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    Thread: The Rush For The Billion-Dollar coin: CAUTION!

    1. #1
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      Default The Rush For The Billion-Dollar coin: CAUTION!

      From my elementary school days, i had always believed and i still believe that money is not gotten freely. The advent of the billion-dollar coin might prove me wrong, which i strongly doubt. I heard about this cryptocurrency about 10 months ago and i showed no interest.

      In my country, Nigeria, a lot of people now go for the billion-dollar coin as it promises to turn each and every holder to millionaires within a short time. Now, becoming a millionaire is not a bad thing, at least, i have a project where i intend to turn $15.50 to millions! The bad thing is that you can not just keep money somewhere without using it to work and you expect huge profits like tbc promises.

      For a purchase of tbc kringles worth $50, the promised increase would be close to $1500 in 5 months and it keeps going at that rate every 5 months!

      Now, my fears:

      1. Affiliate commission as high as 30%

      2. Agents advertise that tbc could be used to make purchases of goods and products. But on getting there the tbc holders discover that would be at 70% cash down payment and only 30% would come from the tbc they hold. To worsen it, the products would be available for collection after 2 weeks.

      3. Incredible fixed increase rate on a daily basis. No depreciation whatsoever unlike bitcoin which increases and decreases in value on a daily basis.

      4. No local electronic money exchanger in Nigeria accepts it in exchange.

      5. Holders of tbc are required to pay $1 monthly or $10 yearly as service or maintenance fee. The funny part is that the fee would not be settled with the tbc the clients already have, but via bitcoin!

      6. The tbc exchangers on the internet increased my fear and confirmed my suspicion. A service fee of 0.1 bitcoin has to be paid first before tbc could be exchanged to bitcoin.

      I read a lot of negative talks about tbc on the internet, but one would not conclude yet. Let us wait and see what happens in the next few months!

      If you have not already purchased, be careful! Think twice!
      ''Too many times we settle into a set way of thinking and accept limitations that need not be placed on us'' -John C. Maxwell

      Hedging Edge: Heading For $6 Million!

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      forexguy9 Thanks for the reminder, I think people are often blinded by greed. These are the people that often get burnt. Lessons in history, Like subprime crisis and Madoff investment scandal. Seems like people are still willing to jump on the next big wave. The people that are in early would make money, those at the tail end would crash

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      Quote Originally Posted by Dixie View Post
      forexguy9 Thanks for the reminder, I think people are often blinded by greed. These are the people that often get burnt. Lessons in history, Like subprime crisis and Madoff investment scandal. Seems like people are still willing to jump on the next big wave. The people that are in early would make money, those at the tail end would crash
      yes i agree with you mate. many first users will be able to sell or transfer the billion dollar coin since there is crazy rush for it. but the those who get it later will be the scape goats. a word is enough for the wise.

      My Trading Journal: The Senior Newbie Journal

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      Quote Originally Posted by forexguy9 View Post
      From my elementary school days, i had always believed and i still believe that money is not gotten freely. The advent of the billion-dollar coin might prove me wrong, which i strongly doubt. I heard about this cryptocurrency about 10 months ago and i showed no interest.

      In my country, Nigeria, a lot of people now go for the billion-dollar coin as it promises to turn each and every holder to millionaires within a short time. Now, becoming a millionaire is not a bad thing, at least, i have a project where i intend to turn $15.50 to millions! The bad thing is that you can not just keep money somewhere without using it to work and you expect huge profits like tbc promises.

      For a purchase of tbc kringles worth $50, the promised increase would be close to $1500 in 5 months and it keeps going at that rate every 5 months!

      Now, my fears:

      1. Affiliate commission as high as 30%

      2. Agents advertise that tbc could be used to make purchases of goods and products. But on getting there the tbc holders discover that would be at 70% cash down payment and only 30% would come from the tbc they hold. To worsen it, the products would be available for collection after 2 weeks.

      3. Incredible fixed increase rate on a daily basis. No depreciation whatsoever unlike bitcoin which increases and decreases in value on a daily basis.

      4. No local electronic money exchanger in Nigeria accepts it in exchange.

      5. Holders of tbc are required to pay $1 monthly or $10 yearly as service or maintenance fee. The funny part is that the fee would not be settled with the tbc the clients already have, but via bitcoin!

      6. The tbc exchangers on the internet increased my fear and confirmed my suspicion. A service fee of 0.1 bitcoin has to be paid first before tbc could be exchanged to bitcoin.

      I read a lot of negative talks about tbc on the internet, but one would not conclude yet. Let us wait and see what happens in the next few months!

      If you have not already purchased, be careful! Think twice!
      Well there are always better ways to make profit out of cryptocurrencies, one of the way that i know is mining and there are basically two kind of mining one is cloud mining and the other one is mining by yourself by asec hardware or graphic cards, if you have 6 1070 cards you can make around 200$ per month, but the problem is as more miners comes in the difficulty rises as well hence you make less

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      Quote Originally Posted by Black Mamba View Post
      Well there are always better ways to make profit out of cryptocurrencies, one of the way that i know is mining and there are basically two kind of mining one is cloud mining and the other one is mining by yourself by asec hardware or graphic cards, if you have 6 1070 cards you can make around 200$ per month, but the problem is as more miners comes in the difficulty rises as well hence you make less
      This is the part I really do not understand, what is mining about. How is it possible for someone mine for something there is not there. How can someone keep track how much has been mined and how much are there is left in the market. If that being the case how can we be certain of the value of Bitcoin?

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      Quote Originally Posted by Dixie View Post
      This is the part I really do not understand, what is mining about. How is it possible for someone mine for something there is not there. How can someone keep track how much has been mined and how much are there is left in the market. If that being the case how can we be certain of the value of Bitcoin?
      As to what is mining ?? it is a kind of process where Your system is used to verify transactions all you need to do is make a home build rig and the more graphic cards you have the more transactions you verify and than in the process you also make some money,
      But if you dont want your own Gpu rig and generate your own Hash power you can also try cloud mining, Usually in mining ROI is in round about year.
      If you are interested i might create a new thread explaining everything in detail.

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      Black Mamba I understood how it works that way.What I do not understand how is how can something be created out of nothing and who keep track of the total volume. Mining for tin and ore I can understand. But it would run out. How is it decide if there are cryptocurrencies or have they run out? Anyway does anyone have information what is the total number of bitcoin in the market right now?

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      This is one of the reasons why the Chinese government banned the ICO that uses Bitcoin as cryptocurrency. The TBC sounds like typical ponzi scheme that says that they are investing in forex, emerging markets etc. But the truth is they are taking advantage of high percentage referral commission so they can recruit more innocent investors.

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      balut If we are looking at it this way, insurance is also a pretty big Ponzi scheme. Look at it this way, the collect money from you and promise that you would get an amount at the end. They collect more and more to payout the people that join earlier. Does that not sound like one. but these days it is one of the biggest business in the market. I am not sure how it would work, but cryptocurrencies is getting pretty big, and with some support, they might turn to be mainstream business.

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      Every online market comes with a caution, either its forex trading, stocks trading or the bitcoin business, you just have to be careful and only invest the amount of money that you can basically afford to lose such that if the investment goes under your portfolio will not be badly affected.

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