So I recently did a video covering the latest of many lending platforms popping out of nowhere, Thorncoin. I'm not a hater or against the idea of being able to make huge profits with small investments. However after the Bitconnect fiasco, more lawmakers will be taking a closer look into whats happening within Cryptocurrency with a critical eye and can now use Bitconnect as a reference.
Thorncoin seems to be very promising (aren't they all) and on the surface you may think nothings wrong BUT, there are a few things that really bother me and I'd like to share my findings in hope that I'm completely wrong because who wouldn't want to make a ton of cash and support something with longevity and credibility so I hope I'm just missing something or overrating.
Take a look:
Basically I cover the following:
- Their website and social media registration
- US residents aren't allowed to participate in the ICO but there are no parameters preventing them from easily doing so
- Typical poor English writing
- Lack of any transparency
Take a look at the video and again guys, I truly hope I'm wrong as I would love to catch the next train in a few days. Share your thoughts...
PS. Someone mentioned in my video comments that it is an ERC20 Token but will only accept BTC which is also very interesting...
Thanks