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In June, investors in Karatbars International were directed to a recovery fraud operating under the Acura Wellington brand.

Acura Wellington, whatever it was, is no more. MineBase is the new iteration of Harald Seiz’s Karatbars International.

I haven’t seen it personally, but investors in Karatbars International got an email in the last few days.

Their V999 token balance has been transferred to MBASE tokens, the email said.

Affiliates of Karatbars were then directed to use their Karatbars International credentials to access the MineBase website.

The “minebase.com” domain, where MineBase is housed, was registered in 2014.

Data for the private registration was most recently revised on July 2, 2022. Given that Seiz’s MineBase website went up on or around August 11th, it’s likely that the domain was purchased by the company in July.

Notice for August 16, 2022 – Starting on May 1st, 2022, Karatbars International GmbH will officially own the domain name “minebase.io,” under which MineBase will also function. A/B Testing Completed /update

MineBase’s website credits Seiz with the title “Dr. H.C. H.K. Seiz” in its “our team” section.

What do you mean, by “project generator?” I can’t tell if they’re trying to hide Seiz’s role or if they just want to make him feel special.

I’m no name expert, but it seems like the remainder of the MineBase staff is all from the same general area.

MineBase has only been active for a short period, yet the corporation claims it has been operating since 2017.

Greetings, and thank you for visiting Minebase. The need to undertake this task stems from an incident that occurred in the past. Back in 2017, when cryptocurrencies were unregulated, it all began.

The intention at the time was to mint a gold-backed currency. The governing body revised the law in 2018.

For a Stabel token to be listed, additional rules have to be implemented. For this reason, we had to abandon the project. As a business owner, I needed to figure out a workaround.

I’ve spent the better part of the last three years on it. I consulted with experts, and together we studied the whole cryptocurrency sector.

Sounds familiar? It’s Harald Seiz’s sad excuse for the failure of Karatbars’ KGC crypto Ponzi scheme.

Seiz sought to restart Karatbars’ crypto Ponzi with V999 when Josip Heit, the board chairman, left to begin his own shitcoin Ponzi, G999.

I mean, this did occur, as ridiculous as it may sound.

Besides a meltdown in late 2020 and two unsuccessful reboots (Lifebase and some undisclosed project), Seiz retreated into hiding as V999 fizzled out.

Now that Seiz may be cash-strapped, there’s MineBase.

Since the CTP coins are generated using preexisting fees, there is no net gain to the CTP.

My primary motivation for seeing this project through to fruition is to repay those who have placed their faith in me.

That’s why 45,000,000 more tokens went sent to everyone.

To my knowledge (*crypto jargon warning*), MBASE is a stablecoin based on an algorithm.

The tool below is used six months after the MBASE has been listed on an exchange.

A smart contract is used to assess the market. When the token value drops by 10% or more, 0.025% of the unspent tokens are destroyed.

The CTP will only burn the most costly tokens (see the list of algorithms) to reduce the token supply, which has a devastating effect on the token’s value.

The final price for acquiring a token via the CTP is $793,041.08. As a result of their combustion, a sizable portion of the available stock is destroyed.

Example:

The MBASE discount brings it down to nine euros from ten. Concerning the Stock Market. The CTP network still has 100,000,000 tokens available. Tokens equal to 0.025% of 100,000,000 = 25,000.

The token has a current CTP value of $793,041.08. These tokens are destroyed permanently by fire. The new cap for MBASE is 249,975,000 coins.

Following the collapse of Terra and Luna in May, it has become common knowledge that any token or currency whose value is determined by an algorithm is also destined for failure.

I won’t get into it anymore since (a) it’s dull and (b) it has nothing to do with Karatbars investors who are asking how to get their money back.

Given how often etherscan is mentioned on the MineBase website, I’m going to guess that MBASE is an ERC-20 joke token. Since MBASE is tied to a smart contract, promoting it would be pointless.

(Crypto-related bullsh*t disclaimer)

You’re correct about MBASE; it’s the result of exchange costs that have nothing to do with business.

Tokens are not sold but rather generated through an app and the fees of the top 20 decentralized Bitcoin exchangers on the Etherscan network.

Creative Token Production (CTP) is the name for this load of hogwash.

The minimum first investment required of a user for Minebase is 10 tokens. A temporary wallet address will be generated for the user and valid for three days.

This wallet will refund the user for any transaction costs. The user will be rewarded with a Minebase token whenever the balance of their wallet meets the minimum threshold of $6.50 (the current token production price). An entirely new wallet address is generated every 72 hours.

You can receive up to 20 wallet addresses from the global cryptocurrency market, and this number rises with the number of tokens deposited.

If and only if the price of CTP rises beyond the table’s threshold, you will be rewarded with 45 times the amount of the wallet address fee.

The “table” refers to the “CTP Algorithm Table” on MineBase. It explains how an MBASE token may be purchased for as little as $6.50 using some sort of algorithm and how it amounts to $793,041.08.

If it still doesn’t put you to sleep, you may download an app that will award you MBASE for every 6 kilometers you travel:

One MBASE token may be earned by walking a total of 6 km (3.728 mi) with a smartphone.

The MBASE token can be created at a quicker pace the faster you walk (or jog).

A code will be sent to you as soon as your balance reaches $6.50. To obtain an MBASE token, this code must be entered into the administrative backend.

And if you’d rather not drive the 6 kilometers, you can always download some other useless program that will do nothing except produce MBASE over time.

The MBASE may be made with this program.

There is a $6.50 enrollment fee for the MBASE CTP. Per hour, you will receive $0.26 in your MBASE Wallet, which is 4% of your $6.50 hourly wage.

When a single MBASE is achieved, the process of creating CTPs ceases. There is a code on the screen. This code needs to be moved to the Minebase wallet. Done.

I’m confused as to where this foolishness fits with Karatbars Global.

The basic concept is that Karatbars victim’s V999 gets changed over to MBASE. They have the option of taking part in MBASE or cashing out.

Where can I get my cash?

That’s exactly where the whole thing starts to collapse. MBA’s internal value may be manipulated using algorithmic hogwash. MBASE won’t last long once it’s released to the general public.

About 18 months passed during the Terra/Luna algo Ponzi fraud. It took billions of dollars, most of which were lost by naive investors.

A worthless MLM Ponzi currency that only the Ponzi participants care about… Normally I’d advise you to crunch some numbers, but in this case, the math just doesn’t make any sense.

It’s impossible to give a precise estimate of how fast MBASE will fail.

MineBase is, without a doubt, one of the most inept crypto ventures I’ve ever across. What a perfect answer in search of a predicament!

Why in the world would there be a need for a coin whose nonexistent value is based on transaction fees that have nothing to do with it?

You may let us know how the Karatbars email is working for you down below if you’ve got it. If you don’t give them any more money, you have nothing to lose, and I know a lot of you are going to sign up since V999 is dead.

MineBase’s website refers to staking, suggesting that it might become another Terra/Luna-style shitcoin staking Ponzi.

Since it isn’t stated on the website, I can’t tell if MineBase has a multi-level marketing element.

Notice for August 16, 2022 – It seems that MineBase has seen the transition from multi-level to single-level commissions in Karatbars’ MLM business model.

According to the MineBase TOS,

Those who promote others to use Minebase are rewarded with tokens, according to the platform’s referral system.

This implies the referring party will get a 10% token fee for every new token issued.

These rewards are added to the referring user’s Minebase balance instantly. Some prerequisites must be met to obtain the token.

If this happens, Karatbars International will cease to exist as a multi-level marketing firm.

Second Announcement 16 August 2022 – Our best guess is that MineBase is a Russian Karatbars recovery fraud unless we hear otherwise.

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