Bitcoin Alternative LEOCoin Linked to Suspected Pyramid Scheme

[Coinbuddy]

The latest bitcoin alternative to garner media attention, LEOCoin has so far trumpeted the more than 130,000 merchants that have allegedly signed on to accept it as payment.

This claim, the headlines assert, suggests that LEOCoin is quickly gathering interest from an international community. However, representatives of the project have for more than a week been unwilling to provide support for these statements.

Despite requests, LEOCoin has not provided a list of merchant partners or a white paper detailing the specifications of its “revolutionary” cryptocurrency. The silence on the matter takes on a new light when examining the history of project founders Dan Anderson and Atif Kamran.

READ HERE: http://www.coindesk.com/bitcoin-alternative-leocoin-pyramid/

[coinableS]

What a surprise, a super overhyped shitcoin claiming to have over 100K users before it even launched now labeled a possible scam?
I hope nobody put a single satoshi towards this crap. Their logo is even a total ripoff from litecoin.

[NyeFe]

What a surprise, a super overhyped shitcoin claiming to have over 100K users before it even launched now labeled a possible scam?
I hope nobody put a single satoshi towards this crap. Their logo is even a total ripoff from litecoin.

The funny thing is most people reading this, like me, would have never heard of it before. How they achieved over 100k international merchants is indeed a 21st Century miracle

[IDKwhatimdoing]

Another day, another crapcoin with false promises. Fortunately Bitcoiners now know how to filter these things!

[Alley]

There exchange order book is a joke.  They have 2 buy orders for less then a penny.  The spread is huge as ask orders start at 22 cents.  24 hour volume is $300.  2nd largest currency my ass lol.

[Hazir]

Despite requests, LEOCoin has not provided a list of merchant partners or a white paper detailing the specifications of its “revolutionary” cryptocurrency. The silence on the matter takes on a new light when examining the history of project founders Dan Anderson and Atif Kamran.

When do people understand that already have one revolutionary cryptocurrency. And it is bitcoin, simple as that, how many scamcoin, thrashcoin and shitcoin it will take for people to learn. Didn't they see PayCoin in the past or dozen others altcoins with 'godly' potential? Stop wasting your time and effort on altcoins already!

[TheMage]

Here is their business model in case anyone is interested.....seems really shifty.

http://my-leo-business.blogspot.com/2013/03/leo-learn-earn-own.html


Also pretty miffed they copied Litecoin logo.

[Alley]

Sad part is how all these crypto news sites promoted the coin as a new challenger to bitcoin.  Wonder if they got leocoin as payment for writing a article.

[NyeFe]

Sad part is how all these crypto news sites promoted the coin as a new challenger to bitcoin.  Wonder if they got leocoin as payment for writing a article.

+1
I really hope they did

[snarlpill]

I read the CoinDesk article and then checked out their Buy-LeoCoin.org site, and the whole site is just riddled with so many typos and misspellings, it just seemed the farthest thing from a professional business plan in my mind. Besides that though, every other thing about them and their "revolutionary" new coin just screamed SCAM on so many levels. Wouldn't get involved with this with my enemy's funds....

[TotalPanda]

https://www.youtube.com/watch?v=T3TZ6is0YkI
 

[EvilDave]

That is just frigging hideous.....looks like the more traditional financial scammers are starting to use crypto, instead of selling snake oil, timeshare or crappy 'investments'.

Two basic rules of not being scammed:
If you are told that you need to bring more people in to the program in order to maximise your own investment, you're in a pyramid scheme.
Don't fall for the flash parties. Who's paying for them ? Yeah...it's you.

[Sythyn]

That is just frigging hideous.....looks like the more traditional financial scammers are starting to use crypto, instead of selling snake oil, timeshare or crappy 'investments'.

Two basic rules of not being scammed:
If you are told that you need to bring more people in to the program in order to maximise your own investment, you're in a pyramid scheme.
Don't fall for the flash parties. Who's paying for them ? Yeah...it's you.

Listen to this man.

[solid12345]

Unfortunately they're still less corrupt than probably 90% of the alt devs on this forum. At least they stick to their scam instead of rolling out a new one every week like shitcoin makers.

[Nxtblg]

What a surprise, a super overhyped shitcoin claiming to have over 100K users before it even launched now labeled a possible scam?
I hope nobody put a single satoshi towards this crap. Their logo is even a total ripoff from litecoin.

The funny thing is most people reading this, like me, would have never heard of it before. How they achieved over 100k international merchants is indeed a 21st Century miracle

The same way that getting an affiliate account at Amazon enables you to open a digital store with over 100K goods in "inventory".