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

[Revelations86]

I would stay away from this one.  Tons of red flags as they made plenty of lies like being the first platform for dapps, having relationships with IBM and SAP.   Also only a team of 4? Really.  They are also kicking people from their telegram for asking simple questions.  It has scam checked in every box.

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[Emilyearl]

I'm not trying to stand in the gap for the project. It's true their telegram admins do avoid some questions but that's not reason enough to tag it as scam. Haven read the 28pages of their whitepaper, there was not any point they said refer to something else. The end will tell if it was a scam or not. Let's wait it out.

[Tynovten_]

Just like how you said that's make people that participate hurt, many of ico that in the progress seems like scam with some arguments but in the end it shows itself that it is good quality ico. Hope arcblock will be like that too.

[paxmao]

---- 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.

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.
A Partnership does not mean an Strategic Partnership.


2) Arcblock has no code on Github
It is not an open source project. See the FAQ: "Is ArcBlock an open source platform? ArcBlock is NOT an open source platform"


3) Lack of technical development roadmanp
There is, here https://www.arcblock.io/. Just scroll the web page!


4) Whitepaper keeps telling you to refer to something else which is non-existent
And you are referring to "something else" so there is no way of proving nor disproving the argument.


5) how will they prevent SIBIL attacks if the devs pay the “gas fee”?
By using the gas fee. Is not a public blockchain.

6) No mention of a lockup period for their coins.
CEO recently clarified that they are vested for 2 years.

Now... please, before FUDing take at least the time to scroll a page and understand the project.

[Javanewstar]

Arcblock is a popular ICO project, and its telegram group has a large number of people.
But Arcblock also has a certain problem, your post is a good post.
I just found Arcblock at Bitcointalk forum and there's a lot of Newbie posts saying that they want to invest in Arcblock, and I think these posts are just Arcblock's advertising

[paxmao]

Arcblock is a popular ICO project, and its telegram group has a large number of people.
But Arcblock also has a certain problem, your post is a good post.
I just found Arcblock at Bitcointalk forum and there's a lot of Newbie posts saying that they want to invest in Arcblock, and I think these posts are just Arcblock's advertising

Most likely they are. ICO launchers have figured out by now that having a large telegram group is something that looks good for investors, as they assume it means that the demand will exceed the supply. They are currently following different strategies, being the most common spaming the forum all over and Airdropping in exchange for joining the telegram channel.

So... if you are an investor, wise up and learn to tell the difference between true growth and crappy marketing.

[chitocrypto]

Might have to take a second look on Arcblock then.

[kvinstar]

there is one big argument that arcblok is a scam, because it's necessary to send an aether to an Iso not to the address of a smart contract, but to many different addresses that are issued in a personal account to users
did not even bother to make a smart contract

[BeEvil]

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

Unfortunately, it may turn out that even with full of scam, this project, around which a lot of hype, will bring profit to its investors, but nothing will happen later ... ETH just flow from one pocket to another.

[CryptoDemonElite]

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.

That does suck, but that why you do your research. This year is kind of funny because it turning out all these ICO are scams.

[seek4dream]

Arcblock ICO sold out in minutes just now.
As far as the ICO is concerned, it went well. The progress is transparent.
Since our personal cap is 3ETH, I'd like to have a try.

[CryptoDemonElite]

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

Unfortunately, it may turn out that even with full of scam, this project, around which a lot of hype, will bring profit to its investors, but nothing will happen later ... ETH just flow from one pocket to another.

You have a good project there, I mean look how big bitconnect got and that project was a scam to begin with.

[sydneyhero]

I didnt participate in the ICO  cos I think its very likely to be a scam.
But the ICO sold out within 1 hour lol.
Good luck to those participated, I guess they still can make money in short term by selling it to those who missed out from the ICO, then the coin will drop.

[jan.nicolas]

It's very interesting of course, but I think that all this is just rumors until some kind of evidence is provided, so for now all this is just talk and gossip. I'm not a supporter of the project, I'm just for justice

[Casey7]

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

This is crypto mate. Partnership with etherdelta does not mean anything.
The only to prove wheater they scam or not is building partnership with real merchant and not only with the same company in crypto.

[Chrmel612]

This project is overhype. And their bounty program most likely allow newbie which i see as a spam. They maybe reach their ICO goal but i'm skeptical that this could be a huge money grab from them. Their project being not OPEN SOURCE is a big red flag.

[micz_bjukanon]

This project is overhype. And their bounty program most likely allow newbie which i see as a spam. They maybe reach their ICO goal but i'm skeptical that this could be a huge money grab from them. Their project being not OPEN SOURCE is a big red flag.

Agree. I search google for them and there are tons of red flags and it is not looking good at all. Probably a scam ar at least project with no future.

[paxmao]

there is one big argument that arcblok is a scam, because it's necessary to send an aether to an Iso not to the address of a smart contract, but to many different addresses that are issued in a personal account to users
did not even bother to make a smart contract

It is fine not to trust that method, but it is not a proof of a Scam. Look for other stuff because scams usually have more that one tell tale sign.

[paxmao]

This project is overhype. And their bounty program most likely allow newbie which i see as a spam. They maybe reach their ICO goal but i'm skeptical that this could be a huge money grab from them. Their project being not OPEN SOURCE is a big red flag.

Agree. I search google for them and there are tons of red flags and it is not looking good at all. Probably a scam ar at least project with no future.

Dear newby user, could you point out those "tons of red flags" , whatever a red flag means for you. (hint: a red flag is not a scam sign , is just a clear flaw in the business proposition).

[paxmao]

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

You don't need 300M USD, in fact you need less that 1 M, what the f*ck, just hand me 10k and I can do that myself. But what you can't fake is having a real and verifiable team behind, investors and advisors + all the signs of being legit.