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/biz/ - Business & Finance


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10912360 No.10912360 [Reply] [Original]

lol, you are mentally retarded if you aren't in VeChain right now. brainlets continue calling it a chinkscam. as always, /biz/ hates money. stay poor fags

>> No.10912372

>>10912360
unironic chink scam sage
zoom out

>> No.10912377
File: 651 KB, 1200x799, vechain china hustle.png [View same] [iqdb] [saucenao] [google]
10912377

>>10912360
deluded bagholder spotted

>> No.10912396
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10912396

I almost admire vechain's ability to scam. They really did their homework. When one scam dissapates, another one takes it's place. They used all the classics too.

>timing the ICO on a bullrun when people are least suspicious
>implying they are chinacoin or "connected"
>implying they are Western by reaching out to small Western companies (DNV GL is a small company)
>implying they are international by having a presence in Singapore
>evolving from a supply chain to a platform to a worldwide financial system
>shill armies on reddit and telegram suppressing discussion
>listing yourself on one exchange
>partnering with a wash trading site to pump your volume
>creating tokenomics that force people to hold or buy preset amounts
>creating a news cycle by manufacturing your own (medium)
>cult of personality (Sunny Lu)
>contests, airdrops, and giveaways
>"stealing" ICOs when most are failures
>taking code and repurposing it as your own work
>absurdly long whitepapers and financial "reporting" riddled with jargon meant to confuse people that are impossible to verify
>changing the rules and parameters as you go
>hype marketing (CCK and CREAM)
>constantly implying thing are happening tomorrow, or next week
>call everyone who disagrees with you FoxyIT
>pump a bunch of money back into the tokens
>pump fake transactions to make it look like your chain is being used (then stop)
>imply you are going to save the children in all of China by tracking vaccines
>put an RFID chip on a sticker and call it tamper proof
>have Teeka shill it

Current scam: "September 1st the phoenix rises from the ashes" aka we're gonna dump

Anyone got guesses what's next?

>> No.10912431
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10912431

LMAO it's another "partnership" with a Chinese company

>> No.10912465
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10912465

>>10912360
shoo shoo chinkjeet

>> No.10912500

>>10912377
Vechain is nearly ATH in ETH, how someone can be bagholding :D

>> No.10912520

>>10912500
VeChain and ETH have something in common, they're both going to zero by 2020

>> No.10912525
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10912525

>>10912500
kek what

>> No.10912542

>>10912396
I admire this pasta

>> No.10912548

>>10912360
>BMW
HAHAHAH

>> No.10912549

>>10912525
>June
It is September now you fucking salty walty

>> No.10912563

>>10912549
>wtc
get a new cope mechanism i don’t hold china hustled bags kek

>> No.10912569

>>10912360
The essential difference between Vechain and Walton is the layer at which the blockchain is implemented. Walton has patents on the txID-reading RFID chips with memory, which allows the blockchain to be implemented in the foundational level through the RFIDs. They are world leaders in chip technology, and make their own chips. Vechain does not make their own chips. They outsource the hardware, and have the hardware made compatible with their blockchain via API. So their blockchain is implemented several layers up in the application layer, through business-centralized control. So, Vechain is inherently less decentralized and less secure.

This is the essential difference, and it's not a deal-breaker for Vechain, but it is a fact, and it does matter. Walton is somewhat ironically better at authentication than Vechain for this reason, despite Vechain's original main use-case as an anti-counterfeiting product (they've since expanded their use-case into cold logistics and other areas).

But there are other advantages to making your own chips. Vechain is using someone else's hardware and then repurposing it for their blockchain. Walton has built the chip from the ground up to be compatible with the blockchain and improved the standard chip to be much more advanced, with encryption, fine minute movement detection, anti-collision logic to prevent skipping, low voltage technology so the chips can last more than 20 years, and other advancements over standard chips. Making their own chips also makes them cheaper. Standard RFIDs are 15 to 20 cents. Walton's are less than 5.

>> No.10912597

Can you post links to press releases from the partnerships (not dnv or vechain, but the counterparties)?

>> No.10912611

>>10912597
They don't exist

>> No.10912658

>>10912611
Well the dnv one was legit (press releases on their website). That's why this thing is confusing, the rest all feels so scammy.

>> No.10912670

>>10912360
I often wonder if people really believe in this or are they trolling? I think the vast majority of Vechain, or any other Chinese related coin are simply ignorant of how the Chinese think and do business.

I worked for a distributor of Chinese made goods for about 4 years and it was a fucking nightmare dealing with those "people." A lot of double speak, false promises, late deliveries and just bad business. The would outright lie to any potential customer. On their business pamphlets it showed this huge, high tech, clean factory. When we visited the facility it was a fucking dump in a tiny rented warehouse in an industrial district. Their capacity wasn't even 10% of what they claimed in any brochure or when talking to them.

These "people" weren't the exception, but the rule. When we went to other manufacturers it was like this was the standard to outright lie and just try to hype your business up.

I have stories if anyone is interested.

>> No.10912703

>>10912670
Yes please I'm dealing with relatives invested in Ven and they try to get me to buy in all the time.

>> No.10912757

>>10912703
Please bear with me I don't have any of these typed up.

>order some isolators
>simple enough devices
>have two wires for antenna
>they fuck it up and solder the wrong wires in place (crossed them)
>apparently I'm the only one who can solder
>weeks of OT fixing the issue on over a thousand units
>we alert the manufacturer of the issue
>"dat no probrem. dey suppose be rike dat. no warranty now you break dem"
Fortunately they all worked afterwards and didn't have any other issues but their inability to take responsibility really struck me bad. This was very early on working with them. I was still in the "everyone is equal and has the same morals" phase of being young and naive. It was a huge wake up moment.

>> No.10912812

>>10912757
In the steel industry. Everything looks up to code. Your first purchase order will be fine. Then they'll slowly sneak in smaller lower quality gauge steel. They'll sneak them in a couple at a time until 20% or so is shit steel. Then you come back to them informing them, and they'll act dumb and say it was a mistake. Next order looks fine...then it starts back up again. We had to have a Russian company mediate the shipments because it got so bad.

There's was a story I read about where a guy bought like 30k$ in hard drives that were supposed to be 1TB.. He get's the box and the top layer of HDs are the 1TB and the rest were 1gb HDs. He spent his life savings on a deal he already had sold, but the chinks scammed him and there was no repercussions for it.

>> No.10912834

>>10912757

>be on "factory" tour
>by factory I mean small warehouse with a few casting machines
>one bead blaster
>one CNC machine
>claims they can output 100K castings in a month
>they would be lucky to get 1K out a week working 24/7
>these details have bearing on the main point of this story
>they get a phone call
>they're speaking in their bug language
>no idea what they're talking about
>they said it was another customer ordering a lot of castings so we should place an order now and they would put us ahead
>owner of our company says not right now, we'll call you
>turns out he knows enough Chinese to understand some conversations
>it was a customer on the phone
>customer was asking for a factory tour
>the factory chinks were talking to each other on how to lie to them to keep them from coming
>the one guy giving us a tour told the other guy to "tell them a better story than we told them (us), because they're here now and it's a problem"
>obviously we didn't go with that casting house
This shit was pretty much the norm there. It's actually worse in India, but those are stories for another time.

>>10912812
I wouldn't doubt it. Never tried to buy raw material from there, but if it's anything like their manufacturing it has to be scam tier dodgy.

I really wish America didn't get rid of so much manufacturing to China. It really isn't worth the money you supposedly save.

>> No.10912846

>>10912834
>>these details have bearing on the main point of this story
*no bearing

I meant to say they have no bearing on the main point of that story. So not only did they lie about production capacity, but that wasn't even the most egregious part of that story.

>> No.10912870

>>10912834
>I really wish America didn't get rid of so much manufacturing to China. It really isn't worth the money you supposedly save.
Thank Bill Clinton. Fucker sold us out and gave north korea a fuckin nuclear weapon guidance system.

>> No.10913044

>>10912870
All the trade deals we have had thus far pre-Trump have been a real shit show for us. I'm glad we're at least talking about renegotiating.

>nobody over there is actually an engineer
>nobody knows what the fuck they are doing
>everybody basically phones it in and hopes that things work out
>typically all their electrical schematics have other (western typically) names on the schematics
>didn't even bother cropping the drawing or shopping their own title box
>mechanical drawings are typically done by someone who got an illegal copy of solidworks and is semi competent
>still have dimensioning errors and they don't under stand the purpose of flatness, finish, or other essential engineering concepts
>if a worker leaves that company they will take all the drawings/files/information they can to another company or start their own manufacturing company
>have seen our company drawings at manufacturers whom we have never had contact with previously
>we're a small potatoes company, like less than .1% market share
>still have our shit stolen and distributed
These people are incapable of individual thought or creating anything. They steal whenever possible, or will sell the information. If you have any type of intellectual property license/patent, don't expect that shit to hold up.

>> No.10913097

>>10912525
You know it pumped hard afterwards when you see this ridiculous crop

>> No.10913161
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10913161

>>10913097
>it pumped
>it must be good!
I want to feel bad for future you, but with all the warnings you should have known.

>> No.10913171

>>10913161
jesus christ we're still in the middle of the bubble phase

All this useless shitcoins pumping are a bad sign

>> No.10913176

>>10913171
*these
fucking xanax

>> No.10913191
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10913191

>>10913161
> Price increase is bad
Ok then do not buy vechain if you are not looking for gains

>> No.10913199

>>10913191
>gains
ATH was 9$ and now VeChink is worth the equivalent of 1.8$

>> No.10913220
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10913220

>>10913171
>still in bubble
I don't think so. I think we're close to the bottom of phase 2. When we start to approach phase 3 we're going to see all the scams die off, and real crypto projects will more than likely soar. Right now these little pump and dumps aren't anything to really marvel over.

>>10913191
>price increase is bad
I never said that. However, no new developments, no proof of concept, fake partnerships, and lies are pretty bad. I understand that man people invested in Vechain are basically cult members as of right now, but I can try to share my experience dealing with the Chinese to get people to understand that they're invested in a scam.

This goes for ANY Chinese coin whether it be vechain, walton, nano, etc.

>> No.10913254

>>10912500
This is some next level of delusion right here.

>> No.10913276

>>10913199
So price decrease is actually bad? You do not make any sense. Also I would have no issue agreeing on the fact that it bubbled in january with most of the other alts if it is what you are implying. Does not mean there are not nice gains to be made from today's price.

>> No.10913936

>>10912812

I used to do well with dropshipping - for about a week each time I'd get into a new market. Then shit like above would occur, or I'd discover a mysterious seller undercutting me. See, the things is with Chinks since it's a race to the bottom, to see which one can fuck over the others faster, they'll ALWAYS scam you. They won't even do it like a White guy would, taking the time to build up long term trust, delivering properly on small deals etc. Nope, when a Chinks sees a golden goose they kill it immediately and toss it in the pot for dinner. Why risk another Chink getting to it first? Dealing with Chinks was my final redpill on the reality of race. Fucking little bugmen are irredeemable subhuman trash, like jawas with less charm. The sooner decent 3d printing and CNC makes factory lines obsolete & their economy collapses the happier I'll be.

>> No.10913985

>>10913936
One of my favorite's is when some chinese company claimed to have a micro processor on par with intel. They held it up at a conference, and once people inspected it, it was just an intel chip with the logo sanded off.

>> No.10914085
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10914085

>>10913276
There are actual good projects that are also going to gain equally or perhaps better that you won't have to lose sleep over a potential exit scam like you do with VeChain.

Also, seriously, the VeChain community is such a cultish echochamber of delusion that anyone who hasn't bought it yet certainly is not buying any right now. Walton used to be one of my main holds and just seeing how VET and WTC communities act has made me want nothing to do with either again. Yeah MAYBE you'll get some greater fool to buy your bags but you might just get stuck with them too.

>> No.10914197

>>10914085
Lol who cares about retailers. This project is interesting because it takes advantage of vechain's connections with 500 fortune level companies. Better get some exposition to that. I agree that you should hedge though, getting in a western dapp platform as well could be a good balance .

>> No.10914236
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10914236

>>10914197
>tell you I'm not touching any of these coins
>shamelessly shills it anyway

Are you real? Are you actually a real person? Do you get paid to do this or something?

>"this is seen in their empty insectoid stare that implies they're dead inside, giving them the name bugmen."

>> No.10914247

>>10912360
>This is not a white paper...it just isn't

>> No.10914275

>>10912670
No people are gullible and all these morons think investing in some chink blockchain is going to make them rich.

That the chinese government is going to somehow adopt crypto. Meanwhile they are doing everything in their power to ban crypto for the 18th time because of all the chink scamming and capital flight.

Only a fucking moron can't see the obvious. It's mindblowing really. But just goes to show you how much dumb money is out there. The best capitalists extract money from these people.

>> No.10914276

>>10914197
>calls is a Dapp platform
Vechain is centralized database not a blokchain
>closed source
Not secure, get rekt

China hustle

>> No.10914322
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10914322

>>10914276
>Chink

>> No.10914329

>>10914275


china is banning foreign cryptos to make room for domestic's!!!!!!!!

>> No.10914336
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10914336

>>10914329

>> No.10914356
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10914356

>>10912396
Glad to see there are still sane people out there that can see this is chink garbage

>> No.10914403

>>10914322
Nigger bagholder

>> No.10914414

>>10914329
Hopium is a hell of a drug