Topic: math SO BAD its terrifying (Read 57 times)
What did you find ?
HEY there everyone!!!
i am a n00blet according to my forum profile, however i have been a miner on and off and a crypto enthusiast since 2013/14.... and needless to say i have seen some SCAMS in my time in the community. everyone knows the ones which will live in infamy like mastercoin and bitconnect, but there has been SO many it gets hard to keep track. However i believe that it is our prerogative as a community to immediately call out any scammer for what they are, in order to protect at all costs the reputation of the crypto community. if our community is tainted by negative generalizations about crypto derived from the likes of bitconnect and davor coin it will be extremely difficult for us to fix our collective reputation. and without a solid reputation as a foundation to build our projects upon, these projects will have no value to the general public and the hard work of the developers will all be for naught.
this brings me to the reason for this post.... im sure that many of you by now have heard of Proof of Weak hands (p3d is the erc20 token name). there has been alot of buzz about this token recently, especially on youtube, and in the couple short weeks since it was released there has already been more than 2 million dollars poured into it! just like many of you, when i first stumbled upon this i was very interested because they claim to be doing what bitconnect said they were doing, except that all of the code is public and written in solidity, and the token is on the ethereum blockchain. of course we all know the SEVERE damage that our community has suffered at the hands of Trevon James, Craig grant, ryan hildreth, and others because of bitconnect. so the thought of another bitconnect made me quite furious at first. but then if you watch a few youtube videos you see that these guys are shilling this in a whole new "reputable" way. basically these youtube personalities are portraying this token as being totally secure because its all written in a smart contract and is open source for anyone to critique and audit. many claims have been made about how there just is no way to get scammed by buying into this, how an exit scheme is not possible because no one person has access to the contract funds, and that all you have to do is hold your tokens and your guaranteed to make money. however it is quite unfortunate that people who are shilling the idea that its secure because it is a smart contract, cant even read the contract itself! well i did read it and i found out lots of stuff that raised red flags, and hope you all stay far away from this!
i am a n00blet according to my forum profile, however i have been a miner on and off and a crypto enthusiast since 2013/14.... and needless to say i have seen some SCAMS in my time in the community. everyone knows the ones which will live in infamy like mastercoin and bitconnect, but there has been SO many it gets hard to keep track. However i believe that it is our prerogative as a community to immediately call out any scammer for what they are, in order to protect at all costs the reputation of the crypto community. if our community is tainted by negative generalizations about crypto derived from the likes of bitconnect and davor coin it will be extremely difficult for us to fix our collective reputation. and without a solid reputation as a foundation to build our projects upon, these projects will have no value to the general public and the hard work of the developers will all be for naught.
this brings me to the reason for this post.... im sure that many of you by now have heard of Proof of Weak hands (p3d is the erc20 token name). there has been alot of buzz about this token recently, especially on youtube, and in the couple short weeks since it was released there has already been more than 2 million dollars poured into it! just like many of you, when i first stumbled upon this i was very interested because they claim to be doing what bitconnect said they were doing, except that all of the code is public and written in solidity, and the token is on the ethereum blockchain. of course we all know the SEVERE damage that our community has suffered at the hands of Trevon James, Craig grant, ryan hildreth, and others because of bitconnect. so the thought of another bitconnect made me quite furious at first. but then if you watch a few youtube videos you see that these guys are shilling this in a whole new "reputable" way. basically these youtube personalities are portraying this token as being totally secure because its all written in a smart contract and is open source for anyone to critique and audit. many claims have been made about how there just is no way to get scammed by buying into this, how an exit scheme is not possible because no one person has access to the contract funds, and that all you have to do is hold your tokens and your guaranteed to make money. however it is quite unfortunate that people who are shilling the idea that its secure because it is a smart contract, cant even read the contract itself! well i did read it and i found out lots of stuff that raised red flags, and hope you all stay far away from this!
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