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Watching the Train Wreck in Slow Motion



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12-12-2021 13:35
Xadoman
★★★★☆
(1003)
https://www.youtube.com/watch?v=soY3cWtE3yc&ab_channel=ColinDigits
How to turn 5 bucks into 5000.
Edited on 12-12-2021 13:44
12-12-2021 15:40
IBdaMannProfile picture★★★★★
(14338)
Xadoman wrote:https://www.youtube.com/watch?v=soY3cWtE3yc&ab_channel=ColinDigitsHow to turn 5 bucks into 5000.

Oooops, I can't get this video to open. Please just briefly explain the economics to me.

.
12-12-2021 17:43
HarveyH55Profile picture★★★★★
(5191)
The roller-coaster ride has lasted almost a year, and still a thrilling ride. Even those that didn't buy a token, still enjoying the wild ride. Who really knows if it will every completely fold, or suddenly explode. I don't think crypto is going away, or if the current coins will be replaced with something more useful. But, something is going to happen along these lines. Cash transactions are being replaced with plastic. Seldom see people writing checks in public any more. I still use cash, pay bills with checks, but it's getting pretty clear it's not the prefer method of payment. Most real push the auto-pay option, online billing/statements, over paper. I want to know what I'm being charged, before I give payment. I want to limit who has access to my money.
12-12-2021 20:05
IBdaMannProfile picture★★★★★
(14338)
Xadoman wrote:https://www.youtube.com/watch?v=soY3cWtE3yc&ab_channel=ColinDigitsHow to turn 5 bucks into 5000.

gfm7175, is Xadoman pushing another pump-n-dump scam on the day of the "dump" by touting the advertised price "pump" of the previous day?

.
13-12-2021 03:31
gfm7175Profile picture★★★★★
(3302)
IBdaMann wrote:
Xadoman wrote:https://www.youtube.com/watch?v=soY3cWtE3yc&ab_channel=ColinDigitsHow to turn 5 bucks into 5000.

gfm7175, is Xadoman pushing another pump-n-dump scam on the day of the "dump" by touting the advertised price "pump" of the previous day?
.

Seems like it to me.

This is a video about some FOMO-peddling dude pushing something called MetaVPad (a deflationary launchpad for Metaverse)... idk what that is, so I'd need to learn before I could intelligently talk about it. Their website isn't working for me atm, so I can't research it, but from the information in the description of the video (if it is accurate):

There is a 10% fee on all token sales (7.5% rewarded to "stakers", 2.5% burned forever.

If you "unstake" early, there's a 25% burn fee... otherwise, if you wait 8 weeks, you're all good.


So yeah, I'm not familiar with what this stuff is, and the website isn't working, but it smells scammy to me. But who knows, maybe Xado finally found something legit? Then again, maybe keepit found a way to get the vice off of his head...
13-12-2021 04:12
IBdaMannProfile picture★★★★★
(14338)
gfm7175 wrote:There is a 10% fee on all token sales (7.5% rewarded to "stakers", 2.5% burned forever.

This is identical to Safemoon's "poison pill" that renders it useless as a currency right out of the gate. Why would anyone buy into it?

gfm7175 wrote:If you "unstake" early, there's a 25% burn fee... otherwise, if you wait 8 weeks, you're all good.

Essentially, thou must HODL or we fleece you.

Well, let's watch over the next eight weeks. Mark your calendar. We'll see how MetaVPad is doing on 6 February 2022.

Current MetaVPad Price: $0.3969

So, did you check out Pitbull this morning? Somebody got fleeced ... after being bent over furniture and reamed like a horse.

For most of the morning and the previous day, Pitbull had been riding pretty flat in the 14XX range. Suddenly, this morning at 06:07:12 Wisconsin time, while showing a price of $0.000000001460, the price was dropped to 0994 for one interval and one interval only, i.e. Pitbull directors went ahead and voluntarily coughed up a zero just to bilk the crap out of somebody.

From $0.000000001460 down to $0.00000000994, a 32% back load! Wow.

Of course, the very next interval saw Pitbull's price return right back to $0.000000001457 and maintained the 14XX flatline thereafter. This show was O-VAH! Move along people, there is NOTHING to see here!
Attached image:

13-12-2021 06:43
IBdaMannProfile picture★★★★★
(14338)
As long as we are going to add MetaVPad to our watchlist, let me see if I have this right ...

First, allow me to refresh my memory:

from Brave New World

What is a crypto pump and dump scheme?

Pump and dump schemes are nothing new - they are a form of securities fraud that have existed for decades and originally focused on the equity markets. More specifically, on small-cap stocks. An equity markets pump and dump scheme works like this. A small group of investors select and purchase shares in a company with a low market capitalization, thereby causing an initial jump in price.

Next, call center operations – more commonly known as boiler rooms – call potential private investors with the aim of convincing them to purchase the stock by providing false information claiming the stock is about to experience substantial gains. Once enough investors have been misled into purchasing the stock and its price has risen by enough, the initial group of investors will sell their holdings to take profit, before the price collapses and all following investors make heavy losses.

This type of securities fraud has also made it into the cryptocurrency markets. While the modus operandi has changed, pump and dump schemes are alive and kicking in the altcoin market due to its unregulated nature.

These schemes target low capitalization cryptocurrencies and digital tokens that can easily be manipulated with low trading volumes. Instead of boiler rooms, the price pumps are conducted by spreading hype and fake information about a coin on social media.

The comments section of crypto-related videos on YouTube is a prime target for coin hype. For example, the Brave New Coin YouTube channel's comments section is moderated on a daily basis for potential pump and dump scams. In this scenario, people [like Xadoman] attempt to hijack discussions and inject comments about a coin they are trying to hype into otherwise genuine conversations.

As the examples below show, the format is easily recognizable - typically beginning with a thank you and then an inquiry about a certain coin or project. Posted on many other channels, these types of comments give the impression there is genuine enthusiasm about a project, whereas in reality there is no such groundswell of interest.

Communication among pump and dump group members happens on encrypted messaging services such as Telegram, where groups can contain several thousand members and are usually entered upon invitation.

In these group chats, a coin that will be "pumped" will be announced after the original perpetrator of the scam buys the coin. Within minutes, group members also buy and then spread fake news about the coin on social media, blogs and sometimes even on news outlets thought of as reputable through paid-for sponsored content.

Once the price has jumped, the initiators of the pump sell their coins, followed by other members in the pump and dump messaging group. Then the price collapses again, leaving all investors who bought after the price surge with steep losses.


This is all good info. So how do I spot a pump-n-dump and how can I protect myself?


from Brave New World

How to spot a crypto pump and dump scheme


The easiest way to identify a pump and dump scheme is when an unknown coin suddenly rises substantially without a real reason to do so. This can be easily viewed on a coin's price chart. Coincheckup, for example, has set a benchmark of a 5% price increase in less than five minutes as its indicator.

Also, when you see paid news articles about a small cap coin appearing in combination with a surge in social media activity surrounding that particular cryptocurrency project, this could be the sign of a pump taking place. If an entirely unknown coin with market capitalization of only a few million dollars suddenly appears all over Twitter and Facebook, one should be wary.

How to protect yourself from pump and dumps

Pump and dumps are generally confined to coins with very low trading volumes and market capitalizations. By avoiding illiquid cryptocurrencies, your chances of falling victim to a pump and dump are substantially reduced. Furthermore, not following investment advice on social media or from paid news articles will also prevent you from making preventable losses due to this type of market manipulation. You cannot be confident that crypto media organizations will have done any vetting of coins they feature, and oftentimes these articles are paid for.

A good rule of thumb is to remember that anyone promising that they know which crypto coin will pump next, likely has an ulterior motive.

A sudden jump in price without real verified news backing the increase is an indicator of a potential pump and dump scheme unfolding. Hence, if the price chart says a pump is underway, it is best to avoid the coin altogether unless you have done your research on the digital currency and its potential future value.



Thank you for bearing with me. Now that I have brushed up on pump-n-dumps, let's talk about what we know concerning MetaVPad:

December 10th: MetaVPad becomes available for purchase to the public in secret, opening at a price of 94 cents ... but the price drops and MetaVPad closes at 37 cents. A group of insiders buys up large quantities at this price.

December 11: MetaVPad is pumped up to a token price of $55.07 ... and dumped at that price by the insiders who purchased the tokens the day before at a price between 34 - 37 cents. Colin Digits has a video already prepared to place on social media (YouTube) touting the excitement of the MetaVPad "project" and sharing his amazement at how it is "just taking off!" After MetaVPad is dumped by the insiders, the price drops and closes at 39 cents, roughly its previous price at the day's opening.

December 12: Xadoman exhibits all the behavior for which we are supposed to be on the lookout. He posts Colin Digit's YouTube video and touts all the excitement of cryptoland where one can "turn 5 bucks into 5000." MetaVPad closed the day at a token price of 40 cents.

Do I have all this correct?



[*find-pump-n-dump_MetaVPad]
13-12-2021 10:57
Xadoman
★★★★☆
(1003)
Metavpad ido( initial dex offering) price was 0.001. Those who managed to get in early are sitting at 400x now.
13-12-2021 14:44
IBdaMannProfile picture★★★★★
(14338)
Xadoman wrote:Metavpad ido( initial dex offering) price was 0.001. Those who managed to get in early are sitting at 400x now.


Here is the historical data from CoinMarketCap:

* Date Open* High Low Close** Volume Market Cap

Dec 12, 2021 $0.3927 $0.4427 $0.3872 $0.4012 $10,654,786 $0
Dec 11, 2021 $0.3767 $55.07 $0.3462 $0.3927 $62,409,877 $0
Dec 10, 2021 $0.9427 $0.9427 $0.3347 $0.3772 $56,509,626 $0


Nonetheless, what you are describing is fraud. Insiders who pump-n-dump as you describe are defrauding others.
13-12-2021 15:06
Xadoman
★★★★☆
(1003)
https://www.youtube.com/watch?v=GSPPZDriBYs&ab_channel=ColinDigits

Solchicks is being released today approximately in one hour. The ido price is 0.05. If you manage to buy early on raydium then you could make good gains. Those who managed to have their tokens from presale will certainly make 50x or even 100x.
13-12-2021 15:11
Xadoman
★★★★☆
(1003)
https://cryptorank.io/ico/metavpad


ROI since IDO
USD: 384.26x (+38,326.2%)
13-12-2021 16:15
IBdaMannProfile picture★★★★★
(14338)
Xadoman wrote:
https://cryptorank.io/ico/metavpad


ROI since IDO
USD: 384.26x (+38,326.2%)

Obviously it is elucidating the ROI of the fraudsters. Nobody should expect to make any money in a fraud except the fraudsters.
13-12-2021 16:28
Xadoman
★★★★☆
(1003)
Raydium ****ed the launch of the Solchicks. I had 100 bucks ready to throw in.
13-12-2021 17:04
gfm7175Profile picture★★★★★
(3302)
IBdaMann wrote:
gfm7175 wrote:There is a 10% fee on all token sales (7.5% rewarded to "stakers", 2.5% burned forever.

This is identical to Safemoon's "poison pill" that renders it useless as a currency right out of the gate. Why would anyone buy into it?

gfm7175 wrote:If you "unstake" early, there's a 25% burn fee... otherwise, if you wait 8 weeks, you're all good.

Essentially, thou must HODL or we fleece you.

Well, let's watch over the next eight weeks. Mark your calendar. We'll see how MetaVPad is doing on 6 February 2022.

Current MetaVPad Price: $0.3969

That's what I'm getting out of it, from the only bits that I do understand about it. Like I said, their website didn't work for me, but that's essentially all that I learned about it from the video besides a bunch of FOMO peddling (and I assume that those two facts about how it works are accurate).

IBdaMann wrote:
So, did you check out Pitbull this morning? Somebody got fleeced ... after being bent over furniture and reamed like a horse.

For most of the morning and the previous day, Pitbull had been riding pretty flat in the 14XX range. Suddenly, this morning at 06:07:12 Wisconsin time, while showing a price of $0.000000001460, the price was dropped to 0994 for one interval and one interval only, i.e. Pitbull directors went ahead and voluntarily coughed up a zero just to bilk the crap out of somebody.

From $0.000000001460 down to $0.00000000994, a 32% back load! Wow.

Of course, the very next interval saw Pitbull's price return right back to $0.000000001457 and maintained the 14XX flatline thereafter. This show was O-VAH! Move along people, there is NOTHING to see here!

No, I didn't see that one yet... Holy bejeebus that was a major horse reaming. That makes the 10% single-interval upward spike from late last night look like nothing.

In other DeFi news, Safemoon decided to abandon all shark teeth as of mid-day yesterday and the "price" has been steadily decreasing (per usual) ever since. Everdrop continues to drop (in the grand scheme of things). Cardano seems to be taking a dive...
13-12-2021 17:17
gfm7175Profile picture★★★★★
(3302)
IBdaMann wrote:
As long as we are going to add MetaVPad to our watchlist, let me see if I have this right ...

[snipped out a lot of very good information for space purposes]

Thank you for bearing with me. Now that I have brushed up on pump-n-dumps, let's talk about what we know concerning MetaVPad:

December 10th: MetaVPad becomes available for purchase to the public in secret, opening at a price of 94 cents ... but the price drops and MetaVPad closes at 37 cents. A group of insiders buys up large quantities at this price.

December 11: MetaVPad is pumped up to a token price of $55.07 ... and dumped at that price by the insiders who purchased the tokens the day before at a price between 34 - 37 cents. Colin Digits has a video already prepared to place on social media (YouTube) touting the excitement of the MetaVPad "project" and sharing his amazement at how it is "just taking off!" After MetaVPad is dumped by the insiders, the price drops and closes at 39 cents, roughly its previous price at the day's opening.

December 12: Xadoman exhibits all the behavior for which we are supposed to be on the lookout. He posts Colin Digit's YouTube video and touts all the excitement of cryptoland where one can "turn 5 bucks into 5000." MetaVPad closed the day at a token price of 40 cents.

Do I have all this correct?

From watching the video that Xadoman posted here, and checking out the price chart for myself, I do believe that you're spot on about this. Watch Xadoman fall for yet ANOTHER scam after yet ANOTHER warning about the scammy nature of it...
13-12-2021 17:47
Xadoman
★★★★☆
(1003)
https://www.mexc.com/exchange/CHICKS_USDT

https://cryptorank.io/ico/solchicks

ROI since IDO
USD: 11.36x (+1,036.4%)
ATH ROI since IDO
USD: 13.19x (+1,219%)

It seems the price has now climbed from 0.05 to about 0.6. From the video posted earlier it is still good to buy if the price is under 1 buck. Unfortunately it is not possible currently on raydium.
13-12-2021 17:59
IBdaMannProfile picture★★★★★
(14338)
Xadoman wrote:Solchicks is being released today approximately in one hour. The ido price is 0.05

... unless the price was "pumped" by insiders first, to say $0.67 and then allowed to drop as the insiders dumped their tokens around 09:00 am Wisconsin time.

Current Solchicks Price: $0.28

Note: As I was typing this post, the Solchicks price steadily, and rapidly, dropped from $0.51 to $0.48 to $0.36 ... and is now at $0.28
13-12-2021 18:02
IBdaMannProfile picture★★★★★
(14338)
Xadoman wrote:Raydium ****ed the launch of the Solchicks. I had 100 bucks ready to throw in.

Certain sheep are deathly allergic to their own wool and must be rid of it the moment they get any.
13-12-2021 18:23
Xadoman
★★★★☆
(1003)
Note: As I was typing this post, the Solchicks price steadily, and rapidly, dropped from $0.51 to $0.48 to $0.36 ... and is now at $0.28


People are taking profits. 5x is still good for those who managed to get into presale. I predict the price will go higher if the Raydium fixes its problems.
13-12-2021 18:54
IBdaMannProfile picture★★★★★
(14338)
Xadoman wrote:People are taking profits.

Yes, those committing fraud. These "people" are dishonest scam artists committing fraud. They are the cadre of insiders who are bilking the unsuspecting public.

Xadoman wrote:5x is still good for those who managed to get into presale.

By "presale" you are referring to the "pump-n-dump."

Xadoman wrote: I predict the price will go higher if the Raydium fixes its problems.

Why will the price exceed $0.67? For what economic reason (not FOMO-generating hype)?
13-12-2021 19:03
Xadoman
★★★★☆
(1003)
Yes, those committing fraud. These "people" are dishonest scam artists committing fraud. They are the cadre of insiders who are bilking the unsuspecting public.


Feel free to participate in those presales. It requires staking quite a lot of coins on launchpads to get acsess tho those presales but everyone can do it if they have enough coins to stake.
13-12-2021 19:04
IBdaMannProfile picture★★★★★
(14338)
Xadoman wrote:
Note: As I was typing this post, the Solchicks price steadily, and rapidly, dropped from $0.51 to $0.48 to $0.36 ... and is now at $0.28
I predict the price will go higher if the Raydium fixes its problems.

Current Solchicks Price: $0.24

By the way, has Safemoon "mooned" yet?

Current Safemoon Price: $0.000001456
Xadoman's HODL-Treasure: 1,000,000,000 x Price = $1,456
... and he got it all for the bargain price of $4,000.00
13-12-2021 19:26
Xadoman
★★★★☆
(1003)
and he got it all for the bargain price of $4,000.00


Told you, 2500 euros=around 2800 bucks.
13-12-2021 19:55
gfm7175Profile picture★★★★★
(3302)
Xadoman wrote:
and he got it all for the bargain price of $4,000.00


Told you, 2500 euros=around 2800 bucks.

You haven't told us anything useful (on purpose).


IF you were to stop being so purposefully vague and dishonest about your purchases, then you would at least detail the following for us:

The specific dates that you made each of your Safemoon token purchases on.

The total amount of Safemoon tokens that you purchased on each of those dates.

The price-per-token amount that you paid for your Safemoon tokens on each of those dates.


Until you can do this, I will stick with IBD's figures as I believe them to be much more accurate than yours. You have been scammed and you continue to lie to yourself about it rather than cutting your losses.
Edited on 13-12-2021 19:57
13-12-2021 22:06
gfm7175Profile picture★★★★★
(3302)
DeFi update:

Every single tracked item is declining in "price".
14-12-2021 06:59
IBdaMannProfile picture★★★★★
(14338)
gfm7175 wrote:
DeFi update:

Every single tracked item is declining in "price".

The "Tracking" has been shifted to the new thread.

I'm hoping we can focus on the evolution of Safemoon from a pump-n-dump, through its value-bleeding through a shared blockchain, to its dependence on hype and HODLer desperation to initiate new rounds of fraudulent activity, to the petty dishonesty of brazenly fleecing people trying to simply play the game.

In particular, I was wondering if perhaps we can extrapolate and predict events and trends with other cryptosludge. For example, Cardano has no shark's teeth today. Can we predict that it will, and when?

Safemoon has been the consummate example of completely dirty play and it would be a shame for there to be no lessons learned to pass onto others.

.
14-12-2021 16:16
gfm7175Profile picture★★★★★
(3302)
IBdaMann wrote:
gfm7175 wrote:
DeFi update:

Every single tracked item is declining in "price".

The "Tracking" has been shifted to the new thread.

I'm hoping we can focus on the evolution of Safemoon from a pump-n-dump, through its value-bleeding through a shared blockchain, to its dependence on hype and HODLer desperation to initiate new rounds of fraudulent activity, to the petty dishonesty of brazenly fleecing people trying to simply play the game.

In particular, I was wondering if perhaps we can extrapolate and predict events and trends with other cryptosludge. For example, Cardano has no shark's teeth today. Can we predict that it will, and when?

Safemoon has been the consummate example of completely dirty play and it would be a shame for there to be no lessons learned to pass onto others.

.

Sounds good.
15-12-2021 04:02
IBdaMannProfile picture★★★★★
(14338)
I have an hypothesis about Safemoon.

I think Safemoon had their day back in the early months of this year. But new scam coins pop up every day. I think all the competition and all the hype for other gambling options simply bled Safemoon of all interested HODLers.

I believe that what we saw starting to grow in October was the final throwing up of the hands and a shift to a new strategy of grubbing every penny possible from the ever-dwindling inflow of stupid people. Over the subsequent months we saw this behavior become more desperate and more brazen.

Below I have attached today's price graph which is totally typical of virtually every day for the past month. The question that remains unanswered is whether this is the final stage of crypto-geriatrics and the directors will soon find it in their financial interests to just pull chocks and drain the liquidity pool to invest the funds elsewhere ... or whether they still find the current state of affairs worth leaving the liquidity pool capitalized.
Attached image:

15-12-2021 06:24
IBdaMannProfile picture★★★★★
(14338)
IBdaMann wrote:The question that remains unanswered is whether this is the final stage of crypto-geriatrics and the directors will soon find it in their financial interests to just pull chocks and drain the liquidity pool to invest the funds elsewhere ... or whether they still find the current state of affairs worth leaving the liquidity pool capitalized.


Now I'm confused. coinmarketcap is reporting Safemoon's high and low prices for the past 24 hours are as follows:

Low: $0
High: $0.000001486

I'm presuming it's a glitch. I don't see the price graph touching zero at any point.

Ten days ago, Safemoon dropped below $0.000002000 and does not appear to have enough gumption to push upward. I believe the massively growing crypto-competition has made the public care so little about Safemoon that I would be very much surprised if the Safemoon directors could pull some magical hype out of a hat that would launch scam round #3. I don't think Safemoon has any steam left, and I believe the Safemoon directors feel this way as well, which is why they are desperately fleecing as many as they can for as much as they can ... because they can't keep the price from falling and this will probably be the last hurrah.

... but then again, there's no accounting for stupid people, which is why we need to keep watching. We can't write the last chapter yet, but I think it's coming. That's the story the Safemoon price chart tells me.

I have attached the Safemoon one-month price chart below:

.
Attached image:

15-12-2021 16:21
gfm7175Profile picture★★★★★
(3302)
Yeah, I think you have a reasonable hypothesis there. We didn't witness the brazen shark teeth until fairly recently and that's become the "new normal" (mmmm COVID!) for them.
17-12-2021 07:32
IBdaMannProfile picture★★★★★
(14338)
So which medieval torture device is Safemoon?

The spiked rack?



The spiked armchair?



The iron maiden?



The spiked collar?



... and without further ado, here's Safemoon!
.
Attached image:

17-12-2021 16:41
gfm7175Profile picture★★★★★
(3302)
IBdaMann wrote:
So which medieval torture device is Safemoon?

... and without further ado, here's Safemoon!
.

Since the spikes keep rolling along, I'd say the spiked rack.
18-12-2021 02:09
IBdaMannProfile picture★★★★★
(14338)
gfm7175 wrote:Safemoon's latest is a beauty...

08:10:08 Wisconsin time: $0.000001514
08:15:08 Wisconsin time: $0.000001717; price increased 13.4%.
08:20:08 Wisconsin time: $0.000001499; price returned to prior level.

Never mind me... Nothin' happened, I SWEAR!

I cut myself just looking at it. Keep the children away. I'd put up police tape if I could.

So I have an announcement. Apparently Safemoon has ended, but not as I had predicted. Safemoon did not go out in a rug-pull. The price did not drop to zero.

In recognition that the game was over, Safemoon directors simply scrapped the operating contract, which is not supposed to be able to happen. Nonetheless, DeFi is totally unregulated and the Safemoon directors can do whatever they want, to include adjusting the current price however they please. So the directors simply rewrote the rules and in so doing, they simply discarded the previous Safemoon project ... and started over. Now it is officially Safemoon V2 ... just using the same logo and everything else.

The change in the contract rules, which eliminates the 10% transaction penalty for transfers between wallets, forced Safemoon directors to heavily augment the way they fleece people, and this is what led to the tire spikes and shark's teeth that we have started seeing. In fact, all those occurrences of the tire spikes were "dry runs" to see if it would actually work and if they could get away with it. Well, lo' and behold, it did. It worked like a charm, in fact. As a result, Safemoon V2 was given the green light and the tire spikes are now the norm as you can see.

So the original Safemoon has officially ended, as of five days ago. Today's table game is officially V2, i.e. Safemoon V2. One interesting note, the Safemoon directors are assuring HODLers that V2 returns "control" to the HODLers because greater control over the reflections is now retained by the directors, by allowing them to create as many "tiers" as they need and as any situation requires.

I hope that make sense to you?

So, we've been in V2 for five days now, i.e. 13 December 2021. I missed the kickoff because I'm not a HODLer and Xadoman didn't keep me apprised. As such, we can closeout the Safemoon train wreck and simply track V2 in the Cryptowatch thread.

Now we know how it ended. Rather anticlimactic, if you ask me.
.
Attached image:

18-12-2021 10:12
Xadoman
★★★★☆
(1003)
Now we know how it ended. Rather anticlimactic, if you ask me.


Nothing has ended. It is just a little "boob job".
18-12-2021 10:38
IBdaMannProfile picture★★★★★
(14338)
Xadoman wrote:Nothing has ended. It is just a little "boob job".

It has ended. Safemoon is no more.

Have you converted your tokens yet?

Aha! Gotcha! That was a trick question. Having to convert your tokens from the old cryptogame that has ended to the new cryptogame that has taken its place pretty much confirms that the original cryptogame has ended ...

... and you know this because you fully plan to convert your tokens and play the new cryptogame "Safemoon V2" that has replaced the former cryptogame "Safemoon."

I wish you better luck with this new one than you had with the previous one that has ended.

.
20-12-2021 01:55
IBdaMannProfile picture★★★★★
(14338)
I was wrong. Safemoon might have ended, but the train wreck is about to get worse, having jumped off the rails, the bridge is also collapsing plunging it into the gorge. I therefore need to reopen this thread to track the next phase of the disaster.

Before I explain, I would like to recap what I posted in the other thread about HODLers now being fleeced by the forced migration to V2:

IBdaMann wrote:
Everybody, please take a moment to look at the Safemoon price chart (which is now serving as the price chart for the Version 2 of Safemoon, the original Safemoon having been scrapped and discarded)

https://coinmarketcap.com/currencies/safemoon/

Notice the steep one-interval spikes in price. Be aware that many of those are successful fleecings of original Safemoon HODLers who must convert their now defunct Safemoon tokens to Version 2 tokens or leave them to vanish when the grace period ends. Each HODLer must submit a "buy" order for the new V2 tokens using the old Safemoon tokens ... which must be converted into Binance Coin which is then used to purchase the V2 at the price set by the V2 directors (formerly known as the Safemoon directors).

This is the point the directors hike up the price for the one interval you are seeing that looks like a spike on the price chart. After the purchase is completed at the artificially high price and the HODLer fleeced, the price is returned to exactly where it was one interval prior.

It turns out that this was the entire purpose for the Safemoon Wallet app. The whole idea was to enable HODLers to easily "convert" their Safemoo tokens to the planned V2 tokens in literally three clicks ... and totally automate the Directors' ability to fleece the HODLers.

The HUGE problem that totally escapes the stupid HODLers is that outsiders can buy into V2 while HODLers are converting all of their Safemoon tokens to the new V2 token.

Remember, there is only supposed to be a certain fixed number of tokens. The directors aren't supposed to be creating and selling new tokens on a whim willy-nilly and completely devaluing the existing tokens, right? Of course, this is DeFi we're talking about, i.e. totally unregulated. The directors can do whatever they want. It's now all their money to do with as they wish. That's why they call it a "project" after all (and why I call it a "table game" because once you lay down your bet, your money belongs to the casino until they decide to pay you).

So once upon a time there was Safemoon and its fixed number of tokens. Today there is V2 and a whole new quantity, one that will accommodate all the previous Safemoon tokens as well as all those that wish to be purchased by outsiders. It's a win-win ... for the directors. The HODLers, on the other hand, will get royally fleeced converting their tokens to V2, and then will be royally raped as the directors devalue their V2 tokens buyer after buyer.

Then there's the price pump. If I were a suspicious person, I would presume that there was another (new) set of secret insiders who bought in on V2 before it was opened to the public, and we can see V2 being announced publicly immediately after the price pump. Hmmmm. It almost makes one think that the HODLers are being forced to convert their Safemoon tokens and be fleeced so they can buy at the high price of the V2 "dump" so their tokens can promptly and efficiently begin being devalued via the Safemoon Wallet.

20-12-2021 04:04
IBdaMannProfile picture★★★★★
(14338)
Holy Crap! I remember wondering whether Safemoon had paid Google and other search engines to repress negative information. I remember finding countless videos and articles touting the excitement that was Safemoon but precious few offering any sort of critical analysis.

Well, Safemoon ultimately got scrapped and V2 was created. Suddenly THIS VIDEO pops up at the top of the list. It's a comprehensive explanation from a senior software engineer of why Safemoon is a scam and exactly what is going to happen to it ... including a spot-on prediction of the price curve ... predicted on April 5th, 2021!

https://www.youtube.com/watch?v=tdNkbRk0S7w

See the attached screenshot of the video below. You might recognize the Safemoon price chart in the video ... except that it is not the Safemoon price chart. On 5 April, the day this video was loaded onto YouTube, Safemoon had not yet been made available to the public. It is the DigiWage price chart and this software guy is trying to warn the world that Safemoon will also have this price chart. Did this video ever appear on your search results for videos about Safemoon? On April 5th, the Safemoon pump-n-dump was two weeks from happening. This uber-accurate video laid it all out for the world and I bet nobody ever saw it except for whomever this engineer shared a direct link. I know that I was exhaustive in my searches and only now is this video appearing, but it has been out there on YouTube since long before I ever started researching. Very odd.

This video explains how you can verify for yourself that Safemoon was thrown together quickly by simply copying code from other "contracts" ... to include the comments within the code ... and performing absolutely no unit tests to ensure everything worked as specified in the contract ... a sure sign that they didn't care about whether it worked as a cryptocurrency.

This video is fascinating in its examination of the technical side (in plain English for laymen, not techno-babble) but the fact that this exact prediction of the Safemoon performance was published on 5 April 2021 is utterly amazing.

.
Attached image:


Edited on 20-12-2021 04:07
22-12-2021 20:28
IBdaMannProfile picture★★★★★
(14338)
Safemoon V2 is charging hard out of the gate, looking to immediately establish its supremacy as the reigning undisputed fleecing champion. I missed it when it happened so this is a tad late on the reporting but at 7:30:27 pm Wisconsin time on 20 December 2021, while Safemoon V2 was showing a price of $0.001584 (only two zeroes), some V2 holders wanted to sell some or all of their tokens.

Safemoon V2 staff was obviously not pleased with their decision to sell and apparently took offense at the request. Safemoon immediately dropped the price to $0.0000002149 (yes, six zeroes) for that one interval needed to effect the sell order at 0.01% of the previous price, and then immediately returned the price back to its 2-zero decimal price of $0.001591

Safemoon V2 will not tolerate any of this buying or selling funny-business. They apparently have adopted a zero-tolerance policy.
Attached image:

22-12-2021 22:29
gfm7175Profile picture★★★★★
(3302)
IBdaMann wrote:
Safemoon V2 is charging hard out of the gate, looking to immediately establish its supremacy as the reigning undisputed fleecing champion. I missed it when it happened so this is a tad late on the reporting but at 7:30:27 pm Wisconsin time on 20 December 2021, while Safemoon V2 was showing a price of $0.001584 (only two zeroes), some V2 holders wanted to sell some or all of their tokens.

Safemoon V2 staff was obviously not pleased with their decision to sell and apparently took offense at the request. Safemoon immediately dropped the price to $0.0000002149 (yes, six zeroes) for that one interval needed to effect the sell order at 0.01% of the previous price, and then immediately returned the price back to its 2-zero decimal price of $0.001591

Safemoon V2 will not tolerate any of this buying or selling funny-business. They apparently have adopted a zero-tolerance policy.

hahahahahahahahahahahahahahahaha poor Xadoman.....

Did you convert your tokens yet Xado??
23-12-2021 13:38
Xadoman
★★★★☆
(1003)
Did you convert your tokens yet Xado??



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