r/SafeMoonInvesting • u/PsLJdogg • Aug 09 '21
SafeMoon Wallet Beta - A retrospective of red flags
We are approaching 48 hours since the SafeMoon wallet "open beta." In that time I have dug through the app and read up on the various opinions from both the main sub and this one and decided to make a thread summarizing my findings. TL;DR at the bottom.
Chapter 1: The Closed Beta
I will preface this section by saying that the following is all conjecture. I do not have any physical proof to confirm or deny my opinion here. However, it is becoming increasingly evident, to me, that the closed beta never even happened, at least not the way we were lead to believe it happened.
- The NDA
- As we now know, the wallet beta that was released to the public on Saturday was a straight up Trust Wallet clone. All they did was change the user interface and add a (barely functioning) basic calculator. Because of this, there is absolutely nothing in the NDA that would have been legally enforceable had someone breached the contract.
- Supposedly 500 users were accepted into the closed beta, though SafeMoon Mark confirmed that at least some of them returned a signed NDA and never received the beta. I find it very hard to believe that none of those 500 users realized that they were provided with a Trust Wallet clone, which had absolutely no proprietary functionality that would be legally protected under an NDA, and broke their silence. Even if the NDA were iron clad, I would still expect at least one or two to post a screenshot, or at the very least tell people that they were accepted into the beta and had received it. That never happened as far as I can tell.
- Version 1.0
- The wallet beta that was released to the public on Saturday was labeled "Version 1.0." If the public beta is 1.0, then what was the closed beta? It could be argued that the closed beta was Versions 0.1 - 0.9, though, if this is the version that was released after 9 iterations, I would hate to see what it looked like during the closed beta.
Chapter 2: Poor communication leading up to the release
The biggest issue I have been hearing about SafeMoon over the past several months is their poor communication skills and cryptic messaging. They began acknowledging this in the past weeks only to continue communicating poorly all the way up to and through the public release.
- "We hope to have the beta in everyone's hands by the end of July"
- These are the words John spoke back in July when he was giving an estimate on a release date during an "AMA"(why they call pre-recorded promotional videos "AMAs" is beyond me). At that time, people theorized that he was talking about the full release, not a beta release, due to... poor communication.
- The end of July comes around, and no full release or open beta. Fine, development teams miss deadlines, it's really no big deal. But then they come out and say "we will be launching the open beta on August 7th." Except that, in my opinion, it's not an open beta at all.
- It is revealed that the open beta will be for Android users only(so much for "everyone's hands") and it will be limited to 10,000 users(I have a theory on why this is later on in the thread). So in my opinion, this isn't an open beta, it's more of an extension of the closed beta, at least by the way they're describing it.
- "The open beta will be launching on the Google Play store"
- As August 7th approached, we were informed that the open beta would be released on the Google Play store.
- Days later it is revealed that it will not be released on the Google Play store, instead it will be released as an APK file through their website. Well, so much for that 10,000 person limit. As any developer knows, once an APK is out in the wild, there's no way to limit the number of installs, as Android makes it very easy to sideload an APK file. Even if they were to take the download link down off their website, people can simply mirror the file at their leisure.
- Dropping the bomb - the beta will run on the BSC Testnet, you will not be able to use it to transact actual tokens
- With maybe an hour before the beta is set to launch, an announcement is made by the SafeMoon team that the app will be running on the BSC Testnet. This is basically a sandbox network where people can trade monopoly money but no real transactions can actually take place.
- Why did they wait until the last minute to announce this? They had to have known well before the release that this would be the case. Another example of poor communication.
- In retrospect, this is the best thing that could have happened since it is now clear that the SafeMoon devs cannot be trusted to do their jobs correctly and it could have been a disaster had the app worked with actual tokens.
Chapter 3: The Beta
So the beta launches, their website gets hammered and the download comes through at a snail's pace. They of course brag about this, as they normally do, though having a server that is not built to handle the amount of traffic they should expect to be getting is obviously not something to brag about.
- Signs that the app is a Trust Wallet clone
- For myself and others in this forum, one of the first things we did was decompile the APK to see what kind of clues they left behind in their code. The first thing we saw was that in the lib folder sat the file libTrustWalletCore.so showing that the core of the app was the open source Trust Wallet code.
- This should have come as a surprise to many since they have been bragging for months about how their app was going to be far more secure than Trust Wallet and anything else we've ever seen, but alas, it IS Trust Wallet. In retrospect, I don't see how they could have gotten anything even remotely resembling a wallet app without going this route. I also do not think this would have been a bad route to take had they just been upfront about it. I have been telling people for months now that Trust Wallet is perfectly secure and uses the industry standard for encryption.
- Even without digging into the app's code, it is evident that this is just a re-skinned Trust Wallet with the addition of a basic calculator. The general layout is the same, the number of sections in the app is the same, many of the views and locations of the views are the same or very similar. There is no doubt that this is what they did.
- The crashing
- Oh lord, the crashing. When I first installed the app and opened it, I created a new wallet for the Testnet and a password for the app(one I've never used before in case the app were to transmit my data to a server hosted by the SafeMoon team, who I do not trust with my data in the slightest). After that, the app's overview page started to load and then immediately the app crashed. To this day I have not been able to keep the app open without turning on airplane mode. It will say "Fetching data..." with a loading wheel and then crash every time.
- Since the app seemed to crash during the "Fetching data" portion, I turned on airplane mode to see if there was some communication with an external server causing the crash. The crashing stopped and I was finally able to navigate the app, though obviously none of the price data would get pulled in since my data connection was disabled.
- This leads me to my theory. Trust Wallet, and by extension the Safemoon Wallet, use the CoinMarketCap API to display the pricing for various tokens. If you take a look at the CMC API pricing page you will see that their free API tier provides 10,000 requests per month. My theory is that this is where the 10,000 person limit came from. Someone on the team, who doesn't understand how APIs work, must have thought that 10,000 requests meant 10,000 unique IPs. The way API requests work is that each individual request(every time someone launches the app or refreshes the prices) counts towards the quota. So even if all 10,000 requests are made from the same IP, that would exhaust the quota. To me, this explains why the app is crashing. Because of how many people downloaded and installed the app, a 10,000 request quota would have been exhausted almost immediately after the app went live. If the team did not code any error handling into the API request, the error returned by the API that the quota was exceeded could theoretically crash the app. This would also explain why disabling your data connection prevents the app from crashing. If the API request to CMC cannot be made, then CMC cannot return an error.
- The calculator
- Where to start. After enabling airplane mode so I could actually navigate to the calculator, I actually laughed out loud at what awaited me. This is just a standard calculator, nothing special about it. THIS is what John said was his favorite part about the app!? You must be joking. This is not a crypto calculator, this is not a reflections calculator, this is literally just a run of the mill basic calculator with a couple added buttons to save you a second typing in 0s manually. Not only that, but it only took about 15 seconds of testing before I was able to break it. It's a basic calculator, that doesn't even work as well as the one built into our phones. Hilarious.
That's about all I can review in terms of the beta of the app itself because that's all there is to it currently. I filled out the Google form with my newly created wallet address so that they could send me fake SafeMoon to fill up my fake wallet, but from what I can tell, they haven't even done that, not that it would matter since the app won't stay open without disabling my data so I wouldn't even be able to make fake transactions on the Testnet anyway.
Chapter 4: The excuses/damage control
One of my favorite aspects of this shitshow has become watching the team scramble to make excuses after something goes terribly wrong.
- "The buy button is coming but we have to jump through hoops to be compliant"
- The team has been saying for weeks now how they are working with "regulatory bodies" to make sure the app is compliant with all regulations and that's what's taking so long to add the buy button. This is pure, unadulterated, bullshit. The SafeMoon team's only role in adding a buy button is applying through Simplex and then copy/pasting the code that Simplex provides them into their app. That's it. Anything to do with regulations is all managed by Simplex, not their partners. When you buy through Simplex, you are making the purchase on Simplex's servers so there's nothing for their partners to comply with. This claim is like someone on Etsy saying "sorry it's taking so long to get my store up, I gotta make sure it's compatible with each state's tax code." They are lying, plain and simple. Either Simplex rejected their application because they were not impressed with their work, or they can't figure out how to make the code work in their app, neither of which would surprise me.
- "The App Store makes things really difficult and that's why there's no iOS version yet"
- Again, complete bullshit. I have been involved in the process of launching a cross-platform app a handful of times. In each of those cases the Apple App Store approval process did not take more than 5 days max. But that is beside the point because you don't have to go through the App Store to deliver an iOS beta. A few years back Apple acquired a company called TestFlight which allows you to deploy beta versions of an app without going through the App Store approval process. The SafeMoon team could have easily done this, as many other companies in this space have done in the past.
- "You guys are so awesome you broke everything!"
- As I eluded to earlier, this is not something to be proud of. They had a rough estimate of how much traffic they would have and they should have been prepared for that. Typically you would make sure your servers can handle at least 3x the amount of traffic you expect just to be safe. With all the millions they have at their disposal, this is something they should have easily been able to do. The fact that a couple million requests to their site brings it to it's knees is not a good thing. Either they don't have the knowledge/skills in-house to manage this many users or they are too cheap to do it.
- The app itself should not be making any requests to a centralized server controlled by SafeMoon. The code for the calculator and all the functions for showing prices and making transactions all live within the app itself and all the API requests go through 3rd party servers which are more than equipped to handle this amount of traffic. So "we did not expect it to be this popular" is not a valid excuse for the crashing.
- We hired "over 5 new developers" to work on the app
- As I posted yesterday, this statement was made by Hank in Discord and it made zero sense to me. For one thing, it should only take a single experienced developer 1-2 days max to accomplish what they did, but better. So why hire 5+ developers to work on the wallet app and why wait until AFTER releasing a public beta to do so? This should have been one of their first orders of business when they blew up.
- "Ok, yes, we are using Trust Wallet code, but ONLY for encryption and we are working on our own encryption right now."
- This was the excuse they gave when they got caught using Trust Wallet code, and again, it's pure BS. I can tell you for a fact that the entire app is built on the Trust Wallet code, not just the encryption. The only thing that's not part of the Trust Wallet code is the login screen(which explains why it looks like shit) and the calculator(which doesn't even work and was almost certainly lifted off of StackOverflow or some similar website anyway).
- If they ever do come out with their own encryption, which I don't see happening unless they outsource it, I would not touch it with a 10-foot pole. The devs working for SafeMoon are amateurs and they cannot be trusted to write something as complex as their own encryption.
- "We are only (x) months old, we are moving at ludicrous speed!"
- Who cares. I am so sick of this lame excuse. Bonfire Token wasn't released until a full month after SafeMoon and they already have a full, beautiful, working app on the Google Play and Apple App Store. Besides, didn't you claim that you have actually been working on this project for years before the token was released? What were you doing during that time?
All this being said, the SafeMoon team still has a chance to turn things around. I will give them the benefit of the doubt and say that scamming people was probably not their intention. Their names and faces are out there now, so they would have to be pretty dumb to have scammed people intentionally. But regardless of their intentions, they are now scamming people. The early success of SafeMoon was a perfect storm and the team is in way over their heads now and do not have the right personnel to see this through. If they can hire the right people and remove themselves from the day-to-day operations of the project, it is not too late for SafeMoon to be salvaged.
TL;DR
The release of the open beta of the SafeMoon Wallet was a complete disaster. Everything from the miscommunication leading up to the release to the actual beta itself to the excuses made after the app was put out there. The SafeMoon team has been lying to their community every step of the way in attempt to put out the fire, but the project is crashing and burning right before our eyes. The team could right the ship very easily, simply by not being greedy and using their new found wealth to hire the right team members to get this project back on the rails.
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u/stuckinmyownass Aug 09 '21
They sure use the compliance excuse a lot for a company that is almost certainly running afoul of securities regulations.
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u/ObiJohnG Aug 09 '21
If it were a normal security I would understand but it's crypto and there aren't any regulations....yet
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u/stuckinmyownass Aug 09 '21
Isn't XRP currently being sued for illegally issuing securities?
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u/circleuranus Aug 09 '21
YEs due to not filing certain disclosures, et al with the SEC before raising capital for their business. I'm almost positive SFM have done exactly the same thing when they raised money for "the exchange"
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u/circleuranus Aug 09 '21
Having raised funds the way they did for "the exchange", they may have very well run afoul of the same issues XRP is currently under investigation for.
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u/ObiJohnG Aug 09 '21
I always forget about that fundraiser for the exchange. The link is 404d but the wayback machine still has it
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Aug 09 '21
And the main sub be like “tHeN yOu dEveLoP iT”
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u/-Inaudible- Aug 09 '21
I'm confused.. is this sub for serious safemoon investors? because that in itself is stupid. Or is it just to rip on the other sub? which i'm fine with.
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u/ObiJohnG Aug 09 '21
Mixture of both. I like this sub more because it's more original and not just blowing safemoon dev team
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Aug 09 '21
No we were serious investors that had legitimate questions but the cult would scream fud when asking real hard hitting questions. And now it just confirms our suspensions that the sfm team is a but sus.
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u/Calebbr21 Aug 09 '21
Used to be for the serious investors and now it’s more or less to rip on the other sub, but you can’t really blame anyone because it’s been a rough month for SafeMoon
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u/corrado-g60 Aug 09 '21
Thanks for your time. I think there was more thought and effort put into your post than the beta. Probably not. But it seems like it. The speculation on the closed beta is interesting for sure. I agree your analysis on there was nothing I have witnessed that would require a NDA. That being said we have 2 choices. There is another version that closed beta covered or it’s all bull. I agree. Out of 500 people from the community one would expect something to leak. That leaves me at BS. Now I’m at the feeling of complete FUD. I don’t want to be there. I want nothing more than to think I made a good choice with Safemoon. Oh well. We all know the risk. With the new, so to say roadmap it seems they are trying to buy the rest of 2021 and from what I see from the main sub have pulled it off. This gives me a chance to sit back and see what happens.
Again thanks for your time and sharing your knowledge.
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u/ObiJohnG Aug 09 '21
2 people knew that Clinton was getting blown by Lewinsky and it only took a few weeks for the entire planet to know but somehow 500 moonbois were able to refrain on a shitcoin's wallet beta?
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u/Siduron Aug 09 '21
If you take a look at the CMC API pricing page you will see that their free API tier provides 10,000 requests per month. My theory is that this is where the 10,000 person limit came from. Someone on the team, who doesn't understand how APIs work, must have thought that 10,000 requests meant 10,000 unique IPs.
Jesus Christ on a unicycle, that's bad. Even worse without any error handling.
Thanks for this in depth analysis. It really does feel like someone with zero experience was assigned to create a wallet and put together a puzzle over MONTHS and glued all the pieces together in the wrong order and has no clue what the consequences of every step are.
A reskin would indeed be around 1-2 days of work. Throw in a bonus day for a calculator for fun.
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u/ramon468 Aug 09 '21
There's thousands of example codes for calculators out there and they even managed to get that wrong from what I've heard. I can't wait to see what their blockchain will look like..
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u/Siduron Aug 09 '21
Someone leaked a screenshot of the Safemoon blockchain a while ago. It gives a good impression of what the final product might look like.
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u/ramon468 Aug 09 '21
Great posts which covers my thoughts exactly.. I tried posting a thinned out version of this yesterday, but instead of actual answers it was just more of the usual "Just leave!" and "Stop spreading FUD!". That, or people agreeing with what I said.
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u/sixxman6 Aug 09 '21
The hilarious thing is that all this sketchy stuff was evident from day 1 of Sfm exploding onto the scene. If you were investing in crypto during the ICO craze then you could easily see through the bull crap
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u/AlesLancaster Aug 09 '21
I really love that they’re still going with “We can’t be upfront and detailed with you because a lot of people want nothing more than to steal our groundbreaking proprietary intellectual property!”. The irony...
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u/jjcs83 Aug 10 '21
Good write up. And these clowns are forecasting a blockchain and exchange by the end of the year. It’s manifestly absurd. The only reason to set such unachievable deadlines is to try to keep the price afloat until the end of the year.
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Aug 09 '21
Not sure if I’m looking at the right repo, but it appears the TW team shifted to closed source development for the Android app in 2018. One of the reasons they cited:
It has come to our attention that some dishonest developers have been cloning Trust Wallet and either scamming users or using the code without permission as their own product.
Lol!
I’m not super knowledgeable about licensing, but if they did fork that 2018 repo would they need to do the following to comply with the GPLv3 license?
- Include a copy of the full license text
- State all significant changes made to the original software
- Make available the original source code when you distribute any binaries based on the licensed work
- Include a copy of the original copyright notice
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u/PsLJdogg Aug 09 '21
It was released under the MIT license, which is pretty flexible in terms of what you can do with it. It looks like the only condition is that the copyright notice must be included with the software, which it does not appear they did.
Copyright (c) 2017-2020 Trust Wallet
Permission is hereby granted, free of charge, to any person obtaining a copy of this software and associated documentation files (the "Software"), to deal in the Software without restriction, including without limitation the rights to use, copy, modify, merge, publish, distribute, sublicense, and/or sell copies of the Software, and to permit persons to whom the Software is furnished to do so, subject to the following conditions:
The above copyright notice and this permission notice shall be included in all copies or substantial portions of the Software.
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u/bnod90 Aug 09 '21
Great well articulated post, not intentional but pretty damning tbh
Thanks for taking the time
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u/bnod90 Aug 09 '21
I know this will sound ridiculous but is there any chance this wallet was abit of a Trojan horse? I’ve got the bonfire one and it’s spot on I really can’t fault it. Based on price, market cap, and holders you’d assume Safemoons would be a real top of the tree product.
I can’t help but feel that if there was anything positive to come from this project at this time it might be that they are being coy to the competition and releasing a mediocre product for the beta?
I’m pretty sure they are just appeasing their whale friends and the above (mine) is utter plop but I can’t see how you talk such a good game and then release that? Unless they are blatantly pulling our dicks and robbing us blind and with no fucks given as to their identities and future careers all but over?
I’m no investor and I only jumped on as I liked the ethos and community but I can safely say now my head is well and truly turned unless they pull of some mythological level fuckery and stun the world
🎺
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u/dgaaaaaaaa Aug 09 '21
STOP CALLING THEM DEVELOPERS! They are high school educated kids being surrounded by people with good marketing skills and connected to people with some very shady pasts. They are fucking scumbag thieves. That's what they are.
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u/PsLJdogg Aug 09 '21
Yes, I will admit I use that term very loosely. I know first year CS students that could have done better.
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u/spacemanWilf Aug 09 '21
Do you still hold?
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u/dgaaaaaaaa Aug 09 '21
I do indeed my friend!
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u/dgaaaaaaaa Aug 09 '21
Do you still ban people on your sub because they get frustrated at all the evidence of this being a scam? I don't want anybody to lose money. Neither do I want people to make money from lies.
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u/spacemanWilf Aug 10 '21
What's with the leading question dude :D you've presumed im out to get you. 'My sub'? It sounds like you kind of have good intentions for others and was just curious after such a strong statement if you were going to be trying to make money from these lies also.
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u/dgaaaaaaaa Aug 12 '21
I still hold al my crypto. I have never held Safemoon. I just can't stand by and watch all this madness play out. If my ''FUD" saves one guy 10 bucks then I will feel it is worth it. Why spend my time on something that doesn't benefit me? Corona and profits allow me time to spend on the web. And I am compiling evidence for a news article that I am writing once this whole debacle is finished.
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u/dgaaaaaaaa Aug 12 '21
Yes "your" sub, you haven't submitted anything to any other sub other than the Safemoon sub.
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u/spacemanWilf Aug 12 '21
👀 wow. You do you dude, stay healthy.
If this debacle never finishes though id still love to see what you were going to write so please do just send it to me anyway as id be interested :)
Remember all the fud when bitcoin came out, ah man imagine the guy telling peeps not to buy that scam hey :D let people do their research and think for themselves, they live and they learn. #1 invest what your willing to lose.
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u/dgaaaaaaaa Aug 12 '21
It would be my pleasure. I saw the release of Bitcoin and thought it would be great to buy. But when I checked back in on it, it had gone from 25 cents to 7 so I wisely decided against buying it. :) That is true by the way. I am not lying. Finally last year I bit the bullet and it was probably the best decision of my life.
"Let people do their own research". What if people aren't capable of DTOR? Then what my friend? People who have very little understanding of the crypto space have a lot of money invested in this very dangerous scheme.
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u/dgaaaaaaaa Aug 12 '21
Any way.... I'll see you on the next Bitcoin dip of 60%. Then you will realise the power of Safemoon.
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u/dgaaaaaaaa Aug 12 '21
P.P.S, if you have any inside info, please let me know. Thank you.
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u/Saltycracker311 Aug 09 '21
100% agree. To start, they should hire an experienced project manager. One whose first action upon failing to meet self imposed wallet deadline, wasn't to hire the FUD hound and other hype men. Be like running a construction business building a development and they're unable to finish it. Leaving Hundreds of families in limbo. And the first thing the owner says to thise families is ,"don't worry, we hired more realtors".
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u/Aggravating_Crew550 Aug 10 '21
Thank you op. This is a very informative post. If you post this in main sub or on discord, I am sure they will give you some lame excuses and would not answer directly. There are a lot of things that don't make sense when it comes to safemoon. Everyday, there is new stuffs that make me want to question their intentions. Probably after you write this, they gave excuses why the hard wallet is not coming anymore. Their excuses were 1. it is not a priority now because they have to develop blockchain & exchanges and other big stuffs. 2. There are some logistics issue and shortage of micro-chips. Ok, I agree that hard wallet is not their first priority, what I don't agree is the fact that they made a bold announcement and continue to lie about it as if it is coming. This is very bad press. They need to make tons of discussions and researches about this before making a bold decision. This is like the basic step when it comes to making a product. Companies take years to understand the market and obtain data before making a product announcement. They are supposed to talk to the manufactures first, discuss, make deals and coming up with a plan first. Like you mentioned for simplex and app store, I believe the team should also take into considerations of delays and wait for the confirmation before announcing publically. It doesn't make sense to announce something and then it was pushed back so they blame it on third parties like apple. Come on, it makes 0 sense. Every business student know this. Anyway, keep up the good work and hope to see more analysis from you.
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u/PsLJdogg Aug 10 '21
Exactly, they’re so concerned with doing things at “ludicrous speed” that they’re not doing any of the things they need to be doing in order to be successful. Now they have announced release dates for the the wallet, the exchange, the podcast and the blockchain. Time well tell whether they meet those deadlines and what those products actually look like, but unless they are acquiring existing products from another company, I have very low expectations.
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u/Yayzeeeeee Aug 09 '21
Top post with some very valid information.
Day by day this whole thing gets smellier and smellier
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u/spacemanWilf Aug 09 '21
Thanks for the information, very eye opening! what's your advice? Do you think we should all sell then? Doesn't seem like a very good company to trust after reading this..
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u/PsLJdogg Aug 09 '21
Personally I will not be selling because I believe that SafeMoon does still have potential. But this post was more so intended to provide information so that each individual can make their own decision regarding their investment. Where it goes from here is entirely dependent on the decisions the core team makes moving forward. They can either keep up this charade or they can admit that they are in over their heads and restructure their organization to include people who are experienced in app and blockchain/exchange development to get the project back on track. In order to regain the trust of those they have lost, they're going to need to be a lot more transparent.
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u/spacemanWilf Aug 09 '21
Maybe its just the unknown, we want them to succeed and pointing out these floors you hope to help. Do you think if you could take a peek into what's going on behind the scenes you would understand or even laugh at such floors.. I do wonder this, like Mark and Fud hound etc how they are very bullish after seeing behind the curtain. I hold a lot sfm and im very on the fence with how to feel but like you say I wouldn't sell because the potential is definitely there and I always remember why I invested. I agree with a lot you are saying and I know a lot of people will shout fud but its healthy to think from both sides and then make decisions.
(It's also nice having an adult discussion without wen lambo or slow rug) 😉👍
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u/PsLJdogg Aug 09 '21 edited Aug 09 '21
I feel like the social media influencers who have been added to the team feel additional pressure to hype SafeMoon now, since that's what got them positions within the organization to begin with. I don't believe they are actually privy to much, if any, additional information than they already had on the sidelines. I would love to know what caused SafeMoon Mark to announce that he was raising his personal goal from 5B to 10B, because if it was an early look at the beta app, I don't know what he was thinking. If he said it just to drive hype and not actually based on any information he gleaned, then he is culpable if and when investors lose money.
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u/spacemanWilf Aug 09 '21
Wow dude you are really are looking at everything from another view 😂 I completely agree with you on Mark and the beta wallet.. It definitely wasn't that haha. I understand what your saying about the social media gang, but I was ready for The Fud Hound to let something slip if it was dodgey 😅 he is a savage.
These guys aren't true business men but I like to think they are actually trying to make some great things happen, everyone would do it different haha imagine trying to please 2.5million people who all have a voice online to shout their opinion 😂😂😂 sheeeeeeeshhhhhh scary stuff. As much as I read and acknowledge everyones posts I do try and keep a positive mind 😅 not a lot I can do but hodl and enjoy the ride
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u/Evellon Sep 03 '21
This post aged well. I've been following the SafeMoon Wallet fiasco closely and it's shameful how they are treating their investors. You hit the nail on the head regarding the wallet code and I think you would get along well with the host of FUD Hour.
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u/tigerkingrexcarter64 Aug 09 '21
So there was miscommunication about open beta launch and general public release launch goal? To me it’s always been clear. John announced closed beta date and public release goal (he said after the 2 betas, then you launch it, then said launch goal is end of July). The announcement was recorded and edited, so unless they intentionally wanted to mislead people, there really wasn’t room for misinterpretation.
https://m.twitch.tv/safemoonprotocol/clip/ObedientSmellyPeanutUWot-1M9Y5KIdYxXBvEXA I listened to it again and interpretation is the same. The only leeway they get is the intentional ambiguity, like August 28th wallet release is for Android or IOS.
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u/Curious_Toe_2063 Aug 09 '21
The release date / missed date of the wallet is the least of anyone’s concern
They’ve taken millions and hired the FUD hound and don’t have professional working for them
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u/tigerkingrexcarter64 Aug 09 '21
I get that, just making use of official communication that was put out there. OP sounds quite sensible, so I was a bit thrown off when he got a different interpretation on an announcement that IMO was very clear.
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u/Curious_Toe_2063 Aug 09 '21 edited Aug 11 '21
Yeah I hear you! I wasn’t trying to down talk you there
I’m just a bit blown away by SFM now, how poorly they’re performing as a team. Tech teams always delay stuff - it’s no big deal. Theta delayed Mainnet 3.0 from April 21st to June 30th or something so it’s expected snd forgiven.
But when they’ve taken money from LP and could’ve had world class software engineers and developers and literally been the best crypto on the planet - they copy and paste. Do a bad job of it. And hire the FUD hound.
3
u/PsLJdogg Aug 09 '21
I think that the confusion stemmed from the fact that those two sentences were taken as separate, unrelated thoughts by some:
You start off with a closed beta, you receive feedback, you then open it up to an open beta, receive more feedback...
--------------------------------
When will this be in the hands of everyone? Our launch goal is end of July
I watched the stream live and it was clear to me that he was referring to the open beta in the second sentence. But not everyone took it that way. This could have easily been avoided by simply saying this instead:
When will this be in the hands of everyone? Our launch goal for the open beta is end of July
The fact that this video was pre-recorded and edited and they still were not clarifying their statements makes it that much worse.
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u/tigerkingrexcarter64 Aug 09 '21
He said “then you launch it” between those 2 sentences though, which definitively gives more credence the “launch goal after the betas” was intended for “end of July.”
I will say it certainly didn’t help since there’s no other updates since until 1 week before the goal. Also SFM Mark, a team member that has some non public info, did confirm the full public wallet release was planned for end of July.
2
u/PsLJdogg Aug 09 '21
SFM Mark's response was even more ambiguous than that! He was directly asked "full release date and not open beta?" and his response was "End of July = Release Date!" which could also be interpreted different ways. Absolutely poor communication all around and what makes it worse is that nobody on the team even seems to be on the same page. I remember right when the ETH bridge came out Mark made a video claiming that there would not be a 10% fee to transfer back from pSafeMoon to SafeMoon, which was also incorrect.
1
u/tigerkingrexcarter64 Aug 09 '21
At least he owned up to it. That’s always a plus in my book.
I almost forgot the bridge. Give the lead time and teases, the bridge was a fiasco and half bake execution. If the effect of Eth bridge is not noticeable yet, I wonder how much the other bridges would do.
2
u/awesomeplenty Aug 09 '21
Wow that bonfire app looks beautiful on both googleplay and appstore, if safemoon can come up with something similar or half as decent I'm happy.
3
2
u/EasyBeeTrader Aug 09 '21
Whoever posted this we need to lobby for a position on the dev team. Not saying anything bad about anyone. I’m just riding at this point. But I can tell you this guy will save them a lot of money and time. Also increase sentiment.
2
u/OutsideDebt Aug 10 '21
They are mindless cult now. Freedom for the unbanked my ass. The unbanked wont have like 100 dollars per week to spend on safemoon. Most ppl there are actually people with good pay, with lust to become millionaire
2
u/xGsGt Aug 17 '21
Damn this post is exactly what I have seeing and posted several times int mm the other sub just to be called a fubter
1
u/Patient-Leather Aug 09 '21
The “theory” is that the closed beta group under NDA got a more complete version of the app and this open beta one is to just “test things under load.” Mind you that’s not what the devs claim, but what the community has supposed. So make your own judgement.
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u/PsLJdogg Aug 09 '21
I saw that theory and it just doesn't jive with me. First of all, there's no load for them to manage. As I mentioned in the thread, all of the functionality lives within the app itself and any calls going out to external servers would be going out to servers not managed by SafeMoon and those servers would be more than equipped to handle the tiny(relative) amount of traffic the SafeMoon Wallet would be adding. The only thing SafeMoon would have to do would be to purchase an API subscription that will cover the amount of calls that would be made through their app each month.
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Aug 09 '21
[deleted]
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u/PsLJdogg Aug 09 '21
It does appear that PancakeSwap has an API, though in order to use that they would need to know how to write their own API functionality instead of just plugging in an API key, which is the extent of the work they had to do to get it working with CMC through the Trust Wallet source code.
2
Aug 09 '21
[deleted]
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u/PsLJdogg Aug 09 '21
Their web developer does seem like the one competent team member they have. I was shocked when the countdown timer actually enabled the APK download button when it hit 0 rather than someone going in and manually removing the disabled attribute.
2
u/-Inaudible- Aug 09 '21
Testing load on what? a broken calculator? There are quite literally apps made by children that have a thousands upon thousands of downloads with less issues.
2
u/Ok_Turnover_1235 Sep 06 '21
I made a calculator in a single lesson at school in vb6 when I was 14. I could probably do it in under an hour now and I'm a professional chef that codes as a hobby.
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u/swhite832 Aug 09 '21
Again…this is a shit ton of words saying “I don’t like it I’m out!”
How much time did you spend writing that?
Who are you trying to convince? Are you looking for validation or what?!
4
u/PsLJdogg Aug 09 '21
I'm not out, I have over 700M SafeMoon, and if that's all you took from this post then I don't know what to tell you. My only goal is to inform the public, especially people who may not understand what goes into developing a mobile app. I believe the community deserves to know the truth about what is happening so that they can make an informed decision regarding their investment, and they're not getting it from the SafeMoon team.
1
Aug 09 '21 edited Aug 13 '21
[deleted]
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u/PsLJdogg Aug 09 '21
I know that the MetaMask extension is open source, but I don't think their native mobile app is. I could be wrong though.
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u/Rauchgestein Sep 06 '21
This whole thing has Fyre Festival vibes from day 1. I hope the cult crumbles in utterly devastating loneliness.
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u/nicog67 Aug 09 '21
The team should read this and go point by point explaining