YoCoin Review: Pump and dump altcoin with recruitment
There is no information on the YoCoin website indicating who owns or runs the business.
An address in Bangkok, Thailand is provided on the YoCoin website. Further research however reveals this address actually belongs to Regus, who sell virtual office space.
As such is appears YoCoin exists in Thailand in name only.
The YoCoin website domain (“yocoin.org”) was registered on the December 3rd 2015, however the domain registration is set to private.
At the time of publication, Alexa estimate that 30% of traffic to the YoCoin website originates out of India.
As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.
The YoCoin Product Line
YoCoin has no retailable products or services, with affiliates only able to market YoCoin affiliate membership itself.
Attached to the YoCoin MLM opportunity is the YoCoin cryptocurrency.
YoCoin is a decentralized, peer-to-peer digital currency that enables you to easily send money online.
CoinMarketCap first listed YoCoin (YOC) back in January, 2016. The YoCoin cryptocurrency appears to have preceded the launch of the YoCoin MLM opportunity.
YoCoin currently has a value of 0.00025 BTC (17 cents US).
The YoCoin Compensation Plan
The YoCoin compensation plan pays affiliates to recruit new YoCoin affiliates.
When a YoCoin afiliate invests, they start to receive YoCoins 30 days after their investment at a rate of 5% of coins invested in per week.
Direct Recruitment Commissions
When a YoCoin affiliate recruits another affiliate who invests, they are paid 10% of the invested amount.
Residual Recruitment Commissions
Residual recruitment commissions in YoCoin are paid out via a binary compensation structure.
A binary compensation structure places a YoCoin affiliate at the top of a binary team, split into two sides (left and right):
Subsequent levels of the binary team are generated as required, with each new level of the binary team housing twice as many positions as the previous level.
Positions in the binary team are filled via direct and indirect recruitment of new YoCoin affiliates.
In order to qualify for binary commissions, a YoCoin affiliate must recruit two new affiliates.
Each week funds invested by affiliates on both sides of the binary team are tallied up.
YoCoin affiliates are paid 10% of funds invested on the weaker binary side.
How much a YoCoin affiliate can earn in binary commissions each week is capped based on how much they’ve invested, as well as their personally recruited affiliates:
- $50 investment volume = $500 a week in binary commissions
- $100 investment volume = $1000 a week in binary commissions
- $500 investment volume = $5000 a week in binary commissions
- $1000 investment volume = $8000 a week in binary commissions
- $2000 investment volume = $12,000 a week in binary commissions
- $5000 investment volume = $20,000 a week in binary commissions
- $10,000 investment volume = $35,000 a week in binary commissions
Note that only $2000 of an affiliate’s own investment can be counted towards the above qualification criteria. The rest must be sourced from recruited affiliates.
Binary Matching Bonus
YoCoin affiliates are paid a 10% matching bonus on binary commissions earned by personally recruited affiliates.
Yo Club Benefits
YoCoin place 1% of company-wide invested funds into a Yo Club Benefits pool. This pool is divided between qualified Yo Club affiliates.
To qualify for the Yo Club, a YoCoin affiliate must generate $10,000 for that month on both sides of the binary team. Each month they must also recruit two new affiliates who have each invested $1000 or more.
The second Yo Club benefit is an additional 10% match on binary commissions paid to personally recruited affiliates.
The Yo Club binary match is paid in YoCoins and only on recruited affiliates who do not qualify as Yo Club affiliates themselves.
Finally, Yo Club affiliates also receive residual binary matching commissions, paid out down an additional two levels of recruitment.
The Yo Club binary match is 10% on level 2 and 15% on level 3.
Commission Withdrawal Fees
YoCoin charge a 10% withdrawal fee when affiliates convert virtual wallet commissions to actual money.
YoCoin affiliates must reinvest 30% of all commission payouts back into YoCoin.
Affiliate membership with YoCoin free. In order to earn MLM commissions however, either the affiliate or recruited affiliates must invest at least $50.
The more a YoCoin affiliate initially invests (up to $2000) the more they can earn through the YoCoin compensation plan.
The YoCoin concept is born out of the success of the pioneering cryptocurrency, Bitcoin.
Another MLM cryptocurrency riding on the coattails of bitcoin? Who would have guessed…
YoCoin combines a pyramid scheme compensation plan with a pump and dump altcoin.
Basically the anonymous owners of YoCoin have been busy mining their cryptocurrency since January or so. Now the plan is to launch an MLM opportunity, through which affiliates buy these coins from them.
The hope is that the MLM opportunity will generate artificial demand for YoCoin, which in turn means the owners of the company will turn a profit offloading the coins onto YoCoin affiliates.
Naturally purchasing yet another worthless altcoin isn’t something that will happen organically, and so you have pyramid style commissions to incentivize YoCoin affiliate recruitment.
There’s no way around affiliates getting paid to recruit new affiliates in YoCoin being pyramid scheme in nature. Securities issues are also raised, with YoCoin affiliate fees quite obviously a speculative investment.
There is no mention of YoCoin having registered with the SEC or a securities regulator on their website. This would mean the YoCoin MLM offering is an unregistered security, which is another problem.
If regulators don’t shut down YoCoin, the cryptocurrency will experience a minor value increase corresponding with YoCoin launch hype and new affiliate recruitment.
YoCoin’s founders will dump coins on YoCoin affiliates and turn a profit.
With no genuine demand or use for YoCoin outside the MLM opportunity, once affiliate recruitment drops off the value will plummet.
Once again the scenario of affiliates in an MLM cryptocurrency being left with worthless altcoins will play out. YoCoin’s owners, having already made their money, will wash their hands of any responsibility and claim the value of the coin is out of their control.
They’re not wrong. Only with the MLM opportunity having collapsed there’s now no demand for YoCoin – only an abundant supply.
Meanwhile you as a YoCoin affiliate get to watch your YoCoin value approach zero. YoCoin affiliates who don’t earn enough in recruitment commissions to cover their initial YoCoin investment, lose out.
Oz, your review about YoCoin being a pump and dump investment scheme is right on the money.
The YoCoin Leadership allowed some friends, contacts and family members here in the USA to buy in at less than 1 cent.
Prior to June 1st, the daily volume seldom exceeded 1,000.
Then, June 16, 2016 volume spikes to over 7,500
On June 22, 2016, the price closed at .0122 on volume of 13,770
July 6, 2016 the priced closed at .2302 after hitting .30 on volume of 544,000
Today, July 22, 2016, the price is .1496 on volume of 40,609.
What happens if those investors that paid between .20 and .36 panic and try and sell all those millions of coins tomorrow? With ONLY 40,000 coins traded today…..the price will plummet to next to nothing. This is basic supply vs demand.
Over the past two weeks, some investors have paid as much as .36
IF they sold today, they would already lost over 50% on their investment.
However, the original developers have already made 3500% on some of their YoCoins. Of course, they do have to pay commissions & overrides to the ponzi pumpers who bring in their friends, family members and social media contacts.
At a price of .14, they are still earning 1500% and some “insiders” are too (if they are actually able to sell)!
Our regulators need to make an example out of these cryptocurrency ponzi scammers. It is time to send a message that the USA is not a “safe place” for you to steal money from your friends, family members, social media contacts, seminar invites, seniors, naive investors and those who are easily swayed by “need and greed.”
I believe they will do this with OneCoin scammers soon.
One thing is certain, it can’t happen soon enough as there seems to be a New Cryptocurrency Scam launched every week recently.
YOCOIN IS BIG SCAM. ONE OF KOLKATA (INDIA) BIG SCAMER MR. S. BANERGEE OPERATE YOCOIN.
SO PLZZ BEWARE DONT INVEST BIG CHETER OF INDIAN MARKET.
YoCoin Price Update:
As of July 25, 2016 the price of YoCoin is .136081 on volume of $16,536 (24h)
The volume has dropped dramatically from the $819,000 it hit back on July 4, 2016.
Anyone with half a clue about the laws of supply & demand knows this is NOT a good sign for those who paid as much as .36 for YoCoin a few weeks ago. They have already experienced a loss of 62%.
It could be worse, the investors could have bought OneCoins from ponzi pimps like Kevin Foster and be sitting on a 100% financial loss.
To this I say – – #ACultureOfCriminalActivity #TheRipOffEffect #AttitudeofGraft #ChainGangTechnologies #SchooledMinors #TheNewConn #MrVultureOfFreedom
When will this character wake up and take responsibility for the harm he he is doing?
I fear it’s too late for so many naive and gullible investors. Ignorance is NO excuse!
Firstly affiliate membership is free and not tied to an investment. You can earn from free so you may want to read through the comp plan again.
YoCoin have just joined the Ethereum platform and it’s basically been on hold for a little while which is why the prices started to go up and then come down plus many people mines YoCoin as well as the company.
In fact more YoCoin was mined by individuals than the company until they stopped the mining. Those that did mine it are the ones that have been selling over the last few weeks when the price reached 39 cents.
Those in the USA that got it for less than a cent were the first people in. You get the market price when you buy from goyocoin.
Oh and how can investors sell today MLM broken model? If you read the comp plan investors get the coins over a 20 week period after the first 4 weeks which is 5% per week.
And why would they sell now? Nobody is joining to make a quick hit. This is a 2-3 year investment strategy for most. Some will sell once they get 10 times their money I suppose.
And who is MR. S. BANERGEE?
Not been able to find anything about him! If he’s such a big scammer, there would be some info.
You can’t earn MLM commissions as a free affiliate. You have to invest, ergo it’s an illusion that YoCoin affiliate membership is free.
Not through the MLM opportunity.
No it isn’t. Where do you think those 5% a week coins are coming from?
The anonymous company owners are getting rich selling worthless coins to YoCoin affiliates.
Suckers are buying up in the hope that, magically, their worthless YoCoins will be worth something “in 2-3” years. Classic altcoin pump and dump.
Again please read the comp plan again. A free affiliate can recruit people and when they invest the affiliate earns 10%.
Once they have earned $20 in commissions they can then earn from the binary. It’s in black and white on the comp plan.
There are no personal product purchase requirements to earn a two team (binary) commission.
* YCA commission redemption distributions start once an account has a $20 balance.
There are 300 million coins in a vault set aside for members of goyocoin. This is where the coins come from.
Which is not an MLM commission. The binary an be earned from by convincing others to invest but let’s cut the crap. You still need to invest direct referral commissions to earn through the binary.
Nobody is joining YoCoin without investing, it’s counter-intuitive to how the business is marketed. “Free affiliate membership” is pseudo-compliance.
Set aside by whom? Who owns the coins?
Follow the money. YoCoins are being sold to suckers by someone. That person is getting rich, in a classic altcoin pump and dump scheme.
I can’t make it any clearer that free members can earn from MLM. Firstly they earn direct 10% commission and once they have earned $20 they earn from the binary which is MLM.
Again here is the part of the comp plan:
There are no personal product purchase requirements to earn a two team (binary) commission.
* YCA commission redemption distributions start once an account has a $20 balance.
Feel free to explain how that is not earning from MLM.
Binary commissions are tied to investment. Either you are investing directly or indirectly.
Someone has to invest $50 for you to earn MLM commissions.
But you don’t have to in order to earn from the binary MLM. That’s the point I’m trying to make.
No matter what it is in the world somebody has to buy or invest in order for others to earn money whether it be MLM or buying a coffee.
Fair enough point. I’ll make the “Joining YoCoin” section a bit clearer then.
Thanks. Can you let me know what others you say are pump and dump crypto opportunities?
I’m well aware of OneCoin, but that’s not a real coin being traded.
Just curious to know what others have pumped and dumped so to speak. I’ve been looking at Leocoin as well.
YoCoin’s actually the first pump and dump MLM cryptocurrency I’ve run across. OneCoin is a straight Ponzi.
Most of the MLM opportunities launch with Ponzi points which are later converted into an actual cryptocurrency (which invariably flops). YoCoin is the first MLM cryptocurrency I’ve reviewed with a coin good to go and no points in the middle.
Ok, so no real proof of pump and dump as such, just a suspicion.
I can understand with the company not being up front about who owns it etc.
They teamed up with a company that have created an app for crypto currency to be used by companies willing to accept the coin as payment. Some major banks are coming on board as well as large companies, so I suppose we will have to wait and see how it all pans out.
I’ve researched the guys that own the app and have built the mlm structure. Certainly no red flags there, so my only issue is who actually owns it because it’s difficult to go off the word of the guys running the mlm even though they have a good background.
Somebody above named a guy in India as the owner. Can anybody shed any light on who he is and show any proof that he owns it please?
I can’t find anything, so I would like to know where GODGIFT got the name from and what makes them believe he is the owner.
I’ve not been able to establish any Indian connections.
I can only find this name when searching for scams using the name mentioned above: Sean Banerjee.
The anonymous owners of YoCoin are dumping their pre-mined coins on YoCoin affiliates, on nothing more than the promise of imaginary riches.
Pump = “We’ll be the next bitcoin in a few years!”
As well as:
You don’t know who owns YoCoin but you know this? Hah. That’s exactly how pump and dump marketing is supposed to work.
The promises by MLM cryptocurrencies are all the same. “Big companies”, “merchants”, “major banks” etc. etc. All fluff unless documented proof is provided (never is).
Dump = “Buy our pre-mined worthless coins while stocks last!”
Doesn’t fly when it comes to MLM companies. There’s no legitimate reason for the owner of an MLM opportunity to not be public.
Not sure yocoin say they will be the next bitcoin in a few years, but obviously everybody in business wants to be like the main competitor. Every crypto wants to be Bitcoin or what’s the point in it all?
You will get people saying imagine buying so much bitcoin 7-8 years ago, then saying you can have another chance bu buying yocoin or any other coin.
It’s obviously going to raise interest levels. Providing affiliates make it clear that they are making an investment and with that comes risk, then I see no issue.
I would be happy if YoCoin does 1 tenth as well as bitcoin because the 10-12 cents I paid will be worth $50 each.
With regards to documented proof, we will need to see this when it comes to light. I assume if it does, then that would change this article somewhat. I think getting on the Ethereum platform is a good start though.
While stocks last? 300 million is a lot of stock to rush out and buy 🙂
I fully agree about the company owners being secretive and the only answer I got was it is a group of investors that wish to remain silent. Heard it a million times before and it makes it impossible to have faith.
If I was running something like this I probably would not want to be named myself for many reasons, however, the way I work and have done for so many years in this industry is that by being honest and upfront, you gain trust.
Has YoCoin registered with the SEC? Has the company registered with any securities regulator?
Risk yes? How much risk. The risk is incredibly understated in these things, which is why the promoters hide and avoid disclosure as required by the SEC.
The suckers (investors) are never informed that they’re vitually 100% certain to lose their investment but instead are led to believe that they are making no worse than an even bet when there is not even a 50/50 chance that they will get their original investment back much less make the fantasy returns suggested.
Listen to yourself. You think you can pay a few cents per coin and have them rise to $50. You are out of your mind.
How much risk? Whatever financial value they decide to risk. I would only ever advise somebody to risk what they are prepared to lose.
Is that based on it could go up or could go down lol. There is a lot more numbers higher than there is lower. At the end of the day there is a lot more to gain potentially than there is to lose, but it is an investment and with it there is always a risk.
Why am I out of my mind?
I know we shouldn’t, but lets use bitcoin as an example shall we. Were they out of their minds for buying it for a few cents a few years ago? The answer to that is yes according to you because it was a 50/50 gamble.
Another example is OneCoin. Were they mad to buy that for a few cents a year ago? The answer is yes according to anybody with a brain because there is zero chance of making a profit on the currency itself because it does not even exist.
I know which one of those gambles I would prefer to risk $50 on anyway.
CURRENT YOCOIN PRICE UPDATE:
$ 0.120774 (-9.82 %)
0.00018421 BTC (-9.90 %)
Volume $ 13,062 (24h)
Wow! Since it went MLM, price goes from less than $ 0.01 to $ 0.39 and now back down to $ 0.120774
Volume for the last 24 hours ($ 13,062) is the lowest since it went MLM.
This isn’t looking good for those who were tricked/suckered into buying YoCoin.
I have sophisticated business associates in the Oil & Gas business that are buying Yocoin, LARGE AMOUNTS of it.
they are not stuid people. They missed the Bitcoin in the early stages and what they do is they do allot of business in India and around the world selling drilling rigs bigtime… there in Yocoin for the upside as they are holding and using Bitcoin.
Buying Yocoin is kind of like a penny stock in my mind, we shall see what the association with Etherium brings. I got mine at less than half a cent and I’m sitting on a big chunk of it.
really could give a rats ass about the networking side of it other than there was only 3,000 people in the deal when I signed up. Now there are over 50,000 in the community worldwide.
That’s a real accomplishment to me. Maybe not for people who HATE success, any kind of success.
Yeah they are. “Did you miss bitcoin?” is the catch-cry of every shitcoin pump and dump scheme.
And how are you going to achieve “success” in YoCoin? What’s going to drive the price up? Other than recruiting new “stupid people” into the scheme?
Cryptocurrencies don’t just magically increase in value, there has to be genuine demand and for that it needs a use. YoCoin has no use outside of the attached MLM opportunity.
That’s what all the dreamstealers all said when we joined Nu Skin back in 1984. As the saying goes “Some people make things happen, others watch things happen and the rest wondered what happened.” Hahaha…YES! Strongforce only picks winners.
Just to confirm, have you been able to sell any of the YoCoins you purchased at under $0.01 yet?
Yet you’re still joining these schemes. How’s all that self-pumping talk working out for ya?
So, StrongFarce goes from pumping an overpriced pyramid scheme to selling unregistered investments and pimping a ponzi scheme.
He sure knows how to “pick winners” alright.
What he meant to say was, “As long as I (StrongFarce) make money, it’s a winner!”
I just attended a YOcoin opportunity meeting in Dallas to see what they were saying. It is absolutely a pump-n-dump scheme.
They use the same tactics as OneCoin saying Bitcoin is for the rich people and YOcoin is for the everyday people because they can’t afford to buy a bitcoin at its high price.
Huh? Have they never heard of a Satoshi? A fraction of a Bitcoin?
The presenter said the main distinction of YOcoin over Bitcoin is that YOcoin has far greater capacity with 2B coins.
Have they not heard about the law of supply and demand? Just like OneCoin they are really taking advantage of the uninformed public about cryptocurrency.
After the meeting I went home and pulled the YOcoin source code from github to review the technical specs. It seems they have had some problems with their specs.
YoCoin was first released in December 2015 with a total money supply of 84M, the same as LiteCoin. Then in the spring of 2016, the money supply magically became 302M.
Now all the sudden I find a hard fork in the source code listing the money supply at 2B. It seems they can just arbitrarily increase the money supply at will, not unlike the government running the printing presses whenever they need more money.
A cryptocurrency’s technical specifications are fixed and can only be modified by consensus of the majority of decentralized miners. Real miners never vote for a money supply increase. It is a big red flag signalling manipulation by a central authority.
They have two blockchain explorers listed at bitcointalk.org/index.php?topic=1279956.0. explorer.yocoin.org listing the coin supply at 406M and the other, blockexperts.com/yoc listing the money supply at 302M. CoinMarketCap also lists their money supply at 302M.
The 2nd blockchain explorer has not reported a new block in 16 days. It also shows a list of 36,208 coin addresses in their rich list. 7743 addresses total 323M coins and 2603 addresses have negative balances, which is impossible for cryptocurrency. The technology behind the coin is definitely messed up.
And why would the owners of YOcoin need more coins? To sell to unsuspecting investors, that’s why.
This is the same scam run by all the MLM cryptocurrency coins. “Buy our coin now while it is cheap and when the price goes up you will be rich”, that is the typical pump-n-dump scheme getting rich off the MLM commissions selling the fraudulent investment packages.
They can never answer the basic question “How will you deliver value to the marketplace to drive buyer demand?” That is the only way a cryptocurrency coin gains value in the long run.
They are all speculative trading scams – pump it up and convince someone else to pay more than you did.
They are now saying all their technical problems are behind them because they are moving to the Ethereum platform. Ethereum is just the technology platform and still allows YoCoin to do any money supply and pricing manipulating they want.
The other big part of the scam that most MLM coins promote is that they will have merchants that will accept their coin. That’s great except that it only benefits existing coinholders with an option to sell their coins and it creates seller demand that decreases the coin price.
The coin price will only increase long-term with buyer demand. They have to give the public a good reason to buy and use their coin before the price will really increase.
They are creating a base of investors as coinholders that are looking for the first opportunity to cash in for a great ROI. That will crash the price immediately.
I’ve seen many alt coins be played on the public exchanges with price manipulation. The game goes like this, you buy a lot of coins from another address you own at higher and higher prices.
You still hold all your coins and paid a minimal transaction fee to pump the price up. The public thinks they have a rising star and they start buying, then the pumper sells his coins at the higher price – typical pump and dump.
The YOcoin developer had over 1M YOcoins on C-CEX public exchange and was trading them amongst himself to artificially inflate the price to give the illusion to the investors that the price was increasing and creating a great ROI for them.
The price increase surprisingly stopped when the developer reported that his 1M+ coins were hacked on C-CEX. The YOcoin price has been on a downward trend since then.
Another big problem on the MLM side of the business is the lack of retail sales and the selling of a security.
Everyone that is buying YoCoin signs up at the exact same place and is placed in the compensation plan structure. The regulators see this as a distributor and not a retail customer regardless of the label of “Preferred Customer” that YOcoin puts on them.
Regulators see “No Retail Sales” as a pyramid scheme because the only money being paid in is by the same people being paid bonuses – it’s all internal consumption.
They are also blatantly selling coins, which has already been ruled as selling a security. They don’t even attempt to disguise it as a product or mining services purchase.
The marketing arm of YoCoin is apparently based in Dallas, TX, USA and will be shut down by US regulators. OneCoin attempted to do business in the US on 7/4/15 but pulled out less than 2 months later because of investigations by the US regulators.
Also like OneCoin, YOcoin has a delayed withdraw process for your purchased YOcoins. They have to to prevent a run on the bank.
You can only take out 5% of your YOcoins a week. OneCoin allows 7.5% weekly, although most OneCoin withdraw requests are delayed or cancelled.
This is all a game to prolong the scam. Real cryptocurrency has no limits on its use. If people really wanted YOcoins they would buy them on the public exchange with no limitations, but the reality is they are being purchased as part on the MLM scheme.
The bottom line is that YOcoin is a real cryptocurrency just like the other 3367 public cryptocurrency coins, but like almost all of those coins has no real value builder.
Investors are hood-winked into thinking they are getting in early on a great investment. But without real value creation, the price will crash as soon as investors start selling to capture their ROI.
The YOcoin originators walk away with millions in investor’s money after they pay bonuses. It is a common phenomenon with all new technology waves, the uninformed public are preyed upon by the scammers.
Hi, Bob! Are you THAT Bob Wood (GCR and Nexxus)? What about (Ozedit: Offtopic).
Thanks Bob, for a fantastic exploration and technical “dive” into how these scams work! This is the best comment I’ve seen so far explaining and describing the fundamental issues and “duplicity” of playbook that the new tending cryptocurrency ponzis are clearly using!
This perfectly describes both the template, as well as the fact that the cryptography and development of these pseudo-cryptocurrencies are not ruin by qualifies computer scientists and development teams. Thanks for this!
Oh Tim, what am I going to do with you? Career network marketers are not our friends.
@Char – Let’s take Bob’s analysis strictly from a technical stand-point and not throw the baby out with the bath water.
The information is on point in regards to “how these ponzi’s work” – which is valuable info to you, me, and anyone reading this. Thanks 🙂
He’s a vulture looking for fresh meat. If you give your stamp of approval by complimenting him, he might use that to recruit into his latest scheme.
He’s just a more knowledgeable version of McMurrain and will use that as a tool to lure people in.
@Char Had to mark that one as offtopic. Nothing to do with YoCoin.
I get Bob Wood is a polarizing figure in the industry, but if he’s not explicitly discussing his own opportunities then badgering him about it on anything he comments on is likely to just instigate a derailed discussion.
Another problem is one of their U.S. leaders Bruce Bise*.
Bruce is a convicted felon and has been in prison and convicted several times for running business scams. He was convicted for felony forgery and fraudulent schemes artifice and spent nearly 5 years in Arizona Prison (see record below).
Some say Bruce tops the top 10 in MLM scams. Bruce claimed he “found Jesus” in the Arizona prison from January 29th, 1997 to September 28th, 2001, but then why did he continue to working a string of multi level marketing scams including:
•MY SHOPPING GENIE has a checkered history where Bruce held the position of Master Distributor and worked directly with the founders.
•CELEBRITY GALLERIES INTERNATIONAL INC, Bruce was the owner and they sold reproductions of celebrity photographs printed with an ink-jet system. The company was started in May 2005 and disappeared at the end of 2007.
•GET MOVING TODAY – Bruce was president and CEO. Get Moving Today, which sold web portals, auto responders, pain pills and the “fridge diet”, was set up in 2002 and filed for Chapter 11 bankruptcy protection in September 2003, leaving its distributors unpaid after their investments.
Bruce Bise said that bad checks and auto-drafts caused the crunch but even his sister and brother were in on the GMT scam!
*The following information was collected from online Public Records – Bruce E Bise was booked in Maricopa County, AZ. The below Official Record was collected from a Law Enforcement agency on 9/26/2012.
DOB: 9/10/1961; Gender: MALE; Height: 6′ 1″ (1.85 m); Weight: 220 lb (100 kg); Hair Color: GRAY; Eye Color: BLUE; Ethnic Origin: CAUCASIAN; Inmate Number: 064012; Custody Class: 2/1; Inmate / Detainee: INMATE; Sentences: 7 years; Admission Date: 1/29/1997; Release Date: 9/28/2001; Max End Date: 11/23/2002.
0.00010780 BTC (-24.18%)
I wonder what the poor investors who paid .35 cents or more are thinking right about now?
Who would ever accept YoCoins for payment when the value can (and does) drop 24% in just 24 hours?
Will the Securities and Exchange Commission take action against the sellers of YoCoin for selling investments without a license?
Great News for all of the investors who paid .35 cents for their YoCoins!
0.00015068 BTC (23.27%)
Yesterday, you were DOWN roughly 87% on your investment. Today, you are ONLY down roughly 75%.
When will these naive investors learn that the entire “MLM World of Cryptocurreny” is nothing more than a scam?
The bigger question – – when will the regulators pull the plug on this obvious con-game and hold the ponzi-pumpers accountable for stealing the hard-earned money of the naive (and greedy) investors?
YoNo, you are 100% correct!
Bruce Bise, he did it again, now forcing all the YoCoin investors to get in on his new scam: qyckbit.
Another OneCoin scam; YoCoin scam; seemly selling people a dream.
Bruce Bice and Sam Mendez Need the SEC up their asses fast before more innocent, hard working, mom n pop shops loose their life savings. BitQyck is a fraudulent Scam!
Interesting find: Chris Principe’s business partner in Trade Solutions Group, Herve Lacorne has a yo-coin video on his YouTube playlist.
Principe is/ was [?] Vice President of “TSG” since 2014, I believe, but peculiarly, has completely scrubbed the job history or affiliation from his LinkedIn profile, altogether since (although it still shows under a cached Google Search, before clicking through).
What’s interesting about this is that the video of Yo-coin back office shows how to make payments using OlePay. OlePay CEO is Chou Nguyen.
Nguyen, Principe and Lacorne ALL have photos together, collectively, as well as having photos together, individually with numerous top leaders in Onecoin (Ruja, Sebastian, Juha, etc.).
What’s MORE interesting is that an physical address search shows that OlePay (and Ole Foundation) offices are located in the same building as TSG. Furthermore, several of the Onecoin/OLN online payment channels (ie., “Gift Codes”) such as some of the “MoonLearning.com” variations and Papa1coin.com (Parhiala’s defunct[?]) payment gateways are registered to Lacorne/ TSG.
Some of these go back to end of 2015, presumably directly after Onecoin was trying to cover up or make people forget about the fake Forbes debacle (and for which would have chronologically been the likely negotiation timeline with Principe for the Financial IT REPRINT deception).
Could it be that Trade Solutions Group and OlePay have teamed up in capturing “crypto MLM” payment channels to solve the traditional banking issues these schemes progressively began running into?
Would be interesting to know what, if any, relationship to, say, Trident Siam payment channel in Thailand/ Vietnam either OlePay or TSG (or BOTH) have!
Here’s the video in question: m.youtube.com/watch?list=PLU_0KChEWA8DH01rzIGynVaXXFeRn4hE4&v=CV5-52_B-4M
Lastly, we’ve seen Principe speak at other crypto MLM events, such as WCI recently (in fact on the same trip a few weeks back at the OneLife Leadership Summit in Phu Quoc, Vietnam.
Could it be that Principe and affiliate partners have found an interesting niche in “Supple Chain Financing,” under-the-radar, so-to-speak, with MLM underbelly crypto schemes needing alternative banking avenues to move money up the ladders??
rotten scam full of crap.
What’s more, it’s a fast dying rotten scam full of crap.
It peaked at around the 40,000 most visited site in November 2016 and is currently sitting at 274,992, with a fall of 29,177 visitors over the last 90 days.
Interesting to note, also, is 42.9% of visitors are from India, with 28.8% coming from South Korea and 7.3% from Nigeria.
Is this ponzi still operating?
Depends on what you mean by “operating”
Alexa traffic rankings show it peaked at a global rank of >150,000 in March 2017, and now sits at 248,540, having dropped 49,126 in the past 90 days.
IOW, anyone who invests now is guaranteed to lose their money.