cryptocurrency analysissafemoon analysis

is safemoon the biggest scam ?

Safe Haven is one of the most controversial cryptocurrencies of 2021.

In this article, I want to address some of the claims about the cryptocurrency and determine whether or not the coin is one of the biggest scams in the world right now.

biggest claims against the coin

In this article, we can see some of the biggest claims against the coin in recent days. a Twitter account under the name of world rugs allege that the owners of Satan possess over 50% of the coins total liquidity, and this could potentially be setting up the project for a crypto rug poll.

For anybody unfamiliar with this term. This is when the developers hear my new tokens. The tokens are then being promoted in order to generate buzz, and finally, the liquidity pool that allows decentralized swaps to happen or drained by the creators. This will help the creators of this project amassed an extreme amount of wealth and the tokens you and I hold on to are now on tradable and essentially worthless.

The article here also mentions other crypto influencers who had called the coin a Ponzi scheme, and other users are reporting unfair practices about the coin. Since users recently tried to sell their coins, they’re reporting losses of over 50% upon withdrawal. These are some of the most common claims against safe moon.

address some of claims and analyze

one of the loudest claims that can safe moon as a potential for the whole thing to be a giant rug pull.

Like I mentioned earlier, a rug poll is one of the developers of this project, pump up their own coin, and then sell the liquidity at the cost of other users. One of the evidence mentioned online is a wallet address that is reported to be holding more than 50% of the liquidity pull. Basically, this wallet holds a massive amount of safe moon tokens used to make sure that your transactions go through these pools of tokens are what makes transactions work in a decentralized exchange. Since central figures are not really present. When you try to swap your savings and tokens you’re really swapping against this huge pool of segment reserves. This will make sure that your transactions work since we can’t always rely on another person being on the other side of your trades. In the case of safe moon tokens, it looks like the majority of liquidity on the network is held by the developers of this project. This means that the developers here decide to sell this amount your coins will essentially become untradable. And therefore useless. You can summarize the claims as this anytime the developers of this project can completely Rob everybody of the cryptocurrencies.

This is really the danger that people are talking about when they mentioned statement to be a huge scam. However, I think the capacity to do something doesn’t make them guilty of doing so it’s sort of like saying the Federal Reserve compressa US dollar at any time, and therefore they’re guilty of doing so similarly, it’s sort of like saying the US is plotting to destroy the world because they’re holding on to so many nuclear missiles. I think we’re missing a couple of chapters from the story in between. and we can’t really establish a motive here, the name of the creators already public and why would they risk life in prison for a couple of million dollars when they already made so much from this project, but that isn’t proven to be guilty in any way so far. And this is not mentioning the fact that Ron Paul is usually done quickly after a coins release. This is because the developers here know that the coin doesn’t really have a future. And I think in the case of safe moon, if the developers wanted to, they would have done so already.

it’s too early to tell whether or not this whole thing is a scam. Anyone who currently say so is really jumping into conclusions.

However, I think if the creators of this project really wanted to be successful, then they might want to lock up the liquidity pool in the future. This will psychologically make people feel much safer about holding on to saving coins. The name of the coin is called Safe moon for God’s sake and I think you should feel safe holding on to the coin.

Other allegations I can safe Moon is people calling it a Ponzi scheme. And I feel like this is such a popular term nowadays, but people really understand what it really means. The made up fund was one of the most famous cases of a Ponzi scheme. He asked people to invest into his fund deposited the money into a chase checking account to buy cars and homes and then paid older investors with the money of new investors. He offered people consistent return in exchange for investing with him. This is the same idea behind the big Connect scam. The platform promise users 40% and guaranteed returns per month for acquiring their own bitconnect coins and locking that away. They claimed the money was earned from so called trading bots and in the end of the lockout period, you would earn your initial capital plus interest in 2017. The government of UK as big Connect approved the legitimacy of this future. And when the company couldn’t they were shut down.

biggest claims against the coin

We later learned that this company used money from new investors to be able to withdraw funds from older ones. And this was because their trading Boston really work and they also needed the money to be able to fund their own personal bank accounts. Per the SEC cryptocurrency Ponzi scheme guidelines,.

They offer abusers high return with virtually no risk, overly consistent returns or guarantee monthly returns. And the platform was also unregistered complex difficult and people can get their money back since it was gone or embezzled. And if you get what I’m trying to say here, this is pretty much night and day compared to something like safe moon, the platform never mentioned anything about guaranteed returns.

In fact, I think we all understand the risk of these type of coins. This is not a guaranteed investment that promises users consistent returns.

Instead, anybody who invest into safe mode should know that they can lose a ton of money. The platform never promised us any sort of guaranteed return just like other stocks or cryptocurrencies. And let’s not forget that this is a decentralized currency meaning that the price of it can go up or down and some other people even call this whole thing. massive fraud because 10% of users hold on to most of the coins.

And I really don’t think any of this makes any sense because when you take a look at something like Bitcoin, less than 1% of account holders hold on to 87% of the coin. I mean, concentration of wealth is really what happens in any sort of economy over time. And I don’t think this characteristic would indicate any sort of fraud. In fact, most of these people are people who took on the risk earlier on. Realistically, there’s no difference between safe moon and other cryptocurrencies on the market or even stocks of companies who lose money year after year. You can argue that safe moon tokens provide no value for the investor.

But this is also the case with other cryptocurrencies gold and even artwork are only consider valuable because of their ability to appreciate in value. Basically, we all know that this is a risky thing to invest into.

The developers here didn’t deceive us in any way, they never guaranteed us any return never promised us anything, and pretty much gave us what we wanted. Most importantly, your money went into segment tokens, and they never embezzled your money.

Some people can even argue that the tax feature on that makes it a pyramid scheme. But all users are taxed at the same rate regardless of when you purchase the coin.

Yes, you can argue that users who entered onto the project earlier on receive more coins, but they took on the risk that we didn’t. Those who purchase Apple stocks early on are much more for taking on this risk. And because of that, they probably have a much bigger balance and anyone else holding the company and they also receive much more dividends.

And another thing is they’re earning more shares. A safe move for holding onto the token doesn’t always guarantee you money in the future.

Let’s not forget that this is a decentralized exchange and prices can go up and down regardless of how much coins you hold.

If you can take one thing from this article is that the promise of high returns and also the embezzlement of your money is really what makes something a Ponzi scheme.

And I don’t see that and save moon.
The last critique of save Moon is that it has an unfair withdraw process where users are reported to be losing 50% of their holdings upon withdraw. The simplest way to withdraw your statement tokens is to use pancake swap and convert your statement tokens back to smart chain tokens, and then converting that into USD. However, during the recent peak in safe home prices, you were only able to get your safe one tokens at a fraction of the actual price. I suspect that this is a technical issue on the side of trust wallet, the number of new users buying in overwhelm the platform and the price failed to adjust upwards.

I mean, purchasing small chain tokens on trust wallet didn’t even work for most of the time. When I take a look at my wallet.

safemoon

Today, it looks like this issue has already been fixed, you can see that I’m able to exchange my statement tokens for the correct amount of smart chain tokens. We do pay a 10% tax when we decide to sell our segment tokens. But this is what we expected. However, this is nothing compared to the 50% loss that users complained about earlier on. In my opinion, this is probably a technical issue on behalf of a trust wallet or even pancake swap.

If anybody knows the exact reason Make sure to mention that in the comments below.

I wasn’t able to find a good explanation online and I hope someone else has a better answer than I do. Essentially, we can all agree that this is an extremely dangerous cryptocurrency to invest into the developers of this project can pull the rug at anytime they want to the price of segment tokens are extremely volatile. And you also might continue to face technical issues and make it hard for you to sell your tokens. Risk Management is key when you’re talking about tokens like this, there’s no doubt that these things have a high chance of going under. Therefore it’s extremely important to buy low and high. And it’s also very important to make sure that this is a very small part of your overall portfolio. You want to keep most of your money in cash stock and also other cryptocurrencies.

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