Crypto Anonymous

"Crypto Anonymous" 171 review

Member since: October 17, 2018

Biography:
Bitcoin HODL-er since 1992 and not planning to sell before the price hits $10 trillion!


Dai - DAI

The ERC20 token stable coin that is governed by the Maker DAO project, the Maker token is the coin used for governance of the stable price of DAI against the dollar. 1 DAI is supposed to be worth $1 without the backing of actual dollars. Backing is achieved with the staking of Ethereum in smart contracts through a complicated process that involves some kind of arbitrage. Very successful project as a whole in the Ethereum eco-system that deserves a lot of credits. Large trading volumes and the DAI has been surprisingly successful in keeping a relatively stable value near $1, even when the bear market battle tested the token, while the value of Ether was dropping. I have no doubt this project is totally legit and brings very valuable results from their experimentations in real life decentralized finance.

review Dai
Elite Coin - 1337

this coin has a trading volume of about $100, yet a marketcap of over $1 million, so for those speculators should probably pay attention if the trading volume justifies such market value. But I will leave conclusions about that for anyone's own research. No whitepaper and no visible team, which normally would be red flags, however considering this coin already exists something like 5 years (correct me if I am wrong) and is still actively supported by its community, I will give it some benefit of the doubt on that point. If I am correct this project has no ICO and no funding and the pre mine, they claim is for giving away and promotion. I can understand why transactions are fast, because practically all blocks are empty, plus Proof of Stake nature of mining allows for easier scaling and considering that no critical infrastructure is built on this blockchain, security doesn't have to be the highest priority. Games can be bought from their webshop, where you can pay with Elite coin only (formerly 1337, which is still its ticker). I don't know about the quality of the games that they develop themselves where Elite should also be the in-game currency (inter-exchangeable between other games), but I hope their website is not an indication of the quality of their game developers. For example take a look at the coinmarketcap widget in the top right corner of the website: clearly their design has improvement points. Overall looking at this project as an outsider I don't get the feeling it is an outright scam, but only interesting for those that are part of the community. The coin has had some pump and dumps but keep in mind that this is due to low liquidity. last pump in May19 was at a volume of $1200. So if you would be betting on selling in one of those pumps, you might have a hard time achieving that. I see plusses and minusses with this coin, so I am going to give this one a neutral vote. I am not overly excited nor do I think it's a scam (like I already said).

review Elite Coin
0x - ZRX

This must be one of the most legit ERC20 token protocol projects out there. The team is developing a protocol that can be used for launching decentralized exchanges in the Ethereum blockchain. Working product that already has already processed large sums of money. Disclosure: i do not own any ZRX at time of writing this nor have I plans in the short term to purchase any either. Real team, real project, real product with real innovation, fundamental to the DeFi (decentralized finance) eco system. The 0x protocol could eventually work on the backend of universal wallets to exchange any token into any other token for Dapp access without a user even knowing what is happening under the hood in a token economy where 1000s of Dapps have their own utility/access token. This is just 1 aspect of the entire project that I wanted to highlight.

review 0x
Bulwark - BWK

Reasonably confident that this privacy coin is likely not a scam. They even appear to have won some contest for Masternode coins, or at least turned out as one of the better ones on several aspects. Development looks promising and the team is building different hardware solutions as well for improving user privacy by incorporating TOR in their tech for example. They also have some sort of online shop where you buy online services such as domain names, email hosting etc., and alongside normal currencies, BWK is also one of the currency payment options. I could not identify any substantial or particular red flags.

review Bulwark
Bloc.money - BLOC

Yet another cryptocurrency project that claims to be better than bitcoin. It is also a privacy coin, that is using tech from Cryptonote. They did not do an ICO and one of the co founders wrote a post saying that he was particularly disappointed in a project that according to his description has to be Electroneum. That aside they claim to be better than all the ICO's by not doing an ICO, however, they did a 10% pre mine, which is most definitely a red flag according to general crypto standards. They claim to be developing several projects around the Bloc currency, but it seems many of those are already late in road map delivery. Then I will quote a couple of posts from different profiles on their bitcointalk channel that seems to coincide with the observation: "SHITCOIN DEV VERY SILENCE VERY SLOW SHIT PROJECT DONT CARE DUMP EVERY DAY" "Do NOT expect much. It's just a turtlecoin fork ,but with 10% pre-mined for dump." "is the project dead?" "looks like it is dead." Github only shows recent tiny activity last month, with all prior activity stopping at 6 months ago. It would very much surprise me if this project turns out not to be dead after all, but, hey, anything is possible in crypto! For the time being I will pass on the "opportunity".

review Bloc.money
Sperocoin - SPERO

The purpose for which this coin of Brazilian origin claims to be invented for, is already been invented by 100s of other coins and frankly does not bring any innovation in that regard. The website tries to convince people that this coin is inherently built to solve poverty, well its properties don't do that any better than for example bitcoin already can. Their other claim is that they are ecologically sustainable because they use PoS mining, which is not unique at all either. Yet they still continue to use PoW as well. Looking at Github, there hasn't been any meaningful development for a long time. Social media presence is very limited and very low following. Only available on a small number of tiny, shady exchanges and very low trading volume.

review Sperocoin
Tangle - TGL

Why the odd name that doesn't have anything to do with its usecase in any shape or form, but also has a very clear other meaning in crypto space (for example IOTA's Tangle). Yes, listed developers are active on github, but not particularly yet on the Tangle project (yet). The fact that they only allocated 10% of the supply and claim that they won't be paying out salaries to the team from the ICO funds at least make it appear that it wouldn't be a money grab. Well, let's see how that will turn out. I couldn't find anything particularly suspicious about this project, so I am going to rate this cautiously with a degree of confidence until proven otherwise (innocent until proven guilty). My gut feeling is just a bit uncomfortable when looking at it as a whole, after seeing so many crypto projects in so many years, I can't help being a little skeptical. Hopefully the team will prove to be as legit as they want us to believe.

review Tangle
Elitetreum - ELT

Update: seems OD Capital (promoted through YMCI) is a confirmed ponzi. Thai police has arrested and issued arrest warrants against suspects tied to this organization, read this article and it is clear that you might wanna think twice before getting involved in this mess: http://www.nationmultimedia.com/detail/national/30352051.

My cousin's girl friend was involved in the YMCI (formerly known as SMCI), so I have seen first hand some of their promotional material, and it is 100% Multi Level Marketing/ pyramid scheme, who are perpetually launching one HYIP (ponzis) after another it seems. They are very sophisticated in making them look like a super legit company. Primarily operating in Asia, where the general population is less financially educated and therefore easier to deceive. 

One prominent example: They were promoting GMCI shares (back then listed on the Nasdaq OTC Pinksheets market (where all risky, shady stocks are listed)). They were selling shares of this company as a major investment holding company and make it look as if their portfolio existed of many different successful companies. However SEC filing reports would show that the only company GMCI owned was a mining company with large debts, zero mining activity, not even having any mining claims (existing mining claims were expired). It also turned out that in 2016, despite their claims of being such a huge company to potential retail investors, the revenue was literally zero! Yet, while the stock was still trading OTC, there was hardly any trading volume, many days no trading, or in the couple of $100's till occasionally a few $1000. Still, the market cap based on the traded prices was about $700 million. Very shady practices if you read through their company filings. Because they were late with their SEC filings at some point, they got temporarily suspended. Afterwards they decided to revoke their OTC listing and therefore were not required to file publicly with the SEC anymore. Investors were able to purchase these shares "pre-IPO" (they claimed to be listed on the NASDAQ main exchange by 2018, which was then postponed to 2019), for a rising price between $0.50 up to $1 (par value of each share $0.001), which looked like a discount from the traded price (when it was still listed) of around $2.50-3.00. If you bought more shares, you would end up higher in the pyramid reward program for higher commissions and more levels pay out. There is much more to tell from what I was able to find out, but I just wanted to give a short impression. And it seems that they are still promoting new "investment opportunities". 

Yup, if Elitetreum is promoted by this organization, I do not have to research it any further, because I already don't trust them one single bit AND their nature as a Pyramid scheme is the major red flag no-go zone! Please be aware.

review Elitetreum
EverGreenCoin - EGC

They do not seem to be misleading investors in any form and as long as you consider this a community coin to incentivize charity without profit expectations, I don't see much of a problem with it. I also don't see reasons to not trust this foundation to actually employ the intended funds indeed for charity. 

review EverGreenCoin
Everex - EVX

They seem to be a legit company that is supposed to be a sort of Paypal for the unbanked by utilizing blockchain for remittances and microlending. Although more coins/tokens often claim they solve the remittance issue by just launching a cryptocurrency that should be the solution in and out of itself, at least Everex seems to be building a system of remittances by using e-money tokens that are (let's assume their claim is real) backed by actual fiat currency deposits. This usecase does however entirely depend on the Everex company as a centralized entity to be successful, so the token does not represent a decentralized value proposition. so investors need to be aware of that. 


Also, although the e-fiat tokens can be used for remittances, the EVX token doesn't play a direct role in this, unless fees are charged (one of the usecases for EVX is requirement for payment for services on the platform). 

The other primary usecase for EVX is sort of a credit scoring system for people holding EVX (a higher balance plays a part for a higher credit score for the micro lending platform).

The company has recently signed an agreement with a Thai Bank for a remittance service with Myanmar, which certainly helps the case for legitimacy (if the Thai bank did its due diligence).

Seems the company has also contributed to the Ethereum eco system with their own blockexplorer Ethplorer.io which is being used by other crypto platforms on Ethereum as well.

Binance research did recently publish a relatively positive report on Everex, and even though that is no guarantee at all, at least we may assume some due diligence in researching the project has gone into this report, which does add to the credibility.

To summarize: eventhough I believe in the legitimacy of the company, services and the team, the usecases and value proposition seem to be a bit disappointing from an investor point of view, so I think that is where the project/team is definitely lacking and I can't therefore put a 100% confidence unfortunately.

review Everex
TopTen - TPT

I don't trust this at all. Seems like team is trying to leverage the blockchain cryptocurrency hype to launch a token for a project that doesn't seem to need any blockchain or cryptocurrency (top 10 list site), because first and foremost it also doesn't seem to need some of the primary aspects of the technology (censorship resistance, unconfiscatability, immutability, etc). As no further information is available, I am unaware if they have been trying to raise funds from crypto investors somehow to get their project off the ground, which would make my view even worse. So in my personal estimation this project is leaning shady under the information available at time of writing. 

review TopTen
OLXA - OLXA

Be very cautious with this coin. Apart from issuing the ERC20 token there has been no innovative development anymore on the cryptocurrency. Only accomplishment apparently is the admycash platform that doesn't seem to be needing a token at all (but only for that at least they have been delivering more than most of these types of shady projects). Whitepaper explanation about solving double spending problem is laughable and clearly intended to mislead uninformed readers. Claim of being a private and anonymous cryptocurrency is honestly just completely irresponsible and dangerous + the (poor) pseudonymous feature has nothing to do with the project itself but is inherent to Ethereum; and even bitcoin achieves more pseudonimity than Ethereum AND is a more secure network as a bonus. 92% of supply is held by 1 address. Don't be naive and think twice,thrice before handing out your money to people that are deceiving you. These types of bogus cryptocurrencies are just bad for the reputation of legit projects, because people are going out there promoting these crap coins to the outside world, which will not leave a favorable experience for them. So kudos for the team to deliver an unrelated to OLXA token utility with admycash (but as per what was mentioned by someone else about what kind of crypto business users will be promoting through that platform, one should be very cautious not to be promoting scams unknowingly), but the amount of misrepresentation and red flags are just too overwhelming. 


And don't forget the usual red flag of falsely promising VISA cards! 

2 reasons that I just nearly not give them the worst available rating:

  1. I don't expect the team to actually exit scam, however my expectation is that the cryptocurrency part of this project is going to die a slow death and a lot of everyone's time and energy wasted on a completely pointless initiative based on false premises. 
  2. at least delivering some kind of working product (even though it is as good as totally unrelated to the token's utility)

review OLXA
Wixlar - WIX

Part of the team is some entity called "Cash Global Marketing", which name only should already raise the highest suspicion, well and indeed, if you click on their link http://cashglobalmarketing.com you will be directed to a "parked for free" page. If I look at the sum total of this page, my first feeling is that this project is secretly being used to sell some pyramid scheme, although I couldn't find direct evidence (yet). Great marketeers and the buzz words are all over the place. 


Let's take a look at Github: In April 2018 a few contributions made for ERC20 token ICO, then nothing until late Sept till early Nov, where minimal activity took place, followed by no development whatsoever up until writing this review.  

review Wixlar
Tratin - TRAT

Github shows you that there were 14 contributions last year (between Aug and Oct), 7 months with no contributions at all. The only released code is less than 150 lines nothing more than a standard ERC20 token smart contract. Hopefully the ICO didn't raise too much money because this is vaporware, guaranteed to lose your money in!

review Tratin
Dropil - DROP

I do agree that indeed the only aspect that would warrant for caution would be the DEX trading bot, other offered services seem reasonably legit and real. I do have some concerns:

  • basically the whole project is not open source and there is also no real proof of the AI trading bot actually existing, by default this is suspicious. I do like that there are no investment packages and users essentially keep most of the control over their coins, withdrawal anytime from the "bot wallet". However, ofcourse this is only possible AS LONG AS the website is online, so the exit scam risk is still there. They do not have an affiliate program either (since after ICO), which makes them certainly look less scammy, but also limits their marketing range, because there are not enough incentives to promote their services by the community.
  • the team doesn't seem capable to properly position and promote their service for what they claim to be an opportunity that no one should want to pass on. This is also very visible in the lack of traction for the token trading volume and price; 96% down from ATH. Price now is bouncing a lot near its bottom price. 
  • Lack of focus of the team may be at cause here (even though they have been ongoing with developing new services), because the same team prominent members have founded another token project/ICO around KYC. Now this doesn't have to be shady in and out itself, but certainly doesn't make them seem very focussed on the success of DROP, which needs a great deal more of attention.
  • Eventhough the transparently published locked token addresses (50% of founders token allocation) are indeed intact, still the token holders have been burdened with quite a significant dilution of 25% increase of circulating supply in the last year, so tokens are being brought into circulation at the expense of existing token holders (by a higher inflation rate). So it looks like the team and founders have sold all their unlocked tokens and have completely cashed out with exception of the unlocked tokens (that have depreciated in value 90-95% since the early days). If this really was a successfully promoted and performing service, the price and volume of the token should somehow reflect this, despite the bear market. Team is underperforming on this aspect, and it certainly looks like they cashed out significantly and moved most of their attention to somewhere else (next project).

review Dropil
BravoCoin - BRAVO

I wish there was a whitepaper to explain why a restaurant review site needs censorship resistance? Maybe this website has great utility and if they are really good they might take on the competition with Tripadvisor or Yelp, but I don't see any usecase for the cryptocurrency attached to it, other than reward points that you get on many community/forum/review sites (including cryptocanary). So where why would anyone want to buy this coin? how does a coin holder benefit from the success of the service? These questions are hard to answer because the project doesn't provide transaparency about the project's eco system and the role of its coin. We don't even know anything about supply, distribution, inflation, etc. Not even a blockexplorer. Is there even a blockchain or is it just a regular database on a centralized server? No apparent fund raising and virtually no one can buy the token anyway, so small change anyone would be able to lose money by investing in this, because that would require quite an effort (at least for now until they get listed on more mainstream exchanges)

review BravoCoin
Doubly -

Hey Hey Heeeeeyyy! We got another one: Bitconnect 2019! Technically this is not a coin (oddly enough, because usually all these have their coin as well, but I hope the admins will approve this anyway, because the word needs to get out). Has all the same red flags as Bitconnect, promising even higher "guaranteed payouts" than Bitconnect, of course with absolutely no risk and money back guarantee:

  • Multilevel affiliate program, for direct referrals you will get 15% of deposits of new customers (this means the new user starts off with 85% of their deposit per definition)
  • The usual investment packages that you will give the daily guaranteed profits generated by this amazing "AI trading bot" (don't believe those who say they have an AI trading bot, because anyone who has a profitable AI trading bot will keep it a secret)......this has all the hallmarks of your average ponzi; unproven trading bot that can generate guaranteed daily profits, yeah sure!
  • The leadership team comes with profile pics, BUT don't appear to have LinkedIN, CEO only has Telegram and email and the other to executives only email
Currently they are still paying out apparently, as they all do in the first phase to gain credibility. Of course inevitably there comes the moment where the ponzi collapses and they exit scam. I do not trust this one singly bit and neither should you! Red flags in crypto is NO GO by default! 

Read this article to learn more: https://u.today/crypto-scam-suspected-new-website-could-be-fraud-since-it-daily-pays-out-4x-more-than-bitconnect

review Doubly
Help The Homeless Coin - HTH

This seems either a well intended but failing project due to lack of interest of the audience or a project that was trying to bank on the charitable character of a great part of human society. After all, who can criticize noble initiatives? Well, in crypto unfortunately this is a must. Why in the world does this project need a coin, instead people can just donate bitcoin, there doesn't seem to be any use for the coin except mining and masternodes. Apart from a 15% block rewards taxation that goes to charity, there is also a 10% block rewards taxation that goes to the devs. They claim there is no pre-mine though (contrary to what a previous reviewer suspects), so if there appears to be a pre mine after all, then that could be a huge red flag, but as said, so far there seems to be no indication of a (secret) pre mine.


My critical vote is towards the uncompleted or not updated Q4 2018 roadmap, which included the whitepaper, which still doesn't seem to be available indeed, which under normal circumstances is a huge red flag! 

review Help The Homeless Coin
Triwer - TRW

I don't know what happened to this project, little to be found about its destiny. At best it has just died, at worst it was an exit scam. Website doesn't exist anymore, social media abandoned (TG account doesn't exist anymore either) since summer 2018 and Github not updated since a year and only contained the ERC20 token contract. Looks a lot like they just issued a token, made some marketing material, did the ICO and then abandoned the ship. According to one of the ICO tracking websites I found that they raised around $5 million. Makes you fear the worst for the investors' money. Does anyone has a clue what happened with this project? For now I am just gonna assume the worst.

review Triwer
Slicecoin - SLC

1 person project opened like a week ago (social media and github launched as recently as that). No information available on the website except social media accounts (with few following so far). It is supposed to be a mineable (Qubit) community coin and you can mine through a couple of pools apparently. It is based on litecoin code (so in that sense it seems to be a fork) which according to the github page has many improvements on the LTC code, whatever those might be. So far no sign of innovation and it aims to be exactly what coins like litecoin and bitcoin aim to be: 


From Github: "Slice is an experimental digital currency that enables instant payments to anyone, anywhere in the world. Slice uses peer-to-peer technology to operate with no central authority: managing transactions and issuing money are carried out collectively by the network." So what is so special about this project, well, not so much, so it seems.

So basically this is mostly a guy printing his own money and getting other people to try to give it value. It is however not an ico, and it looks like only obtainable by mining. I haven't been able (didn't actually tried either) to find if it has a pre mine. 

The only reason that I only rate this as kinda neutral, is because of the fact that in the bitcointalk forum page the founder clearly states that "this coin won't make you rich". That disclaimer is at least transparent.

review Slicecoin
ARBITRAGE - ARB

Yet another typical ponzi arbitrage trading bot with coin attached to it. 0.7% monthly payout promise and your typical red flag under the category "if it sounds too good to be true, it is probably not true." Exit scam in progress probably. Payments started out rock solid to give the platform credibility. Of course there is no proof of the bot working; there is "proof" provided by the team, but that is highly circumstantial. However as per usual the signals of an exit in progress are there also: "ddos attack" (platform down), restricted payouts and from what I understand many users are unable to withdraw anything. This video gives a pretty good insight of what is going on: https://youtu.be/_JUs-ndhVys

review ARBITRAGE
CryptoLux - CLX

Cookie cutter ponzi/MLM bitconnect imitator. It may be a russian platform, the founder, sole owner and sole director is a Robert Alexander as shown in the incorporation filing in British chamber of commerce. 


This program has:
  • the usual investment packages
  • trading bot/system that delivers the monthly profits; up to even 45% per month (yeah right) with the help of the usual "AI based crypto trading systems".
  • focus on profits that can be made, even shows messages of each time someone has invested.
  • Representatives can get a "downline" of other referring members and they mention that you have an "upline" (as per any MLM/pyramid structure)
This smells an awful lot like the usual ponzi that will collapse/shut down/exit scam at any given moment. As per the inherent structure of ponzi schemes, the blockchain verifiable payouts that are shown on the website are not any proof that it isn't a ponzi, payouts in a ponzi are used to give the scheme credibility. As long as more money comes in than goes out, the ponzi engine is running. To ensure that ratio of in and outflow in favor of inflow, reinvestments of earned profits are highly encouraged, so the money stays in the system, but it does only virtually. The fact they use a token on the blockchain doesn't change that at all. 

review CryptoLux
RxSmartCoffee - RXSC

Huge red flag: this project smells like a pyramid scheme. It has already some of the tell tale signs on the website, where special cure all health benefits are assigned to the coffee products they sell in combination with video testimonials of people who suffered from all kinds of health issues that disappeared thanks to this coffee. This is template MLM offering. And a quick google search brings you to this page where the MLM is clear, because you can earn commissions on distributors that you sponsor. http://www.familybiz.rxsmartcoffee.com/opportunity.aspx


Now this in and out itself has nothing to do with crypto or blockchain, but they have added it to their existing program apparently somehow. ICO gave you the RXSC token issued on waves platform (one of the easiest and cheapest platforms to issue tokens on) and the token according to the whitepaper has no single other purpose than a payments token that bitcoin, waves, ethereum could do just as well. The whitepaper also mentions another Dibcoin for which even less explanation is provided. Seems nothing more than a marketing gimmick and moneygrab by this company. 

As with every MLM associated projects: this is no-go area and this non blockchain/crypto project that quite certainly doesn't even have any significant industry know how, would be safer to be avoided. You will not get rich quick, rather broke even faster!

review RxSmartCoffee
BOMB - BOMB

I think there is a lot more to criticize this project on in terms of its merits rather than if it is shady or not. Considering the focus this reviewing platform I will only look at its trustworthiness. It seems this team is quite upfront about their intentions and that is a social experiment. They are clear that they don't aim to be a transactional currency, but rather focus on store of value. They don't promise high profits and didn't do an ico, instead giveaway all coins. Interesting concept that they try to experiment with a true deflationary currency, because 1% of coins is burned of each transaction. They seemed to have developed a passionate community around the project. However that is not yet reflected in trading volume on the only decentralized exchange (DDEX) that they are listed on.


However there are just a few minor points that I think are a bit disappointing:
- no technical whitepaper available: but they claim that other things are more important than a fancy worded whitepaper (which is an argument that could be defended)
- although they didn't ICO or fundraise, they do have allocated themselves 10% of initial supply, which means they do try to print their own money.

The last point is the only real criticism that I have towards the project in terms of shadiness. However the value proposition of this token is a whole other discussion that I think any investor should look at with a lot of scrutiny. I do not personally see any value nor purpose with this token other than a fun project and social experiment, but who knows, Dodgecoin also became quite a valuable project despite it being a joke/meme coin, partly because of the strong community behind it. But once again that is another discussion.

review BOMB
NovaChain - NOVA

First red flag: Arbitragebot!!! Come on people, anyone that has an active working arbitrage bot is not gonna share it with the public because profits that the edge the bot would have, would instantly disappear. Any sight that offers an arbitrage bot is just using that as disguise of their ponzi-like scam. Ofcourse there is never any LIVE proof given of such a bot actually existing and doing what it promises to do. 


Also, site includes "profits calculator" that are always designed to play on unsophisticated investor's greed and nothing else. Token is forcefully used as an excuse that it is needed to run the bot, but obviously that concept is very vague and we couldn't find the explanation, because the whitepaper is absent. Token is only available on their internal platform and on a shady exchange that has many more shady coins/tokens available. 

Please people wisen up and don't give your hard earned money to scammers!!

review NovaChain
OneCoin - ONE

And for those that still aren't convinced, there have been recent developments with regards to One Coin: FBI has arrested one of the ringleaders recently. Apparently One coin didn't even bother to launch an actual blockchain or even an ERC20 token, instead they just used an SQL, so much for the "revolutionary" cryptocurrency. Even Bitconnect at least had their own blockchain (I believe).


Article about FBI arresting ring leader: https://www.ccn.com/fbi-nabs-onecoin-ringleader-at-lax-as-massive-crypto-scam-unravels

review OneCoin
Topinvestmentcoin - TICO

Ayayayay, this should be called "Nigerian Prince Coin" lol! Whitepaper is an absolute joke! They are essentially selling Ethereum as a wonderful solution and then conflate their ERC20 token as a natural success because of Ethereum's success somehowm but nothing about what actual benefit the token brings. I managed to find this of very few sentences that are actually about TICO coin: "With Topinvestmentcoin you will have access to marketplace to ask&bid including the mobile staking wallet which gives you 3% monthly for every investor." No actual value to be found here people!


Another hilarious segment of the whitepaper: 
"challenges. People recognizing the value of cryptocurrency technology and joining the cryptocurrency ecosystem
widely recognize the drawbacks surrounding the existing monetary system and stable currency.
These drawbacks include the increase likelihood of fluctuations in the value of their wealth in the real-world currency. While these fluctuations are
typically small when compared to cryptocurrency they are still worth noting. For instance, a stable currency like USD is subject to devaluation due to
economic inflation whereas, cryptocurrency continue to mitigate issues surrounding stability of value."

Fair enough, in above example, one could argue that in many countries the fiat currencies are in fact failing due to hyperinflation, like in Venezuela and Zimbabwe the value of the fiat currencies is dropping harder than bitcoin has and thus from that perspective, bitcoin is in fact much stabler store of value. HOWEVER, they then give the USD as an example of those unstable fiat currencies compared to the "much stabler" cryptocurrencies. Still, this part of the whitepaper is just discussing cryptocurrency in general, the part that "discusses" TICO is only: token ICO details, very short roadmap, team (pictures of 3 team members with names, I would be very surprised if those lead to actual identities involved with the project), so not any information on what TICO's role in the cryptocurrency/Ethereum eco system is going to play.

Website(s) are "under construction", so perhaps they are updating????

ICO investors get only 20% of supply (team 10%) while 65% is reserved for "investment", which means an enormous amount of dilution is ahead. 

review Topinvestmentcoin
Edcash - EDC

Zero innovation on this Brazilian copycat of the already questionable Bitcoin Green project (Green Protocol). Even the Readme text is precisely the same as for EDCash as it is for the Green Protocol. Team consists of 3 people according to the website, that are completely anonymous (only avatars). Team is 1 business manager (description: "public relations) and 2 developers, also without background information at all. 


Seems like worthless vaporware to me, trying to bank somehow on Brazilian speaking population. I don't trust this at all!

review Edcash
EOSBet - BET

At first glance this seems pretty solid and innovative project with a promising future looking at the license and popularity (biggest dapp ever in usage and volume apparently). Also it seems to introduce radical fairness to betting by an innovation where the user him/herselve generates the seed for randomness apparently. I do have to state some reservations because of the following observations that may or may not have any significance, but at least raised my eye brows more than just a little: 

  • Link to medium account is broken (return error: suspended???)
  • No Github updates since Aug 2018
  • They got hacked and EOS got stolen in Sep 2018, article here.
  • Whitepaper seems unavailable, therefore difficult to establish whether acquiring BET tokens actually give a good ROI, not enough details available on website
  • Couldn't find any team details
  • This article also sheds some light on potential red flags

review EOSBet
Nasgo - NSG

Pure pyramid and ponzi scheme scam! There seems to have been an ICO, but that was done in secrecy so it seems, so there is no definitive proof of that. Will summarize the red flags soon. I would rate this as "Shady AF" if I could, but that rating tier doesn't exist, so I have to go with the milder "Super Shady". Pay attention, the actual pyramid/ponzi activity is done through Sharenode (with their own internal SNP token, not exchange listed). Eventhough Nasgo (NSG) is technically listed on Bitforex, it doesn't appear (yet) on CMC. 


As a side note, the general consensus in repsonsible cryptocurrency communities is that every project that utilizes pyramid scheme sales structures are all scams and should be avoided. And if it looks like a ponzi, smells like a ponzi, walks like a ponzi......it should be avoided too. 

Nasgo claims to be the "Godaddy" of blockchain and makes investors believe they will take over a $1 trillion market. Noobs are supposed to sell their expensive packages which include a sidechain on Nasgo to small and medium sized businesses for prices between like $1000 up to $2000 (in the Sharenode program, for which you get only hot air in return). Hopefully not too many will actually start doing that, because it will give our industry a pretty bad name (maybe even more than we already have). Notably Michael Jackson's nephew is endorsing this project.

I will just summarize the main red flags and leave you with some additional resources that should fill in the blanks further. Nasgo/Sharenodes red flags:

  1. In their presentation (done by co founder Eric Tibbett), they already claim that they are going to take over a trillion dollar market, which would result in a 1000-1600x gain of the NSG token. Such bold price predictions are one of the biggest red flags.
  2. They made it seem as if they are going to have a Super Bowl sponsorship, a promoter even announced that, turned out that they were only having a VIP room, paid by token investors one could only imagine. No ads, no sponsorships, just visiting the Super Bowl.
  3. They announced exclusive agreements with the Cambodian government (who has banned crypto altogether) and the Chinese government. Apart from Nasgo, nowhere is any information to be found, so one can only be suspicious, otherwise this would have been all over crypto news.
  4. They are selling through a pyramid scheme (Sharenode). The founders have backgrounds in the MLM industry apparently
  5. Github link not to be found, the one that is on the explorer site, leads you back to the explorer. When you go to their account directly on Github, you will find they published their stuff more than 8 months ago and since then no activity in development whatsoever.
  6. their reddit account (still featured on the nasgo website) is banned.
  7. On their Twitter appeared pictures of their co-founder Eric Tibbett with Larry King, claiming to have had an interview with him that should be aired March 1, 2019. Interestingly enough, a fake Larry Kind account is tagged in the Nasgo Tweet announcing the interview. Don't be surprised if no interview with Larry King will ever appear!
  8. Details of their compensation plan are kept very hush hush and is invite only.
  9. As mentioned: the Sharenode tokens are not traded on any public exchange (only internally) and there is no value of that token publicly available. Earned commission can however be reinvested in those Sharenode tokens (maybe indeed better described as "ponzi points") for a nice bonus in those tokens, and thus closing the ponzi loop.
Like the author of the "BehindMLM" articles already describes, this scam is just one cease and desist order away from being shut down. Be careful and do not put your money and reputation on the line by associating yourself with these scammers! Looking at their material and social media I can only say that I thought that even Bitconnect had a better professional representation. This Nasgo is just a low budget scam with a few lower tier MLM guys trying to fake it until they (probably never) make it. 

Here are the links, inlcuding a review video that very well lays down the scam case:

review Nasgo
Beam - BEAM

I do have high hopes for MimbleWimble and I do believe that this team can generally be considered not be scammers. I understand that a team needs some form of funding somehow, but the 20% taxation on mining rewards model is generally seen as a sin in crypto ethics and I would side with that. 

review Beam
Bitcoiin - B2G

Oh boy do I have a gem of a scam for you here: BITCOIIN, yes you read that right, these mf-ers were banking on the name bitcoin with double "i", clearly trying to deceive people by using this name. 


Allegedly this ICO was promoted by means of a pyramid scheme and they did receive a cease and desist order already in March 2018. Notably Steven Seagal endorsed this scam coin! All of this has already been confirmed in the media and the team has already exited. The implementation is simply a copy of Ethereum (they even have 0x... addresses) and an Ethereum wallet. It therefore uses accounts in stead of Bitcoin's UTXO model and is therefore even less anonymous than bitcoin already is. After creating the blockchain and the wallet, no further development on Github; dead coin! 

Surprisingly early 2019 it got listed on CMC because it is being traded on some shady exchanges and it did a nice pump and dump. Unbelievable for a coin that is already so long a confirmed exit scam. The anonymous team premined all the 50 million coins and it was supposed to be a PoW mineable coin (which is why it is called a 2nd generation blockchain according to the whitepaper, reflected in its ticker B2G, which is a blatant misrepresentation obviously). The website is still online, because it contains a link where you can purchase mining for B2G which leads you to Dragon Mining cloudmining website where you buy pretty expensive mining packages, so BUYER BEWARE, don't fall for this obvious scam!! 

Even BITCONNECT is less shady than this one! Link to Coindesk article about this: https://www.coindesk.com/steven-seagal-bitcoiin-founders-exit-ico-ends

Marketcap is surprisingly enough still worth $17million, but on a volume of $660k I wouldn't take that valuation very seriously. I posted this eventhough it was a confirmed scam like 1 year ago, but since its recent CMC and exchanges listing it has come back into the public domain, so we need to make unexperienced investors aware of this. Pure exit scam, but apparently ongoing money grab, leaching on ignorant investors, no innovation whatsoever, we could even say the worst of bitcoin and ethereum in one useless blockchain (more or less).

review Bitcoiin
ClearPoll - POLL

I am going to second the previous review, however I am going to double down on it by giving it a tier worse rating because I just read that ClearPoll will be part of the JOHN MCAFEE 2020 presidential campaign!!! Yes, you did read that right! What a way to spend your ICO funds/tokens! They say it is to gain exposure for ClearPoll token through the presidential campaign, but I have serious reservations around this whole idea! Or am i being too suspicious?

review ClearPoll
DeepBrain Chain - DBC

Chinese AI project on NEO blockchain that is allegedly implicitly backed by the chinese government. Couldn't find much that is negative about the project, except maybe this post on r/cryptocurrency that is quite technical:  https://www.reddit.com/r/CryptoCurrency/comments/7od7vg/deep_brain_chain_dbc_is_vaporware_and_heres_why/


 A lot of the criticism in that post was however nuanced in updates of the post, admitted by the author. 

Another pain point, although not related to the project itself, might be the fact that it is very low ranked on Coinmarketcap and has a relatively low volume. High risk should be assumed from an investor perspective. Things that I do like are the coinmetrics from the ICO: hardcap was "only" $12m, which wasn't excessive compared to many other ICOs. 

A relatively small percentage of coins went to the team (10%) and 50% of total supply will be generated by mining. Transparency and a long period of unlocking team and foundation tokens: 10% per year over 10 years (predictable inflation) - source: whitepaper. 

It makes the project seem more legit because of a less greedy approach in the ICO. So eventhough I have some reservations on the matter if this is a good investment with a reasonable profit expectation, I do not think that this is an outright scam. Before really investing in this project I think it is really important to be able to really understand the technical implications of this project before you can make a justifiable investment decision on a fundamental basis.

review DeepBrain Chain
Divi - Divi

The more I look at this the more shady I think it is. Red flags all over, marketing gimmicks, focus on making money, subscription for masternodes, and looking at the storm of reviews here, brigades of shillers that come to the rescue immediately (usually that smells fishy to me). Also, any coin that claims to become a worldwide adopted currency, but has a CEO, is almost by default not going to be successful. A Youtuber that i kinda think is reasonably credible said that he has met members from the team in person at some conference, so at least there are real people, so I don't think it is an exit scam or anything, just your average money grab. Bag holders, I'm afraid it is time to realize the harsh reality: this coin is not likely to go anywhere, not enough traction, not enough innovation, just vaporware.

review Divi
Ethos - ETHOS

I do believe this project in and out itself is fairly legit and even though it might be controversial if the wallet is as secure as claimed, mobile wallet security in general is very deemed very controversial all around, so as long as they are at least as safe as most other wallets, I'd say it must be a reasonable product, no criticism there! The only thing I have some concerns about is the actual related token: I have still to find out where its value comes from, what its actual usecase is in relation to the wallet that justifies its existence. After all, they did raise a lot of money in return for those tokens. Not saying that the token is shady, but I think it is wise for every investor to clearly find out where the value of this token is supposed to come from before considering buying it as an investment.

review Ethos
BitTorrent - BTT

Well if only whales get burned by this latest Justin Sun money grab. I wouldn't mind it so much, but unfortunately also average retail investors can be this token on the market from the whales. I was disappointed they did an ICO for this; if they wanted to use a fair token reward system, they should have airdropped it. Imo this is a stab in the back for TRX holders. Not sure about the eventual token utility or if it could have any meaningful future value to consider investing in it regardless of its inception, but the pile of red flags make it really hard to trust this.

review BitTorrent
Dignity - DIG

This is actually a confirmed scam with 99% probability. This project was supposed to be backed by gold and have its own mining operation. Founders even suggested that they knew Satoshi and were actively in contact with him! Top directors have been involved with brokers that have received penalties for violations by FINRA. Lots of promises; no delivery. Very elaborated scam! They were able to fool Ronnie Moas into believing and endorsing the project! Ronnie Moas is an influencer and reputable analyst that has appeared on TV often. Recently he has called out DIG as a scam and is in the process of trying to get the ringleaders punished by legal action. On his Twitter is a lot of his research available.

review Dignity
Litecoin Cash - LCC

Sorry but this looks totally like somebody printing their own money by doing a hardfork on LTC just like Bitcoin Cash did on BTC, hitch-hiking on the name and reputation of Litecoin. It smells like garbage on all sides, so I wouldn’t touch it with a 5 feet pole. Please people, don’t fall for these obvious scams and shitcoins, get-rich-quick schemes usually turn out to be get-poor-quicker, so don’t waste money and time on this crap; focus on high profile quality projects only!

review Litecoin Cash
Credits - CS

This project was initially highly criticized by Ivanontech because of its lack of transparency in publishing the source code on Github, which increased the potential of it being a supershady project. As of recently Ivan seemed to have been more favorable (less unfavorable) towards the project, because he even did a (sponsored) tutorial about coding on the project. He did say that he thought the transparency had improved, though not optimal yet. I would therefore go with a 50/50 on this project. It is centralized as hell though, so buyer beware, then again, which of 99,9% of all crypto coins/tokens isn’t completely centralized?

review Credits
Steem - STEEM

Fuel to power the steemit network. I know many are very skeptical towards Dan Larimer’s projects, especially the latest EOS, but I think with Steemit he built a solid decentralized blogging platform with a cryptocurrency rewards element. It is unfortunate that nowadays it will be hard to earn a substantial amount on the platform from content creation. Another criticism is that Dan always leaves his projects to start another; but the fact the founder is not in charge anymore and stays afloat anyway, the decentralized nature in terms of leadership is achieved as well. Not sure if it is the best investment as of right now, but I do believe the Steem project has brought a valuable contribution to the cryptocurrency and blockchain space. I believe this project is far from shady imho.

review Steem
TenX - PAY

This was a very successful and promising ICO back in 2017 that got off a decent start, partly fueled by the 2017 bull run and ICO madness. The team, with Julian Hosp as visible leader of the project, always seemed serious and genuine in their efforts to become a successful crypto business. One of their key features was a VISA card that could be loaded with crypto balances. They actually shipped a lot of cards that have been used by many clients. However the project got into trouble when their card provider was ordered to stop services for European clients and their cards project grinded to a halt which was a major setback. They then pursued a banking license to become a crypto bank, but unfortunately I don’t know how that turned out or how far this process is. The project fell more and more into the background and likewise the TenX token fell lower and lower on Coinmarketcap. The token was supposed to be used for fees for transaction that are done using their services and I believe a profit sharing was part of the deal for token holders. Personally I don’t believe TenX is a shady project; I do believe they genuinely try/tried to make it successful, however I worry that it might be a dying project nevertheless.

review TenX
Monetha - MTH

I tried to participate in their ICO, which was hyped AF that time. Almost nobody was able to send their Ether to participate and it was sold out in minutes because of the huge gas war as well and they didn’t seem to care that smaller investors didn’t have a chance. I perceived it as a big money grab. After all I was happy I couldn’t participate because the token did absolutely nothing but tanking after listing on exchange(s). Every once in a while I check to see if there is progress and I can’t really notice anything of substance. ICO was 1.5 years ago; Monetha what’s up?

review Monetha
Envion - EVN

After seeing and hearing the story from both sides in the conflict, it seems one of both (founders or CEO) have been trying to hijack the project for their own benefit. First of all tokens were still being sold eventhough the ICO already had ended, which was shady in and out of itself already. Then right after the ICO process was concluded, nobody heard from the team anymore for months, until the internal dispute was announced. Anyway still no mining units in operation and token holders are not receiving any benefits from their investment that went from a $1 ICO price to $0.04 currently.

review Envion
Verge - XVG

Endlessly postponed the Wraith Protocol, which has also been very controversial if it adds even anything substantial as they hyped it. They tried to raise funds from their coin holders for a huge announcement that would only go through if they reached a certain amount: that appeared to be the Pornhub partnership. Also they suffered a 51% attack 3 times. Seems a shady, unprofessional project and far from a secure store of value. Has also been through multiple epic pump&dump cycles

review Verge
Electroneum - ETN

I don't see value added in this project. Enormous shillers community. They copy/pasted Monero code to launch this cryptocurrency and then forgot to take out a bug that was in the original code. So on the tech side not much going for. On the promotional side: claiming mobile mining with your mobile device, while in fact your wallet doesn't do any mining; it is just a "mining experience"; in fact coins are just airdropped; which seems fair enough as distribution method, but then promoting it as mining seems a bit sketchy. Useless, unnecessary vaporware for people that "missed the boat" with bitcoin and ethereum and now hope to get rich quick with this. Oh and did I mention that it seems completely centralized, as it is a registered company.

review Electroneum
Bitcoin Cash - BCH

I agree with the previous review. I do believe that the majority of people behind Bitcoin Cash are not intentionally trying to scam people because they genuinely believe that BCH represents real Bitcoin. They have of course the right to believe that. Problem is indeed if they use shady tactics to convince newbies that bitcoin cash is the real bitcoin and trick them into buying. So in this case I would highly recommend: buyer beware!! And do a ton of research on both coins (BTC and BCH) to form your own opinion about both coins.

review Bitcoin Cash
Tether - USDT

Indeed there is no proof at all that circulating tokens are fully backed by USD and thus the fractional reserve banking theory Tether is accused of can't be debunked so far. The mere fact that they aren't able/willing to provide an official audit despite their promise to do so, makes it all the more suspicious. It has been the only functioning stablecoin for the longest time though and due to its liquidity quite useful and convenient on most exchanges. But because there is practically no way of cashing out USDT tokens at Tether for regular users, a real bank run seems quite impossible. The market price could however completely implode and we already have seen the first crack in its reputation with the recent Tether crash where it lost its dollar peg for quite some time and has a hard time to recover. I would only use USDT if I absolutely had to and for the shortest amount of time have funds in it. There are other stablecoins available now if you wanna store against USD value for a bit longer.

review Tether
EOS - EOS

Highly controversial project within the cryptospace. Dan Larimer's reputation because of Steem has given him a good amount of credibility. The amount of money they raised through the ICO seems beyond any reason though and there seems to be a lot to be fixed on the tech side as well as the governance side. This is either the most overpriced software of all time, the biggest crypto heist of all time or (if all current issues are being resolved) it turns out to be a new force in the crypto space. I am personally 90% confident that this is not an intentional scam, but that doesn't mean it couldn't fail either.

review EOS
Ripple - XRP

Company that launched a centralized digital currency XRP as a project that has nothing to do with decentralized cryptocurrencies. They are potentially even guilty of selling unregistered securities to fund their business and used hype marketing to pump up the price beyond all reason. They frequently conflate Ripple company's achievements that have nothing to do with the digital token XRP in order to push up the token price. Ladies and gentlemen, this is your anti-cryptocurrency with a centralized company that conducts shady business practices.

review Ripple
TRON - TRX

Uses deceitful marketing techniques and tries to overhype prices in order to lure uneducated retail investors. Don't know much about the technical side of this project, which could perhaps give it some legitimacy, but as far as I'm concerned, completely disqualifying based on marketing tricks.

review TRON
Dogecoin - DOGE

This coin has such a long track record and acceptance in the broader crypto community and being part of the early beginnings of crypto, that even though it might have started out as a joke (of which everybody was fully aware), it has certainly reached a level of legitimacy, at least far more than 95% of all other coins!

review Dogecoin

Questions or suggestions?