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Author Topic: PoTJ (Proof of Trevon James) - SCAM Warning  (Read 38 times)
aundroid
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June 19, 2018, 07:59:53 PM
 #1

Proof of Trevon James (PoTJ) [launched a little over a month ago]



Proof of Trevon James, or PoTJ is an ERC-20 token named after Trevon James, a crypto youtube and twitter, well lets say "influencer".
This scammer has also been involved in BitConnect which he openly advertised on his channels.


So what is the Concept behind this token?:
“When someone buys or sells Proof of Trevon James Tewken, 20% of the buy and 25% of the sell price is split by the total number of coins and given as locked-in-rewards (priced in Ether)”.


Example:
If you were to buy into the contract with 1Eth and immediately sell it, you would get around 0.55Eth back. The reason for that is you lose 20% on the buy in, and 25% on the sell, ending up with around 55% of your initial ethereum.
In other words, in order to break even the token price has to go up roughly 40% before you decide to sell it.

So the smart contract is essentially a game where earlier participants capitalize on other users who buy, sell, or transfer the tokens.

The difference between PoTJ and other pyramid schemes, is the fact that the creators of the contract are transparent with the reward system. Since anybody can view the contract, those looking to invest in PoTJ should be 100% aware of how the game works.

If you wanna know what exactly a pyramid system is, I got a little definition for you:



His YouTube Channel:



Beware shit like this.

People like Trevon are people that the crypto community doesn't need.

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June 20, 2018, 08:00:33 PM
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Trevon James himself is someone that I would never trust. His content on youtube essentially misled thousands of people to invest in Bitconnect, which is an obvious ponzi scheme at the start, and he knew it and still took advantage of the people who believed him.

A coin that involves his name asking for investments? I wouldn't even bother clicking into the website.

But anyways, the whole idea of how PoTJ works is literally the definition of an organized pyramid/ponzi scheme. New deposits pay for older ones. I'm not surprised about Trevon James launching yet another scam, but it just completely labels him as a scammer now. Yes, everything is transparent. But someone can easily be misled into investing in this, thinking that it's a legitimate investment opportunity.

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