IS THORN COIN A SCAM???
ThornCoin reminds me of KnoxCoin which was an exit scam that was hyped up by a popular youtuber. He got his viewers to make youtube channels to shill the exact same ICOs. I'd be very careful with this one as everything about this site is very similar to Knoxcoin.
For those that don't know what happened with KnoxCoin, the "Wolf pack leader" shilled the crap out of it and it came out of no where. It was intended to be both a lending platform AND a casino. He announced it literally a few days before the first ico round was to be launched. The site had issues such as not sending out e-mail verifications out until 3 or 4 days later with the wrong name. People reported the deposit address changing in real time and that the eth or btc never reached the site's wallet.
About an hour before the ico launch, he warned everyone not to invest because they locked withdrawals but for most people it was too late. Round 1 coins were sold at 50 cents while round 2 was 70 cents and increased in 10 cent increments for each additional round. This was the reason why many people tried to invest early.
After his warning, the site immediately went "under maintenance". Shortly afterwards, the site was completely wiped with the 401 error. All social media was wiped completely. The same people who are promoting Thorncoin were the ones that posted a confirmation video saying KnoxCoin was a scam.
Yes, this is a Ponzi! Don't invest a single penny in it. It is by far to good to be true!
A lending platform with up to 43% interest per month. Locked capital for a period of time depending on the amount of money you pay. The ability to stake coins for even more "income". And as if that wouldn't be enough a referral program.
That are all red flags. It's actually the same as bitconnect.
Just as a quick math example how unrealistic this is. Let's say you put in $10.000 for 2 years. On a bank account you'll earn probably 0,02% interest (about $4). Stocks will give you about 5 - 10% (about $1025 - $2100). Bitcoin gave you the last 2 years over 2500%, which is already more than insane. This would've made your $10.000 into $250.000. And what dows ThornCoin say: Up to 43% per month. Let's calculate with the maximum 43%:
with $10.000; 43$ interest; 24 months
This is not possible! Never! Ever! No!
I haven't heard too much bad news on this platform but I do agree it sounds too good to be true. Is there a solid platform out there? I'm just asking because I don't know.
Realy bad, lock investment.
Biiiittttcooooooooonnnnnnnnneeeeeeeecccctttttt! 2.0
Thanks for the heads-up!
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