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

[DroiX]

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???  

here is what I found. Looks like most of the cooperations they claimed already having are still to be established.
http://boards.4chan.org/biz/thread/6337604/arcblock-ico-is-a-scam

I am pretty sure that ICO will go well and you can make profit selling tokens afterwards, but I am concerned their team is capable of doing what they are going to achieve.

[Rudementry]

Oh my God. I considered this project for investment. But my country is not on the list of authorized participants. And I'm very surprised to read this post. Thank you very much for writing this. 40 million they want to collect. And there are already a lot of markers talking about deception. It's just amazing.

However, if you send an official request to IBM. This will be direct evidence. Thanks again for the info.

[Arkangel]

I was going to take part on the ICO but now it seems to risky, thanks for doing this research

[Xiaolongnu]

You will regret and claim yourself if you don't join ArcBlock. Its really a good project with great team and big community.

[pokokeke]

You will regret and claim yourself if you don't join ArcBlock. Its really a good project with great team and big community.

actually I really want to follow the project but I feel I'm too late to join!

[Oumal]

Yes, I also read in Telegram when asked some questions, hence there are certain thoughts.
It's good that you wrote this topic. While I will only observe

[Acguy]

Arcblock has been pretty spammy recently and from only a couple accounts they say the same thing.

[SpookyGhost]

Also vested funds not locked by a smart contract? Ico not done by smart contract?

[Wilsonong222]

The red flags are too many. This kind of ICO has a high probability to become scam. I don't wanna deal with this kind of ICO where simple question cannot be answer straight.

[adamski]

ArcBlock seems to be a very ambitious project. So my question is why there are only 4 team member?
Founder, scientist, marketing, legal counsel. That's all? I really doubt if such an monster can be developed by one or two person...

[planctoncu]

Yesterday, I was kicked from the telegram group, by admin named Edna, for asking technical questions about token distribution and ICO phase. She could not answer my questions. And when i squueze her with harder questions, she banned me 

I just want to warn people seriously for this project, there are lots of red flags and this meaningless ban.. !!

I will not invest in this project and good luck to whom are investing!

I also send message to Suppoman about the situation I experinced, and kindly requested if he would talk about it todays video.

[DroiX]

Wow. Not a best way to establish a connection with potential investors. I been in many groups already -Telcoin, Trade IO, MedicalChain and etc and all admins were very helpful answering questions.
Can you please share the questions you were asking so I could try replicating the ban?

[Aoirayn]

From the start I've been kinda worried about Arcblocks.
Many people talk good about it, yet they have no product and are selling Erc-20 tokens.
They're supposed to be blockchain 3.0, but right now you will get tokens, which you must trade against the real product later..
when it's ready.. after the ICO.. of which they receive a lot of money..

I'm not spreading FUD, I'm just trying to give insights.
I think it's safer to invest in ICO's that either have an actual product ready.
Or have a very good plan, exposure and most importantly, a great team with experience.

[Thyaga]

Classic, Newbie accounts spread bad news about a project and after the ico process is complete, the coin pumps. reminds me of centra.

[frankwhites]

I am from Seattle and an active participant in Seattle tech startups community. Arcblock CEO was previously working on a mobile app startup PixoMobile, one of their products is an iphone photo edit app similar to instagram. From his linkedin, he was working on his PixoMobile app until mid or late 2017, and his expertise is full stack, launching cloud service as well as mobile app UI development, but very little work or experience in blockchain technology. My guess is the development they have done so far in 2017 of their roadmap is very minimal, that's why they don't have an engineer team or any code on github. Some of the gateway, sub/pub services, cloud service mentioned in their white paper are likely borrowed from previous backend work of PixoMobile, not really related to the blockchain project. The foundation of arcblock, Open Chain Access Protocol, is not even in development, just on the design stage. I might be wrong, but if Arcblock can upload any codes of the blockchain work they have done so far to public repo in github, that would prove me wrong and also give all the ICO investors a peace in mind. The other weird thing is he did not list any developer in his team, the excuse of keeping his employees heads down and away from recruiters is not convincing, as most successful ICO does have a good team with excellent engineers, and engineers who are working for a great product won't leave the company because of recruiter calls. Just my two cents. Hope we will have more ICO companies that are more transparent and developing great blockchain product.

[revvv]

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.

this are not small redflags.. but fucking huge. this is not something you can ignore.

[Vansire]

Oh well, I guess with this level of hype they'll raise enough money to hire blockchain developers. I've been proven time and again that a team didn't seem qualified to execute the plans of the white paper - by the way did you know some projects have been outsourcing the writing of their white paper? - after the end of the ICO they just hire the people they need, partner up with a tech heavy team or against the odds get a working product and end up with a successful business. Business first, tech second can be a successful strategy. Not saying I condone it, but if it works it works.

[seek4dream]

I am from Seattle and an active participant in Seattle tech startups community. Arcblock CEO was previously working on a mobile app startup PixoMobile, one of their products is an iphone photo edit app similar to instagram. From his linkedin, he was working on his PixoMobile app until mid or late 2017, and his expertise is full stack, launching cloud service as well as mobile app UI development, but very little work or experience in blockchain technology. My guess is the development they have done so far in 2017 of their roadmap is very minimal, that's why they don't have an engineer team or any code on github. Some of the gateway, sub/pub services, cloud service mentioned in their white paper are likely borrowed from previous backend work of PixoMobile, not really related to the blockchain project. The foundation of arcblock, Open Chain Access Protocol, is not even in development, just on the design stage. I might be wrong, but if Arcblock can upload any codes of the blockchain work they have done so far to public repo in github, that would prove me wrong and also give all the ICO investors a peace in mind. The other weird thing is he did not list any developer in his team, the excuse of keeping his employees heads down and away from recruiters is not convincing, as most successful ICO does have a good team with excellent engineers, and engineers who are working for a great product won't leave the company because of recruiter calls. Just my two cents. Hope we will have more ICO companies that are more transparent and developing great blockchain product.

Thanks for your information and analysis. It sounds reasonable to me.
Arcblock do have some hype right now, but there are too many redflags.
I will follow this project, but probably won't participate its ICO.

[tk808]

If you give me 300 million USD, i'll give you a paper with some black text on it, a wordpress site, and create a telegram channel with 40k bots too. NP, lets begin ScamBlock 3.0 ICO right now

[julianAm]

Guys, thanks. I think also. Some of the proposed developments no have analog now. CloudNode live only in mind. May be project not scam but we don't see real product long time. Now they must find excellent programmers for all. But where?