It’s an unfortunate truth that masternode cryptocurrency projects are rife with developer exit scams. Bitcoin Incognito (XBI) was no exception.
A few of these projects have experienced a community revival, with varied results. Much of the likelihood of success of these projects depends on the tenaciousness of the community, but it also requires someone to take the lead. If the project comes with an innovative idea, the prospects look even better. It was a bumpy ride, but in the end, the Bitcoin Incognito project has risen like a phoenix out of the ashes, and the future looks bright!
The signs of an impending exit scam are usually there, if you know what you are looking for: poorly spelled content on poorly constructed or generic websites, largely absent developers and very limited funds used for exchange listings or advertising are the most obvious signs. This project didn’t quite fit the mold as the grammar was perfect, the website reasonably good, and three so-called developers were posting on social media channels with varied levels of regularity. They were also paying for advertising banners on a well known masternode registry and had taken the expense and trouble to get listed on several exchanges. The fact that they fooled some people that should have known better may be the reason why this project was one of the few that could be saved.
Among these people that should have known better were folks with IT and coding experience, graphic designers, website developers, marketing gurus, writers, and program managers. These folks not only didn’t want to lose their investment, but they thought the project had merit and with the right team it could really succeed. So with this group of people, the new Bitcoin Incognito community team was born. Led by two individuals with the monikers Sys and Freight, they got to work revamping the website and graphics and creating a Whitepaper while the new developers focused on a better wallet and a fork that would insure the old developers could no longer profit from their efforts.
The new chain is now running and there are over 700 masternodes currently active. If you are apprehensive about trying to get your own masternode up and running, Bitcoin Incognito is already available on platforms that will do the hard part for you for a reasonable fee.
Read more about Bitcoin Incognito on their website at www.bitcoinincognito.org. There you will find links to social media channels including Telegram and Discord where you will encounter a group of friendly and knowledgeable community members ready to answer any questions you may have.