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Author Topic: INDORSE.io, Is it a scam, or not??  (Read 221 times)
BeBlockTech (OP)
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November 08, 2017, 12:41:44 PM
Last edit: November 08, 2017, 03:29:11 PM by BeBlockTech
 #1

I would like to let the community decide whether this project is a scam or not, based on the research I've done.

I would like someone to tell me if I should be reporting this to this community or not. I know you guys are very “exigent” when it comes to “newbies”, which I can understand based on the kind of Individuals who are part of this community. (No offense to the Honest ones). But this doesn’t take away the fact that some of us know how to spot some criminal activities in this community. And to be honest, this is the second account I have over here, which I opened to promote my website https://beblocktech.com/ (not yet online), and this is my other account: "norrisr".

As you can see, it’s been over 8 months I’m over here, and if I’m a "newbie," it’s a choice, it's because I decided to do my homework before posting any crap.

The last 6 months I’ve been teaching myself how to code. After some basic Python and some JS, I started to play around with smart contracts and to invest in some of them. Of course, if I am here today is because "I THINK," that I’ve spotted some “illegal,” (if we can call it like that), or at least, "Immoral" activities behind the creators of the DAPP, and to be more specific, the addresses linked to the deployment of the contract are the ones who got my attention.

So, please, correct me if I’m wrong, make fun of me if you like, tell me I'm paranoid, tell me if you want me to delete this post and I will. But keep also in mind that this is something that MAYBE, the newbie is right about + we need to post something to get up in rang, so, this is me making my first post if you like, after 8 months.

I gonna also apologize in advance for some potential errors in my grammar that you may encounter while reading through this post. One of the other reasons that it took me so long to post something is because of my English skills. It's been only six months that I’m using English on a regular basis, and only for coding purposes. People tend to make fun of me for my English skills, without realizing that someone who doesn’t speak fluent English speaks for certainty another Language. I speak perfectly three other languages in my daily life (Spanish, French, and Dutch).

That being said, let’s dive into what "I THINK" is a scam;

“Indorse” team deployed a contract 91 days ago;

"https://etherscan.io/tx/0xcfd8dbbcec968a96295faf6668baf4da47619c31fe4fbe36fe218a0713bb0b72".

I think we can all agree on that. And as you can see, the tokens got distributed between 7 accounts.

This is one of those accounts;
"https://etherscan.io/token/Indorse?a=0x0097ec8840e682d058b24e6e19e68358d97a6e5c".

This does mean that this address is linked to one of the creators of the contract, am I right? And not to some "Early adopter," or to some other "Big Wale." I hope we can all agree on that.

So if we are all on the same page my question is very simple and goes as follows: IF, that address is linked to the deployment of the contract, AND, since this address is selling tokens like if it was some kind of “big wale,” AND that address is trading with another address that got his tokens as an “Early investor”, does this back-up the fact that something strange is going on here.

We already saw that the address mentioned above is in possession of his token from the day of the deployment of the contract, which means, that he got them for free. Are we all ok with that? Ok ok ok, the price for the deployment of the smart contract, 0,0... ether, let's not forget that.

I noticed this when following another address, the one people were speaking about in the forum. Saying it was some other “Chinese big wale”, this one here;
“https://etherscan.io/token/Indorse?a=0x72002915559a0b586e8b71349f15679a9e784d22”
and correct me if I’m wrong, I think it’s a bot  Grin Cheesy Grin, and is linked to this one over here;
“https://etherscan.io/token/Indorse?a=0x1428452bff9f56d194f63d910cb16e745b9ee048.” I followed a few of them, and at least the one I visited, are all new accounts...

That “Big Wale”, who also got his tokens as one of the first contributors, backing-up my theory where I explained why someone would sell his tokens under the market price. You can find this one on the Indorse announcement page. Where I decided to confront them with the fact that I think this project is a scam. “https://bitcointalk.org/index.php?topic=2047503.540” (Is there any other decent word for "scam" Undecided)

Now let's talk about the team, the one they introduced on Medium “https://medium.com/crypt-bytes-tech/ico-review-indorse-7f7b64566eba”,
is not the same as the team on their website. “https://indorse.io/”

They even made mistakes with the roles distribution. While on their website the team consists of one senior developer, go find out why the heck on Medium they have two of them? They have two Senior Developers and a Smart Contract developer that doesn't even exist on their website, and who has never been on GitHub.
-Harsh Nene  went from Product Advisor to  Senior Developer,
-Gaurang Torvekar went from co-Founder to  Technical Lead or the other way around...
I could go on like this but go ahead, and have a look by yourself to the team on Medium and the team on their website.

Another thing who got my attention is that the only one who has ever been present on GitHub is the founder himself... "https://github.com/orgs/indorseio/people".

Except for this one time, like a month ago, when the co-founder showed up on GitHub and "updated" the contract... "https://github.com/indorseio/tokensale/commit/b9f062c20988d350353e867d872143c81decc284#diff-1b1fd45ce4d28644ae168ae72f422cf2".

I think it's my right as an investor in this project to know what’s going on here. I am not an experienced programmer, just yet, but I think that I have the right to share my findings and speak up for myself and other investors in this project. You can correct me if you like and I will appreciate it. But I think that we don’t have to be some kind of “genius” to follow a few smart contract addresses and see that they are trading with each other, or selling tokens that they got for free if you like. Backing-up my theory that this project is just another scam.

All the comments are appreciated and please tell me if I’m wrong, however, I always take the time to answer some of the common ones in advance, like a Q&A section to spare some time for the reader, or an FAQ if you prefer.

This is how it goes;

-I can’t understand your post, it’s very hard to read your English:
   -Follow the numbers, numbers don’t lie, and DAPPs neither.

-There’s one guy over there that told me to “get a life”. What I like to tell to such people is very simple;
   -If doing the things that we think are the right thing to do towards the community around us is a waste of time, they should meditate a little about this and find a real purpose in their life. The problem nowadays is not the bad guys out there, it’s us, we see all that wrong going and in the worst case scenario, we decide to participate, and in the best one, we tend to look the other way around. We think we are too little to make any difference and I like to show those peoples that we are not!

-I really like this one: Why are you doing this? Spreading FUD is not gonna help recover the price.
 Hahaha, also very simple;
   -Even if I’m here for the same reason as all of us, to make some, I am not the one who is going to sell his soul to evil for money, not for a piece of paper. And my soul is not for sale by the way. I just find an incredible joy in helping the others around me, that’s all. Ok, and in spotting criminals also. Some of you out there should give it a try.

And it also happens to be that I invested in this project, people were telling me there would be Lambo’s if I “HODL”, and it looks like there are not! At least, they can not say that I didn't do my own research… I got trapped by those guys over here, after that, Electronium started to play around. Yesterday(11/7), the “hack”. Add to that a few exchanges that made my life difficult over the past few months and there you go, you have a guy like me who takes the time to write his first post EVER, in a language he never used before, and towards a very, very, exigent community.
                                 ________________________

I know that most people are always asking you guys, “BTC-talkers”, to be soft with them when they make their first post. Me, I'm a bit different, I like it the other way around… Be hard on me, don’t spare me, let your imagination go beyond the unthinkable and go ahead, put me back where I belong if that’s what you think I deserve. Just keep in mind that for people like me, it’s just another stepping stone, a motivation to seek for answers I still don’t own, it builds up character! You can also try to explain to me where I'm wrong if that's an option Smiley.


Let the comments flow!!!






 


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