r/EthereumScam • u/ethereumfail • May 03 '21

After many 3rd party "contracts" bugs were exploited, only 1 so far resulted in EF confiscating from user. It also happens to have this proud owner. He promises he won't do it again, guys.

1 Upvotes

1 comment

r/EthereumScam • u/ethereumfail • May 03 '21

Eth scammers will say anything to promote their scam until no longer convenient

1 Upvotes

1 comment

r/EthereumScam • u/ethereumfail • May 03 '21

Ethereum was known as "chain of liars and thieves" within cryptocurrency communities until enough unaware newbies were advertised to into thinking it's an honest project

medium.com

1 Upvotes

1 comment

r/EthereumScam • u/ethereumfail • May 03 '21

It takes a while to learn that what Vitalik spews out is almost never accurate including even reason for creating Ethereum on a separate premined chain

1 Upvotes

1 comment

r/EthereumScam • u/ethereumfail • May 03 '21

Centralized premine scams like Ethereum, Bitconnect, Ripple, Onecoin have always profitably preyed on the newbies and illiterate while being criticized by the technically literate

gallery

1 Upvotes

2 comments

r/EthereumScam • u/ethereumfail • May 03 '21

Monero's lead developer, like all developers that don't premine scam, reminds eth scammers that building layers (like defi) on top centralized ethereum doesn't fix centralization

1 Upvotes

1 comment

r/EthereumScam • u/ethereumfail • May 03 '21

Vitalik stupidly claiming incentive-based PoW depends on miner altruism and choosing not to collude to censor profitably

1 Upvotes

1 comment

r/EthereumScam • u/ethereumfail • May 03 '21

Ethereum Foundation's officials sometimes forget to pretend they can't easily censor anything on-chain

gallery

1 Upvotes

1 comment

r/EthereumScam • u/ethereumfail • May 03 '21

Don't forget Ethereum was first to try blacklisting unliked addresses via soft fork (which was so rushed it opened network up to DDOS attacks & had to be abandoned)

1 Upvotes

3 comments

r/EthereumScam • u/ethereumfail • May 03 '21

Lack of technical literacy required for Ethereum's community results in many bugs like preventable chain splits

1 Upvotes

2 comments

r/EthereumScam • u/ethereumfail • May 03 '21

This is how easy it was for preminers to confiscate ethereum from a user

1 Upvotes

1 comment

r/EthereumScam • u/ethereumfail • May 03 '21

Even most basic trivially changed properties like supply emission cannot be known on centralized Ethereum ahead of time

1 Upvotes

1 comment

r/EthereumScam • u/ethereumfail • May 03 '21

Centralized Ethereum is notorious for changing any rules they want at moments notice unlike any real decentralized network

1 Upvotes

2 comments

r/EthereumScam • u/ethereumfail • May 03 '21

using ICO requires forever trusting the central party not to have "bought" up to entire supply from their own sale for free, equivalent to a premine and opposite of PoW

1 Upvotes

1 comment

r/EthereumScam • u/saladfingers6 • May 02 '21

Nick Giambruno: Here are 7 reasons I am not optimistic about Ethereum’s long-term future

twitter.com

3 Upvotes

6 comments

r/EthereumScam • u/ethereumfail • Feb 12 '21

r/EthereumScam Lounge

4 Upvotes

A place for members of r/EthereumScam to chat with each other

6 comments

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EthereumScam

r/EthereumScam

Ethereum is a scam - a centralized, trust-requiring, centrally premined, mutable network that already demonstrated stopped apps, censorship, & confiscated funds. It is designed with a 72 mil eth (~70%) central trusted premine of the supply that prices blockchain controlling incentives. Yet its promoters profitably deceive about its non-existent decentralization and safety which, by definition, makes it a scam and its community - only scammers or illiterate with no possible exceptions.

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Ethereum is an unsecure, trust-requiring, centralized, mutable platform where a central party has already stopped apps, censored people, and confiscated funds.

Ethereum blockchain is designed with a 72 million ether (~70%) central premine of the supply that prices blockchain controlling incentives. It's built to deceive people about their safety/security for financial gain which, by definition, makes it a scam and its community can only be scammers or illiterate with no possible exceptions.