Cryptocurrency

10 Reasons why TheBillionCoin(TBC) is a SCAM

(Last Updated On: November 29, 2017)

In this post, I’ll tell you why I think theBillionCoin is a scam and present some facts below to prove why it shouldn’t be called a Cryptocurrency, let’s go. 

Why TheBillionCoin is a scam

 TheBillionCoin Scam- Self Acclaimed Cryptocurrency

Meaning of Cryptocurrency: A cryptocurrency is a medium of exchange like normal currencies such as USD but designed for the purpose of exchanging digital information through a process made possible by certain principles of cryptography.  Okay, maybe that wasn’t so straight to the point, take this one instead then, it is a digital currency designed to work as a medium of exchange using encryption techniques to secure transactions and creation of additional units of the currency.

Examples include the Bitcoin, Litecoin, Peercoin, Primecoin, Ripple, Mastercoin, Dogecoin and other’s, let me stop there.


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Cryptocurrency has become very famous today, known and used by almost everyone. Behind it also, are some fraudsters trying to seize the moment to make some profit for themselves by using the term, cryptocurrency.

MUST READ: How to Know The Right Cryptocurrency to Invest In

There are a lot of them, one which includes “TheBillionCoin” or TBC. Like many digital currencies, this one claims it’s market value increases daily.  When TBC first came in, it’s opening price was €0.001 and has supposedly gone up in value by 5% ever since that day. Off course, that sounds too good to be true, the aim is to attract new members settling them with the idea that they can become a millionaire in a short period of time. It is a fact that most of the new members are people who don’t have a true understanding of what cryptocurrency is and how it works.

 

thebillioncoin-scam

TBC price increase chart

 

 What Determines the Value of a Cryptocurrency 

You’ve seen the chart above of how TheBillionCoin claims to have it’s price go up every day but in this section, I’ll briefly explain what determines the value of a cryptocurrency.

In short, the price of a Cryptocurrency is determined by its supply and demand. For example, when demand for bitcoins increases, the price increases, and when demand falls, the price falls. Get it, right?.

Demand here is based largely on two factors: The utility of the Cryptocurrency and Speculation. Utility is the ability to use the said cryptocurrency to buy things or to pay for things that you want. Speculation is the belief that the Cryptocurrency may one day be much more than they are now, i.e. future utility.

What is The Billion Coin?

The Billion Coin is fully decentralized peer to peer crypto currency somewhat like bitcoin but it operates on its own principle,  created with a concept of ending poverty globally and having a formula whereby its value grows based on the billion coin’s community growth.

 

Why is TheBillionCoin Not a Cryptocurrency?

This is what we all came for, so continue reading below;

  1. TheBillionCoin(TBC) is not on coinmarketcap.com , that is by far a major blow against “TheBillionCoin”.

Please Note:  TheBillionCoin(TBC) is different from (TurboCoin(TBC) –>no longer in existence), they both have the same abbreviation but they are not the same.

2. It’s value always goes up. That is not supposed to be, unless it’s value is determined by the owner of TheBillionCoin and not by the market because there is no cryptocurrency which its market value goes up at all times. It is just a mechanism to look for more members.

3.  There is no open market supporting this coin. If at any time this scheme was to fall, all the members will only have a worthless coin, because members cannot sell their coins anywhere. There’s actually no legit exchanger for the billion coin, a quick search on google will reveal to you.

4. It uses a Multi Level Marketing style.

5. Uses testimonials and the idea of their trickery of a millionaire board into getting new members.

6. It can’t be Mined, like seriously? How then are more coins generated?

7. It has a bad reputation on Reddit and on the Bitcointalk Forum.

8. Users get banned without Warning. Its users have complained about their accounts being banned without warning, this might happen when they sell their coins at a cheaper rate or whatever reason they choose to ban for. You will lose your coins forever.

Updated:

9. After the TBC upgrade, TBC has blocked the SEND BUTTON on all user accounts and you’re required to pay an Annual fee of $10 before you can become a Trusted Seller.

You are not a trusted seller of TBC

You are not a trusted seller of TBC

10. TBC – TheBillion coin is not Open source, it has no roadmap, it is being controlled by it’s owners.

These are just some of the facts to prove that TheBillionCoin is a Scam, a deception in the name of a cryptocurrency. Many of us have fallen for this, it’s high time the truth came out.

I’d love to hear your opinion, feel free to oppose the facts I have outlined or to let me know what you think about this Coin, thank you.

 

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About the author

Joseph Ibezim

Joseph is an Internet scientist by mind and founder of Xtrahola, Inc. Lover of all things tech, and general geekery.

261 Comments

  • I think that you are a newcomer in this domain of cryptocurrency. Anl cryptocurrencies need in their beginning the powe of circulation , the power of sharing and this dermines if they can influence themarketor not.
    Do you know the story of Bitcoin? go to your book and researches and read !
    In the begining of BTC many persons thinking like you claimed that Bitcoin would be Scam , but what’s the reality Today??!
    Those who believe are Billionairs and where are You?
    The biggest Ennemy of the actual Financial World system is the Cryptocurrency . You accept or you refuse, be sure in the next coming years the currencies will take place. Many and Many persons are earning several tons of 1000s dollars in TBC and you take time to publish against TBC.

    Just to infom you that until the next year the TBC will be on market.
    And , and if the mining reaches 1 Bilion Coins it will be Launched directly and exchange with all the other currencies and used in many Shops.
    Also , i want announce you that the TBC is used in Philppina !

    Bye an continue to search while we Get rich! Last December i’ve earned 20 000 USD and paid all my Debts!
    And actually , i’m earning 8000 USD , and You talk about SCAM ???

    You’re Funny guy!

  • I must say that there Is nothing wrong in saying wats on ur mind, but instead of channeling all your energy to wat is negative while don’t you put it on something positive so to attract good stuff, weather is a scam or not millionaires are being made.

  • Let’s wait and see if it’s a scam or not, funny enough I got 1tbc for 1k, I’m playing smart not to lose out if it turns out to be a bad investment.

  • Very impressing article that couldn’t be FACTS, soo you “think?” and that is how you think it’s a SCAM? I require you to make a broader research bro and find another way to stop against The Billion Coin.

  • Tbc Thebillioncoin SCAM REVIEW!!!

    Hello,
    Why are people so ignorant of what they see is true? Today we shall break down our thoughts about TBC Thebillioncoin so you can decide for yourself.

    TBC SCAM REVIEW

    TBC coin is a cryptocurrency invented on March 21st, 2016. Since its invention, there has been a lot of tension and speculations due to the promises the coins claim to bring. There many reasons why people say TBC is a scam.
    First and foremost the most common reason is because TBC coin coincidentally has a similar name with a previous coin which came and failed. TBcoin like Tuberculosis Coin. This misunderstand has grown wild because of a review made by bitcointalk to warn people to stay away from that fraudulent TBcoin.

    Now I want you guys to understand that the review made by bitcointalk has nothing to do with The Billion Coin (TBC). You can follow the link(https://bitcointalk.org/index.php?topic=1592288.0) to read the review for yourself and also follow their link to the TBcoin official site(thebillioncoin.com). The TBcoin website is even no more after a lot of people became aware of its scam intention. It was a real scam.This misunderstanding has grown so wild that others in the community who did not know what the review was about pick up the real billion coin and painted it black but guys you can make your own informed decision after reading this review.

    Secondly others say, TBC is scam because it claims to increase 1-5% daily which has never happened in the market of cryptocurrency. Now I really understand and relate with anyone with this ideology. Its really difficult for people to accept new stuffs because its not in line with what they already know. The value of every cryptocurrency is determined by the market of demand and supply. Simply, it means that, say if the demand of bitcoins go up then the price of bitcoins correspondingly increase and vise versa.
    However with TBC, the coin claims never to come down in value which doesn’t make any sense talking from experience with previous cryptocurrencies and some basic economics.

    On the contrary, TBC coin is a new innovative idea introduced into the crypto world. May be the only mistake was calling TBC coin a cryptocurrency. As all other cryptocurrencies’ values are market base, TBC coin’s value is user base.

    What does that mean ‘user base’, the idea of user base means that the value of the coin is determined by the number of verified members in the TBC community and not necessarily how they are using the coin. This simply means that the more people join the community, the higher the price of the coin. However the coin has an ultimate price of one billion euros(€1 b) hence the name The Billion Coin.
    Why 1 billion euros, what if the people on the coin exceeds one billion?

    The software is programmed to keep track of the number verified members until it reaches its ultimate of 1 billion people, mind you this doesn’t mean only one billion people can join the community, it just means only 1 billion will be accounted for. Consequently, since the price of the coin moves with the verified members, the price will also come to a halt at 1 billion euros(€1 b) per coin.

    Now this makes sense just that its sounds too good to be true. Its not our fault to have doubts but its our fault if we miss the opportunity to be in the growth stage of the currency, an opportunity to be a millionaire, an opportunity to be of help to others, an opportunity to employ those who didn’t believe.

    Thirdly, people are losing trust in the coin because they do not understand the concept of the coin. You can follow the like the learnt about the concept and why the coin was invented in the first place. Follow this link and watch the video on TBC concept. https://www.thebillioncoin.info/tbc_formula.php

    Most members in the community are losing trust because they find it difficult to exchange the coin for a fiat currency(cash) after buying and growing the coin for sometime. Most people are crying for exchangers but I say exchangers will play less role to the success of the coin.
    Here is the ugly or beautiful truth depending on how you want to take it. I’m going to be straight forward here. The coin was not invented to be like any other cryptocurrency that you buy today and exchange tomorrow when the price starts going down or buy more when you suspect a price increase, TBC coin is not stock. This coin was invented to put an end to poverty hence the abundance nature of the coin. TBC does not need exchangers, now reason with me.

    When TBC reaches its ultimate of €1b there will be 1 billion coins in circulation. Now do the maths, $1b x 1 billion coins, that’s a lot of zeros. Which fiat currency is that much to exchange for all TBC holders. Guys the coin was made for a purpose.

    The purpose of the coin is to be accepted as a global means of exchange. The coin is here to replace the fiat currency and solve the problems created by Fiat currencies. Before you can use your fiat currency to purchase in another currency, you need to exchange your currency to the currency of the other country. This creates a lot of problems for businesses in developing nations. For example, a business in Africa say, Ghana or south Africa or any other African country signs a contract with a business in USA to supply goods wealth say $20,000 with a rate of ghc 4 to $1(ghc 80,000). Now this business man in Ghana after selling all the products makes ghc 90,000. He has at least made a profit of ghc 10,000 but just when he goes to the bank to pay his supplier, finds out that the dollar rate is now ghc 5 to $1, meaning he now has to pay the bank ghc 100,000 so his supplier gets his $20,000, you can see the inconveniences this can create to businesses. TBC coin is here to be a global currency for all nations, why will you run away from this opportunity.

    You may ask if we believe in TBC why sell it then?
    The only reason why we sell the coin now is just to make it circulate so everyone can also get the coin. If all holders refuse to circulate and hoard all the coins then new members will have no coins to also keep till the ultimate price is achieved. The coin was made to create more millionaires and billionaires not just to make 1 or 2% of the population wealthy which will send us to square 1.

    The coin is here to be used for trading, payments and any other thing we do with the Fiat currency so you see why i say exchangers are not necessary. Because if you exchange TBC coin to fiat currency today, tomorrow if you need TBC coin, you will need to pay more for it since its increases everyday. I believe exchangers will hinder the growth and importance of the currency in its growing stage.
    We have to stop pulling this currency down to fail and push forward for its success because the success of the currency is not in economics theory nor in the hands of the government, its in our hands. We can decide whether TBC will fail or succeed.

    Sometimes its too hard to understand people who says TBC coin is scam for none of the above reasons, if you have TBC and enters my shop and i say i accept TBC as payment and my supplier also accepts it and the person providing the raw materials for my supplier also accepts it and the food and agriculture sectors also accept the currency and we all join together and work with the currency, where and what is the SCAM.

    Do not worry yourself to sell your few TBC just because you do not believe in it or worry about exchangers rather spread the good news and let more people know about it so you can pay your fees and buy anything you dream of with the coin.

    You should also try and sell some of your TBC coin, if you have a lot so that more people can also get this currency. The reason why its hard for you to sell your coins is because you want to sell to people who already have the coins or people who do not understand the concept of the coin, help more people to understand the concept of TBC and the good it brings with it and we will all be happy.

    My only advice for all those who think they are too smart to be scammed is that, its better to lose some money to try TBC out than to keep your few money and later realize your mistake after the success of TBC.

    #COPIED.
    You can copy and share as well

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