Ox PVMihalache Article: Crypto Yfdex $20 mil scam: Our Take - In Crypto Go With What You Know

By IRUUR1 | SOVEREIGN RACE MEDIA | 13 Sep 2020


FOR PUBLISH OX READERS

 

Recently our publication has turned to solutions to fight the Banking system control now collapsing the worlds economy. Part of our advise is based on the market research of Gregory Mannarino. That is for individuals to get out of dollars into assets and currencies including crypto, which are more likely to hold value or even increase, relative to dollar pegged currencies.

As we began to dabble in crypto and started to report in a couple of articles, we realized how scam likely, the environment was and is. We discussed it 2 days ago. Then we found this article today by PVMihalache, on Publish Ox. We see it as a vehicle upon which to build our observations. We had not seen a major scam on the radar until this great article and it confirmed what we were suspecting. The way we approach the scam environment is our own novice approach, meant for other novices, in need of a framework to build on and not to perish on. 

Any corrections by those with more experience will be welcome, along with any applause if warranted. Thank You PVMihalache


Buying Crypto is a matter of deep philosophical research. The first thing you see when you research cryto is that it often has a high start value that quickly subsides with the hype.

People Bought Crypto Too Quickly

They saw food, Eteherum, and cutting edge so that was it. Scammed again. 

cryptoDeFi food court is as poisonous as a bowl of mussels left in the sun in August. After YAM and PASTA was SUSHI's turn to disappoint the community and exit scam. This was rather surprising as they had a nice build up community and the Sushi project was very popular at the time.  The fast expanding DeFi universe has become something like the DarkNet, full of scams and suspicious projects.

Yfdex mining pool headed for an exit scam and vanished, defrauding the investors of approximately $20 million. This happened after only two days of high marketing on social media. Every single trace of Yfdex was gone.

 Many where convinced to buy quickly because...

GREAT ARTICLE - MUST READ

 

Another DeFi project scam: Yfdex vanishes with $20 million


When  investing in crypto, if you do not trade professionally, you need to consider a few things. The most important is, what do you know about the business the crypto is designed to improve.

Qualifying Crypto; Go With What You Know

For instance a novice investor who is in the food business, could evaluate this scam start up and may not have invested right away. Just liking convenient food, available in a new currency, are not good choices by themselves, for a start up crypto investment. This is true also for a crypto with a track record as well. If you don't understand the transaction process in getting food from farm to table it will be difficult to see how a crypto improves the process, cost effectively. 

Blockchain Currency Valued By Improvements To Informational/Economic Transactions

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The blockchain and crypto are designed to create a trusted, fast, efficient, quality, real value driven, transaction process. Greater transparency, precise dating, efficient verification and other basic transactional needs.  Bitcoin is based on the over all transaction value of the total world volume of computer use, both speculative and real. Ethereum is similar, but adds value for specific types of transactions in the form of different smart contract needs, layered into the currency. 

Then there are other blockchain currencies like HOLO, (which we are inviting your thoughts on),  that form even more decentralized solutions for transactions. Currencies like HOLO, believe both Ethereum and Bitcoin are too slow and wasteful.

HOLO Boasts, a different blockchain solution: Holographic storage for distributed applications. Holochain applications (hApps) are held entirely by people. No trusted third parties. No central points of failure. They enable direct architectural consent and cryptographic communication that are low risk, for less cost.

WHO KNOWS?

We liked the people involved in HOLO, and thought their overview matched potentially solvable solutions and opportunities. Plus we envisioned uses for us and our neighborhood on this application, that would be results=value driven, at low consumer cost, with higher consumer control. But like the developers of these companies, we are finding out what works too. So because it is pennies on the penny right now to buy, and has a track record, we invested a few pennies. 

IRUUR1 RULES OF THUMB

First: Each dollar, or unit of currency invested grows more slowly, the more expensive the Crypto is. In other words; If you buy a crypto worth one dollar that goes up 100% you gained a dollar. If you invest a dollar in a currency worth $100 you get a penny more. The big Cryto's however are the basis of most others. They are highly unlikely to fold any time soon. So they are a good investment to grow in and on as they and their connected currencies, grow in use and prove their added value.

Remember

Both big and small currencies go up and down so don't be afraid to sell at a high point and re-invest at a low one. But be careful. Over the next 2-5 years most big and small blockchain worthy cryptos, are likely to rise in value, relative to many other currencies tied to the dollar. If that happens, then selling too much when you think it is going lower, may mean you miss out, if it is just a bump on the way to a new high.

Basic Stuff To Examine
  1. Consider how and what the currency improves in the realm of all transactions, in your opinion, in the blockchain, or otherwise. How does it improve transaction both in life overall, and for you, or others specifically
  2. Learn the overview of transactions that are important or necessary in life, held by the founders and crypto company engineers. The company vision.
  3. What problem or opportunity the currency addresses
  4. How does it address it?
  5. How do others address it?
  6. Read the Whitepaper Even if you don't understand it in many technical ways, the concept is there. The math and coding terms you will pick up as time goes on. If you don't get it, best to move on, unless you completely trust someone else. Still, they should be able to explain it to you in language you understand and trust, beyond the unknown coding symbols and developer terms you are unfamiliar with. Often the info you need is on the currency site.
  7. Discern the short term and long term prospects
  8. Look at the currency price value history
  9. Apply what you know or can learn specifically about the area of transaction the currency will improve, and add value, efficiency, or trust to
  10. READ PEER AND ANALYST REVIEWS

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IRUUR1
IRUUR1

A MODERN COSMOLOGY GOD IS YOUR PERCEPTION OF THE UNKNOWN BASED ON THE VALUES YOU PROVE ++++++++++++++= YOUR FIVE BASIC INSTINCTS To unfold the unknown To self determine To establish value To create social order within nature To Establish Identity


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