Swisscoin SIC huge Dump!!! Any idea???

[zidane]

SIC was attacked. Now DEV is trying to solve this problem.
You can see the Money Supply in Block Explorer https://www.blockexperts.com/sic
Dec 24 2017: 82000000000.00000000 (82 Bil)
Now: 10200000000.00000000 (10 Bil)
70 billions SIC were burned
And in Coinmarketcap https://coinmarketcap.com/currencies/swisscoin/
Before: 2 bil
After: 10 Bil
10 billions SIC is the right number that DEV did say in this page
https://swisscoinhub.com/start-investment-swisscoin-cryptocurrency/

They were attacked? What happened? I cant find any info about this. For me it is looking very strange, Never saw this before

[Spoetnik]

https://bitbillions.com/is-swisscoin-a-scam-an-honest-swiss-coin-review/
Found that saying it's bad.
And this.. http://behindmlm.com/mlm-reviews/swisscoin-review-25-to-15000-eur-ponzi-points-investment/

So i started looking with a Google image search and i am seeing similarities right away.

- First off both have hired a graphic artists to do a LOT of graphics for the web etc.

- Both seem to use Domain Registration hiding services.

- Both have a series of "My <coin name>" related web pages such as..
https://www.facebook.com/myLEOcoin/
www.myleooffice.com
www.my-swisscoin.com

- Both have a custom made Large & small "Coins" used at "events" see picture below..

Swiss..


LEO..


Swiss..


The bald guy (pictured below) is all over the web with tons of pictures i get the feeling he is running Swiss Coin.


There is Swiss Coin links that span Ukraine.. Germany.. and possible other locations.
No proof it has anything to do with Switzerland.

Big Question i have is this a competing MLM scam or are they operated by the LEO coin crew ?
Off hand i can not tell. all i know is there is a LOT of similarities with out even looking at their coin or scheme details.

..be warned people they are here now. (scammers in full force)

Start doing your homework noobs.

[Kryten12]

That is a pretty spectacular fall

[minion1000]

One thing I learned about the cryptocurrency and crypto-token world is if you have questions about a token, especially if its not that popular you are much better off doing your own sourcing and research because the conversation almost always gets dominated by one or two cronies who have nothing good to say about it anyway. This could ending up costing you a lot of money you might have earned in the future by getting suggestive information and reacting to it wether positive or negative. I always do my own research on a coin, also giving the price u probably dont have to much invested in swisscoin, in other words you probably have a whole lot more to gain than loose, which is a good tactic in my book with this market. It reminds me of bitcoin when it had its huge dives years back alot of negativity would flud the discussion forums as to the same highlights, ponzischeme, hack, finaly bitcoins ecposed, oh and the best one of all, "BITCOIN IS DONE FOR, HISTORY, SO LONG TO BITCOIN"!. Now look at it. Beleive me nuthn is wrong with the negative opinion, its just as meaningfull as the positive one, but we tend to gravitate to the safety of the negative one and stay away, its in %75 of hour programing, the fear of the unknown. So do your own homework, take others feedback very lightly and make sure you have more to gain than you do to loose, especialy in this market, its only 10 months old, there are no experts yet, you have a whole lot of people who stared and watched bitcoin and a few others , lightcoin, eather move up and down for a few years and all if the sudden we have ICO'$ less than a year all this has been goin on, so we are all equill pioneer's, even if you just started learning this stuff this week, we all will be the experts in 4 or 5 years for those of us who stay involved from here on out, we will be highly saut after and our advise will be paid for.

[minion1000]

Thats pretty funny, LOL, the guy with the orange pants, he probably spent acday and a half shoping for that outfit, ill say if it is a ponzi dump, my money is on him having the keys to the vault, he eather thaught the whole sce s m up from scratch or he is the FALL GUY.

[damasked]

I bought a handfull of this coin, and will buy more because i believe in it. Dev should update hub or social handles for reassurance.

[friends1980]

I bought a handfull of this coin, and will buy more because i believe in it. Dev should update hub or social handles for reassurance.

I don't think it's on sale right now

[yanesna3]

I have been tracking Swisscoin for a while now and it went from 10sat to over 200sat and all of a sudden today it just crashed to 1sat. Anyone know why? Their twitter account just twitted 13 hours ago. It's so complicated to understand crypto.

What is to talk about here I don’t understand. See the capitalization of this currency. You and some other guys are only men who hold the coins which have this name. It is like a brand in finance world.

[bobq]

Swisscoin had been exposed as a very likely scam several times on this forum. Now the facts seem to have proven those voices right. Pity for who didn't listen.

[friends1980]

Swisscoin had been exposed as a very likely scam several times on this forum. Now the facts seem to have proven those voices right. Pity for who didn't listen.

I think you might have missed out on some of the news. There is a fork being processed currently. You can follow everything on CoinExchange Twitter account. The old currency will remain in stock and people who bought after the hacking will receive the new/forked currency.

Those devs do a horrible job though.  

[pvlada]

This coin is definitely scam!

I'm admin of several websites, and our spam filters caught hundreds of emails sent from hacked account worldwide with same text, advertising SwissCoin.

Here it is:

Dear 0q,

If you don't already own a few coins of something, then surely at the very least, you must have heard about cryptocurrencies.

Bitcoin, the most famous one, minted countless multimillionaires but did you know that altcoins (bitcoin alternatives) are responsible for even more riches?

Among the �big� ones, NEM went up almost 10,000 percent and Ethereum, more than 4,000 percent

Among the small and unknown ones several gained more than 50,000 percent.

To put this in perspective, a small 1,000-dollar coin purchase in one of these small ones could have turned into more than 50 million bucks.

It seems crazy, doesn't it? Well, it's the reality of the cryptocurrency market today.

Raiblocks, a relatively obscure coin at the time, went from 0.20 on December first to $20 by New Year's Eve. It is now in the top 20 largest coins in the world.

All that to say, the next big winner could be found anywhere, and today I believe I've identified the next one.

After spending hundreds of hours looking at hundreds of different coins, I locked down on one specific target.

Swisscoin.

As the name says, this is a coin created and headquartered in Switzerland. It is one of the only coins in the world recognized as legal tender by the government.

Swisscoin is allowed by the Swiss government and has the potential to climb more than 5,000% before the end of January and more than 50,000% before the end of this year.

This is one of those rare buy-and-hold coins which you WANT to own, and hang onto for the long term, much like those people who bought bitcoin at $1 and kept it for 3 years. FYI, bitcoin is trading at $14,000 now. That's an increase of over 1 million percent.

I recommend you consider putting at least a thousand bucks in Swisscoin immediately. This could quickly turn into enough money to buy a new house, or at the very least a new car.

For those of you who already have bitcoins, all you need to do is open an account at coinexchange.io (this is the url/website, and it takes 1 minute to get setup), transfer some btc to your new account and buy SIC (Swisscoin).

For those of you who are still clueless about Cryptos, the process will be a little bit longer but well worth it.

Open an account at a large exchange such as Coinbase dot com or Coinmama dot com, then add some fund using your credit/debit card or Paypal.

That's the fastest way, but you will be limited to a few hundred bucks at most. It should be enough to get you quickly started but consider adding more funds using a bank transfer so that you can really have skin in the game.

Remember, every thousand bucks of SIC you buy today could easily turn into 500,000 by this time next year.

[prtomic]

So we finally got the long expected news yesterday. Since the news didn’t clarify anything or had any real value, I had a chance to chat with Mr. C (who presented himself as developer) in the telegram group and to get some of additional answers.

This is the summary of our chat, which I posted in that group.

So here is my view on today’s news:

Basically non of my questions were answered:

Let’s repeat them:

1. ICO coins - no answer
2. The company registration paperwork - no answer
3. Number of ICO coins to be distributed - no answer
4. Initial whitepaper - no answer
5. Roadmap - no answer

So it seems that we should finance again some new projects, which is yet to be announced.

The old company is sold to new investors, but we don’t know what they plan to do. We don’t know the developers, and the projects.

This all could happen.

Usually when we have normal ICO, it takes at least 2-3 months to launch anything. And since we are starting from the scratch, then additional 2-3 months to prepare the plan and the team. This is more or less in line with the today’s message.

So the best I could say is that we may see the price to remain in this range for a while. You can earn some money by trading (or pump and dump).

However I still don’t see any intrinsic value. I’m open to evaluate the project again when the roadmap is released.

I wish you all luck!

And in the end my post from today, so you can compare the news with.

So here is my view.
0. MLM promotion
As far as I know, only some of the leaders earned nice fiat money. Others are blocked and accused for fraudulent behavior. If promoters believe in project they should have been paid in SIC. In this way they would be motivated to keep the value.

1. The value of SIC is now only speculation based on the expectation that the coin will have the utility or application in the future. Based on the whitepaper we have very limited application. And that’s staking. Staking is not working currently.

2. I was very in favor of staking, as a tool to keep the coins of the market. Then I asked several times in the past, from where are we getting the rewards for validation of transactions. Since the transaction fee is very low, those coins are coming from somewhere. At the beginning, I thought that the max supply will remain the same. But it’s increasing for the inflation. Currently the inflation is 15% yearly. This is rather big, since we are not storing any value.
The better solution would be to use coins locked by the company for rewards and not to increase the max supply.

3. Merchants. This was nice idea but the competitors did the job on time and there’s little chance that this will be a big breakthrough. There are now projects which enable use of multi crypto currencies, even spending your crypto with MasterCard.

4. They broke every promise made in the whitepaper. The most important, they haven’t released the ICO coins before the trading. The biggest mistake ever!

5. We don’t know the people behind the company. Every ICO is promoting theirs experience and developers. Using their bio and LinkedIn. Here still nothing.

So when we here some news, it’ll be only the speculation again. The intrinsic value still depends on the delivery. And till now the delivery of results is zero!

Disclaimer: I closed all my positions in SIC, and have no emotional attachment to it. I earned and cashed out some profit, and covered my ICO costs. Until we receive a new roadmap I’m not going to analyze it anymore.

[thetevfik]

After the hack, SIC team has recovered. But the price is far away from the time before it hacked. Now its around 12 satoshi

[swisscoinscn]

Hi.

The real Swisscoin is this one: www.swisscoinlab.ch 100% Swiss

Please see also the presentation video in https://www.youtube.com/watch?v=jIdiSdE7c2Q&t=1s

The "Real" Swisscoin is the safest and more profitable cryptocurrency in the world. Is also the faster and most uncomplicated way to enter the world of cryptocurrency.

Swisscoinlab is laying the groundwork for a new generation of safe and profitable currencies, all with the supervision of the Swiss institutions. Trust and investor safety are crucial.

Thank you for your time.

[uyvienn]

So we finally got the long expected news yesterday. Since the news didn’t clarify anything or had any real value, I had a chance to chat with Mr. C (who presented himself as developer) in the telegram group and to get some of additional answers.

This is the summary of our chat, which I posted in that group.

So here is my view on today’s news:

Basically non of my questions were answered:

Let’s repeat them:

1. ICO coins - no answer
2. The company registration paperwork - no answer
3. Number of ICO coins to be distributed - no answer
4. Initial whitepaper - no answer
5. Roadmap - no answer

So it seems that we should finance again some new projects, which is yet to be announced.

The old company is sold to new investors, but we don’t know what they plan to do. We don’t know the developers, and the projects.

This all could happen.

Usually when we have normal ICO, it takes at least 2-3 months to launch anything. And since we are starting from the scratch, then additional 2-3 months to prepare the plan and the team. This is more or less in line with the today’s message.

So the best I could say is that we may see the price to remain in this range for a while. You can earn some money by trading (or pump and dump).

However I still don’t see any intrinsic value. I’m open to evaluate the project again when the roadmap is released.

I wish you all luck!

And in the end my post from today, so you can compare the news with.

So here is my view.
0. MLM promotion
As far as I know, only some of the leaders earned nice fiat money. Others are blocked and accused for fraudulent behavior. If promoters believe in project they should have been paid in SIC. In this way they would be motivated to keep the value.

1. The value of SIC is now only speculation based on the expectation that the coin will have the utility or application in the future. Based on the whitepaper we have very limited application. And that’s staking. Staking is not working currently.

2. I was very in favor of staking, as a tool to keep the coins of the market. Then I asked several times in the past, from where are we getting the rewards for validation of transactions. Since the transaction fee is very low, those coins are coming from somewhere. At the beginning, I thought that the max supply will remain the same. But it’s increasing for the inflation. Currently the inflation is 15% yearly. This is rather big, since we are not storing any value.
The better solution would be to use coins locked by the company for rewards and not to increase the max supply.

3. Merchants. This was nice idea but the competitors did the job on time and there’s little chance that this will be a big breakthrough. There are now projects which enable use of multi crypto currencies, even spending your crypto with MasterCard.

4. They broke every promise made in the whitepaper. The most important, they haven’t released the ICO coins before the trading. The biggest mistake ever!

5. We don’t know the people behind the company. Every ICO is promoting theirs experience and developers. Using their bio and LinkedIn. Here still nothing.

So when we here some news, it’ll be only the speculation again. The intrinsic value still depends on the delivery. And till now the delivery of results is zero!

Disclaimer: I closed all my positions in SIC, and have no emotional attachment to it. I earned and cashed out some profit, and covered my ICO costs. Until we receive a new roadmap I’m not going to analyze it anymore.

1. ICO coin release : The process of claiming your ICO is happening (from 27/6/2018), contact support.de@swissfintechdev.ch
2. People behind the company : https://www.swissfintechdev.ch/
3. The company registration paperwork
 https://www.zefix.ch/en/search/entity/list?name=Swiss%2520Fintech%2520Development%2520AG&searchType=exact
4. Website relaunch: https://www.swisscoin.community/