WARNING Why Arcblock <ABT> is potentially a scam ::) ::)

[cubi1027]

---- Ali13196----
1) Arcblock claims to have partnerships with big companies like IBM and SAP - meanwhile there is no evidence of this anywhere to be found; the community admins on their telegram refuse to answer the question that is continuously asked of them: 'Arcblock claims to have partnership with IBM and SAP but there is no reference to these partnerships or any other on the net, please clarify.'
2) Arcblock has no code on Github
3) Lack of technical development roadmanp
4) Whitepaper keeps telling you to refer to something else which is non-existent
5) how will they prevent SIBIL attacks if the devs pay the “gas fee”?
6) No mention of a lockup period for their coins.
They want $40mill for a project that has 0 foundations
Justin Tomboulian - is not the Microsoft CIO of Japan; if he were ever, his career there ended in 2013.
The team all have a track record for starting businesses that do not go far; this is not necessarily a bad thing - but are they just jumping on the bandwagon?
---------The user "bustitout" poses some questions---------------
- On LinkedIn, ArcBlock includes a total of 4 people but they say they have a team of experts. Robert Mao, CEO stated that it is their strategy to keep their minds from being distracted by social media so they can focus on the project.
- They listed IBM and SAP (among others) as partners. We all know the value relationships with IBM are: XLM (Stellar - by Elon Musk). I also asked them about this. They claim that they are "IBM Business Partners" and "Blockchain's Coinnovation Partners with SAP". From what I gather, an "IBM Business Partner" to them, simply IBM customers.
----------
Here is a user named "mave99a" who claims to be the founder of Arcblock to answer questions raised as follows:
- ArcBlock is NOT an open source project, nor is it developed by volunteers, we build it with the commercial software development process that I have many years of experience.
- Our platform is a pretty big challenge: we do not build a new blockchain, instead we are building a new computing platform for developing blockchain applications. (So ​​block chain 3.0 is simply an old chain block application?)
- Almost all the members and mentors have a relationship with me. For example Flavien is my friend in Microsoft Europe. Justin is a Microsoft co-author and co-author of one of Bill Gate's best-selling Think ...
----------
+ The user named "playaz3" questioned:
- Can you explain why admins / mods in your group use fake images from instagram and avoid any questions about the above issues?
+ The user named "UpBoatDownBoy" asked the question:
- Hey, can you answer the business partner question?
- The user "mave99a" (founder of the Arcblock project) replied:
We have just become a member of IBM PartnerWorld, and as in the White Paper, we plan to support IBM Cloud (Bluemix) in the future. We have also become part of the SAP co-owner blockchain program.
- User "nfuckinsane":
Do you have documentation to prove this?
- The user "mave99a" (founder of the Arcblock project) replied:
Yes, however we will not release it. The agreement between us and our NDA partners. We can jointly clarify here, but we will not post those materials here.
- User "Ali13196":
Partnerships have no meaning at all - anyone can get involved in this kind of partnership!
----------
+ User "UpBoatDownBoy":
Does this mean that it's not a collaboration in the traditional sense, like between IBM and Facebook, that Arcblock is simply an IBM customer?
+ The user "mave99a" (founder of Arcblock project) replied:
- As a person with many years of experience in large companies, I know the establishment of partnerships with large corporations is not difficult as many people think.
However, we are still too young to establish a strategic partnership like facebook at this stage, but we will try to achieve it after we become bigger.
+ User "Ali13196":
- So you want to make money first, then find partners?
(Question too !!!)

[Arcblock_Scam]

The point you give is quite reasonable but not all are correct. Please refer to the other views of the blog: https://arcblockscam.blogspot.com/

[Bpress]

That's a lot of redflags

[Vansire]

I'm wearing the ArcBlock signature so as you can imagine I'm not too happy to read those red flags concerning ArcBlock. It's true the admins on Telegram are using fake names and profiles. On one hand this is crypto and we should be accustomed to anonymity (who is Satoshi Nakamoto?) on the other hand we didn't have to pay Satoshi Nakamoto to receive Bitcoin in an ICO, but ArcBlock are trying to convince people to invest millions. Hiding behind photos from professional models isn't a great way to earn trust.I hope most of the red flags can be removed soon.

[matale0]

 No FUD here mate, I've done my research and it's a fucking exit scam built by some crappy scammers and maintained by Indonesian and viet shills

[EyeZeeFour]

Any merit to this?

[ctan54]

Hi All, I found this on my crypto facebook group post if that helps.


Arcblock CEO : Hi, ArcBlock founder and CEO here. Sorry for my English and typo, 🙂 I am answering from mobile phone without proof reading help since I think it's important to clarify those asap.

First of all, thanks for all those questions, this actually helped us to understand better what need to be clarified. We, as a group of software nerds , are far better on dealing with computer science problems than writing a great white paper to cover every part of a complex system. 🙂

We are building our partnership with corporates and organizations progressively, and what appears on our website are just a beginning. There are all kind of partnerships we are trying to establish, but the most important one is you -- our future developer who considering to build apps on our platform.

ArcBlock is NOT an open source project, and nor is it developed by volunteers, we build it with commercial software development process which I have many years experiences. We will open source Open Chain Access Protocol and its reference implementation code once we reach RC (Release Candidate) milestone. We might consider open source more components in the future. ArcBlock is essentially like a Amazon AWS but for blockchains, you won't find any core AWS source code anywhere from the github, but Amazon release code samples, some frameworks, APIs etc. in open source license to help developers understand the system better. This is common practice in the industry, and we choose to do it in a similar way. We do have a simple version of roadmap and long term plan posted on the website, and we use Scrum process for our development, it's an agile software development process which means we embrace changes rather than have a fixed plan. We have started to build this platform almost 12 months before we start to write the white paper and we have decided to keep our team away from the distraction... it's a nightmare to have recruiters email and call your team all the time. We are actively hiring and we strictly need everyone keep silence on what we are working on. Hope the community will understand we will keep this in stealth mode even in the future.

Our platform is a pretty challenging one: we are not building a new blockchain, instead we are building a new computing platform for developing blockchain apps. Our white paper is far from comprehensive to cover every details of the system, it's just a high level overview of our design and how it will work. If you find there are anything in the paper that are not accurate or need clarify, please feel free to let us know and we will try our best to improve it. SIBIL attack is unlikely our major concerns since our system use a very different approach, the end users will not be able to broadcast transactions like they can do with Etherem or Bitcoin. As I mentioned, ArcBlock is not building a new blockchain, it's an application platform that works with existing blockchain technologies and we focus on provide a computing platform to deploy apps. There are many security problems we will have to face in the future, and the white paper didn't address this part.

Our team's incentive plan and locking period are yet to be finalized, since it's also a new concept for us to move away from Restricted Stock and Stock Option Plan to a token based incentive system. I think we will adopt some restrictions that will be similar to typical Stock Options/Restricted Stock: 48 months vesting period and 12 months cliff. We didn't announce this yet since it's some legal paper works in progress, we treat this seriously.

Our team and advisors all have proven track records, yes, there are success and failure in the past for all of us, who doesn't? Almost all my key team members and advisors have years relationship with me. e.g. Flavien was my peer back in Microsoft Europe. Justin was my Microsoft colleague and my co-author for one of the best Bill Gate's Think Week Paper, ... Long last relationship is the key to success, esp. for the challenging project like this.

[Riqelme]

ArcBlock Review - World’s first blockchain for building and developing decentralized applications
prabod (25) в blockchain •  8 днeй нaзaд


 People in today’s world tend to use Blockchain technology for a variety of Purposes. The obvious benefits linked with Blockchain technology have contributed a lot towards all these uses. You can even find a Blockchain, which has specifically been designed for creating decentralized applications. The first of its kind blockchain is introduced by ArcBlock.

 What exactly is ArcBlock?

 ArcBlock can be simply be defined as a platform, which has the ability to give life to decentralized blockchain applications. However, it doesn’t just offer the foundational components needed for the blockchain applications. In addition, ArcBlock has got the ability to power up complex business rules as well. It has the ability to get connected with the existing blockchain networks, which can automate most of the business processes.

 The primary objective of ArcBlock is to eliminate all the barriers that have slowed down the adoption of Blockchain technology among public. In addition, ArcBlock focuses on giving life to unique approaches, which can create an impact on the advanced concepts of Blockchain development.

[sensimilia]

Always makes me cringe when I see some unknown group of people announcing partnerships with multi million/trillion dollar companies who would never be interested in them.  

[Lingqingyi]

I always thought ArcBlock was a good project, maybe it would be the block chain 3.0. I want to invest in it.
But after seeing your post, maybe I should re-examine the ICO project, it seems that there are many problems with this ICO project.
Thank you for sharing information about ArcBlock.

[cryptohunter]

same goes for most icos ... 90% are full of shit.

Look for real projects with real proven devs that have the correct skill set to launch a crypto project.

bitbay
blocknet
byteball
pivx
komodo

seeking new icos to make you huge returns will cause you to do far worse than finding real projects that are way below comparable market value

[AravinthP]

I don't know how to decide that but from what I see and read arcblock is going to have a good time at least while listing

[seek4dream]

I just noticed this project several hours ago and it seemed very interesting.
Thanks for your post. I will certainly do more research into it.
I'd rather miss an opportunity to get scammed.

[cherryscarlett]

But the arcblock project, telegram has 36,000 people, which is a huge number.
But your post makes me wonder if this is an ICO project worth investing in, and if this is true, the project could be fraudulent.

[hanlieuiypm9832]

I'm wearing the ArcBlock signature so as you can imagine I'm not too happy to read those red flags concerning ArcBlock. It's true the admins on Telegram are using fake names and profiles. On one hand this is crypto and we should be accustomed to anonymity (who is Satoshi Nakamoto?) on the other hand we didn't have to pay Satoshi Nakamoto to receive Bitcoin in an ICO, but ArcBlock are trying to convince people to invest millions. Hiding behind photos from professional models isn't a great way to earn trust.I hope most of the red flags can be removed soon.

I agree with you, the arcblock project is a promising project, many people can join in the ICO and what they want to do is making panic and buy cheap coins in my opinion.

[doedz]

A good ICO is always attacked by some who want to drop it.
Well they scamer always say anything about a project without proof.
We recommend that information about a project should be asked to the team and responsible.

[kiemnhieutien]

Hater gonna hate!
While ArcBlock is getting their fist successful with a big community - more than 50000 participants now, and https://etherdelta.com/ also claim their cooperation with ArcBlock. Can you answer me how a scam project can do that? ArcBlock is not scam, ArcBlock is a greatful project.
Seem that you miss the ArcBlock Bounty, or for any reasons you can't join ArcBlock ICO so you create this theard. It's so bad.

[CryptoBuds]

if scam why is exchanger like etherdelta partnership with him? , it seems if I think this project is not a scam

The partnership with etherdelta doesn't prove anything due to current uncertainty in the new ED founders as well. Do you know about selling of etherdelta to chinese founders which immidiately started ICO and mentioned as a CTO the previous founder of ED?

[WalkerIVIV]

Hater gonna hate!
While ArcBlock is getting their fist successful with a big community - more than 50000 participants now, and https://etherdelta.com/ also claim their cooperation with ArcBlock. Can you answer me how a scam project can do that? ArcBlock is not scam, ArcBlock is a greatful project.
Seem that you miss the ArcBlock Bounty, or for any reasons you can't join ArcBlock ICO so you create this theard. It's so bad.

I only know about the fact that the redflag can't be avoided because there will be another people will try to find the fault that has been made by developer itself. It's still a speculation because ico hasn't been running.
My guess we will see what will be happening after the crowdsale will have ended soon. But community looks very big imo.

[itsv]

Well i just started with thier bounty ... earlier i was looking into the ICO and did some research and found some alarming posts on reddit and bitcointalk... But all things aside why some youtubers like supoman are promoting this???