Platincoin legit or scam?

Who knows what about this? Their site - https://platincoin.com/

To me it looks like a total scam, it is like bitconnect. just rather than a trade bot, you get a miner in their mining farm thing. (which doesn’t exist)

Their whitepaper is two pages and none of it is useful.

The one and only good thing about it, is the imaginary hardware wallet looks rugged. but then they have put wifi on what is supposed to be on a non networked device…

avoid.

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Hmm, the page looks better than on most scam pages, but

  • all coins premined/minted allready. What are you getting there? Remembers me somehow about the One Coin scam. Bells ringing!

  • No exchange. What are you going to do with a coin without exchange? Alarm!

  • The write: “It’s backed by 5000 tons of gold.” 5000 tons? Not sure about that, but i guess this more than most countries have in reserve. Alarm!

  • Ok, reading a bit further on some forums it looks you can trade it on yobit, lol. Yes, yobit. Alarm bells again. I personally don’t touch if a coin is listed on yobit, not even talking if it’s only listed on yobit.

  • Typical ponzi pyramide shema in my opinion: REFERENCE BONUS with 11 levels: 10%-4-5-6-7-1-1-1-1-1-1% (makes together 38% Bonuses/Refs). Everything that goes over 1 or 2 ref levels at most should be considered at least strange. Whats left for 11 levels?!?! Alarm!

  • Their https://platincoin.com/static/doc/en/NoteOfRisk.html, Not of Risk, i stopped reading after a bit. You agree just to everything. That its’ not crypto, that it’s not profit, that its not promising anything, that it’s no value, whatever. Alarm!

  • No Team. I wasn’t able to find any team reference on the page. I personally avoid every project without at least its main team members shown with links and references on their homepage or an active gifthub channel. At least again Bells ringing!

I dind’t want to waste more time on this, but i think one of the points alone should be enough to avoid such project. For me it’s a pure Mlm pyramide scam…

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A troy lb is 373.24gr or
12 troy oz (30.1gr each rounded to tenth which is about $15672)
× 2000
Which is 24 thousand troy oz’s (spot value at time if writing, 1,306 per oz so just that is $3,134,4000)
×5000

Which is
$1.5672^11 :face_vomiting:

It’s backed by 192 billion dollars worth of gold! lolololo

BTW: A Ponzi Scheme and a Pyramid Scheme are two different things, entirely so. A Ponzi scheme is one where earlier investors are paid from the proceeds that new investors bring in under the promise of exorbitant returns. A Pyramid scheme is one where no product or service is sold and the people who join are paid a cut of the fees paid from of those who join under them.

Yea metric tons would equal alot more money, 160753733 oz’s × $1206 which equals stupidity
According to this, thats the 2nd largest reserve in the world


Edit-I imagine their plan would be to get as much money as possible and then disappear into the woodwork before their DOJ gets ahold of them

I see both in this scheme, but i didn’t post all the stuff i readed there beginning from business packes sold up to tickets for 1000USD where in exchange you get some coins and the 11 leval referal recruiting.

For me it looks like it is a ponzi and a pyramide scheme, but i can be wrong of course. Not sure if one excludes the other or both can be used in one “project”.

I read a story about how the SEC created their own fraudulent Ico just to show people how prevalent they are and easy it is, Howey coins

In fact it looks so much like this one that I think that it is the same thing except in a European platform (maybe not obviously)

Yep, just compare
https://www.howeycoins.com/

Hopefully for the people that paid allready, but … not sure the European Union is up to something like that yet.

Yea it appears to be an actual scam if it is a scam not just a purposely false haha showed you scam
Their sites just look very very similiar, alot written about guarantees and target audiences
But their based in Dubai so maybe its I made a completely transparent, proprietary version of blockchain money BUY IT! Not sure? Read those success stories in the blog.
But why isnt there a story about you? BUY!
https://platincoin.com/static/doc/en/Impressum.html
The tech co. is in Switzerland
The PLC Group AG, Zug, Switzerland, is a technological company. It has developed all the
technologies on which the PlatinCoin Cryptosystem is based, and which are used by the
PlatinCoin Cryptosystem. All existing patent registrations belong to the PLC Group AG. The
PLC Group AG is the bearer of the entire KnowHow. The PLC Group AG is responsible for the
maintenance and development of all existing systems, as well as for developments in regard
to newly planned applications for the PlatinCoin.

Edit- ok maybe not a scam (I didn’t see the 5k tonnes of gold part) its described as a point to point fiat transaction system
So maybe the banks figured out how to outsource their electrical costs whilst alleviating that pesky privacy thing

I bet 1 ZEC it’s a pure scam, lol:

A cosmic breakthrough is no longer a metaphor. The company does what it promises, even when promises seem fantastic. On July 14, 2017, the launch vehicle Soyuz-2.1a was launched with the spacecraft Canopus-V-IC and small satellites on board. PLATINCOIN took part in this mission, and small spacecrafts developed by the German company ECM Space Technologies went into space in containers with the PLC logo on it. If you are already the part of the PLC community, you can safely say: “We are in the space!”

here the link to the 5000t gold:


Seems platincoin is made by the same creators than the swisscoin scam


I hope we have nobody in the community that sill believes or even wastes a thought if this platincoin is legit or not.

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Yea, I was trying to entertain the benefit of the doubt but I’m certainly not kidding myself!
Sad really

Even peasants in Kazakhstan where there are horses have invested! lolololo

…and strange houses!


Reading this references the Howey test (Howeycoin) which comes from this
https://en.m.wikipedia.org/wiki/SEC_v._W._J._Howey_Co.
Heres a little more
https://consumer.findlaw.com/securities-law/what-is-the-howey-test.html

really? you are not by accident affilated with platincoin in any way?

I tend to trust posts from users who join less than 30 mins ago…yes, surely…

index

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it’s just my opinion, relax

https://goo.gl/images/xrFdLV
Heres your 5000 tonnes!

Join it, let us know in some months how it worked out … :joy: