Bitcoin MYK and BBD Dollars - Scams or Well Meaning but Confused?

in LeoFinance3 years ago

I first came across BBD coin on Hive-Engine because it was showing a > 1000 % price increase, so it appeared high up on my tokens list.

I've since dug into this and maybe it's just me but I honestly can't see any validity in the coin at all, not least because the coin's creator @mykos is manipulating the price of his own coin by buying and selling it to himself and then using that recently manipulated price in his promotional videos about his project.

Screenshot 2021-10-17 at 17.03.51.png

You can see through using Hive-Engine Explorer that he is the main buyer and seller of it (to himself).

The BitcoinMYK Website

I followed the link to his external website from his profile, which seems to be a blog interface through which people can post, and earn BBD and BTMYK - TBH I can't tell which, and the price feed for BitcoinMYK takes you to BBD coin on Hive-Engine when you click it, which doesn't instil confidence in either of these Hive-Engine tokens.

Screenshot 2021-10-17 at 18.53.09.png

It's all very unclear what the focus of these two coins are and a bit of a confused mess TBH.

There is some attempt to link with Hive - the 'wallet' button directs you to downloading Hive KeyChain, but NOWHERE is there explicit mention of Hive on the blog, as far as I can see.

In fact the whitepaper obfuscates the nature of the two coins - it states that BitcoinMYK is a 'fork' of Bitcoin, but as far as I can see BitcoinMYK was just created by @mykos on Hive-Engine, so that's technically incorrect.

And there is some other information in the WP about how BitcoinMYK will collect value and something about Universal Basic Income too, I read one fanciful post a while back suggesting silly price predictions from BitcoinMYK, which would take a miracle to realise given the very limited interest shown in it so far.

There are stated plans for the coin based on future advertising revenue, but I honestly can't make much sense out of what he's saying.

His figures about the future value of his coin are just pie in the sky, but what's worse is that he seems to be basically scamming the price and misleading people on his website about the current value of it - by manipulating through low volume trades, as far as I can see.

NB in case you're thinking 'maybe this project is beyond my limited intelligence', no, I know I'm very intelligent, but I also know there are plenty smarter people than me that operate at a higher level which I struggle to follow - I met PLENTY of them at SF3 and 4.

@mykos isn't one of them, most definitely not, I just can't tell whether this is a genuine effort to construct something valid that is just confused or an outright scam, it's one of the two.

Maybe he's scamming himself without realising it?

Either way, if I were you I'd steer well clear of these coins!

Posted Using LeoFinance Beta

Sort:  

Thank you very much for analyzing the transactions of this fraudster).
As the owner of three million coins, this should have scared me, but I think there are two sides to everything.
I have nothing to hide, I have already recouped my investment in this coin a long time ago and, in fact, it is 3 million free coins that are waiting to be sold.
But, Mikos, climbs out of his skin to get his coins out of the wallets of the coin holders.
This may be a mistake and your version is more accurate, but for those who have been dealing with this coin for a long time, everything appears in a different light.
Indeed, it is difficult to communicate with him and he has already made me very nervous several times, very strong lol.
Perhaps the lowering of his reputation and the lack of profit for his posts played a bad joke with him, I do not know, but I will wait, he knows that I will not sell coins below one dollar.
His rehabilitation directly depends on the beginning of transparent tori in the market and real care on his part about the reputation of the coin.
Even if my coins are worth nothing, it was a good time lol.

Well if you've recouped your investment that's a good thing, but I personally can't see any validity in this project. It's just a bit all over the place!

There is such a saying: we do not know what is a blessing for us, and what is for us ... a curse) You can get confused and go down the wrong path, time will tell, coins are not covered with dust, but I do not advise anyone to invest in this coin , I did it a long time ago, when it sold well.

Well haven't come across it before this post...now I care even less

I think that's a good attitude to have to this project!

looks like a Pump and Dump coin, but have to dig into the whitepaper to see what exactly the coin is.

Please, if you can make ANY sense of the white paper, any at all, do let me know! (You won't be able to!)

1000%!! Now that's what I call GAINZ! ;0)

That's what lasse does too, isn't it? To keep his mad tosscoin up in value

Posted Using LeoFinance Beta

Madd tosscoin, now there'a a phrase I LIKEE!

Posted Using LeoFinance Beta

Maybe he's scamming himself without realising it?

Honestly, I don't think he has much idea of what he is doing in regards to much of anything. But most of what he writes in comments I don't read, since it is predominantly gibberish. Maybe he is just communicating on another plane of existence?

A fork of Bitcoin would require miners.

Ah no... I get it. It makes sense. He forked the Bitcoin name.

Posted Using LeoFinance Beta

In other words he's mad.

Posted Using LeoFinance Beta

Or of an intellect of the like the world has never seen.

Congratulations @revisesociology! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s) :

You have been a buzzy bee and published a post every day of the week.

You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

To support your work, I also upvoted your post!

Loading...