The Razor ("RZR") scam. Bryce Weiner and Razortech
- First “Razortech” (an anonymous developer out of nowhere nobody knows about) created a coin called Razor (RZR), which was a complete copy of a scamcoin called Neutrino (a 100% premined scam https://bitcointalk.org/index.php?topic=657607.0). Razortech just copied the idea (using Tor) and code of Neutrino, and made it without premine so that they could advertise the “No premine” shit to make the coin seem legit.
- The coin tried to capitalise on the anonymity trend in shitcoins going on at the time (DRK, CRYPT, CLOAK and similar shitcoins), they knew the hype was gonna come. The coin had no premine, but the mining schedule was made so that there would be huge inflation (new coins mined) during the first weeks so that miners would profit big from noobs who would get exited about a new anon Tor coin (and bring the price to an unsustainable level right away).
- Bryce Weiner saw the opportunity to get involved and hype a coin that would be highly profitable for miners (that's what he does, he creates new coins, he mines and dumps them “I make money out of thin air” http://pastebin.com/VGyVPHN4) so he started “working” and “developing” RZR along with RazorTech.
- To hype a little more, Razortech said that a SMS gateway was in testing and coming shortly, and they said that they had a new solution that would anonymise transactions in the blockchain better than traditional coin mixing and that solution was in testing and ready to launch shortly too.
- These features were NEVER RELEASED (they were likely a lie).
- A decentralised market like Openbazaar (well basically a copy of Openbazaar...) using RZR named “RZRoad” was also promised.
- The coin started going apeshit on Twitter and Weiner was hyping it with all his strength. The inflation was ridiculous (250-500 BTCs a day) and some were getting concerned an warned them (https://twitter.com/CryptoCobain/status/479939530733412352), but Weiner continued hyping (price was around 200k-300k satoshis at the time).
- After a few days from RZR Bittrex listing, price crashed and pretty much continued crashing with some dead cat bounces here and there to eventually reach 5k (today's price).
- Price continued bleeding with no real developments, no features, no new tech, no nothing.
- Razortech and Weiner don't care, because their “MineHypeDump” mission was complete.
- Now Razortech has gone missing, Devon Read (Blocktech CEO) said “we don't have plans to use Razor in anything”, and seems like Weiner will not develop the coin any further from here (https://twitter.com/BryceWeiner/status/529381868677128192).
- Bryce Weiner is fired (“he quit for ethical reasons”, yeah right LMAO) from Blocktech and he's probably gonna try to continue create new shitcoins while keeping the whole “MineHypeDump” scheme intact.
- RZR was a con. A clusterfuck. A highly profitable (for early miners only though, dumping on noobs) cheap copy of a scamcoin that had 0 real developments since its launch.
- Bryce Weiner is an incompetent dev at best, an outright conman and scammer at worst.
- Simply stay away from anything he touches as a developer.
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