Home > News content

Which is the Chinese fraud project that has been discussed crazily by foreigners on Reddit?

via:博客园     time:2018/6/8 19:54:39     readed:427


Author: 0x2

Yesterday, a post in the Reddit/virtual currency triggered a heated discussion among netizens around the world. The original author gverno wrote a few hundred words to question the new fraudulent model of virtual currency from China.

He pointed out that a project has gained media attention by stacking popular technical indicators, and paid for Youtube promotion, sold a small amount of Token through crowdfunding, and placed it on a well-known exchange in a very short period of time. Then the currency was pulled up when the exchange traded, and the team secretly shipped during the process.

The first step: increase the project's TPS to 100,000! No, no, it's too low, 1 million TPS!

The second step is to start large-scale private pre-sales, leaving only a small portion of the public ICO. The proportion of ICO below 25% is the best, and 30% is actually ok.

The third step: spend a lot of money to publicize this project, so that investors feel that buying this coin in the ICO is simply the blessing of God. In addition, YouTube video bloggers must do video rushes, and of course, there must be a lot of big V help.

Step 4: Make money on the most popular exchange so that the money you invest in their project can be traded on the exchange!

Step 5 (Important): Make sure that the publicly-received Token can be traded in the market so that an unbeatable market value can be created after the exchange currency is paid out.——15 % of the ok, 5-10% of the circulation can produce the best results.

Step 6: Sitting in the office and ridiculing Western investors actually fall into such a silly X scam.

He cited several characteristics of the aircoin. The investors have compared the features they have invested with the features cited by the author. The following are multiple clues given by the original author.

1. Whether the project promotes TPS reaching 1 million

2. Is the proportion of public offerings lower than 30%?

3, spend money on youtube to find bloggers to promote

4、Whether the currency is traded on a well-known exchange

5, the circulation is less than 15%

Come and follow the rhythm of the block BlockBeats Detective Jun, together to find the clues of the air coin in this foreign population!

Is PChain?

Reddit User Rabbit0123 Re: PChain.

PChain stated in the media in May that the PChain system can run to 10000TPS on ordinary machines, and its public fundraising ratio is 35.7%, which is higher than the clues left by the author.


On Youtube, we also saw some promotional videos about PChain, but most of them were videos that didn’t have much watch. Moreover, PChain is mainly traded on small exchanges, including regional centralization exchanges, with a circulation of 35%.

As you can see, PChain's indicators do not meet the description of aircoins. We continue to investigate other suspicious objects!

Is wave field?

Reddit User SmellyFrontBum Q: Is it TRON?

After the BlockBeats investigation of the block rhythm, Tron only has one description.

Wavefield TRON was released in September 2017. At the time of its initial publicity, Sun Yuchen stated that Ethereum was too congested (20-30 orders per second can be processed), so the wavefield was subject to technical upgrading and it was planned to increase TPS to 1,500. In the latest media reports, Sun Yuchen stated that Tron TPS is 10,000.

However, the frequency of the public auction of crowdfunding in the wave field was too high. Because the wave field is currently the top 10 digital cryptocurrencies in the world, there have been more than a million videos about the wave field on Youtube in 9 months. The flux of the wavefield is 65%, which also exceeds the author's description of less than 15%.

Based on this, the wavefield can be excluded from the range of air coins discussed in this article. Let us continue to investigate other suspicious objects!


Reddit User Jimpeem said: OCN is consistent with every item!

After the BlockBeats investigation of the block rhythm, only two of the OCNs met the description.

In fact, OCN is not comparable in any of these currencies because the OCN project is not a public-linked project, all without the TPS.

Moreover, OCN has not publicized the proportion of publicly-funded Tokens, and there is not much large-scale V promotion for them. As a project launched at the beginning of this year, it has already been traded on several famous exchanges such as Huo Yuan and Upbit, with a circulation of 20%.

Although OCN has two indicators that are consistent with the description of aircoins, it is clear that because it is not a public-chain project, it is not an air-money mentioned in this article and can be excluded directly.

Do you want to return without success? Continue to investigate other suspicious objects contributed by netizens!

Is it ONT?

Reddit User mebeast227 Reply:

The ONT now has an almost crazy market value, and to do all this they only use airdrops + a small amount of circulation currency. There are no products, but the market value is in the top 25. What to do?

After the BlockBeats investigation in the block rhythm, there are as many as four items in the ONT.

The block rhythm BlockBeats sees that the TPS value mentioned by the ONT in the media is only 3000, which is far from the described 1 million+ TPS.

In addition, the ONT adopted the airdrop model. Before the 20 million ONTs were given to NEO holders, they could actually understand the airdrops as public offerings. In this case, the proportion of ONT public offerings is 2%.

On Youtube, we did see many big Vs making promotional videos for ONT platforms, and ONT smoothly traded on several well-known exchanges such as OKEx, Coin, Huo, Upbit, and the total Token circulation 24% of the quantity.

The ONT body looks very much in line with the description of the air coin, but it is still far from the 1 million within the TPS and is still excluded.

Now we are getting closer to the truth!

Is it a quark chain?

Sparednickel and many other Reddit users: Is QuarkChain?

After the BlockBeats investigation in the block rhythm, QuarkChain has five items that fit the relevant description.

In the latest media interview, the founder cycle of the quark chain indicates that the test chain's TPS has reached 2000, and QuarkChain's expectation is 1 million TPS.


And in QuarkChain's pre-sale white paper, it can be clearly seen that QKC's pre-sale volume is 20%.


On Youtube, a large number of well-known digital currency bloggers produced promotional videos for QKC, and even videos directly informed the public that QKC could grow by 100 times. These videos were intensively released a month ago, and one month ago QuarkChain was rated as a VERY HIGH recommended purchase by the ICODROPS website.

QuarkChain landed directly on the currency exchange on June 5 and did not vote on the currency process.

At present, QuarkChain's circulation is 20%, which exceeds the above-mentioned 15%. However, the original text says that the lower the better, it is the currency that is questioned by netizens as the lower circulation currency.

To sum up, it is almost certain that the air-coin item that Reddit users hotly discuss should be Quark Chain.

How do foreigners look at air coins?

Reddit User SpaaceMILK:

Everyone in the virtual currency market should take a look at this documentary called “The China Hustle” to understand how these people are doing whatever they want in a regulated modern market. Virtual currency? In contrast, for the Chinese, this is pediatrics. After reading it, at least you can open your eyes.

The purpose of these words I said is not to say that all Chinese people do blockchain projects are false, and China has made a lot of amazing things.

However, please do it before you invest! it is good! Tune! check!

Reddit user Hik_hik summed up the formula for the Chinese Air Coin team:

1. Add a Chain behind the name to highlight the brilliance of earlier projects.

2. Design a very low website, use some seemingly exaggerated fonts, and then spell the wrong words in capital letters.

3, with some beautiful cry background image, the word is only as small as a 51-inch monitor to see clearly.

4, make an empty shot!

In the end he concludes: Dem Chinese got the formula right! (Dry! The Chinese have learned the formula for making money from cryptocurrency!)

For the enthusiastic discussion of foreign users of these air-currency items, what do you think of readers? Please feel free to leave a comment below the article, or you can participate in their discussion and vote below.

China IT News APP

Download China IT News APP

Please rate this news

The average score will be displayed after you score.

Post comment

Do not see clearly? Click for a new code.

User comments