Have you heard of The Billion Coin (TBC)?
During the time when ponzi schemes like MMM and the rest of all other MLM schemes where at their peak of reign, comes this raving scam called TBC (a.k.a The Billion Coin).
This coin claims to be the rival that will challenge Bitcoins, but based on logistics, it never had any Crytocurrency analytical background and historical origin. Somehow, it found its way to gain exposure in Nigeria.
A lot of people are currently buying this scam coin with the mind and baseless assumptions that it will soon have a blockchain and also become a popular coin just like Bitcoin.
Anyways, I will not discourage anyone who still wants to buy this particular coin after reading this, but in my own opinion, I will say that this is a huge scam waiting to engulf every asset it can attract before disappearing into the thin air. Before we conclude on weither it’s risky to invest in it or not, let me use this opportunity to differentiate and also exposure the historical analysis I personal made concerning this coin in particular.
What is The Billion Coin (TBC)?
The billion coin (TBC) claims to be a cryptocurrency that was invented in March, 2016, but by who?
However, it also claimed that it’s market value and price increases on daily basis, and never goes down in value which means it is not in anyway affected by the logic of the market which is based on the demand and supply of a cryptocurrency. The billion coin is claimed to be a user based and is determined by the number of verify users — who are these verified users and on which terms were they verified?
TBC formula: The Price = Number of Verified Members x 1€.
Which means if TBC reaches 1 billion users, each TBC coin will be
worth 1 billion euros.
In my own opinion, it can be concluded that TBC’s ideology is totally different from the concept of all other cryptocurrency which is seen as a digital medium of exchange that is made possible by some certain cryptographic principles.
Crryptocurrency are designed to operate as a decentralised and an open source they are either base on the proof of work or proof of stake. TBC claims to be based on the proof of work, but the miners are not shown on their public ledger.
Typical cryptocurrency like bitcoin, ethereum, dash, litecoin and ripple and many others utilizes the blockchain technology the right way by making use of encryption techniques to create and secure transaction, while TBC seems to be doing the opposite — no blockchain and no records of transactions.
In conclusion The billion coin (TBC) is not a cryptocurrency and should not be regarded as one. In the traditional sense, it’s the opposite of the cutting edge of financial revolution cryptocurrencies has come to offer. TBC has zero innovations, poor and inactive community the website as am writing is currently down.
According to my discovery, The Billion Coin (TBC) which claimed to be a peer to peer internet currency could turn out to be a potential scam, because it’s not genuine or legitimate.
However, the chances of TBC becoming legit slim as they claim it will go public if they reach 1 billion users that I doubt that will ever happen considering the way the price is artificially controlled.
Till then don’t put your hard earned money on TBC
Here’s are some additional facts th prove that The billion coin is not a cryptocurrency.
1. The billion coin (TBC) is not listed on coinmarketcap which is the standard repository of digital currency in the crypto world.
2. The value of TBC is claimed to always go up even refuting the law of gravity. The values is not base on the demand and supply of the coin and it’s not speculative.
3. No reliable online exchange is listing the billion coin (TBC) on their exchange that means if the users by the time the coin crashing users who obtained it will be left with a worthless coin. This should be a concern for TBC members as you can not exchange your coin to any digital or fiat currency but only to a fellow member.
4. It makes uses of a multi level marketing system to get new members.
5. The billion coin (TBC) has no source code, no white paper, road map and worsen it is artificially mined as the miners are not displayed on the public ledger.