NEO is way overvalued

NEO will crash after 8th August and this is why

I have heard about ANT/NEO over and over either online or from crypto lovers around me. It gets me excited at first thinking it is the next Ethereum, so I decided to do my own research before committing. Unfortunately, I was disappointed by my findings when NEO, IMHO, couldn't get the basic things right. (FYI on my background, I am a Chinese software engineer)

Here is my findings

1.Wallet(app.antshares.org) is not usable at all! Never finish syncing! I sent some antshares from exchange to my own wallet. I can see it from the antcha.in, but coins didn't appear in my wallet until after almost 2 weeks. Besides, the design sucks! The PC wallet looks like it was built in 1990s.

SECURITY!! The new wallets coming out (neowallet.cn, neowallet.net) are not in https! That means all your interaction with this website can be hacked. Either any hacker can change the actual content of the website, or they can intercept your request in this website, for example, when you are uploading your backuped wallet, they can see it!

Website was broken for more than 2 weeks (last month, at the time when I was doing research). Document links were not working because they didn't "备案“ in China (meaning, they didn't register their document site with chinese government. therefore, nobody can get access it).

In their previous website design (I think they just redesigned the website), they have a section showcasing pictures of the contributors. But if you look closely, they duplicate the contributors' pictures to make it looks like there are a lot of contributors working on it.

Other urls found in this thread:

github.com/neo-project/neo/graphs/contributors,
i.imgur.com/z8G0FjN.png)
github.com/neo-project,
reddit.com/r/NEO/comments/6rq5po/i_try_to_convince_myself_that_neo_is_worth/
bitcointalk.org/index.php?topic=1971717.20)
wanbizu.com/xinbi/201610217639.html,
8btc.com/thread-67102-1-1.html
8btc.com/thread-40974-1-1.html)
twitter.com/AnonBabble

Developers, they really have too few of devs. They had 3 phases of ICO. The most recent one is about a year ago and they got 6129 Bitcoins, that’s about $3,677,400. That’s HUGE, especially when they are in China. A seasoned developer in Shanghai costs about $50k; A top-notch, Google T-6+ level engineer in Shanghai costs about less than $150k. But if you look at their github link: Neo Core: github.com/neo-project/neo/graphs/contributors, only the CTO Eric Zhang is contributing on a constant basis. (image:i.imgur.com/z8G0FjN.png) .I'm not gonna post all the repositories, but if you go through all the projects, github.com/neo-project, DESU, I think it's less active than some scam coin. I'm not saying active means the project is great, but at least it suggests there are people actively working on it. NEO promised a lot, but if nobody works on things, what does that mean?

I have also seen so many comments about how Chinese government support / will support NEO or how chinese only prefer chinese company. First, there is no public news about chinese government supporting NEO and there is no history about chinese government support any type of“民企”(company owned by chinese individuals /investors / stakeholders). Chinese government usually only support “国企“ (company owned by the government, because they are the government’s arms and legs). Secondly, Chinese government might still support digital assets or blockchain in general. But most likely, they won’t be comfortable with a decentralized distributed system. Do you know that Chinese can’t even exchange more than $50k worth of RMB to any foreign currencies? If Chinese government is going to embrace blockchain, it’s likely going to be a centralized system. In fact, the central bank already established THEIR OWN research institute to work on blockchain and digital currency.

Obviously, despite having very few developers, NEO’s marketing oversea is BADASS! There are so many hype and praises and 0 critiques about NEO in English forums while tons of critiques in Chinese forums.

In summary, the only thing that NEO is great at, based on my research, is oversea marketing. It seems like the slogan “NEO is the Chinese Ethereum” is working really well. And maybe due to the language barrier and cultural unfamiliarity, research is just hard . From my perspective, if they can’t get the basics right, why should I trust them with my hard-earned money?

Thanks for posting, user. Makes me feel better about not buying.

Fuck off with this debunked copypasta from Reddit.

reddit.com/r/NEO/comments/6rq5po/i_try_to_convince_myself_that_neo_is_worth/

t. reddit

I bought around $2, kill yourself.

Chinese’s view on Antshare Chinese forum is way less active than neo/reddit. While sentiments in general is mostly positive lately given the price rise, you can still see people doubting ANT. Some are even wondering why the western audiences have so much faith in ANT. Ironically, some chinese said that they bought into ANT because of the hype among western audiences. (see link, maybe you can try google translate? bitcointalk.org/index.php?topic=1971717.20)

If I looked back further, they are a lot more criticism that thinks they are just in for the money or some people who claimed that they know the founding team and don’t believe they are trustworthy or that the price are manipulated heavily by whales. (example: wanbizu.com/xinbi/201610217639.html, 8btc.com/thread-67102-1-1.html , 8btc.com/thread-40974-1-1.html)

If you read the replies it was definitely not "debunked" you retard. They dance around the issues and outright ignore some of his points. The fact is he is 100% CORRECT. NEO may have legs in 2 - 3 years time but RIGHT NOW IT IS WAY OVERPRICED

HERE IS A RESPONSE TO THIS CONCERN

"I just read all your links. Thanks a lot for sharing because there are tons of new information I haven't seen before and I would love you to share more in the future. Seems like generally there are 3 main complaints. Shitty ICO/ conspiracy of them manipulating the market in those early days. The second is that some people have said the tech is bad and it is only copying other countries tech, however, no one has even touched on the technical side other than saying "I heard from other people that the tech is bad". This is hardly proof in my opinion but nonetheless they do raise a VERY valid point that we don't really know if dBTF will actually work when we scale. And thirdly, some people have complained about the wallets too haha. I really don't get why they can't improve the wallet either so we do share this concern."

HAHAHA ANS HOLDERS ARE ABOUT TO GET FUCKING OBLITERATED

Yeah, huge bubble right now. I really tried to understand the hype that is going on, but if you ask someone, why you should invest in Antshares, they don't give you ANYTHING reasonable why this tech is the new shit.

They we're founded in 2014 and DIDN'T DO ANYTHING besides a new website and rebranding lol. They produce FAKE NEWS / FAKE TWEETS and FAKE PARTNERSHIPS.

The funniest thing is, "muh chinese ethereueruerm" - they dont even understand, that the only thing, which led to the explotion of ETHER was the fucking SCAM ICO's because EVERYBODY BOUGHT ETHER and after that EVERY ICO SOLD ETHER.

They are just dumbfags who will get burned really hard.

>b-b-but next ethereum senpai
>kek
>Beijing Automotive Industry NEXT BMW/MERCEDES BUY BUY BUY

Wow someone's really fucking mad they didn't get on the ANS train before it left the station

This is why I put a small position in. My gut feeling tells me this will end very badly and will be a historic moment in crypto.

I am hedging my bets

I bought at 5 dollars idiot. If you think the current price is justifiable with NO PLATFORM, FAILED PROMISES, AND NO PROGRESS FOR 3 YEARS then you are one deluded fuck.

I am basically like this user:

So what is your plan? Sell on the 7/8/9th? When do you expect the crash to occur.

I still think there is some room for this to be pumped a little bit before this crash

its 'le chinese ethereum' tho, guaranteed $100+ right

I am going to hold and see where gullible idiots take this shit over the next year. If it hits 20 I am 100% out. It will crash on the 8th when people realize there are no real updates or progress made.

Why not sell on the 8th and buy the dip?

This is just a pathetic FUD

Dont fall for this crap.

OP have crealy some agenda against NEO

People are definitely delusional and they don't understand China's government. Most likely, China is going to create its own nationalized, centralized coin if it ever wants to use blockchain technology.

Agree op. The marketing is great but I don't see anything special with the tech. It seems like an underdeveloped Chinese Stratis and I don't particularly rate Stratis.

The people claiming this is going to kill Ethereum are children. Just look at the talent pool involved in Ethereum and then look at Neo. It's a ridiculous comparison to make, Neo is years behind in development.

Expect this one to burn a lot of bagholders.

I think NEO overthrow Ethereum

Clif High mention his report, that Anshares have huge potential.

I encourage biz to look at the merits of the argument and not meaningless posts like yours

Because the market is irrational. While it is likely to happen my position isn't large enough to gamble with

You have clearly some agenda against NEO.

You post same FUD Reddit and here Veeky Forums

This indicate that it is not your intrest that NEO price is going up.

So your posts different forums are clearly trying to FUD people.

That indicate that NEO is very strong, and offcouse these kind of succes like NEO, they are threat for example Ethereum, and you clearly dont like it, when you spam this your FUD different forums.

>This indicate that it is not your intrest that NEO price is going up.

My interest is in good holds. Your is in shilling as you have revealed. Learn english pajeet. You will shill better

NEO will
MOON
O
O
N

Do you suffer from Borderline-Personality Disorder?

>You have clearly some agenda against NEO.
Nice point
>You post same FUD Reddit and here Veeky Forums
Now i understand the hype
>This indicate that it is not your intrest that >NEO price is going up.
>So your posts different forums are clearly >trying to FUD people.
Yes i see now you have the strong arguments
>That indicate that NEO is very strong, and >offcouse these kind of succes like NEO, they >are threat for example Ethereum, and you >clearly dont like it, when you spam this your >FUD different forums.
Fuck this OP WITH HIS FAKE NEWS
Will buy 100k ASAP

Thanks for this thread OP, very interesting stuff, rare for this place. Since you don't seem to be shilling another coin, could you maybe give me a suggestion to revamp my portfolio ? I have $4k spread across ARK, ICN, XLM and XEM but would gladly give them all up.

From plebbit:

1) The wallets you mentioned are by the Chinese community rather than the by the official NEO team. If you really want a more trustworthy wallet, you can try CoZ's and the core wallet (doesn't support iOS though). edit (read fabwa's comment down below me)

2) Not sure exactly what you mean by that but I will agree that the website has a lot of little details just scream amateur-hour. Links often don't work and a lot of terms in the whitepaper have yet to be changed from Antshares to NEO. So we are all hoping Aug 8th will ease our concerns but at this point we are only speculating. There will be a website update, smart contract 2.0 and new white papers on 8th Aug.

3) Again see point two. The website is bad I completely agree. Again, hopefully these will be fixed with the new one. It's important to note that Da has insisted strongly they don't care about marketing and only want to focus on the tech. If we are charitable with his position then I suppose it is not a strong reason to FUD NEO. Even though, personally I would prefer more refined marketing to be done. I really don't see why he can't do more with marketing.

4) Erik wants an extremely strict definition of what is considered a "core" developer. So there are only 2 core developers on the platform. Their justification is that core developers actually don't need to do a lot of coding and most of the time is actually spend designing the protocol/platform. They further reinforce the point that as of recently there are only 15 core bitcoin developers so they think for the size of NEO right now, 2 isn't unreasonable. (Personally I am not sure how many core devs are in BTC to verify this statement so I am just taking his word for it) Finally, in the interview Da did with Boxmining YouTube channel, Da said that all NEO team wants to do is ONLY at the protocol/platform level. They don't even want to spend time developing a core iOS wallet because they want the community to do it. And look what happened, an amazing group like CoZ stepped the fuck up and did it! Now we have a community led council!

I think I already spoke to you in the portfolio thread? I am not convinced by ARK. I have visited the slack and spoken to the community. They are immature and unprofessional. There is a bit of controversy about the lead dev and his role with Lisk. It's too risky for me.

ICN I do not like either. It's built in eastern europe and they changed the functionality of ICN pretty dramatically (from earning dividends to gaining value from burnt buybacks). The latter is much worse.

XLM is controversial too. jed Mccaleb has a spotted history. It's also a fork of ripple. My friend thinks it will do well. He has made some very good calls to his credit. I'm still not convinced. It's up to you on that one.

XEM is a good coin. A bit too high for me right now but if it was sub 1 bill cap I would buy it.

I can't really advise for holds because I am personally still looking. I think FCT is pretty cheap right now.

5) China doesn't support private companies you are right. They never do and vice-versa, they clearly support their own national companies. They are called state-owned companies for a reason so I am not sure what's your point. I am a Chinese person myself and it is my opinion that while the Chinese government never really actively support private companies but they often will SUPPRESS private companies if they are out of line from the communist party's vision. Whatever is considered as "disrupting the social order" will get stopped with zero regards of "your rights" or whatever. There are no reasons right now for China to suppress NEO because NEO is attempting to digitalise assets rather than becoming a cryptocurrency. Key point about digitisation of asset is that it will require the government for verification of identity. There is actually lots of incentives to help NEO establish an economy based on digital asset because it allow things easier to be traced. REMEMBER that NEO will not be anonymous like how the blockchain/crypto community was first envisioned and I feel a lot of people in the cyptosphere are still hung up on that point. It doesn't really matter whatever ideals you stand for, whether you are a libertarian or a communist, NEO is not planning on stepping on the toes of the Chinese government by staying clear away from RMB by reinforcing that they are a digital asset driven platform. In a previous video (again by boxmining, great channel that's largely not involved with politics), the CEO of BCC (second largest and the first BTC exchange in China), Bobby Lee said that they are getting around the regulations by calling BTC a digital asset. If anything, bitcoin is actually more at risk than NEO since it is easier to use BTC to smuggle large sum of money away from China right now while digital assets (remember your identity is attached to it) is much easier to track because your identity is attached to it!

Those are pretty weak and questionable reasons. It looks to me you're trying hard to FUD. You sold your coins and you're desperate to see the price go down.

6) In my opinion this hype has only grew organically partly due to the lack of communication NEO has provided to the western audiences. If you go read the Chinese communication they have been pretty active in my opinion. It's just that we can't understand their talks/posts so it just seems like they don't exist. They have many hours worth of presentations on YouTube, I remember someone back in r/antshares day even hired a translator to translate a video.

damn im jealous

didnt know this was plebbit lmao

Forgive my ignorance but whats happening on August 8th?

On August 8, your ant ass goes down.

This fud seems to have worked.

If somebody is so stupid that sell because so anonyme writer FUD, then he has been earned to be poor

It wont be long when NEO is 50 dollar, and that is just beginning

Nice fud, just bought additional 100k!

If you havent sold your NEO at ath already you deserve to be poor, like the people who didnt sell OMG yesterday

Making money has never been easier before crypto

I sold, now the wait to buy in again starts.

dont you have schools in your pajeetland?

Just sold.

Come on you bitch, drop so I can I buy back in.

im afraid, that NEO will overcome Stratis easy

NEO has huge China market, and now western markets

NEO volume is huge, look today volume

I'm sure you do feel better. This thread is cope central for you fags who missed out LOL.

OP's main complaints are about lack of https, as if that means anything significant. piss off, lmao.

Very good read user and some of your points match exactly my thoughts.
What I really don't like about ANS is the obvious and blatant shilling from the dev. Wtf was them fake news with the chinese gov about? “Chinese Ethereum“ - since when do chinese prederrably support local businesses??
Also the roadmap is a joke.
This project is overhyped and will be outpaced by better versions soon.

t. Someone who sold at 400k but isn't salty as my gains are secured now

say what?

Don't worry, you'll have the last laugh as they will hodl until it crashes and never realize any gains.

Hello Xhang.

is it the jews or is it the chinks
pick one, you faggots

lol they conferring in japan soon, get in b4 pleiades

NEOBNT is coming, so both.

This. Only BNT is heavily underpriced and NEO overpriced. So pick the smarter money.

WAAAA WAAAAA WAAAAA

Haa this faggot is missing the NEO MOON TRAIN!

boo hooo

ah so it's a jew + chink combo conspiracy
cope more fags, lmao

Why are you so interested in where I put my money. Don't buy neo shares if you don't like it. You would have had the same and better arguments about money.

If you dont't believe in the coin then don't buy it.

It sounds like you're salty cause you didn't see it would eventually moon and you missed out. It's ok, ANS (not ANT btw, but of course you'd know that since you're a crypto expert : ) ), will eventually hit $50+ and you will still be FUDing.


LMAO

It has already crashing in yunbi. ANS is dead, screenshot this post

>It has already crashing
ok, pajeet.

that fud is hilarious. exact same thing was said against ethereum

this. it's fucking easy to make money if you don't get greedy. join some good slacks and get info from autists. jump on a coin when they all do, ride for about 10-15 percent, gtfo. repeat with another coin. profit.

you could literally do this once a week and btfo your stock portfolio. you could even just ride a 3-4 percent little wave.

looks like some people are mad neo is now in the top10 on coinmarketcap. More and more people are coming. Expect 100 at the end of the year

what are some good slacks?