CryptalDash is Crack. Stay off it. ICO Review. CryptoNinja.Guru's Rating: 1/5

9 months ago

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Ever heard of chain mail?

Well, those 90s things were not good either. However the real original was a type of armour. Let's say Cryptoninja.Guru also likes armour plated projects only. This will become the first crypto project review post on the blog of the same name (which this little distraction has me away from, again).


First, A Message From Our Sponsor:

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Next thing to consider. There are about 15 really big and cool exchanges out there. Go find out who they are, make a post about them. Sign up for one, play around and trade some spare coins, and then look how to LIST SMOKE on them. You've got yourself a bunch of really cool blog posts to make there, and,

you'll be off the bad CryptalDash Crack once and for all.


First TLDR:

I am here for one reason - Smoke Network is a project with huge potential. It has my teams 5 Star rating. So before we get started, please try to trust me that listing on random belly-fluff-coin exchanges of which there are as many as there are shitcoins - and that an exchange can be setup by anyone to wash few million of volume everyday, it can actually create profits at the same time. In other words, a little exchange can appear just that, 'little', and supposedly set for growth. Or, they could be nicely cashing up just by trading the ICO fund, and use whatever dirty tricks to puff it up even more. Another strategy, is they'll continue the scam and take innocent people in. It's part of what they're doing here, they will get the benefit of other naive communities seeing all our tweets - about this super 'exchange'.

Let's go through the screens that you lot have had me awake until now doing; with the commentary, I hope you will let me know in the comments if I'm sounding rational. If not, I'm always happy to be educated.


Now the first of few things to consider:

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Some information from bitcointalk.org forum - more follows

For starters, this exchange can only handle ERC20, if they can handle anything at all that is. Smoke is an implementation of Graphene and listed on BitShares. We aren't having an ERC20 swap. Someone like Binance can handle us, they have BitShares for example. That's not to say we can't give any exchange a cold storage wallet. (we can). However, so many of these exchanges (even big ones) can only handle or list Ether [sic] tokens. Because Etheruem in fact sucks 10000x worse than VHS did compared to Betamax.

We're killing it for a brand new cannabis blockchain project. Wait till they put Ganja Business Tokens tokens on here with an exchange and SMOKE as the core, imagine, like a mini-BitShares with the social network, for Cannabis industry? Don't you know we just need to focus on our own community for now ... (GBTs, I just made it up, I'm NOT an official rep of Smoke Network btw).


From the White-paper

So, something that I don't do just for fun. I'll hold on the coffee and spliff also because this often only takes a few. A white-paper can be identified as legit or fluff-brochure in a moment. This one, its all pretty graphics and no content.

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Vague nonsense about AI and robots, and "Ether". Oh man. I'm done here! 30 pages of skim reading complete bollocks. If the white-paper sucks, it's a good sign you can stop wasting your time right there.


A quick reminder.

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YouTube buzz

Talking of friends, always a barometer for a company or project. Does anyone care about their YouTube posts? Views here of the CEO presenting the new vision in cryptocurrency exchanges, isn't that popular really.

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300 views on YouTube. Possibly paid for. I don't know how anyone can get so many otherwise.


If you actually read these white paper infographics, you find meaningless jumbles of words, posing as something you'll have to read in great detail later (So, don't bother with that before you hand over your ETH investment, ok?).

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All The Viral Sh*tty Posts Everywhere...LEACHING on your COMMUNITY.

Onto the main trigger for ninja robot guru losing it over this stuff. You have to start looking for the wood through the Smoke. [sic]

It's a virus - feeding on its host. It has come to harvest effort from us. Can't you see it is a trap?

By sending all these tweets, we're (Smoke) looking desparate to be on this exchange. WHEN OUR OWN CMC LISTING IS WAY HIGHER.

CryptalDash is an ICO that raised a few million and now wants more, or has expenses on top and not even 10% liquidity of BitShares. Even better, it allows them to assure investors or attract new ones, by them showing how they have "a massive community". Even more scary, some of our own here might feel compelled or want to gamble a few ETH into a speculative investment. Happens all the time. Just HODL the SMOKE man, and ok, some BitShares, WhaleShares, some YOYOW, maybe some of that BTC/ETH ...... for trading :)

Now I have been watching for a few days, they do the same everyday. Trade between $2-4 M USD of their own pairs on their own wallets and exchange:

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30 30 30 split, daily, creates an artificial volume from spot trades. AKA wash trading. Possibly for show, or for profits if they are doing arbitrage.

CMC (coinmarketcap.com) shows they have a coin listing and an exchange listing. The coin barely registers, Smoke is actually a far bigger coin, guys and gals.


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Yes, an incredible 27 HODLS of their token on Etherscan


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They are just sucking the communities, with carrot of exchange listing and stick they're posing it as own community to steal money from more people - 100%

The UI/UX

Clean, no doubt. Pretty ..... spartan? For 11 million or whatever they raided raised in the ICO. This is the end product .... I filled in some spaces, to show you that other things would fit in them..

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So much space for my freedom. Good thing I threw 400 ETH in here.

It's just too empty, and too much like 100 other central exchanges we have seen. Standard bootstraps, templates, components, forkable projects on git, etc etc. It's all out there and free, for a developer with hours to spare. Spotting the fakes is easy, like the earlier website report - no team with any half decent devs would let that happen. Big red flag, just check the website with some YSlow and PageSpeed tools.


Run some tests using free online tool gtmetrix


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Do you want me to talk about the quality of this website? Another ram-packed ICO type website full of extensive text that seems to make sense. However is actually so full of holes, I didn't spend long going into them. Let's not beat around the bush. That F and E rating doesn't translate to Freaking Excellent. It's so bad, they've tried really really hard to fill the site with flimsy information.


So far and not so good.

Now there is that 2.9 million in trade. But it's all within itself. If you raise 11 million in an ICO, you can also move 30% of it back and forth each day, making a small profit if you are careful. So, the real bottom of the pit is exposed.

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Lastly, the most recent update from their CEO on Medium

It seems to consist of excuses.

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Coinmarket cap 24 hour volume

Could be wash traded with my pet dogs crypto stash through what essentially looks like the centralized exchange they have built themselves. Just swap the investor capital they got from ICO between BTC and ETH all day, and you get this:

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Ninja Early Verdict: SCAM. Huge holes. Red flags. Lack of technology and actual fact. Non-ICO now using crypto-space to harvest data. You have been warned.

We know What You Are Doing, CryptalDash


** Disclaimer: This is for pure entertainment and is not investment advice. It is intended to help the reader learn about cryptocurrency.


Join my Discord server to connect with me: https://discord.gg/rksg5MR



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Oh my! Your detective skills are impressive. Thanks for sharing.

oh , how could you make such researches , thank you @easyrider !

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I just feed the outta space robot weed and he brings me information

It has my teams 5 Star rating.

What?

Because Etheruem in fact sucks 10000x worse than VHS did compared to Betamax.

What?

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Ethereum does sucks. Apart from running over 100% of capacity for past 8 months with almost constant unconfirmed transactions during that period and very poor chance on real scaling up.

Chee®s

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Well if it isn’t the most authoritative fella I know on these things! Yeah what he said .... nothing to add :)
VHS is Ethereum, Graphene/DPoS hopefully don’t end up like Betamax and Laser discs - hopefully we can leave all the other shitcoins to do that ....

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Laserdiscs were ridiculous.

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PoW networks / 99 Bitcoin forks are ridiculous :)
Smoke on!

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I got 99 Bitcoin forks but being a bitch ain't one, hit me!
--Jay-Z actual quote

Slappin' us up with it Easy! - and with style and humour :) .... great work and analysis. Reminds me of a wise counter-voice to the Netcoins circus on Steem (you'll see in my comment that I felt bitten) - although Steem did win and I guess there may/will be some 'objective' benefit from that exercise.

So good to have the benefit of your deep perception and awareness of the games being played. I am very grateful, and it gives me confidence in the future of smoke.io to hear voices like yours protecting it.

Resmoked!

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i concur, I had way too much fun reading this lol!!

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Haha thanks so much!

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I'm so happy this seems to have been accepted by people, and I'm not being called some fud slinger. It looks really sketchy, and the way everyone was diving into reposting for the rewards - on an un-solicited and un-vetted promotion - is just not cricket man!

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Glad you had the strength of conviction and confidence in yourself and your findings to go ahead and express what was on your mind. That is courageous, that is what makes a difference, that is what we can all learn from!

Br(av)o!!

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Thank you 😊 hopefully ideal of this profile anonimty is the freedom to do so in a way that benefits the community and doesn’t detract from it. I’ve been made aware some main team members can’t publicly support my post, that is really ok.

Now I’m starting a new Discord server, so if anyone wants to contact me or discuss my posts now they can! https://discord.gg/rksg5MR

Hi @easyrider

Your publication is excellent, thanks for your contribution to the Smoke Network.

┌You earn

0.150 SMOKE

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This publication has been selected and voted by the Legalizet community.

Use the #legalizet tag to find your publications

You want to talk? join us!

https://discord.gg/7yVKF63

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Marvelous and honored ...

Thank you for the research. You are obviously right here, no doubt about it.

Not everyone might agree on this, and say ''the more exchanges the better''.

But I don't agree with that, at all. Not when the exchange is an obvious scam. Better to play the long game instead, it will be worth the wait.

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Well, i can confirm that all this diligence is 100% correct and done by someone very well reputed outside of smoke.io and other older dPoS/PoW environments.

I've reached out to Stoner and Fuzzy with this article pointing out the facts.

Chee®s

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Hey cheers my man! Love Ya!

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Thank you so much. I was really worried posting this would get me called some scaremonger. I'm also just going on gut instinct sometimes also .... so i tried to gather as much fact as possible in the article. I could have kept going also ...

or as Ralph Wiggum might put it ...

Gotta live people always finding a way to get over on people. Only time will really show us.

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True words spoken :)

This is like a murder mystery with a twist on my feelings!

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I hope nobody is feeling too hurt by this. At least, tell me please I'm the one avoiding the bigger hurt later, not the source of the hurt ... !

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Maybe I should of put "hahaha" at the end of my statement. We all get caught up in trying to get on exchanges but we do it blindly without looking at the platform. Your research looks phenomenal and Thank You for it.

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Wow, thanks! Very very much ;']

n1 diligence, review and style of writing! It was really entertaining to read till the end and learn all the facts! Please keep style the same, such a refreshment!

Chee®s

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Gung-Ho is the way to go! Thanks, and know how stormed you are with things to do, waiting patiently your friend always ...

Check out my 'mother' profile, cryptoninja.guru ...

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