Is DasCoin a Scam or Ponzi?
What is a Scam?
This is the definition from www.dictionaries.com
- A confidence game or other fraudulent scheme, especially for making a quick profit, a swindle.
- To cheat or defraud with a scam.
What is a Ponzi
This is the definition from www.dictionaries.com
- A swindle in which a quick return, made up of money from new investors, on an initial investment lures the victim into much bigger risks.
- A confidence game or other fraudulent scheme, especially for making a quick profit.
Before I work through the key points in some of these articles I need to state that I am a Netleaders Licence holder. I purchased a 2000 Euro Licence on the 7th October and a 5000 Euro Licence on the 2nd January 2017. I assessed the risk against the information I had and believed that this “cryptocurrency” investment was not as conventional as say buying stocks or commodities but it came with a business model and reward for the investment risk that I have accepted.
I work on line and have promoted investment products that have turned out to be less than premium and lost money personally as did other people that followed my video and blog recommendation. Even though I state in all this marketing material that you only invest what you can afford to lose…I still felt somewhat responsible.
So before I went into a serious marketing and promotional phase with DasCoin I decided to spend approximately $5000 AUD to attend a NetLeaders Global Leaders Summit in Dubai (24th – 27th November). This event was attended by approx. 60 people from all parts of the world. The attendees were from a wide experience base, but primarily seasoned marketers. I then attended a second NetLeaders Global Leaders Event in Hong Kong (14th -16th January, 2017.
A substantial presentation of the past, present and future developments of the DasCoin “EcoSystem” was given by the owners and managers of the business. A wide range of questions were posed to the owners and management. Not one question or it’s answer swayed any attendee from not supporting this business.
Issues from past involvement with OneCoin, transition to the new marketing system, minting the coin in Quarter 1 2017, trading on 2 external exchanges in Q2, DasPay (mobile payment solution), SmartContracts and much more were discussed an in depth level.
The owners and managers, like many of us have had some exposure to a competitor, some of us have been recruited from a competitor. I have no issue with that as long as the involvement was professional and is disclosed.
This not a business run from that back room of some 1 bedroom apartment in an “undisclosed” location. The CryptoCurrency R&D & CEO work from an office in Belgrade and has a payroll count of 20 people.
The resumes of the owners and management team can be found on this website…but suffice to say they are a collection of real people, running a real business and providing a business opportunity to Netleaders Licence holders and more broadly the global community that will be able to use many features of the DasCoin EcoSystem.
Ok so on to some key points…
There have been a very small amount of criticism published accusing DasCoin owners of being a scam or Ponzi. Which in my view in most cases use sensationalistic language and misleading information to drive traffic to these review sites with the aim being to send you to other on line opportunities that they sponsor.
A summary of review articles on NetLeaders/Dascoin, the marketing entity managing the sale of “cycle” software licences, is addressed here.
- NetLeaders website states that the company is operated by CL Singapore Pte Ltd based in Singapore which is wholly owned by Coin Leadership Limited based in Dubai – Correct
- John Pretto & Michael Mathias have been associated with OneCoin – Both had a very brief association with OneCoin and when this company did seek to register this business in the USA our CEO removed himself from any public association. John Pretto did the same shortly after. Asked and answered at the Dubai Summit.
- NetLeaders has no retailable products or services, with affiliates only able to market NetLeaders affiliate membership itself. Not Correct. NetLeaders sells software licences that will provide DasCoins, Smart Contracts and other products & services that will be announced shortly. The proprietory blockchain asset will be leveraged into the banking industry.
- NetLeaders affiliates invest up to €25,000 in DasCoin, a “hybrid cryptocurrency” run by Hong Kong based DasCoin Limited. It blends the best of the centralized and decentralized (BitCoin) cryptocurrency. It is a unique structure that will add value, confidence and adoption worldwide.
- DasCoin itself is not publicly tradeable and can only be acquired through Coin Leaders investment. Not Correct. Dascoin will be traded on external exchanges in Q2 2017.
- The corporate structure of NetLeaders appears to have been implemented with money laundering in mind. Rubbish
- The Ponzi element of NetLeaders is the investment of funds which are converted into DasCoins. The value of DasCoin is assigned by DasCoin Limited, the company running the point-generation script that spits out DasCoins. Not Correct Refer Point 5.