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Comment by 0wing | Hacker News Reader

Raiblocks aka Nano is a scam.

"Distribution is complete" - how was the supply created and distributed?

https://raiblocks.net/page/frontiers.php?limit=100

Basically someone created Raiblocks by forking another DAG 'blockchain' database, and allocated themselves millions of coins spread across many addresses. A few thousand coins were given to the public if they clicked captchas.

These people who generated raiblocks / nano are now essentially multi-level marketeers trying to convince you to buy their beanie babies.

https://www.youtube.com/results?search_query=raiblock+captch...

Remember, anytime you buy a cryptocurrency means someone else is trying to cash out.

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> anytime you buy a cryptocurrency means someone else is trying to cash out.

The reason people sell stuff is usually to optimize their portfolio construction, not because they think the price is going to go down. Just because you think something is going to go up 10x in the next year doesn't mean it's a good idea to hold onto it.

>Just because you think something is going to go up 10x in the next year doesn't mean it's a good idea to hold onto it.

Could you please explain this to me

I think Stellar is going to go up 10x by the end of next year. That doesn't make it a good life decision to mortgage my house and put my life savings into XLM.

Please explain which blockchain they forked? The original RaiBlocks paper and first beta implementation was published in December 2014.

If you make accusations, please back up your claim.

To be honest, I don't care about them cashing out. Everyone who builds a company that changes the world cashes out.

Nano is solid technology, doing what it promises in practice. So I don't see how this is a scam or a get rich quick scheme. If them make the new bitcoin, they can cash out for all I care, and I hope they do.

Beanie babies? Please explain how their technology is inferior compared to e.g. Bitcoin, Litecoin, Bitcoin Cash, ... .

As an outsider who has become deeply involved in the community, your assessment of the creators could not be further from the truth. They are hard-working, honest individuals who are extremely open about their process and holdings. Check out the dev fund, which represents about 5% of total holdings: https://www.nanode.co/account/xrb_1ipx847tk8o46pwxt5qjdbncjq...

The core team has been working very hard to try and improve the software, and they are making strides every month. I am constantly impressed with their professionalism and stature.

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