Topic: Very suspicious "Ethereum Tree" Ponzi scheme, no whitepaper & roadmap. (Read 361 times)

This is cmpletely a scam project..some of the youtubers saying that is an amazing project bullshit...
Ethereum tree is the biggest scam no source of income, no whitepaper and no team members information..
Who do we trust them competely a scam..

Ponzi scheme: A scam that pays out previous investors by taking a portion of the deposit of subsequent investors.

Ethereum Tree: A project that pays previous investors by taking 10% of the deposit of subsequent investors.

---

You in saying Ethereum Tree is the perfect project just completely exposes yourself, either as a shill or completely ignorant to the fact that this is a complete and utter scam. I don't know how to put it more clearly to you than what I just did above.

They have no business model (apart from their pyramidal/ponzi structure) that produces sustainable profits, and even though they may be doing this on the Ethereum network without intermediaries, it's still a ponzi scheme nonetheless that will eventually reach a breaking point.

It's literally HYIP games in the earlier days reborn on blockchains. And nothing else.

It does not matter if I am newbie or what in Bitcointalk. Important thing is you cant even distinguished between scam ICO projects and legitimate DAPPs and hence asking for Whitepapers. Everything is mentioned in Medium article. Seems you have invested in some other Ponzi scheme and now wants to protect yourself.

Whatever it is for me "Ethereum Tree" is perfect project and I started earning from it. I just wanted to spread right awareness about god projects so that people can earn out of it. I just don't blame any project without knowing complete concept.

Really ? Can you describe more briefly why are you thinking we should invest on it?
Stop create new account to defend accusation. Come with your original account and defend it. You just create this account last day and analyse about thier project. This is one of symptoms of scammers. This is self admitted ponzi scheme, and all ponzi scheme means scam eventually. So stop your fucking defend by create new account.

I also think it's a scam! Red flags

Newbies give green signal to everything... so, this comment above cannot be trusted.

Just how deseperate can you be to create multiple accounts to defend your project really ?, and more importantly how simple minded can you be to think users will believe bunch of newly created accounts vouching for some shitty project ?

I just reviewed the project details from medium and also checked the contract code. Code is verified and all the details are properly mentioned.  No ponzi scheme is there.  After reading the medium article we will get complete idea about this project.

Unlike ponzi here investors can join at any time and increase interest rate by holding more amount of ETHEREUM in there account. I think this is the beauty of this project.

Also no token sale or ico involved like other scam projects so I guess its good concept and I think investor can go for it. It is highly secure decentralised DAPP. 

So green signal from my side. 

Thanks

Stop shitposting, this is ponzi.

Whitepaper and medium isn't same. Are you stupid that you compare whitepaper with medium? Verified contract code doesn't prove anything. You have ZERO idea about token. You need only lees than 10$ to deploy and verify smart contract code. No road map means project just want to scam us and skip with fund. Team members are well edited. Call them to make a video on YouTube. Investment system clearly described as a ponzi scheme. So no doubts they will exit once upon a time.

No doubts you are defending scammers or you are from team. So stop defending scammer if you are not from team.

Just checked website and project and my observation is.
1. White Paper: On Medium article they have clearly mentioned about idea and working so not sure why white paper required
2. Contract Code: Verified contract code and I found that no involvement of tokens at all. Generally in Ponzi schemes contract owner increase count of tokens and withdraw ethereum on behalf of that tokens. That risk not present here. Owner can only earn when he will invest and receive dividend because same solidity functions he has to call for investment and withdrawal which users has to call. All programming functions look good for me as solidity developer.
3. Roadmap: Project is already ready. I can see verified contract code available in etherscan with few investment. So not sure why roadmap required for completed project.
4. Team: Verified photos of team members uploaded on website using "google reverse image search" and no matching entries means photo not taken from internet. May be that's valid team.
5. Early investor gain: Yes agree because in such project if you are early investor or if you have capacity to hold then its win win situation but if you want immediate income in same day then it will difficult. May be ethereum you have invested will be double if they will get 10-20 more investor/withdrawal after your investment. This is little safe compared to option trading where you will get double in same day. Please refer BitMex for option trading which is high risky.

** Invest with your own research
** If interested to invest don't waste time as early investor or holders increased money x times in such project
** Referral program is attractive if you don't want to invest. Check that.

The project name is literally "Ethereum Tree", ponzi style. On top of that, they don't have any product except "money distribution to investor". So no real business, early 'investor' win and gain from a new investor. Clear ponzi.

I'm pretty sure the team is fake too.

Website: https://www.ethereumtree.com
Archived: Click here
Profile link: https://bitcointalksearch.org/topic/m.49731597
Archived: http://archive.is/id7xv
What happened: Ponzi Scheme & no whitepaper, roadmap.

Ethereum Tree name look like scammy to me. I can't see any whitepaper and road map on thier website.
However they have explained clearly how they will distribute profit and its obvious ponzi scheme.

Let's check on their website,




There is more clear explanation on their ANN thread. I will quote the part of distribution.







So is it not clear ponzi scheme ? All ponzi scheme have turned into scam eventually. So stay away from them.