Minereum- Another Ponzi Scheme ?

[ahmedtanjid]

You probably know about Minereum Genesis Address. They recently upgraded their platform from V1 to V2. You can find their V2 launching details here : https://bitcointalk.org/index.php?topic=4495159.0

Now come to the point, I haven't fully understand their system and it works. They had launched a airdrop where 32000MNE were given to each genesis address. These genesis addresses are in lv1. They have three step genesis level. To upgrade from lv1 to lv3 anyone have to pay 0.3ETH + Network Fee. If you think you can use those 32000MNE after upgrading to lv3, heil No. You can't sell them to exchange (The only exchange that list MNE is Livecoin). After Upgrading your wallet could mine MNE which can be transferred to exchange and sell. Find more information about genesis level here : minereum.com/v2


Now they have introduced a lucky draw system. This lucky system requires to purchase a ticket+MNE as gas fee. Find the thread here : https://bitcointalk.org/index.php?topic=4495159.msg54249637#msg54249637

So, it seems like they're in thirst of ETH. Is it an another ponzi scheme ?

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[Balladtony77]

Thanks for creating this topic, it almost escaped my mind to make a topic about the project called Minereum on here, today I decide to use ether scan to check my eth address and I find a whopping 470$ worth of Minereum, I felt like  , but after a while I find out that I need to upgrade my eth address to LV 2 or LV3 which will cost roughly 57$ worth of Eth, that's 0.3ETH and that's where I decide to leave the group and I dropped a message on the group that

All this have been a well planned scam right from the beginning

You probably got very happy that your token worth 400$ plus and won't make you think twice to upgrade your address which will cost you just 57$, hmmm, great trick Minereum team, a round of applause for you guys.

Whenever you see a Airdrop giving out too much quantities of tokens don't think twice, it doesn't make any sense, I noticed this right from day one before joining the Airdrop but since the claiming task is very easily I just give a try out.

When things are too easy please stay out, hope newbies learned from this

[Balladtony77]

For this I'm listing Livecoin.net as a scam exchange to the list of p2pb2b and co, I hope people learn from this scam project, learn to only take and not give will safe you alot unless you are a greedy bastard, for online business greediness ruins you fast

[ahmedtanjid]

Thanks for creating this topic, it almost escaped my mind to make a topic about the project called Minereum on here, today I decide to use ether scan to check my eth address and I find a whopping 470$ worth of Minereum, I felt like  , but after a while I find out that I need to upgrade my eth address to LV 2 or LV3 which will cost roughly 57$ worth of Eth, that's 0.3ETH and that's where I decide to leave the group and I dropped a message on the group that

All this have been a well planned scam right from the beginning

You probably got very happy that your token worth 400$ plus and won't make you think twice to upgrade your address which will cost you just 57$, hmmm, great trick Minereum team, a round of applause for you guys.

Whenever you see a Airdrop giving out too much quantities of tokens don't think twice, it doesn't make any sense, I noticed this right from day one before joining the Airdrop but since the claiming task is very easily I just give a try out.

When things are too easy please stay out, hope newbies learned from this

That what I'm also thinking, just give a try. But seems like they are too hungry for ETH. So also left their channel.

[jacafbiz]

It is very early and  difficult to judge Minerium project now, though their new design seems like a ponzi design which is to make the team and their stakeholders rich but there is a point that you need to have a skin in the game. They have done all the necessary thing they need to do and is trading on exchange. I just feel the team has so much credits now with the success of their first Airdrops which was very successful and they are still here as compare to many airdrops that they developers have dumped and gone

[FireBallex]

I'm not surprised, when I came across the Airdrop, it was so suspicious because the team said Airdrop hunters can join with multiple ethereum address, If the project is legit they will never accept multiple accounts, it was a big plan all along

[ahmedtanjid]

though their new design seems like a ponzi design which is to make the team and their stakeholders rich

Yes off course a little time can't judge any projects. But with these short time, what they introduced are solid ponzi. Can you figure out how much eth they will earn from this scheme It doesn't matter for them about token. In my opinion they are in thirst of ETH.

Let's see what will happen in next. I will keep my eye on this project. And also Livecoin is not a good exchange at all. They also have acquisition for fake ICO.

[ahmedtanjid]

I'm not surprised, when I came across the Airdrop, it was so suspicious because the team said Airdrop hunters can join with multiple ethereum address, If the project is legit they will never accept multiple accounts, it was a big plan all along

Exactly, I also think it was a preplan since 2017.

[skeleto88]

If that is the case then the project is definitely going to be a scam and the Team are just using MNE high price to bait it users. 32 MNE airdropped valued of whopping $400+ how come a starting project would give such a high rewards for number of participants.

[joinfree]

When I saw this project in the very first place I knew something was going to get shady along the line. I'm glad it did not take long to see them pulling this old trick of ponzy schemes. I think it's high time people really learn more about project before investing and stop falling for shouts of moon in the upcoming days. Let's always try and do our best to do a good background search about any coin before we decide to invest in.

[nreal]

This is not a Ponzi scheme, when they do not use one person's money to pay the other, they use the token they create. You will have to pay ETH to receive a worthless token that can only be traded on a bad exchange

[Denongels]

I don't know, I don't really understand this token, but it seems like it can be said that ponzi can be, because a lot of people who use multi-wallet easily to get lots of tokens, and this token is only listing on livecoin and as you know the exchange has volume problems and if it's a good project they shouldn't have listed to this exchange.

[thesmallgod]

I am just wondering if no one on their telegram group have really testifying to getting his/her money after paying the fee to upgrade or has anyone also complain of not getting access to his/her balance after paying the upgrading fee. If no one, I guess everyone is afraid to take the risk making it difficult to conclude that the project is a scam. We need people to testify that they are being scammed and if we see anyone, Livecoin too should be tag as an exchange that support scam project just like DOBI and co

[20kevin20]

It was an obvious scam from the moment they said they're giving almost $300 for free per address. Anyone who thought this was real is a bit silly! I wish this was real, but come on, in less than 30 minutes I can supposedly claim a free $30k..

Look at the history of these "free money coins": KICK, MNE etc. They're all going for the same technique. The saddest part is that many fall for the scam. People play their game without even looking at the first Minereum airdrop to see they had absolutely no development.

If it seems too good to be true, it most likely is.

[poodle63]

This is not a Ponzi scheme, when they do not use one person's money to pay the other, they use the token they create. You will have to pay ETH to receive a worthless token that can only be traded on a bad exchange

lol that's the same as a ponzi when the developer is using a scheme to fool the receiver. To open this crap coin and the users must have paid some amount of ethereums and that sucks. The developer or i can say scammer is always deleting any bad comment on its announcement thread. This is a scam.

[itsv]

You can't use them per se, In order to do that you would have to upgrade to a level 3 address by paying a fee then you would self-mine 1,84 MNE per day the process would take 48 years to mine all 32000 coins. so pretty much useless.

For this I'm listing Livecoin.net as a scam exchange to the list of p2pb2b and co, I hope people learn from this scam project, learn to only take and not give will safe you alot unless you are a greedy bastard, for online business greediness ruins you fast

Well i have used livecoin in the past and it's an old exchange.  So not sure why they listed this project. 

[Tipstar]

Livecoin exchange and Yobit are infamous in listing ponzi coins. They have a number of unknown coins that only exist in the exchange. Some of them doesn't even have a blockchain or explorer and are tradeable only on the exchange and not withdrawable.
And any investment promising a 2%+ fixed monthly return would certainly be a ponzi.

[ahmedtanjid]

This is not a Ponzi scheme, when they do not use one person's money to pay the other, they use the token they create. You will have to pay ETH to receive a worthless token that can only be traded on a bad exchange

It's all same to ponzi scheme. Unlike regular ponzi scheme they used some tricky scheme which relates ponzi. There's no development since 2017 when the first version of minereum launched. So, it is no other than a scam.

[fvb]

I also received tokens in my wallet.  I don’t even remember about this airdrop and when it was made.  Indeed, it is like a false move.  Initially, everything looked very suspicious.

[Convery]

They developed a well earning token, but it works only for developers, at first they distribute "free" tokens, but if you would like to use them / take profit, you need to pay, quietly smart idea how to attract people to buy your useless token.