rektoshi rektamoto’s profile 15
If you are an altcoin moonboy, you will get rekt!
Member since: November 19, 2019
Review Date: November 19, 2019 22:17:29
Everyone has the right to make their own tech project as long as they don't raise money with their coins with public sales and with misleading promises. So far Bitflate doesn't seem to be raising money and they don't seem to make any promises either (and being transparent about the fact that the coin is not secure and not for business applications in its experimental phase). Seems like there is only 1 dev on this project, which has only a little Github activity so far. Basically it's just a bitcoin fork with some tweaks, the most prominent one being the perpetual inflation of ultimately 7% per year (which means that over time, any future Bitflate economy would have to grow at least 7% per year for the prices not to fall). It also means that the supply would double every 10 years; I am afraid this will be a bit too much over the long term tbh for this coin to hold any value. I noticed the dev also posted a review, transparently and identifying himself as such, so all is well on that front. The information is rather limited on a very minimal site, without an elaborate white-paper to make the case for this coin either. Interestingly enough, the founder chose to use the old Dutch guilder logo/sign for his inflationary "stablecoin", however, although the old dutch guilder was indeed a stable currency, its monetary policy in the past was to be as low as possible with inflation. Just a side note. No hard feelings against this project and I wish the founder/dev a lot of fun on their project, but personally I would not ever put any money in it tbh, all well meant intentions of the team aside.
Review Date: November 19, 2019 22:15:14
Giant shit show after the ICO with a CEO going rogue and having a huge fight with the founding team, only to reveal these difficulties after more than 2 months of silence after the ICO. Since then, the project was doomed to fail due to complete chaos in corporate management! By now, a criminal investigation has apparently started into the CEO and it looks like Envion investors might have an opportunity to get part of their investment back, because the founders have started a refund campaign. Of course be extremely careful and do your diligence to find out if that is even legit and be aware that there will likely be scammers posing as the refund campaign managers!
Review Date: November 19, 2019 22:14:01
Admirable that this project is still active! Making very consistent progress and despite the bear market, the project was not left for dead! It has more than long enough track record and with an almost no hype-marketing surrounding the project, I am relatively confident that they are not going exit scam. Not a fan of the project though and I don't think it will have any useful future application, so I wouldn't recommend investing in the coin either, hold on tight to your satoshis!
Review Date: November 19, 2019 20:03:23
Bitcoin (BTC) is about the only legit cryptocurrency out there with some decent future potential. Monero and Zcash do provide some amazing privacy tech that might later be adopted on BTC chain. For some other coins like Ethereum and Litecoin, they are interesting experiments, but in the end, any useful stuff that comes out of those projects will also be adopted on bitcoin, making everything else irrelevant. Stop investing in alts and wasting your time in looking at all these shitcoin projects; just buy bitcoin every week, every month! Everything else that you do, WILL COST YOU MONEY AND YOUR RISK OF LOSING IT ALL WILL ONLY INCREASE: HIGH RISK, LOW REWARD!