@CryptoSorted
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Either SmartBCH is DEAD or it's being run by the worst jerks ever... 🤦
@CryptoSorted
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@CryptoSorted
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23 comments
I managed to get out but with around 35% haircut due to flexUSD and halt of Coinflex bridge. That's just my token assets, not including some NFTs I still got in there.
It's a very strong contender for the Lamest Project of 2022 Award...
You're lucky with 35%. I lost more than around 3/4
Sad. It's crazy how it all went to shit like a house of cards that it was...
Similarly for me about 2/3. But I hope that at some point I will be able to withdraw my funds in the ratio 1LBCH : 1BCH.
What's LBCH?
CoinFLEX has 10% of funds e.g. BCH allowed to withdraw. The rest was converted into LBCH. As far as I know, you can exchange it for real BCH, but at a bad rate. I haven't done it. I don't think anyone is doing it, or it doesn't work yet. https://coinflex.com/markets/LBCH-BCH Similar with LUSD. CoinFLEX is in the process of taking legal action to recover the funds owed. Maybe then the LBCH and LUSD price will go up. But I don't have LUSD, only LBCH. CoinFLEX gave me some tokens, but I don't know what they are. Haven't been interested in it yet.
Interesting... I have zero faith in CoinFlex. I'm happy I have nothing to do with them anymore. It's one thing to make a "mistake" and it's another to continue to lie and manipulate people with useless narratives and runarounds.
I don't think anyone trusts CoinFLEX any more. I am only left with hope. Otherwise, my funds are gone. A painful lesson. Before CoinFLEX, I only used sideshift.ai. It is also centralised but the money is instantly exchanged and in my wallet. But sideshift.ai did not support sBCH as far as I know.
Good luck man. I hope you are you recover all or at least a good amount of your stucked funds there. We keep hope alive.
Thanx
Thanks, I couldn't wait any longer. And tbh I have little to no hope they'll give 1:1 ratio. Unless it's 2025 and bull market brings crazy money in
If it's 2025 and the bull market brings crazy money, then they have to give me as much BCH as they do today. Nothing changes.
Have you converted LBCH to BCH?
Yes. I Think it was last month. I did it at 0.2 / 1 ratio. Just to get heck out of that platform
Thank you. I will wait. I don't need the BCH now.
I really wish all depositors would get their deposits fully reimbursed.
that's 20%... crazy. hopefully, you can recover the loss in the next bull run.
Yeah man. I was sleeping when everything went down. Woke up and checked fUSD trading at 0.70 something. Till I was able to pull out it had fallen to the 0.60s Lost also some BCH when bcBCH - SBCH ratio wasn't 1:1 cause I didn't wanna risk waiting We all got screwed. Sorry for your losses as well. I'm angry with the SBCH team. We took the Coinflex centralized counterparty risk because both CF and SBCH team (Kui) reassured that the bridged BCH were held in separate accounts than other CF assets. 1 year later still no decentralized bridge in sight.
It is probably not dead, but as long as there is no SHA bridge, there is no good chance for SmartBCH to develop.
The SHA bridge seems to be just a front. There's no team. You can't create a whole chain that people are spending time and money building on and just go incommunicado. Kui and his bunch of nerds are either scammers or totally clueless jerks and pussies (Yes, I am angry with them for wasting everyone's time).
I think the bridge will come. Whether that will save SmartBCH remains to be seen. At the moment, the loss of confidence is enormous. And without trust, nothing works.
Yeah. I hope the bridge comes and the 1:1 BCH backing is restored. Then, people might be willing to continue building on SmartBCH. 1. Bridge 2. 1:1 BCH backing restored 3. Team that's visibly working to move the chain forward