Mining for Bullshit: Vid app experience

I ran into @raj808 post where he was mining some Bullshit tokens and it hit me with unwanted nostalgia.

He mentioned Xrweb, a project that I vividly remember investing 0.1Eth into. Back then it wasn't a lot but that's like $160 down the toilet these days.

XRweb still hurts a bit and the project just sits there in their virtual world, talking some crap about staking land. Sadly, this wasn't even my worst experience during the ICO phase; that title is set aside for VI Coin, the shittiest of all shitcoins I've ever "invested" in.

It's safe to say that the ICO phase wasn't kind to me. Nope, not by a long shot and one project that got me real good was Vid.

I remember throwing 0.3ETH at this project that I thought would have made me a billionaire by now. That's like $550 down the toilet in today years.

So I got approached by a customer to write an article about this VID project. Naturally, I do in-depth research about the project and after I got done, I decided to invest a bit of my own money as well.

VID was supposed to be a very advanced video content creation platform. The app promised an AI that will track motion and automatically sync video collages to the background music you use.

The ICO was smooth as they come, with a minimum buying of 0.2ETH. I bought in with 0.3ETH and after months of waiting, I finally got my shitcoin in my metamask wallet.

After claiming the first drop, the VID coin sent to my wallet turned out to be useless because the Vidcoin only makes me eligible for VI coins.

VI coin comes through and it is worth $80 dollar. That was marginally less than my initial investment, so fuck that, I'm hodling till at least $20k. You know how it goes.

VI gets listed on KUcoin and the shit goes on overdrive. For a brief moment, my shitcoin value peaked at $200 range and then tanked to the abyss.

The next thing I know, VI is delisted and taken off KUcoin, BUT, they also got hacked, so my coins are now in limbo, as the exchange tries to sort out their feet.

So after paying the annoying gas fees on ETH to move it to Kucoin, I now move it back to my Eth wallet, get nothing and only lose a little bit of my dignity and respect for myself. Now I just have to watch and enjoy the show, as fudders go wild in the telegram.

Ah yes, the telegram, how could I forget that? Matter of fact, even prior to the telegram, there was the "cringfluencer marketing" part where they basically paid some video content makers to say nice things about the app. None of those assholes ever used the app 😑.

Okay, back to the telegram, and my first red flag. I think a project's Telegram channel is the best fraudometer. One hour in the place and you'll know if your funds went down the toilet or not.

Initially, it was a free for all, with people having the freedom to interact with the designers. When the shit approached the proverbial fan for impact, the room got new restrictions because fudders weren't having any of it.

Then an unofficial channel is created for fudders to whine and if you're lucky, some random account using the logo as a profile picture would respond to calm your nerves.

Outside Telegram, the actual product that was advertised by their talented Singh brothers that, according to the ICO, had raised millions of dollars for "different companies" is glitchier than a crack head experiencing withdrawal syndrome.

The first release of the app was glitchy but at least it worked. The subsequent release, a few days ago, as I found out today, barely even works.

There's a moral lesson here and if you ever figure it out, please share it with me. All I can say for sure is that I'm not going to be participating in any ICO anytime soon and I'd have been happier investing that money into BULLSHIT.

Posted Using LeoFinance ^Beta