Whodathunk buying another Pot-themed coin would not prove to be the road to riches?
We're going to try to have more fun with this one than usual, but let's not forget about this little nugget for later:
Usually, I have to bore you, dear reader, with an explanation of why the project is technically unsound, or has some other high-brow, adult sounding problem. Today we can almost go it @aggroed style and "meme the news" (a series of posts you should check out on his blog if you like your critical information visual and bite-sized).
I'll hit you with the bullet points and then a citation image below, because facts are laborious and boring, and you mostly want to know they are there without having to read them all yourself anyway, right? ahem
- They are down-vote brigading any Reddit post negative to Paragon Coin.
- The creators are sketchy, and shielding their identity behind spouses, PR hires, etc to distract from it.
- They are sock-puppeting their own AMAs, asking themselves favorable questions with their own accounts.
- They appear rather transparently after money rather than project vision.
I think we can safely guess at what the end result of the Paragon coin will be:
Probable budget "munchies" available to you after your investment returns:
If any of my readers are concerned I did not apply my normal level of due diligence, rest assured I spent an appropriate amount of time looking at their "white-paper one pager" and FAQ. In this case, I felt 7 minutes was generously appropriate.
- Business has $0 revenue: check.
- Business owns 0 locations: check.
- Business has no operable technology: check.
- Business valued own currency spendable nowhere at $250 million: check.
- Business promotion by rappers reminiscent of Fyre Festival: check.
I think we're done here.
Note: Mention of Rapper "The Game" in the title is meant as humor, no actual attribution of wrongdoing is intended. In all non-legal-ese seriousness, I highly doubt he has anything to do with this project behind attaching his name and approving of the subject matter.
Sources: u/tokentrader, r/cryptocurrency, Google, CoinMarketCap, Paragon Coin, Reddit, r/ethtrader, promotionmusicnews.com, elitedaily.com
Copyright: Tennessee Ernie Ford
You're my hero for putting these opportunists on blast. I knew the Game in a recent interview was talking about how he has invested in a few dispensaries in CA and evened owned a few. But that's why I do my show the UNplugged Radio. To talk about scumbags like this who simply are in it for the money, however which way they can get it , all while doing nothing for a culture that puts you on top. You're right, they're in it for the money and not the technological advances. The sad part is I actual like Potcoin but those guys are lazy as hell and won't even employ street teams to really promote their coin (I've reached out to them and asked them myself). They think people are just going to run up to them an utilize their coin...LoL...get real. I'm very passionate abut people giving back and building foundations for the culture, for the people. I HATE....I MEAN HATE...Opportunists. This was right on time.
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It seems to me like all the pot-based coins are kind of pointless.
Isn't Monero the currency of choice for the dark markets now, even before the Korean pump double-up? What do these coins have to offer?
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Thank you for sharing Lexiconical.
Probably they are experiencing the highs and lows of their own GREEN when writing the stats! I wouldn't trust such projects!
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Haha...that's a good one rk.
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These "cannabis" coins are just shitcoins that do PR stunts like the aforementioned Dennis Rodman stunt and sell at the highs onto all the suckers who think they can buy Pot with these coins.
When the day comes that you can buy pot with crypto, you wont need a special Pot branded cryptocurrency.
Paragon is dangerous cos they advertise all over instagram too, imagine all those newbies to crypto getting suckered. Good post.
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I think Monero is already the currency of choice for the darknet markets. I saw a post citing as much over on Reddit r/ethtrader, I think.
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It's so funny that these new ICO's are exactly like penny stocks, the only difference is that penny stocks change their name every five firkin minutes after their reverse split! I was researching the pink coin a while back and trace them to a penny stock company that supposedly will back the coin with gems or diamonds or something. They have like no revenues in a bloated share count and I think people want this coin.
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Indeed, although at least penny stocks do have some sort of regulation. I know that regulation isn't popular in these parts, but sometimes regulation is definitely better than none. I have a feeling this is going to be an example of that.
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Gimme a Sargon coin - one that has no flawed logic, no premine and no SJW users!
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Reminds me of CaliphCoin, only from the name, which I perodically see kicking around the CMC list.
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Akkadites? AKD??
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Well that's one less to have to research, think that'll be a pass! Thank you.
And thanks for the lead to @aggroed too while I'm at it!
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Glad I could send a follower his way. Make sure to join us in the Minnow Support PAL discord, too.
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This is all sorts of facepalming
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@originalworks , where you at friend-o?
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