Hello All,
Some of you may or may not know that I have extensive experience in blockchain technology, and run several businesses utilizing the technology... with and without smart contracts.
The ethereum address attached to the Q picture in McAfee's instagram... might be a scam attempt from one of his social media guys.
The reason I say this:
Every transaction on mainnet ethereum have been triggering the transfer function on a WHACK'D ERC20 token, sending back and forth with UniSwap... which is a decentralized exchange protocol. Meaning there is a very good chance whoever it is is just trying to earn easy free money off the news.
That being said... it's very weird, and if that address starts processing transactions with signed message data, or anything significant that I see, I will let you know.
But for right now, this looks like it could be the social media guy trying to make a quick buck.
For what it's worth. I don't believe McAfee is actually dead. Something weird is going on behind this, but that ethereum address I think is a bit of a distraction.
QUESTION: For those of us that are cryptards ... how do they (he/she/it) make money this way? Like .. how would a scammer make money off of what we are seeing?
Basically using the marketing of that mysterious picture and then reddit claiming it has an ethereum token attached to it
users will search for said token on the exchange (Uniswap and Unitrade)... and buy it for real currency like Ether.
but they are buying it directly from the scammer effectively (because its a swapping platform).
So the scammer is using the marketing and hubub going on with McAfee to try and sell some useless tokens for real coin.
OK ... how are the tokens 'priced'? For the scammers to make any money wouldn't they have to sell the token for more than they paid for it (in terms of ETH). I get it that they are selling directly. Unless they got the tokens for free.
Sorry or the questions ... I'm just trying to understand, and help others understand.
The tokens or coins are created out of thin air literally just a box that you put a number in and that's how many coins you have. This can only be done at creation however and it will normally be a locked amount but some contracts allow for infinite coin creation. So the scammer in the scenario would have to be a developer or whale with a already significant stake in the coin and wants to see the price increase to cash out. Unlike Bitcoin, tokens built on the ethereum blockchain are not mined they are just created through the software itself.
I’ll keep stacking gold and silver with my hard earned fiat cash thank you….
Tokens and coins are created at the time of issue, then through the 'mining' (block validation) process as a 'reward' to miners for verifying blocks. You can't just go in and say "I think I'll say I have a 1000 Bitcoins today".
EDIT: Is that true??? ETH tokens and coins are NOT mined? Never heard that before, and I've been in the space casually for about 2 years.
The price is set on the liquidity rate supplied by the original supplier on UniSwap
For example, if you supply 1 WHACK'd and 1 ETH, the price of 1 WHACK'd is 1 eth.
me either
Don't they need a 'wallet' to transact these? I don't see anywhere where you can park this shit other than your own personal wallet (like a Nano or something like that) This whole WHACKD thing is completely insane.