BitCar Token looks rubbish

in token •  7 years ago 

I saw ad for it on You Tube

The idea is basically you but the token and business is they will buy a few super cars and hold for a few years and then sell them.

However the owners of the idea get near 20% of token's.

They say Supercars give a better return than Gold over a long period.

You can trade the tokens any time on the blockchain

However I see a few issues problems with the idea.

They are taking too much profit for the idea near 20% of the token's for doing very little

They are hoping the Supercars hold they value and increase over time

You have to hope they are honest and keep there costs down.

Store the cars and not drive off with your money.

There might be profit but it will very little after all the people have taken there cut and it will be at least 10 years.

Its a bad idea to buy this token.

Let Me know your thoughts and follow and comment Thanks

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At this rate, they will soon create BitAppartment, BitPainting, BitLuxuryHandbag, BitCleanAir :)
Nice post @newmarket65, following you.

the shittiest car i ever seen on steemit btw make sure to check out my post.Im going to resteem ur post xD

  ·  7 years ago (edited)

♦i just, upvote, comment & resteem your blog♦.....i will waite your next post.......keep it up.........@newmarket65

Are you buy thus coin???

no bit coin for me

But why??? You Do not like??

I agree with your concerns here. Sounds like just a way for a couple people at the top to make most of the profits, and leave all the smaller investors with very small profits, or nothing at all.

It would be fun to own a super car, but this is probably not the way to go.

Thanks for the info, it isn’t important to do your research before investing. Cheers.

yeah bad returns for sure creaming the profits

I support you brother really I do not agree neither here wants to win only the one of the aagencia and owners and the others pure to lose.Ah by the way as you continue friend, you are already better? @newmarket65

i would stay away from it Thanks on the way

Idea have worth and can also give positive impact of token market value. when directly used for buying selling instead off exchange with hard currencies.

This has a red flag all over it. problem number 1. the 'IF' is too damn big and problem number two that 20% for the span of who knows how long is just not worth it. But that's just what I think

yeah it will not be a success only for the people who make it up they will take the profits

nice car. tnx for sharing.keep on it & support you.

lol :D
Heard about that coin first time. Not gonna invest my money in that rubbish coin. Thanks for sharing @newmarket65!

your posts are different from all... i really enjoyed your post...👍

Nice post @newmarket65

It could work if they buy used supercars. Sounds fishy though.

there are so many schems on the blockchain space... much like the dot com companies back in the day...
very few will remain when the dust settles

Good post, good luck and have a good day :)

well post for every one thanks to share...

Great dear I like it .