Speak – and a fortiori denounce – crypto projects that we will modestly qualify as “ambiguous” are systematically a matter of conscience for a specialized media. On the one hand, the community believes – rather legitimately – that this is a form of “duty”, on the other, imperatives of realism drastically limit the room for maneuver on the subject.
Fortunately, the crypto community that has seen others has real resilience, in addition to being populated by individuals with obvious skills and willingly sharpened feathers.
No crypto-pip this week, but a little echo brought to an initiative which aims to educate and warn against the Sestrel project, one of the offspring of Zynecoin. As a reminder that these projects, like many others, are at the opposite extreme of the values carried by Bitcoin and the blockchain.
Do Your Own Research!
DYOR ! In the form of an interjection almost as famous as the famous HODL ! what looks like a belching, however, sums up much of the values of the crypto community. Do Your Own Research ((FVPR! we agree that it sounds less good).
In other words, be responsible, enlightened, walk yourself the way and take back in doing so, power: a perfect allegory ofpart of the blockchain promises, and yes.
Indeed, if one of the slogans a little marketing in the sector (” be your own bank “) Sounds sexy, it comes with rewards : You will also have to be your own insurance policy and your own investigator!
In short, the crypto continent is fascinating but woe to the naive! crooks abound there, ready to “double your Bitcoins” faster than their shadow or spark off improbable and supposedly guaranteed profits.
This is how you will see advice regularly updated in our columns: educate and educate yourself, the time spent learning is probably theremost profitable investment that you can try without fear.
ZyneCoin and Sestrel, different labels, same warm water
“Rookie” or old brigand of the sector, we hear a lot about these two projects lately. The Zynecoin, for the sulphurous dimension of its boss and the many red flags that the project manages to magically raise from all sides. The Sestrel more recently, worn by the humorist Dieudonne who, probably tired of being only a support and “influencer” of Zynecoin, quickly decided that he was big enough to start his own project.
Let’s be clear about the root of the problem: It’s not really Zynecoin or Sestrel, nor was it OneCoin Or other Plustoken. Time goes by, the titles change, dubious new projects will continue to appear perpetually, especially as the crypto industry, improbable mixture of financial products, lottery and intimidating technologies, is particularly fertile for the proliferation of initiatives of this type.
No, what you have to know is that among the common points of these projects, will always be in the right place – besides the obvious colossal benefits promised – a logic ostracization , a speech by “Them against us”, and a reversal of the charge.
Opponents and critics will always be called “jealous“,“embittered“, Even in the most caricatured cases, downright adorned with insulting qualifiers (“slaves“,“cockroaches“….). The gray eminences behind these companies fear more than anything that their “target heart” will be able to find information elsewhere than in the closed circle of the “elected” of the project. And this readily religious rhetoric owes nothing to chance.
However, beyond even the fact that the sad sires seek to make you take bladders for lanterns, all this mechanics takes place to the extreme opposite of the whole corpus of values dear to the crypto community: the freedom of choice, autonomy, independence in the face of dogmas and self-proclaimed and centralizing leaders.
A website dedicated to debunking Sestrel
For lack of clear regulation and D‘Supervisory authority reactive, the community fortunately often takes the initiative to expose suspicious projects.
As such, among the good reflexes to have, have a look at the “Scam accusation” section of the very well informed forum Bitcointalk, will always be instructive. The Zynecoin already makes the news of this section. There is no doubt that the Sestrel will eventually reap the honors due to him.
But in the meantime, the opportunity is good to discuss a recent initiative, available under the domain name sestrel.fr and which lists all that – in the eyes of its creators – does not work in the project, and worse, purely and simply violatest some fundamental rules of the crypto sector.
We’ll have fun passing the seriousness of the team behind the sestrel project, which seems not having even thought of reserving the domain name associated with their company (reminiscent somewhat of the “forgetting” of the Zynecoin team to reserve the name “wethio.com“, Before the always so teasing CryptoTimal – we kiss her – do not kindly point them out, causing a panic purchase in the following hours … no doubt, the parentage is obvious).
Anyway, using Sestrel, as perfect example not to follow, the editor (s) list the unlikely list of shortcomings of a project that, even in the general hysteria of ICOs in 2017, would have had difficulty convincing.
Among the arguments presented that you can consult in detail on the site, we will retain a few (extracts Verbatim from sestrel.fr):
- No team : apart from the founders and his “supporter” Dieudonné there is no declared team. How can you trust such an ambitious project without a technical team? Serious ICO projects usually bring together a team that is publicly declared BEFORE raising funds
- no transparency on the movements : Dieudonné announces a big success of “participation” at this stage in his video of 19/11/2019 on Youtube (…) Dieudonné and his acolytes of Zyne complain of suspicions and criticisms, the simplest would be to be transparent to avoid questions. This is also the standard for standard ICOs
- no existence in a blockchain : unlike his “cousin” Zynecoin the sestrel does not exist in any blockchain (including Bitcoin or Ethereum). Worse than Zynecoin, great performance. Developer Brice Colucci’s smart contract project presented as associated with the project is no longer online on Github.
- no clearly defined financial intermediary : who is in charge of the financing operation? Dieudonné says it in his videos: he declares that he is not the intermediary (responsible therefore) of the investment operation. We have seen through the Zynecoin saga that putting a financial asset on the market is a profession and that in their case the lack of skills and experience in this field puts investors at risk (problem of Zyne exchange platform , KYC and bank account problem, fraud problem, etc.)
Who is behind sestrel.fr, what meaning should be given to their approach?
As always in such a case, the supporters of Dieudonné’s project will cry out conspiracy, to the malice and the will of a “system” with very vague outlines, to silence them, while shouting at defamation and other classics of the same kind.
And in addition, the authors behind the site sestrel.fr, in spite of the measure of their intention, of the relevance of their questions and their simple desire to community warning, will be subject to equally classic threats and intimidation. This is the reason why they prefer to stay anonymous.
“We are a group of professionals in innovative technologies including the subject of crypto and blockchain. Anonymity (very relative) seems necessary to us at this stage given the passions that unleash the subject on social networks. We support a debate based on logical and financial arguments based on factual arguments. ” “Who are we” category of the sestrel.fr site
Moreover, it did not take long for the site to be the subject of sustained interest:
Sestrel.fr also takes the opportunity to recall the contact details of the financial regulatory authorities, in particular the AMF and the DGCCRF.
If nothing and nobody is able to prevent the continuous flow of opportunistic, badly engaged or downright rapacious crypto projects, we can only praise the collective or individual initiatives which try to play the role of “community immune system” .
We can only praise it, all the more so since these initiatives will be worth their initiators only threats, insults and smear campaigns. The gain to be gained from this type of denunciation is zero, and the price to pay very real.
Real “whistleblowers” from our community, let them know that pages will always be open to them.
Nice to meet you, it’s Hellmouth! Editor-in-chief of , the crypto media you are honoring to survey right now (well done, you have taste).
Crypto-enthusiast of the second hour, nothing is more important to me than supporting the global adoption and democratization of the treasures that the blockchain offers us.
I write articles between two cocktails in Tahiti, my adopted island, and do not hesitate, if the opportunity arises, to feast on a plump scam or a little too enterprising Ponzi pyramid.
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