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/biz/ - Business & Finance

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22418132 No.22418132 [Reply] [Original]

Why does this keep dumping to 30 cents? Seems like we can never break out.

>> No.22418279

>>22418132
I was wondering the same OP.

A lot of positive news and generally seen positively amongst the community. Yet, here we are.

>> No.22419215

this is why:

Message from Marten


Good morning!

As Jack said, there should be an explanation about the unexpected token movements this morning.
The explanation is simple and yet unpleasant, the recovery key for one of the company hd wallets has been exposed.
The unallowed access led to calling the transfer functions of token lock contracts (anybody can do that) to the defined target addresses, which were part of that company hd wallet.

1,93 mio locked UBT have been moved that way, additionally one of the “personal” wallets, that had been distributed to team members earlier that year.

Our current state of the token model states that locked tokens are not planned to enter open market again, which – obviously – just happens.
We feel terrible about that accident, and are currently ensuring that no other assets are harmed.

We already contacted all clients that are connected with these projects and workshops, and as their locked in UBT already had been converted to transactions they are allowed to use within our solutions, they have no disadvantage. The contracts also had already been expired, so their buy back opportunity was also over.

So the only remaining negative effect is that these tokens are obviously sold on the market.
Ironically, we are currently preparing great news on a professional custody integration that will be the next step for the utility of UBT as the “Universal Blockchain Token”. Part of this news will be the replacement of token lock contracts by a fully automated integration into custody, incl. the coverage of underlying transaction costs in other crypto currencies, like ETH or native blockchain tokens. The event today showed once again how important custody is in enterprise environments.

We are deeply sorry this happened and we will give our best to make up for it with great news about development, clients and partnerships, like we did in the last weeks and months.

>> No.22419269

>>22419215
Is this real? Kek. I bought at 2 cent and sold at ~45. Have yet to really buy back in big time, but if this pos drops to 20 cent or lower, I might actually reconsider it. Thanks for sharing btw...

>> No.22419300

>>22419269
it is actually real
i waited for months to grab a bag then this shit happens

dont know if i should sell now while still in profit or not

>> No.22419328

>>22419300
theres also still like a million tokens left to be sold

>> No.22419392

so not only is the token not needed but they cant even figure out how to keep them secure? amazing team

>> No.22419414

wow. fucking brainlets. long term this isn’t a lot since it’s less than a million in value but still... doesn’t make trusting them easier lol. whatever i hold some still, don’t give a damn if it goes to 0. the community is uber cringe too.
sucks because it was so promising and price started picking up too. giga yikes

>> No.22419430

>>22419269
same but with the difference that i bought back in after recent SAP news
premined shitcoin, i wonder if the „leak” is actually Stephan’s weak hands

>> No.22419451

pumped because of chico, nothing more.
vaporware
thin air
no token needed
literally NOTHING.

>> No.22419482

that also means they „lock“ tokens by just moving them to a unibright controlled wallet? kek guys, they might aswell sell them or manipulate the price with the „locked“ tokens

>> No.22419526

so thankful i bought link early, everything else is unprofessional shit or scams. crypto is a joke still. btc, eth, link. everything else is garbage

>> No.22419544

yeah this is all absurd
think i'm gonna pull out

>> No.22419702

so fucking cringe. „we’re sorry it won’t happen again, promise“ yeah no shit that’s what the girl told me to when she fucked my friend behind my back while keeping me for later. that’s what the always say, but in the end they just fucked up and nothing will restore your faith in them. unibright team are fucking boomers that want to turn their consulting firm into a muh blockchain project with enterprise backing but they can’t even „lock“ tokens and they created an overly sophisticated token model instead of just using fiat. their community is braindead as hell, the admins literally are too dumb to read and they just give companies service for fiat. it was rigged from the start and we got played by some german niggers here. seriously, fuck you stefan, fuck the other faggot too, fuck jannies and fuck crypto cucks. i’m gonna sell my semi pathetic stack now and will buy like 1k link instead. i’m disgusted

>> No.22419767

I sold this a while ago,hype is dead

>> No.22419838

>>22419702
same here
just got out with a slight profit and shall give sergey my money gladly

>> No.22419883

I think these enterprise blockchain solutions just take too long to roll out and cost too much money. Then the team has to sell to fund development. Then they have to spend money to convince enterprises to join the ecosystem. It’s so much easier to just make a DeFi product. I’m gonna stick with what is available for use right now or in the next month.

No more of this, “in 5 years everyone will use it.” That’s bullshit

>> No.22419894

>>22419451
>vaporware
https://www.sapappcenter.com/en/product/display-0000059272_live_v1/UB%20Framework
Stay poor

>> No.22419945

>>22419894
wont matter when there is no incentive for anyone to buy ubt and they loose locked tokens that will be market sold. or why do you think we’re still this low with all these partners and shit. if this was a project with good tokenomics we would be at 1b mcap or higher. gay

>> No.22419991

meanwhile tron, defi ponzis and shit like that gain more market cap in a day than this has combined. lmao my future is unibright, should have sold when i first heard this. or worse, ubt is VIP.
you guys know this dan retard admin ? hilarious

>> No.22420024

>>22419945
tokenomics aside, the comments from the team regarding the situation above seemed highly unprofessional to me.

chainlink is still upholding the standards.

>> No.22420251

Unfortunate, but wont matter in the end. Waiting to buy the dip.

>> No.22420428

Retard admin Dan here, I am a top 20 holder. Fuck you all, $10 end of 2021, and I will have over $10m


You guys can cry about this and that, but reality is I have already made it. I am not a poorfag and I know how to make money so screw you all, sell now, and rich bitch like me will just buy your dumps. This is basically free money.

I have many coins, and many many ethereums, you are literally clueless! Ubt is the one worth spending time on, not any other shit.

Token model is perfect for making us rich. And yeah this is a retarded thing to happen but "professional custodial solution" don't be a retard, do some research and open your eyes. It is basically painted on the wall what is coming.

>> No.22420468
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22420468

>> No.22420567

Wait. Dont leave us hanging. What were his concerns?

MY LIFE IS LITERALLY HANGING IN THE BALANCE!!!!!!

>> No.22420783

>>22420428
nice bait, dan would be too retarded to type this. he is basically a badly programmed pajeet bot that’s spins everything bullish even if it makes no sense

>> No.22420939

Bu bu buh the moderater man was mean to me : (((

>> No.22421158

token not needed

>> No.22421208

You know whats not needed?

>> No.22421232

>>22421208
niggers. think about it. and dan, who is a retard

>> No.22421237

Ligma

>> No.22421285

I feel like dan boned your mom or something. U k fren?