Anyone invest in the project of Binance and Polygon , MEGABSC?
Since no one else has responded I will. I’ll open by saying I’m not a fan of pre-mined, I am bias.
So right off the bat , I think scam. to an extent, I assume they are legit but anyone putting value to nothing they intend to sale is highly suspect.
So lets talk company directive/mission they are making a Defi Alliance Protocol . Which tells me volumes. They intend to use Smart Contracts tied to another poop coin to grow there value. They will likely use these same Smart Contracts on BSC/BEP to form a foundation for their staking. Staking is Usury- an exact thing BTC was created to fight. So there entire company token is based on a concept crypto is design to fight. (lets not even ask “how” they intend to profit themselves or how they intend to pay off the staking contracts, because they hide that info)
Looking at the fact they failed Certik verification, while also listing Certik as a partner is pretty stupid. Not like that means anything. I don’t remember the part of Satoshi’s white paper where he talked about Verification companies regulating something that belongs to the people while they make their own rules and standards for what is acceptable in the decentralized financial world.
There initial supply of 1 million , but total supply of 5 million … so only 1/5 will circulate (this is what you might be proposing to make money with???) I find there token distribution absurd. They misuse funds all across the board IMO. Seed investors get more that pre , only 40% gets released to public (of the 1/5) . Look at there web site … notice the numbers don’t add up and the " , " (comma’s) are in the wrong place. “Technical geniuses”. They are “pre-mined” with “Block-rewards” . Oh… but they are Insured by … hold your laughter … “100% backed by The Mega-Bsc Insurance Fund.” So they are insuring themselves. /facepalm
So now that I’ve ripped them for being con-job hacks who would not know real crypto if it was flying out of there mammies Vag and bouncing off there foreheads. Lets consider the Investment/investor angles.
So what I ask myself is “is there con good enough that I can profit”. I would say Yes. They seem to have done most of the tech stuff correct (by the pre-minted shitcoin standards). But more so BEP/BSC will only support tokens/projects that they themselves (binance) can profit from. So in a way Binance has put more at stake than you (the investor) so you can almost bank on that concept alone.
So lets talk another angle. They did do a Bitcointalk.org announcement (which is Kudos to them for doing it correctly) where they announced there project and do Q&A . That is a major Plus.
But there is something new here, I suspect. There announcements are in Korea, Chinese and Spanish/Portuguese (along with English). South America is an emerging market for crypto currently. So I almost feel/think this is part of a broader action for Binance (BSC/BEP) to move into Latin America. So Binance will now back S.American/Latin creators more in the coming future, this might be part of that plan.
I hope this is decent opinion/info. Like I started with, I am bias. Pre-mined = NOT Satoshi Vision. So take my opinion with a grain of salt. I’m just another one with an opinion.
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Really appreciate you taking the time to respond. I too was feeling like this was a scam, but, Binance and Polygon have a lot to lose in doing so. Time will tell.
Thank you
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Are you going to buy in. Pre-investor level? Do you know how to handle Pre investment ERC? What I mean is how/when to dump, then how to buy back 2x more for 1/2 the price?
I do a lot of pre investments. most of them I dump ASAP, with no hope of HODL. Hodl is almost an outdated idea since ERC shitcoins have flooded the market.
Let me say a run down. So I’ll buy a pre-sale token for lets say 3 cents or 60 Satoshi’s each. On opening day, markets will open at 6 cents. Generally they double on day 1, first 6 hours. So say 12 cents. Then over the coming days it drops, as volume hits the open markets, to lower than pre-investment prices (less than 3 cents).
So I double + my investment on day 1. Take the capital back, use my profits and wait 3-5 days and buy back more tokens for cheaper than I purchased on Pre-sale. From there … hodl or mid-term (usually a quarter to half year). All these Tokens are a different world than real crypto Coins, IMO.
ERC is its own thing. then add poly, luna and kava into the mix… it’s getting nutts.
I’m not sure at this point. Trying to research the project and doesn’t seem to be much out there. I own/traded both BNB MATIC and believe in both going forward. Just something about this project isn’t sitting right with me.