Basically, this post is to debunk everything out there that says its a "Scam". Misconception No. 1: The exchange is full of bots doing wash trading Binance has bots trading. So does every other exchange out there. That doesnt classify as a scam. A scam is something that's out to trick you and steal your money. Most of these are third party bots that aren't owned by the exchange. Even if it was, nobody can prove it, except the exchange. Bots provide a valuable function such as liquidity to help traders move in an out of their position. Misconception No. 2: A lot of pump and dump action, and token manipulation Again, so does every other exchange out there. There are a lot of pump and dump groups on Binance. Join a pump and dump group on telegram and they all announce their action on Binance. If you fall for the pump and dumps, Fcoin exchange isnt scamming you. You are being scammed by third parties. Get that clear. It has nothing to do with the exchange. Misconception No. 3: Its a Ponzi Scheme If you look a bitcoin, and its history, people have been saying that's a ponzi scheme. Well, you shouldnt be in crypto in general if you are saying this. Also, Fcoin token holders are receiving huge dividends (80% to 100% of revenue). Where did they get that money from it its a Ponzi. Bear in mind that Ponzi Schemes are illegal in China and people have been EXECUTED. It is very serious issue. You would be caught even if your servers are hosted elsewhere. Unless the founder's want a death wish.... Also, Fcoin has strong backing. They are backed by top Venture Capitalist in China. If you check out the profiles of the VCs, they've graduated from top universities, such as Harvard, Tsinghua (China's no.1 uni), and worked in top investment banks such as Credit Suisse. Doesn't make sense to scam someone when you've got so much credibility to loose. Misconception No. 4: Volume is Fake No, its real, except its done by third party bots. Fcoin invented a new mining model, where you get rewarded their token everytime someone does a trade. So naturally, that got more people to do trades on that platform. Misconception No. 5: How they support themselves if they pay out 80% to 100% of revenues. First of all, its not from all trading pairs. It's only from a few pairs of currencies. Also, new startup tokens listen still need to pay trading fees. So why the hate? People hate and spread false rumors when you they realise you are strong and are a threat to their vested interest (and jealousy). Especially other exchanges. Enough said. Also, people not doing enough research as well getting confused. If you are being manipulated by third party bots, that has nothing to do with the exchange. Fcoin is a community model. Some people are angry and jealous when you are spreading the wealth. For example, they are currently setting up something whereby new organisations listing their coin on the exchange get 10% of the trading fee forever. Then we'd got the Binance CEO slating the new Fcoin business model. The fact he's good at programming/hacker, doesnt make him a genius at investing, or even qualified to comment on economic/token models. Also, that original post calling Fcoin a "scam" said he'd release evidence. Its been more than a few weeks. Where is it?
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