AND IT BEGINS !
Thorncoin has introduced itself to the cryptocurrency community and has their ICO running right at this very moment. It promises to be the next big lending (yep another one) and staking platform for interested investors looking for daily returns on interest. It is heavily marketed at the moment on social media and (strangely) the coins ICO is selling out in minutes as many traders and investors are instantly bagging them hoping for big returns. Thorncoin will run on the Ethereum blockchain and is a ERC 20 token. Some interesting bullsh... ahh information on their website the total circulating supply is 9 million and they promise to burn tokens off periodically to increase the demand and value(ie. manipulate the market). There is also referral bonuses for promoters who can lure ... I mean endorse and attract new investors to register and use the platform. They also give optimistic price predictions of their coin over the next couple of months which is misleading or insightful depending on how you conceive it. I also tried looking up more information about the team behind it on the site but unfortunately I was unsuccessful. Another note is Thorncoin’s ICO isn’t available to Residents of the United States due to the regulations and uncertainty in the region.
My final thought
Can this platform be profitable?: yes it can
Is it a Scam?: yeah it probably is
How long will it last?: not forever ... and what we’ve learned about these kind of platforms is it’s not sustainable and there will always be more who lose money than gain from it
If you do participate PLEASE invest only what you can afford to lose because chances are this is just another clone of bitpetit or more recently bitconnect .... tread carefully do your due diligence and know the (HUGE) risk involved
Disclaimer: this is NOT financial advise only my personal opinion and review
