KICKICO-KickEx:Legit business or scam in making?

Rikafip

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Quote from: cryptoaddictchie on May 02, 2021, 04:25:55 AM

Thats a lot actually mate. But if there are some who tried who knows might worth a chance if and only price of kick is worth it.

What you basically get is 25% of the trading fees that you paid. Doesn't make any sense to do it, especially not doing it on that dodgy exchange. The only time when this is worth trying to do it after they finish with the KICK dump. As the price goes lower, so is the amount of KSD needed. But still, you have to be crazy to go for it, and hodl those shitcoins hoping that hey might get pumped again in the future. Unless you are very experienced trader, you will probably loose more money while trading than those tokens are worth, no matter the current price.

As I said before, system is built around tricking greedy and naive ones, and luckily for Kickico, there is abundance of those in crypto.

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Quote from: Rikafip on May 02, 2021, 03:26:45 AM

Remember, their unlock (or "unfreeze" as they like to call it) system is tied to the value of KICK, so as KICK price goes up, so the amount of KSD needed. So, if aidropped KICK tokens are suddenly worth 5,000 USD, you will have to get 5,000 KSD, and to get 1 KSD you have to spend 4 USD in trading fees,meaning 20,000 USD spent in trading fees.

Thats a lot actually mate. But if there are some who tried who knows might worth a chance if and only price of kick is worth it.

I'm pretty sure some are still mad and pissed with this airdrop since their value is quite appealing only if can be send only to burn address so it won't show up. But the team is really smart and tricky to pull of this method but very selfish also.

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Quote from: cryptoaddictchie on April 28, 2021, 11:54:31 PM

Quote from: Husires on April 27, 2021, 10:33:12 AM

Have you heard of any true case of someone who was able to unfreeze these coins? Why we did not hear the stories of some people who were able to unfreeze 888,888 KICK and thus stir up a little greed?

If the value goes close to 5 to 6k then I maybe try to pull recovering it. But right now it's not that much si we will just waste time and money.

You forgot the crucial thing here, and that is if the price of KICK goes up significantly so 888,888 KICK is worth $5-6k, that means unlocking of those tokens will become much harder too.

Remember, their unlock (or "unfreeze" as they like to call it) system is tied to the value of KICK, so as KICK price goes up, so the amount of KSD needed. So, if aidropped KICK tokens are suddenly worth 5,000 USD, you will have to get 5,000 KSD, and to get 1 KSD you have to spend 4 USD in trading fees,meaning 20,000 USD spent in trading fees. Unless you are whale, it will be impossible for you to reach that. And if you are whale, you won't bother with these shitcoins. Catch 22.

Once again, you have to be either insane or completely clueless to try doing something like that, and that's exactly their target audience. God knows how many greedy noobs swallowed the bait, sent the money to their exchange, did KYC and then realized that unlocking is much harder than it looked at first.

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Quote from: Husires on April 27, 2021, 10:33:12 AM

Have you heard of any true case of someone who was able to unfreeze these coins? Why we did not hear the stories of some people who were able to unfreeze 888,888 KICK and thus stir up a little greed?

If the value goes close to 5 to 6k then I maybe try to pull recovering it. But right now it's not that much si we will just waste time and money.

But spending a 500 or 1k usdt on something glike worth 10k above is worth it right? However no one actually speaks here in even though we knew there are dozens of account or 2wallet address received the 888,888 token of kickIco

Rikafip

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Quote from: Husires on April 27, 2021, 10:33:12 AM

Quote from: Rikafip on April 26, 2021, 12:29:18 PM

My advice for you is to simply forget about those airdropped tokens and move on. It's simply not worth the money and effort.

people are willing kyc for 1000 dollars. 888,888 is much greater than what some would risk doing.

888,888 KICK is currently worth only ~$250 so it's not as much as you think. And in order to unlock those tokens you have to spend amount several times higher than those tokens are worth, and while doing so you will probably loose even more money as if you are not an experienced trader, you will loose the money.

When you take all that above into consideration you will understand why noone in their right mind will try to unlock those tokens.

Husires

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Quote from: Rikafip on April 26, 2021, 12:29:18 PM

My advice for you is to simply forget about those airdropped tokens and move on. It's simply not worth the money and effort.

Have you heard of any true case of someone who was able to unfreeze these coins? Why we did not hear the stories of some people who were able to unfreeze 888,888 KICK and thus stir up a little greed?
people are willing kyc for 1000 dollars. 888,888 is much greater than what some would risk doing.

Rikafip

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Quote from: Beparanf on April 26, 2021, 06:40:01 AM

Is there someone here successfully unfrozen there airdrop kKIK token? I've got tons of this token that I get during 2017-2018 airdrop and the current price is very tempting to redeem. I already read the mechanics of unfreeze for the token but I'm worried whether they will really giveaway there free token or not.

I seriously doubt that you will find anyone who managed to unlock KICK tokens, as based on my little napkin math few posts above you would have to pay ~$1340 of fees in order to unlock 888,888 KICK. While doing so, you will probably loose few couple of thousands more, unless you are an experienced trader..

My advice for you is to simply forget about those airdropped tokens and move on. It's simply not worth the money and effort.

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Is there someone here successfully unfrozen there airdrop kKIK token? I've got tons of this token that I get during 2017-2018 airdrop and the current price is very tempting to redeem. I already read the mechanics of unfreeze for the token but I'm worried whether they will really giveaway there free token or not.

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Quote from: Rikafip on April 15, 2021, 11:08:05 AM

So, in order to unlock those freezed 888,888 KICK you have to pay 72 USDT of trading fees. At first this seems very simple. But let's say that as a fee they take 0.5% (which is as far as I know pretty much standard percentage ) so in order to pay those 72 USDT of fees, you have to make trades worth of approximately 15,000 USD. Unless you are an experienced trader, chances are that you will loose some money while doing so. Then add on that that you will have to do KYC on that dodgy exchange, send your own money there etc, I doubt that many will bother with this.

But that is just the begininng. Bare in mind that math has been done when 888,888 was worth only ~17 USD, and now the price is ~20x more, or more precisely 335 USD, meaning that you need 335 of their KSD in order to unlock them. So now you have to pay 4x335 (1340 USD) in trading fees to unlock the tokens, meaning hundreds of thousands of dollars worth of trading.

Unless I messed up the math (which was never my strong point) seems to me that you have to be completely insane to go through all that in order to unlock those shitcoins.

No your math is correct. However as has been discussed

1) Their withdraw fees are, are at least were stupid high. So you loose that to.
2) It's a small exchange with limited coins.

Never forget: TANSTAAFL:

There
Aint
No
Such
Thing
As
A
Free
Lunch

Apply this to everything that is given to you for free, especially in the crypto world, and then figure out what the cost really is.

-Dave

Rikafip

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Quote from: cryptoaddictchie on April 16, 2021, 12:41:02 AM

Oh fuck that! Maybe I shouldn't claimed those silly airdrop. It's just literally annoyed me when I've checking my wallet on etherscan that the value in USD is display knowing all these facts that it's gonna take and cause us so many money to claim it. I wish they just unlock it the way it supposed to be cause this is really a dirty kind of marketing just to gain clients and traders.

Of course you shouldn't try to claim those, as chances are that you will loose way more while trading than those tokens are worth. I know that I would loose shit load of money in process as I am terrible trader Cheesy

In the end demands are completely crazy and out of reach of anyone who real target audience of this airdrop is. After all, that's one of the reasons why they keep pumping and dumping

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Quote from: Rikafip on April 15, 2021, 11:08:05 AM

Unless I messed up the math (which was never my strong point) seems to me that you have to be completely insane to go through all that in order to unlock those shitcoins.

Oh fuck that! Maybe I shouldn't claimed those silly airdrop. It's just literally annoyed me when I've checking my wallet on etherscan that the value in USD is display knowing all these facts that it's gonna take and cause us so many money to claim it. I wish they just unlock it the way it supposed to be cause this is really a dirty kind of marketing just to gain clients and traders.

Rikafip

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Quote from: cryptoaddictchie on April 15, 2021, 03:06:42 AM

I'm just confuse the ratio on how much it would unlock everytime we trade? For example you trade 400usd worth how much is gonna unlock on the kick token side. Like 1/4 or half of the supply already? Worse lower?

This is from their website in regard to the unlocking of those "freezed" tokens

Quote from: https://support.kickex.com/hc/en-us/articles/360017496440-How-to-unlock-your-888-888-KickTokens-from-FrozenDrop

Are there any fees for the unfreezing procedure?

Yes, since the token has a smart contract on a blockchain, a certain fee is charged for each defrosting transaction. That is a dynamic fee charged in KUSD equivalent. For example, you want to unfreeze 888,888 frozen KickTokens at $0.000019 per KICK, which is $16.89, then you need to have $17 in KUSD on your account + fee = approximately $17.9 in KUSD.

What is a KUSD token?

To unfreeze the KICK tokens, you need to have KUSD tokens. KUSD is a semi-stable token on the KickEX exchange that is backed by proof-of trading and a fixed price within the Kick Ecosystem. The KUSD token is rewarded to traders for their trading volumes on the KickEX exchange. A trader receives 1 KUSD for every 4 USDT of the trading fee they paid. So the more you trade on KickEX, the more KUSD you have, and the more frozen KickTokens you can unfreeze.

So, in order to unlock those freezed 888,888 KICK you have to pay 72 USDT of trading fees. At first this seems very simple. But let's say that as a fee they take 0.5% (which is as far as I know pretty much standard percentage ) so in order to pay those 72 USDT of fees, you have to make trades worth of approximately 15,000 USD. Unless you are an experienced trader, chances are that you will loose some money while doing so. Then add on that that you will have to do KYC on that dodgy exchange, send your own money there etc, I doubt that many will bother with this.

But that is just the begininng. Bare in mind that math has been done when 888,888 was worth only ~17 USD, and now the price is ~20x more, or more precisely 335 USD, meaning that you need 335 of their KSD in order to unlock them. So now you have to pay 4x335 (1340 USD) in trading fees to unlock the tokens, meaning hundreds of thousands of dollars worth of trading.

Unless I messed up the math (which was never my strong point) seems to me that you have to be completely insane to go through all that in order to unlock those shitcoins.

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Actually looking on this thread and see if there are people whom already tried out cashing out some of their kick tokens since the way now to retrieve or unlock it is use the platform by doing some trades.

I'm just confuse the ratio on how much it would unlock everytime we trade? For example you trade 400usd worth how much is gonna unlock on the kick token side. Like 1/4 or half of the supply already? Worse lower?

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Quote from: Rikafip on April 10, 2021, 01:47:27 AM

~

Quote from: ene1980 on April 09, 2021, 05:54:56 PM

The bait actually worked and when i was going through my old wallet which were empty i found one with $400 odd and was checking how it came to my wallet but never found an answer and now after seeing this thread i knew i made a mistake as i already transferred ETH to that wallet thinking i could send and then came to know about the restrictions Undecided

.

Hah yeah, that sucks, but at least you didn't decide to buy more of that KICK tokens, or to register on their exchange and trade in order to unlock them, which was their main plan.

I did register to see the trading volume and when i tried to send the coins i came to know about the restrictions and hell no i am not going to purchase anything else to cash this out as i know i will be richer never touching those coins rather than trading when i do not need to.

Quote from: Rikafip on April 10, 2021, 01:47:27 AM

Quote from: ene1980 on April 09, 2021, 05:54:56 PM

So anyone here tried to unlock the coins and how much dollars worth you need to trade for the coins to be unlocked.

Bare in mind that KICK is pump&dump shitcoin, so current price can dramatically change any day now. While current value of 888,888 KICK is ~500 USD, just one month ago it was ~25 USD. Every once in a while they have this pumps as an attempt to attract people like you to register and trade on their exchange. So chances are that by the time you finish with unlocking price will go down where it was before, close to 0.

Thing is, if you are good trader, this money is peanuts for you and you can make it easily on any other exchange. But if you are not, you will loose more money while trying to unlock KICK tokens than they are worth. As simple as that.

I am not going to put much effort, when i read their unlock methods, they cited an example that we need to have around $18 KUSD something like that to unlock the coins and every 16 USDT worth of trading will give you a dollars worth of KUSD. If that is the real situation then it is not that hard to unlock those coins but i have not heard about anyone unlocking and i do not want to spare my time experimenting for $400 either.

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Quote from: GrosWesh on April 09, 2021, 03:31:55 PM

Unfortunately, you can stay assured tokens value will dump hard once they are unlocked (maybe end of 2021 if i correctly understood ?).

This token is faking our wallets real value by now ! Sad

They way I understood it, tokens are unlocked when you are active on their exchange. AS you are trading, you are earning what they call "$KEX tokens" which are used to unlock KICK tokens. So the only way to unlock them is to actively trade, and how many successful traders you know?

Quote from: aioc on April 09, 2021, 05:22:47 PM

I have no updates on this token, if they ever unlocked it, it will bring down the value to zero but at least I can get rid of it.

Sooner or later it will go to 0, but until then it will remain annoyance in the wallet, that's for sure.

Quote from: ene1980 on April 09, 2021, 05:54:56 PM

The bait actually worked and when i was going through my old wallet which were empty i found one with $400 odd and was checking how it came to my wallet but never found an answer and now after seeing this thread i knew i made a mistake as i already transferred ETH to that wallet thinking i could send and then came to know about the restrictions Undecided

.

Hah yeah, that sucks, but at least you didn't decide to buy more of that KICK tokens, or to register on their exchange and trade in order to unlock them, which was their main plan.

Quote from: ene1980 on April 09, 2021, 05:54:56 PM

So anyone here tried to unlock the coins and how much dollars worth you need to trade for the coins to be unlocked.

Bare in mind that KICK is pump&dump shitcoin, so current price can dramatically change any day now. While current value of 888,888 KICK is ~500 USD, just one month ago it was ~25 USD. Every once in a while they have this pumps as an attempt to attract people like you to register and trade on their exchange. So chances are that by the time you finish with unlocking price will go down where it was before, close to 0.

Thing is, if you are good trader, this money is peanuts for you and you can make it easily on any other exchange. But if you are not, you will loose more money while trying to unlock KICK tokens than they are worth. As simple as that.

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Quote from: Rikafip on April 08, 2021, 12:40:12 PM

~
If I remember correctly their plan was to distribute 888,888 KICK to 1 million addresses, with the hope that some will swallow the bait and either buy more KICK or register on their exchange in order to unlock them.

The bait actually worked and when i was going through my old wallet which were empty i found one with $400 odd and was checking how it came to my wallet but never found an answer and now after seeing this thread i knew i made a mistake as i already transferred ETH to that wallet thinking i could send and then came to know about the restrictions Undecided

.

So anyone here tried to unlock the coins and how much dollars worth you need to trade for the coins to be unlocked.

aioc

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Quote from: GrosWesh on April 09, 2021, 03:31:55 PM

Unfortunately, you can stay assured tokens value will dump hard once they are unlocked (maybe end of 2021 if i correctly understood ?).

This token is faking our wallets real value by now ! Sad

I have 3 of my wallets with Kicks on it, it's one of the annoying shitcoins that I always see every time I logged in to my main wallets, it's value is going up and down and it has some impact on me because my wallets are not showing the correct value, because of the presence of these shitcoin, it's one of the coins that I want to get rid of to bring back the real on time value of the coins I have in my wallet.

I have no updates on this token, if they ever unlocked it, it will bring down the value to zero but at least I can get rid of it.

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Quote from: masulum on April 09, 2021, 12:45:27 PM

I can't imagine anymore, even though it looks tempting, with the current ETH gas price, it will make us more and more losing. We never know where this token price will end. So, it is better for this tokens to have value in the wallet than we are forcing, but when all the tokens are unfreeze, that tokens cannot be sold at a high price, as we know this is just pump and dump, we don't know where the price will be stopped.

Unfortunately, you can stay assured tokens value will dump hard once they are unlocked (maybe end of 2021 if i correctly understood ?).

This token is faking our wallets real value by now ! Sad

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hmph..

Quote from: Rikafip on April 08, 2021, 01:31:45 AM

But imagine how much trading you have to do in order to unlock those tokens, especially if you are small time trader, and only those will go through something like this to get few dozens of dollars worth of tokens. Since they are probably not an experienced traders, they will probably end up loosing more through trading than those tokens are worth.

I can't imagine anymore, even though it looks tempting, with the current ETH gas price, it will make us more and more losing. We never know where this token price will end. So, it is better for this tokens to have value in the wallet than we are forcing, but when all the tokens are unfreeze, that tokens cannot be sold at a high price, as we know this is just pump and dump, we don't know where the price will be stopped.

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Quote from: Rikafip on April 08, 2021, 12:40:12 PM

Quote from: stadus on April 08, 2021, 11:25:46 AM

I'm following this thread as I was also surprise I have some KICK in my wallet, I cannot remember I participated in a bounty campaign before.. maybe I did but it was a long time ago and this token has no value before so maybe it slipped in my mind.

You don't remember doing anything to get KICK tokens because you didn't have to do absolutely anything to get them, except to have relatively active ETH wallet at the time they were sharing those shitcoins. Tens of thousands of people have those useless shitcoins that they never wanted, or did anything to get them.

If I remember correctly their plan was to distribute 888,888 KICK to 1 million addresses, with the hope that some will swallow the bait and either buy more KICK or register on their exchange in order to unlock them.

Now I know, so I should not be excited with my token holdings now as there's a little chance that I would be able to enjoy it. Bad marketing strategy, I guess this project would not last, it just pump because of the bull run hype but in the long run they might still fail.

Topic: KICKICO-KickEx:Legit business or scam in making? (Read 943 times)