Buyers Beware! BitQyck is a good example of how a trustless framework can be abused.

in cryptocurrency •  8 years ago  (edited)


http://www.bitqyck.me/

Not sure where to start, other than disgust, although it is based on my personal feeling after enduring an hour of a multi-level marketing pitch on a blockchain that claims to be public, but does not have publicly available documentation or source on the blockchain, no publicly available way or tool to audit the blockchain transactions, no public nodes, no information on the key mechanisms of consensus, block management, and rules, and no open exchanges other than their own private exchange with enrollment rules to, of course, manage price volatility for their merchant customers. This is an example of how abuse of those that are not technical enough but are sold on the idea of catching the next bitcoin makes me sick. I need to start a local meetup just to answer questions on how to safely invest on a blockchain. Sorry, just have to got get this out of my system before I literally throw up on myself. It's especially sad to see seniors in the room asking about whom to make checks out for, they could be plants, but that makes it sicker.

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