Topic: WARNING Why Arcblock <ABT> is potentially a scam ::) ::) - page 4. (Read 1713 times)
I'm wearing the ArcBlock signature so as you can imagine I'm not too happy to read those red flags concerning ArcBlock. It's true the admins on Telegram are using fake names and profiles. On one hand this is crypto and we should be accustomed to anonymity (who is Satoshi Nakamoto?) on the other hand we didn't have to pay Satoshi Nakamoto to receive Bitcoin in an ICO, but ArcBlock are trying to convince people to invest millions. Hiding behind photos from professional models isn't a great way to earn trust.I hope most of the red flags can be removed soon.
That's a lot of redflags
The point you give is quite reasonable but not all are correct. Please refer to the other views of the blog: https://arcblockscam.blogspot.com/
---- Ali13196----
1) Arcblock claims to have partnerships with big companies like IBM and SAP - meanwhile there is no evidence of this anywhere to be found; the community admins on their telegram refuse to answer the question that is continuously asked of them: 'Arcblock claims to have partnership with IBM and SAP but there is no reference to these partnerships or any other on the net, please clarify.'
2) Arcblock has no code on Github
3) Lack of technical development roadmanp
4) Whitepaper keeps telling you to refer to something else which is non-existent
5) how will they prevent SIBIL attacks if the devs pay the “gas fee”?
6) No mention of a lockup period for their coins.
They want $40mill for a project that has 0 foundations
Justin Tomboulian - is not the Microsoft CIO of Japan; if he were ever, his career there ended in 2013.
The team all have a track record for starting businesses that do not go far; this is not necessarily a bad thing - but are they just jumping on the bandwagon?
---------The user "bustitout" poses some questions---------------
- On LinkedIn, ArcBlock includes a total of 4 people but they say they have a team of experts. Robert Mao, CEO stated that it is their strategy to keep their minds from being distracted by social media so they can focus on the project.
- They listed IBM and SAP (among others) as partners. We all know the value relationships with IBM are: XLM (Stellar - by Elon Musk). I also asked them about this. They claim that they are "IBM Business Partners" and "Blockchain's Coinnovation Partners with SAP". From what I gather, an "IBM Business Partner" to them, simply IBM customers.
----------
Here is a user named "mave99a" who claims to be the founder of Arcblock to answer questions raised as follows:
- ArcBlock is NOT an open source project, nor is it developed by volunteers, we build it with the commercial software development process that I have many years of experience.
- Our platform is a pretty big challenge: we do not build a new blockchain, instead we are building a new computing platform for developing blockchain applications. (So block chain 3.0 is simply an old chain block application?)
- Almost all the members and mentors have a relationship with me. For example Flavien is my friend in Microsoft Europe. Justin is a Microsoft co-author and co-author of one of Bill Gate's best-selling Think ...
----------
+ The user named "playaz3" questioned:
- Can you explain why admins / mods in your group use fake images from instagram and avoid any questions about the above issues?
+ The user named "UpBoatDownBoy" asked the question:
- Hey, can you answer the business partner question?
- The user "mave99a" (founder of the Arcblock project) replied:
We have just become a member of IBM PartnerWorld, and as in the White Paper, we plan to support IBM Cloud (Bluemix) in the future. We have also become part of the SAP co-owner blockchain program.
- User "nfuckinsane":
Do you have documentation to prove this?
- The user "mave99a" (founder of the Arcblock project) replied:
Yes, however we will not release it. The agreement between us and our NDA partners. We can jointly clarify here, but we will not post those materials here.
- User "Ali13196":
Partnerships have no meaning at all - anyone can get involved in this kind of partnership!
----------
+ User "UpBoatDownBoy":
Does this mean that it's not a collaboration in the traditional sense, like between IBM and Facebook, that Arcblock is simply an IBM customer?
+ The user "mave99a" (founder of Arcblock project) replied:
- As a person with many years of experience in large companies, I know the establishment of partnerships with large corporations is not difficult as many people think.
However, we are still too young to establish a strategic partnership like facebook at this stage, but we will try to achieve it after we become bigger.
+ User "Ali13196":
- So you want to make money first, then find partners?
(Question too !!!)
1) Arcblock claims to have partnerships with big companies like IBM and SAP - meanwhile there is no evidence of this anywhere to be found; the community admins on their telegram refuse to answer the question that is continuously asked of them: 'Arcblock claims to have partnership with IBM and SAP but there is no reference to these partnerships or any other on the net, please clarify.'
2) Arcblock has no code on Github
3) Lack of technical development roadmanp
4) Whitepaper keeps telling you to refer to something else which is non-existent
5) how will they prevent SIBIL attacks if the devs pay the “gas fee”?
6) No mention of a lockup period for their coins.
They want $40mill for a project that has 0 foundations
Justin Tomboulian - is not the Microsoft CIO of Japan; if he were ever, his career there ended in 2013.
The team all have a track record for starting businesses that do not go far; this is not necessarily a bad thing - but are they just jumping on the bandwagon?
---------The user "bustitout" poses some questions---------------
- On LinkedIn, ArcBlock includes a total of 4 people but they say they have a team of experts. Robert Mao, CEO stated that it is their strategy to keep their minds from being distracted by social media so they can focus on the project.
- They listed IBM and SAP (among others) as partners. We all know the value relationships with IBM are: XLM (Stellar - by Elon Musk). I also asked them about this. They claim that they are "IBM Business Partners" and "Blockchain's Coinnovation Partners with SAP". From what I gather, an "IBM Business Partner" to them, simply IBM customers.
----------
Here is a user named "mave99a" who claims to be the founder of Arcblock to answer questions raised as follows:
- ArcBlock is NOT an open source project, nor is it developed by volunteers, we build it with the commercial software development process that I have many years of experience.
- Our platform is a pretty big challenge: we do not build a new blockchain, instead we are building a new computing platform for developing blockchain applications. (So block chain 3.0 is simply an old chain block application?)
- Almost all the members and mentors have a relationship with me. For example Flavien is my friend in Microsoft Europe. Justin is a Microsoft co-author and co-author of one of Bill Gate's best-selling Think ...
----------
+ The user named "playaz3" questioned:
- Can you explain why admins / mods in your group use fake images from instagram and avoid any questions about the above issues?
+ The user named "UpBoatDownBoy" asked the question:
- Hey, can you answer the business partner question?
- The user "mave99a" (founder of the Arcblock project) replied:
We have just become a member of IBM PartnerWorld, and as in the White Paper, we plan to support IBM Cloud (Bluemix) in the future. We have also become part of the SAP co-owner blockchain program.
- User "nfuckinsane":
Do you have documentation to prove this?
- The user "mave99a" (founder of the Arcblock project) replied:
Yes, however we will not release it. The agreement between us and our NDA partners. We can jointly clarify here, but we will not post those materials here.
- User "Ali13196":
Partnerships have no meaning at all - anyone can get involved in this kind of partnership!
----------
+ User "UpBoatDownBoy":
Does this mean that it's not a collaboration in the traditional sense, like between IBM and Facebook, that Arcblock is simply an IBM customer?
+ The user "mave99a" (founder of Arcblock project) replied:
- As a person with many years of experience in large companies, I know the establishment of partnerships with large corporations is not difficult as many people think.
However, we are still too young to establish a strategic partnership like facebook at this stage, but we will try to achieve it after we become bigger.
+ User "Ali13196":
- So you want to make money first, then find partners?
(Question too !!!)
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