//Populous – the top 30 (still) scamcoin

Populous – the top 30 (still) scamcoin

If anybody here has been following Populous, the idea behind it (blockchain based invoice financing system) is great, but there have been red flags after red flags after red flags with nearly every aspect of the project. After following it closely, I’ve decided that it’s a best, a definitely doomed project and at worst (likely the case), a scam. A close friend has been holding it for a while now, and I’ve been telling him to get out for nearly as long. While some people might think, “ehhhhh, we’ll give ’em the benefit of the doubt”, in the world of crypto things need to be clean. Little red flags are forecast the big issues like Bitgrail’s recent ‘hack’ and insolvency. There’s even a subreddit dedicated to collecting all the questionable facts on Populous – how many other top 30 coins have something similar?I would highly suggest anyone holding PPT to have a loot at this sub. A brief overview of whats utterly, utterly wrong: The founder was convicted of fraud. Have a read of the proceedings and proof in this post.Steve Nico Williams (or as he first changed his name to Darren Stephen Williams, or maybe his birth name Stephen Adeyemi) actively lied about his conviction even when presented with proof. He has since backpedaled and deleted his previous comments. Proof can be found here’Nico’ and his brother have cofounded/invested in/used to scam/been involved in around 7 different shady as shit dissolved businesses. Proof and more in depth explanations here (A really good read with lots of external links to further proof!)The promised beta was released months late, and was only a static website copy with no back-end (nothing actually working, pretty much just pictures). Further betas with actual functionality have been promised with consistently no results since then. What have they been doing in the office all this time?Oh yeah…Their office was not in use and empty for months at a timeEvery possible connection to the public is private and monitored. Their Slack is invite only, they don’t have an official telegram chat. They never tell investors what’s happening outside of a few tweets. There is so much more that you’ll find in threads I’ve linked above. These aren’t just speculations, they’re facts.It is completely beyond me how these guys are still in the top 30 by marketcap. Oh yeah, now apparently they’ve introduced physical gold into the system. I guess in an attempt to make everything seem more trustworthy? No clue. Everyday I wake up and see these guys at spot 30 and just think goddamn, a lot of people are going to get hurt really badly.

If anybody here has been following Populous, the idea behind it (blockchain based invoice financing system) is great, but there have been red flags after red flags after red flags with nearly every aspect of the project. After following it closely, I've decided that it's a best, a definitely doomed project and at worst (likely the case), a scam. A close friend has been holding it for a while now, and I've been telling him to get out for nearly as long. While some people might think, "ehhhhh, we'll give 'em the benefit of the doubt", in the world of crypto things need to be clean. Little red flags are forecast the big issues like Bitgrail's recent 'hack' and insolvency.

 

There's even a subreddit dedicated to collecting all the questionable facts on Populous – how many other top 30 coins have something similar?

I would highly suggest anyone holding PPT to have a loot at this sub.

 

A brief overview of whats utterly, utterly wrong:

 

  • The founder was convicted of fraud. Have a read of the proceedings and proof in this post.

  • Steve Nico Williams (or as he first changed his name to Darren Stephen Williams, or maybe his birth name Stephen Adeyemi) actively lied about his conviction even when presented with proof. He has since backpedaled and deleted his previous comments. Proof can be found here

  • 'Nico' and his brother have cofounded/invested in/used to scam/been involved in around 7 different shady as shit dissolved businesses. Proof and more in depth explanations here (A really good read with lots of external links to further proof!)

  • The promised beta was released months late, and was only a static website copy with no back-end (nothing actually working, pretty much just pictures). Further betas with actual functionality have been promised with consistently no results since then. What have they been doing in the office all this time?

Oh yeah…

  • Their office was not in use and empty for months at a time

  • Every possible connection to the public is private and monitored. Their Slack is invite only, they don't have an official telegram chat. They never tell investors what's happening outside of a few tweets.

 

There is so much more that you'll find in threads I've linked above. These aren't just speculations, they're facts.

It is completely beyond me how these guys are still in the top 30 by marketcap. Oh yeah, now apparently they've introduced physical gold into the system. I guess in an attempt to make everything seem more trustworthy? No clue. Everyday I wake up and see these guys at spot 30 and just think goddamn, a lot of people are going to get hurt really badly.

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