Topic: Trestor [Scam] (Read 6164 times)

Scam or not.. you need to take a close look ...and like trestor... Bitcoin will also be scam to you bra

why we are discussing about trestor its so disgusting stop wasting ur time as  well of other it was scam it is scam so stop it bro 

This starting to burst!

Says something about how much tech does Thapar, IIT Bombay & NASSCOM understand.

Archived the facebook post before they remove it: https://archive.is/ejZAO

No it isnt. Trestor is enrolled in an incubator recognized by GoI.
Its really shameful of STEP or THAPAR university incubator, whoever wrote that  recommendation letter in this form for you because they did not do due diligence of understanding cryptocurrencies and the scams associated with it.
 
Please don't be passive aggressive. Makes you look more scammy.

I read it again and it contains all of the same flaws, (thanks for wasting everyone's time??) namely,
i. All coins are still produced by trestor out of thin air and audaciously at a value equal to 1 rupee by default without any backing or asking value!
ii. All transactions are still controlled by trestor because there is no way to know if validators are not trestor people themselves.
iii. Even after such critical flaws, & even if majority of validators are trusted, the coins manages to remain centralized. Refer to the validator bootstrapping process.

Please point out the data.

The title was magically fixed just a couple of days ago I guess, even before you made this post! I am a skeptic.


Nobody owes you anything, onus is on you to prove that you are not fraud.
In fact you should be thankful that critics took time to review your code and whitepaper & gave you chance to rectify & improve.. but I guess your system was perfect since the very first launch, something even bitcoin couldn't do! Congratulations.
OR you could continue your strategy of working on things offline, but how long do you think its going to scale?


Only kunal said things that were technically false till now & now you have joined as well.
My fear is that when this bursts, you might get all cryptocurrency space in India regulated or banned.

I didn't know that this thread was still active, I had lost hope. Thanks manav and ranvijay for bringing in some rationality.
Anyways, since this thread is active, I would just share a few updates:

General Updates

• Trestor is now a Government of India Recognized Startup (DIPP-1098): http://startupindia.gov.in/uploads/pdf/Fourth_Meeting_of_IMB.pdf
• Trestor Recently Presented at NASSCOM's Event https://twitter.com/trestor/status/762912611923005441

Tech/Product Updates

• Trestor's Brand new app is live - https://play.google.com/store/apps/details?id=com.trestor.android, https://trestor.org/app
• Updated Whitepaper: https://trestor.org/files/trestor-whitepaper-voting.pdf
• Updated Website (Brand New Design): https://trestor.org
• Updated Careers Page: https://trestor.org/work-with-us
• Press and Media Coverage: https://trestor.org/media
• Trestor is now also open to Blockchain Consultancy: https://trestor.org/blockchain-consultancy-and-services

Market Related Updates

• There are many businesses in Chandigarh accepting Trest as a payment method. You can see them on the app.
• Additionally, These places give a flat 20% discounts when you pay with Trestor App. You can experience paying with a cryptocurrency there  .
• These include a number of popular restaurants, cafes, salons and other stores.
• Trestor is looking to Raise Funds to strengthen the team and expand further.
• Video on Trestor's Experiment in sector 43: https://www.facebook.com/trestor.org/videos/663739137126235/

If anyone is looking forward to visit Trestor's office

• Trestor Office Location on Google Maps: https://www.google.com/maps/place/Trestor/@30.723191,76.847677,15z/
• Trestor Office Photograph: http://imgur.com/a/Pth1t

And yes, because we humans understand things by connecting them to something else, the the valuation of 1 trest = 1 rupee could be understood as pre-sale.

Given the data in this thread, it proves that Trestor is a legitimate startup. Also, the allegations put on Trestor are baseless.

Manav1112, I'll be really happy to see you here and answer your questions. As per your conclusion, I request you to fix the title of the Thread as this allegedly harms the company. Hope you understand.

I'm here to answer genuine questions once the title is fixed.

Thanks,
Saurabh, Design and Product Lead - Trestor
in.linkedin.com/in/saurabhsoniss

So, Trestor is a very different project. My parents, are a big fan of Trestor because across the city there are many places where you can pay via Trests and all these places will give you a 20% discount if you pay via trest.
 
Also, they live in Sector 43 where trestor cleaned garbage and created an organic farm.

https://youtu.be/evQCciUJ4LQ

Honestly, I cannot connect the dots as to why a blockchain startup would create organic farm. There are many unanswered questions which we should get answers of, maybe Trestor should answer them in this thread.

What I am certain of is they are not a scam and they should do a better job at explaining their business model to bitcoin community in India.

Okay, so my friend met Saurabh Soni and other team members at Trestor Office in Chandigarh. The total number of people at that time in the office were around 15 - 17. There were 3 girls. They had a 3D Printer, not that it matters, it was a nice office setup. Nothing overly great. He could not meet Kunal as he was in Mumbai to meet investors. Apparently they are in the process of raising capital. They had one visitor from IIIT, New Delhi. Trestor is in talks with IIIT and some IITs to run their node and contribute to their network source code. Saurabh mentioned most of the stuff is on their website, I found the following link:

https://trestor.org/source

They are using a Ripple/Stellar like consensus mechanism. Trest is at 1 Rupee because as of right now Trestor is custodian of most of the Trests, Saurabh was clear that the price would begin to fluctuate, and markets will decide the price as more and more trests are out in the market.

My friend visited their office, took some pics and talked to their team. I asked my parents to download the app and use 'trests' at trestor merchants in Chandigarh. The overall feedback is good. Will share details tomorrow. My Sundays are working, Mondays are off.

I've asked one of my friend who also works in Chandigarh IT park area to visit Trestor's office address given on their website. LinkedIn search shows that 37 people work for them, some of them are part time. My friend told me that Chandigarh IT Park is hub of best IT companies in Chandigarh.

Read this article: http://digitalcreed.in/?p=3122

They are trying to increase the acceptance of their tokens via making people grow organic food or sharing content therefore growing the community, that explains why they spent money in Sector 43.

Trestor will definitely fail because the amount of money they are spending on community can never be recovered by hoping that people will accept trest. Good deeds does not mean good business. Nice try though.

once upon a time i tried http://sadhanaforest.org/india/

@manav1112

If you are visiting them then please ask them my questions, also talk to their tech team, how good they are and who funds them. Where and how big is their office, click some pics if you can and share it with us.

Hello,

I visit bitcointalk forum every now and then, but this thread made me create an account so that I can post. My parents live in Sector 43 Chandigarh. Trestor has made some smart organic farm there, they have also made a media sharing wifi network in that community.

My question to Trestor is that you should first decide if you want to get into smart city business or cryptocurrency business. Why would you spend so much money giving free wifi and organic food to a community, who pays for BITS engineers, who is funding as I don't know of any VC funding Trestor. 

Why create a recyclable waste collector and water dispenser, are you in getting into Waste management business now.

Reference: http://www.thehindubusinessline.com/news/clean-drinking-water-from-a-hitech-waste-bin/article8447548.ece

None of this makes any sense whatsoever.

I think this should be clarified if you guys would like to clear your name in this community.

Im pretty sure they are still centralised, which requires the users to all have a lot of trust on them - which makes me still doubt them.

from what i currently understand, trestor + workaway.info
might be a very good combination, for example 

Hi Chokho

Can you please list any changes in the project since the whitepaper came out?
Back then I had specific problem with:
1. Origin of trests is centralized
2. Federation of entities confirming transactions can oligopolize the network

Could you please point out if there is a misunderstanding or change in protocol?

Thanks manav1112. :)

The only reason to cause most of the community here to think this is because the way the last scam thread with you guys ended, so we assumed you guys ran away! I will change the thread title now that you have clarified.

Good question. Quoting from Wikipedia and Investopedia:

Calculating Market Cap - Market capitalization is just a fancy name for a straightforward concept: it is the market value of a company's outstanding shares. This figure is found by taking the stock price and multiplying it by the total number of shares. (Simple math)

As outstanding stock is bought and sold in public markets, capitalization could be used as a indicator of public opinion of a company's net worth and is a determining factor in some forms of stock valuation.

So, market cap has less to do with how much "worth" one thing is respect to another. I hope this little concept of economics helps.

Also, if you could answer me this: What is bitcoin really doing that it's market cap is 7Bn? :)
How do you justify "worth" of a cryptocurrency - Market Price, Number of people writing blogs about it, number of transactions, number of accounts or real world usage? There are no such parameters, worth is completely subjective.
I hope I helped you realize that "worth" and "market cap" are different things.

@manav1112: Can you please change title of this thread to something neutral like "Exploring Trestor", rather than a title which defames our hard work? Thanks :)
I have been working with Trestor for past 2.5 years and giving all that I have to it. You would understand how bad it feels when someone outrightly accuses without making sense on something that you have build with so much effort.

Edit: Again, we are open, I invite you guys to come and meet us to understand and clarify things. :)

I'm sorry but you need to work on your reading skills.
I never said that it's a scam BECAUSE there's a broken webpage.

I'm not trying to insult you, and I'm not jumping to conclusions.
I said it's a scam, because you think that trests are worth USD 1.5 Billion.

Do you know what the market cap of Ethereum is?
It's USD 1 Billion.

Care to explain why you're worth more than ETH?