It is certainly no news that cryptocurrencies ( or crypto’s as I like to call them) are the rave in financial circles these days, this has been mentioned several times. Profitable investments, easy access, open administration, everybody wants a piece of this gigantic, yummy and enriching cake.
However, as with all opportunities involving significant money making, there is a modicum of deceit involved. There are some unscrupulous elements who seek to make a ton of money by conning people out of their hard-earned money, using the supposed investment opportunities as a cover.
In the cryptocurrency community, one of such deceitful endeavors is The Billion Coin (TBC). This is a self-acclaimed cryptocurrency which claims that its market value always increases every day. The TBC came in at an opening value of €0.001 and has supposedly gone up 5% every day since. That sound like a load of crap to you? Because it does to me. Of course, the aim is to seduce new members with the idea of becoming millionaires in a short period of time. Who doesn’t wanna get rich fast? A harsh judgment? Wait until you see the reasons why I said TBC is a scam.
WHY TBC IS NOT A CRYPTOCURRENCY AND SHOULD NOT BE PART OF YOUR INVESTMENTS
#1 TBC Value Is Always Increasing Insanely
First off, the value of TBC always goes up, or so they claim. This is one of the most incredulous parts of this TBC scam. This simply can’t happen unless the value of the coin is determined by its creator and not by a market. And if the value is not determined by a market, then how is it a currency? There is no cryptocurrency which its price goes up continually. Its clear that this is simply a plot to entice more members to join the scam.
#2 The Billion Coin Is Not Registered On Coinmarketmap
Second, it is not registered on coinmarketcap.com and that is a major blow against the coin as all crypto’s are usually found here. The TBC can not also be mined which makes one really wonder how new coins are generated if it truly is a cryptocurrency. Alas, it is not.
#3 TBC Is Not Decentralized
Also, it is not decentralized. The TBC is run by an administrator who likes to call himself Kris Kringle, the creator of the coin. This admin has unmitigated control over your TBC wallet and can suspend your wallet if you do not follow their rules.
All of your TBC wallets will be suspended without warning for up to six months if submitted documentation proves that you are attempting to or have broken the Membership Agreement. All buying and selling of TBC coins must be done at the Current Price. Selling TBC coins at a discount is strictly forbidden and punishment will be swift and without notice given. All packages of TBC coins sold adding TBC coins as a gift will also be considered a discounting of the price of TBC and will be punished. The foundation of the TBC community is the Membership Agreement and we will not allow anyone to crack it, and have zero tolerance for anyone who attempts to break it. – thebillioncoin.info.
That is a statement on one of the websites for the TBC currency. This clearly shows that the TBC is a closed community ruled by an all-powerful admin who can do whatever he likes with your wallet.
#4 TBC Has No Open Market
There is also no open market for this coin. It is a closed community of fanatic believers in the miracles of the coin and should the scheme ever break down, the members will be left with a completely useless coin in their wallets for it cannot be accepted anywhere or sold anywhere.
#5 TBC Sounds More Like A Ponzi Scheme
Also, as the value of the coin is not determined by any market operations, returns on investments are calculated by a formula that always increases the value of the coin so that people who got in earlier see returns on their investment first. As this is simply defying of all financial logic, the scheme can only be funded by more members joining and this is reflective in the formula used in calculating the price.
The Billion Coin was launched on March 21, 2016, with the Initial Price of 0.001 Euros per TBC coin. The Current Price takes from the Initial Price to the Ultimate Price is determined by a software formula that measures the average daily growth in Verified Members of The Billion Coin community and rewards that growth in kind. The formula of the Ultimate Price of The Billion Coin is one Euro multiplied by the total number of Verified Members within the community. For example, if the total number of Verified Members equals 10,000, then the Ultimate Price of The Billion Coin is 10,000 Euros per coin. To make this more feasible, the scheme rewards members for recruiting new members. You are paid to get more people into the scheme.
What is the incentive to share THEBILLIONCOIN and why should you recruit people into it? The answer is so easy!
Doesn’t the Ultimate Price of TBC go up by one Euro for each new member that comes into THEBILLIONCOIN community? Yes! It does!
Doesn’t the Current Price of TBC go up daily, like clockwork, at a rate of 1% to 5% until it reaches the Ultimate Price of TBC? Yes! It does!
So, what does that mean to you when you are holding onto TBC coins? It means that you GET PAID for every person that you recruit. It also means that you GET PAID when they recruit too. Not only that, you GET PAID when the people that got in before you recruit. If you could imagine putting the whole TBC community into some form of an MLM structure, then you could also see that you GET PAID whenever someone from a sideline from you recruits. Recruiting is easy, so it is always flooded!
From all the information above, we can clearly see that TBC is not a cryptocurrency but rather functions extremely like a ponzi scheme. It is clearly trying to use the cover of cryptocurrency to disguise its real functions. And based on the recent experience we had in the country with ponzi schemes, I think we’ll all agree that they are really bad news.
So I’ll advise everyone to steer clear of this TBC scam and avoid losing their hard-earned money to these unscrupulous individuals.
Make sure you share this with someone.