Tuesday, 26 February 2019

Warfield (aka Golder Games) – follow-up

Time to check up what has happened to Warfield after I posted my review of the scheme in July 2018. I finished my review by concluding that in my opinion Warfield was a scam and not to be trusted. Well, where are we now?

A lot of bullshit in this field

According to the roadmap that was used to marked Warfield during its ICO phase the game was supposed to be released on App Store and Play Store simultaneously on 15th February. Of course that didn't happen.

On 15th of May 2019 the game is supposed to be released on Xbox and PlayStation. That won't happen either. It was just a bogus claim the team made up to sell the ICO to gullible investors.

The roadmap of Warfield (click to enlarge)

Recently the official Telegram group of Warfield/Golder Games was made inaccessible. This happened soon after the Telegram group of Miner One was cut off. Miner One was a Bitcoin mining related ICO launched prior to Warfield. At least some of the people behind Warfield were also involved in Miner One.

Warfield team members: 
Andrius Mironovskis - Founder & Team Leader
Donatas Kanapickas - Chief Developer
Rimas Puriuskis - Operatins & Co-Founder
Alkas Aleksandravicius - Lead User Interface Designer
Julius Serenas - Server Guru & Wizard
Dzianis Kuchynski - CCO
Ovidijus Sudzius - Business Development
Tom Frisina - Executive Advisor
Benjamin Tershana - Marketing & Business Development Advisor
Adalberto Bruno - Technical Advisor
Dylan Sharkey - Commercial Strategy Advisor
Darius Udrys - Brand & Business Development Advisor
Quyen Nong - Marketing Advisor
Jonas Udris - Corporate & Legal Advisor
Andriy Sharanevych - Networking & Connections Advisor
Scott Shirley - Professional Player & Game Tester

Warfield also ceased publishing on its official Facebook page. The last post has been published on January 25. It was about a contest that was supposed to have winners announced on 19th February. However, the winners were never announced, although it would had been very easy since there seems to be only one person who bothered to participate.

... Anyway, congrats "CryptoZombie":

Not much to hype about anymore. Traffic to warfield.com declined rapidly after October 2018.

Goldergames.com – I guess no one cares no more.

How much for a Golder?

You forgot to add "for gullible people" at the end.

On November 26th 2018 the team announced that Golder was tradeable on Coinbene exchange. Quoting: 
"This fulfils Golder Games’ promise to literally let players make money playing video games!"

Before Warfield cut off the official Telegram Group I noticed there were some alarmed Golder owners who were dismayed about the low value of their possessions. Apparently there wasn't much interest towards buying Golder, whereas anyone possessing them was eager to sell. 

I decided to try to have a chat with Darius Udrys who's the Brand & Business Development Advisor of Warfield and also one of the admins of the Telegram channel. This was after I had noticed him urging members in the channel to lure more people to invest in to the game:

Besides cutting off Telegram and Facebook the game doesn't seem to be available for playing anymore. I guess this is it then.

– Sure you are. I guess the release on Xbox and PlayStation is taking a toll?

Tuesday, 12 February 2019

Miner One follow-up – An operation safe to fail

Time to review what has happened since my last post about Miner One.

Initially the company was supposed to start a mining farm in Luleå, Sweden. The marketing of Miner One was painting a picture of certain future success as "The World's Biggest Crowdfunded Crypto Mining Operation" that was going to operate in Sweden. According to Miner One's marketing pitches and white paper the location in Sweden was somewhat ideal for Bitcoin mining because of the moderately cool climate and cheap electricity available in Luleå.

To further build up its credibility Miner One published videos and other material to make it seem that the company really was about to start a mining farm in Sweden.

A letter of intent of renting facilities in Luleå.

Sweden, Sweden, Sweden. A screencap of Google search results of Miner One's Sweden related material.

Despite Miner One continuously used the location in Sweden in its marketing pitches prior the launch of ICO and even during it, the mining never started in Luleå.

Despite not operating in Sweden, Miner One had this on its web page for months, also while it was already operating in Lithuania. The label was removed only recently from the website.

Criticism not accepted

I had already found out that Miner One was not willing to answer any questions about using a blatant lie in its marketing. This was something that a legitimate business simply wouldn't do so I didn't find Miner One trustworthy at all to begin with.

In order to follow what's happening and to get the latest news I had joined the official Telegram group of Miner One. However, I was soon banned from there for no good reason. Apparently the company doesn't handle criticism too well, which alone should be considered a major red flag – in addition to all the false marketing (which also went as far as blatantly lying).

However, I managed to find an unofficial Telegram group of Miner One investors, which was actually a much better channel to get proper information about what was going on.

Mining started but failed – investors dismayed

I was actually surprised when Miner One eventually really did set up a mining farm of some sorts.

Instead of Sweden a location in Lithuania was selected. All the speeches about green energy and the ideal location in Sweden were forgotten in an instant.

Instead of proper facilities for a mining farm, shipping containers were chosen.

Anyway, there must have been great anticipation in the air among the investors of Miner One. – At last money was going to start pouring in!

According to the original plan the mining operation was supposed to start in July 2018, instead mining began in late August. A payout was made on Aug 31 from 770 miners operating for 10 days. There were also payouts for September and October. In total, these payouts came to about a 0.1% return. Mining ceased around November 20 due to the costs to mine exceeding the value of BTC mined. (This chapter was edited on 15 February according to the post in the comments section of this blog post.)

Miner One's white paper was pretty much guaranteeing incomes due a "cushion effect" the company had planned. That means that even in the case that the value of BTC drops, investment in Miner One can still generate returns. What could go wrong?

In reality there was no cushion effect and the income generated to the investors was a fraction of the sums they had been expecting. They were dismayed to find out that by the rate the mining was generating return of invest it would take even tens of years to get the invested sum back. I guess at that point most of the investors considered their money lost.

Considering the lousy ROI the miners were able to generate per investor, I don't think it would matter much even if the value of Bitcoin would double. At the best it would maybe just double the sum of pennies made earlier. – So no lambo!

The World's Crappiest Crowdfunded Crypto Mining Operation?

The mining operation might have been profitable at least for the company to get it going for a month or two. However, according to the information I have received via Telegram, Miner One was forced to shut down its miners soon after starting them due the huge decrease of Bitcoin value in the late 2018.

During these recent two months the investors have been more and more agitated about the situation and demanding proofs that the alleged mining equipment actually exist and presenting criticism towards the company. From what I have read from the unofficial Miner One Telegram group, there are many people who have invested thousands of euros to this scheme and understandably worried about their investment. Many of them already consider their investment lost.

There also doesn't seem to be much trust left towards the company. It doesn't help that even the most trustworthy supporter of Miner One among the investors has been kicked out from the official Miner One Telegram group. I guess he was just asking too many questions and presenting criticism while the company refused to show requested transparency and to share information.

This was recently posted on the unofficial Telegram channel. Word "hater" mentioned there at the end. Funny thing, I don't remember legitimate businesses ever talking about haters. What comes to FUD (Fear, Uncertainty, Doubt), I believe Miner One has always been all about uncertainties and doubts. Fear? I think fear is only a natural reaction of an investor who finds out that he has invested in uncertainties and doubts.

There hasn't been much news what is going to happen next. Pranas Slušnys has been implying about moving his shipping containers to another location where cheaper electricity would be available. Apparently Ukraine is the next target. 

The latest newsletter of Miner One tells us: 
“I take the relocation process very seriously, as the equipment has to be transported in unfavorable weather conditions, and there is no room for doing a show. I am going to the Kharkiv region in Ukraine myself to oversee the assembly process. The relocation was critical, as the electricity prices in the Baltics have increased since January, 2019, and our current supplier was unable to fulfill his obligations to deliver us the price that we have agreed earlier in 2018” – says Pranas Slusnys, CEO of the Miner One project.

Meanwhile the useless miners are kept in the shipping containers – or is there only one container? Who knows? The life span of a Bitcoin miner is relatively short so each month is like equal to one year in dog years, and 12 months equals a dead dog, so to speak. Hence it shouldn't take long before all the alleged miners would be scrap metal.

I personally think that this was already the end of the operation. No point dragging this on. From what I have found out just recently the official Telegram channel doesn't respond anymore to inquiries. Strangely Miner One has also deleted all posts from the official Facebook page that were posted this year. Among other things those posts were somewhat related to the issue of moving the mining farm to another location.

So Miner One became Minor One just as I predicted and now it's about to vanish.