Deceived about Credits / Gems pass on small investors / GoNetwork second review
Hello, everybody this is a beautiful. Day in this new, scenario I choose for this video because, this it's, sunny day you know it's not nice day so I said like Hawaii I'm going, to stay on my office just, there in a in a dark. Corner so, I'm, here my name is Sergio if you already been in this channel, you know that I'm, doing, reviews. About icos about, crypto. Coins and yeah. Blockchain, in general so I'm. Going to speak, about credits, credits oh my, god credits, what have you done I mean what a disaster, I now. Have the total confidence that those guys have no, competence, neither, on communication, either on technical, side, I mean, they have not enough competence, to. Do what they are saying they want to do and on the paper credits, looks amazing. On the, paper is an amazing, project I love it but. Hey. How, are you able to do it really, first. They publish the alpha so they wanted to publish an alpha day delayed many times and at, the end they decided to publish it like. Some. Hours before the crowd so so, everybody. Was was, happy about that okay, so they publish it they, allow. Us to look, into it some hours before investing. Into the project really, very short time in, any case I started, to look into it and I, realized, that, tax. Transactions. You, can create one wallet you can create a second wallet but a transactions, you are making between one one wallet and the next one is, not going into the blockchain because, there is a monitor, and there is a wallets interface and in the world trance interface, you can make the transactions, you can create the wallets pour in the monitor that is some kind of ethers, kind of application. You should be able to see the transactions, but those were not happening apparently. After some time it started to appear or something like that but, when I tested myself it was not a prank then, there. Was something else now there's somebody and in. My in my group around, me that cop that told me like hey Sergio you know look. At this you. Know how they are creating their the, private, keys so. This code they are creating the private, keys if. You are not a, savior, on on. Computing, a development, on the software development you maybe not want, understand, exactly what, I'm telling here but, if, you know even a little bit even if you are a. Rookie. On on, development, you, will understand, that this is, horrible. This is horrible, okay so this hold you are creating the private keys the, private keys is what holds all the, value inside a wallet so. They are doing and be sank md5, algorithm. They, are using md5 algorithm. There is an updated, al going on. Cryptography because there is rainbow tables and it's possible, to reverse it there is collisions, is a horrible, algorithm, to do what they are.
Trying To do here so they are creating, the private, key by doing, md5. On the date so, on the timestamp, so, at the moment where you create the private, key there is a number. Of seconds, since me, what, 1970. This, is the number of seconds on from now to from. 1970. Until now and they are making an md5 over, that so this is a number, that is really easy to to, find because I mean you just look, on the first instruction that a wallet did and you go back in time and. Just write write write and you will find a timestamp. Only was created maybe one one or two hour before the, world was created is enough no like. 120. Min, this back no then. They are using this the same address md5 so this is like obvious not secure, so this part is like okay. And then, they are using a random number. So. This part is the random, number but this is just like a third a third of the of the of the of. The private, key is a random, number another, is a date with the timestamp creation another is just the address key so guys. Come on this. Is not cryptography. There is no expert, on cryptography, at credits. And you want to create a blockchain with, all those, requirements I mean come on guys so. Beside. That the communication, was horrible, they, make mistakes on, the communication, many times like, when they got their. Whitelist. But has been Hackett no like they. Put it on big neuron they pin it on the telegram, group come, on guys come. On this is completely completely, not professional, at all and, you, are rolling and I see oh if you're, if. A telegram account has, been hacked, you. Don't write the telegram. Account has been hacked you say there. Has, been some, some. Data that has been compromised, you don't use the word hack and you don't put it on capitals, and you don't pin it okay you, have to say things in a way that doesn't scare investors, so this was one mistake, the, Alpha is a mistake I mean this this algorithm here is horrible, I mean. Anybody will will. Hack this, you. Just have to wait for some weeks and somebody, will, get hacker all there all the credit so this. Is really, really bad and. Honestly. I'm out of the of the ICO right now they erased the, cap, 29.9. Ether, per, account, I'm not going to invest because. I. Like, to invest on on good projects, I mean I could invest here and just say like okay I keep this information secret. I say, nothing and. Next. Week you, know we make like a photo campaign just. Before we sell everything and then. And. Then the price goes down and we can buy again or whatever I mean I don't want to do that I mean, it's okay it's over I don't like this project let's, look into our next project with check that, they there, is a technical, people. Behind the project that this has really competence. To make it real and be sure to check the prototype, before investing, I'm check, it properly okay. It's important to check it with enough time and to find, information, to parry other people, that have maybe the knowledge. About this particular, technology that you don't have okay, so that's really important, okay, guys so this, is for credits, regarding. The, writing. Of, the ICO is ongoing still, so I like, decided. To still, keep it until, the end of the ICO so I don't, get it, credits. I move. It from alpha, to MVP, okay. Guys no it's not it's not an alpha please. There. Are many many bugs there are many problems still I don't, I don't even like it so. I don't write to MVP, and. Basically. I estimate, that the lounge cannot, be in six months because there is still, much things. To do and if they launch it in six months it will be a catastrophe. So I drunk, read it to 76%. On writing, okay so it's going down from. The top ten to below, that so, that's, four credits that's. All I have to say four credits, regarding. On the project so James for instance James. Made a private a. Private. Cell and, only a private cell so they like. Up heavy, investor, that's. Nice thank you Rory's so, we cannot invest on James it's over, and also just today I had a call. With chung-kai, this is the CEO of go. Network, it. Was a nice talk I mean we just discussed some some. Matters, about their, project about go network and the changes that have been happening those. Last month. Because. I made a review but, it wasn't the the, first time they published a white, paper so, things, have happening, Oh since. Then and I decided, it was a good moment to review. A little bit this project I never did a video would code network so I'm going, to do it right, now, so god Network they, want to create a network, for a theorem, on mobile. Platforms they, want to make it mobile first, and they. Want to allow peer to peer exchanges, so, the first use, case of Go Go, network, is the goal exchange, but. This idea as, chung-kai. Told me they are letting. It for after not like they, want to Center first, on the goal, network.
Functionality. That will allow to, scale up the. Through your network so. They. Talked about this marketplace for. Applications. Like for a later moment, yeah, so. This. Is also. An idea that is interesting, but it's true that goal network like the solving. The problem of scalability scalability. Of its idiom is more more important, in, any case this, those, guys have an another, company, that is. Called infinity, that is doing mobile. Applications, for, iPhones, and tablets. Mostly. Games yeah and they, have like four. Or five for applications, that are, like more important the others like they have one and that, it was released it on 2014. That, has four, point, five over. Five like, a rutting, from from, users it's called happy monsters, they, have another list called happy, Park from. 2011. With a for over five score, and from. B's vs., aliens, released. In 2010. With a three point five over five writing. So. The only application that is on the global rank is happy Park that is a showing on position, 19. 9660. So, it's not like, some. Huge. Huge huge applications, I mean they they, have they, are, used okay but they are not on the top top of the of the. IPhone. IPad. Market. Of applications. Yeah they have also another did he assume Chi Tom told me about another application that is a call. Something like top score video somehow, this is he didn't remember the, name of the application okay. However so, I asked. Him what was the amount, in. USD, for. The. In-app. Purchases, on all the Infinity applications, he was not really, he. Avoided, this question, I guess. Didn't. Want to reveal that can details so, oh. Is. Obvious that, so. Having somebody like yeah Molina, doesn't. Make the app more, valuable in a long-term it. Has some kind of it. Raised, interest, and attract, more investors, to the telegram, that's obvious. It, doesn't mean that the, application, is going to have more. Value of your time so, it's important, to relativize, this kind of of context. Of things, happening around a the ICO okay there is also this ICO. Check report, at github that I think that everybody, have seen it because it has gone all, over internet. And it. Talked about different. Aspects, I think this kind of report, is very healthy it's good to have this kind of people. Asking, questions but. I think also that, somehow. Folding, and giving. Attacking. Some, project, that has, a big, bit hype a big hype is also, giving, them some, kind of advantage some kind of disabilities, you know when you are publishing content. On a medium, you, want to be. To. Be a little bit aggressive yeah, if you want to attract interest. And I, fear. That this report, has gone a little bit too far into that and that's why it has gone and so it was so, much shirt yeah, so my. Honest. Opinion about it and I really don't have any, kind of I mean I have. Nothing with go Network I mean I just trying, to give him my, objective. Opinion about, it first. The companies think you know like they said that in the link Adeem it was written that they have they started the company in some, date. They started go. Network, in. Some date and in the link ad and there was like a curriculum. Vitae with the goal Network from this date from to this to this date but, on the official registry, of. The of the company, the date was not the correct one I mean. Yeah. You. Know like it's. True it's not correct, know like Private, Ltd but. Come. On it's not so important. I feel, like it's not so important, it's not like they are lying I mean. You can have many. Type of associations, and on on, the legal side. An. Association, de facto meaning. Like the Association has not been officially, created, but you, are already collaborating. And there could be a huge amount of work that could be, invested. Into, a project, just. Before. The, companies, created, to create the company only when, doli legal, part on when. The idea is already there when, all the work is almost. There and you are ready to start, to cash in and cash out otherwise. Why do you create the company just to have more expenses I mean, to pay taxes, and to pay I mean, know it first you get the idea you get the legal, parts done and then you create this the company so I don't see like it's really, so. Bad, I mean. You can start that project and just write it on the link at him because during one year you have been working on that project even if the company, is still not there then, you create the company and you change the name here and instead of Cornell what you put go network Private, Ltd. I. Don't. See that like a big big issue, it's not something that is going to affect the quality of the project long term on the midterm so for me it's not something that I take into account. There, is other things about. These. Conversations of, chung-kai, with. Somebody. Okay, so, in the conversation, that you can see here is a screenshot of a smart, phone so. You, see here, no like is, the telegram interface, and the. Guy is discussing, with the other and some guy is really, having like a really, really evil, and.
Greed. Character. Here no like he is really saying like I'm, here for the money I want money and the, rest I don't care at all yeah okay so this. Basically the conversation, so. First, of all I want, to know who. Is the person that, published. This, screenshot. Because. You, know something, it's. Extremely easy extremely. Easy to make, a fake, screenshot. Like this one it's, really easy I mean come, on it's a you, just have to to cut. To two. Images put them together just, cut the part in the top here with the Sun kind name or, just create a fake ass some guy named accountant. Telegram, you, know you, can just put the same image, and the same name the, hundred is not showing here so there, is no proof that this user, is really shunka, it could be just somebody, else that create a second accountant telegram using, the same name and the same photo and have the conversation, with a friend, of him and just to create this phone so, because of the origin of this image is completely, anonymous and because, it's so easy to make it fake I cannot, take this in consideration so, come, on over that. The guy has already said he has I mean he has not run. Away or, something like oh I've been discovered, no the guy has come, out and he said like okay guys does, not mean that's, Vegh somebody. Has been impersonating, me or my. Has, been huck or something but it was not me so, I. Mean. Yeah. This, is just like feeding. The the food and the shield and I'm. Not really. Interested into this part so much I think, what is important is to look into, the project, and to look, into the working, product and see, what the value of that for. Me having a solution that is solving. The atrium, scalability, problems, that, is some kind of light Network lightning Network for, aetherium that, has some, kind of off chain, transactions. To. Speed, up the. Process. For me that's really really valuable and that's what I'm really interested here. So. Here the, question is, about, their. Project, there is two points from either important, here one, is the github the. Gift cup has not been, updated. Since, the hackathon, and think is September, of 2017. So, there. Is no proof that we, are really doing some work some, extra work, so that, was one of my questions to chunk I told him like okay there, is no update on. The. Get Club what's happening with the code address still working on these he, basically told me that there, is not only work on the development. Side but there is also. Technical. Analysis, they have to make prayer analyses, they have to strip, through eight all project, and that's, a lot of work the.
Actual, Moment apparently, they are more working into that and he, told me also that they, prefer to use private. Repositories. For versioning. So like github, but in private, simply. Because they don't want other, points to just fork. It and take, their work, and do something else with it not, at the at this moment that's what he told me and he told me also that before, the, closer. They. Are going to publish an alpha, okay I hope is not like. Credits, guys please if you are seeing this video shouldn't I. Learn, their lesson from credits, don't do it don't, do an, alpha just one to, three hours and for the crowd cell and I'm. Obviously. I have, more expectations, here because. I think the technical team behind, call network goes, far far beyond than credits. Team, I hope so so I, I, really think that is going to to, be different about anyway so for me that's really really, the important, part right. Now on the writing. Under. Wedding. Yeah. So yeah another thing is the auction and this, is not totally confirmed but. It looks like they are going to make an action some, kind of Dutch auction or price. Reduction, auction. So this is, something. That looks like is going to be like that anyhow. I will market. Like this this my working progress spreadsheet. And. For. Now I just mark, it down statues. I, product. Launch I put one month because, he told me that, sorry, is not an alpha - they told me like they are going to release a minimal. A stable, version. Like, the first first, stable version they are going to release it even. Before the crowd sell so, to, be. Precocious. I just, put less than one month after the, crowd, sell they have like a working. Product hopefully. That's what I expect, from believing. What he told me a shun guy I have, no reason to not believe it so I just watched that one action, also for the ICO hack up and right now what I'm doing when it is an auction is that, I'm using, mid. Value okay. I don't. Know if this very, fair or not looks, fair to me, because, inside. The incertitude as, I don't know if it's going to be very good or very bad. The price per token for instance so I put the, hull value so, it's not zero it's not 10.5, and it's, also three it's not six or zero is three for a haircut and does, the score there, is like a hundred thousand, potential investors there is a lot of people on the telegram, I think they have two telegrams so, this is a really, really will, good.
So. That's all for a goal Network right now I give them an, 81. Rating. Okay, 81, are waiting so I'm going to put it on the spreadsheet, already or, after the video so, thank, you very much for looking this video is the the. One I'm doing right now in English okay so for. The French speakers, you have to read the subtitles for once and for. English speakers I think my accent is not so bad okay so. See you again in the next one ciao ciao.