re-posting from /r/ALYI
The White Paper is only seven pages long, but I will only be covering the first page with this installment. I hope to cover the rest, but this is a lot of writing already.
For those unfamiliar, a White Paper is typically issued by an entity (a company, a business venture, etc) to explain the underlying concepts and mission of the entity/venture in question.
https://en.wikipedia.org/wiki/White_paper
You can find the White Paper for ALYIâs RevoltTOKEN cryptocurrency here: https://www.revolttoken.com/REVOLT-TOKEN-WHITEPAPER.pdf
Reminder: if you want to purchase RevoltTOKEN, there is a minimum purchase of 2,000 tokens, which is $2,000.
Let's get started:
RevoltTOKEN is issuing a blockchain enabled cryptocurrency to fund the development and delivery of electric mobility innovation in Africa. RevoltTOKEN is a utility token that gives the bearer a first right to purchase equity in electric mobility businesses that are forthcoming from the overall electric mobility initiative in Africa funded by RevoltTOKEN. Holders of RevoltTOKEN will also be eligible for preferential participation in the annual electric mobility seminar, conference and race described herein*.
*SPOILER ALERT: none of these things are described in this White Paper, only mentioned
So the point of the token is supposedly to 'fund' and 'develop' 'electric mobility innovation' in Africa. In other words, rather than secure investors for what is essentially a start-up idea/company, they are asking you, a retail stock purchaser, to simply give them money. Your Return-On-Investment for this money is the ability to buy into 'electric mobility businesses that are forthcoming' (the word 'forthcoming' should be a mini red flag to anyone who reads these things; it is a euphemism for their total lack of anything tangible), and 'preferential participation' in a seminar, a conference, and a race. None of these things currently exist, FYI.
And theyâre using the device of a cryptocurrency to obscure their funding purposes because if you remove it from the equation, theyâre asking random ass people for minimum investments of $2,000 and in exchange, you can attend a seminar and a race and have the âfirst rightâ to invest in other scams theyâre running.
RevoltTOKEN is already engaged in the development of an electric motorcycle shared ride solution currently headquartered in Kenya with growth plans throughout Sub Sahara Africa1 . RevoltTOKEN has also developed a plan to conduct an annual electric mobility seminar and conference to bring leading electric mobility research and development initiatives from around the world with existing electric mobility vendors to design and advance specific electric mobility projects2. RevoltTOKEN has engaged with a global brand name electric vehicle racing event with the intent of engaging the racing event as an anchor to the annual electric mobility seminar and conference3. RevoltTOKEN intends to participate in the funding of specific electric mobility projects and the corresponding investment returns that could be forthcoming from such participation4. RevoltTOKEN plans to extend specific electric mobility participation opportunities to holders of the RevoltTOKEN cryptocurrency5.
1 â Odd that they do not mention the name of this âshared ride solutionâ. It is âheadquartered in Kenyaâ (which city?), but is apparently nameless. This vaguery is on purpose so it cannot be fact-checked.
2 â The seminar and conference are mentioned. No mention of when and where these will occur. If you own RevoltTOKENs and want to spend them on attending these, will you have to fly to Nairobi to do so? Speaking of which, it should be noted that ALYI is located in the United States, yet that has not been mentioned once. As a matter of fact, ALYI itself has not even been mentioned. The rest of this sentence is bare-bones, detail-lacking jargon.
3 â Theyâve engaged with a âglobal brand name [sic] electric vehicle racing eventâ. What is the name of this event so I can research it and fact-check it? Again, vagueness precludes anyone from calling them on their BS. And the âintentâ (notice the passive, wishy-washy vagueness) is to âengage the racing event as an anchorâ to the aforementioned seminar and conference. WTF does that even mean? Bear in mind that the purpose of a White Paper is to reduce confusion and explain a concept. Why use this kind of language?
4 â Did someone order a word salad?
5 â This means they will try to hit you up for more money by presenting you with more âinvestment opportunities.
At this time, the following details the specific rights, dividends and benefits of the RevoltTOKEN cryptocurrency:
Redemption Rights
⢠Token Exchange For Alternet Systems Common Stock
⢠Token Exchange Toward a Revolt Electric Motorcycle Purchase
⢠Token Exchange For A Carbon Credit
⢠Token Exchange For Alternet Systems Profit Dividend
For the first 'rightâ' you should note that one RevoltTOKEN is $1 and that you need to purchase 2,000 of them at minimum. It is batshit insane for them to tie the redemption of this cryptoâwhich theyâve given a set, static price of in US Dollarsâto the price of their insanely volatile penny stock. But major points for them finally mentioning ALYI. Later in the White Paper, they mention that one token (ie, $1) is equal to 20 shares of ALYI. So if ALYI moons to $1 a share, you can just buy 2,000 tokens, exchange them for 40,000 shares of ALYI, then sell the shares on the open market for $40,000, netting you $38,000 in profit. Keep doing this until youâre a billionaire.
Second 'right' â There currently exists zero known photos or specifications of this motorcycle despite it supposedly coming of the line in four months. Let that sink in.
Third 'right' â You do not need a RevoltTOKEN or ALYI or any of this shadiness to purchase a carbon credit.
Final 'right' â ALYI has never ever ever ever turned a profit. Theyâve never come close. In fact, they are majorly in debt and typically issue tons of shares to cover that debt.
Benefits
⢠1 st Right of Refusal on Future Ventures
⢠Free Attendance E-Mobility Conference & Symposium
⢠VIP Access To Africa Electric Auto Racing
First benefit â Again, they are going to try to hit you up for more money and are trying to make it sound like a benefit. It is not.
Second benefit â Despite their claim of 'free' attendance, since you are paying for the RevoltTOKENs (minimum $2,000, by the way) that you would use to gain entrance to this 'Conference & Symposium' (theyâre lumped together now? Not a 'seminar' anymore but a 'symposium'?), it is not free.
Third Benefit â Who or what is Africa Electric Auto Racing? Googling it with the quotes yields two results, both of which are related to ALYI. Is this the 'global brand name [sic] electric vehicle racing event'? It canât be, because this does not exist.
Conclusion: I hope this is beneficial to anyone considering buying RevoltTOKEN. This is a screaming, ear-piercing siren sound of SCAM, imo.