Utrust example of a SHITcoin

Utrust is a perfect example of a company that is running a valid operation, as well as a pump and dump pyramid scheme.

After reading their white paper I can summarise with the following:

Here's the problem. What the fuck does the token do?

According to the website the token is used to cancel out transaction fees for using the platform. A % of each transaction is used on every purchase to either BUY UTRUST tokens from the market and burn them, (why? To increase the value of the remaining tokens ofcourse)... OR if you choose to pay purely in UTRUST tokens, they burn a portion of them aswell.


I must ask.. Why? What the fuck? Who thought it was a good idea to produce a cryptocurrency who's sole purpose is to be burned to increase the value of the remainder of that cryptocurrency? This is literally an official pump and dump.


The token holds NO value other than literally to be destroyed to increase the value of the other tokens.

And these fucks then have the gall to come out and say:

"The token actually has a use"

Fuck these guys, at least they included the following in their small print, that makes sure you KNOW you're buying a pump and dump, and the tokens literally have no purpose, backing, or meaning.

The UTK does not grant any direct equity stake nor profit sharing. It
does not represent an ownership right or claim in the UTRUST platform, revenues
or intellectual property, either present or future. Despite UTRUST team’s best efforts
and diligence to bring this project forward, all contributors should be aware that
their contributions are not refundable and accept the inherent risk of project failure
at any stage of development.

same as bob I guess

BNB

Still more than most coins/tokens.
Where is this being traded on? CMC is not showing me the exchanges

>utrust
kek, they're so blatant too

This is why Kuck coin is so successful, they are literally giving out dividends on the fees of their platform, That's fucking revoloutionary, almost like.. a decentralised organisaiton where you buy shares and get dividends...

This UTrust is literally running a paypal-clone with crypto (again a great idea)...

And then paralell to that running a literally buy our coins, theyl'l go up cos wel'l destroy them eventually... scam.

That's not how crypto works, Why the fuck would anyone bother buying this if the sole purpose is literally that youl'l create fake demand for them by destroying them?

I don't doubt it's complete garbage but there's a lot of hype behind it and that's all that matters

This allows deflation and purpose to hold long term fucko

They should've called it "PlsTrust"
or

"GivTrust"

"trimming bitcoins"

I just spend $1000 on this shit

I'm hoping this will go up 30x

There is literally no buisness reason to have a crypto coin in this organisation.

They took a valid business idea (accept crypto, convert to fiat, and pay merchants with fiat)...

and then they duct taped some half baked coin that has no reason to be there.

Tell me what does this company actually lose if they remove the coin completely? Absolutely nothing, (except perhaps your ICO funding)...

And what do you gain from your ICO funding? An ownership in the company (as you would if you funded a proper startup? HAH No)..

You get a half baked ungaurenteed promise that they'll buy and burn their own coins to create fake demand.

...

Why don't you post this in the utrust thread did they can debunk you?

You're completely right, OP.

I'm shorting the fuck out of this to buy CRED which is the same thing but not shit.

Everyone should be investing in CRED right after this shit gets thrown in the dumpster.

thats literally 99% of all crypto

they still pump because idiots so fuck it, ride the waves sell the tops get rich

why do you care so much what the coin does

ethereum is all that matters anyway in the end, everything else is a shitcoin

>paid 3x ICO price on ED to get a headstart before Kucoin launch
>bought for 10 eth
>suddenly find out it's currently valued at $84 million because the devs were retarded with the amount of tokens
>suddenly find this thread

eeeeeeeeeeee

get ready to get dumped on

What time east does it come out? and what is everyone else dumping at?

Still no reason for them to dump it before it's on HitBTC

One thread shilling the coin, another thread shitting on it.

Holy fuck is it going to go up or down, I just spent $1000 on it?

also when there's trouble between customer and business they have to talk using a chat utrust provides, if that doesn't resolve it a utrust operator joins the chat.
lmao so it's either utrust supplying one big generic customer service to every business out there or utrust employees that have to act as judge over external businesses their transactions.
no fucking way this will ever take root.

make profit then get the fuck out of dodge

prediction: it will go up to ~50 cents and then people will dump it. do what you will (private telegram chatter)