[2017-03-16] Dissecting Swisscoin – Another Rising ‘Cryptocurrency’ Ponzi

[TwoTimes]

Just recently Bitcoin.com reported on the Nigerian SEC Association’s warning about Multi-Level-Marketing (MLM) ‘cryptocurrencies’ such as Onecoin and Swisscoin. Our news team has uncovered quite a bit of shady activity while investigating Onecoin. This week we’ve decided to step into the realm of the so-called Swisscoin economy.

Swisscoin claims to be a cryptocurrency based on a decentralized blockchain, but in reality it operates more like a token MLM affiliate program with an upline and downline structure. Users are instructed to buy token packs paid for with euros or bitcoin as well as recruit members to join the Swisscoin organization. The project officially launched on June 4, 2016, and is reportedly run by the company director Manfred Mayer, a man with an extensive background within network marketing and MLM.

Read More Here: https://news.bitcoin.com/dissecting-swisscoin-cryptocurrency-ponzi-horizon/

[mstrx]

http://ccnz.gq/ssvt
http://ccnz.gq/scn
Every new digital asset looks a scam until it becomes announced officially and in  country like DUBAI ...

[Slow death]

Just recently Bitcoin.com reported on the Nigerian SEC Association’s warning about Multi-Level-Marketing (MLM) ‘cryptocurrencies’ such as Onecoin and Swisscoin. Our news team has uncovered quite a bit of shady activity while investigating Onecoin. This week we’ve decided to step into the realm of the so-called Swisscoin economy.

Swisscoin claims to be a cryptocurrency based on a decentralized blockchain, but in reality it operates more like a token MLM affiliate program with an upline and downline structure. Users are instructed to buy token packs paid for with euros or bitcoin as well as recruit members to join the Swisscoin organization. The project officially launched on June 4, 2016, and is reportedly run by the company director Manfred Mayer, a man with an extensive background within network marketing and MLM.

Read More Here: https://news.bitcoin.com/dissecting-swisscoin-cryptocurrency-ponzi-horizon/

Scammers are everywhere, but in the last years they are more active in the creation of crypto-coins

Scammers have discovered gold mine, every coin that these scammer create can steal many bitcoins, a very sad and unpleasant situation

http://ccnz.gq/ssvt
http://ccnz.gq/scn
Every new digital asset looks a scam until it becomes announced officially and in  country like DUBAI ...

I agree and I will add india and philippines

[iamTom123]

While many can be legitimate cryptocurrencies that got real values in the marketplace, there are many who are taking advantage of the lucrative global crypto market. Here, they can make digital coins out of thin air that can be disguised as the product and hence can for the meantime avoid being sued as just another ponzi. This is the reason why many are avoiding coins using the MLM way of distribution. We just have to be careful in buying coins and not just listen to how these fellas can be appealing to our innate greed and the chance to make some nice profits.

[buwaytress]

Unfortunately, the prefix "Swiss" has been attached to countless physical ponzi set-ups, especially popular in Southeast Asia, where the affiliation with wealth and offshore tax havens have lent credibility to these schemes. Swisscash, Swisspay, Swissmint, SwissGold are a few I can remember - I don't doubt it's the same people behind these MLM style scams.