Scammers are getting highly innovative these days. The turbulent ICO space has its fair share of all shades of these scams. That some have near-flawless panache that they easily sweep the gullible off their feet is enough reason for concern.
This is why regulators are working round the clock to find ways of reigning in an ecosystem that is described as decentralized. And reviews need to be more indepth and more investigative to make a difference.
Phantom initial coin offerings have become an attraction to these fraudsters that the best way of describing the scenario is that you can be sure that you will lose money if you are guided by your emotions and whims whenever you encounter the marketing copy of these ‘teams’.
For instance, the New Billion Coin (TBCNEW) was described in a most complimentary manner in the ICO website.
According to the copy, “TBC coins are the most valuable coins in the world because they are ‘abundance based’.”
The website went on to describe a wealth creation stage of its global roll-out that will make participants of the project millionaires and billionaires from a one-time purchase of TBC.
This however is a clever way of appealing to the greed of individual potential investor to buy the scam token.
In this review of the TBC, you will discover why you must not get near this ICO and many such as this out there.
Ordinarily at Cryptoinfowatch, we prefer a systematic approach to reviews of scams, however that approach will not be employed in this TBC New coin review because this is one scam too bold and daring. A scam too brash that its appeal to the gullible is high.
What is the New Billion Coin (TBC)?Like all brash scams, there is no clear explanation of the mechanics and economics of the New Billion Coin. Rather, the website paid most attention on telling anyone who cared to listed how they would be made millionaires and… Click To Tweet
Its closest explanation of the coin is where it reeled out how the token will shoot straight to the moon from oblivion,
“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.”
On its valuation, it went on to say:
“The Current Price is increased once every 24 hours according to the Formula embedded within the software until it reaches its Ultimate Price. The value of The Billion Coin is not attached to the volatility of the markets; and both Buyers and Sellers of TBC use the Current Price to conduct transactions.”
Now it should be obvious to anyone with an iota of sense that they are dealing with a scam here. Yet at Cryptoinfowatch, we are aware that this is the sort of scam that many people fall for due to greed. This is the essence of putting up this scam alert.
At What stage is the Project?
According to information available on the website, the Project has been in development since March this year. It plans to complete its roadmap by February 2019.
Ordinarily, this should be a clear signal that this is a scam project because no genuine project is initiated and completed in the coin ecosystem in just 10 months. Only exit scams do…and that is exactly what this project is.
The phantom roadmap claims that by February 2019 when the project would have run its course (exit scammed people), the TBC coin would be worth $50,000.
Who Are Behind the TBC Project?
As expected from an obvious scam such as this, there is no link to the social media profile of the founders. Rather the site exhibited the images of three ‘consultants’, Roger W. Harris, Zachary D. Schroeder and Donna K. Fleet.
Though there was no social media link to the images, a reverse search of these photos showed the IDs (names) to be fake. The photos were stock photographs of people randomly pulled from the internet.
What we have learned is that whenever a project uses a fake team, that project is a fraudulent one even if it is just one team member that is fake. There is a reason why fraudsters keep their IDs hidden – they do not want to be caught.
The New Billion Coin is another not-so-smart yet enticing scam that plans to defraud investors of their money. The ICO billed to commence in 5o days is a sham. People putting money in this project will come to grief. Beware!