Quote:
Originally Posted by AmateurFlix
We've been over this, try to remember your lesson. It's not a ponzi, that is libel, something which the admins here used to take action against... I will demonstrate your ignorance of this topic every single time, there will be no relent 
Notice how this clown is unable to make any sort of substantive argument or have any kind of educated discussion about the matters at hand? Always with false accusations of some type of fraud, with zero evidence to back up his claims. When a valid point is made, he simply dismisses it as "ridiculous", because he lacks the ability to refute it. |
I called out the ponzi you promote in another thread. There are many signs & red flags. Anyone who follows you into the ponzi you promote, in long run, will lose all their money.
Remember, the #1 red flag in spotting a ponzi is the promise of high returns with low risk, you can see that in the
white paper of the ponzi you promote.
I get it, you're overinvested and need to bring in new dummies to support the ponzi, I know how hard it can be to make a dolla these days, by all means, do what you need to, but I'll warn people in every single thread about the ponzi you're promoting.
(to anyone following up with my claims, check the whitepaper and search "fixed yield ", "high yield" , & "low risk", it's all there)
Here's an in depth writeup about the Elephant.money scam
https://medium.com/@HackLaddy/elepha...m-3277338547c1
Quote:
Summary
To strip away all the complex mechanics, here are the two main reasons why, no matter how deflationary the token, or how long the APR runs for, the project is a scam.
The protocol needs to have people mint more TRUNK, by using BUSD and ELEPHANT, and then sell that for ELEPHANT, to allow the Treasury to keep buying back TRUNK from the market to pay the 205% APR. This can’t sustain itself, as users have no incentive to do so, when they could just trade their original token for ELEPHANT.
The protocol taxes ELEPHANT holders, and reflects it back to liquidity, and other ELEPHANT holders. This is also done more indirectly through the locked staked TRUNK tokens, which are used to pay the interest to all holders through the Treasury. This is a common, simple Ponzi mechanic in many scam tokens such as Safemoon. It puts you at an immediate loss, and requires new investors just to break even.
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