Topic: UPStake is Scam and offers Ponzi membership(UPStake Edge) (Read 585 times)

Any update about this project. Is it legit or scam ? i have been trying to withdraw funds but so far no success. Anyone got any success ?

what release.. they release that they charge you more money to be able to try to sell.. or the gambling that im willing to bet my left and right testicle is rigged. and before you start calling people a "jerk" take a minute and think about what he has probably gone thru.


i recently took my site down against the ponzi scheme that is upstake, due to coming to the realization that any attention to it is good for them even if it is bad press it still makes people talk about it. but.... i was also kicked off the discord for asking who is the dev .. and making the comment that " makes me feel that they have something to hide if they wont put their name on the project"

the long and short of it all:

1.you dont have access to your coins.. or tokens whatever.. you cannot withdraw them from website. there is no way to move them to your personal control.

2. there are about 5 bots i have noticed controlling the "exchange" the first 5 or so orders to sell are roughly the same each reset.

3.  with that reset.. every hour the orderbook sends the tokens back to the users website address. then there is a like 60 second countdown and then you can place orders again.. seems like a nice idea.. but.. you have to choose percentage of your balance to sell.... wait for the website to actually show what you chose.. then enter in your 2fa and wait for the website to confirm the 2fa and if it takes to long to confirm and the 2fa changes.. then guess what you get an error saying its wrong and have to enter it again. i spent 30 minutes just trying to get the website to confirm the 2fa just recently when i went to check on my $300 worth of tokenshit and tried to sell some.

4. and with the mention of releasing stuff.. their most recent release, the grand fix to everyones issues with never being able to sell....... was the exchange 2.0 which involves you paying them more BTC (not upstake tokens ... oh no.. they dont want that shit. they want your btc) to become a "premium member" and gives you more chances to fight the bots.. i mean sell on the exchange.

5. and...finally.. they wont let you sell your account. its ours.. in our name.. we paid for whats on there. but they threaten you in the discord that they will freeze your account and block you from the community for selling what is yours.

so...trackingcryptos... i have done the research.. i have been in it... im still stuck in it and still have NEVER been able to sell... and i challenge you to show ANY proof of a person that has sold.. that isnt an admin, mod, or support staff.  but if you love it soooooooo much and believe in this project... i have  115 tokens.. going at $3.65 per token according to their site, at the time of this posting.. that ill sell you my account for for $100.. you know what ..no.. $80.. ill take a loss.. just to get the fuck away from this ponzi scheme. and you dont even have to buy in public here.. dm me ill give you my phone number you can call me

The jerk that started this post doesn't know sh+t about the project.  Everyone needs to dyor and not listen to people that complain on this site.  If this is a scam, they would not be continuing to release new functionality, etc. 

i have made a webpage explaining ponzi and pyramid schemes. you can decide for yourself if its a scam.. but i suspect it of being one myself.


https://upstake-scam.xyz/

This is just another variation of the Bitconnect scam.  You can see a lot of similarities on their website.  Most crypto investments are just shell companies stealing people's monies.  You're just depositing money into someone else's account.  There is no regulation.  The creators are just lying to you with fantasy stories.  That is why regulation is needed.  It's just the Wild West.  It's like someone coming up to you, shooting you, and stealing your money.

The YouTubers could face legal and criminal action because they are promoting financial products without a license and approval in the countries they are advertising to especially in developed countries.  You can see this in the ongoing Bitconnect case.  If Bitconnect didn't work, 99% of crypto investments will not.  The creator of Upstake will remain anonymous or point the finger at the YouTubers.

If you want to invest in crypto, only invest your money in the regulated and license exchanges (Coinbase, Gemini) and HODL or day trade the top five coins.  Do not transfer crypto to anywhere else.  Everything else is just junk and lies.  Libra might work in the future because it will be regulated and controlled.  Without regulation, people will just steal from each other.

If it is a scam, how can it be justified that they are a token of the tron ​​network?

https://tronscan.org/#/token20/TUezhPtdMYByMLtYXPS2J8UfRMqtXHEZsE

I dont think there's any legal actions that may happen. They surely reason out that the video is sponsored and they are not liable with what the company had done.

On other countries, it will backlash to creators because they accepted the offer but here in Philippines it's unlikely to happen. There are lots of scamcoin and ponzi schemes here that targets gullible people and there is a very little chance that someone is held acountable.
Popular scams here are thebullioncoin(TBC) and MMM

I want to ask a question, what if someday they will close or shutdown and people will start to ask for refunds if something bad happens. What will happen to these youtube content creators who advertised this so-called Ponzi?

Since I also saw some of the youtube content creators you mentioned that they advertise the UPStake. Seems likely their reputation will be affected once UPStake is proven a scam or offers Ponzi membership.

Also, I completely forgot! Where are the private keys of users' wallets

Yes, there is nothing even to read !!! Absolutely nothing intelligible! Tokens on the site are sold by admins and developers, user accounts that ask a lot of questions on Twitter are blacklisted! What else can you say?
Why the team cannot do the elementary - show your wallet addresses for all to see

Very misleading post. I recommend you read the whitepaper which will bust a lot of the statements made in this. The exchange where you have selected show the current hour is also very misleading. There have been over 9,500 successful transactions in the last few months.

In regards to edge its not an ROI and technically has very little to do with upstake. Edge is a network marketing smart contract. You buy 1 and you get two. In order to start an edge, you need to fuel it with UPS. 90% of those UPS tokens are burned immediately reducing circulation.

I strongly recommend you take some time to read the whitepaper and do some research rather then just jumping to the conclusion this is a ponzi or scam. https://t.me/upstake/159

 

It is indeed a ponzi scheme. The only difference between it, Yobit's ROM and Bitconnect, is that it has not succeeded yet as a ponzi. The funny thing is they are still at it. I don't know if they are waiting for a crypto bullmarket to lure in "new investors."

It's quite a sophisticated scam, I'll give them that.

But this is no different than the Rise Only Markets that yobit offers (which has been accused of being a ponzi many times), except they do it on a much larger scale and with more features. It's at best a pyramid scheme given the nature of the setup where prices are artificially inflated, and the referral networks, which is illegal in most jurisdictions around the world; but the fact that they have a calendar and plans that promise returns suggests to me that it can be safely classified as a ponzi scheme.

Investors I think will fall into the trap because this isn't a typical ponzi scheme and there seems to be a token/coin that is underlying all of this. But not only is the token completely illiquid, its value solely depend on the sustained payouts by the platform. It's important to recognise this. Once there is no demand for the token anymore, which will happen as a matter of time given the fact that the market is only allowed to rise, or the platform stops paying out, token prices will plummet much like how Bitconnect was set up.

It says on their roadmap that they've been established last 2018. Maybe they rebranded the site or something.

I am more concern that they now target youtube creators with huge fanbase. What I can only think of is it's all about the money, I hope these creators cost them their integrity in the future once the site runs with their funds.

I know this UpStake we back 2017 and it is more of a HYIP site and the funny thing about it is that you can't get any profit to it unless you won't make any invites.

I don't know what the heck people are thinking about their investment, you did deposits and if you can't make an invite at all, your investment will never move up and in the end it's all your loss. I was shocked they really move up to next level even to make an exchange. Hoping many will be aware about this.

Okay thanks, will move it now.

Thanks for the good digging OP.
I think the perfect place for this post is the scam accusations board.  

I came across this token while watching one of the local youtube creators on our country. The video they made is sponsored by UPStake Token, after checking and reviewing the site I find some red flags about it.
Site: https://upstake.com/
Ann thread: https://bitcointalksearch.org/topic/ico-5x-upstake-innovative-token-1-token-burn-ico-50-almost-soldout-4433672
Bounty: https://bitcointalksearch.org/topic/bountyupstake250000-ups-tokens-4441123

I Immediately check their site and find these features of the Token:
What is UPstake?
"UpStake tokens (UPS) are designed to increase in value over time."; from that I am already in doubt about the coin because they fail to acknowledge the law of supply and demand.
Key features:
Limited Circulation
Value increases hourly
Proof of Burn
Anti exchange manipulation

Hoping to get more info, I search on Coinmarketcap and WorldCoinIndex to know it's trading volume but the coin is not listed.
https://www.worldcoinindex.com/coin/upstake
https://coinmarketcap.com/search/?q=UPStake

Checking User interface menu: I'll just talk about Exchange and Edge sections because that is the main concern of this thread.
Exchange - Site exchange; which is the only exchange you can trade the UPStake token.
*Here's interesting, as a result of disregarding supply and demand, you can see that there is currently 0 buy and 21 sell order. If this continue you'll find your UPStake funds stuck on the platform without a chance of converting it to Bitcoin thus making you losing money.
NOTE that the trading resets every hour so you either need to waste your time every hour just to put your Sell order at the top or accept the fact that your money is gone.


*Calendar view of UPStake value


Edge - UpStake Edge is another feature of UPStake which is a crypto investment that allows you to make passive profits through micro networking.

https://youtu.be/kgnbwt2FOyg?t=10 - After watching the video; I know that's Ponzi.
The one at the top will benefit the most and latecomers will be the one at high risk.
*UPStake Edge membership

It is like one of those 10%,20%,30% growth whenever you make referrals on your downline. 'Active Silver Edges' is the number of team you have below you.




Some of our local youtube creators with a huge number of audiences is being sponsored by this token. There is a chance that someone may fall into it because creators are influential enough with their fanbase.
Youtube creators sponsored video by UPstake.
Ja Mill 3.8m Subscribers - https://youtu.be/GbT9xO_tF0w?t=308
Tukomi 1.6m Subsctibers - https://youtu.be/9w81vgeXh_g?t=855
Viy Cortez 593k Subscribers - https://youtu.be/eQi_xzHmsJ4?t=667 (Part 1) | https://youtu.be/b7xuy-t78sw?t=139 (Part 2)

UPStake thread:

*I can share the account I used on UPStake if you want to see it's interface inside or is it okay to make the account public?