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The ABC team splits off of BCH, what is to happen?

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Written by   301
2 months ago (Last updated: 1 month ago)

The coin that ABC is going to try getting mined in November is really quite a lot like the Initial Coin Offerings (ICO) of a couple of years ago.

Take a look:

There is a group with a shady whitepaper (aka global network council), trying to get anonymous people to pay them for tokens. Mostly by unsuspecting miners, but no doubt via other methods as well.

Similar to the ICOs all the money goes to one man or team, based on hot air and grand ideas. People paying don't get a contract they can claim money back on, they instead get a token that is valued at market.

It is quite likely that the coin will get some mining power behind it, much like there were 1000s of funded ICOs. People love gambling on the next get-rich-quick scheme.

The coin will likely be short lived as people wise up and see the market move. Lots will sell and then stop mining. A lot of people will be left holding bags as the price goes down.

Like in ICOs the IFP scheme of printing money for ABC will breaks laws, or requires getting licenses in various countries (like the US). While the chance is small that this chain will live long enough for policymakers to care, it may just be shut down by various governments in the case it does.

Very much like all the ICOs, the ABC team will not actually produce what they promised and likely will just disappear. Moving the mouse once every now and then to appear to still be online. We have been seeing this already in the last months.

What do you think?

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Comments

Sechet and others made quite a compelling argument for supporting a single team: the maintainers have to be able to respond fast to any problem and know the code well enough to fix it and make all the updates for security and performance.

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2 months ago

Is a single point of failure a compelling argument?

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1 month ago

I think we should all avoid tokens that could be high risk. I invested at pyro but only a dollar or something. We should take note that high risk token or sites promises high profits but we are not sure until when.

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2 months ago

Nice article... thanks for sharing article.... very important point

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2 months ago

At the end of ABC has nothing to offer stop doing their job a while ago. He has no future.

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2 months ago

very interesting article

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2 months ago

ang ganda p sna marami pang ganito pra naman marami pang mkabasa o bbsahin.. po namin marami² din kasi kami ee

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2 months ago

Nice

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2 months ago

Yes to ABC

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2 months ago

I also think Abc IS NOT COMFORTABLE IN FUTURE..

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2 months ago

RIP ABC! ABC has no new and good things to contribute to cryptoecosystem.

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2 months ago

Let's just watch and see what they have to offer They might be awesome this time

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2 months ago

This Is Really very Helpfull and Important article...thanq to sharing such information with us 🥰🥰 ❤️

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2 months ago

Hope this IFP Brought changes

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2 months ago

Honesty is the best policy

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2 months ago

Sir I love my country and love my photography so your photos very very nice

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2 months ago

I think we dont need abc

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2 months ago

Thanks

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2 months ago

Well I guess the ABC is not doing their job right.

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2 months ago

I think you are definitely right. ABC should not try something they will regret later in future. They are beginning to become a trouble

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2 months ago

Nobody will be surprised if they do nothing or exit scam. ABC is a parasite now.

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2 months ago

People are more mature now than before so such scams has little probability

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2 months ago

I should carry out my analysis and findings about the coin

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2 months ago

BSV and BTG are is still alive ..

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1 month ago

Godbless sir stay safe

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2 months ago

I completely agree. I have zero, as in ZERO, trust left for ABC. They have burned so many bridges, and I have noticed that they (or rather mostly Amaury) does not shy away from shitting on BCH (and other BCH actors) in public every time things do not go the way he wants. Not exactly professional, also not exactly something that instills confidence in them having proper skin in the game or even care about the investors/holders/users.

If there is an ABC coin and there is no replay protection done from their side, I will dump it like the shitcoin it is, as soon as it can be split and traded.

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1 month ago

I think I will do some speculation with the new coin ... and then sell it.

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1 month ago

Brother, Do you please let me know how you get so many sponsor??? Help me brother i need some :'(

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2 months ago

Thanks for this information

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2 months ago

thank you sooooooooooooooooo much for this post

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2 months ago

Does this issue affect worldwide economy?

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2 months ago

As the days go by, new currencies will be discovered. Money transactions will become more widespread. In the developed world, this process continues unabated, and changes are taking place. But there is not much circulation of these currencies in Bangladesh. Backwards. We are absolutely inexperienced about this.by your post,we know about this matter

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2 months ago

Great written

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User's avatar Din
2 months ago

It seems they are planning something obscure and their insistence in the IFP of course no good things will come from that, like new ICO's they could surely dump it and exit scam and with that taking lots of cash with them!

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2 months ago

The IFP coin that ABC is going to try create in November is really quite a lot like the Initial Coin Offerings (ICO) of a couple

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2 months ago

BCH is advertised as most decentralized and then the most centralized system, IFP, happens and the whole bunch of people are this oblivious?

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2 months ago

Nice news about ABC coin

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2 months ago

Subscribed me

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2 months ago

Wow that's really

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2 months ago

Thanks Sir for translated in bengali.

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2 months ago

ABC should be gone for good. We don't need them. We can build tlthe community with the new IFP

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2 months ago

Honestly,, I'm still trying to comprehend this though but I think is making sense.

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2 months ago

This is really helpful article

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2 months ago

Sir please can I translate it to Chinese or Bangali?

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2 months ago