(IJCH) If It's Too Good To Be True...(Ethereum DApp "333ETH" Marked as an "Active Scam"

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IJCH - Inside JaiChai's Head (Meaning: My Warped, Personal Opinions and Musings)

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From the Author:

Salutations.

I am JaiChai.

And if I haven't had the pleasure of meeting you before, I'm delighted to make your acquaintance now.

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I invite you to interact with everyone, learn, and have as much fun as possible!

For my returning online friends, "It's always great to see you again!"

Strange Name: "333ETH" - Half the Sign of The Beast?

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Who the Hell names their service "333ETH"?

Is it being marketed to "Crypto Half-Satanists", those not completely into that lifestyle?

Lol!

But seriously, this DApp's financial structure resembles a classic Ponzi Scheme; that is, its survival requires a constant stream of new, gullible participants.

In all Ponzi Schemes, the Founders and a select group of "Angel Investors" always garner the lion'share (if not 99%) of all profits, while the lower tiers get less and less - depending on how low on the totem pole the are occupying.

Anyway, remember this:

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The Cryptocurrency Space is still in its infancy; hence, a Wild, Wild West of snake oil peddlers.

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Always perform a thorough Due Diligence before investing in any investment; especially an ICO, cryptocurrency, or DApp.

Again I say...

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Because...

If It's Too Good To Be True...(Ethereum DApp "333ETH" Marked as an "Active Scam"

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Ethereum-based decentralized application 333ETH, one of the protocol’s most used dApp, has been labeled as an “active scam” by cryptocurrency wallet MetaMask, reported Hard Fork on Sept. 28.

333ETH is the most popular application on dAppRadar and provides smart contract-powered “investment distribution” services to users, promising investors a fixed daily return.

...However, no investment platform in the world can guarantee fixed returns in a trading market, and more unplausibly in the notoriously volatile cryptocurrency market.

...the dividends would presumably stop after the new investments fail to come in...

...Perhaps the only respite is the presence of smart contracts governing the 333ETH platform, meaning the dApp’s creators may not pull an elaborate exit scam and run away with all user funds.

See the full article:

"Ethereum dApp Flagged by Crypto Wallet MetaMask as ‘Active Scam’"

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Article Link:

https://cryptoslate.com/ethereum-dapp-flagged-by-crypto-wallet-metamask-as-active-scam/

By JaiChai

Mighty Kind of You for stopping by.

Truly hope to see you again!

If you enjoyed my post, kindly Upvote, Follow, comment and Resteem.

About the Author

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Believing that school was too boring, he dropped out of High School early; only to earn an AA, BS and MBA in less than 4 years much later in life – while working full-time as a Navy/Marine Corps Medic.

In spite of a fear of heights and deep water, he performed high altitude, free-fall parachute jumps and hazardous diving ops in deep, open ocean water.

After 24 years of active duty, he retired in Asia.

Since then, he's been a full-time, single papa and actively pursuing his varied passions (Writing, Disruptive Technology, Computer Science and Cryptocurrency - plus more hobbies too boring or bizarre for most folk).

He lives on an island paradise with his teenage daughter, longtime girlfriend and three dogs.

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(More articles by JaiChai can be found on the Busy.org website. Use this link to visit Busy.org. Better yet, come join the Busy.org community!)

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"My mind was a terrible thing to waste..." - JaiChai