Ergo is a scam. No seriously, hear me out
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- Опубликовано: 5 фев 2025
- Ergo is a newer cryptocurrency project that aims to provide a secure and scalable blockchain platform. But with so many scams in the cryptocurrency world, many people are asking: Is Ergo a scam? In this video, we'll be taking a closer look at Ergo, its technology, and the team behind it to determine whether it's a legitimate project or a scam.
#ergo #gpumining #cryptomining
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No. Seriously. This is the most uninformed media I've seen lately and that means a lot in the climate we are in.
Anyone that freely spreads lies about other projects in order to scare off people doesn't deserve an audience. I guess someone that has a video titled ''When kaspa moon'' would do such a thing. Ergo is miles ahead of every other PoW chain, get over it.
our opinion of what we deem a risk factor is neither trying to scare someone off or telling them to have the same opinion as us. If you are going to quote a title of one of our videos actually watch as it a clear poke at influencers who do that crap.
@@CoastalCryptoMining My point was that you're clearly biased towards Kaspa, which is fine, but don't go on bashing other PoW chains as Ergo is not what you're making out to be, especially when your arguments were wrong to begin with.
People may have different opinions, but clearly judging by the comments of your audience they were influenced by what you said. On top of that you seemed to be encouraging them when they commented that they ''sold'', which I doubt they did, if they ever held any. It just sounds like an attempt at spreading FUD, which is lame.
@@CoastalCryptoMining I really do hate how RUclips basically forces content creators to utilize clickbait titles if they want any chance at engagement. I get it.
I would really enjoy seeing you on HashItOut, if you feel compelled to hop on the podcast. I think it could be a great discussion, with your background in various PoW projects and Ergo’s design choices.
@@CoastalCryptoMining lmao you are the one who made such aggressive statement
That is certainly true for evm systems, especially with closed source code. Even when the source code is open, having 90% of the tokens and governance controlled by a central entity lends itself to these types of changes and rugpulls.
But ergo's smart contracts are of a different nature; it's not a virtual machine, it's sigma protocols. The code is all open and this person could audit it if wanted to, but that does not suit his motivations.
The emissions and total amount are known ahead of time, just like for Bitcoin. Does that mean that Bitcoin miners aren't mining Bitcoin?
Having the supply be known vs being printed are two different things.
they are sweating reading your comment bro. dont be too technical. Ergo is just years a head its competitors.
Orchestrated FUD by salty ETC hardcores again? Already that time? Guys, in crypto there is only one thing to consider: DO YOUR OWN RESEARCH, look at the community, the transparancy and the pathway and dont listen to neither me nor some random anon that posts shit via youtube as hundreds of thousands of others do all day long. Hope the best. By the way.. Ergo is amazing and Ergo miners are highly respected in the community. Cheers, njoy your day.
none of what was said in this video was FUD, its an opinion. you are entitled to disagree with said opinion. either way still does not make it false
@@CoastalCryptoMining Then i hereby genuinely disagree with two random youtube guys with a fake villa and a doge label covering their respective backgrounds while talking about a peer-reviewed and fairly distributed project. Cheers, njoy your day.
@@YannickWende_wehow do you think line 60 of the new Oracle shell script could be improved? I'll wait.... Till you learn how peer review REALLY works in open source. My point is most likely going to go WAYYY over your head though.
GZ.
this guy has no idea what his is talking about. lol
just a guy on the internet, living life
The community voted to change the emission smart contract, this was voted on and decided by the miners not the DEVs... your completely flawed with your argument, The devs can't change anything without the pools that do the voting, if the miners leave ergo ergo is dead, there is not difference between other chains, Ergo is not a scam, Don't use a dumb click bait title. No there can't be a rug pull because the devs don't hold custodian ship of the tokens they have a very small percentage of the liquidity, you honestly should change the title of your video to Ergo FUD or ergo white paper discussion, Not ergo is a scam the emissions smart contract is built into the code that takes a percentage of the block reward to its difficulty schedual there's a chart that tracks this, the devs cannot just get the unmined tokens unless blocks are found, there has been over 6 years of work with hundreds of developers into this network, get your facts straight, you litterly say at the beginning that you don't know and I don't know, so before making this click bait crap to try pump your flux and pull miners to your largest bag, take a moment to consider that your content is harmful to your channel also your credibility and also bad for the crypto industry and the community, Ergo is not a scam, blocks must be found in order to get a block reward and build the currency.
Fully agree well said👍
Lots of misinformation. That's what happens when you think you know about a decentralized project, but in reality you don't.
Lots of misinformation.
You seem like a reasonable person, but calling a completely open source protocol a scam when they haven't scammed anyone is not fair. Anyone can go in and verify the code, search for any backdoors or weird stuff with the emissions. As for devs changing things; I guess they have to. Otherwise the protocol would not be able to improve. But I understand your concern.
Only thing that annoys me with Ergo is the whole ETC twitter account takeover. That was unethical IMO.
All I am saying is it takes one bad actor, With the ETC Twitter drama i personal feel they showed their hand.
But that’s simply not true. It doesn’t take “one bad actor”. It takes supermajority (90%) of the hash power of the network, which is what EIP-27 had to reach to trigger the update. I’m not understanding how you are making the leap to thinking any dev can push a change into the emissions contract and suddenly the entire network is compromised.
All i am saying it is shocking that you have 2+k subscribers .. totally misinformed , speaking about a decentralised blockchain and mentioning in the same line a social network handle .@@CoastalCryptoMining
@@desiiignerrr hi, Ergo was allocated 96% to the public and 4% to the founders. The Ergo Foundation couldn't manipulate the price even if they wanted to, because they don't have enough ERG. Also, if they were to manipulate the price I think they would move the price up and not down, since moving it down also makes them poorer. What you're experiencing is simply the free market doing its thing.
The amount of lies and misinformation in this video is beyond alarming. Seems like two people salty about price action. Tough to stomach.
nothing about what i said in the video other than maybe a click bait title is a lie. ergo the coin or token depending on your point of view is sitting on an emission smart contract. There are risks.
I don't see your point, you can run your own node and choose not to run the software superimposed by the devs. it's not like ETH where no one can run a node because it's so expensive.
If there's a change to the emission/re-emission contract it has to be voted on and hard forked. It's first submitted as a proposal then the devs work on it.
It was done before with the introduction of re-emission contract and it was voted in because it benefited the miners.
Clearly you lack understanding and you're already front-running the corrections and dismissing as all as "angry ergo community", but we're telling you ergo is nothing like the scam rugpulls ETH has produced over the years.
LOL, zero clue and 100% click bait.
If you say all ERGs have been mined, show me which wallets they are in. Oh!, what a surprise, there isn't.
Who hurt you?
as stated in the video, the token is sitting in a smart contract not a wallet. according to ergo it was never premined, however it was preminted
@@CoastalCryptoMiningOh, and it's a coin.
@@alangeisse Who hurts you? I'm dead :D
actually,its like the real mining. all the minerals stays underneath until we dig them all. ergo stays in a contract and we mine them out instead creating them from nowhere.
By definition, mining process also serves to verify and validate transactions, securing the network. The coins are rewarded in the process, regardless from the block creation (BTC) or from the smart contract (ERGO). Heard of BTC inflation bug in 2018? that's what happens because of the exploit with the former block creation mechanism. And what did the dev do? The dev fixed it by altering the code. So don't tell me altering the code is only issue for Ergo. Take a chill Safemoon, shitcoin shillers
The title is pure defamation.
everyone is entitled to their own opinion
You're error is in thinking a smart contract on EVM is comparable to smart contract on Ergo. Apples to Oranges.
On Ergo a SC is actually called a guard script.
Guard scripts actually protect erg and tokens at any given UTxO.
I understand the confusion but you simply don't understand some key points. Not to say Ergo is perfect, but Ergo isn't how you describe it.
Anybody could have proposed the EIPs thus far. Still required supermajority (of miners/hashpower) to pass & be implemented.
Ergo's biggest weakness is the community can become a cult
-like echo-chamber.
We should have predicted and prevented the DAA fiasco. The Charle's & ETC twitter drama was not 'Ergo', if it was they would have at least had the community vote on the issue.
Ergo is not a scam, Ergo is Ergo- for good and bad.
this by far has been the best and most compelling response we have gotten on this video.
FUD presenting wrong facts...someone didn't do his research. DOWNVOTED
the concerns i bring up in our video is not FUD. Ergo is sitting on a smart contract that is 100% fact
“Ergo is a scam, because…here is our project” lol, dude get lost.
we are lost, show us the way
@@CoastalCryptoMining sewer
I am all for listening into different perspective and no way consider myself a maxi to any crypto. But this video is straight clickbait.
thats the joke
@@CoastalCryptoMiningyou are the joke
Have you addressed your concerns with the Ergo Dev TEAM?
That would be a great place to start
They provided an invite to their podcast to discuss. Just need to find time to accept.
@@CoastalCryptoMining still waiting for your presence at the podcast… will you do it?
@@BlackShdw_444 this guy reacts within 10 minutes to my reaction on this video and then comes up with the no time excuse hahaha. But the biggest joke is they take him that serious to invite him.
Sorry but $Erg doesn’t need you
we never said erg needed us. we for sure do not need erg
Please note that Bitcoin does not do emission by smart contract, and they had an inflation bug. If a crypto has smart contracts, it is no more or less secure to use smart contracts for emission compared to what Bitcoin does. You're misrepresenting things.
kushti is my lord and savior
sounds interesting
Confirmed time to buy erg when people start calling it a scam
a slow rug is still a rug
@@CoastalCryptoMiningno way you just said that about ERGO 😂
Biggest scam is you let people think this is worth watching it, what a waste of time. Never heard so much vague blabla and no im not an ergo fanboy just a blabla hater
Ergo is one of the most innovative blockchains ever built, eUTXO, storage rent, NiPoPoWs, ASIC resistant mining, sigma protocols (zero knowledge proofs natively to the blockchain).… security and decentralisation of Bitcoin, with smart contracts like top L1s … and you call it a scam because “mining emissions is pre-defined by smart contract!?”…. Disappointing video
Thanks for sharing
Bro you are misleading weak people, be very careful with what you say, before criticizing think. Now that you said bad things about ergo I'm going to exchange ethereum for ergo for me this project will go very far and I have more chances of doing 100x or more times.
all we have seen is week people defending Ergo
@@CoastalCryptoMining The weak criticize the strong defend.
Disagree very strongly with this video.
Agree to disagree
You keep saying "they" to refer to Ergo. There is no "they." There's a foundation, a community, and miners. Separate entities with overlaps. Miners control the network. Anyone on Earth can propose changes to Ergo but nobody can make the miners implement the changes.
They are the devs who have control of your ergo
I bought more ERG after watching this
NFA
Gonna post this video when ergo is mainstream
yes please do.
lol this is so wrong
so wrong it feels right.
The twitter account has been deleted, ending that saga completely.
ruclips.net/video/qRceZ-SSeTE/видео.html
Yay one victory at a time
ICP will be the Amazon of crypto ;) , only project that allows you to build on chain
why would anything want to say they are the amazon of anything. I thought crypto was supposed to be decentrialized. Amazon clearly a centralized giant who rips off its customers in one way or another. but hey that prime delivery is right to your door.
Mining is never usefull work. It is wasting energy to slow down the possibility to find a block and make 51% attacks expensive, not even impossible, just very unlikely. Nothing else.
I don't know if the smart contract can be changed by the devs without a soft or hard fork. I don't think so. They changed it at least one time and it needed a soft fork.
Smart contracts can have bugs like the blockchain software itself. I don;t see any bigger problem here than any blockchain can have. If the coins are existing or made out of thin air does not matter. It is just a number somewhere on the chain. ^^ Even the Bitcoin devs could increase the rewards at any time. If the pools deploy it it is the new law. ^^
Devs have tried to spilt bitcoin and it became another chain all in itself. Same can be done on ergo.
stop the lie. That is why you only have no subscribers
This video is from a year ago, sorry you’re so uninformed and just catching up to this.
Nice try...
we are try hards
How Am I a scam I picked this name cuz I thought there was nothing else with the name ergo
we dont make the rules, we just provide our opinion around them
How much do they pay you to do this video? Are you really hungry?
The thumbnail says it all😅😅
Right!
You lost me at "there are too many words on the white paper"
words can be hard, even more so in numbers
Did you just poopoo a coin because you couldn’t muster the intellect to understand their white paper. 😂😂😂😅. … you realize “ i read it and it’s BS” is not the same as “ i read it and couldn’t follow along” are not the same thing. You just lost all credibility. Please sit down.
I was sitting down in the video if you actually watched it. These comments coming from a guy who is watching a video that’s a year old. Just like a female dwelling on the past. Let me know how that works out for you
@@CoastalCryptoMining I was warned not to argue with fools. And you’ve shown your credentials. Read your comment section. Good night 😴💤
You literally have dove coin as your background and your complaining about erg being too centralized. They all have vulnerabilities, doesn’t mean it’s a scam. Title is misleading and false
says the guy with an anon user name.
I think you should study the paper thoroughly before making any conclusions. You are being nonsense.
the white paper is clear. I dont understand the confusion, all it takes is one bad actor and this project is done
如果ergo是騙局，那可能所有加密貨幣都是...
You never know
两个傻蛋
I
Am
Just
Here
For
The
Comments
I think you are right about Ergo. It's a dead coin now.
Definitely concerning, idk about dead. I think it’s just timing in the market right now. Everything feels and seems dead
Ergo devs with ego? "Your ego goes negative when you talk to Alex Chepurnoy"
-Charles Hoskinson
Charles is a hypocrite and one of the worst people in crypto
@@CoastalCryptoMining suuure, whatever you say mate 😹
Thanks for the info 🙏🏻
No problem 👍
Misinfo*
Such obvious bias. The only question is the motivation. Fear or Greed most likely.
Was motivated by your mom to make this video
It feels good to be right @@CoastalCryptoMining
It feel's good to be right @@CoastalCryptoMining
Great video. Very few people consider attack vectors or vulnerabilities. Very important for risk management.
thank you
are you going to kiss his ass?
Dang... Hoskinson's PR rolling hard in the comments. Haven't seen em this riled up since they had to defend the Eth classic twitter scam. Well, maybe the incompetence displayed in their difficulty disaster last year. Not much to defend on that one though. Appreciate your honest opinion and insight, Coastal👍👍
You probably don't know the whole story behind the twitter drama, but it definitely wasn't a scam. As for the difficulty issue, it was working as intended, but it's true that it wasn't efficient which is why miners had a say on the matter and it was promptly changed in EIP-37. Not much of an issue.
EIP-37 was more of a bandaid then a fix. it barely addressed the issue at all.
@@CoastalCryptoMining if you were hoping for profitability to be the result of EIP-37 then you are asking for too much. Blame Ethereum merge for creating too many mouths to feed, simple as that
pretty eye opening. i am guilty of being ignorant to these facts of the WP. thank you for bringing awareness to this
just trying to help.
You're unaware of these "facts" because they are not facts. For example the emission contract can NOT be altered, and certainly not by the team. A re-emmission contract was added on top of the original emission contract to extend the effective duration. You could argue the tokenomics were changed, but even if that were the argument being made, it was a decision made by MINERS, showing greater than 90% consensus. Because Ergo is for miners and completely controlled by miners.
Wait til you discover that Bitcoin's emissions can be altered as well 😳.
@@CoastalCryptoMininglmao what a clown. Spreading misinformation. Shit video
@@digdug008 Shhh, don't tell them
All of my mined ERGO is safely held in BTC now. Some projects you believe enough in to HODL the coins, others you just mine for Bitcoin.
This is the way.
I just sold my Ergo bag a week ago. Got tired of their project...
this is appearing to be the trend
Sold at the bottom of a bear market like a true degen.
@@CoastalCryptoMining The trend? The majority of the responses called out your misinformed FUD and a couple people said they were selling. Hardly a trend.
Thanks for being my entry liquidity
sold at the bottom...subscribing to channel like this...damn dude you are smashing it..100 % wrong but thanks for the laugh