February 11, 2020 (Viz Release) — CryptoCurrency exchanges, regardless of them being centralised or decentralised, all have weaknesses beyond technology and are prone to human intervention. SubSudio, just like many other thousands of crypto start-ups, are all compelled to list on as many exchanges as possible, regardless of the size of their trading volumes or security weaknesses, in order for them to start expanding their communities.
CryptoCurrency exchange ‘AltsBit’ got “hacked” recently… this is yet another in a long line of “hacks” which could be genuine or, more likely to be, exit strategies as we have witnessed all too often lately. SubSudio start-up is due to launch on the 22nd of February 2020; after nearly 2 years in development and watching the blockchain sphere growth and acceptance into the global marketplace. SubSudio could have potentially failed before even starting due to the issues on two exchanges where its native ERC utility token SUBS is listed. Getting SUBS listed on several exchanges has been costly to them in respects of both time and finances to get it listed, with two exchanges now posing large risks to the launch.
Over 600,000 SUBS tokens are on the AltSBit exchange… @ $52.64 a token, as per the last trade executed there, that’s a $30+ million liability prior to the SubSudio grand launch on the 22nd. As if that wasn’t already a big enough of a challenge on its own, another 500,000 of SubSudio’s tokens are sat on the ‘DEEX Exchange’ and who haven’t honoured SubSudio’s withdrawal request since October 2019, with zero response from their operators. When they did finally respond they merely speculated that the issue was with something to do with the Ethereum network itself and that was why users couldn’t withdraw their tokens.
SubSudio could spend a year, or maybe two, building SubSudio up into the massive global business which they plan to do, and then literally have it completely wiped out overnight with 600k or 500k worth of SUBS dumped on the market, which seems to happen far too commonly nowadays with small crypto exchanges, who then simply put their projects into meltdown and take none of the actual responsibility themselves. This also has the negative effect of spreading FUD amongst their community and instils mistrust with their users and token holders.
Fortunately for SubSudio, as a start-up, it has been self-financed and thus avoided doing an ICO, regardless of many approaches with offers of priority listings on exchanges and other ICO offers. If SubSudio would have initiated an ICO it would be realistically finished now before it even got started.
So, time really being of the essence, last week SubSudio took the executive decision to set up a brand-new smart contract for SUBS and the new contract address is: 0xD7D7e034b5a9037A88659F734Bc216e7DF56e6FD.
This very effectively renders ALL old SUBS that are sat on DEEX and AltsBit worthless so that they can continue with their grand launch on the 22nd February as planned without those two massive nooses hanging over their heads. The official partner exchange to trade SubSudio tokens is the CiviliXation exchange.
SubSudio redefines the internet with a brand-new, privacy-centric, alternative suite of web applications and its own new IntraSubsNet ecosystem for user privacy, freedom of speech, net-neutrality and non-censorship.
Net-neutrality is the principle that Internet service providers (ISPs) must treat all Internet communications equally, and not discriminate, or charge differently, based on; user, content, website, platform, application, type of equipment, source address, destination address, or method of communication.
SubSudio is here to take the power away from the big corporations and give it back to the people…
The basic ethos of SubSudio is to build a decentralised internet for user privacy, freedom of speech and non-censorship… and to bring together all the existing projects, which are currently working separately, together all under one new brand; thus enabling them to be used in conjunction with one another… including educating people on how best to use and benefit from them and therefore regain their privacy in the online world back once again.
Their core focus is on privacy and net-neutrality and the first flagship product that they are launching with is a brand new, highly advanced, search engine which offers unadulterated, organic search listings once again; exactly like they used to be ‘back in the day’, before the major corporations monopolised them into totally privacy-un-centric ‘cash-cows’ via extracting their extortionate advertising revenues and the selling of, and remarketing to, everybody’s, what should be private and confidential, personal information and data.
As opposed to going down the now alienated IPO or ICO route, SubSudio came up with this very unique and innovative way to self-fund the final development phase of their initial offering – subsudio.com. This is just the very tip of the iceberg of their massive overall endeavour to build out a completely new internet system and to be the main central hub and gateway liking the old, now very outdated, www internet with, not just one, but two, totally new and highly advanced, privacy-centric internet systems and protocols. You can read the full details of their future plans in their ‘Lightpaper and review their roadmap on their corporate website at: subsudio.io.