projects that we look at and if they're really good and worth it as an investment. This is the main reason why many stumble upon investing because they don't do a lot of research before joining and investing in projects like this.

CrossroadBTC

member

Activity: 182

Merit: 14

This token is a rebase token and it's not the first, my past experience about rebase tokens is they can't be trusted, it's more like a scheme of milking out your money every minutes until you are left with nothing, any rebase project I'm off

cryptoaddictchie

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Quote from: jarrjarr on October 15, 2021, 06:19:32 PM

Gravitoken (GRV)
Rebase $994,098 80.7%

https://www.coingecko.com/en/coins/gravitoken

1M$ in minutes now

Regardless everyone who was conned in this at any point might only have 1/10th of his initial investment left.

Good that gecko and cmc dont list this by value otherwise this fcking rug would be number 1.

Cry

Sometime we cant anticipate such event to occur. Rugging is one of the worst scenario for investors and traders. Yes nothing can absolutely get away with an instant rug. A developer likely to pull it off when everyone get off guard. As the project get hypes then it will definitely go down as soon as they clicked the bomb. Dont be fooled by such hype when the codes embedded shows a potential rug. It just does mean that they are really gonna do it anyway.

jarrjarr

newbie

Activity: 8

Merit: 0

There you go it's over 1 million $.

Tokens like this work great in depression and bearmarkets. This token started as well in september when everything was bleeding out as hell conning in thousands of investors.

The worst part about it is how they try to convince every newcomers about their fraudlent scheme that its real and true.

Just consider this:

I have invested 100 bucks as an experiment very early I got ~ 600K GRV.

Currently I have 0.000007753 GRV left due to the rebase which is: about 7.7$.

So explain it to me how is this not a fcking scam, lie, dirt and just in general a rugpull.

I see people complaining over and over and over again losing everything on their TG and they are instabanned. Imagine someone who put in 1k or more money into this seeing their investments go to shit. Sad

I think its just the matter of time the scammers find this post and start giving us their "wisdom" here how is this the greatest token in the universe like MM...

gwdf1

full member

Activity: 680

Merit: 103

Quote from: jarrjarr on October 15, 2021, 06:19:32 PM

Gravitoken (GRV)
Rebase $994,098 80.7%

https://www.coingecko.com/en/coins/gravitoken

1M$ in minutes now

Regardless everyone who was conned in this at any point might only have 1/10th of his initial investment left.

Good that gecko and cmc dont list this by value otherwise this fcking rug would be number 1.

Cry

It is a common thing, there are many scams on the crypto market as well as there are many hackers who can steal money from the fair project. Two month ago I invested in YELD. It cost 200$, then it rose to 1000$ several times and then it started decreasing. The thing is that when there arose a layer 2, hacker found a loophole, he generated millions of tokens to himself and eventually, the price became 0.000000001$

makishart

legendary

Activity: 3108

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Quote from: jarrjarr on October 15, 2021, 06:19:32 PM

Regardless everyone who was conned in this at any point might only have 1/10th of his initial investment left.

Are you also loosing your investment in this garbage token? there was only a token already pooled and it seems like that people are getting FOMO due to the pump.

Quote from: jarrjarr on October 15, 2021, 06:19:32 PM

Good that gecko and cmc dont list this by value otherwise this fcking rug would be number 1.

I see that the marketcap was non sense and i was accusing this as a scam token in the past but noobs are still playing in this shit token game.

Look at marketcap of this garbage token https://coinmarketcap.com/currencies/gravitoken/markets/ totally non sense marketcap. it has also surpassed the gold. lol what a crap token.

Kavelj22

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I can't figure out what's really happening with this token? Did someone buy 100k$ worth of token with this huge price? I can't find details by searching the web about it.

From another side, it's not a strange thing that coinmarketcap lists fake tokens backed by fake projects. We have already thousands of cryptocurrencies listed out there since a long time. And as it's easy to search for new listed coins in cmc, you won't find it easy to look for unlisted coins if it's even possible after last design updates.

jarrjarr

newbie

Activity: 8

Merit: 0

Gravitoken (GRV)
Rebase $994,098 80.7%

https://www.coingecko.com/en/coins/gravitoken

1M$ in minutes now

Regardless everyone who was conned in this at any point might only have 1/10th of his initial investment left.

Good that gecko and cmc dont list this by value otherwise this fcking rug would be number 1.

Cry

Topic: GRV Gravity token is a complete rug (Read 151 times)