Have you heard of TBC Coin exchange? During the time when ponzi schemes like MMM and the rest of all other MLM schemes where at the peak of their reign, comes this raving scam coin called, The Billion Coin (a.k.a One Billion Coin).
This coin claims to be the rival that will challenge Bitcoins, but based on logistics, it never had any Cryptocurrency analytical background and historical origin. Somehow, it found its way to gain exposure in Nigeria.
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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 weather 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 claimed the creation is with a concept to end poverty globally, and bringing a sort of balance between the rich and the poor. 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 (TBC formula: The Price = Number of Verified Members x 1€). This means, if TBC reaches 1 billion users, each TBC coin will be
worth 1 billion euros.
As regards to the owner, there is no visible face tagged to it. It has an admin known as Kris Kringle who is in charge of this huge scam. “Kringle” is a small unit of TBC such as the cent is to dollar and Satoshi to Bitcoin.
The membership agreement in The Billion Coin Exchange
They always warn that all buying and selling of TBC must be done at the billion coin current price. They specifically warned that selling or buying of TBC at discount price is forbidden and that there will be consequences. They also insisted that there should be no giving out of The Billion Coin as gifts; anyone found guilty will be punished. A Severe warning is being issued out to anyone who goes against its membership agreement.
Punishments for going against agreements of One Billion Coin
The Billion Coin admin made it clear that anyone who defiles its agreement policy will be given a six months suspension without warning. At least, this was the initial punishment until recently, as they intensified the punishment to deactivating and deletion of the defaulter’s account entirely.
The Billion Coin Official websites
As the time, there were many websites aclaimed as The Billion Coin website, and it’s about six official websites:
Principle of The Billion Coin
Cryptocurrencies are designed to operate as a decentralized 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, even though, the miners are not shown on their public ledger.
Typically, cryptocurrencies 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 (i.e. no blockchain and no records of transactions).
The Billion Coin (TBC) Calculator/Calculation
The Billion coin is said to be using a software formula that measures the growth of its verified members and hence compensates the growth adequately. It works based on the principle that one Euro multiplies the total number of its verified members. Now let’s say that they have one million verified members, what it does is multiply one euro by one million which is going to give us one million euros, and then it gives out one million euros as the price of The Billion Coin per euro. It is also stated that the price of TBC will continue to grow by 1% – 5% daily until it gets to one billion per coin hence the name – One Billion Coin.
TBC is expected to behave like other cryptocurrencies that uses market forces to determine their price/value, rather, The Billion Coin uses a formula that tends to promote the coin at intervals – this principle defies all financial logistics.
Rewards for Joining The Billion Coin Exchanger Program
Just like every other ponzi scheme, the billion coin (or tbc) price keeps going up, and it is being determined by the recruitment of people who use the the billion coin app (as well as, tbc login) to maximize the number of people that uses its app; like the billion coin wallet. If you have 1TBC when they were 1000 verified members then when you recruit in a group or individually and it gets to 5000 verified members you have simply earned.
Final thoughts on The Billion Coin Exchange
I will conclude that, The billion coin (TBC) is not anywhere close to being a cryptocurrency, and shouldn’t 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 is very slim as they claim it will go public if they reach 1 billion users which will never 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 to the proof
- The billion coin (TBC) is not listed on coinmarketcap which is the standard repository of digital currency in the crypto world.
- 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.
- 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.
- It makes uses of a multi level marketing system to get new members.
- 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.