TheBillionCoin-The Worst Crypto Scam

Cryptocurrencies are certainly the way of the future as they will provide not only wealth to early adopters but also lots of use cases in the world. In view of this, Understanding of how cryptocurrrency works remains pertinent.

What are cryptocurrrencies?

Cryptocurrencies are digital currencies designed to function as medium of exchange using cryptography(encryption) techniques to secure transactions and create additional units of the currency. Examples of cryptocurrrencies already making waves today are bitcoin, ethereum, ripple, litecoin, stratis, omisego and others. Infact, there are many cryptocurrrencies in the market in the market.

The value of a cryptocurrrency is mainly determined by its demand and supply. This simply gives the explanation that as more people ask for a commodity, the higher the price goes and also the more reasonable the supply that commodity is, the more people will want to trade it which will also increase the price. Demand here is based largely on two strong factors: The utility of the cryptocurrency and speculation. Utility is the ability to make use of the said cryptocurrency to buy things or to pay for things that you want. Speculation is the belief that the cryptocurrency may one day be worth much more than they are worth now, i.e. future utility.

Nevertheless, there are many cryptocurrrencies which have been created out of greed to scam people out of their hard earned money. One of which I had fallen for is the so called "THEBILLIONCOIN". This scam I fell for as a noob had left me with the deepest regret.



What is TheBillionCoin?

TheBillionCoin claims to be a fully decentralized peer to peer crypto currency somewhat like bitcoin but it operates on its own principle, created with a concept of ending poverty globally(by scamming unaware) and having a formula whereby its value grows based on the billion coin’s community growth. .The chart below shows how TheBillionCoin claims to have it’s price go up every day to lure more people.

TheBillionCoin claims its market value increases daily. When TBC first came in, its opening price was €0.001 and has supposedly gone up in value by 5% ever since that day. Off course, that sounds way good to be true, the objective is to attract new members and comforting them with the idea that they can become millionaires within a short period of time. It is a fact that most of the new members are people who don’t have a true understanding of what cryptocurrency is and how it works.

Why is TheBillionCoin Not a Cryptocurrency?

Highlighted below are the reasons why the so called coin is not a cryptocurrrency;

•TheBillionCoin(TBC) is not in anyway listed on coinmarketcap.com , that is by far a major red flag against “TheBillionCoin”.

•Its value always goes up. That is not supposed to be, unless its value is determined by the owner of TheBillionCoin and not by the market because there is no cryptocurrency which its market value goes up at all times.This also pretty much applies to every other market in history like stocks commodities e.t.c. It is just a mechanism to look for more members.

•There is no open market supporting this coin. it has no liquidity whatsoever. If at any time this scheme was to fall, all the members will only have a worthless coin, because members cannot sell their coins anywhere. There’s actually no legitimate exchange platform for the billion coin, a quick search on google will reveal to you.

•It uses a Multi Level Marketing Model

•Uses testimonials and the idea of their trickery of a millionaire board into getting new members.

•It can not be mined, Some serious issue to think about right? How then are more coins generated?

•. It has a bad reputation on Reddit and on the Bitcointalk Forum.

•Users get banned without Warning. Its users have several complaints about their accounts being banned without prior warning, this might happen when they sell their coins at a cheaper rate or whatever reason they choose to ban for. You will lose your coins forever.

•TBC – TheBillion coin has no open source code, it has no roadmap, it is being controlled by its owners.

•After their supposed upgrade, TBC blocked the SEND BUTTON on all user accounts and it is required from every user to pay an annual fee of $10 before the re activation of the SEND BUTTON and only this can make you become a Trusted Seller. "what a LOL".

THINGS TO TAKE NOTE

•The Billion Coin, in short, is an unreasonable investment. However, when you visit thebillioncoin.info, the creators behind this operation portray the site as an investment community and private group that revolves around the principles of generating profits by depositing bitcoins into their decentralized platform. While the thought of joining an exclusive “community” of crypto-oriented investors may sound appealing to novice Bitcoin capitalists, the actual practices being practiced by TBC are no less than theft.

•No information can be found in regards to the owners of the website. No corporate, ownership or creator information is divulged on the Terms of Use, Contact Us or any other pages found on the website. A domain report will also reveal that thebillioncoin.info was registered privately which makes it nearly impossible to come across any reasonable information pertaining to the creators behind the site.

CONCLUSION
TBC bullshit is the worst scam of the century, a cryptocurrency without an exchanger, without any active community.TheBillionCoin investment program is a deceptive Ponzi scheme targeted towards gullible cryptocurrency investors. The alleged return on investment s promised through the TBC community are unrealistic and I can assure you that by putting your faith with this operation will result in no less than the loss of your money. Do not invest your hard-earned money with any kind of investment site related to thebillioncoin scam. Any type of investment that isn’t straightforward about it's identity or promises returns that reside outside the realm of realistic.