Unity Ingot Reviewed on Reddit by Investor
Unity Ingot Exposed found a review of Unity Ingot by Reddit user: woke_in_NZ
The Reddit Unity Ingot Review is as follows:
Posted 20 July, 2017:
Unity Ingot sounds like a great business plan, mine Altcoins, then convert them to gold and bitcoins, while implementing a buy back program over time.
Issue is, it’s likely bullshit, here’s my reasoning.
- Their page is filled with spelling and grammatical errors. Even if the devs aren’t English speakers, they could hire a freelance writer to go over their copy. Indicates they don’t give a shit and don’t want to spend a few hundred bucks for good English.
- The math seems a bit too good to be true, even the lower end of estimated returns is still quite high.
- There’s no verification system in place to show how much gold they have racked up, bitcoin balance, operating servers etc.
- Their social media and web presence appears to be dead, no new posts since late May/ early June.
- The day after releasing an email to Livecoin users, someone dumped 6,000,000 tokens on the exchange. To give you an idea of scale, yesterday before I dumped mine, the volume was around 6,000 tokens.
- Their slack channel seems to be invite only.
- They don’t appear to have a lot of dev experience on the team – this last point is from a Bitcointalk user who did research on their social profiles.
This is suspicious as shit, and despite all this I wanted to give them a benefit of a doubt because the idea is really cool.
I left myself with 200 tokens, as a reminder to be more careful in the future – so many red flags.
P.S. Shame on you Livecoin for not vetting your sponsored coins better – I get that you’re a business but you should have some duty of care towards your community. This is how you lose customers.
You can find the original Unity Ingot Reddit review here: