Substratum Misconceptions & FUD
Update: I have changed my stance on Substratum due to new developments that have arisen since this post was written. Read more here.
Here’s a collection of misconceptions and FUD about Substratum.
Substratum is a scam. They don’t even have a working platform.
Substratum has been in private alpha testing for a while now. They’ve even made a video with updates after the first alpha test. Here it is.
Secondly, there has been a lot of development discussion about the alpha tests on the official Slack channel. Do you really think the Substratum team has made a bunch of fake Slack accounts to make it seem like they have a working platform? If they were actually interested in doing the typical ICO exit scam, they would’ve done so a LONG time ago.
Substratum’s beta launch is happening this month. V1 will come shortly after in January 2018.
Substratum requires extra software to use the network.
This is a very popular FUD point being spread by Substratum’s competitors. Viewing websites hosted on Substratum DOES NOT require any extra or special software. You can use any web browser including Safari, Chrome, Firefox, and even Internet Explorer.
If you are interested in running a node or becoming a web host on the network, then you’ll need to download the Substratum software.
SUB has crazy inflation. It will never go up in value.
This is just plain FUD. SUB is not an inflationary token. In fact, the team has been doing coin burns to stop any fear of a developer coin dump. The next coin burn of 60-100 million SUB is scheduled for a few days after listing on Bittrex.
The only thing that can even be remotely misunderstood as inflation is the following…
Should the market ever reach 90% saturation, the network will create 10% additional tokens and separate them into an account that is only used to fuel the network. These will not hit the exchanges and will only be available for transactions within the network.
This statement can be found in Substratum’s official white paper. If you’re a FUDer who didn’t score high in elementary school level reading comprehension, the above statement confirms that any additional tokens will only be used for network maintenance. They will NOT be available for trading on exchanges, thus there is no circulating supply inflation.
Substratum is not open source because the team wants to scam people.
The Substratum team has chosen not to open source the project until proper internal security audits have been performed. This is not a Blockchain project where people can adopt kittens. Substratum will be used by people around the world to battle censorship and to transmit and receive personal information. Security is of the utmost importance.
Keeping the project closed source for now enables the team to focus on patching any potential network-destroying vulnerabilities before mass adoption. The team has stated many times that they will be open sourcing parts of the project as needed in the future.
Lastly, keeping the project closed source for now prevents competitors from stealing and cloning the source code. There is no scamming going on.