Topic: Just a warning that Sapien Network ICO is a scam. (Read 1106 times)

Obviously this is a Fud because if he is serious and very truthful he will post this in Scam accusations with proofs of what he was claiming here but he does nothing but detractors

Upon checking now yeah the project looks like NOthings pointing towards scamming but there are some issues on their apps though i still don’t vouch for them since i have no business with the team

They have created an app but that looks useless and so many people are aware if that was only a garbage app. I said this based on the fact about how terrible they are dude. Sapian is untrusted platform and so many people know about that.

@OP,
if you think that this project is scam then better to make another thread into the scam accusation board. There you can submit your accusation and have some proofs for that matter. May some DT members can help you.

That's for the information  you really spent lots of time in doing such a good research, But it seems there are some dude who organized an airdrop which turned out to be a scam,  but will do my own research on this can't conclude yet if it's a scam

You might assist in sharing your list with us, the way you view the genuinely of an ICO might be different from mine, the most common way we usually use before is the whitepaper which has already been corrupted, and the most reliable ones we would have invest in, which are the ones coming through IEO are quite very difficult to participate in because of the slots that gets filled within a twinkle of an eyes, so the best way now is also by reviews, especially on already existing ICOs, anyway, I know we still have some reliable projects, that is why I have decided to strictly be participating too in ICOs being promoted by trusted and reliable bounty managers.

If you could get these information easily after they have already finished ICO and dupe whoever they must have succeeded in duping, how come you didn’t get such info and post it before investors and bounty hunters participated in it.

At least they didn’t just adjust their whitepaper now, their whitepaper must have been the same with the one they used during ICO, you now see that we are the problem of ourselves in falling into these scam ICOS, if everyone can do this research like you did before ICO, we will not end up promoting the project or investing in it. So now that you have made the research for us, new investors should be careful with them.

They might just be camouflaging with the app, I stopped monitoring them ever since I stopped participating in their ICO when it came out, I never even followed it true, I knew something was not right about them, I only did one or 2 weeks of their bounty campaign and dropped the projects for a more reliable ones, how can they function well when they don’t have a project team that can be verified, they are just using that application to buy themselves times to erase their fraudulent activities, they must have even bourn the money got finished by now. People just still need to be more careful with them.

Adding to the list so many programs that are scam and also there is no clarity on their project. avoid investing from ico or tokens that are not clear from us losing big because they have no price development at all

I don't know anything about sapien network but i will comment on this:

It is the %99 of the ico's I mean yes it is scamming but it is so common. First, i read this, i said so what is the issue.

from the OP's point of view the evidence that the project was a scam was indeed very strong, but maybe the OP experienced fear if it had to post or report the incident to the moderator about the situation. however, if the OP has strong evidence it would be better if the OP could report it officially to the moderator.

They have an app in beta which give us an idea of what they want to do. A kind of linkedin and facebook. They don't seem to be a scam ICO. But i can't guarantee it. The app for the moment is very limited and people don't really post real information on it. Only the profiles information can be modified and comments on another profile. For the moment, they don't control the informations posted on the app. But maybe they are going to do it if  they want it to be legitimate.

Regarding 4
This guy has its profile indication to Sapien.
https://www.linkedin.com/in/aureliennicolas/

They have app, which works but the purpose of the app is not clear and not sure whether it will be successful. They constantly do promotion on vyper, without paying so far. Telegram group does not have any good discussions. This what i saw.

Still some sapien on my wallets I would say I cant still consider them as a scam but still that's the way on where it was going. They do have the platform but still not really fully developed and token price is dead.
Good thing the developers are still making updates but I don't see anything special with this project rather than a copy of steemit but wont really stood up a chance.

The project Sapien successfully conducted ICO, collected the investment amount of more than $ 10 million, but I also notice the fact that this project does not develop. As a participant, I do not receive any news from this project. And the coins of the project depreciated and became just rubbish in my wallet! 

I wouldn't go so far as to call it a scam, but I do think it was just developed more as a "proof of concept" than anything else.

Yes, their "beta" is live for the last few months, but according to many users, it is not a beta, more of an "alpha" and at times, just about usable.

There are many issues with the platform, mostly relating to speed, pages loading/not loading, ability to post images in posts (how hard can that be??), the inability to see your own posts, etc.  The Sapien team are aware of this, particularly after a group of users who invested in the ICO formed a Telegram group to discuss their concerns and presented these to the team.  Did anything happen?  Yes and no.  Some issues got fixed, but quite a lot did not.  It is quite clear that Sapien have NO developers working on this project.

Their statistics do not make sense.  This articles lists two of them - which sound ridiculous when placed side-by-side.
https://www.investinblockchain.com/sapien-shatters-user-growth-projections/
Sapien claims to have "4,000 active daily users", yet also boasts that "since June, 10,000 posts have been created on the platform".
So - 4,000 active daily users have only managed to create 10,000 posts in a period of almost 3 months???

As someone who uses the platform, I can confirm that their "active daily users" figure is a lot closer to 40 than it is to 4000.

As for their original raison d'etre of "fighting fake news", not only are they clueless in how to achieve this, but they seem to actively encourage fake news on the platform, particularly in relation to political posts.  Ill-informed or blatantly incorrect material is not removed, just left to sit there, even after it has been reported as fake.  Thankfully, most of their userbase is only interested in crypto, so the political propaganda spread by a couple of professional trolls does not hold much sway.  However - "fighting fake news" - not a chance... 

Since the introduction of their "Rewards Engine" a few weeks ago, users get paid to comment or upvote a certain number of posts each week.  So, any post is going to get upvotes and meaningless comments, simply because people want to earn more tokens. 

And lastly, not only does Sapien not have 4,000 active daily users, but it does not have the infrastructure to cope with that many.  It is slow and laggy even with the small amount of users it has at the moment.  It needs a serious amount of work if it intends to scale or gain any kind of wider adoption.  And since their "development team" - if they ever had any - appear to have either lost interest or moved on, this is looking extremely unlikely.

Before anyone accuses me of spreading FUD, all of the above is from my own personal experience of using the site.  I was very supportive of Sapien in the beginning and I do hold SPN tokens.  However, would I consider them a good investment at the moment?  No.

Well sapien network was promoted heavily during their ico, i was watching it everywhere maybe it was due to a lot of bounty hunters in their campaign, i think we should have to wait and see a little more lets see their claims of a ready platform are true or not.

This reeks of prolonged exit scam.

FYI - I have filed a complaint with the Consumer Financial Protection Bureau - here -> https://www.consumerfinance.gov/complaint/

I encourage everyone that participated in this disaster to do the same.

Here's the domain registration information:

Ankit Bhatia

2024 Durant Avenue, 402, Berkeley, CA 94704

Email: [email protected]

Phone: (510) 789-3522

in any case, all negative information is used according to a certain plan, which is aimed at discrediting a particular project. Therefore, before believing or perceiving news, they must always be checked.

Ethier it is a scam or not but the good thing has we had an opportunity to check the legitimacy of the project, though if it is a sort of FUD then we will have time to avoid of being a scam, so thanks for the information.