Crypto Bear

Crypto Bear’s profile 58

2 years of Bitcoin HODL on the way up and down, now buying the dip. trading altcoins and did ICOs with varying results. Bitcoin and a very small tiny subset of altcoins will eventually make it to the global stage of actual adoption. Choosing between all the legit projects is hard enough, especially if you have to weed through all the scams out there. So let's try to work together and eliminate them as much as we can.

Member since: March 21, 2019

Reviews:


Papercoin

Papercoin

Papercoin - PAPER
Team Quality
Info Quality
Track record

Review Date: October 09, 2019 20:48:04

Just a quick overview of this project: essentially it is nothing more than your average generic ERC20 token, but then a token on the WAVES blockchain. Note that issuing tokens on the WAVES blockchain is even easier and cheaper than it already is on Ethereum. To Papercoin there is not any additional value than anything that WAVES coins already can offer. The whitepaper explains mostly the basics about blockchain and cryptocurrency in general, and has very few comments on what Papercoin is going to offer as value added. It says that is supposed to be a coin for paper, smoking items and tobacco, but it doesn't explain any problems that Papercoin would solve, that wouldn't be solved by any other cryptocurrency (like bitcoin). The whitepaper says that their vision is: "Our vision is to implement sales and shipments of physical and online smoking stores on the blockchain of WAVES." However if we look at the roadmap on the website, not any of those initiatives are featured, only things like website, whitepaper and roadmap updates and exchange listings. They don't even have their own wallet; the wallet they "offer" is just the WAVES wallet on which you can transact with the token. No team, no visible developers, no Github, just a worthless token that aims its poor communication at crypto newbies. There is no sign of an ICO and airdrop tokens are available through a faucet (however apparently it is available on some small exchanges, so people could theoretically fall victim to buy this vaperware token). I have not looked into the airdrops aspect at all, because I don't wanna waste more time on this, and I recommend anyone else to do the same (not financial/investment advice ofcourse as always). Shady as F*** in my opinion!


Perlin

Perlin

Perlin - PERL
Team Quality
Info Quality
Track record

Review Date: August 28, 2019 18:15:42

Yet another Binance IEO and yet another "highly scalable" Proof of Stake smart contract platform. How many thousands of those are we going to get? They claim to be a "leaderless" PoS and become more decentralized, and that they are endorsed by the ICC and more prominent organizations. There are several token sale rounds, mainly seed, private and "strategic"; only less than 9% sold to the public in the IEO. Now I have to admit that I didn't not fully research the project beyond just an overview of the Binance research report. That is because I started reading the whitepaper, but as usual I first read the Introduction and then the Conclusion before reading anything else, but what was written right after the Conclusion in the Acknowledgments was so off putting, that I decided to not read any further and just leave it at that. The sentence that made me really wonder if they are just joking around: "The authors would like to acknowledge Satoshi Nakamoto for his work on Bitcoin, heavily impacting the authors lives from as early as the early 2000s." That just seems totally deceptive to me, even just before that they wrote about bitcoin being in existence about a decade. So I really wonder how Satoshi could possibly have been "impacting" the authors lives from the early 2000s. As suspicious as I am, I will assume the worse, if this blatant "mistake" can exist in the whitepaper while they are raising millions!


TORChain

TORChain

TORChain - TOR
Team Quality
Info Quality
Track record

Review Date: June 25, 2019 20:42:18

I think the review by Crypto Hunter is pretty clear in the verdict. The website and whitepaper exist of nonsensical buzzword soup and really does not make any sense. Somehow they try to make it appear as if they are somehow affiliated with TOR, which obviously is not the case. Ths project doesn't add anything related to privacy whatsoever, it is just a standard ERC20 token, so its "privacy features" are just as hardly pseudonymous as any other ERC20 token. Pure garbage token by scammers with a high degree of certainty. Avoid like the plague!


Enjin Coin

Enjin Coin

Enjin Coin - ENJ
Team Quality
Info Quality
Track record

Review Date: June 14, 2019 13:22:10

Well funded project for gaming industry that has contributed a lot to the ethereum eco system and were behind some new innovations when it comes to unique tokens on the blockchain that could represent gaming items. Also their universal wallet is one of the more reputable. I have no doubts about the sincerity and competence of the team and that they will be very influential in the blockchain based gaming industry. I consider Enjin one of the most legit projects in cryptocurrency (at least up until now, as with everything in crypto, things can change instantly at any time).


Crypto20

Crypto20

Crypto20 - C20
Team Quality
Info Quality
Track record

Review Date: June 14, 2019 13:15:14

The concept of this token is that it is a share in a crypto fund existing of a portfolio of the top 20 coins that is regularly rebalanced, the value of the token should then be near the value of the balance of the portfolio. THrough a smart contract the portfolio value of the token can also be converted in Ether to cash out (keep in mind that the available balance for conversion would be limited, so in case of a "bank run" on the fund, problems for withdrawal might occur). THe team is visible and seems legit so I am confident that it is not their intention to scam their investors, but of course their is risk involved, such as that the team is fully responsible for the security of the portfolio so that is definitely a single point of failure to be aware of. So as long as the team doesn't run away with the funds or get hacked, it should be fine. Good thing is that it is quite the simple way to get in and out of exposure to the complete top 20. No coin is supposed to be more than 10% of the portfolio value, and so be aware that 90% of the pprtfolio is altcoin exposure and only 10% bitcoin. I am confident about the team, but beware of some of the specific risks involved with this token. Alternatively you could get similar results by using HODL bot for example on Binance that will also manage and rebalance a top 20 portfolio automatically, you will have more personal control over the security of your funds (and more responsibility) as long as Binance doesn't go down, besides that, such a bot comes with its own cost as well.


Ravencoin

Ravencoin

Ravencoin - RVN
Team Quality
Info Quality
Track record

Review Date: June 11, 2019 22:34:41

Probably not a scam in my opinion. They even have physical meetups for the project. It is supposed to be a blockchain that can issue asset tokens, based on Bitcoin code. They aim to be ASIC resistant though. Listed on larger exchanges as well. It does seem that in the last few months not much has happened on Github, eventhough prior to that, a lot of activity can be noticed (the lack of recent contributions is giving me some reservations, which makes me less than 100% confident). If I remember correctly, they did a "fair launch" which means no ICO, no pre-mine nor airdrop, just plain old mining from day 1. The team is visible, however the concern is that that also makes the project somewhat vulnerable, because it is quite centralized therefore.


Insane Coin

Insane Coin

Insane Coin - INSN
Team Quality
Info Quality
Track record

Review Date: June 11, 2019 21:33:48

The .com domain is not active anymore, instead they moved to .network. For as far as I can see this project is more of a community thing (similar to Dogecoin) rather than a project that takes itself too seriously. The website makes proper disclaimers that nobody should expect anything from this project and that it is more about people that are "insane" about crypto. They didn't raise any money and they claim that even though they did a premine, all of that was given away. In that sense I expect that this is not going to be any form of exit scam or money grab, however still it is going to be highly experimental. One of their latest projects is an exchange for masternodes, that would enable pooling of masternodes for the smaller masternode *investor*. A couple of things that seem a bit disappointing: the bankrupt exchange Cryptopia is still featured on their website and on the roadmap there is a mention of a storefront in 2018, however it looks like this has not come to fruition yet, at least I couldn't find it.


Runebase

Runebase

Runebase - RUNES
Team Quality
Info Quality
Track record

Review Date: June 06, 2019 21:48:38

Their mining rewards scheme will take 2000 years, which I think is quite remarkable (no judgement about this, it just caught my attention). Seems they are using bitcoin core wallet tech and the Ethereum Virtual MAchine model, with the intend to become a prediction market (like Augur). Their prediction market website does not have any activity yet though. Roadmap exists primarily of exchange and pools listing, not so much for development it seems. I don't see much reason for this project to exist tbh and no real innovation, it is actually just a fork of Qtum (another bitcoin/ethereum merge). Nowhere can I find how this project is supposed to make a difference of any kind. Their "Not a whitepaper" also makes references about price increases for the coin if blockchain becomes popular. One of their sources of funds, is Doge coin donations, not for development, noooo, for exchange listings! I really can't find much of value here, so I am kinda forced to assume the worst. No visible team either it seems and too much shill brigades here among the reviews too.


PTPA Partner

PTPA Partner

PTPA Partner - PRC
Team Quality
Info Quality
Track record

Review Date: June 06, 2019 21:13:13

I wouldn't trust this at all. They only issued some ERC20 token, nothing more. Hard to verify if the company is actually legitimate. I wouldn't risk my money here. The token is supposed to be some sort of security token, however it doesn't seem to have ownership rights nor dividends, only the "right" to purchase stocks if they go to the Russian stock exchange. Website also promises good returns on the token, which is a red flag in and out itself. Oh and not secure website too. I am extremely skeptical!


Five Star Coin Pro

Five Star Coin Pro

Five Star Coin Pro - FSCP
Team Quality
Info Quality
Track record

Review Date: May 29, 2019 18:44:19

Super super super shady ERC20 token, just as the thousands upon thousands of worthless ERC20 token releases on Ethereum. Absolutely zero utility or innovation, just trying to raise money from uneducated investors. Roadmap includes mostly ICO phases, and just mentions so-called very vague projects, that aren't further specified in the whitepaper. According to the website they promise listing on major exchanges, but I wouldn't hold my breathe for that. They say those listings are mentioned in the whitepaper, which is not true. The website and whitepaper and roadmap show 4 ICO rounds, all to be concluded in 2018, however the website still allows to buy ICO tokens and that the ICO is still open. Currently 21 token holders and the top wallet (presumably from the team), still has more than 98% of tokens, so fortunately they have not been very successful in getting their hands on other people's money, let's keep it that way!


TokenPay

TokenPay

TokenPay - TPAY
Team Quality
Info Quality
Track record

Review Date: April 17, 2019 07:11:07

Certain facts presented by Tone Vays are definitely making this project look very bad and the TPAY exposure website adds a lot to that, but I am still having a hard time believing that Charlie Lee would be backing a project that really is as fraudulent as they make it seem to be. Without Charlie Lee involved in that partnership I would certainly vote very shady on this project, but now I will have to give them some benefit of the doubt, although please note that I give this benefit hesitantly. 


Ormeus Coin

Ormeus Coin

Ormeus Coin - ORME
Team Quality
Info Quality
Track record

Review Date: April 13, 2019 04:05:59

I couldn't agree more with the previous review: red flags all over the place! And they seem to be running a multilevel marketing program, although this is not clearly to see from the website. Smokes and mirrors marketing to promote some useless ERC20 token ponzi and pyramid.


Tritanium

Tritanium

Tritanium - TTNZ
Team Quality
Info Quality
Track record

Review Date: April 13, 2019 03:48:22

This looks super suspicious to me. 


  • very little github activity to backup the magnitude of what the project claims to be.
  • traceability blockchain is somehow presented as something unique to Tritanium, though they admit this is already an inherent property of Bitcoin. Explanation seems to suggest that this is primarily supposed to be a corporate permissioned blockchain, which means that it would make little sense to do such a thing on a public blockchain with some token attached to it. Enterprises can find much better and more efficient solutions for this with existing enterprise private blockchain solutions. 
  • About page shows for description the "lorum epsilum" text
  • Team members social media profile links return to about page (links are not existent)
  • Blog articles by "John Doe", last articles published in May 2018
  • There WAS an ICO for ERC20 token which is supposed to have been converted to the native coin on their own blockchain. https://medium.com/@mdashikmia/tritanium-token-ttnz-total-ttnz-token-to-be-minted-250-million-250-000-000-b6ce51b4cf4e
  • Where to buy? Website show: exchanges coming soon. No exchanges yet, although a bitcointalk post from April 12 that the first exchange listing is tomorrow (April 13) on txbit.io.
  • Apparently from time to time they update their bitcointalk thread and there should be an active Discord channel. Their Telegram channel is abandoned and I don't see much other social media representation.
I do not have confidence at all in this project.


Kin

Kin

Kin - KIN
Team Quality
Info Quality
Track record

Review Date: April 13, 2019 03:12:48

Update: After all pretty disappointed in what recently has come out about KIN and shows once again how suspicious everyone should be about any crypto token project, even if it looks totally legit. Even though I am not much in favor of regulators like the SEC sticking their noses into crypto affairs, still I can't really blame the SEC for taking a stance here. Companies that knowingly and willingly are acting in bad faith, should certainly face consequences. Thanks KIN for setting a bad precedent for crypto. Adjusting my vote down. ICO performed by the KIK social media app. Their KIN token is supposed to be integrated in the KIK eco system to spark more crypto adoption by leveraging the millions of KIK users. The ICO raised close to $100 million which is a substantial war chest, but they failed to reach their $125 million target. A large part of the fundraise was contributed by large investors in a pre-sale. Token has been underperforming ever since, except from the late 2017 altcoin rally. Currently it is still an ERC20 token, but they are scheduled to migrate to their native blockchain, for which ERC20 token holders will need to do a swap, preferably before end of May 2019 from what I read. Github shows decent activity (in terms of quantity, did not look at quality). Team is public and and legit. Without going into details on the merits of the KIN project, I have little reason to suspect this project to be a blatant scam, sure I could find points of criticism, but overall this project seems to lean to not shady at all (at least not by average crypto standards). 


Nollya Coin

Nollya Coin

Nollya Coin - NLYA
Team Quality
Info Quality
Track record

Review Date: April 04, 2019 09:43:16

Big nothing erc20 token! Very young project so very little information available to work with. Github account opened like last month, so nothing much to say about that. Project claims to be the solution for the unbanked in south america. Not any information is provided on how this standard ERC20 token is supposed to be uniquely positioned to achieve that noble mission.


No whitepaper: if you click on the whitepaper link, you will be just redirected to the homepage. 

"Our services" lists nothing more than what every erc20 token inherently can do by itself.

"Our benefits": scalable, flexible and usable are also just buzz words with not any substance. "Big rewards for merchants" is presented as "zero cost transactions" (which is somewhat deceptive and again refers to an inherent characteristic of erc20 tokens. Further they claim 30 million potential customers in South America, without any explanation on where those customers are supposed to come from. 

Airdrop token and they seem to be doing an ICO later this year. Yet according to their own writing the token is already tradable via Coinjar and forkdelta, which seems odd for a project that is still going to do an ICO.

Long story short: this looks like one of the thousands cash grab erc20 tokens that try to bank on unknowledgeable people. The project doesn't seem to be planning to provide any substantial value that would be represented with the token, so paying money for this token doesn't seem the best decision.


PrimeStone

PrimeStone

PrimeStone - PSC
Team Quality
Info Quality
Track record

Review Date: April 04, 2019 09:06:09

Not a big fan of their logo, which doesn't seem very professional and might invoke the wrong sentiments about its legitimacy. Whitepaper seems fairly decent and so is the information about the project. There is some pre mining so that is a small negative, however it appears that the project is suffering from underfunding (so we can't yet say the premine was a cash grab) and their ambitions seem very high with them wanting to become also an ICO platform, user friendly token issuing and late down on the roadmap even a coin exchange that will enable paying with their coin anywhere, because their in-app exchange would convert their token to fiat for those transactions. Github shows at least recent activity, though the general activity is quite low on average. Still I can't really identify straight forward red flags so far, so let's give them the benefit of the doubt when it comes to confidence. Not giving any predictions on the merits of this project in terms of future viability, but at least I do not believe this is a scam waiting to exit. On the other hand don't be surprised of this project just fades away in oblivion if it doesn't get enough traction within a reasonable amount of time.


Cardonio

Cardonio

Cardonio - CFGT
Team Quality
Info Quality
Track record

Review Date: April 02, 2019 05:22:01

Oh yes, this very much looks like your 13 in a dozen scam coin. I looked in their Telegram and indeed no admins, people shilling and calling it out as a scam. Not sure how many people have actually invested in this, but doesn't look like they will see their money back. This project should be used as a showcase example for newbies so they see what type of projects to avoid!


Harmony Coin

Harmony Coin

Harmony Coin - HMC
Team Quality
Info Quality
Track record

Review Date: March 24, 2019 01:10:45

No whitepaper, blockexplorer seems unavailable, no visible/public team, no bitcointalk forum, not any social media for that matter (site gives you just homepage links to social media platforms), github not updated since 2 years (hard to find the github account btw). It is totally unclear if this was an ICO or a fork, because there is literally no other information than the website, that gives little information to begin with. Complete vaporware coin that I think is already completely dead. On CMC we can see a sudden dump around mid Sep 2018 https://coinmarketcap.com/currencies/harmonycoin-hmc/#charts, maybe there was a news event, or the exit occurred; I wasn't able to find the information though. 


Oh I just noticed that there is also another Harmony coin with HMY as ticker, this seems to be a different coin, so you might wanna be careful which one is which.


EndoX

EndoX

EndoX - EDX
Team Quality
Info Quality
Track record

Review Date: March 21, 2019 06:14:11

No whitepaper, very simple website with hardly any more information about what this project actually tries to achieve and what the role for the coin might be in that dynamic. It is supposed to become an blockchain based operating system that will be more secure than Linux and as user friendly as Apple Mac. How are they going to achieve this, hard to find out! No ICO though, no apparent other form of fundraising. But coins are going to be swapped from another (useless) project apparently. Looks like a waste of time and resources to be mining this or keeping a masternodes, which seem the only things that can be done with this. Because there is no apparent fundraise, I am not going to rate this too negatively either. 


BravoCoin

BravoCoin

BravoCoin - BRAVO
Team Quality
Info Quality
Track record

Review Date: March 21, 2019 05:36:02

Based on Steem and also a DPOS consensus algorithm. Is actually a blockchain version of Yelp. The question is: why does a review site needs to be protected by a blockchain, why does it need to be censorship resistant, which on the website is clearly stated as one of the advantages of the platform? However no explanation given for why that is. And speaking of such: where is the whitepaper or any other form of information that will better explain this project and the coin's purpose, because that doesn't seem to exist? Nice to give away the money that you created yourself out of thin air, but what gives the coin value? We can't really determine that, without knowing the basic mechanics behind the project and the tokenomics. 


They did not do an ICO and for as far as I can tell, no pre mine or anything, so that is all positive, but we would need to know what's in it for the team, how are they gonna benefit from this project? Many questions unanswered, so at this point I will just have to assume that this project might have noble goals, but they are essentially a Yelp competitor trying to force blockchain and a coin into the project in order to seem innovative somehow. And of course, having free money to hand out can be quite convenient too. 

I can't confidently identify if they are purposefully misleading or scamming investors or not, so I will give them some benefit of the doubt.

NB: please be aware that there are even shadier Bravocoin offerings floating around, notably one on bravocoin.io. So be careful, because those are completely different projects and like I said maybe a lot more shady.


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