Most of the time I visit the forum here, I spend my hours of perusing through the General discussion board and Bank and Exchange now. With PTS going bye bye I don't see a need to visit there anymore. Today by chance I stumbled upon LottoShares. I follow a few people here and saw they posted in a new board labeled LottoShares. LottoShares it seems is going to have a snapshot at the end of this month and honor PTS and AGS with 10% each. It also is going to give shares to top BTC and Doge coin holders. Cool right? What I saw next was quite surprising. MMC holders were to get 10% and user FreeTrade was the man behind Lottoshares.
For those of you unaware, FreeTrade is the developer of MEC (MemoryCoin), and MMC (MemoryCoin 2.0). He was also paid to help create PTS. MEC was a failed coin (I'll let you decide why if you are inclined to search). In releasing MMC, FreeTrade decided to airdrop to PTS holders and "contributors" to MEC in a premine genesis block. It was later discovered that FreeTrade gave himself 207,000 MMC of a 760,000 premine that was to be split amongst PTS holders and MEC "contributors". He never disclosed that he would receive 27% out of the gate. He also refused to admit it, until multiple members of the community put continued pressure on him. In the meantime, he used these coins to further attain more MMC through 2 blockchain paid positions.
These paid positions are what made the MMC coin unique and different to any other. Each position was filled by an election every 20 blocks to those who got the most votes. Each coin you held was equal to one vote. You can see where this is going... FreeTrade gave himself enough coin to vote himself into positions and not be touched. Not very democratic and put the coin in a compromised state.
What is significant about all this is that here we are again. FreeTrade using an airdrop to help mask that he is receiving a large amount of the "new" coin. He is airdropping to a coin where he is most likely one of the larger holders and his holdings were not "earned" through a fair distribution, traded for or bought on an exchange.
You may say, "10% is beans and doesn't amount to much."
I would answer, "he is also airdropping to hundreds of thousands of BTC addresses and DogeCoin addresses. What is to stop him from giving himself boat loads hidden in those coin addresses too?"
After all, that's exactly what he did with MMC. This doesn't mean that he is doing this either. With that many addresses, how could you possibly figure anything out. This is where the beauty lies in this clever scam, airdrop your premine to yourself surrounded by thousands of money hungry hand out takers who only care about "their" free coin and what they can get for it.
Just beware and do you due diligence. It may be all good
, but based on what has transpired before, it doesn't seem likely. Not to mention, my tiny post about this was immediately deleted by FreeTrade in the child board Lottoshares..