so, if borz sold his coins...what's the point in him continuing development? Only he has seen the code...? And how do you personally know that isn't a stall tactic, considering the technology won't ever be open-source with CCR confirming it?
We can NEVER see the code if he doesn't release itAlso an addendum : What's the point in patenting the code if it's never to be released?
Unfortunately, even if fish and ddel and whoever are active, they have no access to the code. It's all vaporware unless you prove it to be, and I just proved with my link that CCR said he will never release the code for the zoltchain...even after patent
Here for you mcworse and everyone else, my proof.
https://media.discordapp.net/attachments/398491929303711744/421267302684819458/2018-03-08_14.25.33.pngI mean there's alot of red-flags ad I kept my mouth shut about this project for a while, but come on...even CCR said it, what more proof do you even need? lol
To understand why this is a scam, you need to understand that the zoltchain is the basis of the entire project. The old scam chain is only 500 TPS and riddled with bugs and they promised 10k on the new chain and to have the project peer reviewed open-source, now they changed their mind...so...please don't let dollar signs and fallacy cloud your judgement.
and @mcworse, you can say that I know more about this project then you could ever imagine, so enjoy your leaked information I guess?
Here's a TLDR : Project is a scam, promises of free money and x10s, promises of letting people see the chain after it's patented, borz slowly dumped his coins in the meantime, i told community the truth @5k sats, now telling them the truth @1k sats, either enjoy your scam or go buy something else, up to you if you want to lose money or notAlso, not a personal vendetta, but I guess i should say that i hate scammers?
Shitcoin with fake code. We can't see the code and they missed the mark by 95% in the last testnet, none of it is real. Borz is a previous scammer as well. He had two other coins that he abandoned and now he's already sold most of his coins already
Also reposting your post candi LOL
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I have been hearing a lot of newer traders talking about XBY(xtrabytes) lately, and I am not sure if people are actually doing their due diligence before jumping headfirst into what has been shaping up day after day to be an extremely risky longshot, if not an outright scam.
I'll admit, I invested in the coin in the low satoshi range (<100 sats), because why not? A $100 investment into what may or maynot become an interesting project that I got into early could be very lucrative in a few years. The community in the beggining was great, very positive and welcome to new coin investors, and the project overall had a great backstory: After all investors being scammed by the Bitmox developers, an investor who happend to be a crypto-dev took it upon himself to get a hold of the code, and try to revive it so that the investors didnt just lose everything they put into the ico (prices only ever got up to the ~14ish satoshi range during bitmoxs life). The dev, an apparently deaf hungarian with bad english speaking skills, recruited an english speaking marketing veteran, who was positive, chipper, and also eager to ressurect this coin and give his investment a second chance.
Within a few days, the daunting task of simply resurrecting the coin was made even more interesting - The team began speaking of some ideas that the developer had regarding a new consensus algorithm, which would require a "masternode" type arrangement, again piquing my interest in the project. I began to spend more time trying to find any details that they would provide for this developement, while in the meantime the price for this coin began to rise and the community began to grow. Not long after this, another bold claim - the developer has come up with a mechanism to ensure that network would be much more secure, using a newer p2p network impementation that no coin has. With these fantastic claims, of course comes doubt - and the marketing man becomes a bit unhinged, attacking anyone leveling any sort of criticism towards the coin as evidenced in this disturbingly aweful video:
https://www.youtube.com/watch?v=cN6vand5Dp4A surge in interest in the coin manifests simply from the fact that there are masternodes, or what they are calling "static nodes", that require a certain number of coins to be locked away in cold storage. The price slowly increases as more people become aware.Suddenly the marketing goes from the daunting task of resurrecting a coin, to claiming that they have a genius dev, who is inventing new technologies that will change the cryto landscape forever. Hype began building, and all rationality went out the window. Each day, the claims becoming more incredulous, with speculation that the developer, who has yet to idenitify himself, is a PHD in mathematics from Princton, Or MIT, or a Univesity in France. Claims that he may be Satoshi Nakamoto himself begin making the rounds. The Marketing man, instead of tamping down expectations, now is full fledged in FOMO mode. The price begins to behave extremely irrationally, people begin trying to pump the coin through 4chan, and we begin to see the first signs of market manipulation:
https://imgur.com/a/uW8o2Price shoots up from 200 satoshis to 700 satoshis in an instant, and the FOMO from the channel becomes extremely disturbing. As people begin questions the market movement in the general slack channel, a select group of members begins to berate them, ignoring questions outright and labeling even the most mundane of concerns as trolling and FUD. Things begin to get very suspicious to me, as I hear claims that there are problems with the wallet code even being offered by this genius dev, that the repo lacks any sort of real view into the work being done, etc, etc. So I begin to look myself at
https://github.com/borzalomAt the time, there are two projects, one BAC project (some previous venture of this developer), and the Bitmox project (which was the scam coin code being resurrected). There are minimal commits, nothing of substance. Many people begin noticing the discrepancies, and the slack channel becomes outright hostile to anyone not toeing the company line. The price begins to subside, and correct down to its 200 satoshi norm level, but the FOMO in the channel just gets worse, and worse. The marketing guy is now openly stating that the developer is going to be rewriting the code entirely, and will release a non-clone coin with no relation to bitcoin or ethereum, nor any other coin on the market. FOMO is now at astronomical levels, with the slack taking on an almost cult-like air, and the price once again takes an exteremely suspicious pace, as it increases from 700 satoshis to 1700 satoshis within days, with major dumps followed by increased FOMO everywhere pumping the price up, rinse and repeat. Rumors that a second level of statics manifest, and another FOMO rally appears to be brewing.
The doubts begin to spill out into multiple forums at this point, as there does not appear to be any relevant need for a second level of staticnodes other than selling more coins and creating FOMO, and some disturbing posts begin to be made on 4chan.org/biz which ultimately lead to the revelation that the developer is not who they claim him to be, nor is he even hungarian - that he is a drupal programmer from Florida. The price literally plummets, and sentiment in the slack is off the charts. It becomes a with us, or against atmosphere - and group of hardcore loyalist begin promoting that everyone should be buying up the cheap coin, which it appears they do as the bleeding somewhat stops in price. The 4chan info never seems to leave 4chan as promised by the leaker, but it is apparent at this moment that the price was being manipulated hard by 4chan pumps, and that the loyalists are now in control of most of the coin.
I begin to look myself at who these loyalists are, and lo and behold, they are all listed as "board members" for the coin. Their intentions are now extremely suspect in my mind. The mood in the slack becomes very nerve wracking, and there is near CERTAINTY that this will pump as they try to generate as much FOMO as possible. I now believe the poster on 4chan is correct, and that either the entire team is in on pumping this coin for pure profit, or that there is a contingent of them working to do so. Their plan seems to have backfired at this point, as there has been a clear lack of interest in the coin due to all the lies and misinformation being FOMO'd right from the team itself.
I take a close look at the info in the 4chan posts, and cross-reference with my own research into the github projects - everything seems to be connected to the devs username and email address, and upon close examination the whole thing just looks bizarre:
http://lmgtfy.com/?q=site%3Agithub.com+szabozee http://lmgtfy.com/?q=whois+borzalom.huThe github username is indeed connected to multiple previously 'abandoned' coins, most of which look like a scam, and with a little digging, one can associate several of those coins with that email address and username on multiple domains and in github. Most telling is that the username is even indeed connected the the web development company this developer apparently works for, as noted by commits to their github, also confirmed to be theirs from a facebook group.
Links to some of the archive of 4chan.org/biz posts - feel free to search for more as there are plenty:
https://warosu.org/biz/thread/S2310966 <- Good summary of the story as told by disturbing posts
https://warosu.org/biz/thread/S2307553 <-The one where the revelation is made about the dev
https://warosu.org/biz/thread/S2290510 https://warosu.org/biz/thread/S2289245I will not past the developers name here, but you can find everything you need to know by looking at the official repos and domains for this project. borzalom.hu xtrabytes.club aedb.eu
github.com/borzalum github.com/szabozee
This is a warning to all of you newer investors that even a seasoned investor such as myself can get caught up into the FOMO, and make bad decisions. Is this coin a scam for sure? I cannot tell you for sure - but I can tell you right now that this thing stinks, and that either the whole team is in on it, or maybe only a faction within the "board", but looking at the price charts, it is fairly obvious that the price has been rigged, and that someone has been dumping their coins.
The tools provided by the developer are also broken, and during the last price dump back to 700, it is confirmed several static nodes were sold off as anyone can confirm by searching their slack and seeing it being discussed by the team members (they bought the coins, FYI). While this happened, none of the static nodes went offline in the static list, and several million coins were being moved around - with no way to know by whom.
This is either a very elaborate scam with preplanned exit scam (selling level 1 statics at a certain price point to exit, covering it up with FOMO from second level static sales), or pure pump and dump with same logic (seeing as you can see the team collecting as many coins as possible after the dump - did they put out the FUD on their own to lower the price?)
With no real working technology to speak of, and only promises by a developer and marketing man who has been shown to be a liar now on multiple occasions, this coin is a very dangerous buy - and I would be wary of holding large amounts of it in cold storage as required by the devs for either level 1 or level 2 statics for the simple reason that if this is a pump and dump scam, you will not have nearly enough time to move your coins from storage to the exchanges before the coin is worthless and you are left holding heavy bags.
Good luck to all of you, and I hope for everyones sake that is involved in this project whether through investing or otherwise that this is not a scam. It very well may be just incompetence on the teams part, coupled with pump and dumpers taking advantage of the situation. Either way, the price on this coin appears to not be based on anything factual or fundamental, and as such is liable to crash at a moments notice.
Link :
https://www.reddit.com/r/CryptoCurrency/comments/6g9gez/long_read_but_a_must_before_investing_in_xby_be/
