Bolivarcoin: New Shitcoin!
In my previous post I addressed the issue of money laundering and cryptolaundry. We saw how it is possible to "hide" the BTC transaction chain with the use of the so-called "Mixers".
But what if some person or criminal organization with a lot of power is able to unroll their own Cryptocurrency or their own Blockchain with the intention of carrying out money laundering from their illegal activities?
I am not with this asserting that the Venezuelan Government is resorting to this practice, but taking into consideration all the active complaints in the international organizations of administration of Justice that point to the Venezuelan Administration, it raises a lot of suspicion the fact that they are developing their own cryptocurrency which would be controlled through the Central Bank of Venezuela (BCV).
As many know, in 2017 President Maduro announced the creation of the cryptocurrency called PETRO.
But now I have heard about the launch of a new cryptocurrency called "Bolivarcoin" (BOLI).
When I find out about the existence of any new token or cryptocurrency, I always look for it in Coingecko.
That is, for me, if it does not appear in coingecko, then it does not exist.
I had a big surprise when I found it listed:
Source
So I had to do a little more research ...
The first aspect that caught my attention was the domain of the website: "https://bolivarcoin.ml/", this refers to MALI, a country in Africa. However, the ml domain has become very popular in recent times, as it is one of the domains that you can get for free.
So why would a project that launches a cryptocurrency and that would supposedly be backed by the BCV create a website with a free domain?
BCV enables a Node to host a blockchain.
No related announcements have been received from the BCV about the financing of the creation of this cryptocurrency, but according to a Twitter user who conducted an investigation, evidence can be obtained that shows the participation of the financial entity.
To start, he looked up the IP address of the node (200.35.132.80) at ip-tracker.org, where he discovered that both the organization and the AP (Access Point) number associated with the node were registered with the Central Bank of Venezuela .
Source Twitter
Bolivarcoin is one of the smallest cryptocurrencies in circulation, with a market capitalization of $ 194,083. Similarly, it still has almost no trading volume yet, with a BOLI trading index worth $ 71 in the past 24 hours. Those small volumes mean that BOLI is not listed on any major exchange platform.
The following are the Exchanges where Bolivarcoins can be traded:
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I had never heard of them before. And you?
More Inf. & resources:
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Disclaimer:
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Hi @juanmolina
I like reading your posts, short and easy to understand. As far as I know the domain (.ml) you mentioned is no longer free (in my country).
In 2019 I also used a lot of free domains (.ml, .tk, and the like) as you call them.
Really? What is your country?
I didn't know that ".ml" was no longer free. I will investigate about it.
Thank you for your valuable comment.
My country Indonesia.
I used to get the domain you meant here.
It must be very interesting to investigate who is behind these exchanges, because many times this type of operation first creates the exchange and then creates the crypto.
That is how we say in Venezuela.
They pay themselves and return the change.
I think that the vocation of that ancient job you had is still alive in you.
hi @juanmolina
It is so easy these days to create a cryptocurrency as it doesn't take much knowledge to create a token on Ethereum or other smart contract systems. It does seem like a strange story and I wouldn't buy it for sure. Perhaps they are experimenting for now and have bigger plans for it as the overall volume suggests it is not worth anything really. It could be just another way of trying to transfer money illegally but someone must feel it is worth some value to trade at all.
This "project" has been around for 2 years already.
Perhaps it is an experiment that never consolidates or perhaps it is to trade "small volumes" of dirty money.
Nunca he oído o leído acerca de estos intercambios, y no es de extrañar, que gente pesada del gobierno actual, tenga sus manos metidas en este guiso también. Así como el petro, pienso que esta cripto quedará en el olvido por no tener circulación, a pesar de los esfuerzos que hace el gobierno venezolano en darle usabilidad (pagando en petros). Sin lugar a dudas, puede ser otra treta para justificar las grandes riquezas que han obtenido durante todos estos años y que ya es evidente a nivel mundial. Pero... lamentablemente la política tiene memoria corta cuando llega algo de beneficio al colectivo... a la clase más desposeída.
Esta es la historia de Venezuela de los últimos 20 años.
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@juanmolina cryptocurrency is very huge market we even don't know about how many shit coins are still running in the market. we just need to be alert.
Being alert is a good option.
The best option in the case is to move away and don't touch it.
Absolutely not.
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