The billion coin(TBC) review (scam or legit?)
The billion coin(TBC) review (scam or legit?)
The billion coin (TBC) is a cryptocurrency like bitcoin, but there are many differences between tbc and the other popular cryptocurrencies.
TBC has it’s own structure and formula. It’s value according to it’s founders is ever increasing and never drops.
This means that the price of tbc currently is the lowest it will ever be.
The value of tbc tho depends on the number of users, also the value increases by 1-5% daily.
In this blog post, am going to show everything you will need to know about the billion coin (TBC).
Table of contents
1. The billion coin (TBC)
2. Purpose of the billion coin
3. Basic principles of the billion coin
4. The Billion coin rules
5. The billion coin website
6. Problem with the billion coin
7. My personal opinion on the billion coin
The billion coin (TBC)
The billion coin is a cryptocurrency that claims to increase in value everyday by 1-5%. This value is based on the number of users i.e
Price = Number of verified users
This means that if tbc reaches 1 billion users, the price of one TBC will be 1 billion euros.
TBC was launched in 2016, it’s founders are not really known. Although TBC has an admin known as Kris Kringle.
Kringle is to tbc what cents is to dollars and Satoshi is to Bitcoin. It is the smallest unit of tbc.
Purpose of the billion coin
The billion coin (TBC), according to their website was created with a concept of ending poverty globally and bringing a sort of balance between the poor and the rich.
Basic principles of the billion coin
1. The price of tbc is based on the number of users, i.e if the number of users get to one billion, the price of tbc will be one billion euros.
The price of tbc rises 1-5% daily and will continue to rise till it gets to one billion. Hence the name ” the billion coin”.
2. Usually, cryptocurrencies are designed to be decentralized and are usually based on proof of stake/work.
The billion coin claims to be based on proof of work, but there is no evidence of this as the miners are not shown on a public ledger.
The billion coin rules
The billion coin is based on some strict rules:
1. If you re buying or selling TBC, it must be based on the current price and no discounts of sorts.
2. The should be no giving out of tbc as gift.
The admin of the billion coin has made it clear that there will be serious punishment for any person who defaults, this includes:
* Deactivating your TBC account for 6 months (this is now made permanent)
The billion coin website
Problem with the billion coin
The Billion coin as a cryptocurrency is filled with many loopholes that has made many people to question or even go as far as labelling it a scam.
These problems are:
1. TBC does not have proof of work/stake
Cryptocurrency because of their decentralized nature usually have a blockchain.
This blockchain is a public ledger where transactions made with that cryptocurrency is documented.
This has made many people to question the billion coin.
2. The billion coin is not listed on the coinmarketcap or coinformant
Almost all cryptocurrency are listed on the coinmarketcap, this enables them to be traded on and exchanged for other cryptocurrencies or Fiat currency.
The billion coin on the other hand can only be purchased and sold on the site’s exchange.
This has made many people to label tbc as useless and discouraged many people from investing in it.
3. The billion coin makes use of multi level marketing to gain new members
This has made lots of people to label tbc as a Ponzi scheme. Plus the fact that the price is dependent on the number of users that are verified on the billion coin.
4. The billion coin has no source code or white paper
Cryptocurrencies usually have a white paper, this white paper includes everything that you will need to know about the cryptocurrency.
Information like the founders and how it works are usually found on the white paper, but the billion coin has no white paper.
Everything that is known about tbc is found on it’s website. This has made many people to question if tbc is legit.
5. The value of tbc always goes up
This means that tbc does not follow the basic law of supply and demand. The value of tbc is said to increase 1-5% everyday, this value is based on the number of tbc users.
To many people, this makes no sense, especially since tbc cannot really be used anywhere but on it’s own platform.
TBC claims that it will be worth 1 billion euros. Understandably this has been met with lots of ridicule.
6. The billion coin can only be used on the site’s exchange
Although, there are few places where you can use tbc to purchase something.
Primarily, tbc can only be used on it’s own platform, it cannot be exchanged for another cryptocurrency or any Fiat currency.
This has made many people to question if tbc is at all useful in any way.
7. TBC is targeted at third world countries
It’s obvious that TBC is only popular in Africa and places like the Philippines, this is probably because it is easier to sell this idea to places where the level of poverty is high.
This alone should raise some serious red flags about tbc.
My personal opinion on the billion coin
Lots of people have dismissed TBC as a scam, but I am not one of them. I think the idea behind TBC is good.
The flaws and the fact that it is constantly being compared with other cryptocurrencies is why TBC receives lots of bad press.
TBC is not perfect, but the good news is that neither are any of the other cryptocurrencies.
As long as they continue to work on the flaws and tbc gains more acceptance, I can only see it going up.
Thank you for reading my the billion coin review, leave your thoughts and comments below and don’t forget to share with your friends…thank you once again.
Read my post on how to buy Bitcoin with credit card in Nigeria
Read my post on how to buy ethereum in Nigeria
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