What is Coinspace? Is it scam?

in ponzi •  8 years ago 


Intro

Before, I was very fortunate to know Steemit, because Steemit has told me many things about cryptocurrency. From this I learned to know more about the digital currency. Last week I got an invitation from my friend to attend a seminar, he said about cryptocurrency and blockchain. I drove 6 hours from Aceh to Medan just to attend the seminar. The seminar was held in a hall of a luxury hotel, with free of charge at all from every participant.

I invite 2 of my colleagues to accompany me there, as well as to learn for free, about the world of cryptocurrency and etc. I'm looking for the hall, I read every paper on the entrance, because there are several halls with its door closed for other activities at the hotel. Finally I found a door with the writing "S COIN" on the paper, and I get into.



The event was already started, the speakers are present there are two person, one came from Singapore and one from Malaysia, they attended to Indonesia just to give the material about the world of crypto and coinspace. They both explained about the existence of coinspace, which has entered blockchain and is now in the stage of mining. I record all material that they provide, and I took pictures for each slide of their presentation.

The two of them explained that coinspace is a system that resembles a MLM system (mutli level marketing), where each participant is incorporated therein can earn in passive income within less than six months.

I'm confused, because there is a very easy way to get the money.

The participants were present at that time were not crowded, roughly 20 persons only, but comes from the entrepreneurs and youth from the classy. Coinspace party hopes to gather as much as possible and to opt into the system, by buying digital coin called "SCOIN". He said their digital currency was backed in EUR currency.

Here I describe some of their master-plan



€ 300 to € 12,000

By following coinspace, you would spend a minimum of € 300. And for largest packages is € 12,000. Then you will get more profits from the interest that given every day, because in every day, SCOIN currency will create interest based on the value that you spend at the first time since you start to joined. Then, if you're able to recruit new members under you, then you will get more coins (MLM system), you will harvest after 360 days (1 year).

I feel no need to explain a lot of things about it, because maybe you can searching the Internet. I got their page http://coinspace.eu/. So far, I've made the analysis of coinspace presentation of that day, and below I describe my confusion:

  • The absence of clearly master-plan
  • The contents of the presentation that explores much about bitcoin (not coinspace or scoin)
  • Unavailability of SCOIN in a marketcap (Crypto-Currency Market Capitalizations)
  • They're mine, it is not clear what they were mine, whether bitcoin or SCOIN.


It really scam?

I open the internet browser to search for related information such coinspace, but when I type in google, yet finish typing, Google has offered an additional sentence "SCAM". I may not know much about this, but I don't want it if one day my friends are fooled with this coinspace, then I sincerely hope that it is true and not scam. I hope you all (Steemian's) can provide more information in this regard.



It took several days for me to learn a new system like this, I was actually not want to publish this, but because I thought it would find an answer, or my friends here have the information, then I post today.

By: @steemvest17

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Yes, it's a scam. It's a good thing you asked. Another infamous scam is OneCoin, by the way. You can't trust any cryptocurrency that needs salesmen to find investors. Someone else asked about Coinspace on Quora, and I counted a lot of red flags (warning signs):

You’re right to be suspicious. I’m seeing more red flags here than in a North Korean parade. Red flag #1: a friend is pushing you to invest a significant amount. He’ll probably get a bonus if you invest. This is how multi-level marketing (MLM) schemes ruin friendships and families. Red flag #2: they guarantee that you can’t lose anything. If it seems too good to be true, it probably is. Red flag #3: they’re asking you to invest in a company without going through a stock exchange or even a trusted crowdfunding platform. Red flag #4: they sell cloud mining, which means they control everything on their servers; you might get a little profit if they’re honest (and competent enough not to get hacked).

Well, I got the answer now. from you... Thanks @edb

I ever read that onecoin has a same way with coinspace in collecting peoples, and its already got a "SCAM" stamp from netters.

I always raise an eyebrow when I see 50% commissions. It's pretty unsustainable at the best.

Most normal comissions are not more than 15%. And these "packages" are also suspicious, I have seen a lot of ponzi schemes being marketed like that.

Definitely proceed with caution.

Me too, because it seemed impossible for me.

@steemvest17 you asked me this in the chat and unfortunately no one has noticed this - you should ask in the chat too - experts
but dont know who - are :D
read this and this.

Mmmm... Thanks for more info @englishtchrivy, but I still remember that my friend has spend his money to following this project :(

@steemvest17 - that's his money he can do whatever he wants with it ;)
you're very thoughtful and I could tell you're a good friend to him but don't forget yourself - learn to also not make it your own burden

I hope to see you join this this time :D
Have a great weekend!

Thanks my friend :)
Sorry for last challenge, i can not spend my time :(
my wife is very busy :D

@steemvest17 no worries but just so you know the time is extended till [Monday}(https://www.timeanddate.com/worldclock/netherlands/amsterdam) here so you have 72 hours and more to go - 3 days in Asia I suppose since you are in Indonesia - I think you have an advantage to this week's challenge. But whether you join or not this week - you are always welcome!

OK. I'll try it ;)

It is funny how people assume it is a scam or ponzi!, just because someone they do not know posted scam on their youtube and website, and most people seem to believe that. But why don't you believe an actual member of Coinspace?
You should know by now that People put scam on their site on purpose, so they get more clicks and move quicker up the google ladder! Or they post scam because they want you to buy their product! People see 10 negatives on the net and assume it is not real, what about the 500.000 positives? Really take the time to do your research properly. It is sad actually because you believe a guy that you do not know who posts scam, you might miss out on thousands! People that are successful in life take risks and have no doubts! and that is about 20% of the population. If you do not take any risks , yes you are very safe, but everything will stay the same for you in life. Good luck.