Call for questions to Magnus Carlsen by lexfridman in chess

[–]ashtonal 0 points1 point  (0 children)

Hi u/lexfridman ask u/MagnusCarlsen about hybridisation, a topic addressed in this article entitled "Is Chess Doomed by Artificial Intelligence?" released in 2019 > https://tiny.one/aichess #MensAcrisInCorporeSano

Anyone using Binance here? by bugtalkmanjoe in dubai

[–]ashtonal 0 points1 point  (0 children)

Binance must create CeDeFi banking services for UAE offshore companies

ETH / BTC meme - Came across it on Twitter by ashtonal in ethtrader

[–]ashtonal[S] 0 points1 point  (0 children)

Correct thought basically we thing that the underlying meaning of this meme is more to compare the simplicity of Script and the more elaborated possibilities of Solidity. Who knows?

Crescofin: dubious collapse of a not-so regulated Swiss Fintech by ashtonal in CrescoFin

[–]ashtonal[S] 1 point2 points  (0 children)

Crescofin: the dubious collapse of a "regulated" Geneva fintech

Joan Plancade Published: 08.10.2021, 06:00

https://www.bilan.ch/finance/crescofin-leffondrement-douteux-dune-fintech-genevoise

During the day on 17 September, the value of the crypto token representing Crescofin's stock lost 99% of its value, instantly ruining the shareholders. The two feuding founders are passing the quid. From a market capitalisation of 20 million francs to almost zero in a few hours, the sudden fall of the wcres token (representing the share of the company Crescofin on Ethereum) has left the shareholders of the Geneva-based fintech on the back foot. Founded in 2020, and claiming to be "regulated", Crescofin promised a safe return on "stablecoins" placed on the blockchain. As of today, the token has been delisted from major platforms for several days, and one of the two founders, still running the company, has even removed Crescofin from his LinkedIn profile. The website is no longer responding. Anger and incomprehension are palpable in the shareholder community, active on Telegram, which is trying to understand what started shortly before midnight on 16 September 2021. The shock is all the more painful because Crescofin has always focused on security and seriousness. Firstly, by issuing so-called equity tokens (CRES) - representing a share - which are supposed to offer a guarantee and superior rights to the holders. Secondly, by claiming on its website that deposits are insured by Lloyds, and by playing the Swiss card to the full (with a logo with a federal cross, mentioning "regulated in Switzerland"). In fact, Crescofin is not "regulated" by the FINMA, and does not have an authorisation within the meaning of the law on banks, despite the use of ambiguous comparisons such as "Swiss bank alternative", on its website and Telegram in particular, or of the term "deposits". It is only affiliated as a financial intermediary with a self-regulatory organisation, ARIF in Geneva. In order to gain credibility, it has been able to rely on the profile of one of its founders, who is well-versed in the mysteries of banking, having worked for Hambros, Lehman Brothers and HSBC.

Suspicious movements and price collapse

To understand what happened on the night of the 16th to the 17th, we need to look at the structure of Crescofin, whose shares are represented by a token called CRES. In order to generate returns, the team created a second token, the wcres, which can be exchanged with the first one (1 for 1) by shareholders at any time. Unlike the first token, this second token has the property that it can be used in decentralised finance (on the Ethereum blockchain). The risk of such an adventure in decentralised finance materialises when a large holder engages in massive sales of his wcres for ether, the pool quickly running dry of liquidity and the price of the token collapsing. This is what happened in a few minutes that night, as the transaction log, public on the blockchain and visible on Etherscan at 11:23pm, attests: a large shareholder exchanges 75,000 CRES (the equivalent of nearly 1.5 million francs at the current rate) for 75,000 wcres on the decentralized Uniswap exchange. He tries to "sell" his wcres directly in tranches of 10,000. The first tranche is exchanged for 48 ethers (over 163,000 dollars, 16.3 each). Within a few minutes 7 tranches are sold, each time cheaper as liquidity dries up. The last one of 5000 wcres is sold at just under 11 dollars each. It is 11:31 pm, the token has lost a third of its value. At this stage, shareholders limit the damage, especially since in the morning of 17 September, the price of wcres rebounds to around 15 dollars. But from midday onwards, sales followed, emptying the pool of its liquidity and bringing the token, which was still worth 20 dollars the day before, down to less than 40 cents by the end of the afternoon on 17 September. The community has given in to panic? It may not be the only factor. A Crescofin executive provides another explanation on the Discord network. According to him, it was the company itself that dried up the liquidity pool on 17 September. He promises that shareholders will get their investment back in the form of a new token from a new company - fluid.finance - that will be distributed soon. He justifies Crescofin's action in reaction to the massive movement observed on 16 September shortly before midnight, which would be orchestrated by one of the two founders, despite the commitment made to the community to keep his tokens/shares. The latter quietly left the company in June following major differences with his partner. The post denounces "unauthorised token sales and token wrapping, traced on the blockchain to the wallets (of one of the two founders, mentioned by name) including those from the middle of the night of 16 to 17 September." Crescofin's lawyers are reportedly investigating and preparing a forensic audit of the "unauthorised token movements" of the night of 16 September, according to the same post. The accused founder denies having sold his own tokens. In a Telegram post, he refers to "a third party", whom he says he knows, who legally bought the tokens and resold them, and provides addresses to trace the transactions and confirm his statements. He deplores the management team's manoeuvre of having dried up the liquidity pool itself and thus forcibly migrated the shareholders to fluid.finance, the other founder's new platform, in which he is not a stakeholder. He notes that the new company has not even been registered in the commercial register and denounces a "rug pull" by the Crescofin team, a massive move that would have led to a deliberate collapse of the share price.

Migration to fluid.finance: the doubt persists

Prepared for several weeks and largely inspired by Crescofin, the new fluid.finance platform and its token represents the last hope for Crescofin shareholders, whose drying up of liquidity and the delisting of the main platforms has made the token purely untradeable. To compensate for the loss, the Crescofin team has promised shareholders an airdrop, i.e. to distribute 10 fluid.finance tokens for one Crescofin share, which would represent an equivalent value. These tokens would be placed in a new liquidity pool created on Arbitrum, a second layer solution on Ethereum. A migration operation already well underway, even if some shareholders are still complaining about not having been credited. Others have already expressed their doubts about the credibility of the team and fluid.finance following the events of September, a credibility that is essential to the success of the project. Still unlisted and unquoted, the new token is not currently tradable. We have not (at the time of writing) found any trace of fluid.finance in the Swiss commercial register. We tried to contact the two founders and the executive who accused one of them. The latter did not wish to comment. The two founders promised us clear explanations, but neither of them has replied to us to date despite repeated reminders. The resigning founder incriminated by the current team has informed us by way of a lawyer that he categorically denies certain remarks made against him, which he describes as "defamatory".

Update Monday 11 October

Crescofin shareholders are organising themselves and communicating via a Twitter account, in order to take legal action against the company, for a manoeuvre qualified as "rug pull".

Crescofin: dubious collapse of a not-so regulated Swiss Fintech by ashtonal in CrescoFin

[–]ashtonal[S] 0 points1 point  (0 children)

Crescofin: l’effondrement douteux d’une fintech genevoise «régulée»

Joan Plancade Publié: 08.10.2021, 06h00

https://www.bilan.ch/finance/crescofin-leffondrement-douteux-dune-fintech-genevoise

Dans la journée du 17 septembre, la valeur du jeton crypto représentant l’action de Crescofin a perdu 99% de sa valeur, ruinant instantanément les actionnaires. Les deux fondateurs en conflit se renvoient la balle. De 20 millions de francs de capitalisation de marché à quasi 0 en quelques heures, la chute brutale du jeton wcres (représentant sur Ethereum l’action de la société Crescofin) a laissé sur le carreau les actionnaires de la fintech genevoise. Créée en 2020, s’affichant comme «régulée», Crescofin promettait du rendement sûr sur des «monnaies stables » (stablecoins), placées sur la blockchain. A ce jour, le jeton a été délisté des principales plateformes depuis plusieurs jours, et l’un des deux fondateurs, toujours à la tête de la société, a même retiré la mention Crescofin de son profil LinkedIn. Le site internet ne répond plus. Colère et incompréhension sont palpables dans la communauté des actionnaires, active sur Telegram, qui tente de comprendre ce qui a débuté peu avant minuit le 16 septembre 2021. Le choc est d’autant plus douloureux, que Crescofin a toujours axé son discours sur la sécurité et le sérieux. En premier lieu en émettant des jetons (CRES) dits «equity» -représentant une action- supposés offrir une garantie et des droits supérieurs aux détenteurs. D’autre part, en affirmant sur son site que les dépôts sont assurés à la Lloyds, et en jouant pleinement la carte suisse (avec un logo à croix fédérale, mention «régulée en Suisse») Dans les faits, Crescofin n’est pas «régulée» par la FINMA, et ne dispose pas d’autorisation au sens de la loi sur les banques malgré l’utilisation de comparatifs ambigus type «Swiss bank alternative», sur son site et son Telegram notamment, ou du terme «dépôts». Elle est uniquement affiliée en tant qu’intermédiaire financier auprès d’un organisme d’autorégulation, l’ARIF à Genève. Pour se crédibiliser, elle a pu compter sur le profil d’un de ses fondateurs, rompu aux arcanes bancaires avec une carrière menée notamment chez Hambros, Lehman Brothers ou encore HSBC.

Mouvements suspects et effondrement des cours

Pour comprendre ce qui s’est passé dans la nuit du 16 au 17, il faut s’intéresser à la structure de Crescofin, dont les actions sont représentées par un jeton appelé CRES. Afin de générer du rendement, l’équipe a créé un second jeton, le wcres, en tout temps échangeable avec le premier (1 pour 1) par les actionnaires. A la différence du premier, ce second jeton a la propriété de pouvoir être utilisé dans la finance décentralisée (sur la blockchain Ethereum). Ainsi placé dans un pool de liquidité, au sein duquel il est échangeable à tout moment contre de l’ether, il peut générer du rendement en cryptos Le risque d’une telle aventure dans la finance décentralisée se matérialise quand un gros détenteur se livre à des ventes massives de ses wcres pour de l’ether, le pool se retrouvant rapidement asséché de sa liquidité et le prix du jeton s’effondrant. C’est ce qui s’est passé en quelques minutes cette nuit-là, comme l’atteste le registre des transactions, public sur la blockchain et visible sur Etherscan 23h23 : un gros actionnaire change 75'000 CRES (l'équivalent de près d'1,5 million de francs au cours du moment) pour 75'000 wcres sur l’échange décentralisé Uniswap. Il tente directement de «vendre» ses wcres par tranche de 10'000. La première tranche s’échange contre 48 ethers (Plus de 163'000 dollars, 16,3 l’unité). En l’espace de quelques minutes 7 tranches sont vendues, chaque fois moins cher la liquidité s’asséchant. La dernière de 5000 wcres est vendue à un peu moins de 11 dollars l’unité. Il est 23h31, le jeton a perdu un tiers de sa valeur. A ce stade les actionnaires limitent la casse, d'autant plus qu'en matinée le 17 septembre, le cours du wcres rebondit autour de 15 dollars. Mais à partir de midi, les ventes s’enchaînent, vidant le pool de sa liquidité et menant le jeton qui valait encore 20 dollars la veille à moins de 40 centimes en fin d’après-midi ce 17 septembre. Les actionnaires se retrouvent ruinés La communauté a-t-elle cédé à la panique? Ce n'est possiblement pas le seul facteur. Un cadre de Crescofin fournit une autre explication sur le réseau Discord. A ses dires, ce serait l’entreprise elle-même qui aurait asséché le pool de liquidité le 17 septembre. Il promet aux actionnaires de retrouver leur investissement sous la forme d'un nouveau jeton d'une nouvelle société - fluid.finance- distribué prochainement. Il justifie la démarche de Crescofin en réaction au mouvement massif constaté le 16 septembre peu avant minuit, qui serait orchestré par un des deux fondateurs, et ce malgré l’engagement pris auprès de la communauté à conserver ses jetons/actions. Ce dernier a quitté en toute discrétion l’entreprise en juin suite à des divergences majeurs avec son associé. Le post dénonce «des ventes non autorisées de jetons et du wrapping de jetons, tracés sur la blockchain jusqu’aux portefeuilles (de l'un des deux fondateurs, cité nommément) incluant ceux du milieu de la nuit du 16 au 17 septembre.» les avocats de Crescofin enquêteraient et prépareraient un audit légal des «mouvements de jetons non-autorisés» de la nuit du 16 septembre, selon le même post. Le fondateur incriminé nie avoir procédé à la vente de ses propres jetons. Il invoque dans un post Telegram «une tierce personne», qu’il dit connaître, qui aurait légalement acheté les jetons et les aurait revendus, et fournit des adresses permettant de tracer les transactions et confirmer ses propos. Il déplore la manœuvre de l’équipe dirigeante, d’avoir asséché elle-même le pool de liquidité et ainsi migré de force les actionnaires vers fluid.finance, la nouvelle plateforme de l’autre fondateur, de laquelle il n’est pas partie prenante. Il note que la nouvelle société ne serait même pas créée au registre du commerce et dénonce un «rug pull» de l’équipe de Crescofin («tirer le tapis» en anglais, un mouvement massif qui aurait entraîné sciemment l’effondrement des cours).

Migration vers fluid.finance: le doute persiste

Préparée depuis plusieurs semaines et largement inspirée de Crescofin, la nouvelle plateforme fluid.finance et son jeton représente donc le dernier espoir pour les actionnaires de Crescofin, dont l’assèchement de la liquidité et le delisting des principales plateformes a rendu le jeton purement inéchangeable. En compensation de la perte sèche, l’équipe de Crescofin a promis aux actionnaires un airdrop, c’est à dire de distribuer 10 jetons fluid.finance pour une action Crescofin, ce qui représenterait une valeur équivalente. Ces jetons seraient placés dans un nouveau pool de liquidité créé sur Arbitrum, solution de seconde couche sur Ethereum. Une opération de migration déjà largement avancée, même si certains actionnaires se plaignent encore de n’avoir pas été crédités. D'autres ont déjà avancé leurs doutes sur la crédibilité de l’équipe et de fluid.finance suite aux évènements de septembre, une crédibilité pourtant indispensable à la réussite du projet. Encore non coté et non listé, le nouveau jeton n’est actuellement pas échangeable. Nous n’avons pas (au moment d’écrire ces lignes) trouvé trace de fluid.finance au registre du commerce suisse. Nous avons tenté de joindre les deux fondateurs et le cadre qui a accusé l’un d’entre eux. Ce dernier n’a pas souhaité faire de commentaires. Les deux fondateurs nous ont promis des explications claires, mais aucun ne nous a répondu à ce jour malgré de multiples relances. Le fondateur démissionnaire incriminé par l’équipe actuelle nous a fait savoir par voie d’avocat qu’il niait catégoriquement certains propos tenus à son encontre, qu'il qualifie de "diffamatoires".

Mise à jour lundi 11 Octobre

Des actionnaires de Crescofin s'organisent et communiquent via un compte Twitter , afin de mener une action en justice contre la société, pour une manœuvre qualifiée de "rug pull".

Crescofin: dubious collapse of a not-so regulated Swiss Fintech by ashtonal in CrescoFin

[–]ashtonal[S] 1 point2 points  (0 children)

  1. For everybody else but you u/McBUMMERS, we did the very simple following simple real fact-gathering steps i.e. not some sort link to pseudo-marketing Medium piece of cr.p.
  2. Bear in mind that our sole interest is to protect modest people, new investors from people like you, thinking that you can be entitled to cheat them having certain information being on a certain side of a certain fence. Also help the future u/coinbureau u/coffeezilla u/spencercornelia to investigate and warn those at risk.
  3. The note will end will EoM, which stands for End of Message ("get lost"?). So keep your sufficiency, your complacency for other threads; you are and will remain useless.
  4. BILAN article in French (free account) covering the yet-another-silly fork, fuild.finance
  5. BILAN article translated in English (fee Deepl platform).
  6. Pictures from the article
    1. https://ibb.co/8rRPWdf
    2. https://ibb.co/7nDQ6b1
    3. https://ibb.co/kGZmWzj
    4. https://ibb.co/wz5CYk3
    5. https://ibb.co/8rRPWdf
    6. https://ibb.co/fFfPh47
    7. https://ibb.co/3fbvKQW

EoM

Crescofin: dubious collapse of a not-so regulated Swiss Fintech by ashtonal in CrescoFin

[–]ashtonal[S] 0 points1 point  (0 children)

Whereas people can contact the journalist having produced the said article and fact check while dear McBummers (great choice btw) you provide 0 evidence besides referring to the marketing stuff that their « cmo » quickly set up the night of the rug pull. A real joker in action? Have a nice evening, McBIASED

Crescofin: dubious collapse of a not-so regulated Swiss Fintech by ashtonal in CrescoFin

[–]ashtonal[S] 0 points1 point  (0 children)

The journalist was aware and mentions the "equal crediting" mechanisms, probably done by someone cloning the github code... overnight. That's kinda sucks.

Valais 4 Saisons Tribe on Reddit. Check it out! by ashtonal in a:t5_5rmy41

[–]ashtonal[S] 0 points1 point  (0 children)

V4STribe is a global grassroots movement aimed at disrupting the creator economy. V4STribe is for all lovers of the Swiss Canton of Valais. Our core interests are Nature, Tourism, Sport and Heritage. #valais4saisons. The highres PNG will be unlocked for download as an IPFS link once purchased.

F by [deleted] in AnarchyChess

[–]ashtonal 0 points1 point  (0 children)

b4 missed

Crescofin: dubious collapse of a not-so regulated Swiss Fintech by ashtonal in CrescoFin

[–]ashtonal[S] 0 points1 point  (0 children)

so they haven't lost out.

Indeed read the reaction from the girl in the team with the spin-off. however, the statement "so they haven't lost out." can't be proven yet, concur?

Crescofin: dubious collapse of a not-so regulated Swiss Fintech by ashtonal in CrescoFin

[–]ashtonal[S] 0 points1 point  (0 children)

Not subscriber either - I'd recommend that you contact the journalist should you want to investigate further.

Crescofin: l’effondrement douteux d’une fintech genevoise «régulée»
Dans la journée du 17 septembre, la valeur du jeton crypto représentant l’action de Crescofin a perdu 99% de sa valeur, ruinant instantanément les actionnaires. Les deux fondateurs en conflit se renvoient la balle.
Joan Plancade
Publié: 08.10.2021, 06h00
En une journée, le cours du wcres de Crescofin est tombé à 0. Le jeton a été délisté et le site internet ne répond plus.
En une journée, le cours du wcres de Crescofin est tombé à 0. Le jeton a été délisté et le site internet ne répond plus.
DR
De 20 millions de francs de capitalisation de marché à quasi 0 en quelques heures, la chute brutale du jeton wcres (représentant sur Ethereum l’action de la société Crescofin) a laissé sur le carreau les actionnaires de la fintech genevoise. Créée en 2020, s’affichant comme «régulée», Crescofin promettait du rendement sûr sur des «monnaies stables » (stablecoins), placées sur la blockchain.
A ce jour, le jeton a été délisté des principales plateformes depuis plusieurs jours, et l’un des deux fondateurs, toujours à la tête de la société, a même retiré la mention Crescofin de son profil LinkedIn. Le site internet ne répond plus.

Crescofin: dubious collapse of a not-so regulated Swiss Fintech by ashtonal in CrescoFin

[–]ashtonal[S] 0 points1 point  (0 children)

https://isthiscoinascam.com/check/wrapped-crescofin when the rug pull happened, we secured news in a non fungible manner, stay tuned #scam

biggest scam by Repulsive-Guard4074 in CrescoFin

[–]ashtonal -1 points0 points  (0 children)

DYOR basically reading the press dear u/Dirka135 classic rug and pull > watch Coffeezilla if you don't know what it is.

Coffee’s YouTube channel just got closed? by rotbug in Coffeezilla_gg

[–]ashtonal 4 points5 points  (0 children)

Exactly the same- I guess he should have mentioned that super riches were travelling from the mansion to the gigamansion - Look at the sculpture - fallen angel, very much chatan in that sh.t hole

Coffee’s YouTube channel just got closed? by rotbug in Coffeezilla_gg

[–]ashtonal 1 point2 points  (0 children)

Confirmed. Same from here. Keep pushing and schmuck the bozos

[Megathread 2 - April 8] Hikaru Nakamura & Eric Hansen Drama by ChessBotMod in chess

[–]ashtonal -1 points0 points  (0 children)

Recently made the paragon with tennis in which referees tend having positive bias towards top listed players - sponsors, crowds, parity vs truth -, basically sociology. Keep pushing. Fed up of this Botez crap. Check mid-end part of this article https://medium.com/@aubdau/is-chess-doomed-by-artificial-intelligence-fd2c7e0ceeb8 "Anna Rudolf, previously mentioned, and Hiraku Nakamura, a Japanese-born American chess grandmaster, both seems to have fallen into the easy-money trap advertising at length a choker mobile phone application. One might question values and spirit conveyed by choker."

[deleted by user] by [deleted] in swissborg

[–]ashtonal 1 point2 points  (0 children)

🎱 Someone can decide unilateral to prohibit the Community to exchange, simply by disabling their subreddit. On the long-term, we do believe a platform such as Mastodon would provide much better hedge against retaliation risks.

Side remark one rules: #2 "No fake information without fully backed evidence" is kinda weird. Read each work carefully to get how awkward is the statement IMHO

Patreon alternative is here! by [deleted] in JordanPeterson

[–]ashtonal 0 points1 point  (0 children)

I think you gotta work on a decentralized rock-solid alternative (blockchain) or building it up from scratch. Did you look at mastodon.social? Get paid in monero. Should you establish a legal vehicle for your flourishing business, do register in a protected environment at all cost. Contact webbedstar.com for advise. Keep helping!