Daily General Discussion - June 20, 2020

Jesus this seems scammy as hell. Here are some thoughts:

My personal favorite is that a lot of these liens you can pull up on the website date back as far as 2016, despite the company only existing since 2019.

For instance the lien for VIN 700719 is dated back to 07/21/2016 and VIN 107212 is dated back to 12/2016 with "DMM Foundation" listed as the first lienholder.

Weird that they were getting these liens years before the company existed eh?

A lot of these make it look like someone just grabbed a stack on liens and photo-shopped "DMM Foundation" on top of whatever was there. See VIN A38075.

The coinbase partnership thing is silly, look how easy it is to become a "coinbase partner":

https://www.coinbase.com/partners

It's like people saying they are partnered with Amazon Web Services. It's an incredibly low bar. Would be impressive maybe if coinbase was actually working with them in a material way but I can't find any evidence of that.

Also I find it interesting that some of the founders on their website don't even list DMM on their linked-in profiles.

Another thing, it doesn't make any sense that they can guarantee 6.25% interest on ethereum deposits when the liens are denominated in USD. It also doesn't really make sense that they are advertising a stable 6.25% interest rate for USDC/DAI deposits either since interest rates on auto loans fluctuate as well.

"Guaranteed money" is a myth to attract dummies with cash they can use.

Even the name is scammy "defi money maker" oh lord.

If this is the type of crypto project you find yourself attracted to, stop trading. You're bound to bitconnect yourself and lose everything.

/r/ethfinance Thread Parent