Is Ethereum digital currency a fraud
Ethereum energy coin is not MLM
Ethereum is an open source public blockchain platform with smart contract function. Ethereum provides decentralized virtual machine (Ethereum virtual machine) to process point-to-point contract through its special cryptocurrency Ethereum
in 2013, vitalik buterin, 19, first mentioned the idea of Ethereum in a book entitled "Ethereum white paper: next generation intelligent connection and decentralized application platform". Then, in 2014, the algorithm and protocol of Ethernet coin were officially implemented, and $150 million was raised. The system itself was finally completed on July 30, 2015
as the representative of blockchain 2.0, the mainstream currency Ethernet is regarded as the wind vane of crypto digital currency market. However, over the past week, the price of ether currency has continued to fall. On August 14, 2018, the ethereal currency plummeted by 20%, reaching a record low of $257 this year. Compared with this year's peak of $1295, the price of Ethernet currency has shrunk by more than 80%. Affected by this, on August 15, 2018, none of the top ten mainstream currencies in the digital money market was spared, falling across the board, with a number of single day declines exceeding 10%
extended data
Ethereum started planning almost in 2013, and started to implement the project in 2015. Before that, there were many digital currencies imitating bitcoin in the market, and they made various modifications on the basis of bitcoin code. In this way, it is very difficult to develop a new blockchain application, to re deploy a new chain, and then to develop an application on this chain. Using a consensus mechanism of pow alone is a huge maintenance workload. It's like developing an app on a mobile phone and developing the Android system together
after Ethereum comes out, it is equivalent to the underlying operating system of the blockchain. On Ethereum, it is very convenient to develop various dapps without considering the underlying development, and it can also share the computing power and storage of Ethereum. For programmers, the threshold of blockchain development is lowered instantly. The emergence of Ethereum has played a very important role in the development and popularization of blockchain applications. That's why Ethereum is called blockchain 2.0
The monetary gold and silver Bureau of the people's Bank of China issued the "risk warning on issuing or promoting digital currency in the name of the people's Bank of China". In the risk warning, the central bank stressed: our bank has not issued legal digital currency, nor authorized any institutions and enterprises to issue legal digital currency, and there is no promotion team. At present, the so-called "digital currency" in the market is not legal digital currency. The central bank stressed that the so-called "digital currency" launched by some institutions and enterprises and the so-called promotion of the central bank's issuance of digital currency may involve pyramid selling and fraud
if you are interested in more anti fraud information, you can pay attention to my "Laohan anti pyramid scheme", which will continue to update the inside routines and reveal the secrets of pyramid scheme. I hope you can be more vigilant and stay away from the pyramid scheme
First of all, we need to understand what is MLM:
MLM refers to the illegal behavior of organizers and development personnel to obtain wealth by calculating and paying remuneration to the developed personnel based on the number or performance of the personnel directly or indirectly developed, or requiring the developed personnel to pay certain fees to obtain the qualification to join. The essence of MLM is "Ponzi scheme", that is to say, the money of later comers is distributed to the income of former comers
However, the new type of MLM does not restrict personal freedom, does not accept ID cards and mobile phones, and does not take classes collectively. Instead, it uses capital operation as a banner to pull people to cheat money, drives luxury cars, wears gold and silver, and uses money to attract your relatives and friends to join in, and finally makes you lose all your moneythen judge whether the ether coin is a kind of MLM, whether you need membership fee, whether you need to ask your relatives and friends to join
extended materials:
Ethereum is an underlying technology platform on which developers can create distributed applications. With the application, there will be transactions. With a transaction, you need money to complete the transaction. In this way, money has value, and investors' investment has a return. If the transaction volume on the platform is larger and larger, the demand for money will be higher and higher, and the money will be more and more valuable
from the perspective of image, bitcoin creates a kind of digital gold, while Ethereum creates a country, and Ethereum is the credit currency of the country
after bitcoin, there are thousands of digital virtual currencies in the world, many of which are completely deceptive in the guise of "digital currency". Previously, Haikou Municipal Public Security cracked down on a pyramid selling organization called "Eurasian currency", which operated on the internet pyramid selling platform, making more than 40000 investors cheated, involving 4.06 billion yuan. The field of virtual currency has just started, so we need to be cautious
resources : Ethernet money network
1、 According to the information "LCC" provided by you, we find the following items:
1. Litecoin cash / LCC
Introction: litecoin cash is a split currency with a block height of 1338540. It is committed to bringing a reliable currency to the world and practicing the original lightcoin as "bitcoin, We also provide reliable transaction confirmation with low handling charges between businesses and users. The successful example of bitcoin cash will also light up the future of lightcoin cash
online exchanges: 6
issuing time: February 22, 2018
2. Digital blockchain / LCC (digital chain)
Introction: Digital blockchain (digital chain / LCC) is committed to developing the third professional blockchain ecosystem besides bitcoin and Ethereum, Digital chain realizes the point-to-point value of traditional digital assets, such as bitcoin, Ethereum and other encrypted blockchain technologies, such as data assets, domain names, network accounts and mobile phone numbers, through value transfer protocol
the goal of digital chain is to become a dedicated public chain platform for global digital assets, explore the combination of digital assets and blockchain, and improve the liquidity, security and value of digital assets
online exchanges: 0
issuing time: November 18, 2017
2. To judge whether a project is safe and deceptive, we can start from the following aspects:
1, white paper
to see a project, the first thing to see is the white paper of the project, which is very important. Usually, the white paper of the project will show the instry demand background, technical background, team information, instry pain points solved, investor relations and the future development plan of the project, etc. When you read the white paper carefully, you will have a clear understanding of the projects you invest in
2, team, consultant and platform boss
we know that investment projects in the investment field, in many cases, will look at people, and investment projects are mostly the founders and teams of investment projects. The blockchain technology talent market is very scarce. Under normal circumstances, there should be senior technical experts in the excellent team. Users must know the relevant information through multiple channels when looking at the project team members. If the project has a star or instry tycoon platform, you should be careful to avoid exaggeration or false publicity of the project
3, whether the project application solves the problem
after having a general understanding of the project, we need to combine with the real background of the instry where the project is located to deeply analyze whether the project has solved some problems of the instry, and whether the application scenario of the project is real and feasible. If the viewpoint of the project is far from the needs and problems of the instry, you should be careful about this project
4. Project code submission Review
users who know a little bit about technology can see the degree of team code submission. If they come out to raise funds without even code, the risk of the project is great
5, the degree of technological innovation of the project
on the level of technological innovation, we need to see whether the project gives full play to the technical advantages of the blockchain, whether there is innovation and whether it is open source. Generally, open source projects will be uploaded to githob. As for the common problems at the bottom of the blockchain, how the project side solves and plans them
6. Pay attention to the fund-raising situation of the project
we can have an in-depth understanding from the following aspects: whether the total amount of fund-raising of the project is reasonable, whether there is excessive additional issuance, whether the token allocation of the project is reasonable, whether there is a record on the official website, whether the team members make fraud, etc
7. Online trading platform
we can also make lateral judgment through the online trading platform of the project. In general, the well-known trading platform has a strong review on the project. If the project is launched on a small trading platform, or even a trading platform that has never heard of, it needs to be treated with caution
8. Refer to the opinions of the third-party project rating agencies
at present, there are not a few third-party project rating agencies in the market. We can refer to the suggestions and opinions of the third-party project rating agencies on the project as a channel for us to understand the project. It is possible that the project rating agencies have different scoring systems for projects, but their final results will not have a big gap, which can be referred by many parties
Foreword: e to the hot investment in blockchain projects, many cheaters smell the opportunity, which will make many new participants suffer great losses. The author of this paper, febin John James, shared how to identify fraud, hoping to help everyone protect themselves. Before making any investment decision, we need to do a careful investigation. This article is from hackernoon.com and translated by Guo Zhixing, a blue fox note taking community
I don't know how many people like me have received fraulent text messages like "congratulations on winning a $500 computer...", and "congratulations on winning...", but in the end, they are all scams, without exception
all these years. Internet scams will never die out, they just keep changing their forms. In fact, every new technology is accompanied by new scams. Technological innovation makes fraud easier and easier, because under the protection of new technology, it is more and more difficult to track down cheaters
in the digital currency world, there are three common scams that you need to be alert to:
1. False ICO
ICO, also known as "initial public offering of token", refers to the behavior of blockchain project issuing token for the first time to raise general cryptocurrency such as bitcoin and Ethernet coin. Often through ean's mail, they enter into all kinds of I c o telegram groups. Many projects attract investors' attention by way of free token. If I enter the telegraph group of a project, the first sentence of the project side is "how much do you want to invest?", I'll pull it black right away. Maybe they are not cheaters, but they should talk more about their project vision and procts before they let me invest
before you decide to invest in a project, ask the project owner what problems they want to solve. If they are confused by your technical terms, it's better to leave. Search engines can be used to search whether the project party has ever published content related to digital currency and blockchain. I often judge the quality of the project based on their previous words
cheaters either don't have content, or spend money to write for others, and the quality is usually very low. But also remember, the project team has "big guy", does not mean that the project quality is good. First of all, we need to confirm whether the "big guy" is real or not. Forgery is too simple. V-god, the founder of Ethereum, has been involved in projects he has never heard of
2. Fake information
forgery is a common trick of swindlers, such as pretending to be someone else. It's too easy to open an account on public media. It only takes a few minutes. For example, on twitter, there are many fake accounts disguised as the founder of Ethereum
example: git account with high reputation ((metamask team)
risk warning: all articles of blue fox do not constitute investment recommendation and investment is risky. It is suggested to conct in-depth investigation on the project and carefully make their own investment decisions
wants to get a deeper understanding of the block chain, and pay attention to the official account of "blue fox note" block chain: lanhubiji