Money Makers Code Review

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Money Makers Code Review

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Money Scam Network Research

This extension is designed for research purposes to discover a scam network

Note: The network has updated its code and included the actual dom in a cross-origin frame. As a workaround, go to that frame url directly instead of dealing with it in a frame.

Came across this FAKE SCAM website today: http://onlymoney.club/ which is affiliated with a series of similar fake websites, but I am really amazed by the con skills these guys possess!

SPOILER – Technical Analysis Ahead Upon registration, it does not verify your email, and it directly logs you in after registration. After becoming a user, it shows you that the rate per captcha has increased to 10 cents, which is a great incentive to make 6$ in 1 minute!

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It then requests that you reach a minimum amount of money before withdrawing your “hard-earned” money :P

I was able to exploit the website and generate 2500$ in under 2 minutes which made me discover the tricks quickly.

This is the tool I used to generate that amount of money, it’s a chrome extension.

So after you get that amount, they give you a referral link, they say that you should make 40 people join their website, you will get 50% of what your referrals make.

Instead of getting the referrals and waiting for people to join, they give you the option to pay (in Bitcoin) some of their active users so that they “share” with you some referrals, prices range from 10$ to 20$ for 40-100 referrals.

Another exploit and I got 41 active referrals (although that took 30 mins :P )

So you get the referrals and you’re now ready to click “withdraw”.

A message box appears and it goes like this: “You’re account is not verified, it will take 2-3 months to verify your account. Pay 10$ in bitcoin and you will receive your money in 5-10 mins.”

I wish the story ends here :P

I go to the support section where it claims instant publishing of your post (and where you have a lot of satisfied “workers” who were able to withdraw thousands of dollars”), so I publish a message about them being scammers and to my astonishment, my message indeed gets published instantly without moderation!!

Opening a different browser session (incognito mode, without logging in, and all cookies and cache cleared) also shows that the message is published.

Changing the IP and starting a new session shows that the message is actually bound to the user’s IP address. now isn’t that brilliant.

I finally write them this message and publish my findings here.

“LOL so you attach the review to the IP address so that it looks to the publisher as if it is directly published without moderation and convince users that you are not scammers. Professional con skills. Expect someone to get to you soon ;)”

Maker Token Review (MKR) – Can You Make Money?

In my last article, I reviewed the DAI stablecoin. The Maker Token (MKR) is a stellar example of a functional token. The token holders govern the Maker system and their actions affect the price of MKR. Read on to discover more.

Maker Coin Review – Will Maker Hit $4,000 in 2020?

Take a look at my YouTube video to learn more about Maker.

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Maker Review

Name: Maker

Ticker: MKR

Launched: 23th August 2020

Type: Cryptocurrency, ERC-20 token

Short Review: The Maker Coin (or Maker Token) is an investment into the Maker Project. Ownership of MKR permits taking part in the maintenance of the Maker projects, like the stablecoin DAI and the ecosystem around it. The value of MKR is based on the successful maintenance of the projects and use of the products.

Maker is an interesting token and may give great returns in the future if Dai/MKR projects succeed. On the other hand, investing in cryptocurrencies always involves risk. If you want to learn a more secure way to earn money online, have a look at this step-by-step training.

What Is Maker and How Does It Work?

In a previous article, I explained the DAI stablecoin, valued at 1 USD. I recommend reading that article first, or the terminology used here might be confusing. The parameters for DAI generation are set by holders of the MKR token via vote. The parameters include but are not limited to:

1. Target Price

The target price of DAI is currently set at 1 USD.

2. Target Rate Feedback Mechanism

MKR holders vote on the Target Rate and the Sensitivity Parameter. They can also disable TRFM altogether, keeping the Target Price locked.

3. Risk Parameters

The Risk Parameters for the currently available CDP is set at 150% collateral for every DAI generated. The MKR holders can vote to allow users to create more risky CDPs (less collateral per DAI) or alternatively require more collateral per DAI. The Risk Parameters also include the fees users pay when their CDP is closed due to prices dropping or paying off the loan.

4. Global Settlers

MKR holders appoint and determine how many persons are required to trigger a Global Settlement, a last-resort stability mechanism, for the Maker Platform.

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Benefits of Maker

What is the benefit of owning MKR? How will the price go up?

1. Closing CDPs destroys MKR

When a user closes a CDP by destroying an amount of DAI equal to the amount they created using it, they have to pay a small interest fee issued in MKR. This MKR is destroyed, thus reducing the supply of MKR and increasing its price.

As the demand for the DAI stablecoin increases, users keep creating new CDPs and eventually close them to regain their collateral. The more popular DAI becomes, the more MKR is destroyed as interest fees, increasing the price of MKR.

2. Floating price on exchanges

MKR is an ERC-20 token that can be traded on exchanges. Like most tokens, the price of MKR floats according to supply and demand. This makes MKR a viable long-term investment, unlike DAI.

Risks of MKR

There are also mechanisms that cause the value of MKR to drop.

1. Automatic recapitalization

If the collective collateral pool becomes less valuable at some point than the total amount of DAI in circulation, the system creates new MKR and sells it to fill the collateral pool. This dilutes the supply of circulating MKR, decreasing its price. Ultimately this means that the MKR holders are responsible for keeping DAI sufficiently backed and have to pay if it becomes undercollateralized.

2. Hacking

Even though the project is over 2 years in making, they still list malicious attacks on their smart contracts as the primary threat to the system. The project aims to combat this via external security audits and formal verification of the smart contract code. Looking at the roadmap and other ongoing work, this does indeed seem to be the case.

Maker Team

There are 44 people currently working on the MKR project. The sizeable team has done a good job with transparency. They hold weekly voice calls with MKR holders to describe progress and debate changes. In the picture below you can see the leaders of Maker team.

Maker Community

Reddit: 3k
Twitter: 6k
Rocketchat: 3k

The community is active and a significant fraction of it is interested in the development and maintenance of the product. This token is highly technical and as such the userbase would seem to attract blockchain experts and veteran investors.

Is MKR Worth Buying?

DAI was released in December 2020. The price of MKR has almost doubled since then. We can expect a significant increase in users when multi-currency CDPs become available. If more cryptocurrency exchanges begin to use DAI instead of Tether like the Bibox exchange has already done, MKR will benefit.

Maker Price Prediction 2020?

I predict mostly speculative price action for MKR in 2020. The current CDP volumes, while significant, are not enough to affect the price of MKR. That said, I predict that the FUD surrounding Tether will benefit DAI and MKR. Additionally, huge news like a major exchange listing can spike the price up. Finally, MKR benefits from any bullish trends in ETH.

2020: Short periods of 1500$ – 2000$ price range, unable to break 2000$.
2020: Overthrowing Tether combined with bullish ETH for 4000$-5000$, otherwise steady growth towards 3000$

Conclusion – Is MKR a Good Investment?

MKR is an exceptionally complex and risky token. Overthrowing Tether as the leading stable cryptocurrency is a gargantuan task, but the solid technology behind the project makes this a viable goal. Unlike many other tokens, whose value is mostly speculative, MKR has a ready product (DAI) and a clear, transparent system in place connecting the investor token with the product.

I see MKR as a reliable investment even at the current quite high price. However, even more so than usual, I urge you to understand this complex token before investing in it. Staying up to date with the project and predicting major releases by participating in the weekly calls will allow you to stay ahead of the game and move before the market does on MKR.

This token is especially good for purchasing dips. If bad news like hacking or a Global Settlement happens, the price can drop a lot, only to recover later due to the stable demand for DAI generation.

(Note by Roope):

Maker is certainly an interesting cryptocurrency and I consider investing in it in the future. I think that stablecoins are a great step forward when moving into mass adoption of cryptocurrencies. Many people want that the value is predictable and doesn’t move up and down 20% in a day.

That’s why I believe that coins like Dai and Tether may have a great future. It means also that MKR could potentially go up significantly in value.

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What do you think about MKR?

Do you think exchanges will move from Tether to DAI?

Do you think hacking is a risk for tech-heavy projects like MKR?

Is MKR worth buying or not?

How much will the value be in the future?

Let’s discuss in the comments below! ��

(Disclaimer: The above references an opinion and is for information purposes only. It is not intended to be investment advice.)

What Are Market Makers and How Do They Make Money?

Understand this key part of stock trading

The speed and simplicity with which stocks are bought and sold can be taken for granted, especially in the era of app investing. It takes just a few taps to place an order with your brokerage firm, and depending on the type of order, it can be executed within seconds. A behind-the-scenes force helping these transactions execute so quickly is known as the market maker.

Whenever an investment is bought or sold, there must be someone on the other end of the transaction. If you want to buy 100 shares of Disney, for example, you must find someone who wants to sell 100 shares of Disney. However, it’s unlikely that you will immediately find someone who wants to sell the exact number of shares you want to buy. This is where market makers come in.

What Market Makers Do

Market makers—usually banks or brokerage companies—literally “make a market” for a stock by standing ready to buy or sell a given stock at every second of the trading day at the market price.   This is good for traders because it allows them to execute trades whenever they want, more or less. When you place a market order to sell your 100 shares of Disney, a market maker will purchase the stock from you, even if it doesn’t have a seller lined up. The opposite is true, as well, because any shares the market maker can’t immediately sell will help fulfill sell orders that come in later.

Without market makers, it would take considerably longer for buyers and sellers to be matched with one another. This would reduce liquidity, making it more difficult to enter or exit positions and adding to the costs and risks of trading.     Financial markets need to operate smoothly because investors and traders prefer to buy and sell easily. Without market makers, it’s unlikely that the market could sustain its current trading volume. This would reduce the amount of money available to companies, and in turn, their value. 

Market makers are required to continually quote prices and volumes they are willing to buy and sell at. Generally, a market maker commits to buying and selling at least 100 shares at any given moment.   Larger orders could be filled by multiple market makers.

Market demand dictates where market makers set their bid prices (what they’re willing to pay for shares) and ask prices (how much they’re demanding).

This process helps to maintain consistency with markets. In times of volatility, the relatively stable demand of market makers keeps the buying and selling process moving. Without them, buyers could find it difficult to get in on a hot stock, or sellers could find themselves unable to sell a stock that’s tanking.

How Market Makers Earn Money

When an entity is willing to buy or sell shares at any time, it adds a lot of risk to that institution’s operations. For example, a market maker could buy your shares of common stock in IBM just before IBM’s stock price begins to fall. The market maker could fail to find a willing buyer, and therefore, they would take a loss. That’s why market makers want compensation for creating markets. They earn their compensation by maintaining a spread on each stock they cover. 

For example, let’s look at the hypothetical trade of IBM shares. A market maker may be willing to purchase your shares of IBM from you for $100 each—this is the bid price.   The market maker may then decide to impose a $0.05 spread and sell them at $100.05—this is the ask price.   The difference between the ask and bid price is only $0.05, but the 90-day average trading volume for IBM is more than 4 million.   If a single market maker covered all those trades and made $0.05 off each one, they’d earn more than $200,000 every day.

What does “buyer is maker” mean?

What does it mean to say that “buyer is maker” or “buyer is not maker”? If a trade happens where the “buyer is maker”, does that mean that the trade happened as buyer bought a share?

I am asking this because at Binance, there is a tag that says “isBuyerMaker” describing a particular trade.

3 Answers 3

There are many exchanges (not only for cryptos) that use a “Maker-Taker” model. In this model:

  • A taker is the party whose order tends to be filled on demand (i.e. does not has to wait). This part also tends to pay higher fees.
  • A maker is the party whose order tends to stay in the market for some time, waiting for a counterpart (a taker) to complete the transaction. Since they are the market makers, they tend to pay lower cases.

The particular tag that you are seeing basically implies that there is a lot of demand for buying, so if you want to start that trade you’ll probably will have to wait until your order is completed.

For a trade to happen, there must be a buyer and a seller. The buyer could have placed an offer to buy, which the seller took. Or the seller could have placed an offer to sell, which the buyer took. These are the only two possibilities.

If the buyer placed the offer which the seller later took, the buyer is the maker (he made liquidity available) and the seller is the taker (they took the buyer’s offer). If the seller placed the offer which the buyer later took, the seller is the maker (he made liquidity available) and the buyer is the taker (they took the seller’s offer).

This matters for at least two reasons:

1) Typically the maker pays a lower fee than the taker.

2) This makes a difference in understanding what the price is telling you. For example, imagine if there’s a market with people willing to sell apples for $1 and willing to buy apples for $0.90 — if the price never changes, you will see transactions for $1 and transactions for $0.90, which might make you think the price is changing. But all the $1 trades will have the “buyer is not maker” flag and all the $0.90 trades will have the “buyer is maker” flag, allowing you to understand that the change in trade prices doesn’t reflect any actual change in the market.

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