Author

Topic: Piercing the veil on BEAM Mimblewimble coin (Read 313 times)

member
Activity: 433
Merit: 48
June 02, 2021, 11:25:13 PM
#6
As a member of Beam Foundation ... lets try to clear some things Smiley

Beams ecosystem relies on a multitude of fingerprintable applications which identify their users to the central authority. Cumulatively this reveals enough information to paint a very complete picture of not only who these users are, but what other crypto their systems contain, along with a bunch of personal metadata. Their claim to mathematical privacy is a great distraction to their nefarious reality.

Sry for being skeptic here, but - can you give a single example about data collected by Beam team? If you create a desktop wallet you just run the software and the only data you need to insert is a password to protect your own wallet. Not more, no personal data collected. And as you can see in the source codes of Beam also for transactions there are no real metadata collected on top of what is needed to do the transaction. So please give examples for your claim. Note that stuff like KYC on exchange does not really count, cause every serious exchange needs to do that in case they want to allow trading with fiat currencies - and for Beam you even can trade to other crypto by just using the atomic swaps in the Wallet without giving any KYC data to anyone.

Tho one thing that may support your theory though is how paranoid Beam and its people are about hiding the fact that they are an Israeli company.

Well - do you know where all the other developers of other projects are sitting? I mean ... for Beam the Team is quite well known, there is a quite complete list on the website - and even with real names. It is easy to google them and find out where people are sitting. It is true, that the Beam "HQ" is located in Tel Aviv, but team overall coming from many countries - we got the UK, Belarus, Singapore, Germany and others in the list as well.

Either way, I think Beam is scam because they collect 20% mining tax, then dump it driving the price down daily, but tell their peeps to HODL Smiley

Ahm wait. Where is to promises to HODL? No, the Beam is not being hodl - well unless single individuals decide to do. If you analyze the file in github which does the tax-transactions you will see that there is not one big wallet getting it all. Instead the core developers wallets, investors wallets and also the foundation wallet are hard coded into the source code. Especially for the developers: that is their salary - they can hodl if they want, but are free to spend  when ever they like or need - e.g. to pay their daily expenses. I only can tell you about the foundation wallet though (getting 2.5% and so is the biggest single wallet). Here the situation is like "keeping some buffer" for unforeseen situations, but generally the money is spend. To fund stuff like hackatons, or ambassador events or ... well ... to fund overall we get an ecosystem for the Coin. It was never said the money will be hodl only - and to be honest that would be stupid! We need to develop an ecosystem to survive - as any crypto does. And that costs money. Also ... from side of an investor: would you like a currency where you do known one person holding a high % of the supply? That could drop a huge bomb every day? We rather aim for having the situation to say "well, that is it, funds are depleted, we are out" once the tax ends. Because then the funds are in circulation and no one needs to be afraid there could be a big drop later on. We are not XRP or stuff like that ^^
newbie
Activity: 4
Merit: 0
BREAKING NEWS coming about BEAMs involvement in the March hacks of Grin based cryptocurrency projects: Grin, Epic Cash, and MWC MimbleWimbleCoin First there were rumors of Beam Team having a team of black hats at their disposal. Not surprising considering their Israeli military connections, see above, check their LinkedIn. Then came first proof possibly connecting BEAM leadership to ordering the hit on competition! Now there is a confession of one of their Ukrainian programmers! Oooh my! 
newbie
Activity: 4
Merit: 0
January 11, 2021, 02:17:06 PM
#4
Yo Grin boys!!
What is your problem with Beam??
Why do you care if we are Israeli??
Facts: Israel is Number One, and Beam is better than Grin!!
We got more coders, more code, more shekels, more of everything!!
Yes Grin was early, but Grin blew it!! Tromp (TRUMP) is hype and arrogance!!
No cap on emission and no difficulty adjustment equals no scarcity and no value!!
Stop comparing yourself to Monero and Ether, you are neither!!
Unsecure, low capacity network, that’s why you got 51% attacked, and delisted from exchanges!!
At least the exchanges you got left inflate your volume too, so you do not look completely dead!!
Oh and Tromp (TRUMP) answer to attack is spend his devs money on hardware to boost network capacity to compete with his own community miners?!?! Whuuut?! Facepalm!!
Yes Grin launched first, but who cares?!
It just means you are older, boomer!!
Grin was like a wheel and Beam is like a car around that wheel, better with more features!!
Goyim!!

Did you get a discount on punctuation? Which Beam guy are you? The fat guy, the horrible accent guy, or the guy with scary mono brow?
Get your facts checked buddy. Grin did not have a 51 percent attack or double spend. Stop FUDding
newbie
Activity: 1
Merit: 0
January 08, 2021, 03:53:28 PM
#3
Yo Grin boys!!
What is your problem with Beam??
Why do you care if we are Israeli??
Facts: Israel is Number One, and Beam is better than Grin!!
We got more coders, more code, more shekels, more of everything!!
Yes Grin was early, but Grin blew it!! Tromp (TRUMP) is hype and arrogance!!
No cap on emission and no difficulty adjustment equals no scarcity and no value!!
Stop comparing yourself to Monero and Ether, you are neither!!
Unsecure, low capacity network, that’s why you got 51% attacked, and delisted from exchanges!!
At least the exchanges you got left inflate your volume too, so you do not look completely dead!!
Oh and Tromp (TRUMP) answer to attack is spend his devs money on hardware to boost network capacity to compete with his own community miners?!?! Whuuut?! Facepalm!!
Yes Grin launched first, but who cares?!
It just means you are older, boomer!!
Grin was like a wheel and Beam is like a car around that wheel, better with more features!!
Goyim!!
newbie
Activity: 4
Merit: 0
January 02, 2021, 07:10:52 PM
#2
Hey,
 
Much as I like your conspiracy theory about Beam  Roll Eyes, I think it is a much more boring and straight forward money grab operation, like people been sayin this. They couldda been a showcase win for Mimblewimble, but became a well-known crypto dumpster fire. Beam started as a for profit corporation with investors who were promised the Crypto Lambo Moon, and with miners who are fleeced with a 20% mining tax! Tho one thing that may support your theory though is how paranoid Beam and its people are about hiding the fact that they are an Israeli company. They definitely have something to hide! Beam admins delete all non-sycophantic posts in the social media channels they control.

Either way, I think Beam is scam because they collect 20% mining tax, then dump it driving the price down daily, but tell their peeps to HODL Roll Eyes. If you held BEAM since the beginning peak pump, and every day thereafter, YOU LOST MONEY Shocked. On top of that, they use exchanges that report massively inflated fake volumes. Funny thing, BEAM Corp promises to hand off the reigns to the “community” and stop the tax in five years. The community will inherit a nice pile of bones, with the meat cleaned off them through five years of intense corporate feeding! They are also very disdainful and ungrateful towards the Grin community, playing up the recent 51% Attack on the Grin network which resulted in a double spend. Anywaze, bad eggs all around.
newbie
Activity: 4
Merit: 0
December 30, 2020, 07:31:02 PM
#1
While Mimblewimble is widely considered to be a phenomenal platform for privacy and scalability, Beam’s approach to its implementation raises red flags among the privacy advocates and security experts. At the 2019 DEF CON 27, more than one crypto expert suggested that Beam may be a honey pot project to help identify individuals across the world who are “overly” concerned about privacy. Same experts concluded, that it would be very easy for Beam’s team to create a detailed database of their privacy obsessed users. Such database, in the fine tradition of other Israeli companies, can be then brokered to various governmental and private institutions.
“How is this possible?” you may ask. Beams ecosystem relies on a multitude of fingerprintable applications which identify their users to the central authority. Cumulatively this reveals enough information to paint a very complete picture of not only who these users are, but what other crypto their systems contain, along with a bunch of personal metadata. Their claim to mathematical privacy is a great distraction to their nefarious reality. It is a privacy oriented crypto that through social engineering process enables easy identification of people who are into privacy crypto and may have something to hide. Thus, people who are using more successful privacy crypto currencies like Monero or Zcash maybe outed by Beam.
Founder of Beam is Alexander Zaidelson, a Russian born Jewish technologist with background in customer behavior and data analytics. It is ironic and more than a little suspicious, that a company allegedly focused on privacy crypto is based in Israel, and staffed with former Israeli, Russian and Ukrainian military personnel among its leadership, investors, and developers.
Beam is no stranger to controversy and keeping its userbase in the dark. In their early days they concealed a wallet vulnerability that in some cases could lead to funds being completely stolen. Despite the claim of being an Open Source project, this vulnerability was addressed through a close source “fix”. This is just one possible vector of injecting backdoor code.
It is worth noting that Beam was launched after Grin, another Mimblewimble platform. Grin has more security in mind and written in Rust (a language faster than C++ but one that is faster and provides more memory safety). Copying some of Grin’s ideas, Beam capitalized on the privacy hype that Grin created with Mimblewimble tech to lull privacy seekers into a false sense of security. That is how the trap was set! While Mimblewimble and Grin are very private and secure, what Beam did was anything but. To further confuse the public, their pursuit of the Lelantus protocol drew some chuckles from those in the know…
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