The CORE community is supposedly excited because the coins they have been mining on the BTCs mobile mining app will be airdropped to them soon.
While this may sound like good news to the community, it doesn’t mean that they’re about to become rich.
They may just find out that they have been wasting precious time.
CORE Mining Airdrop Announcement – Not a Proof Of Profitable investments.
Although CORE miners do not believe that BTCs mining is a scam, it probably is because
1. It is obvious now that nobody is receiving any Bitcoin (BTC) rather they are receiving CORE tokens which are not equivalent to Bitcoin (not even BTCs, LOL).
2. CORE or the so-called parent chain, Satoshi Public Chain does not have any purpose. So, after users have received the tokens, there is no utility to ensure that the token will keep rising in value.
3. Following the information on the Core DAO Medium page, “the Core network aims to uphold the Bitcoin network by acting like a second BTC block reward. When Bitcoin block rewards dry up in 2040, the Core network will be there to provide rewards for Bitcoin miners as they do the same for Core.”
Even if we are to play dumb and assume that Bitcoin miners can receive block rewards from a different blockchain, it means that CORE miners will wait till 2040 before their holdings will have substantial value. Oops!
4. Initially, the mainnet was to go live in December 2022 but it didn’t happen until January 2023. Since the founding team is not known, there is no one to hold accountable, all you find are different fans providing explanations on Twitter to the best of their knowledge.
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5. Additionally, the need to refer people to earn more, led to many “supporters” claiming to be the best sources of information for CORE.
On Twitter, more than 25 people bear the name, CORE, Core mining, Satoshi mining, Core DAO, Core fans, and the like. All sharing mixed-up information about the app and encouraging the public to register with their referral links.
How can there be a bright future for such an orderless platform?
6. There is no blockchain explorer to verify who has mined what. All users get to see are figures announced on social media pages.
7. The February 8 airdrop will release about 526 million tokens into the market (if it happens), and then what? What will users do with these tokens? Hmm? Your guess is as good as mine.
Also, this is supposed to be 25% of the total supply while the rest 75% will be unlocked gradually over the next two years. Again, to what end?
8. Before now, users were mining hashes of “test projects” on the mining app. What becomes of those projects? Or the rewards?
9. Now, take a look at the first two paragraphs on the announcement page
Please, who are they trying to impress with all this jargon? You?
10. Don’t let us get started with the “validator-cock-and-bull” story in the later part of the page. I mean, what are the validators validating?
Except you are with the Core DAO on this patience game, you might as well roll your sleeves and move on with your life.
Feel free to share your thoughts in the comments section.