Post
Topic
Board Archival
Re: AltCoin discussion
by
kytra
on 19/02/2018, 22:46:06 UTC
Wrong, wrong, wrong!

You cannot compare Firstcoin to a normal crypto currency, even with a bad project. Firstcoin its a Ponzi and it is set to failure math wise.
Short ex: you go for 25k package. Your sponsor gets 20% affiliate commision and you get a 10% insta bonus, lol.  You get a 7.5%/month for staking, so in 6 months they have a ROI of 75% (20+10+6x7.5), without their profits. Ohh… great...they must be some kind of markets geniuses. I wonder why Wall Street doesn’t hire them.

A ponzi goes down when there are not enough new members, and it goes exponentially.
So when they have 10 mil members for ex, they need at least 30 mil new signups next 6 months.. And then 100 mil, 500 mil etc..
And lets say bitcoin users gets to 300 mil people. Do we need more to sustain? No… and there is the difference between a healthy  ecosystem and a ponzi sht.
If you believe that ATMs and Paulownia trees are projects to sustain that kind of grow then you are naive…

Transparency: Where are their invoices with Trees bought and ATMs? Who makes the ATMs? What stage are them? etc etc..

So obv its not a sustainable business model and as soon as people stop investing the pyramid falls.

I am sure in a max 3 months they will come with an announcement similar with bitconnect and davorcoin. They will say that its a lot of FUD and legal issues so they have to close the staking program. And will refund people with useless Firstcoins ...
Maybe even sooner... 1 month...

Sry for your loss.. GL next time!