/biz/ - Business & Finance

>>16673775
Scammer Andy is so crazy and the chink team exit scam so profound that what was promised in the ICO, a dag with 300 000 tps, is now an Ethereum fork with around 200-300 tps. How the hell is that not an epic scam for all to see?

adrienv1520 has very good observations and conclusions. He knows what he is talking about unlike the fanatic and rabid Fantom scammers/"investors". Just for the record, I am not him.

>>16673775
Fantom is one of the most obvious scams in crypto. Good grief, look at those tweets... Sadly the regular Fantom investors are too stupid and ignorant to see understand it or they just don't care, because they are scammers. Either way, tragic.

>>16673775
Fantom is a scam and they can never deliver their 80K tps, 50K tps or whatever they are claiming. The basis of the consensus algorithm is just DPoS.
1. a set of nodes is selected via DPoS
2. these nodes generate blocks as fast as they can
3. they settle on 'absolute time' using BFT (details appear very susceptible to node-level DOS but let's ignore that) and assume literally every DPoS node is honest). This is called 'atropos' and it also creates a dag of valid 'event blocks'.
4. then each node processes all !!!! event blocks from all nodes. When there's a conflict between contradictory transactions, a transaction that's earlier according to the absolute time is chosen..
An extremely peculiar quote from the whitepaper:
>As each node processes all transactions that are broadcast to the FANTOM network, it should provide excellent transaction processing speed.
what this means: throughput is fundamentally limited to the parallel capacity of any individual node. This is fundamentally less scalable design than sharding, which makes the consensus parallel itself (each node only verifies a subset of blocks).

This would be relatively easy to implement for utxo-based transfers, but for smart contracts it becomes a pita. EOS tried to make parallel processing work, but they decided the overhead from detecting conflicts makes it too costly, as too often the state access is sequential anyway (a simple thing like a contract that increases an internal counter each time it's called can't be parallelized!). That's why they settled on 'inter blockchain communication' which is really an inferior version of sharding and an admission that Vitalik was right.
Sharding wins because it makes parallelism explicit: smart contracts have to design for it. So instead of one global counter, there would be many parallel counters on each shard and periodic accumulation of them all.

A detail of their 'lachesis' consensus is that it's _extremely_ wasteful in terms of bandwidth

>>16673812
>A detail of their 'lachesis' consensus is that it's _extremely_ wasteful in terms of bandwidth
as at worst O(n^2) bandwidth used for O(n) of processing. That's because nodes just spam every block they generate, but at worst only one block from all generated at any second is going to be valid. So each node generates n blocks, there are n nodes, giving n^2 blocks, but only n blocks turn out to be valid at the end.
This is a really absurd design decision. If they forgot about their absurd 'DAG' design and just moved block generation to one node at once, but with parallel processing (same throughput) all that waste would be avoided.
This signals that they have no idea what they are doing, so the real TPS - for real transactions, not specifically designed parallel tests - is almost certainly going to be in the low hundreds, making it a yet another forgettable DPoS network

>>16673775
Fantom was an ICO scam. The gook founder doesn't know how to code, and the team were all fake. None of the original team are left. All their partnerships are fake (there is no substance behind them).
>lied about 300 000 tps, claim to deliver 500 tps (another lie, will be far less), lied about Visa having only 2K, truth is 65 000 [1]
>Whole chink team exit scammed. Devs totally gone and management exited to a different legal entity to avoid future class action law suit, they believe,
>lied about mainnet
>lied about banks (sold Goldman Sacs, got some half ass African bank, maybe)
>Lied about smart city Dubai
>No attempt to go global whatsoever, no attempt to get parnership with any global tech company
>Chink scam tokenomics. 60% of global supply to founders and friends. Now trying to hide it with a fraction of 60% to nodes, maybe. Still 45% to founders and friends.
>Get used to founders and friend to dump on you until Ethereum 2.0 and Fantom goes to zero
https://icodrops.com/fantom/

Total chink scam, probably the most obvious in crypto.

[1] https://usa.visa.com/dam/VCOM/download/corporate/media/visanet-technology/aboutvisafactsheet.pdf

>>16673775
Selling their chink scam to investors they lied through their teeth about 300 000 TPS. Reality now is less than 0,2% of what hey promised, if so much at all and if a functioning mainnet ever. No smart contracts. ICO investors are preparing a class action lawsuit.

FTM will lose the coming class action lawsuit. Their promised 300 000 TPS would have had enabled a global currency without any second layer solutions. What they will get now, maybe, is 30 000 TPS. You can not get a global currency for micropayments with that. Nor operating a smart city or whatever. ETH devs are working hard to get million(s) of TPS. FTM promised falsely that they would be able to compete with future ETH 2.0, with only 500-2K TPS or far less, they have no chance. You can't just underperform 99% from what you promised in a ICO, without some kind of force majeure

>mainnet launches
>pumps .5%
Congrats pajeets

>>16673775
Would you buy a used car ever from scammy pic related? A guy that was a "code reviewer" and demanded to see the confidential codes from competitors of Fantom to "review" them, only to run away to Fantom later on? How scammy and dirty is that? Unheard of in crypto space.

>>16673775
What kind of morons "invest" in a chink scam coin where founders and friends have 60% (!!) of total, global supply? You have to be insane to do that. Ethereum foundation had 1% and Vitalik sold his ETH at $7. Chink scammers will dump on you into oblivion. Same with satsgang

Distribution. The 3.175 billion FTM will be distributed as follows:
40% token sale
30% market development
15% advisors and contributors
15% FANTOM team and founders

https://www.finder.com/how-to-buy-fantom

>>16673775
Mainnet 3Q 2019. Lie. What a chink scam. Enjoy your gook coins, if you ever get them

The fact that they missed their own deadline means they made a serious mistake or misunderstanding of what they were working on.
Honestly it shows that they might blunder in many of their delusional estimations.

>>16673775

Have any of you fanatic Fantom fanboiz read the whitepaper? Just because something sounds complicated does not mean it will be useful or will even work. Usually the contrary. Take the chainlink idea. Brilliant in its simplicity, but anyone can see that it will work. Aggregated data combined with KYC to establish a trust-able base, and the mixicles idea is brilliant too. You can see how it makes sense, swapping up data at the oracle level for privacy.
Now take Fantom. To me it looks like a complete mess. Nothing really new in ideas either, Lachesis protocol is just a minor rephrasing of IOTA's tangle idea, which we know does not work. No proof of concept anywhere, and yet the paper devolves into complex ideas upon ideas upon this lachesis thing, leaving a convoluted mess that obscures the fact that the min protocol hasn't even been tested.
Maybe they are serious. Maybe they think they're serious. But to me it just looks more and more like another project doomed to fail.

>>16673775
Their main partnerships are with corrupt African banks and one of the most corrupt nations in the world, failed state Afghanistan. It's hard to get clearer scam indicators than this.

Every idiot should be able to identify a scam when the chink scammers will have 60% of all tokens. How stupid do you have to be to invest in such an obvious scam? Enjoy the team dump on you until the shitcoin is turned into oblivion by Ethereum 2.0. Enjoy your gook coin. Enjoy your future class action lawsuit from ICO whales.

>>16673775
Problem is its b2b and if you use sc logic shit is slower than bitcoin lmfao
So they pivoted from smartcontract dag and smartcitys bullshit to mainets for banks really fast if you noticed.
Thats the thing everything is realtive so first red flag for for everyone should be
>comparison chart and no working product

News so excite , this coin i hope will bring me Christmas gift of glorious toilet , pooping on street is not so fun any more dears :(

>>16673775
ICO whales are preparing class action lawsuit. Promising dag technology 300 000 tps and smart contracts and delivering Ethereum fork 300 tps (lie, will be much less) and no smart contract is fraud. They knew they could not deliver their promises at the time they wrote their scammy white paper.

>>16673895
You can fud all you want you piece of trash. Seems like you have way too much time on your hands. Your life must be amazing! All the true believers will pump to Valhalla you’ll be pumping into your semen encrusted undies another lifetime alone. Check em

>>16673775
FANTOM must be the most important coin on here judging by the amount of energy people expend on both sides.. nobody would fud this hard if they wren't holding and trying to buy lower. Disregard the words.. look at the consistent obsession with the project.

>>16673895
First of all you won't be able to sue anyone.
Second, tech is not important at all in crypto, and never has been. I know you like to think it is, like you're buying stock in some tech startup or something, but it literally dosn't matter in this space at all
What matters is
>news
>marketing
>pumps
Everything else is meagningless

>but mah tps promises!

>>16673883
Get a job and the fuck off chan you Mong!

>>16673895
>2/3rds of the threads posts are yours
Anon are you autistic

>>16673775
>scam

imagine still holding this scam... Time for you scammed Fantom "investors" to put down your crack pipe, video related.

One of the most obvious scams in crypto. Chink team exit scammed long time ago. All you have left is a giant marketing department and some Russian temp devs. 300K TPS lie was their hook, line and sinker. ICO whales are preparing class action lawsuit. The whole scam is imploding.

>1. FTM now promises 500 TPS and not the 300K. I believe that is a lie as well. My guess 300 TPS MAX and they have already stated no smart contracts (later, sometime, somewhere).
>2. FTM openly lies about VISA, claiming they have only 2K, while reality is 65+K TPS.
https://usa.visa.com/dam/VCOM/download/corporate/media/visanet-technology/aboutvisafactsheet.pdf

There is NO way FTM can be a global provider with only 500 TPS. VISA has 65 000 TPS and they are not targeting micro payments, nor are they global. They are only calibrated for persons with bank accounts, i.e. minority of the world population. FTM can't handle any of that, not even a fraction, and they claim to be the future global crypto with smart contracts, micro payments, fintech, etc.

How is this not an exit scam? Please explain:
https://twitter.com/adrienv1520/status/1201953110501023744

I would sell Fantom if I were you. My guess is that this will just get more and more ugly and result in a crash. DAG and MTV are great buys. ETH is by far the best if you are risk averse, they have the best and largest dev community in the world and big business are banging on their door to team up with them. Compare Enterprise Ethereum Alliance with Fantom's dodgy third world banks alliences and failed state Afghanistan. It would be laughable if it were not so tragic. Here:
Enterprise Ethereum Alliance
https://entethalliance.org/members/

Ohhh mein gottt sirs dis so bullish for fantom token .. ,,, just like when chainlink mainnet ..,,, mainnet always pump tokeb price like chainlink ,, remember link token ,,?? Fantom just like link token , please buying it , !

>>16673812
>>16673822
Is this pasta or did you write this?

Im not even invested in ftm, but all this terrible fud make me reconsider

>>16674005
https://github.com/Fantom-foundation/go-ethereum/commits/v1.9.8-ftm-0.3

>14 posts by this ID

>>16673905
>>16673906
>>16673911
>>16673922
The retarded and delusional Fantomboys are just the same as Bitconnectboys. Even the same arguments. The red flags are there for all to see.
Fantom Team:
>Fantom was an ICO scam. The gook founder doesn't know how to code, and the team were all fake. None of the original team are left. All their partnerships are fake (there is no substance behind them).
>lied about 300 000 tps, claim to deliver 500 tps (another lie, will be far less), lied about Visa having only 2K, truth is 65 000 [1]
>Whole chink team exit scammed. Devs totally gone and management exited to a different legal entity to avoid future class action law suit, they believe,
>lied about mainnet
>lied about banks (sold Goldman Sacs, got some half ass African bank, maybe)
>Lied about smart city Dubai
>No attempt to go global whatsoever, no attempt to get parnership with any global tech company
>Chink scam tokenomics. 60% of global supply to founders and friends. Now trying to hide it with a fraction of 60% to nodes, maybe. Still 45% to founders and friends.
>Get used to founders and friend to dump on you until Ethereum 2.0 and Fantom goes to zero
>https://icodrops.com/fantom/
>Total chink scam, probably the most obvious in crypto.

[1] https://usa.visa.com/dam/VCOM/download/corporate/media/visanet-technology/aboutvisafactsheet.pdf

>>16674042
Thx, just bought 500.000 FTM

>>16674053
Just like the Nano idiots did, pic related.

>>16674062
I'm going to buy more thx to you

>>16674062
I didn't even know this project exists until you started pushing all this fantom threads up. I guess if someone is so butthurt about it, it has to be good.

>>16674095
You must have a TON of BCC. Great trading strategy there. How much did you lose?

We’ve done it! All the fud, all the seething jeets. The main net is live boys and wallets to be live in the 7th of January. This could very easily hit $100 June 2020. Just wait for all the news to hit. It’ll probably be a slow ramp to the top but we’re going to make it.

THIS IS INSANE!
>Proof Fantom is a basic Ethereum Clone
This is what they launched. They must have bailed out of their original codebase.

Every change to the repo is naming or cosmetic. There is NO NEW CONSENSUS ALGO and NO DAG
>>16674088

>>16673812
Can you link the sauce of this? Where did you find it? Genuinely interested as I want to read the rest of the post (if there is one)

>>16674101
Denny I know you're grouchy DAG has been waterfall dumping for a week but it's time to face the facts: Fantom now has a working product leagues better than eth or anything similar. Screaming scam at this point only immunizes biz to any future legit fud. You lost and continue to dig yourself a hole of indian shit kek

Plenty of FUD awesome. Now I know this shit is a fucking 100x.

>>16673775
>More.
FTM just cloned go-ethereum like every other scam shitcoin.

https://github.com/Fantom-foundation/go-ethereum/commits/v1.9.8-ftm-0.3

There is nothing to this.
>>16674010

>>16674201
>19 posts by this ID

>>16674179
>Plenty of FUD awesome. Now I know this shit is a fucking 100x.

>>16674264

>>16673978
It’s a pasta, I’ve seen it so many times in different threads

Has the Nano autist set his sights on ftm ?

>>16674160
Go to github and see this is pretty useless fud in 2 minutes. It's all there

>>16674624
They falsely claimed a dag. They never communicated to the market that instead of the world's most advanced dag with 300K tps and smart contracts, they would get an old Ethereum fork with a dag like structure on top. If they did, mcap would have been less than 1M and zero pre-sale/ICO

Fantom is a Scam run by ponzi scammers.
No real world businesses will ever touch it.
It's all a shell game, hence staking on different maninnets..
NO PAYING CLIENTS
NO REVENUE
>GAME OVER

That's absolutely true.

>>16675631
Fantom Is receiving funding from bank clients you retard.

They are also working with one of the biggest household names which I believe is about to be announced

>>16673775
... and no one cares

>>16674005
It looks exactly like chainlink threads looked back in the day

>>16675959
Fuckin sauce now