/biz/ - Business & Finance

>>30325157
Bogchard Bogwasser.

>>30325157
Just unironically bought lol.
Been waiting for the "death-blow" dip for a while now. Clearly people weren't content at buying at 4 cents.
See you after the easy 4x, anons.

>>30325157
Waiting for the inevitable dip into the low .00X's and possibly the .000X's

Lition was a dump & dump scheme.

>mistakenly bought lition when I thought it might be a good play
>clearly not the case
>learned to live without
>all these faggots saying "see you at .001 when I'll buy a lot"

Unironically why would you fucking buy any lmao

>Hitting an all time low in the midst of a bullrun

bruh...look at these dudes..

>>30325157
HAAHAHAHAHAHAHAHAAHAAHAHAAH
>there are people on this board, right now who never sold this

>coinbureau JUST shilled to his audience
oh no no no

>>30328411
Maybe he meant litentry

>>30328398
No point in selling because of gas fees, just riding it out. Maybe it does a retard pump at some point for some inexplicable reason.

>>30328438
oh yeah it was litentry not litoin im retarded

>>30325157
I think 80% of lition traders made a loss on it, probably more. The team dumping was relentless through its entire existence.

https://forum.tomochain.com/t/unstaking-enabled-for-all-lps-stakers/1243

>>30329609
I feel for this guy but at the same time what did TOMO or Richard actually do wrong? Richard autistically thought “small coin acquired by big coin” would be perceived as good and TOMO really did do their best to update people, talk to the community in the telegram, etc.
I lost money on this btw, not as much as some anons but nothing above should be read as a pure defense.

>>30330294
>what did he do wrong

Probably dumping coins on people and pretending he wasn't, that's unironically a scam.

Just went full autist and did my own research on the project before I aped in again. It looked very promising at first but there are a few key important things that have made me doubt this project finally, and they're minimally related to just Richard, though that is somewhat of an off-putting thing.
1) The github is incredibly inactive. Much less active than even the Kleros github, which is pretty active tbf. Still though, just goes to show how dead LIT dev is
2) Tomochain clearly is not attentive to the needs of LIT customers, which lends credibility to the concept that Tomochain merely assimilated Lition for money and does not necessarily care about it.
3) I'm pretty sure my staked LIT was assimilated back into LIT custody because it doesn't show up on the site. Very sketchy. No warning on this either in the FAQ. My staking history still shows up, too.
4) Node operators are starting to sell their LIT too
5) To an extent, public opinion does matter, and LIT has a terrible reputation all-around. It does not seem ill-placed or temporary either. It seems like it's probably going to stay for the foreseeable future.
6) Price is not bottoming out, it's just slowly bleeding, although volume is starting to collapse, which could be bullish. Either way, the downtrend is confirmed for now and I'll take my money elsewhere.
In essence, while the concept for the blockchain was pretty cool, taking a deeper look into even something as obvious as the whitepaper reveals that the planning for the project was actually quite basic, so much so that it seemed like they were hardly prepared for the implications a fully implemented blockchain enterprise like this would entail. The groundwork was there, but they acted as though they were going to be the first to implement this tech, when in reality it had already been done before and better.
Should have just used chainlink, lol.
I don't regret buying this, this was definitely a learning experience. Maybe next bullrun, LIT, idfk.

>>30329609
>Investing in a shitty L2 solution built on Ethereum.

90% of these projects fizzle out and result on developers exit scamming on investors. Don't buy these shitty coins.

The same's going to happen to something like LTO. The developers/owners are so fucking incompetent. When things start stagnating or not going their way watch people like Rick dump on everyone and say he had to leave due to personal reasons/mental health or a contrived internal rift with other developers.

You have to always bear in mind that many developers of these projects deep down think they will be the next CH, CZ, Sir Gay, etc, who cashes out hundreds of millions from their project. When their project inevitably sucks and isn't going anywhere, they get demoralised and want to move on to something else.

>>30329609
this has been an utter disaster for me, i went in deep (not all in thank god) and recommended it to friends and family.
Really thought that as soon as the transactions were going to come online we were going to the moon.

>>30332222
Quads of truth. Same situation here, man. I got thoroughly fucked.

>>30330294
Richard the scam artist made his investors believe that the Lition Blockchain project was an actual business, but it was just a virtual letterbox company. The millions of dollars that he fraudulently collected were almost entirely diverted into his private pockets and his energy company. The Lition spaghetti code was put together by some cheap outsourced devs/students in part-time.

>>30332222
can i get a qrd of what happened?

Also, recommending crypto to family/friends - ishygddt. If they ask or find out you're into cryto tell them you got lucky and they're probably too late to buy anything. There's absolutely no way i'm telling someone I know to buy a particular coin. Chances are, if they're asking you they're going to FOMO buy something anyways. Its best to leave it up to them.

>>30332680
Yeah i told them to not go to deep.

QRD.
Richard sold Lition to TOMO claiming that tomo has the manpower needed to bring bigger usecases to lition than just lition energy and docmosis.
The community raised the issue of litsentbymistake which was an exploit in the staking contract used to unlock a whole lot of lit that subsequently got dumped on the market back when Lition was under Richards control.
Community members started to threathen lawsuits, Tomo went full silent for months stating they needed more time to get familiar and to debug some things.
Now everything is under audit and Tomo CEO started saying things like
>code sucks
>Tomo doesnt own anything proprietary so doesnt own Lition
>if you want something to happen do it yourself
>90% of projects fail
>we'll talk results of audit next week
Big yikes.

>>30331127
You forgot that you unironically should never trust Germans. We had some Germanons telling us to never invest in a German project but none of us listened.
>>30331380
>Investing in a shitty L2 solution built on Ethereum.
Rubic is pretty good and the team has already proved its competence on mywish.
>>30332222
Yeah this really fucked me up. I've been making a lot of bad decisions since last year.
>>30332581
>The Lition spaghetti code was put together by some cheap outsourced devs/students in part-time.
The two outsourced student devs should've been a redflag but we all just coped.

Where to request refund?

>>30325157
Got 12000 of these shits luckily got lots of fanties. Ive seen fantom bounce back from nearly dead project with potential to revolutionary tech. I might buy some more shitions just in case a new team takes over

>>30325157
Also the way tomo handled the AMA clearly shows they have no idea what they are doing and are backpedaling and censoring people offering critique and guidance

>>30332581
>crypto will hit a 10 trillion dollar mcap in the next year and a half
>richard could have gotten a lot more by not being a scammy nigger but now no one will trust him while the lightspeed cruiser to alpha centauri leaves without him

>>30325949
retard. Welcome to the JUSTED squad.

>>30325157
WASSA WASSA WASSA...

LITCONEEEEEECT!

Richard created this elaborate scam to fund his energy company, then realizing that he could get screwed legally by rug pulling.. since he wasn't anon and had deep pockets and a company behind it.. he tricked tomo into taking on the project and absorbing the legal liability. Richard was allowed to keep his ico money, his team exited at the top by being allowed to exit stake early.. then tomo realized its a pile of shit and had to abandon the project.

>>30336798
They havent officially abandoned it though. The audit about the full situation will come out end of next week and I feel Richtard will play a role in it.

How much did you guys get rekt on this scam? Did anyone unironically go all in on this shit? I was here in summer 2019 when it started being heavily shilled, I probably bought in earlier than most of you guys and shortly after the outsourcing fud surfaced on /biz/ and that's when I sold all my shit and never looked back. I was so close to bagholding this shjit from ATH but I cut losses quickly thank fuck, lost about 1-2k at that time.

>>30336998
I bought $2000 worth when it was $0.30. I've just held since then like a dumbass. Thankfully it was just one of several investments for me. I've done very well on LINK so that helps me cope.

>>30336993
Doubtful, I cant believe Richard actually shows his face in the telegram still. Tomo was basically hinting to investors that this is a dead project.. even offered to give it to the community if there was a demand?? Lol

I sincerely hope the lition chink who came here the other day offering 300 LIT to everyone who replies to his shitty little gay chink thread killed himself already. Fucking spineless mongo, he did not send shit and death is a proper punishment for being a weasel

>>30337355
I am trapped by the staking scam. Coins locked while richard and crew pulled their stakes out. Tomos coins unlock in April when they will dump to regain what they can.. if there is any liquidity left in uniswap by then lol

>>30337355
Between this piece of shit and VIDT I lost $3k ~an extra 1k LINK which would have been 30k right now lol

I thought i was smart to grab a small bag at 0.03 oh god lol

>>30337445
I was also stuck staking. When I had a chance to sell, things were looking promising so I locked in again LOL. Then the news came about selling Lition to TOMO.

>>30337456
I bought VIDT too. I made about a 3x on it. Totally forgot about that project

>>30337445
You can unstake early now. I just did earlier today and sold at a 75% loss kek.

>>30328261
Hope you can afford your tranny operation one day anon.

Can you feel it?
The board... it's shifting...

>>30337577
How is the gas even worth it?

>>30337663
I had around $2000 worth in staking and only had to pay $80 in gas. Better than waiting until it goes to zero.

jews were right
never trust a kraut

>>30337577
>>30337663
There's no point in me unstaking early. The gas fees are about as much worth as my stack.

>>30337730
Thanks, looks like I can recoup $200 of my original 2500 or whatever i put in this scam

Hey there guys.

Can you check out Mochimo?

I have seen it posted all over but I need to know can I get in now?

NI HAO CHINA MAN

Not selling

>>30330294

tomo got fucked by richard and bought lition without due diligence. Absolutely pathetic behaviour and then they tried to stall out as long as possible (6 MONTHS) before now admitting it is shit and letting people unstake.
They even fucked up the unstaking announcement (was not even possible until 1 day after announcing it and they sold lition to pay for the unstaking fees BEFORE anybody could unstake and sell).

> did nothing wrong

richard keeps claiming that everything is working great and has already hinted that lition energy now might not use lition block after all ("needs to reconsider").
selling lition block WHILE they were still actively holding people's Lit in the staking pools and not letting people unstake is only the tip of the iceberg of shitty things richard has done.
Remember binance bridge? Remember selling OTC via _litsentbymistake? I could go on and on.

> did nothing wrong


Former trust node btw. absolutely heartbroken that this failed. now I need daily copium and hopium infusions to stay alive.

Someone should pop his kneecaps. IRL.

>>30338968
Ngmi

FUCK ADAM SALAM

Lol I just unstaked and it didn't give me the full amount.. stripped all the staking rewards out.i think the contract is broken. Fucking scam. Or richard kept the rewards

>>30339205
lmao, I think I got some of your LIT because I had 200 extra LIT I didn't originally have, even after staking rewards lol.

>>30325157

give me one reason why you didnt listen to me anons

>>30339592
this was disputed

>>30331127
>I don't regret buying this, this was definitely a learning experience.
I'll be honest with you, I was in some of the threads before the rugpull, and it did seem like a legit project
I obviously didn't buy, but it had even me tricked, and I'd consider myself a ""professional coin researcher""
Some anons even agreed with me when I stated some of the concerns I had with the project

>>30339592
Wow killing redditors?

Based.

>>30339780

The project and idea seemed legit. The only telling thing was Richard himself. If you have a knack for people, he is one of those that give you a weird vibe that something isn't quite right. I had it, didn't trust it, and lost 10k to him which would have been around 200k in todays marked if I had kept my ETH.

>>30325338
RUGTARD KLOWASSER

>>30336998
I went all in at 11 cents, sold half my stack day before the tomochain ama when it was like 10 cents and the other half literally during the ama when it was still holding at 8-9 cents

>>30340040
yeah that, and the project itself not succeeding with adoption, I used to post that a lot and saw it as a big enough risk not to invest, and like I said, some anons agreed which shows that it wasn't just retards investing
one other gripe is the fact that it was a low mcap coin for so long dispite constant shilling, I would say that also was a red flag.

I also used to compare it to prq a lot, it was also a low mcap, but as soon as it got shilled here a bit more it shot up.. unlike lit.
went from 0.01 to 0.10

>>30340383
Out of curiosity what do you think about rubic?

>>30339780
Yeah it was all quite legit. I think it's not even that it wasn't legit, I mean the project had some promise for sure, and I'm sure it probably won't be completely discarded by Tomo. I think it's just that Richard lost inspiration, and when he quit, it simply sucked the energy out of the speculators, esp the early investors. Not to mention that Richard prefaced the Tomochain announcement with hints that it was going to be something huge. That combo was a killing blow.
Price could still pump, though.
I wonder what will happen first, then. LIT pumping or gas prices going down enough to justify me taking my 80 dollars of LIT back, lol.

>>30340530
scam

>>30340545
Why?

>>30340655

>>30340880
kek. they fucked up the limit orders they released yesterday too. idk might sell soon

>>30341006
I don't know what is going on in the mind of retards, rbc is a useless coin for a useless product
yet, it has almost the same mcap as kda https://coinmarketcap.com/currencies/kadena/
one of the more promising eth competitors (not really competitors since they focus on enterprise)
this is peak clown market

not trying to shill, but they have scalable PoW with 480k Tps made by people that worked at JP morgan and are going to release their own version of uniswap soon, it's in beta https://kadenaswap.chainweb.com/swap
also is advised by Stuart Haber, the co-inventor of blockchain and the most cited author in Satoshi Nakamotos 2008 Bitcoin white paper.

and both have same sized mcaps, fucking hilarious
again, not trying to shill, I hold 0 kda, just giving one example out of many

>>30341276
what coins do you recommend?

>>30341328
https://coinmarketcap.com/watchlist/601a1313b190f71e7e605029

>>30341356
thanks anon ill keep an eye on them

I wanna know Juergen got involved in this shitshow, is he just a buddy of Richard? He still has Lition listed on his Linkedin page lmao, might wanna take that off

>>30340542
The minimum stake was 5k lit.. thats currently $75, gas to unstake right now is $35 i just did 4 of them. That leaves $20 after uniswap gas lol. Last chance, you could at least have pizza money