Minereum- Another Ponzi Scheme ?

[Inosend]

Thanks for this pieces of information I actually received this token in two of my Ethereum wallet but when I tried to transfer them to live Coin exchange find out that the wall was on maintenance, but from what am seeing here it means I have to upgrade and start mining first before I can even think of selling lol

[Jating]

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 ?

If you have to pay to upgrade your level then definitely this is a Ponzi scam to me. You can also check this old post here: https://medium.com/@Dave_Appleton/is-this-a-phishing-scam-119e68ce2f40

So yes, very suspicious and shady move so I would advise everyone to be very very careful as this might blow in the next coming months.

[torrantz]

Thanks for this pieces of information I actually received this token in two of my Ethereum wallet but when I tried to transfer them to live Coin exchange find out that the wall was on maintenance, but from what am seeing here it means I have to upgrade and start mining first before I can even think of selling lol

You're right. after you have you unlocked your wallet and you need 30 years to get all of your airdrop tokens which is not a recommended thing to participate in this scam airdrop. The developer was only aiming to get a lot of ethereum as much as they can from the participants or people who paid to unlock this crap token

[Bonwin]

The OP has bailed a lot of people and has saved them from falling victim of this scam project.
This is nothing but a pure scam.
I was told that some people received the token and at a point, I was so furious with myself that I missed it, but later, I got over it and see it as one of those inevitable things. Later one of them tried to send it to the exchnage but failed with several attempts.
You post OP, and is an eye-opener and will help those who received it to stay clear of the scam project.
How will someone ask for such amount of ETH, if it is not truly a Ponzi scheme...

[ahmedtanjid]

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. 

Basically you can't sell your initial 32000 MNE airdropped token whether you upgrade to lv3 or not. After upgrading to lv3 your Genesis address can start mining. These minned tokens can be sold afterward.

[ahmedtanjid]

Thanks for this pieces of information I actually received this token in two of my Ethereum wallet but when I tried to transfer them to live Coin exchange find out that the wall was on maintenance, but from what am seeing here it means I have to upgrade and start mining first before I can even think of selling lol

Yes exactly, before start mining you must've upgrade your genesis address. The minned tokens can be sold afterward, not the initial given 32K MNE.

[thesmallgod]

The OP has bailed a lot of people and has saved them from falling victim of this scam project.
This is nothing but a pure scam.
I was told that some people received the token and at a point, I was so furious with myself that I missed it, but later, I got over it and see it as one of those inevitable things. Later one of them tried to send it to the exchnage but failed with several attempts.
You post OP, and is an eye-opener and will help those who received it to stay clear of the scam project.
How will someone ask for such amount of ETH, if it is not truly a Ponzi scheme...

And now someone has tried and failed to get his token to exchange. This is a clear indication that the project is a fake and organized scam. I hope people will see the post and not fall a victim of the project

[ahmedtanjid]

The OP has bailed a lot of people and has saved them from falling victim of this scam project.
This is nothing but a pure scam.

It will take couple of decades to fully unlock the airdropped token after upgrading to lv3. So this is surely a pre-planned scam.

You post OP, and is an eye-opener and will help those who received it to stay clear of the scam project.

Thanks man. Hopefully people will see the post before thinking of upgrade.

[minairia3]

Ive heard about this minereum and they have some free tokens as well. But if upgrading for more chances of earning? I will think about that cause its really sound like another ponzi scheme.

I dont know if people will trust the level of this project but just be aware of the risk on such promises. From what I heard those 32k tokens are just like kickico tokens that cant be sell so techinically its just another marketing that you need to upgrade for withdrawal not going to fall foe that trick.

[ahmedtanjid]

Ive heard about this minereum and they have some free tokens as well. But if upgrading for more chances of earning? I will think about that cause its really sound like another ponzi scheme.

I dont know if people will trust the level of this project but just be aware of the risk on such promises. From what I heard those 32k tokens are just like kickico tokens that cant be sell so techinically its just another marketing that you need to upgrade for withdrawal not going to fall foe that trick.

Exactly you are. I saw a person in telegram speaking all the time on their behalf to people for upgrading. It seems like he/she is their agent. These are red-headed scammer.

[shoreno]

Ive heard about this minereum and they have some free tokens as well. But if upgrading for more chances of earning? I will think about that cause its really sound like another ponzi scheme.

I dont know if people will trust the level of this project but just be aware of the risk on such promises. From what I heard those 32k tokens are just like kickico tokens that cant be sell so techinically its just another marketing that you need to upgrade for withdrawal not going to fall foe that trick.

so if you upgrade your level the coins can now then be sellable ? lol thats strange and suspicious too at the same time.  i think i have seen a simillar of it before but it was some kind of miner where also needs upgrade before you can withdraw but once people upgrade they prolly cant still withdrew .

 op said it was an airdrop so they supposed to giveaway coins for free without having to require payment whatsoever.  

[btc_angela]

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.

For the record though, 'free money coins' from KICK has done because they have lost everything after SEC sue them, so they think why not airdrop 888,888 KICK, it's worthless anyways. As compare to MNE right now, which is very obvious, pulling a scam here by giving supposedly $300, but to be able to unlock it, you need to deposit first, which is the classic Ponzi script scheme.

[Actis]

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

yep do agree with you. this is a big well-planned scam

[Hippocrypto]

Ive heard about this minereum and they have some free tokens as well. But if upgrading for more chances of earning? I will think about that cause its really sound like another ponzi scheme.

I dont know if people will trust the level of this project but just be aware of the risk on such promises. From what I heard those 32k tokens are just like kickico tokens that cant be sell so techinically its just another marketing that you need to upgrade for withdrawal not going to fall foe that trick.

We've been through many challenges in crypto that involves many certain situations that had our finances at worst stages. Those failed promises brought everyone to learn from their mistakes, that's why we really need to be more cautious nowadays. If these people will have to trust those suspected ponzis, well it's their disgressions and no one will be blame but themselves.

[ahmedtanjid]

For the record though, 'free money coins' from KICK has done because they have lost everything after SEC sue them, so they think why not airdrop 888,888 KICK, it's worthless anyways. As compare to MNE right now, which is very obvious, pulling a scam here by giving supposedly $300, but to be able to unlock it, you need to deposit first, which is the classic Ponzi script scheme.

Still some people aren't as cautious that they need to be. I saw some people still upgraded their address to lv2 or even lv3.

[uw0t]

The way they wrote this is just trying to trick people. The grey font color doesn’t help either. Lol.

“Note that all Genesis Addresses have three limitations:
- They cannot receive any MNE
- They can only transfer the amount of MNE that was self-mined (Available Balance)
- Self-Mining only starts after Level 2 or Level 3 activation
Genesis Address Level 1
...
Genesis Address Level 2
...
Genesis Address Level 3
You CAN:
- Set your address for sale at the price you wish
- Transfer the Genesis Address to another address
- Self-mine (mining process only starts on Level 2 or Level 3 activation)
- Transfer MNE to another address
- Use the MNE Decentralized Trading
- Destroy your Genesis Address to buy/transfer stakes
You CANNOT:
- Receive MNE”

[patz22]

First of, I am not a supporter of this project, yes, I did receive their tokens but I will not upgrade to any levels to get any of this as in livecoin, it is already given that they are trying to pump this, make a hype so that people will fall for their trap but don't you think that is the worth of having their token? If they are working for the project and if you got vision as they do, do you think that it can be worth it in years? I don't know, again, I am not a supporter of this. Maybe, people are saying this because they only want FREE COINS?

[Retainly_Collie]

According to the price of this token in the market. Each airdrop is worth about $ 500. And we need to pay about $ 60 to be able to receive all of these tokens in the wallet. If it goes smoothly then this is definitely a good profit, but I believe this is just a ponzi and it is trying to deceive greedy investors.

[WalkerIVIV]

The way they wrote this is just trying to trick people. The grey font color doesn’t help either. Lol.

“Note that all Genesis Addresses have three limitations:
- They cannot receive any MNE
- They can only transfer the amount of MNE that was self-mined (Available Balance)
- Self-Mining only starts after Level 2 or Level 3 activation
Genesis Address Level 1
...
Genesis Address Level 2
...
Genesis Address Level 3
You CAN:
- Set your address for sale at the price you wish
- Transfer the Genesis Address to another address
- Self-mine (mining process only starts on Level 2 or Level 3 activation)
- Transfer MNE to another address
- Use the MNE Decentralized Trading
- Destroy your Genesis Address to buy/transfer stakes
You CANNOT:
- Receive MNE”

The level 1 is a crap and people can't mine their MNE. The developers were creating a rules to force the airdrop receivers to pay ethereum. This scheme is obviously a scam. Everyone must forget this and stay away. The first form of minereum was a big crap and the dev was aiming to scam people through this shitty airdrop.
The conclusion is people will unable to get their coins without paid the fees first.

[ahmedtanjid]

According to the price of this token in the market. Each airdrop is worth about $ 500. And we need to pay about $ 60 to be able to receive all of these tokens in the wallet. If it goes smoothly then this is definitely a good profit, but I believe this is just a ponzi and it is trying to deceive greedy investors.

Maybe you doesn't read their upgrade rules properly. You can't receive any MNE or sell. You can just self mine MNE when you upgrade to lv2. But when you upgrade to lv3 you can transfer the self-minned tokens. Everyday a genesis address can mine 1.82 MNE of given 32K. So, it will take couple of years to collect those 500$ land mark.