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 Replies: 17 / Views: 2,731 |
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Valued Member
United States
379 Posts |
I came across this listing and I guess I am a dummy because I cannot make heads or tails out of it, or how it works. Different tiers? The crypto (?) coin "app" will increase in value to 10K once a "tier" has been reached? It almost suggests some kind of Ponzi scheme of sorts, but since I am ignorant about it, I withhold judgement. I just cannot make out how it is supposed to work. I checked the seller's feedback and he seems to make his living off of selling tweezers on ebay. Personally, I would not touch it with a 10 foot pole, but I have an open mind. I would be curious if anybody out there could explain how it works. I just do not trust it, but then again, I did not trust bitcoin when it first came out, so I would be the first to say that I am not exactly what you might refer to as a genius in this area. https://www.ebay.com/itm/American-D...100005.m1851as mentioned in the listing... for 100 "coins"? (scratches head) billions and trillions? "Once the masses discover the rarity of WHALECOIN, we expect the price to explode. And with cryptocurrencies now classified as a safe haven for money, and once we finally see the Everything Bubble pop, WHALECOIN will go exponential as billions of people and trillions dollars rush to get in." ? mike Edited by 4504
05/08/2020 3:11 pm
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Forum Dad
 United States
24150 Posts |
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Pillar of the Community
Canada
857 Posts |
Pyramid scheme? Probably.
Delusional seller?
No question.
Good buy?
You probably thought I was gonna say something positive about this, well sorry, but nah, you're better off just buying a physical ounce.
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Bedrock of the Community
United States
10284 Posts |
Stick with his tweezers and you'll be OK.
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Pillar of the Community
United States
2835 Posts |
The creator is completely delusional regarding the adoption & success of his concept. He/she trying to compare his creation w/ BTC. Why would anyone need this when BTC already exists? The creator is hoping to create artificial hype w/ the rarity factor being the primary selling point. The creator has designated a valuation for his creation, w/ nothing to back it up, other than the supposed rarity factor & comparison to the price of 1 oz. of gold. With the limited supply, why stop at $2,000 or $10,000? Why not $100,000 or $1,000,000? There has to be a supply vs. demand ratio which clearly does not exist. I can understand tangible concepts, if he were Ferrari and selling 100 Limited Edition cars, sure. He's just throwing out there to see if it sticks. I'll give him an "A" for effort but unless someone like Warren Buffet adopts it, its never gonna fly.
Anybody can create a crypto-currency and call it whatever they want, as there are literally thousands of them. It reminds me of the late 90's/early 00's of the internet bubble and we know how that turned out. A few crypto's will probably survive but the mast majority will fade away into oblivion.
Edited by coin rejector
05/08/2020 4:45 pm
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Pillar of the Community
United States
2835 Posts |
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Pillar of the Community
Canada
857 Posts |
Quote:
.Funny, I just looked this up.... there is already a crypto-currency referred to as, WhaleCoin, currently trading at $0.000699 And they farthings would be impractical in today's market.  |
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Pillar of the Community
Canada
5239 Posts |
It is just another crypto currency, as good or bad as any other. All the other words are just an attempt to baffle potential buyers. Yes, it is true that if the "masses" wanted it the price would rocket, but so would the price of anything if the masses wanted it, such as toilet paper and hand sanitizer.
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Pillar of the Community
United States
2835 Posts |
@Numis-Northerner.... Of the 5000+ crypto currencies, https://coinmarketcap.com/all/views/all/ , the vast majority are priced & trade similar to OTC listed sub-penny stocks. I agree, extremely impractical to utilize, other than to trade in & out of on a crypto-exchange. |
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Pillar of the Community
United Kingdom
709 Posts |
The whole thing stinks!
"safe haven for money". Really? I bet it is safe ( but not for you ). You put money in, he takes it out. Simple.
( edit: look up "onecoin" on wikipedia )
Edited by Anaximander
05/09/2020 07:21 am
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Pillar of the Community
Canada
5394 Posts |
Dealing with someone selling tweezers ..........you are looking to get ..........PLUCKED !  |
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Valued Member
 United States
379 Posts |
It just seems to me to have all the credibility of those one billion dollar Zimbabwai notes that can be bought for cents. No, I would not touch it or even seriously think about it, I was simply after a few opinions from those who would have more knowledge in this area. I can just imagine my pride... taking out my phone, showing it to someone and telling them I have millions of dollars in it. just makes no sense to me. I noticed that there was one "buyer" and I would bet you dollars to donuts it was the seller himself in an attempt to "get the ball rolling". Thanks for your replies and common sense... mike
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Pillar of the Community
United States
2835 Posts |
It seems as though the ebay listing has disappeared. |
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Forum Dad
United States
24150 Posts |
Don't know what could've happened.  |
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Pillar of the Community
United States
2835 Posts |
@bobby.... Right? Its truly unfortunate this once in a lifetime opportunity eluded us all the chance to invest, oh well.
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Pillar of the Community
United States
4415 Posts |
I'd sooner put my money in this ....  |
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Replies: 17 / Views: 2,731 |
Posted 05/08/2020 3:46 pm
