Whelo79 wrote: » There is a lot of statements wrong with your post, which to me suggests you haven't even read the white paper. I suggest you go do that first. Merry Christmas everyone.
Dnxncofiruwvx wrote: » Of course I haven’t read the white paper, I’ve better things to do
Whelo79 wrote: » Another fault of the average know all crypto investor. You want me to take the time to explain everything to you, when you haven't even done the basic minimum of reading the white paper because you 'have better things to do'. Go figure!
Dnxncofiruwvx wrote: » Im not going to read the white paper because I’ve no intention of investing in this, from the outside looking in it looks a mess. Once (if) we get a reversal and clearer idea of the value proposition maybe I’ll change my mind, but at the moment it looks like a dumpster fire, and no one has been able to explain to me yet why it isn’t. I never said I was a know all, that’s why I’m asking some basic questions about the project, tokenomics, price etc, and I’m being met with a mix of hopium, hostility, and quite frankly delusion (the price will 100x-400x for example). Like I say, best of luck with it, and don’t get married to your bags. Get out early and hopefully you’ll make some bank on it.
Whelo79 wrote: » Reading the white paper would have taken you less time than it has taken for your several posts on here, and it also would have served to answer some of the basic questions and misconceptions you have on the project. It seems like you are more interested in throwing around generalised trolling terms such as hopium, dumpster fire, dog**** and follow that up with accusations of YOU being the one met with hostility and how nobody is answering YOUR questions. Unlike other more patient posters on this forum I have neither the desire or time to entertain you. If you would like to find more information on the project and get your pertinent questions answered feel free to join the Axion discord where I am sure there will be many people willing to provide you with the details you seek. Welcome to the forum.
Dnxncofiruwvx wrote: » Judging by your reply the Axion community is just as toxic as the project! I’ve asked a few basic questions that any committed community member should be able to answer (My main bags are ETH, VET, ZIL and SNX, and I’d be happy to answer any questions you have on them). Questioning a project doesn’t automatically equal FUD or trolling, I don’t even think I was spreading FUD, just asking a few questions really. You might make some money out of this, but chances are you’ll lose bank on it, and judging by the price action I’d be willing to bet you’ve lost your b0llocks on it already! Best of luck big man, you’ll need it. Again I hope you make it out ok, take out your stake early and then scale out as the price rises.
Whelo79 wrote: » You just have to look back through this thread to see how much help I have given to people, and there is absolutely zero responsibility on any investor in any project to help other inquisitive persons, especially not ones with less than impressive attitudes. I most certainly don't have time nor desire to help people like yourself, who come in with clear negative overtures, and I am definitely not here to justify my investments or convince anyone else to invest in this project. Like I said, go visit the axion discord if you want your questions asked. There are a plethora of community members and mods there who will be more than happy to help you out. Reading back through your posts is quite embarrassing to be honest. Entirely negative, not of the style expected by someone who is genuinely looking to enquire on a project as opposed to just bashing it, full of assumptions, misconceptions, errors, untruths/lies, with a little dash of clear trolling behaviour. I'd guess you were a teenager except for there is a level of knowledge evident when it's not overshadowed by the poor attitude. Somewhere like 4Chan might be suited to your style. As I said, head to discord if you genuinely wish to receive answers on the project, I won't be engaging with you further.
Pdoghue wrote: » Whelo79 I'd be interested to see your response to Dnxncofiruwvx's detailed post above.
Dnxncofiruwvx wrote: » First, I never realised the close links between Axion and Hex. It looks like Axion is little more than a few steps removed from Hex which is a known scam, where the founder basically took all the ETH deposited by investors. So close in fact the whitepaper goes to great lengths to try and distance itself from it (page 9). First red flag.
Dnxncofiruwvx wrote: » Second - Axion calls itself ‘A better version of Bitcoin’ (page 3), and then goes and gets itself a Day One hack within 2 hours of launch, collapsing the price by 100% (Something that hasn’t happened Bitcoin in 11 years). Awkward. Second red flag.
Dnxncofiruwvx wrote: » Third - Prides itself on being an alternative to a ‘traditional monetary policy where mass inflation is used primarily to fund corporate bailouts’ (page 3). Nice marketing - however, Axion inflation is set to 8% (page 4)!!! A quick Google shows US inflation is currently running around 1.17%. So the solution to rampant dollar inflation is to create a token which sets inflation at 7 times the current rate? Right, ok. Third red flag.
Dnxncofiruwvx wrote: » Fourth - How do you turn an 8% inflation rate into a staking return of 80% to investors? How does that work? I’ve read the whitepaper, read the website, read medium articles, nowhere does it clear this disparity up. I know not everyone is staking so it increases the staking pool for the people who do, but even still the disparity is just too much in my opinion. Fourth red flag.
Dnxncofiruwvx wrote: » Fifth - This the main issue for me, and should be a real concern for any current or potential investor -There is no point to the token, other than to generate returns from staking. With enterprise blockchains (ETH, ZIL, ADA, etc.) you stake tokens to secure the network, and then projects are allowed to be built on top of the protocol, and tokens are used to support this. With crypto banks (Celsius, Nexo, etc.), you deposit coins into the crypto bank, and the bank then lends it out to investors, returning most of the interest to depositors in a process known as Rehypothecation. Axion does none of this - in a cyclical move it takes new deposits and hands them over to earlier investors and developers. There’s no other point to the project or utility to the token. I don’t know what that’s called where you’re from, where I’m from that’s known as a Ponzi scheme. Fifth red flag.
Whelo79 wrote: » The only real backing of the USD is faith in the government. The amount of interested owed on US debt will exceed the entire GDP of the US in the next decade. The collapse of the USD is inevitable, $9 Trillion dollars (22% of all USD in circulation) were printed in 2020. And there is more to come when they print the next round of stimulus cheques!
Dohnjoe wrote: » Sorry, just to pick up on this point because I see it a lot on crypto forums, the highlighted is a bit incorrect. The amount of USD put into circulation due to the pandemic will probably decrease value of the USD around 1% to 2%, and that's before taking other factors in account, which could decrease that further. The dollar is not "just about to collapse" or anywhere near that, this is simply a recycled trope that has been put out for decades. It's a flexible currency, and even through wars, financial crises, and now a pandemic, it's function and underlaying value is not under any considerable "threat". As for US nat. debt amount, it's not like personal debt that "has to be paid off", it's national debt, which the US has no problem servicing.
Whelo79 wrote: » Lots of people (outside of crypto forums) would disagree with you.
Dohnjoe wrote: » I work in the industry, literally with financial analysts, there is little or nothing to worry about in terms of key currencies. Keep in mind, stuff like AXN and most cryptos don't compete with currencies, they compete with other speculative assets (like equities, bonds, gold, etc)
Whelo79 wrote: » I have a month long stake expiring today that has earned just over 5% interest over the month. 1.3m AXN in total interest, which at the current value is about $390. That would be lovely additional passive income to have rolling in each month. Triple that monthly stake and you are roughly earning enough to meet the monthly payments for a €270k mortgage.
joe250 wrote: » You must be staking 20 million AXN to get that kind of interest.
Whelo79 wrote: » That's not too far off what I had in that monthly stake.
snowstreams wrote: » The current gas fees has caused me to sell any left over liquid axion I had. It wasnt worth re-staking since it was just a small amount. Has anyone here experimented with using Gas tokens to reduce the gas fees like Chi Gas? This video explains the idea, you have to buy a gas token for around 1 dollar but it seems to cut your gas fees in half. I didnt search the discord but they might have suggested this there already.
