Just checked website and project and my observation is.
1.
White Paper: On Medium article they have clearly mentioned about idea and working so not sure why white paper required
2.
Contract Code: Verified contract code and I found that no involvement of tokens at all. Generally in Ponzi schemes contract owner increase count of tokens and withdraw ethereum on behalf of that tokens. That risk not present here. Owner can only earn when he will invest and receive dividend because same solidity functions he has to call for investment and withdrawal which users has to call. All programming functions look good for me as solidity developer.
3.
Roadmap: Project is already ready. I can see verified contract code available in etherscan with few investment. So not sure why roadmap required for completed project.
4.
Team: Verified photos of team members uploaded on website using "google reverse image search" and no matching entries means photo not taken from internet. May be that's valid team.
5.
Early investor gain: Yes agree because in such project if you are early investor or if you have capacity to hold then its win win situation but if you want immediate income in same day then it will difficult. May be ethereum you have invested will be double if they will get 10-20 more investor/withdrawal after your investment. This is little safe compared to option trading where you will get double in same day. Please refer BitMex for option trading which is high risky.
** Invest with your own research
** If interested to invest don't waste time as early investor or holders increased money x times in such project
** Referral program is attractive if you don't want to invest. Check that.
Website: https://www.ethereumtree.comArchived:
Click here Profile link: https://bitcointalk.org/index.php?topic=5109741.msg49731597#msg49731597Archived:
http://archive.is/id7xv What happened: Ponzi Scheme & no whitepaper, roadmap.
Ethereum Tree name look like scammy to me. I can't see any whitepaper and road map on thier website.
However they have explained clearly how they will distribute profit and its
obvious ponzi scheme.Let's check on their website,
There is more clear explanation on their ANN thread. I will quote the part of distribution.
Description: In above image Ethereum Tree has 3 existing members (1, 2 and 3) with holdings 1ETH, 2ETH and 1 ETH respectively.
When new investor joins the system directly and invest 10 ETH to the system, 10% of his investment (1 ETH) will be deducted as a network fee and is available for distribution to current members of the system based on percentage of total holdings each individual member has in his/her wallet. So Distribution amount will divided into 3 existing members as below:
Member 1 will get 1ETH * %of total holding in his/her wallet = 1ETH * 25% = 0.25 ETH
Member 2 will get 1ETH * %of total holding in his/her wallet = 1ETH * 50% = 0.50 ETH
Member 3 will get 1ETH * %of total holding in his/her wallet = 1ETH * 25% = 0.25 ETH
So, Member 2 in our case will get more profit as he/she is holding greater portion of the System holdings.
So is it not clear ponzi scheme ? All ponzi scheme have turned into scam eventually. So stay away from them.
