Bitcoin Forum

The pirate coin arrr is it a scam?

Not yet a scam and you can see that this token is still getting traded on so many good tier exchange sites https://coinmarketcap.com/currencies/pirate-chain/markets/

It was actively giving update to the weekly progress and recently pirate chain was also mentioning about the security audit and that means if the developers has a serious intention to develop the platform and make it free from the bug.

This is not yet a scam project dude but it may become a scam project when there's a bad behavior from the developers

No

Why should it be scam? Any explain? Or just baseless FUD?


It is a good privacy project taking advantage from wild sea (and privacy). Behind Pirate Chain, very experienced devs are developing it.

Where is the fud? I was only asking

According to my research about it at the coinmarketcap, its volume was more than 1M$ in which I think for me it's not that bad at all.
But the only thing I became curious now is that does this Pirate chain has an exchange, if there is what platform anyway? I think I like to
invest in it.

yup through coingeco as well it has 1M$ volume so probably it not fake., and as i visit their site that pirate coin is available to trade in 15 different exchanges, here's the  list  (https://pirate.black/exchanges/).
For me in my personal opinion this project is good but when it comes to those exchanges,  seems some of them have issues that still unsolved, i don't want to mention name but i suggest make research first because it's for you to find out.

They do it for the booty, arr!
On a serious note, no it's not a scam per say, but to me it fits the meme coin narrative.

Yes, it's true what's happening now, but projects that focus on privacy will not last long, and if privacy violates the rules, they will be scammed automatically, and their social network will be invalid when privacy is happening in the market.
and the pirate chain is not a scam, because with the existence of a pirate chain in the crypto market, there will be a new economic body in the crypto market.

This is actually my first time to hear about Pirate Chain and I must probably been living in a cave for the past few weeks to have not encountered any reading material published on this project. And based on the many comments here, I myself would say that this platform and the people it can be serious in developing the project and they are always in communication with the community it has built. As for me, knowing that the people manning the project can be real and if I can sense that they are really serious of what they are doing, then it can be worth supporting. And of course, I am wishing that the project stays on course.

I haven't heard of this coin before. Do you think its a scam/shit coin? You probably have done your research. There are so many privacy based coins now, all of them are almost identical or offers something very shitty or nothing new at all. If that is the case, then highly likely its a scam/shitty coin. Don't invest if your gut feeling says its going to die.
Others that are saying it has high volume, you guys do know that volumes can be manipulated, right?

ARRR is high privacy driven token and as, at the time of making the post, the price of pirate chain token is $2.30 with its market volume and activities one could say the pirate chain is a legit project, unless otherwise but you will need to carry out your research about the token and don’t rely on others’ opinion.

No it is not a scam. It is a privacy oriented coin with a hint of meme attached to it. As it is a memecoin you could expect its price to fluctuate similar to Dogecoin where you can expect it to rise if it gets popular in the minds of people or you could expect it to drop off just like how it happened a week before. Nothing is certain about it in the long run. So DYOR before you invest.

Because it has to be provided any explain why it is linked to scam?

It is like when I ask someone is liar? Proof needs to be presented.

I don’t consider it to be a scam as scam means that devs are dishonest and want to do a runner with all money, but they support communication, I mean interacting with the community, so I don’t think that they are scammers.
In terms of investing in it, I am not sure about this. This project’s idea is privacy, but considering Monero, privacy is not a priority today.

I don't dare say that coin arrr is a scam, not because we can't analyze the coin, but rather material evidence that we can't fulfill, it's natural for everyone to say something coin is a scam, but must go through the evidence that is offered.

In my opinion, if we say coin arrr is a scam, then we must be able to present strong analysis or evidence, if we can't present this, then the discussion about coins is not based on facts. It's actually not good for us to keep talking about it, I guess.

Actually you don't understand what a scam coin looks like, or you already have the coin, usually scam coins don't have a clear distribution pattern and often use fake addresses to be promoted in various media.

Roughly that simple thing has been fulfilled on the coin you mean scam. If not, then we can't say this coin is a scam or it could be that a potential scam is very likely, but only at the stage of suspicion.

It's a token on Komodo blockchain that doesn't do anything that Komodo doesn't already do. At least Ethereum tokens like 0xMR have super powers above and beyond with Ethereum can do on its own due to the EVM.

Pirate Chain have their own blockchain.
Even Pirate Chain will be having a halving at the end of this month and trading volume is increasing, Probably due to the approaching halving.
Pirate Chain has been on the exchange since 2019, Until now it is still surviving and the price of their coin is growing. I hope you are not asking if this coin is a scam or not because you bought it at the highest price and now the price is falling.

Drawing data from coinmarketcap, as of today the price is $3.70 with a market cap of $656,293,289 while the 24 hr trading volume is $2,443,889, therefore with such data I don't think it is a scam. Also, it is a sort of privacy coin which claims to be unique and can't experience 51% attack.
Well, I don't know what type of coin you are looking for, but for top exchanges like Kucoin and Gate to list it, at least it shows it is not a scam, nevertheless depending on what you want to achieve, if it is a long term holding or not, you will have to check out the team and how best they are in tune with their roadmap, this will give you an idea of what to expect at least and if your investment will be worth it at the end.

Piratechain is just a token like ERC20s on Ethereum- https://capital.com/pirate-chain-arrr-price-prediction-is-the-coin-a-buy-now I sold my ARRR for 0xMR

I can't think of anyone jumping to conclusions too quickly about the coin, how to analyze the coin is a scam, do we know the current process of the coin. There are doubts in every post that people share, I don't know what the purpose of the post is.

Try visiting their original page/web, see how far this level of speculation is true. Otherwise, we always suspect other coins and keep saying that it is a scam.

This is completely incorrect. If you had done even the slightest bit of research, you'd see that it is an independent blockchain. Sadly, what I think you're attempting to do is FUD.

If people are interested to do proper research, check out the website, github and discord. There is a thriving community.

https://pirate.black
https://github.com/PirateNetwork/pirate
https://discord.gg/Cah2Yfcv6r


Edit:

For those interested to know, it is a 100% private send currency using Zcash's zksnark technology. It was created in a fair launch fashion by the Komodo developers. I invite you to do a bit more reading if you're interested in private cryptocurrencies, it is definitely up there.

Coinmarketcap does not offer scam detective services they are a exchange if people are buying or selling it that does not mean it is not a scam or is not going to turn into a scam.

i agree and for sure when there's an issue occurred in some projects within coinmarketcap maybe they will immediately put a red flag in it like what they're doing when there's a notice for community. for examples if there's an upcoming events. As the matter of fact like what i saw previously because of hacking issues which they put notice above the name of the project to inform everyone to swap their tokein as soon as possible to avoid being hack . So maybe they will do the same thing or delisted the project after the notice.

We cannot say it is scam but Too much sell pressure from The sellers and the Investment groups keeping the price down. Its coinmarketcap listed and we know that coinmarketcap never list scam projects.

Best answer in this thread.  Thanks for offering concrete info and links to further information.

Coinmarketcap is not a filter to defend against scams.  It is a simple listing/information service.  They list thousands of coins/tokens, some of which are outright scams and many of which will fail over time.

Doesn't seem like a scam, arrr has been listed on a number of crypto exchanges, unlike other major cryptocurrencies, cannot be directly purchased with fiat money.
However, you can still easily buy these coins by first buying Bitcoin from any fiat-to-crypto exchange and then transferring to an exchange that offers to trade these coins.

Thank you :) It's a pitty most people won't allocate a minute or two to inform themselves before writing some arbitrary uninformed comment on threads like these. Even worse is when people believe these comments at face value and act upon it. I understand that there is so much information out there that it because quite difficult to conduct proper research, which is why I prefer to provide further reading material and links for those to do their own research. I also encourage people finding other independent ways of researching projects.

I don't really think so, it has a $600M market cap on https://coinmarketcap.com/currencies/pirate-chain/ and as you can see on the market that it was listed on big exchange like KuCoin and Gate.io. I think the OP didn't mean to accuse it as a scam but asking if it was a scam.

This coin had a lot of hype on social media a few years ago. I don't know if it was just paid shills or people who were genuine supporters of this project. I haven't heard to much about it recently but the price has pumped from 5 cents to more than $3 in the past year. It probably benefited from the meme coin hype but this is not sustainable price growth and isn't something I see as a long term investment opportunity.

No! I don't think so. You probably don't know that it was launched in 2018 and the team is still active as they recently listed their token on kucoin (on June 22, 2021)

From my point of view kucoin is a good exchange which often lists only good projects.

But it should also be remembered that they do not think twice before delisting.
If the kucoin team don't get the trading volume as per their requirement, they could delist it any time

Anyway,
If you want to know more about the pirate coin, then here is it's the announcement thread link: https://bitcointalk.org/index.php?topic=4979549.0

The link I provided shows an infograph in which Pirate is a child token of Komodo. Piratechain is a pump and dump project hyped by DollarVigilante. They tried to pump Wownero and nobody bought it so they started promoting Piratechain instead. Most Monero are paid shills from their pump and dump group too. if you buy Monero, Piratechain, or Wownero prepare to be dumped on by DollarVigilante.

Therefore it is not so important for us to do this research, let the actual situation happen to run itself, if indeed we do not hold the coin, this will only be a waste of time for us.

anyways to analyze a coin that is a scam, it will not affect the token to change, what we do now will only make our minds turn to them, even though there are still many other things we have to do.

I also don't agree that the pirate coin is a scam project, because the pirate coin team is still actively developing the project. This means that
the pirate coin will still grow and the price may also continue to rise, which convinces me that the pirate coin is a real project, because pirate coins
are listed on several popular exchanges, this also proves that we can use pirate coins for short-term trades. But for long-term investment
I don't recommend it, the risk is quite high for holding pirate coins in the long term.

If that's what you think, you'll be surprised to know that it is not a child token of Komodo at all. As I stated (and I implore you to read from numerous sources I and others have posted), it is an independent blockchain. This is verifiable by the fact that is it's own blockchain, it has it's own miners, with it's own blocks, with it's own transactions, of it's own coin, ARRR. If you knew the slightest about blockchain technology this wouldn't be a surprise.

I provide this rhetoric merely for others to understand then facts and help them conduct their own research. I am not discussing your opinions on the latter part of your text.

the pirate chain is still very proven to still have high trust and listing on a kucoin exchange from where did you get the information that this project is a scam. is still being traded on a large exchange the pirate chain project has high trust in investors, the volume is also quite high, this proves that this project is still running well and has a good vision and mission.

I think this project is fine, some projects work slowly, it also suffers from it and it is listed on kucoin exchange will be a good project. And not every coin performs in the bull run. There are some coins that perform after the bull run and we can call them long race horses. And maybe that's one of those plans.