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Another shit coin your way !!
Shitcoins became our daily morning paper ! Yet one particular coin "gulfcoin" came to my attention especially and particularly the way it is advertised !
" if you bought bitcoin 13 years ago for cents you will be millionaire and now gulf coin still in cents buy gulf coin"
This is wrong from all perspectives mathematically, technically spreading false information to the public through a cheap advertising methodology .
This is a shame because genuinely they are thousands of icos.
People should know that those projects may or may not succeed and the success rate is very low .
Bitcoin has no intrinsic value and is not backed by anything .
Bitcoin has properties that made it unique like decentralization , proof of work
Censorship resistance . bitcoin is a complicated invention that took 13 years to prove it s validity.
Bitcoin is fundamentally different from any other digital asset. No other digital asset is likely to improve upon bitcoin as a monetary good because bitcoin is the most (relative to other digital assets) secure, decentralized, sound digital money and any “improvement” will necessarily face tradeoffs.
Tokens are created with some line of code using smart contracts on the ethereum or other networks and that does not give it any value.
Tokens created like gulfcoin should have a consensus and a clear whitepaper a solid team and a great idea .
With all the prerequisites fulfilled investing in icos is tricky . Bitcoin the greatest invention still a risk asset how about investing in an idea that may or may not succeed.
Founders of icos can exit at any time getting the value to zero whether it's intentional like a rug pull or a market manipulation leaving investors hopeless unable to recover any of the money vested .
In a quick review of Gulfcoin whitepaper you notice the following :
Gulfcoin is a digital cryptocurrency that enables anyone anywhere to send and receive payments without relying on bank.
Gulfcoin price is not stable and how you cash it out on the final destination without a bank ?
GULF Blockchain
So that GULFCOIN will operate without the need of a central authority, it will eventually lead to reducing risk and eliminating many transaction fees
Ahh what is dis bullshit ! they explained wat is a blockchain !!
GULF NFT Marketplace and Gaming
Also nft and gaming !! should nt be a payment solution that replace the current financial system ?
They forgot to add social network and metaverse
Aren’t you tired of worrying about exchange rates every time you want to carry a transaction?
Yea what magical solution you have to change the whole financial system ?
o h shittt !!!!
GULF solidity smart contract includes an automatic burning feature based on the size of any transaction that occurs on the blockchain. This feature is equipped with an ON/OFF button so contract owner can turn this feature on and off based on marketing campaigns or on given circumstances.
Auto burning is designed this way to quickly and effortlessly adapt with any given condition on which burning becomes a necessity for a limited period of time.
Are you tired of worrying about exchange rates every time you want to carry a transaction?
bullshit bullshit
And the bushit and definitions from google continue what is a blockchain what is staking etcetera etcetera …
And the bullshit must go on …
Tokenomics in the first year they release 10 percent of the coins and the founders take 10 percent means if they dump their supply they will take the coin to 0
Furthermore :
The finale -> la creme de la creme that they have a registered company in Marshall Islands
Somewhere in some ocean where no man will ever go 😂
Bitcoin and Cryptocurrencies are the future yet investing in them is tricky and require a learning curve. Don’t be fooled by the media educate yourselves learning something new can
save your funds .
Beware the SCAMMERS !!