SmartBCH in trouble? writer's block?

I'm actually not suffering from writer's block right now but I seem not to be able to make up my mind on what to write on right now coz I have a couple of them in mind, but I will just write the one that is pressing at the moment

I didn't publish an article yesterday and that's because I was too tired to write one and I slept off very early (around 9pm 😩). I wanted to write this yesterday but I dozed off, so I guess I will just go ahead with my plans.

For some days now I have been hearing numerous reports of rug-pulls going on in the SmartBCH ecosystem. The first I heard was $EROS and $ARGON which happyboy was lucky enough to escape being roped in as one of the masterminds.

Happyboy went further to write an article about it and that's when I learned about the previous rug-pulls that have happened, but I guess $ARGON made a bigger impact (you can read his article here

Then I heard about the next rug-pull yesterday. I posted something on noisecash yesterday morning and Jane commented on it but at first, I didn't fully understand what she meant.

From Happyboy's reply, I realized what Jane meant; Beachswap has pulled the rug! Later on, I got to read about it on Jane's post and I found out Beachswap made away with over 250 BCH! That is people's investment that ended up in the hands of the wrong persons.

While everyone was still trying to recover from the storm brought in by Beachswap, I saw a message from Happyboy in the Nigeria BCH telegram group saying that $MILK is about to pull the rug.

I replied that all these scams that are going on will bring FUD to everyone and there's going to be panic-withdrawal of most tokens. It later turned out that muesliswap isn't pulling the rug but it's $MILK that is going down.

Today in school, @Methion asked me if I have seen BCH price that morning and I said; "no, what happened?" He said the price is now around $550, I was shocked! I remembered checking the price yesterday and it was around $625.

I quickly rushed and opened my binance app to see what was happening, that's when I noticed the big red candle that represents today and the price was around $558. I guess I was right after all, FUD has caught up with a lot of investors.

What I gathered from the fall of BCH's price is that a lot of people have started withdrawing their tokens from various DEX (muesliswap et al.) and this has led to BCH flooding the market, and we know what happens when there's a high supply and low demand; prices go down.

I don't know if my assertion is correct, but that's the only conclusion I can arrive at. These rug-pulls are seriously affecting BCH and in the long run, I feel the price is still going to drop for a couple of days.

A little detour: actifit

I used the actifit app yesterday and I was able to get to the target which is 5000 steps. I also told some of my friends about it and they got interested and started using it as well.

When I sent it to my friend @giaiom, he discovered something; you can stay at one point and still accumulate steps! He just kept shaking his phone and the steps kept counting.

Like I said in my noisecash post yesterday, this method may look easier than just walking but it defeats the aim of the app.

I may have gotten it all wrong about the actifit app and its token. I actually thought I will be able to exchange or swap the AFIT tokens to another coin and convert to fiat but from what I read on the actifit website, it can only be used to purchase items from their store.

After completing the 5k steps, I thought the token is going to automatically drop in my wallet but after waiting a few hours and it wasn't coming in, I decided I will have to post my progress on hive.

I already had an account on hive so I just logged in and sent my progress report there. I checked my wallet and yet nothing has entered. While writing this article, I decided to check and see if anything has entered and that's when I noticed 22.5 AFITs have been added.

So I guess I will have to post my progress on hive daily for me to earn the tokens. I wanted to ask @farmgirl to write a full article about actifit 🙈 but all questions I had have been answered already.

Conclusion

With the way things are right now, I don't think the scams that have been happening lately aren't going to stop, it will keep happening as long as people are ready to invest.

I think BCHpad is the safest route right now, it will help to reduce the incidence of rug-pulls. Although I have not been a victim of any of the recent scams, I can still feel the pains of the victims coz it happened to me too last year and I lost all my investments.

It will probably be better if the victims stay away from the cryptoverse for now (especially SmartBCH) coz what's going to happen now is that some persons are going to try to recover their losses by investing in other "potential" tokens. That's the same thing I did last year and I kept falling into one scam after the other.

It's better to keep a cool head about what's happening and don't let your emotions rope you into making hasty decisions. Just remember to not make decisions in the heat of the moment, and this also applies to every situation in life.

Thanks for reading

Thursday, October 28, 2021