As reported by a lengthy Reddit post from earlier today, Apollo (APL) has all the hallmarks of a huge scam to enrich its founders. The allegations, coming from Reddit user RossyRoffle, state that there are lots of red flags using the undertaking, suggesting that the"all-in one cryptocurrency" is nothing more than vaporware dressed up as ground-breaking tech.
The major points of contention in the current post concentrate around the lack of development towards grandiose ambitions, an former offender scam artist being behind the cryptocurrency project, a slew of bogus news being sold to followers as reality, and also a harsh coverage of censorship in community groups for anyone talking about the promises made by those behind Apollo.
Seemingly exasperated from the reported censorship experienced Apollo's public platforms, a Reddit consumer called RossyRoffle has assaulted the cryptocurrency for several factors. The article from earlier today claims that despite the grandiose Bitcoin, Ethereum, and XRP-killing claims of these behind Apollo, the project offers very little of substance.
On Apollo's personal website, visitors are presented with a sleek video saying that Apollo is optimized for an assortment of programs -- make sure it token creation, private transfers, smart arrangement use, document sharing, multi-signature support, and a multitude of other people. Basically, if you've ever heard about a cryptocurrency project promising to have created something revolutionary, Apollo can perform it apparently.
RossyRoffle refutes all this in their own post. They state that Apollo is not anything more than a branch of NXT using a lower block period. There are a few other"insignificant" code varies also but these hardly extend beyond name changes for existing purposes of their more established NXT chain.
That's not , yet. RossyRoffle states that the creators of APL are trying to pump the cost up to improve themselves. Claims are cited that the system will leave XRP and ETH entirely obsolete. Additionally, the poster provides some speeches to show just how much APL the creators are dumping in the marketplace as the cost rises due to this"fear of falling out" generated by those behind the operation.
"Listed below are a few APL Founder-held addresses in the event that you'd like to see them get rich in real-time: APL-4BUY-KK5W-B3KC-DMHBM and APL-NZKH-MZRE-2CTT-98NPZ."
Together with the grandiose claims of the project itself, fuelling this so-called"FOMO" is supposedly a programme of fake news and unpleasant censorship. The poster highlights entirely unsubstantiated claims the team has procured thousands of real world purchasing locations. People who question this to the official Telegram station (and other programs ) are immediately banned.
This competitive censorship apparently extends to other questions that seem to be really seeking a better Comprehension of the APL technology, for example:
"Isn't the privacy of the coin exactly the same as NXT? Can somebody clarify how it is any better?" "Why would you keep banning people for asking questions that are valid?" "How can you intend to implement sharding in Q1 if their is no code in the Github for it yet?" "You men believe the privacy of the coin is really better than Monero?"
The Reddit poster goes on to challenge their viewers to connect the Telegram team and ask a question. I tried and didn't get the opportunity to set anything into the team -- presumably a result of a slew of requests to join with the group after the initial article:
Some of the topics highlighted from the article that makes a feeling of uncertainty around the job is that the creator's past. In accordance with RossyRoffle, Steve McCullah previously established a fake Kickstartercampaign to fund a documentary at South America in search for periodical species. They move on to allege that McCullah disappeared after raising just kind of 30,000.
Obviously, cryptocurrency scams like those alleged are nothing new and pump-and-dump approaches have become an business standard for smaller limit coins. However, the major difference with this endeavor according to RossyRoffle is that all of the project is deceitful and the entire thing serves just as a vehicle to enrich its creators, instead of an orchestrated effort from a third party team to pump up a small cap coin to make a quick buck.