[ANN] [XBS] Bitstake | For everyday digital currency tasks ---- SCAM!!!! BEWARE

[rakesh1_90]

Xbs- Bitstake thread has been locked by the moderator when his scam was detected and put in the open.

This thread is only created for awareness so that developers like the one in bitstake do not steal from new entrants in crypto world giving crypto and bitcoin in whole a bad name!

[1714064841]

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[1714064841]

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[rakesh1_90]

The posts are being deleted on the XBS PAGE according to convenience. SO PLEASE BEWARE!

DO REFER THIS VERY INFORMATIVE LINK:-

https://bitcointalk.org/index.php?topic=921160.0

[rakesh1_90]

No answers to this questions and still deleting posts......

We are the first start-up in Africa to launch our services with in built digital currency. We opened our platform to testers due to the demands on this forum, our services are created and designed for Africans based on the situation there namely internet connections and no access to payment system. trading with fiat is for Nigerians customers only. None of bitstake team members has forced you to buy XBS coins or scam you out of your coin holdings.

This is not a community coin, that developers will be telling you all aspects of our management, this is profit driven business with the sole purpose of getting more customers and releasing features that will generate more revenues. Business plan & whitepaper are available to VC or angel investors that are interested in the business. We are not raising any funding now.

Facts:

1. Launched without premine or presale to ensure fair distribution.
2. designed for adoption in Africa, with convenience way to buy coins, lend/borrow coins, store and earn interests on digital currency.
3. Created online presence in Nigeria with plans to place ad on popular websites. (nairaland, lindaikeji)
4. sign up bonus for first 1,000 customers will be given in Naira, to boost customers base and introduce Nigerians to digital currency.
5. Received remarkable feedback from venture capitalist and angel investors. "I'm very impressed by what you've built so far and will be sure to keep the information on your company internal for confidentiality purposes."  Julian
6. Privately funded development by African entrepreneur.
7. Planned expansion across African continents.

Why not use www.utokendealers.com then? Its way way better than this scam XBS scheme!

Who is the investor you are mentioning about in africa? Where are you located? Who are you?

How do we trust you with all our coins, Why should we use your platform? Do you have the platform insured? If yes then for how many dollars and through whom?
Can we see the documentation of your registered company?

Is this entrepreneur who has interest in the platform a Terror outfit or a Diamond smuggler? What if he turns out to be one who just wants to smuggle money to spread terror in the war torn NIGERIA?

How do we trust him or you in any matter relevant with security of our investments or the trading platform?

Show us details ? I bet you never thought about all this reciprocations?

Either you are a scam- that is 99% you are !!!

Or your project will run into DEEP DEEP shit!

[rakesh1_90]

Forum again locked and my messages deleted.

[rakesh1_90]

Do NOT INVEST IN XBS ====100 % SCAM

[Piston Honda]

pretty much, yeah.

well i see two things happening by the first week of april...

1 - the price will go from 15k sats now back down to ICO of 5k *(or less) and they have got away with another scam of BTC from ppl and a load of BS.

2 - whoever is holding/accumulating will pump this coin on that major april news and it will fly but only for 'so long' until they all dump and people are left bagholding (see #1)

so shit will hit the fan either way for ppl.

[solid12345]

1 - the price will go from 15k sats now back down to ICO of 5k *(or less) and they have got away with another scam of BTC from ppl and a load of BS.

There wasn't an ICO for Bitstake.

[RenegadeMan]

See latest collection of exposing information about this dreadful scammer here:

https://bitcointalk.org/index.php?topic=1041206

[tokeweed]

You guys lost money again? 

  * Never buy at the top. 

  * When you got in right, always be ready to sell for a profit even if it continues going up.

  * When a trade goes against you, be prepared to sell and take a small loss.

  * And remember, these are Pump and Dumps.  These coins have no real value.  Its price is derived from the
     laws of supply and demand.

  * Bottom line, this is trading, not investing.  You are bound to lose money from time to time.

[solid12345]

You guys lost money again? 

  * Never buy at the top. 

  * When you got in right, always be ready to sell for a profit even if it continues going up.

  * When a trade goes against you, be prepared to sell and take a small loss.

  * And remember, these are Pump and Dumps.  These coins have no real value.  Its price is derived from the
     laws of supply and demand.

  * Bottom line, this is trading, not investing.  You are bound to lose money from time to time.

It would be less offensive if the Bitstake dev wasn't going around hawking their bogus platform to the media, it ends up making crypto look bad as a whole.

[RenegadeMan]

You guys lost money again? 

  * Never buy at the top. 

  * When you got in right, always be ready to sell for a profit even if it continues going up.

  * When a trade goes against you, be prepared to sell and take a small loss.

  * And remember, these are Pump and Dumps.  These coins have no real value.  Its price is derived from the
     laws of supply and demand.

  * Bottom line, this is trading, not investing.  You are bound to lose money from time to time.

It would be less offensive if the Bitstake dev wasn't going around hawking their bogus platform to the media, it ends up making crypto look bad as a whole.

Yes. The guy is clearly creating a lot of interest and (along with people like DrMikeHashTag) pulling a lot of newbs into the trap. Even after yesterday's further revelations that the whole thing's just an obvious facade and there's no substance under the covers, people are still madly buying and selling XBS on Bittrex today. He (the dev) even tweeted the Mark Twain quote "It's easier to fool people than to convince people they've been fooled" and yet still, the believers chose to read this as him talking about the FUDer's fooling the investors! You can't win with people that have been so blinded by their hope they've bought into a moon rocket.

(good advice tokeweed. Fortunately I neither lost nor won on this but a lot of people will have been badly burned)

[tokeweed]

You guys lost money again? 

  * Never buy at the top. 

  * When you got in right, always be ready to sell for a profit even if it continues going up.

  * When a trade goes against you, be prepared to sell and take a small loss.

  * And remember, these are Pump and Dumps.  These coins have no real value.  Its price is derived from the
     laws of supply and demand.

  * Bottom line, this is trading, not investing.  You are bound to lose money from time to time.

It would be less offensive if the Bitstake dev wasn't going around hawking their bogus platform to the media, it ends up making crypto look bad as a whole.

Another lesson

  *  When a dev goes hawking around the media, talking up their new coin/platform/technology, be careful.  It's usually hype, especially in the   
      crypto scene.  Nothing here has any real value.  Only "promises".  Always refer back to the coin's price action and the charts.

[bumpk1nK]

yep looks like a scam to me.,. I put in 200$ a few days ago and now all its worth is $80. Ive chalked it up to a loss and am moving on. It does feel bad tho because I thought the bitstake team was serious and legit when really they are lying little fuckers.

[tokeweed]

yep looks like a scam to me.,. I put in 200$ a few days ago and now all its worth is $80. Ive chalked it up to a loss and am moving on. It does feel bad tho because I thought the bitstake team was serious and legit when really they are lying little fuckers.

It's not even about that.  What if the Bitstake team was really serious about the project?  What if they're really capable devs?  It's about the crypto-scene as a whole.  It relies on the future potential value of the project: promises, and on the laws of supply and demand: trading.  

Oh, and don't forget that cryptocurrencies are not regulated, these pumps are mostly manipulated, usually by the people behind the project themselves.  As a trader, you should be happy.  It's an opportunity to make some profit.

[RenegadeMan]

yep looks like a scam to me.,. I put in 200$ a few days ago and now all its worth is $80. Ive chalked it up to a loss and am moving on. It does feel bad tho because I thought the bitstake team was serious and legit when really they are lying little fuckers.

Unfortunately its "Nigerian". Now I'm not sure where you're from but I'm guessing if it's any regular western nation and you hear about some great opportunity to invest in something with very high returns that's Nigerian based, what's your typical first reaction?


Hang onto your XBS for a bit. The way they're running this thing the price is likely to climb back up and you might even get out with minimal loss.

[tokeweed]

yep looks like a scam to me.,. I put in 200$ a few days ago and now all its worth is $80. Ive chalked it up to a loss and am moving on. It does feel bad tho because I thought the bitstake team was serious and legit when really they are lying little fuckers.

Unfortunately its "Nigerian". Now I'm not sure where you're from but I'm guessing if it's any regular western nation and you hear about some great opportunity to invest in something with very high returns that's Nigerian based, what's your typical first reaction?


Hang onto your XBS for a bit. The way they're running this thing the price is likely to climb back up and you might even get out with minimal loss.

Yup he's right, you're a bag holder now.  You shouldn't have held it for as long.  Next time, sell and take a small loss.

[solid12345]

Sorry, still not buying this "it's just trading" business.

I'd much rather buy a legit coin at a $1 million market cap that climbs to $20 million with lots of liquidity then a weekly logocoin at $30k that reaches a $90k cap with no liquidity. 

Let's say it for what it is, It's not trading, it's gambling. And the fact no one wants to pour money into good alts and instead scams is why we don't see big market caps anymore, it's just people fighting over bitdust and scraps at this point.

[bumpk1nK]

yep looks like a scam to me.,. I put in 200$ a few days ago and now all its worth is $80. Ive chalked it up to a loss and am moving on. It does feel bad tho because I thought the bitstake team was serious and legit when really they are lying little fuckers.

It's not even about that.  What if the Bitstake team was really serious about the project?  What if they're really capable devs?  It's about the crypto-scene as a whole.  It relies on the future potential value of the project: promises, and on the laws of supply and demand: trading.  

Oh, and don't forget that cryptocurrencies are not regulated, these pumps are mostly manipulated, usually by the people behind the project themselves.  As a trader, you should be happy.  It's an opportunity to make some profit.

I would have been happy if I made some money here but as a trader it looks like Im just going to lose money here!

[bumpk1nK]

yep looks like a scam to me.,. I put in 200$ a few days ago and now all its worth is $80. Ive chalked it up to a loss and am moving on. It does feel bad tho because I thought the bitstake team was serious and legit when really they are lying little fuckers.

Unfortunately its "Nigerian". Now I'm not sure where you're from but I'm guessing if it's any regular western nation and you hear about some great opportunity to invest in something with very high returns that's Nigerian based, what's your typical first reaction?


Hang onto your XBS for a bit. The way they're running this thing the price is likely to climb back up and you might even get out with minimal loss.

'

Thanks man and I will hold them for a bit longer but you are right. Nigerian scams are all over the place and the chances of this project being real and truthful is weak at most. Thank god I got into Slingcoin at 38000 because today she hit 83000 so atleast I have made back what I lost.

[tokeweed]

Sorry, still not buying this "it's just trading" business.

I'd much rather buy a legit coin at a $1 million market cap that climbs to $20 million with lots of liquidity then a weekly logocoin at $30k that reaches a $90k cap with no liquidity. 

Let's say it for what it is, It's not trading, it's gambling. And the fact no one wants to pour money into good alts and instead scams is why we don't see big market caps anymore, it's just people fighting over bitdust and scraps at this point.

Ah.  In that case, just avoid.  No one is forcing anyone to do anything here.