This article proves that the Texas Securities board has ordered a cease & desist order on the operations of the "coin"
Some notable quotes from the article:
- "According to the order, an investor lending $30,000 in davorcoin may earn $15,390 in the first month of the program and receive $107,217 after 120 days.
DavorCoin, however, is not telling investors how it will generate such extraordinary profits. DavorCoin also is not disclosing the identity of its principals or its place of business, claiming instead that “due to tax and regulatory risks,” it “cannot officialize its domiciliation.”
"The Enforcement Division also found that DavorCoin is an unregistered firm and it is selling unregistered securities through affiliates."
"DavorCoin has 31 days to challenge the order before the State Office of Administrative Hearings."
Personally, I don't believe that Davor can challenge the order. And it seems to be another "coin" that's headed for bankruptcy. I pity the investors that has funds "locked" up in their website.
But then again, it's mostly their ignorance, greed or both that got them into this situation anyway.
My personal rules before investing in and crytpo currency.
- Will the transactions be on a public ledger/block explorer?
- Is the PoW or PoS rewards fair?
- If it's a new PoS, will the devs have a lot of pre-mine coins?
- Can I physically control the coins, like in my own desktop wallet where I control the private key or like MEW?
Basically, that's it. But if I was to enter Davor, after seeing the website, I'll have the following questions in mind before I would invest. Better to answer this based on what's on their website.
If this still doesn't convince you NOT to invest in Davor, I don't know what will. Good luck on your investment.
Until next time!
BCH : 1F72jSnZadZ3xZCafZLP542vj743mqDFNe
LTC : LZWyPebkPt1nY9Mw7VUwJqtWmX7moEi7Dn