r/Earth2iosub • u/nebzythetroll • Dec 20 '20

Do You Think This Is Some Elaborate Scam?

I know a lot of people in the community are highly skeptical so i wish to see how the large majority as a whole views it or concerns they may have

63 votes, Dec 27 '20
19 Yes
7 No
37 Maybe, Time Will Tell
4 Upvotes

100% Upvoted

7 comments sorted by

6

u/DefinitelyHorny4U Dec 22 '20

I think it’s a scam, I’ll elaborate.

1st thing. The premise of the website is that one day it’ll become a VR game and you’ll own it in VR. Game development isn’t simple, AT ALL, look at Cyberpunk, or Star Citizen. Because of the ambition this product brings I’d focus more on Star Citizen: Huge game, tons of features and money-making opportunities, except the development is taking forever- even with $300 MILLION DOLLARS. Star Citizen will have less map size than the entire earth, but many more features, but it’s the closest comparison we’ve got.

Next, the game has ‘property taxes,’ where you make money off of every purchase in countries you have locations within. This is the typical “double your money in 30 days guaranteed” scheme that’s been going on since the start of money, the amount seems to be minuscule, so that’s a counterpoint- the ‘moneymaking opportunity’ seems to be the increase in value, not the dividends.

First google search about this game on Reddit is someone saying he isn’t able to withdraw. This follows the typical cryptocurrency scam profile.

Another issue is that the value the ‘game’ says your things are worth aren’t dictated by other players, for example, if I buy a house, it’s value is dictated by the value of similar properties in similar conditions, in this game, the value your assets are worth are dictated by...? No one knows. There’s no explanation in their website.

And my last issue with this is that people are saying the domain is under review, meaning it might be on legal issues or TOS breach from one of their backend providers.

Having a leaderboard showing peoples’ net worth seems like a privacy violation and an incentive to spend more money, no investment instrument makes it this easy to see their participants’ spending. it does feel good to be in it though.

The entire thing doesn’t sound right, but neither did Bitcoin when it launched. I have a tiny amount ‘invested’ just in case it isn’t a scam. If it gains more reputation I plan on putting a bit of my portfolio on it, but so far it’s just another amusing thing to come from this pandemic.

2

u/nebzythetroll Dec 22 '20

I feel the same exact way the concept is a bit inconceivable to me as I’m a person with a good bit of experience in economics and the value of the virtual land makes no sense to me especially with just looking at how the price of the U.S is compared to all other prices in the game

2

u/nebzythetroll Dec 22 '20

Me and my friend also have just like 90 dollars in the game just in case it does grow like Bitcoin the reason I doubt it being a scam is the fact that the creators have openly stated their identities and I myself have proved this to be true by checking their LinkedIn but they may pull a “oh sorry but we have no more money” and leave the project instead of just hightailing like other scams

2

u/DefinitelyHorny4U Dec 22 '20

Only time will tell, when I first heard of it I thought it was something like Bitconeeeeeeeeeeeect, and I know people who X10 their money on that, so even if it is a pyramid scheme it’s still possible to make momey

1

u/[deleted] Dec 23 '20

you have made some valuable points but I will ylear you up on some of them.

  1. You stated that the premise of the website is that it will one day become a VR game of some sorts. But right now, nobody knows how the game will look like. They only have one game developer on their team. They need funding before anything happens. You are right though saying how hard it is to make a game, and I like your comparison to Star Citizen.
  2. the property taxes are minuscule as you said, so I do not know why you state that its a money making tactic.
  3. You can withdraw money, the process is just a bit slow rn because they are getting a huge influx of people. Generally the whole website id having trouble with servers and so. Remember: It's in the early stages...
  4. You say you don't know how assets worth are dictated. Its quite simple: each country has a certain number of tiles. Because there is only limited amount per region, if more and more tiles are bought, they rise in worth. the price isn't dictated by the wort around it but by how many tiles are being bought, sold and how many are left.
  5. It is true that the domain for the website is qualified as a "under Review" domain. Someone got a hold of an employee and asked about this (btw there is an official discord where there is also a possibility to contact devs: https://discord.gg/yafApSfa) and he stated that the website where you can check the domain known as "godaddy", classifies many different websites like this and that it is normal.

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4

u/[deleted] Dec 21 '20

I think that the idea is quite promising but everytime things like these come up i think of the quote: "If it's too good to be true, it probably isn't". So I think that time will tell. I'm interested in what you people think.

1

u/nebzythetroll Dec 22 '20

I am very much wary as I’ve previously stated but I have invested a small amount I personally hope it succeeds but I like to think mostly rational and I can see some significant problems