Since the government issued a ban on ICOs (Initial Coin Offering) at the end of 2017, various ICOs have continued to emerge, constantly refreshing the moral foundation of the spinners.
What is an ICO, what is a cottage ICO, we talk a lot. In short, ICO is a way to bypass the regulatory system for financing. The vast majority of ICOs are cottage ICOs, which is because their issuance data, issuance amount, project valuation, project results, project risk, etc. are not supervised.
In addition to the above, there is also the possibility of fraudulent transactions.
Of course, if we only analyze here, then this article is no different from the blank text of the media such as Coinworld. In fact, this article intends to analyze in depth the conventional means of issuing counterfeit coins, the addiction to peppermint, or even the psychological defense of these coins. Finally, we will give the basic methods of self-rescue of peppermint, regardless of whether it breaks or not (take back the coin, compensate for the loss).
First: The basic means of issuing the coin
This article analyzes the means of issuance by using the example of a shell of a UUU. Here, in particular, it is stated why we call the UUU shell (also known as an air coin), which is legally binding. According to the SEC (SEC) definition, if a coin is issued after it can only be used to trade gossip, and not for any claimed practical application, whether there is a white paper, code, or air currency.
Since 2018, ICOs have also been gradually coming under the scrutiny of the SEC, where non-compliant financial activities (e.g. insider trading, manipulation of currency prices, shell exchanges, etc.) will eventually be punished. Please pay close attention to the big news in March about the regulation of tokens.
1) White Wash
It is well known that issuing ICOs is illegal, and under the legal provisions, the issuing team is subject to strict tracking by law enforcement agencies in both China and the United States until sanctions are imposed; in order to temporarily avoid sanctions, issuers generally find a foreigner as the initiator of the ICO, also known as the laundering team.
The so-called token UUUU team is a good example:
We see that, apart from PROJECT LEAD, the rest of the core members are entirely Chinese.
Apparently, three of the top four members of the team are 99% similar to the startup team of SVINSIGHT. Based on further investigation, we know that SVINSIGHT is a collaboration unit of the issuer of the UUU, U NETWORK (registered in Singapore), while the U NETWORK is actually a joint venture of the founders.
2) The Chinese TELEGRAM group
Since it is a Chinese ICO with foreign sheepskin, its main buyers are the Chinese who are legally prohibited from selling ICOs. We can see that the TELEGRAM group at the bottom of a public statement is a UUU ICO Chinese group. It is understood that the ICO of the UUU is not directly through the issuer, but after the issuer's private offering is completed with the help of the issuer's agency, the private offering agency gradually completes the public offering of unknown persons, that is, ICOs. This has been done in order to profit from within the coin circle, in violation of known rules.
Telegroup information, group addresshttps://t.me/UNetworkCN
In the telegraph group, administrators encourage people to go to the exchange.
In the telegraph group, everyone communicates the costs of ICOs. 3) The exchange in Shanghai
Due to state regulation, it is almost impossible to directly upload tokens, and now the cryptocurrency market is fiercely competitive, and tokens will also choose more reliable tokens for their own reputation.
So,UUU chose to land on a special shanty BIBOX exchange. The exchange's volume is small, making people giggle. In connection with a previously known article revealing shanty coins, we find it easy to find that shanty coins on shanty exchanges, in addition to not going to large trades (in fact, large exchanges are also illegal), more also have the characteristics of manipulation.
However, since the collapse of the currency circle in February 2018, the level of banknotes has also gradually increased; we often see recent 10x, 100x coins going bust on exchanges, even including the hottest so-called GEMS star coins.
We come to the UUUU and it completely comes out of its own way: first it starts off high and falls, then it warms up a little bit, and then it comes to the awkward situation of no one picking up the plate.
The height of the opening bid:https://www.bibox.com/
No one picks up after the chicken In this example, we can easily see the patterns of the shiny coins.
Small exchange listing PUMP+DUMP If there is a second batch of cabbage in the plate, shout and announce: Otherwise, the onion itself will cry Rationalization and rationalize its choices, thinking that it should wait a little longer, without taking any risks, how will it be profitable? Unlike stocks, where once there is no pickle, there is nothing but zero ("value return") waiting for him, and no miracles can occur. Even with strict regulation, a ban on price manipulation and insider trading, these deeply manipulated insider trading drugs, manipulators are manipulating every minute of every second.
In fact, after the UUUU price crash, it is even more difficult, even close to impossible, to go to the secondary market. As we said before, since February 2018, the awareness of cabbage has increased, and under the strict supervision of the state, like last year, the opportunity to list 10x, pull the trigger, ICO investors don't exist anymore.
2, Psychological analysis of the buyers of the shiny coins (apples)
I have experienced such an ICO, after the breakdown, the issuer divides the cabbage into several small groups according to the relationship; the relationship is the best iron, will tell them when to sell, can not greed, otherwise it will continue to fall; the relationship in general allows them to continue HOLD, the most peripheral (especially the TELEGRAM group like this has no threshold plus group, even the issuer has no time to take into account), the rest are cabbage self-comfort: will not collapse, to insist, this little drop can not bear to buy what ICO?
It can be said that it is the awareness of this kind of self-censorship that has fueled the flames of the ICO issuer's open-mindedness to cheat money at a discount.
Instead of pursuing the illegal facts of the issuer, the sponges are obsessed with self-comfort, self-encouragement, power generation with love, until the crowd asks no questions 1) One of the cabbage psychology: I bought ICOs and I'm broke.
However, we all know that history never enters the same river twice; once a pumpkin was cheated, there will be no second wave to be cheated at the same time. XRP, TRX and other manipulative coin bubbles have been falling since then, and there is no turning back. Then, in such a large environment, including the awareness of pumpkin, government regulation, and expecting any ICO to make money, it is nonsense.
2) Pepsi Psychology 2: The big stock market is a dead end
Although ICOs can go bankrupt, you can still make a lot of money by going to a big exchange, right?
Unfortunately, this is exactly the mentality of the vast majority of bag holders. The problem is, as the analysis above shows, under the changing environment, large exchanges are more strict about the screening of shiny coins. Especially for this type of coin that came out of the shiny exchange, manipulated by humans, and finally broke, the attitude of the big exchanges is distant. With the strengthening of state regulation, large exchanges cannot be normally accessed (must be through virtual private networks, etc.), even if not open to users in the United States, mainland China, then the exchange will be counted as 2017 and will not be the same as last year, there are large quantities of shiny plates for you.
And, whether or not it goes bankrupt is not at all a question of whether ICOs are illegal, nor is it a prerequisite for whether or not a lobbyist can protect a legitimate interest.
The value of the coin is a 0 without the onion ring.
In fact, the HADAX exchange on the UUU is a so-called HADAX, an autonomous digital asset exchange set up by a token-owned ICO for citizens to create their own ICOs, based on voting digital payments on the exchange. And the UUU to HADAX, to get 20 million tickets, will need to spend 20 million yuan; according to estimates, 10 billion UUU coins, with a market value of 300 million yuan. (According to the 40% circulation rate, the liquidity value is 120 million yuan), for the exchange to spend 15% of the circulation market.
In February 28, around the time the news about HADAX on UUU was used by the landowners to pull a wave, but after pulling the wave, the movement weakened due to the lack of a cabbage brainless receiver. 3) Cabbage mentality number three: The one who loses the one who swallows in the stomach
And finally, the most frightening mindset, is the one that eats its own fruit. Oh, who makes himself greedy? Who makes himself think of a big penny?
It is true that investing is risky, and each cabbage has to take control of its own wind. However, the ICO is different, it is itself an illegal financing act that escapes regulation. As an illegal financial product, like e-leasing, we should pursue the financial liability of the issuer, not let every retailer eat the fruit.
Of course, the hackers are responsible, but the bosses of the prostitutes can stay out of it? The drug addict is a lawless person, but the person who smuggles drugs and even facilitates drug trafficking, can fish for money and get away from the law? The retailers of ICOs have to pay the price for their greed, but all the losses are turned into the profits of the project issuers, then such a profitable, risk-free, unbridled flames cannot be suppressed, such a blatant and openly fraudulent behavior cannot be sanctioned, then their power grows larger, the fraudulent flowers are more and more, the organizational form is more and more clever, airbending, candy, all happened to take over the entire field, and the final victims can only be us and our grandchildren, and the millennial generation.
This is also why national legislation prohibits ICOs, especially the strict sanctions against ICO issuers.
In fact, the compensation measures of ICO issuers vary depending on the TIER of the ICO purchases. If you don't get a penny of the compensation, that is the real onion, your legitimate interest, you have to fight for it.
Depending on the ICO bankruptcy case you've been involved in, compensation measures can be categorized as at least the following:
Large institutions Direct withdrawals can be negotiated, depending on the agreement of the private investors themselves. Private investors can also be platforms without direct investment. Tier 1 individual investors Direct withdrawals can be negotiated, depending on the extent of the breach and whether the issuer is clearly at fault (false publicity, etc.), but in any case, an ICO would be a breach of the law of illegal fundraising Tier 2 individual investors ETH compensation is based on the ratio of the investment, the ICO channel and the credibility of the individual, your ICO supervisor will give you a certain compensation, mainly channel fees. External investors In this case, the issuer will not go back to worrying about the loss of cabbage in the Telegram group, which will think that there is no compensation. Whether or not the ICO is compensated, it is an unlawful act of illegal collection. If the issuer compensates you, it is only because they are afraid that you will do something wrong and end up going to the police station like ARTS. The whole ICO scandal is not about the cabbage, but rather the price manipulation of the ICO team, insider trading of the exchange, unregulated distribution methods and the non-transparent distribution of profits, the greed of the ICO team.
3, How to cure yourself with spinach
Do we really have to sacrifice a million cabbages to feed a bunch of greedy people and have no choice but to let the illegal ICO team get away with it?
Today, in a time of increasing state regulation, cabbage has at least a few ways to protect its interests:
1) Request a refund
Issuers are also afraid of being targeted by law enforcement agencies in both China and the US. Depending on your TIER level, you can directly request a refund, otherwise you will take legal action, and the issuer will weigh the pros and cons itself.
2) Suing the issuer against the SEC
SEC regulatory news for 2018
SEC recommendations on investment fraud and investment traps If the purchase of a prohibited financial product causes a material loss, the SEC of both countries will accept such a lawsuit. Provided that you have indeed suffered a loss and that there is evidence that the ICO issuer sold the coin to you. Under the laws of both countries, Chinese residents, U.S. residents and tax residents who need to pay taxes in the United States are listed on the prohibited ICO list. ICO issuers fail to meet their obligations to audit, and even knowingly sell the ICO to you in violation, they can be prosecuted.
3) Complaints to the Chinese Internet Financial Regulatory Authority
Even if you have not incurred a loss and have not participated in an ICO, you can also file a complaint through the Chinese Internet Financial Regulatory Authority (CIFRA) because others involved in the ICO have suffered losses. Because ICOs are clearly defined as illegal and fall under the category of securities financing. You only need to find the information of the issuer's company, the name of the issuing team, the evidence of their ICO (listed exchange, price, number of coins issued, etc. information available), confirm the fact of issuance, i.e. report the complaint.
Since every ICO transaction is verifiable, the verification, withdrawal, and compensation of ICOs is actually faster than other traditional financial scams.
The following is the website of China's Internet Financial Regulatory Authority:https://jubao.nifa.org.cn
Scope of legal reporting
Reporting options The regulators will file your complaint and contact you as per the regulations. Some shanty ICOs illegally raised hundreds of millions of dollars, affecting almost ten thousand people, large amounts, bad effects, and are clearly a bold illegal investment. After the notification of the seven national commissions, the case was blown up, avoiding regulation by registering new companies and other methods, but the team members did not change the medicine.
Think about it, in this zero-sum game, what does our society get in the end, apart from the people who don't write a line of code, the people who make hundreds of millions of dollars, the people who lose money, the people who lose money, you as a person who loses money?
I hope that in the future there will be no more ignorant cabbage.