Categories
Altcoins scam

Not your keys, not your coins enshrined in US case Law

Here and there, I will post things that are important.

https://decrypt.co/39574/not-your-keys-not-your-coins-enshrined-in-us-case-law-says-lawyer

There is no guarantee that this loophole won’t be exploited by insolvent exchanges planning to exit-scam. My gate.io account from 2017 is frozen They want me to do K.Y.C done it 4 times, everytime they come with a excuse to delay the withdrawing process. Letters too small, letters on my passport not sharp enough. We need to see your elbows, camera needs to be further away. Without KYC, you can’t withdraw from exchanges that require K.Y.C.

Bilaxy, MXC, HOO, Gate.io, hotbit , and dozens of other smaller exchanges are all washtrading to fake volume. They pay popular crypto-outlet to write fake reviews. If you’ve been in this space longer than 2-3 years, you know these smaller exchanges are full of shit.

https://medium.com/@dosnetwork/an-announcement-to-users-with-dos-tokens-on-the-mxc-exchange-4f754b21a26c DOS has to fork because MXC sold dos tokens they didn’t have.

MXC is not allowing XOR holders to withdraw their coins right now
https://twitter.com/sora_xor/status/1290390214368563200

Stick to less scummy exchanges like Binance or Decentralized exchangs like Uniswap, 1inch.Exchange, if you know what is good for you.

Categories
scam

pyramid schemes clogging the ETHEREUM network and slowing down DeFi

Let’s look, who is responsible for clogging the Ethereum network (last 30 days)

https://www.ethgasstation.info/index.php

Top gasburners – last 30 days (tether, forsage etc)

It’s kinda funny, how forsage is making no effort in hiding the fact that they are running a pyramid-scheme, even the structure is shaped like a pyramid… right in your face, zero fucks given lol.


Ethereum gas-prices are now surpassing all-time-highs. There is no doubt this will cut into the returns for yield-farmers but would it be enough to cause a exponential DeFi slowdown?

If S.E.C won’t shut the ponzi’s down.

Fees for Decentralized Exchanges like kyberswap, uniswap, will continue to rise and liquidity will move back to centralized exchanges.

The DeFi revolution on Ethereum will either slowdown or come to a complete halt until a solution is found.

Keep a eye out for other chains that can offer the same DeFi services but on a different chain.

Update…

Forage, LionShare are ponzi-schemes, stop sending me messages on telegram that they are not. You don’t know what you’re talking about.

They promise GUARANTEED and CONSISTENT returns, Since you have LOCKED/STAKED your money, you CAN’T sell when the pyramid collapses. I promise you within 6-12 Months, you will see your favorite decentralized bla bla pyramid-scheme featured on S.E.C frontpage. No, I’m not snitching… I don’t have to do anything, it’s all cause and effect and a matter of time.

  • guaranteed returns
  • consistent returns (even the best hedgefund on the planet – Jim Simon’s medaillion fund can’t guarantee consistent returns)
  • Staked your funds, now your funds are locked and you can’t cash out when shit hits the fan.

Categories
scam

Marketcipher is a Free indicator.

Marketcipher Scheme

Some youtubers are reselling modified open source indicators for a hefty sum. 0.1 BTC to be exact. $750 for a free indicator. You know who you are.

Marketcipher isn’t a magic indicator, it’s a glorified momentum indicator with redundant bells and whistles that often repaints before the Candle Close. The sourcecode is based on Wavetrend oscillator by LazyBear. Not giving the original authors credit is a scummy move.

I found this on pastebin and modified some of the settings. If you are the author, I will credit you. greaterfoolzzz @ protonmail.com

MarketCipher doesn’t protect you against falling knives.

Trading bitcoin comes with many variables.

//@version=4

study(title="MarketCipher_FREE", shorttitle="MarketCipher_FREE")

// FUNCTIONS {  

// MovingAverageTypes
ma(matype, src, length) =>
    if matype == "RMA"
        rma(src, length)
    else
        if matype == "SMA"
            sma(src, length)
        else
            if matype == "EMA"
                ema(src, length)
            else
                if matype == "WMA"
                    wma(src, length)
                else
                    src

// } FUNCTIONS  


// PARAMETERS for lightweight version 1.0 {

// Wavetrend Channel Length
n1 = input(7, "WaveTrend Channel Length")
// Wavetrend Average Length
n2 = input(12, "WaveTrend Average Length")

// Wavetrend MovingAverage Parameters   Exponential weighted, weighted , exponential, simple
wtMA = input(defval="EMA", title="Wavetrend MovingAverage Type", options=["RMA", "SMA", "EMA", "WMA"])
wtMA1 = input(defval="EMA", title="Wavetrend MovingAverage Type 1", options=["RMA", "SMA", "EMA", "WMA"])
wtMA2 = input(defval="EMA", title="Wavetrend MovingAverage Type 2", options=["RMA", "SMA", "EMA", "WMA"])
wtMA3 = input(defval="SMA", title="Wavetrend MovingAverage Type 3", options=["RMA", "SMA", "EMA", "WMA"])

// WaveTrend Overbought and Oversold zones
obLevel = input(55, "WaveTrend Overbought Level 1")
obLevel2 = input(60, "WaveTrendOverbought Level 2")
osLevel = input(-55, "WaveTrend Oversold Level 1")
osLevel2 = input(-60, "WaveTrend Oversold Level 2")
osLevel3 = input(-80, "WaveTrend Oversold Level 3")

// WaveTrend MA Source
ap = input(ohlc4, "WaveTrend MovingAverage Source")

// WaveTrend MA Length
sp = input(3, "WaveTrend MovingAverage Length")

// RSI Divergence bull bear detector
bearish_div_rsi = input(61, "Minimal Bearish RSI", input.integer, minval=50, maxval=100)
bullish_div_rsi = input(31, "Maximum Bullish RSI", input.integer, minval=0, maxval=50)



// Colors
colorRed = #ff0000
colorPurple = #da00ff
colorGreen = #03ff00
colorPink = color.black



// Divergence WT
WTDivOBLevel = input(55)
WTDivOSLevel = input(-63)

// Divergence RSI
RSIDivOBLevel = input(70)
RSIDivOSLevel = input(30)

// } PARAMETERS


// CALCULATE INDICATORS {


// RSI
up = rma(max(change(close), 0), 14)
down = rma(-min(change(close), 0), 14)
rsi = down == 0 ? 100 : up == 0 ? 0 : 100 - 100 / (1 + up / down)
rsiColor = rsi < bullish_div_rsi ? color.green : rsi > bearish_div_rsi ? color.red : color.purple

// Calculates WaveTrend
esa = ma(wtMA, ap, n1)
de = ma(wtMA1, abs(ap - esa), n1)
ci = (ap - esa) / (0.015 * de)
tci = ma(wtMA2, ci, n2)
wt1 = tci
wt2 = ma(wtMA3, wt1, sp)


// WaveTrend Conditions
WTCross = cross(wt1, wt2)
WTCrossUp = wt2 - wt1 <= 0
WTCrossDown = wt2 - wt1 >= 0
WTOverSold = wt2 <= osLevel
WTOverBought = wt2 >= obLevel
FallingKnife = wt2 <= osLevel3

//Divergences
f_top_fractal(_src) => _src[4] < _src[2] and _src[3] < _src[2] and _src[2] > _src[1] and _src[2] > _src[0]
f_bot_fractal(_src) => _src[4] > _src[2] and _src[3] > _src[2] and _src[2] < _src[1] and _src[2] < _src[0]
f_fractalize(_src) => f_top_fractal(_src) ? 1 : f_bot_fractal(_src) ? -1 : 0

//Diverges Wavetrend
WTFractal_top = f_fractalize(wt2) > 0 and wt2[2] >= WTDivOBLevel ? wt2[2] : na
WTFractal_bot = f_fractalize(wt2) < 0 and wt2[2] <= WTDivOSLevel ? wt2[2] : na

WTHigh_prev  = valuewhen(WTFractal_top, wt2[2], 0)[2]
WTHigh_price = valuewhen(WTFractal_top, high[2], 0)[2]
WTLow_prev  = valuewhen(WTFractal_bot, wt2[2], 0)[2]
WTLow_price  = valuewhen(WTFractal_bot, low[2], 0)[2]

WTRegular_bearish_div = WTFractal_top and high[2] > WTHigh_price and wt2[2] < WTHigh_prev
WTRegular_bullish_div = WTFractal_bot and low[2] < WTLow_price and wt2[2] > WTLow_prev

bearWTSignal = WTRegular_bearish_div and WTCrossDown
bullWTSignal = WTRegular_bullish_div and WTCrossUp

WTCol1 = bearWTSignal ? color.red : na
WTCol2 = bullWTSignal ? #00FF00EB : na

//DIVERGENCE RSI
RSIFractal_top = f_fractalize(rsi) > 0 and rsi[2] >= RSIDivOBLevel ? rsi[2] : na
RSIFractal_bot = f_fractalize(rsi) < 0 and rsi[2] <= RSIDivOSLevel ? rsi[2] : na

RSIHigh_prev  = valuewhen(RSIFractal_top, rsi[2], 0)[2]
RSIHigh_price = valuewhen(RSIFractal_top, high[2], 0)[2]
RSILow_prev  = valuewhen(RSIFractal_bot, rsi[2], 0)[2]
RSILow_price  = valuewhen(RSIFractal_bot, low[2], 0)[2]

bearRSISignal = RSIFractal_top and high[2] > RSIHigh_price and rsi[2] < RSIHigh_prev
bullRSISignal = RSIFractal_bot and low[2] < RSILow_price and rsi[2] > RSILow_prev

RSICol1 = bearRSISignal ? #f802fc: na
RSICol2 = bullRSISignal ? #00FF00EB : na

// Small Circles WT Cross
signalColor = wt2 - wt1 > 0 ? color.red : color.lime

// Buy signal
buySignal = WTCross and WTCrossUp and WTOverSold
bigBuySignal = WTCross and (bullRSISignal or bullWTSignal)
buySignalColor = bigBuySignal ? colorPurple : buySignal ? colorGreen : na
plotBuy = bigBuySignal ? bigBuySignal : buySignal

// Sell signal
sellSignal = WTCross and WTCrossDown and WTOverBought
bigSellSignal = WTCross and (bearRSISignal or bearWTSignal)
sellSignalColor = bigSellSignal ? colorPurple : sellSignal ? colorRed : na
plotSell = bigSellSignal ? bigSellSignal : sellSignal

// fallingKnife
plotFallingKnife = WTCross and WTCrossUp and FallingKnife

// } CALCULATE INDICATORS


// DRAW {
// basis
plot(0, title="basis", color=color.lime)

// Draw Overbought & Oversold lines
plot(obLevel, title="OverBought Level 1", color=color.gray, linewidth=2, style=plot.style_line, transp=0)
plot(obLevel2, title="OverBought Level 2", color=color.gray, style=plot.style_cross, transp=0)
plot(osLevel, title="OverSold Level 1", color=color.gray, linewidth=2, style=plot.style_line, transp=0)
plot(osLevel2, title="OverSold Level 2", color=color.gray, style=plot.style_cross, transp=0)

// DIVERGENCES
plot(series = WTFractal_top ? wt2[2] : na, title='WaveTrend Regular Bearish Divergence', color=WTCol1, linewidth=3, transp=0)
plot(series = WTFractal_bot ? wt2[2] : na, title='WaveTrend Regular Bullish Divergence', color=WTCol2, linewidth=3, transp=0)
plot(series = RSIFractal_top ? rsi[2] : na, title='RSI Bearish Divergence', color=RSICol1, linewidth=3, transp=0)
plot(series = RSIFractal_bot ? rsi[2] : na, title='RSI Bullish Divergence', color=RSICol2, linewidth=3, transp=0)




// WT Area 1
plot(wt1, style=plot.style_area, title="WaveTrend Wave 1", color=#0ae6ff, transp=10)
// WT Area 2
plot(wt2, style=plot.style_area, title="WaveTrend Wave 2", color=#0042ff, transp=10)


plot(WTCross ? wt2 : na, title="Low probability Buy and sell signals", color=signalColor, style=plot.style_circles, linewidth=3, transp=0)  
plot(plotBuy ? -90 : na, title="High probability buy signal", color=buySignalColor, style=plot.style_cross, linewidth=4, transp=0)  
plot(plotSell ? 90 : na, title="High probability Sell signal", color=sellSignalColor, style=plot.style_cross, linewidth=4, transp=0)  
plot(plotFallingKnife ? -110 : na, title="FallingKnife", color=color.black, style=plot.style_cross, linewidth=4, transp=0) 
// } DRAW

// ALERTS {
  
// BUY
alertcondition(plotBuy != 0, "High probability buy signal", "High probability buy signal")
alertcondition(bigBuySignal != 0, "High probability buy signal with WT divergence", "High probability buy signal with Wavetrend Divergence ")

// SELL
alertcondition(plotSell != 0, "High probability sell signal", "High probability buy signal")
alertcondition(bigSellSignal != 0, "High probability sell signal with WT divergence", "High probability sell signal with Wavetrend Divergence ")
alertcondition(plotFallingKnife != 0, "FallingKnife", "Possible FallingKnife")

// } ALERTS


Categories
scam

95% OF THE UTILITY TOKENS ARE WORTHLESS.

VALUE VS PRICE

I am not a investor but I do believe certain types of utility tokens hold great value. Don’t confuse value with price. I’m a great fan of rendertoken Just because I think RENDR holds great value doesn’t mean I’m going to pay more than the actual cost in electricity for rendering out a 3D-Animation. What do I mean by this?
If it cost $10 in electricity to render out a 3d-Animation without Rendr.
I expect the Rendr utility token to do the same job for less than $10.
This is what I mean with valueRENDR is trying to be the global airbnb for electricity. The purpose of a utility token is to cut down on cost of a service.

Secondly, the the law of diminishing marginal utility guarantees diminishing prices long-term. We are dealing with service tokens aka utility tokens that represent the cost of a service, do not confuse these service tokens with genuine crypto currencies, the two are unrelated.

Youtube did a great thing, banning crypto channels. Situation of the current crypto market is dire. We have saturated market with 4000 + utility tokens spawned for free on ethereum-testnet. The of cost of production = $0,00. Value comes from actual utility.

The narrative that the hurdurrr ”As the network grows, the value of the tokens will increase” Nope, value can only derived from utility. If you want sustainable growth you need businesses that actually consume the tokenized services. Right now, the market runs on greater-fools.

If Bitcoin pumps in the next bull-cycle, dump all your utility tokens while u still can. Suggest you get out this market if you’re not a trader. Majority of the ICO erc-20 tokens are heavily manipulated. Cornering, Ramping, Pump-and-Dump. The crypto-market is unregulated, trading volume manipulation isn’t something exclusive to crypto, it happens in all markets.

SPECULATION OUTPACING UTILITY

Every utility token in the cryptospace tries to be the Airbnb of this and that, they generally end up pumped and dumped to death.


95% out of the 4500 utility tokens on coinmarketcap have been …..

  • Jacked up in price, completely defeats the purpose of a utility token. Market valuation has been jacked up by a few very wealthy buyers. They control the supply, hence they control the price by only selling tiny bits, artificial scarcity, composite man in wyckoffian logic, call it what you want. Be careful with chainlink as a ”investment”. Tokenized services are not investments. The demand for link comes from speculators (traders, investors) and not from businesses who have a usage case for the tokens.

  • Blatant narrative manipulation, utility tokens should represent the cost of a service. Some scammy businesses promote these tokens as securities or currencies. Which coin am I talking about ? (Popular coin among simpletons – dubbed the bankercoin aka XRP – they even have their own brainlet twitter army called the XRP-army) Owning one of these scam tokens doesn’t grant you ownership of the technology nor partial ownership of the company but the simpletons think they do. The simpletons even think they are holding a real cryptocurrency like Bitcoin, monero.

  • Pumped and dumped to oblivion. Price will likely congest due to the sheer amount of left-behind bagholders.

  • No development, no github commits, completely dead. The ICO founders probably exitscammed. Yes they can do that, the space is unregulated.

  • Saturation and zero innovation 10 projects ”pioneering” the same business model. Cryptocurrencies for the gaming community. Imagine thinking that E.A or Activision-Blizzard haven’t thought of that idea.

  • blatant scams runned by scammers hosted on a scam exchange like HitBTC. Spoofed orderbooks driven by wash-trades, your orders will never filled unless you market-sell with slippage. Avoid HITbtc at all cost. They are the scammiest exchange in the game.

  • Still testnet, some tokens have been on test-net for ages. Mainnet migration isn’t free, if you’re dealing with a scammy erc-20 ICO token then mainnet is out of the question.

  • Start-ups. What are ICO’s? They are fundraisers for start-ups. What do we know about start-ups? More than 90% of the start-ups fail, the statistics don’t lie. To add more injury to insult, you’re not even holding equity(ownership) in the startup nor equity in the technology. You’re holding a IOU (I owe you) a token that represents a cost of a service. You’re speculating on the future price of a service.

The list goes on and on, it’s free to launch erc-20 token on ethereum testnet. You’re literally investing into a idea and few lines of code. Some tokens do provide great value (if they can deliver a working product) but the price must match with the value.

VENTURECAPITALIST AND YOUTUBE SHILLS.

But what about Venture capitalists, Hedgefunds who invest in these tokens?

None of the VC’s are investing in the utility tokens. They see ”demand” They buy wholesale with 50-80% discount and resell them at a premium.

Yes. social-media is a manipulative bitch, the paid shills on youtube are part of the scam-campaign. FBG-capital admitting PumpAndDump.

Many paid youtube have been caught promoting worthless erc-20 tokens. The fastest way to lose your money is buying a token recommended by popular youtubers. CryptoLark and boxmining promoted PledgeCamp -80% loss on return. IvanonTech promoted sparkster -99% loss on return within 1 minute after listing. I am not wrong.

PROOF OF WORK VS ERC-20

Genuine CryptoCurrencies, yes CURRENCIES that function and act like currencies are ironically rare in the crypto space. Find a any online-store that accepts crypto currencies and tell me which coins they accept.

Litecoin, Ethereum, Monero, Bitcoin, Dash, BitcoinCash ,DogeCoin. MonaCoin What do they all have in common? Yes, correct they are all Proof of Work.

In some retail stores in Japan, you can pay with Monacoin, Dogecoin.

Besides P.O.W currencies like bitcoin, monero and litecoin there are some other newer proof of work currencies that could (not can) rapidly increase in value. One of them is called nervos, a store of value coin with proof of work consensus model. The mining-difficulty will have to increase before this S.O.V coin can appreciate in dollars. Why P.O.W? unlikely erc-20 tokens, P.O.W is backed by cost of production, it isn’t free to mine a POW coin. If demand declines, price will revert to cost of production.


Categories
scam

XRP and XLM centralized, inflationary scam

If you’re new to the scene and you are looking to ”invest” in XRP or Stellar. Don’t…. it’s a scam. Don’t buy these pre-mined tokens that are marketed as digital-currencies, they are not MONEY. Stellar and XRP fall under the category Remittance … transferring value from point A to B. Trading and dumping on xrp-moonboys is fine but investing in XLM or XRP is financial suicide.

Unlike the central bank that can print at will. The boys at Ripple and Stellar have already printed their supply. The gigantic supply is pre-mined for free and occasionally taken from the vault and dumped on the markets. How much is dumped on bagholders, varies from month to month. Remember these two words. Humongous supply and annual inflation.

Summary : 60% undistributed supply – Ripple and Jed McCaleb are constantly dumping, partnerships that don’t amount to anything. Millions of normies that bought XRP at $1-3 are itching to dump their bags at first sign of recovery.

Hurrdurr, I’m spreading F.U.D. I trade for a living, traders make money in both bull-bear cycles, what matters is volatility. Just because I trade, doesn’t mean I don’t inform myself bout the tech and business model behind XRP – ripple.

The business model is Pump and Dump and paid partnerships. I don’t know any business besides Ripple that pays their customers (moneygram) millions (13.9Million) to use their products. Literally, paying fortune 500 companies for clout and relevancy.

It’s a ticking-timebomb, just a matter of time before regulation start to catch up. While the DeFi movement is actively trying to undermine banks, these brainlets want to actively protect the status-quo. Fuck Banks.


XLM

Jed’s XRP wallet check outgoing tx’s….


Tokenomics.

Such misinformation?

XLM and XRP are centralized and inflationary.

  • The chain is permissioned, transactions have to be approved by Stellar or Ripple, which act as the financial intermediary, the middleman that ”gives permission” – and approves the transaction.
  • In theory, transactions can be reversed, completely defeats the purpose of blockchain. Digital ledgers aka blockchain should be tamper-proof, immutable and irreversible.
  • Technically, Stellar and Ripple have nothing to do with crypto. Genuine Crypto CURRENCIES <— don’t have a CEO, fancy office, can’t be shut down by governments. You shut down Ripple the Company and XRP will tank to $0.

  • Not scarce, not digital gold. There is a abundance of non-circulating supply, enough supply for the next 100 years. Not only are you getting screwed with supply-dilution. The supply burn is on-paper only.
  • Max supply 100 Billion XRP with the current burn rate http://rippleburnrate.com/ripple-burn-rate
  • Not a single bank is using XRP for remittances.. at this current demand-supply rate.
  • 200.000 XRP are burned every year on average.
  • 20 Million XRP burned in 100 years on average.
  • 200 Million XRP burned in 1000 on average.
  • 55072185766 XRP remaining left to be dumped on noobs and newbies. Hurdurr.. #xrpthestandard.
  • At $1000 per XRP, we’re talking about 44 Trillion in realised cap. (CirculatingSupply + market-price) As of August 5, 2020, there was $1.95 trillion worth of Federal Reserve notes in circulation.

  • XRP has been falsely deceitfully marketed as a security, giving average joe the false impression that they are holding a security ownership (equity) in Ripple the company, the technology. Funny enough…XRP has been promoted as a currency (money) as well by popular crypto youtubers.
  • XRP and Stellar are decentralized remittance indices. A tokenized vehicle for transferring arbitrary value to point A to B… thats it. Just remittance.
  • The remittance model is outdated, irrelevant in this day and age.. DeFi completely destroyed the remittance-model with dapps like dharma.io
  • You can’t compare MONEY with REMITTANCE. The security/consensus model (P.O.W) is backed by Electricity bills, cost of production for Bitcoin, BitcoinCash, Monero, BitcoinSV, Litecoin isn’t $0. A single bitcoin is backed by 4 digits in electricity cost. XRP and XLM are premined for free. Cost of production is zero.

  • Ripple the company is legit, but the XRP tokens they have issued have no proven usage-case. Not a single fortune 500 company is using XRP for remittance. Ripple is paying well-known fortune 500 companies millions of dollars to use Ripplenet, so they brag about ”partnerships” and dump their tokens on gullible normies and goobers like your mom and dad.

  • Even Ripple own director of regulatory relations for Ripple Ryan Zagone denies any connection with XRP. They know damn well that they are selling vaporware. See proof below.

  • The XRP token is nothing more than a ”vehicle” for transferring value from point A to B. The assumption that ”ripple’s partners” buy/invest XRP tokens is deillusional. Ripple makes revenue licensing RippleNet to their business-partners. You see.. Ripple the company pays other companies to use their technology (ripplenet) You’re not required to buy XRP tokens in order to make use of RippleNet. It’s included in the service.

  • Metaphorically speaking. Ripple is a cargoshipping company. RippleNet is cargo-shipping service, XRP-tokens are the cargo-ships.

  • Owning XRP doesn’t give you equity or ownership in Ripple the company or the technology (cRipplenet).
  • XRP can’t scale… the closest thing, we have right now to a fully functioning third gen layer 1 platform that can scale is …….. and it’s competing to become money.

Ripple’s business model is shady. Forbes did a detailed report on their shady business practices.

https://www.forbes.com/sites/jasonbloomberg/2019/03/01/is-ripple-a-scam

You don’t fool me.

Ripple’s Pump And Dump Business Model.

XRP ARMY

XRP ”investors” are all mentally handicapped. Imagine forming a twitter Bitconnect streetgang that attacks anyone who dares to badmouth Bitconnect then up getting pooped on by Bitconnect. The irony!

XRP Brainlet Archive