Why am I getting Free Crypto on bitshares?
Why am I getting Free money on bitshares? I'm not complaining, it would just be interesting to know why.
This site: http://www.cryptofresh.com/ is a like the steemit equivalent of etherscan.io for ethereum or blochain.info for bitcoin. I recently starting using bitshares so that I could buy and sell STEEM, on binance I could buy STEEM, but I couldn't withdraw it.
I used cryptofresh to have a look at my own bitshares profile and for some reason there were two bots that were giving me free crypto. I'm not complaining, but I'm very curious about how and why these bots are handing out free crypto. The amounts were very small, but that being said I still got the crypto for free. This is my bitshares profile: http://www.cryptofresh.com/u/netscape101
The first bot to give me free crypto was: http://www.cryptofresh.com/u/dragon.capital2
he give me 0.01 XISTOCASH. See here:
This bot is rather generous. Have a look at the random payouts he made:
The amounts that the bot is paying out might be small per payout, but he/she/it is still handing out crypto for free. Here is the full profile for the bot see:
If this is your bot, well then I would just like to say thank you for being so generous.
The second bot seems to be handing out ripple. I'm not a big fan of ripple, but thanks for the free crypto in any case if this was your bot. Here is the profile of the bot: http://www.cryptofresh.com/u/krong123
This bot always seems to pay out 0.12 ripple to each user on bitshares. See for example it sent me some ripple here:
This amount of ripple is very small, but I worked out that if this user where to sent out 0.12 ripple to a 1000 users then at the current price of ripple it would cost the user around $94.
This is was the ripple price at the time of writing on coinmarketcap:
I hope my calculations were correct, but this is how I got to $94:
My questions at the moment are:
- Why are these bots or users sending me crypto for free?
- What do they get out of sending me free crypto.
- These amounts are quite small, would the fees of selling these amounts be more than the actual amount if I decided to sell the ripple and XISTOCASH?
I would like to hear your thoughts on the matter.
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BTS is A decentralized exchange. Those are issued assets. Maybe they have plans for them. Maybe not and it’s just a digital paperweight if you will.
I don’t think that is legitimate ripple it looks like someone issued a asset called “riple” . Weird but whatever lol.
My final statement will be to read up on asssets. Many pegged assets and issued assets are legit and some less than others.
Good luck
Good spot. So basically they are hoping enough people will trade these fake tokens at the price of real ripple to drive up the price then sell their created tokens for a nice profit.
Wow I didn't have enough coffee today. Only saw now it is "riple" and not "ripple", thanks gonna read up on assets on bitshares. Thanks
Yeah they might even try profit by making money off the transaction fees, which will properly be higher than the overall value of these fake tokens.
Yes with a dex I have learned the framework is beautiful for people like Ronny at ol, gdex, bitland, CryptoBridge etc. but it takes all people to become aware of the abuse the framework can take from fake tokens and shady people.
Hi @netscape101.
Thank you for sharing! I am new to all this also and it is great to see others journeys.
I just tried sending some STEEM to bitshares through @rudex.
I didn’t see that the minimum transfer is 1 STEEM and sent 0.01 STEEM as a test.
I think the 0.01 that I sent is now lost because I didn’t read the instructions properly. Oops.
I was looking at https://steemd.com/@rudex and noticed that you sent 0.028. I thought I should mention to you that the minimum transfer is 1 STEEM as I think you may, like me, have lost it.
I’d be interested to know what happens with your transfer. Thanks.
Haha thanks for the comment. Yes I made the same mistake as you did. I want to try send a 1 steem later on when I have 1 steem and hopefully rudex will send me 1.028 steem to my bitshares account. Btw are you on the discord for bitshares?
Nice one, glad to stumble upon your blog. Good posts. I am now on discord BTS. Thanks for that also.
Cool your welcome. Keep grinding! Btw I don't think I see an intro post on your profile. I should also probably still do one :)