Topic: WARNING Why Arcblock <ABT> is potentially a scam ::) ::) - page 2. (Read 1734 times)

Just like how you said that's make people that participate hurt, many of ico that in the progress seems like scam with some arguments but in the end it shows itself that it is good quality ico. Hope arcblock will be like that too.

I'm not trying to stand in the gap for the project. It's true their telegram admins do avoid some questions but that's not reason enough to tag it as scam. Haven read the 28pages of their whitepaper, there was not any point they said refer to something else. The end will tell if it was a scam or not. Let's wait it out.

I would stay away from this one.  Tons of red flags as they made plenty of lies like being the first platform for dapps, having relationships with IBM and SAP.   Also only a team of 4? Really.  They are also kicking people from their telegram for asking simple questions.  It has scam checked in every box.

Guys, thanks. I think also. Some of the proposed developments no have analog now. CloudNode live only in mind. May be project not scam but we don't see real product long time. Now they must find excellent programmers for all. But where?

If you give me 300 million USD, i'll give you a paper with some black text on it, a wordpress site, and create a telegram channel with 40k bots too. NP, lets begin ScamBlock 3.0 ICO right now

Thanks for your information and analysis. It sounds reasonable to me.
Arcblock do have some hype right now, but there are too many redflags.
I will follow this project, but probably won't participate its ICO.

Oh well, I guess with this level of hype they'll raise enough money to hire blockchain developers. I've been proven time and again that a team didn't seem qualified to execute the plans of the white paper - by the way did you know some projects have been outsourcing the writing of their white paper? - after the end of the ICO they just hire the people they need, partner up with a tech heavy team or against the odds get a working product and end up with a successful business. Business first, tech second can be a successful strategy. Not saying I condone it, but if it works it works.

this are not small redflags.. but fucking huge. this is not something you can ignore.

I am from Seattle and an active participant in Seattle tech startups community. Arcblock CEO was previously working on a mobile app startup PixoMobile, one of their products is an iphone photo edit app similar to instagram. From his linkedin, he was working on his PixoMobile app until mid or late 2017, and his expertise is full stack, launching cloud service as well as mobile app UI development, but very little work or experience in blockchain technology. My guess is the development they have done so far in 2017 of their roadmap is very minimal, that's why they don't have an engineer team or any code on github. Some of the gateway, sub/pub services, cloud service mentioned in their white paper are likely borrowed from previous backend work of PixoMobile, not really related to the blockchain project. The foundation of arcblock, Open Chain Access Protocol, is not even in development, just on the design stage. I might be wrong, but if Arcblock can upload any codes of the blockchain work they have done so far to public repo in github, that would prove me wrong and also give all the ICO investors a peace in mind. The other weird thing is he did not list any developer in his team, the excuse of keeping his employees heads down and away from recruiters is not convincing, as most successful ICO does have a good team with excellent engineers, and engineers who are working for a great product won't leave the company because of recruiter calls. Just my two cents. Hope we will have more ICO companies that are more transparent and developing great blockchain product.

Classic, Newbie accounts spread bad news about a project and after the ico process is complete, the coin pumps. reminds me of centra.

From the start I've been kinda worried about Arcblocks.
Many people talk good about it, yet they have no product and are selling Erc-20 tokens.
They're supposed to be blockchain 3.0, but right now you will get tokens, which you must trade against the real product later..
when it's ready.. after the ICO.. of which they receive a lot of money..

I'm not spreading FUD, I'm just trying to give insights.
I think it's safer to invest in ICO's that either have an actual product ready.
Or have a very good plan, exposure and most importantly, a great team with experience.

Wow. Not a best way to establish a connection with potential investors. I been in many groups already -Telcoin, Trade IO, MedicalChain and etc and all admins were very helpful answering questions.
Can you please share the questions you were asking so I could try replicating the ban?

Yesterday, I was kicked from the telegram group, by admin named Edna, for asking technical questions about token distribution and ICO phase. She could not answer my questions. And when i squueze her with harder questions, she banned me 

I just want to warn people seriously for this project, there are lots of red flags and this meaningless ban.. !!

I will not invest in this project and good luck to whom are investing!

I also send message to Suppoman about the situation I experinced, and kindly requested if he would talk about it todays video.

ArcBlock seems to be a very ambitious project. So my question is why there are only 4 team member?
Founder, scientist, marketing, legal counsel. That's all? I really doubt if such an monster can be developed by one or two person...

The red flags are too many. This kind of ICO has a high probability to become scam. I don't wanna deal with this kind of ICO where simple question cannot be answer straight.

Also vested funds not locked by a smart contract? Ico not done by smart contract?

Arcblock has been pretty spammy recently and from only a couple accounts they say the same thing.

Yes, I also read in Telegram when asked some questions, hence there are certain thoughts.
It's good that you wrote this topic. While I will only observe

actually I really want to follow the project but I feel I'm too late to join!

You will regret and claim yourself if you don't join ArcBlock. Its really a good project with great team and big community.