The Texas State Securities Board (TSSB) Just Issued ANOTHER Cease And Desist Order, Only This Time To DavorCoin... If You're In The Davor Ponzi, GTFO Now!

in #cryptocurrency3 years ago (edited)

Are we about to see another lending ponzi go up in flames (this time 100x faster then the last one)? I don't think it takes much imagination to see what happens next... Basically if you were dumb enough to invest in davor (Bitconnect in fast-forward) get whatever money you can off the platform as soon as you can, unless you want to re-live what happened to Bitconnect just a few weeks back.

Texas Issues Cease And Desist Orders To Cryptocurrency Lending Platforms
Filed on February 2, 2018, another "Emergency Cease and Desist" order has been issued by the Texas State Securities Board (TSSB), this time against cryptocurrency startup DavorCoin.
...
The TSSB said that DavorCoin did not reveal the methods it will use to generate profits, nor did it disclose where the business operates. In addition, DavorCoin did not identify who was operating the company, on grounds that "due to tax and regulatory risks," it would be unable to "officialize its domiciliation."

https://www.ethnews.com/texas-issues-cease-and-desist-orders-to-cryptocurrency-lending-platforms

Please for the love of god people, stop investing in obvious ponzi's as the larger these toxic crypto platforms get the bigger the negative impact they could potentially have on the entire crypto space. The fact that so many people didn't learn their lesson from Bitconnect is truly amazing (and the fact that many of the same people that were shilling Bitconnect instantly jumps to shilling Davorcoin after BCC collapse is even more unbelievable and should have sounded the ponzi alarms).

Basically the crypto space is about to change big time in the coming months, and going forward people better start investing in SUBSTANCE instead of SPECULATION or worse yet, downright SCAMS, if they wan't to keep their profits in the long run. All these ponzi platforms are going to crash and burn, and will do so in a much quicker fashion then they did in the past. On top of that many of the over-hyped cryptos that had major runs in Nov/Dec are going to have a much tougher time reaching their all time highs once this (fairly major) correction comes to an end, as I feel many investors are going to instead be moving their investment into more established cryptos that have a RELEASED platform/product and help solve actual real-world use cases (not coins that platforms are coming years from now, or coins that promise the world yet have delivered nothing...).

Anyways, just my 2 satoshi's...

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Thanks for your informational post. So helpful for rookies like me.

Great post. Re steemed.

Debemos de ser sabio y tener sentido común a la hora de invertir en esas plataformas.

Translation: "We must be wise and have common sense when investing in these platforms."

I couldn't agree more, and the more people are chasing "fast gains" the more likely they are to get burned... especially right now.

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