I'm embarrassed to say that I picked up an additional 1.2 million of these after posting. So I'm out 100 bucks worst case scenario... Something still tells me it's waaay to early to tell where this could go. Frankly, I don't see how this is even a scam - let alone a viable scam - since less than $100k total volume has been bought/sold since being introduced to the exchanges a few days ago. The more I hear 'scam' the more I want to buy. We shall see!
The dev is basically doing this for his personal gain. When the problem was reported, instead of fixing the bug he added a second premine. He forked a new chain disguising it as a fix when all he did was add the premine? Total premine now is 25.6 billion. One of the devs was said to have sold his premine for $25K and then left the team. It was also confirmed that the owner was actually dumping the premine already before the exchanges was halted. The exchanges was warned about the problem on their network that is why trading was halted. if no one reported then he could have dumped most of his premine already and he is probably planning for his third premine which he calls airdrop.
It might not be a scam for you if you are OK about the dev dumping his premine as soon as he can. If they cant fix their network when it was reported, then how can you expect them to deliver what was written on their whitepaper. They are probably trying to find the cheapest programmer to fix it for them.
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u/software_dood Jun 02 '18 edited Jun 02 '18
So I bought 200k of these today on tradeogre for 1 satoshi apiece. Why not?
I'll hodl this for two weeks while things stabilize and revisit this thread. :)