In order to be an altcoin investor you must suspend disbelief.
You have to ignore common sense and practical wisdom and blindly believe in the ficticious and grandiose claims of a person or person’s unknown.
In traditional world of business, investing is NEVER done this way. People who want to get money from others must entertain all questions and have detailed, complete answers that make sense to everyone.
If they can’t do that, people DON’T invest.
Okay, now that that’s out of the way, let’s take a look at DebtCoin (DBT) a new altcoin with some amazing tall tale-style stated claims. Their first two claims really say it all:
- To put ANY and ALL Instant Loans , Easy Fast Cash Companies out of business
- To give fast simple cheap loans to people in debt
Let us be clear. Globally, the loan business is one of the most regulated industries going. Any company that wishes to make loans to people must meet vigorous compliance requirements and offer real world solutions to many common capitalization requirements.
Jump In Quick And Loan Your Money To Poor People!
In Altcoin City, none of that matters! If the Easter Bunny started offering loans and someone thought they could make 4 cents from mining his altcoin, they’d ‘jump in‘ without a second’s hesistation.
Are these people insane or just stupid? I cannot say. The ANN thread includes this gem used as justification for the ridiculous 10% premine: “10% to formation of two new loans companies“.
Yeah, right! The brand new account holder is going to form two new companies with a 10% premine of a ridiculous altcoin. Then this same person is going to WORK at those two companies administering loans made in virtual currencies to people around the world.
Can we please put the meth pipe down for a second and analyze these claims?
Heck, let’s not waste our time. The claims are B.S. and so is this coin. If you need more proof read the ANN thread. You’ll see more Chinese Sock Puppets than you would at a children’s entertainment festival in Beijing.
Does the DebtCoin Team have what it takes to put all payday loans out of business?
I doubt it!
They couldn’t even follow the simple BitCoinTalk rules not to post a giveaway. How will they comply with international laws while making loans to unknown people?
It’s likely they won’t even try. If there’s an altcoin exchange dumb enough to list them, that 10% premine will be dumped faster than Usain Bolt runs 100 meters.
That’s how it looks from here. Maybe time will reveal a different outcome. We shall see.
Thanks for stopping by and reading. Feel free to leave any comments you have below.