Centric Cash $CNS conspiracy! Read this before investing…
Recently, the Centric Foundation has been experiencing a group of FUDDERS who try to manipulate markets through social media. Today, I’m going to outline their claim that Centric is a Ponzi/MLM scam and dispel their knobheaded (amid baseless) assertions about a project they read on a 4Chan thread.
First, we have to outline exactly what a Ponzi scheme is and exactly what the attributes of a Ponzi scheme are as defined by the SEC. I will then state WHY none of these characteristics apply to Centric.
“What are some Ponzi scheme “red flags”?
Many Ponzi schemes share common characteristics. Look for these warning signs:
- 1. High investment returns with little or no risk. Every investment carries some degree of risk, and investments yielding higher returns typically involve more risk. Be highly suspicious of any “guaranteed” investment opportunity.
- 2. Overly consistent returns. Investment values tend to go up and down over time, especially those offering potentially high returns. Be suspect of an investment that continues to generate regular, positive returns regardless of overall market conditions.
- 3. Unregistered investments. Ponzi schemes typically involve investments that have not been registered with the SEC or with state regulators. Registration is important because it provides investors with access to key information about the company’s management, products, services, and finances.
- 4. Unlicensed sellers. Federal and state securities laws require investment professionals and their firms to be licensed or registered. Most Ponzi schemes involve unlicensed individuals or unregistered firms.
- 5. Secretive and/or complex strategies. Avoiding investments you do not understand, or for which you cannot get complete information, is a good rule of thumb.
- 6. Issues with paperwork. Do not accept excuses regarding why you cannot review information about an investment in writing. Also, account statement errors and inconsistencies may be signs that funds are not being invested as promised.
- 7. Difficulty receiving payments. Be suspicious if you do not receive a payment or have difficulty cashing out your investment. Keep in mind that Ponzi scheme promoters routinely encourage participants to “roll over” investments and sometimes promise returns offering even higher returns on the amount rolled over.”
Ponzi Attribute #1:
Centric does not promise “high investment returns” and it surely doesn’t have “little to no risk”. Centric Rise’s price is written to each hourly block, one year in advance, and can’t be changed. This is what determines CNR’s price. The only thing Centric guarantees is that you will receive 1 CNS per $1 CNR. So if price of CNR is $12, you receive 12 CNS. CNS is the liquidity token used to trade on exchanges. CNR is the store of value token that rises each hour. There is a “medium” risk involved since there is a risk of not being able to liquidate your bag. This risk is inherent in every single trading market.
Ponzi Attribute #2:
Centric does not promise “overly consistent returns” on anything. In fact, the value percentage of CNR decreases each month. As of August 2020, it is currently 28.5%. In August 2021, it will be 16%. If anything, this is dwindling returns. But this is CNR we are talking about here. There has never been a promise to make any type of return on CNS. It is up to every investor to make their own financial choices.
Ponzi Attribute(s) #3 & 4:
Centric takes compliance very seriously. Centric follows through with all requirements including registrations and validations. To be listed on exchanges, Centric has also had their core protocol audited by Iosiro.
You can see that Centric passed the Audit with flying colors, and no, the Audit doesn’t “just audit the code”. If Centric was indeed a Ponzi, the Auditor wouldn’t give Centric a perfect score. You can view the audit here: https://iosiro.com/audits/centric-protocol-smart-contract-audit
Ponzi Attribute #5:
Centric has ALWAYS been transparent in everything, especially their core protocol. You can view everything about Centric in the whitepaper here:
You can also view ALL addresses of all holders of Centric Rise and Centric Cash, as well as Foundation Addresses on Centric Explorer. It’s all there, you just have to look. https://explorer.joincentric.com/
If you have any questions at all, you can join the Centric discord where they have admins and mods that know a lot about the project and have answered every question I’ve asked. Join here:
Ponzi Attribute #6. If you REALLY want Centric to send you actual paperwork, I’m sure they would oblige. You would just have to send support an email and ask. Plus, investors are always 100% in control of their investments. Investors can convert & move both CNR & CNS as they please. You can even store both tokens in cold storage wallets such as Ledger Nano.
Ponzi Attribute #7.
Centric does not issue “payments” as they do not promise any “payments”. They do, however, issue tokens based on protocol. If you have X amount of CNR held, you have a guaranteed price value based on protocol, thus you will see a higher conversion of CNR to CNS. To obtain the “payments” of BTC or USDT, you’ll have to sell on the exchanges.
And as always, if you hear someone stating that Centric is a scam or a Ponzi, ask them for proof. Don’t just blindly assume they are correct in what they are saying. FUDDERS like to manipulate people through social means so they can stack their bags. Don’t be a victim of their tactics.
DO YOUR OWN RESEARCH and ask the team either thru Support email or on Discord or Telegram.
-Andras Jai, Centric Investor