QOIN – The 31 Billion Scam?

Those who don’t know, this is a very sophisticated scam in Australia. They have even sponsored major sports teams.

These guys have been running a scam for years. Years before they instituted Barter Card, a rewards points system which is only a front for their pyramid scheme.

The price of the Qoin is controlled by the team, ie they say they are giving you $10k of Qoin for 10c, although the app’s own screen says it’s only $2. Wow, magic!

From – https://www.quora.com/Is-Australia-based-crypto-company-QOIN-a-Ponzi-scheme

Scammers create bogus utility tokens and ICOs, which are highly unregulated, to make quick money from utility tokens.

I don’t understand why any business would sign up to accept a make-believe payment.

If you accept Qoin as payment for your business, the only way you can spend it is to send it to others who have downloaded the app. You are literally offering your goods and services for free with the hope that one day, you might be paid for them.

If this isn’t alarming to you, then maybe start setting fire to your money.

Source: https://qoin.work/

Answered August 9 Originally Answered: Is Australia based crypto company QOIN a PONZI SCHEME?

I’ve looked into this company and personally, I believe it is a complete scam. There is no token by the name of ‘Qoin’ listed on any of the exchanges.

Why would a company start signing up business owners before the cryptocurrency exists? It screams ponzi scheme.

Their staff have no technical understanding of cryptocurrency (I’m not sure if they’re in the crypto game or being played).

They are trying to build hype and get you to buy more of their currency by FOMO while it’s ‘cheap’, but in reality the ‘Qoin’ does not exist.

For crying out loud, look at their marketing tool. Classic PONZI!!

According to their white paper listed here and their price of $3.11 on their website, QOIN’s market cap is 31 Billion dollars.

Keep in mind that this coin is not listed on any exchange and there is no way to convert the coin into FIAT.

You can only spend the coins by going to other businesses that the scammers have convinced to give away their products and services for FREE, or should I say, in exchange for Qoin.

Why would you give out something of value for free? They don’t, they believe they’re being paid in a new cryptocurrency. Can they then sell all their Qoin at the end of the month? No. They, too, must find another business that accepts Qoin.

As Matthew Mcconaughey says in the movie, “You need to keep them on the Ferris wheel, 24/7/365″…

16 thoughts on “QOIN – The 31 Billion Scam?

  1. Well, it’s December 2020 and Qoin is now listed on the BTX exchange and can be exchanged for cash. They expect to trade with Bitcoin and Ethereum in 2021.
    I have personally met and discussed with Qoin holders who have traded their Qoin for cash.
    The Bartercard you commented on is listed on the ASX and operates in numerous countries around the world, but principally Australia, NZ, and SE Asia. I personally have bought real estate and international travell with it as well as all manner of goods and chattels.

    Seems like everything you have stated has proven to be false.

    1. A Ponzi scheme (/ˈpɒnzi/, Italian: [ˈpontsi]; also a Ponzi game)[1] is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors.[2] The scheme leads victims to believe that profits are coming from product sales or other means, and they remain unaware that other investors are the source of funds. A Ponzi scheme can maintain the illusion of a sustainable business as long as new investors contribute new funds, and as long as most of the investors do not demand full repayment and still believe in the non-existent assets they are purported to own.

      Among the first recorded incidents to meet the modern definition of Ponzi scheme were carried out from 1869 to 1872 by Adele Spitzeder in Germany and by Sarah Howe in the United States in the 1880s through the “Ladies’ Deposit”. Howe offered a solely female clientele an 8% monthly interest rate, and then stole the money that the women had invested. She was eventually discovered and served three years in prison.[3] The Ponzi scheme was also previously described in novels; Charles Dickens’ 1844 novel Martin Chuzzlewit and his 1857 novel Little Dorrit both feature such a scheme.[4]

      In the 1920s, Charles Ponzi carried out this scheme and became well known throughout the United States because of the huge amount of money that he took in.[5] His original scheme was based on the legitimate arbitrage of international reply coupons for postage stamps, but he soon began diverting new investors’ money to make payments to earlier investors and to himself.[6] Unlike earlier, similar schemes, Ponzi’s gained considerable press coverage both within the United States and internationally both while it was being perpetrated and after it collapsed – this notoriety eventually led to the type of scheme being named after him.[7]

    2. I can confirm that the exchange launched and qoin holders can exchange their qoin for cash.
      Can I ask you Qoinholder, what is the ASX ticker for Bartercard? Can’t seem to find it. Thanks

    3. QOIN will never be traded for BTC and ETH as long as they have their own exchange. I suppose you could say you got things for free from people who know no better. Bartercard is not listed on ASX, so maybe you should take things told to you with a grain of salt. I also suppose you’re one of the founding members of QOIN and have millions of QOINS in your wallet for free that you’re using to swindle others. If you believe in karma, I think you’ll watch your near and dear ones meet horrific situations as punishment and at that point you may realize that money isn’t everything, but ethics is what matters…

    4. I totally agree with you Qoinholder.At least there is a trading platform to sell goods and services. BITCOIN seems opportunistic and a FOMO gamble though Im new to the game and still learning .

      If what this report is saying is true then isn’t BITCOIN in the same basket and a Ponzi scam?

  2. You have not done your research properly, your bonus description that outlines referral system is totally false and does not exist. I have been part of it since June 2020 and never heard any Of those terms used.

  3. Exchanged Qoin services and cashed out, joined Qoin for free, also Joined BarterCard back in the day and it was a hard to cash out so I get the article bias. But Qoin has made it easy to exchange services with Moms and Pops businesses and now its on the BTX I’ve converted Qoin to Cash.
    The article is very biased in it’s confirmation and fact finding, this is why you shouldn’t believe everything you read online and do your own research.

  4. This is horse shit. You can sell qoin on the marketplace for real money. It draws potential customers to you from far and wide who otherwise would never have heard from you. Check your facts

  5. I cashed in my $1000 investment with Qoin and left the rest in to continue growing. I’ve used Qoin to pay for restaurants and other services. Can’t complain at all.

    1. you cant find Qoin on actual exchange because they do not have a visible blockchain it is hidden for a reason, so you cannot see the buybacks to their own reserves. They created BTX themselves under their umbrella BPS. BPS bought bartercard. the algorithm is horseshit and based on nothing, the free market currently has this shit desperately listed on gumtree for $1.80 today, your investment wont be growing, you’ll be lucky to cash any of it out, it’s worth nothing and imploding fast

  6. This is the dumbest thing I’ve read ppl are scared of change everyone said bitcoin was a scam now look grow up do oyur research first then make a valid article ive withdrawn over 50k from qoin of a 10k investment how is al earlier coin a scam

  7. This is the btx exchange you can buy and sell qoin from https://blocktradeexchange.com/fact-sheet/
    It is a controlled exchange trading only qoin and aud. the currency is not floating – its price is controlled by an algorithm. the currency qoin is not on a publically visible blockchain. I cannot find any other exchange which trades Qoin.

  8. I totally agree with you Qoinholder.At least there is a trading platform to sell goods and services. BITCOIN seems opportunistic and a FOMO gamble though Im new to the game and still learning .

    If what this report is saying is true then isn’t BITCOIN in the same basket and a Ponzi scam?

  9. Qoin is not an investment mate, im not in it or anything to do with it, its not a crypto its a digital currency that merchants can uses to buy services and product just like coupons

  10. I don’t understand why you state you can’t cash out when you can through BTX 😂🤦🏼‍♀️
    This was a really well written article, shame all your facts are wrong. It could have been really informative for those who are interested in having an understanding

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