Roughly two months ago I posted information regarding the Cryptocurrency Ethergem, however recent events have transpired that warrant a word of caution to anyone who may be thinking about investing their time or money into this coin.
Since my original post there has been a steady downtrend in the Crypto's value. It's not shocking that a cryptocurrency will lose value, However it won't take long to see exactly why this is happening.
The team behind this coin used to be community devs on Ellaism, and after an altercation with the Founder of Ella decided to start their own cryptocurrency Ethergem, while leaving negative posts regarding Ellaism across various forums hoping to hurt it's value. This is a common theme of the team, to get upset or angry at the smallest negative feedback or criticism.
There have been instances where an interested person has asked about a Whitepaper only to be barraged with poop / toilet paper jokes. They claimed to hate McAfee and said he kills coins with his pump and dump tweets, but then are paying discord members to retweet McAfee/EtherGem advertisements. When asked about this again they responded with hostility.
Originally the team pushed the idea that Ethergem would never have masternodes, but again have changed their mind and are now advertising masternode sidechain/subchain technology based off 15 year old unverified technology they do not want to disclose... as stated by one of the developers "it was blockchain before blockchain existed". Any questions about verifying this claim is followed with claims that people want to steal this technology, and also a rant about how great this vaporware technology currently is and other grandiose claims (used in millions of dollars of equipment, used world-wide, etc).
All of this on top of delay with simple projects (explorer, a non-alpha wallet, etc) is enough for anyone to question the validity of the developer's claims. However, if you do bring these questions up and are not happy with the response the team will berate you, and eventually ban you from their social platform(s).
If all of this is not already enough, the developers have no problem threatening to blacklist your address (if they have it, usually through their forked Expanse discord bot), because of an argument.
If they have no problem doing or saying this to a community dev and #3 on their 'richlist' over an argument, they have no problem doing it to anyone.
I have since put all my EtherGem up for sale and won't be looking back, and hope this information may help anyone who may be thinking of putting in time, hash, or money into this Cryptocurrency.
