[SCAM ALERT] Elastic Project - The Decentralized Supercomputer

[-Greed-]

I found out that Elastic is a scam. Why?

Anon dev (no dev team) - check
Scammers always find some reasons not to disclose real names. No real persons = 99% scam.  PRO TIP: never deal with devs that don't have working history or at least verifiable public profiles (facebook/linkedin/ect).

Bought account - check
If you read old messages you'll find that they are completely different from what the OP's posting now. Btw, it's a new trend scammers no longer use newbie accounts so always double check accounts with history.

No code snippets or videos - check
Scammers can never provide any proofs like a demo or a working prototype, or at least code snippets or videos of the product.

Self-mod topic - check
Scammers don't like any critics and are never open to a free discussion because they are afraid of their scam will get exposed. Also, the dev removed my message where I was requesting screenshots.

Far from reality - check
Scammers always do unrealistic goals like creating a decentralized supercomputer with a minimum budget of 100 BTC and one-man dev team.

Also, scammers are almost always in a hurry. (not this one)

I've been on this forum for a while and participated in many IPOs/crowdsales and got some experience. And according to that experience I can sadly say Elastic is a scam with 99.(9)% probability.

[-Greed-]

The removed message:

Anon devs ain't good at all...
If a beta is expected before summer 2016 (it was even said 'much earlier') then there should already be a demo or a working prototype. So devs could you provide us some screenshots or a video?
Btw, the dev is using bitmixer. It's another thing that points on a scam.

My scam-o-meter (experience) says Elastic is a scam.

[DecentralizeEconomics]

Self-mod topic - check
Scammers don't like any critics and are never open to a free discussion because they are afraid of their scam will get exposed. Also, the dev removed my message where I was requesting screenshots.

Truth right here.

[CryptoAddict]

rofl, checked his posts and Lannister is a hardcore believer that the earth is flat, not round.

[themasknetwork]

I found out that Elastic is a scam. Why?

Anon dev (no dev team) - check
Scammers always find some reasons not to disclose real names. No real persons = 99% scam.  PRO TIP: never deal with devs that don't have working history or at least verifiable public profiles (facebook/linkedin/ect).

Bought account - check
If you read old messages you'll find that they are completely different from what the OP's posting now. Btw, it's a new trend scammers no longer use newbie accounts so always double check accounts with history.

No code snippets or videos - check
Scammers can never provide any proofs like a demo or a working prototype, or at least code snippets or videos of the product.

Self-mod topic - check
Scammers don't like any critics and are never open to a free discussion because they are afraid of their scam will get exposed. Also, the dev removed my message where I was requesting screenshots.

Far from reality - check
Scammers always do unrealistic goals like creating a decentralized supercomputer with a minimum budget of 100 BTC and one-man dev team.

Also, scammers are almost always in a hurry. (not this one)

I've been on this forum for a while and participated in many IPOs/crowdsales and got some experience. And according to that experience I can sadly say Elastic is a scam with 99.(9)% probability.

Anon dev (no dev team) - This forum was created by an anonymous developer called Satoshi Nakamoto

Bought account - i agree

No code snippets or videos - i agree

Self-mod topic - Lately, there is no other way to maintain a civilized language in a thread. Unmoderated threads are full of people screaming "you are a scammer" with zero evidence.

Far from reality - Scammers always do unrealistic goals like creating a decentralized supercomputer with a minimum budget of 100 BTC and one-man dev team.

A one man dev-team created Bitcoin.
A one man dev-team created Linux (Linus Torvalds)
A one man dev-team created gcc and emacs (Richard M. Stallman)
A one man dev-team created the first mac (Steve Wozniak)
.
.
.
.

[-Greed-]

@Greed, I have left you a negative red feedback. Me and a few others here spend a lot of time working on different aspects of this coin because we are all fascinated by the concept.

Yes I'm sure you have put a lot of time and money on this scam.

The verifiable computation part is not yet there, but its still plenty of time until the scheduled launch.

Yes plenty of time! The whole fucking 2 months to create a decentralized supercomputer!

If you had spent more than 10 seconds in the thread you would have found tons of screenshots.

No code snippets or videos - i agree

Small correction: We have multiple screenshots posted in the thread, along with multiple links to Github repositories in which the development takes place.
Just because the OP says that it is so, doesn't mean that this is true.

First of all, I'm not able to read 16 pages but after I've requested screenshots you posted some coingen-like shit.



Also the repos contain nothing productive. There's just a Novacoin fork with no changes, website, and whitepaper.

rofl, checked his posts and Lannister is a hardcore believer that the earth is flat, not round.

Made my day.

A one man dev-team created Bitcoin.
A one man dev-team created Linux (Linus Torvalds)
A one man dev-team created gcc and emacs (Richard M. Stallman)
A one man dev-team created the first mac (Steve Wozniak)

You don't know if Bitcoin were created by one man, a team, a government, or NSA. Neither do I.
What about the others - only the very basics of these things were created by a single man.

[Limx Dev]

Pinned

Best Regards Christian

[Dink]

Sadly one is not allowed to disagree with anything that is said in the Elastic collective.  Any thing that is deemed negative will be deleted by Lannister.  I used to post occasionally there but no longer do so.  Greed, you did not say anything overly negative, but were expressing your opinion.  Certian individuals are more concerned with defending *bullshit* then getting the work done.

[-Greed-]

This is absolutely false. I can only speak for myself but I for example constantly work on the client and I frequently commit my work to the github repository which I am sure has been posted somewhere in the ANN thread. The OP ignores this fact completely, probably because he did not even think about reading a single page of the ANN thread so he does not even know what is being worked on.

The OP obviously did not spend a single minute going through all the interesting technical talk that we had in the other thread. It would be fair to do so before judging about the project. But I think that a constructive review of the challenges and risks was not the intention of the OP anyway. All I read is just blunt trolling. That is why I gave the OP a red feedback which, based on my trust, will probably give him a "trade with extreme caution" tag forever. I am willing to remove my feedback if the OP takes appropriate action.

>https://github.com/elastic-project
>Contributions in the last year
>3 total
>Apr 5, 2015 – Apr 5, 2016
>3 total
>3

>constantly work on the client
>I frequently commit my work to the github
>github
>constantly



Update: a snapshot of the account with Novacoin fork from which the OP forked the mini-blockchain coin: https://web.archive.org/web/20160405134655/https://github.com/OrdinaryDude/elasticd

Update 2: https://web.archive.org/web/20160405135011/https://github.com/elastic-project

[poornamelessme]

Sadly one is not allowed to disagree with anything that is said in the Elastic collective.  Any thing that is deemed negative will be deleted by Lannister.  I used to post occasionally there but no longer do so.  Greed, you did not say anything overly negative, but were expressing your opinion.  Certian individuals are more concerned with defending *bullshit* then getting the work done.

I used to post over there too. It took me a lot of posts, over three versions of their thread, to get some basic info. Now I won't say it's scam... I'd like to think it's not actually ... but at the least there is a lot of mismanagement over there.

I don't think anyone knows who Lannister is exactly. And he's not forthcoming with information. For reasons I won't go into (although EK might want to), they went through a couple of lead devs, all seemingly tight-lipped. Lannister said he wouldn't post a public ledger of how the funds were being used, which is sort of a no-no if a coin doesn't use escrow. Anyway...

Lack of escrow was the first red flag. Anonymous devs was the second. Odd ICO setup another... difficult to get real info another. Three threads, last one moderated, yet another.

I do think Greed has gone into Fud territory a bit, but that's sort of to be expected here. Not that I think he's a troll or has ulterior motives, but with so many scams in crypto land, it's natural for folks to go a bit overboard at times. I did warn EK that the types of critical posts in the Elastic threads weren't FUD .... they never got the scam accusations, or giant fonts, or tons of negativity... just lots of questions. But when a dev isn't completely forthcoming, scam accusations always follow.

Too many red flags for me to invest, but I do think they will eventually deliver a coin. No idea if it'll do what they initially set it out to do, however. At this point I think it'll be more of a situation where they deliver 'something'.

[Nxtblg]

Far from reality - check
Scammers always do unrealistic goals like creating a decentralized supercomputer with a minimum budget of 100 BTC and one-man dev team.

That was the exact turn-off for me. If the project is unrealistic to begin with, there's no need to wonder about it being a deliberate scam. Just avoid it.

[Nxtblg]

If the project is unrealistic to begin with, there's no need to wonder about it being a deliberate scam. Just avoid it.

And how exactly did you conclude that this project is unrealistic? Are you an experienced business consultant or something like that?
Please tell us, I am sure everyone here is interested in your expert opinion.

So you can castigate it on the grounds that I'm part of a wicked Establishment?

[Nxtblg]

So you can castigate it on the grounds that I'm part of a wicked Establishment?

No, I simply asked you a question which you still did not answer 

So you were sincere?

[Nxtblg]

So you were sincere?

I'm afraid I do not understand your question

Then it's best that we drop the matter. I expressed my opinion once in this thread, in this thread alone, and I promise you I won't bother you on the Elastic thread. I haven't posted anything there because it's your pidgin, and I'm not enough of a do-gooder to play thread-hijacker. I'll leave you and your project alone; if you show me up, then congratulations. 

Peace out.

[kjadB]

Bought account - check
If you read old messages you'll find that they are completely different from what the OP's posting now. Btw, it's a new trend scammers no longer use newbie accounts so always double check accounts with history.

It should be easy to verify if the current 'Evil-Knievel' is the same guy who discovered the third planted bug in the NXT code. That guy received a juicy NXT bonus for his efforts. Can Evil-Knievel send 1NXT from the account that received the NXT bounty? If not then you have proof he bought this account.

[cryptoheadd]

Bought account - check
If you read old messages you'll find that they are completely different from what the OP's posting now. Btw, it's a new trend scammers no longer use newbie accounts so always double check accounts with history.

It should be easy to verify if the current 'Evil-Knievel' is the same guy who discovered the third planted bug in the NXT code. That guy received a juicy NXT bonus for his efforts. Can Evil-Knievel send 1NXT from the account that received the NXT bounty? If not then you have proof he bought this account.

This could work.
Up for it, EK?

[-Greed-]

Lol someone donated coins after the scam got exposed.

[-Greed-]

Lol someone donated coins after the scam got exposed.

Lol, the only thing you exposed is your own incompetence.

Bought account - check
If you read old messages you'll find that they are completely different from what the OP's posting now. Btw, it's a new trend scammers no longer use newbie accounts so always double check accounts with history.

It should be easy to verify if the current 'Evil-Knievel' is the same guy who discovered the third planted bug in the NXT code. That guy received a juicy NXT bonus for his efforts. Can Evil-Knievel send 1NXT from the account that received the NXT bounty? If not then you have proof he bought this account.

This could work.
Up for it, EK?

Ignoring this request = scam.

[poornamelessme]

This could work.
Up for it, EK?

Actually that's a very reasonable request.

Lannister is the one who I think most over there had suspicions of a bought account (or at least I seem to recall some guy going on about it). EK should be easy to verify though.

[kjadB]

Lol someone donated coins after the scam got exposed.

Lol, the only thing you exposed is your own incompetence.

Bought account - check
If you read old messages you'll find that they are completely different from what the OP's posting now. Btw, it's a new trend scammers no longer use newbie accounts so always double check accounts with history.

It should be easy to verify if the current 'Evil-Knievel' is the same guy who discovered the third planted bug in the NXT code. That guy received a juicy NXT bonus for his efforts. Can Evil-Knievel send 1NXT from the account that received the NXT bounty? If not then you have proof he bought this account.

This could work.
Up for it, EK?

Ignoring this request = scam.

It wouldn't look good that's for sure. The NXT bounty was made public afaik, so there's no real privacy concern