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1  Alternate cryptocurrencies / Altcoin Discussion / Re: ENVION FRAUD on: December 16, 2017, 06:00:28 AM
Envion is a TOTAL scam...

Here are the reasons:
1) The container is supposed to contain something like a hundred or more miners. Now, each miner is generally around 1K of Watts, so we'd be looking at about 100K of Watts in a space the size of a closet. By comparison, if you plug in a 100W bulb into a socket in a medium size room, the room will get warm within an hour. A closet would get uncomfortably warm after about 15 minutes if there was a 100W bulb turned on. But we are talking here not a 100W bulb, but about ONE THOUSAND 100W bulbs!!!! The freaking container would simply melt! OK, so the sly dogs come up with some revolutionary cooling technology that nobody heard about and they show little plastic elbows sticking out of the container... C'mon guys! How stupid do you think we are?

2) They are using a full fledged desktop Mac inside the container to manage the miners... Really? Why on earth would anyone spend 3-5X as much as a simple Linux laptop on a stupid computer to manage miners? Not to mention the fact that the Mac would invariably topple on its way to the solar plant.

3) The satelite antenna on top of the container -- it looks as silly as the one Buzz Aldrin used when he went to the moon and drove around in that ridiculous lunar vehicle (yeah, right!)

4) The white paper is pure nonsense. The nadir of stupidity they try to cram into investors' heads is the "schematic" of a custom-designed circuit (as they call them PCBs, or Printed Circuit Boards) responsible for some magic (Firgure 9 on page 29). Alas, the board looks NOTHING like a circuit board. Also, they don't explain why would ANYONE go to the lengths of designing a circuit board when a simple software solution can be had for a fraction of the cost!

5) The CEO of Envion is seen in a YouTube interview standing against a sign that reads "Frankfurt Burse" -- why is he at the Burse?Huh (Unless, of course, as someone else already suggested, he's standing against a green wall...

6) The expected returns on investments are stated as if they were given, outside of any conditions. SERIOUSLY? Any serious company seeking funds would hedge such speculations with a 10 thousand word safe harbour statement, effectively eliminating any hope of such returns.

7) They show ZERO respect for the investors' intelligence. Consider the following mumbo-jumbo (on page 51 of the white-paper): "The Ornstein–
Uhlenbeck process was proposed by Uhlenbeck and Ornstein in 1930 and is an adaption
of Brownian Motion, which models the movement of a free particle through liquid and was
first developed by Albert Einstein. It satisfies the stochastic differential equation,
dX(t) = θ(μ − X(t)) dt + σ dB(t)
where B(t) is standard Brownian Motion, θ > 0 is the rate of mean reversion, μ is the
equilibrium level and σ > 0 is the average magnitude of the random fluctuations that are
modelled as Brownian motions. This gives the following prognosis for a ETH/USD price
chart (which, naturally, does not account for externalities, and is therefore not to be seen as
a binding statement)."

C'mon dudes!

Cool The entire premise is suggested as follows: the cost of electricity varies from place to place and from time to time. Here's an excerpt: "California. On a sunny spring day, the state produces so much solar energy that utility companies have to give away gigawatts of solar power, even paying neighboring states to accept it." Therefore, we'll create thousands (if not hundreds of thousands) of MMUs (Mobile Mining Units) and move them around the world between the spots with the absolutely cheapest elctric power.... Today we mine in Chile, tomorrow in California, and on Tuesday in Sahara! Because hauling all this equipment is so much cheaper than spending an extra cent on elctric power in the same spot.

OK, the list goes on and on. If anyone is stupid to believe in this scam... well, it's his or her money! Go ahead and give these scam artists some dough -- maybe they'll come back and entertain us with even more ridiculous projects with catchy names like ENVION, that is crafted to instill a desire for envious technology and profits.


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