Scam!
or not a scam, that is the question
-William Shakespere (never said this)
Is Pie or Piex coin a scam or not?
Many seem to think so, others disagree. Only the original developers can say. IM sure some coins started out as scams and became genuine others started as genuine and became scams. It's all a matter of perspective I guess. Im not able to comment on Pie or Piex but I have listed here some of the main characteristics of a scam coin project, which you can use to help you make up your own mind.
6 Characteristics of a scam coin:
1:
Evidence (lack of)No
evidence of substantial work produced regarding the product development. No github account or if there is one then the account has little recent activity. Most of the observable effort energy and activity by the development team is directed towards marketing and PR activities.
2:
Clarity (lack of)The content of the white paper (if one exists) and website contain confusing technical terminology and buzz-word marketing jargon. If You can't make sense of any of it you are not stupid, but they want you to think that you are. There are often spelling mistakes and grammatical errors throughout any published material.
3:
Debate (lack of)Dissenting voices (the unbelievers) will be ridiculed and attacked mercilessly by shill's, who will intimidate and drown them out. There is no room for balanced discussion in scam town because the coin and underlying idea can't withstand critical analysis.
4:
Diversity (lack of)The naive and uninformed victims will be isolated from the experienced and knowledgeable veterans who can spot a scam coming a mile away. The victims are corralled in a space controlled by the scammers, where the dominant voice is the one that tells the victims only what they want to hear. "Trust us" "You will be rich", "Dont miss out", "Huge Profits", "Act now" "dont regret". Any dissenting voices remaining in this group will be quickly neutralised, blocked, or ejected from that space.
5:
Protection (lack of)Scammers will sometimes ask you to deviate from the normal custom and practice procedures that are there to protect you. Turn off your firewall, supply your private key, or you may for example be instructed to install a wallet from a source other than the original developers site.
6:
Accountability (lack of)When everything goes belly up eventually, the scammers want to ensure they have no accountability. The so called "developers" if listed at all on the website may either be anonymous or using false names and photographs.
If the focus of your researched coin has the characteristics of all 6 of these points above then you are probably better off investing elsewhere. If you think I should add anything to the list let me know.
regards
Amicus Lei
MA DJ TRUS
Side Note: I worked in a rehabilitation centre 2 years ago, where I met a group of convicted fraudsters (scammers). They were members of a longitudinal research study
1 which was nearing completion. I was asked to assist in the facilitation of a non directive focus group session. The study followed them (all male) over a period of 12 years and the findings unilaterally concluded that they are for the most part deeply unhappy individuals who lead a lonely existence. The study concluded the root of their social disorder and psychological problems stem form deep sexual inadequacy, which manifested itself in excessive masturbation poor personal hygene and below average intellectual capabilities. All of the men also displayed gerontophilia tendencies, regular bouts of incontinence and suffered from TPP (tiny penis perception) syndrome.
1S. Kam, PI Coyne"Psycho-social deviant behaviour and the excessive incontinent marturbatory theory of the Stupid" Journal of Psychiatry and Sub Neanderthal survivalists 58, no. 4 (2007): 588.