Dascoin

Mantis Toboggan

Following on from bitcoin, onecoin etc has anyone heard of Dascoin and got any info on it?

BrokenArrows

Why do new digital coins keep getting created?
The concept only really works if you have a single standard digital currency.
Having dozens of different types just doesnt work.

alb

Tyson Fury wrote: »

Following on from bitcoin, onecoin etc has anyone heard of Dascoin and got any info on it?

Onecoin is nothing like bitcoin, it's not even a cryptocurrency, it's a scam posing as a cryptocurrency to try and sucker people who want in on the 'next bitcoin' but don't actually know anything about the technology.

Michael Mathias
CEO, DasCoin

Cryptocurrencies don't have CEOs, Dascoin just looks like another scam.

BrokenArrows wrote: »

Why do new digital coins keep getting created?
The concept only really works if you have a single standard digital currency.
Having dozens of different types just doesnt work.

Because anyone can create one and it takes almost no effort. It usually goes like this:
1) Copy the code of some existing coin
2) Release the coin with some hype allocating some of the initial coins to yourself for free.
3) Continue to hype it causing a price rise and dump your coins for a tidy profit
4) Hype fades, price gradually declines, bagholders remain.
5) Go back to step 1.

Variations on this scam are using crowd funding or having an ICO (initial coin offering) where you raise funds before the launch or alternatively running a ponzi scheme pretending it's a cryptocurrency (Onecoin)

Nabber

Just a quick search on one coin

Onecoin has been accused of being a Ponzi scheme, both because of how it has been set up and because of many of the people who are central to Onecoin having previously been involved in other such schemes.[2] In Hungary the Central Bank has issued a warning that Onecoin is a pyramid scheme.[3] And in China, several members and investors of OneCoin were arrested in 2016 and $30.8 million USD of assets were seized.[4]

I remember buying some Doge few years ago, still got its following, online tipping and buying homeless people socks,it's running at about 22satoshi.
Crypto coins are everywhere now. Bitcoin has seen most of the off. You'll find even the faucets drying up too.

Mantis Toboggan

So do you think Dascoin is a scam and should be avoided?

alb

yes

Keith Dalton

I came across DasCoin in January last. 2017. I bought up my license at the end of January and have been tracking DasCoin since. To say it was a scam in my opinion is an un educated stab at something you know nothing about. There was a big event in Zurach On the 31st of March. Friday just gone. To launch the Blockchain of Dascoin. The minting on the coins has started. It is gonna be a game changer in cryto currency. Its aiming to be the first mainstream altcoin. It has a great networking package. Were you can earn alot of cash. If you took the advice that you got here and didnt buy your Dascoin license, Then you have lost out on a huge opportunity. Not actually lost out. But if you bought the license 3 months ago then what it will be worth in the near future will be much greater if you bought now. Its still a huge opportunity now to get involved. The coin will be hitting the open exchange in the 1st quarter of 2018.Getting a license comes from referrals. You should go and look up Dascoin and educate yourself about it. There is websites saying dascoin is ponsi scheme and pyramid scheme. Them websites are full of advertisements so I wouldn't get to put off by them. Everytime you click into them the owner of the page gets paid. Very clever way to earn. Pick a hot toppic. DasCoin, and say its a scam. Its gonna get alot of hits. I can help out if you want to go further and get on board the DasCoin train.

barneystinson

Keith Dalton wrote: »

I came across DasCoin in January last. 2017. I bought up my license at the end of January and have been tracking DasCoin since. To say it was a scam in my opinion is an un educated stab at something you know nothing about. There was a big event in Zurach On the 31st of March. Friday just gone. To launch the Blockchain of Dascoin. The minting on the coins has started. It is gonna be a game changer in cryto currency. Its aiming to be the first mainstream altcoin. It has a great networking package. Were you can earn alot of cash. If you took the advice that you got here and didnt buy your Dascoin license, Then you have lost out on a huge opportunity. Not actually lost out. But if you bought the license 3 months ago then what it will be worth in the near future will be much greater if you bought now. Its still a huge opportunity now to get involved. The coin will be hitting the open exchange in the 1st quarter of 2018.Getting a license comes from referrals. You should go and look up Dascoin and educate yourself about it. There is websites saying dascoin is ponsi scheme and pyramid scheme. Them websites are full of advertisements so I wouldn't get to put off by them. Everytime you click into them the owner of the page gets paid. Very clever way to earn. Pick a hot toppic. DasCoin, and say its a scam. Its gonna get alot of hits. I can help out if you want to go further and get on board the DasCoin train.

Thanks Keith,

When someone of your posting pedigree on Boards (a single post since 2013) chimes in on a topic I'm sure it goes a long way to easing others' concerns...

Thanks for your offer to help people out, could you just send me your bank account details, a copy of your passport and a utility bill and I reckon I'll be all set to board that train...?!

Keith Dalton

barneystinson wrote: »

Thanks Keith,

When someone of your posting pedigree on Boards (a single post since 2013) chimes in on a topic I'm sure it goes a long way to easing others' concerns...

Thanks for your offer to help people out, could you just send me your bank account details, a copy of your passport and a utility bill and I reckon I'll be all set to board that train...?!

No1 is looking for any bank details or pasport photo's. I just came across this post and said id put in my penny's worth. You have to make up your own mind on something like this. But you still need to be referred.

vintagecosmos

Came across these chaps last night in Red Cow Moran Hotel selling "licenses".

Great article on it here http://ethanvanderbuilt.com/2017/08/07/is-dascoin-a-scam-or-truly-the-currency-of-trust/

TLDR Looks like a ponzi pyramid scheme. You buy coins from people who have licences. You dont get your full quantity until you refer other "investors". The block chain is private. And the talks of been accepted for payment globally has no merchant backing to date.

Worrying enough, 2 of the chaps involved in the known onecoin scam are involved. Also there is a CEO of Dascoin which kind of completely goes against the decentralised block chain.

Keith Dalton

Just reading tru your post there. And just incase you could turn a few people off Dascoin with bad information. I am not an active seller of Dascoin. I don’t know for sure if it’s a scam or not. That’s always the risk with early adoption. You just don’t know. But If some1 wants to get into it. I help them. But only after they do there own due diligence and look up what they are doing.
The exchange is private at the min. Its called internal exchange for license holders. They hope to be on external exchanges at end of 1/4-1-2018.
About the CEO. Here is a peace from a link I can’t posted.
(CEO demands retraction and apology over blog post
The CEO of a Hong Kong-based operator in cryptocurrency and blockchain technology has filed a judicial protest demanding an apology and retraction of a blogpost by the president of BitMalta, a local cryptocurrency advocacy group,

Michael Mathias complained about a blog posted in August by Jonathan Galea, under the headline “Official Warning from BitMalta regarding DasCoin.”)

You don’t get all your coins with each License straight away. . This is to stop whales buying up millions of coins and then selling all at the same time. Which as if you know about crypto’s destroys the price of good coins and company’s.

You can sell your coins now on internal exchange and take bk out into fiat already.

Time will tell if Dascoin is the real deal or not. But for now. I hold a small license. Let’s see what happens.

alb

Keith Dalton wrote: »

I am not an active seller of Dascoin. I don’t know for sure if it’s a scam or not.

It is a scam, you bought a license/coin from the company, and now you have to make that money back by selling your coins or licences to other people right? That makes it an MLM pyramid scheme with the company at the top of the pyramid.

If it was a cryptocurrency there wouldn't be a company in control of it, and no aspects would be 'private'.

Keith Dalton

alb wrote: »

It is a scam, you bought a license/coin from the company, and now you have to make that money back by selling your coins or licences to other people right? That makes it an MLM pyramid scheme with the company at the top of the pyramid.

If it was a cryptocurrency there wouldn't be a company in control of it, and no aspects would be 'private'.

You should read tru some of there white paper. And roadmap. If they pull it off. Every1 that reads this will have some relationship with dascoin in the future in some way. What I am really hoping that they pull off is there DasPay Card. They have contract with Carta World wide payments to give them the same platform as VISA and MasterCard for there payments system. This is the silver lining for me. I don’t think Carta World Wide would put there name to a scam. And get up on stage at Dascoin Event in Poland and talk about there relationship. So we will see how this 1 plays out.

covfefe

This is 100% a MLM scam trying to piggy back on the general success of cryptocurrency to try to lure people in. Stay clear.

vintagecosmos

Hi Keith,

Decided to look into it more. Interesting comments here https://bitcointalk.org/index.php?topic=1831625.0

Do you really think it will be accepted for payments? All the marketing collateral suggests that it is already but there is no proof of this.

Even the poster promoting the Irish event is a bit confusing. It has bitcoin in the title, then Richard Bransons quote on Bitcoin, then a line from Bill Gates. Does it not strike you as odd that no other crypto has a mobile roadshow where people buy in licences and have to resell in order to make a return. How can you not call it a pyramid scheme?

Have you sold this on to anyone?

Also the code isnt open source, so there is no transparency...

vintagecosmos

Interesting comment below.

Dascoin is a “permissioned blockchain,” which makes it pretty much worthless, in my opinion. The company in control of it can shut down, get raided, seize your funds, commit fraud, etc. and there’s nothing that you can do about it.

From DasCoin - DasPay - is it a real cryptocurrency | 99 Bitcoins
https://99bitcoins.com/question/dascoin-daspay-is-it-a-real-cryptocurrency/

Drumorig

Mlm ponzi crap, these guys have nothing but a marketing team and other vested interests trying to resell it.

Keith Dalton

I have my own license. I bought my 3 brothers €100 lincense. A few freinds bought small license’s aswell. Il sit on it now and wait and see. You don’t have to actively sell licenses. You can get your own. Sit on the fence. Wait for the external exchange and see what happens.

Drumorig

Keith Dalton wrote: »

I have my own license. I bought my 3 brothers €100 lincense. A few freinds bought small license’s aswell. Il sit on it now and wait and see. You don’t have to actively sell licenses. You can get your own. Sit on the fence. Wait for the external exchange and see what happens.

For future reference, Google search a coin on bitcointalk before investing. When someone is called a scammer and won't defend themselves it should ring alarm bells. Their previous with onecoin also speaks volumes, that will never hit an exchange and if it does it will end up under 1 cent very quickly.
Can you get any sort of a refund, a mate of mine invested alot more than you and reckons he can, I don't believe him though, he has bought the hype and believes in it...

Keith Dalton

The CEO is bring that blogger to court for calling Dascoin a scam. The relationship between dascoin and onecoin is the same person built the Binary platform. When he found out what onecoin was he jumped ship and continued on doing what he does. Build binary payment system for MLM marketing.

To answer your question. You can’t get a refund. I know guys that have bought 25k license’s and would buy another 1.

vintagecosmos

So whats the story with Apple pay?

Also he didnt sue anyone as I read, he got a right of reply and that was that.

Keith Dalton

The story with Applepay is that Dascoin’s version will be DasPay. They will have the same platform as applepay, visa , MasterCard You will be able to spend your Dascoin’s anywhere you can use applepay visa and MasterCard. The company Carta international have a contract signed with Dascoin that they are the only crypto currency that can use the platform. This is the part of the dasCoin project that I can’t look away from. I could not see a company like Carta putting its name to a scam.

vintagecosmos

Keith Dalton wrote: »

The story with Applepay is that Dascoin’s version will be DasPay. They will have the same platform as applepay, visa , MasterCard You will be able to spend your Dascoin’s anywhere you can use applepay visa and MasterCard. The company Carta international have a contract signed with Dascoin that they are the only crypto currency that can use the platform. This is the part of the dasCoin project that I can’t look away from. I could not see a company like Carta putting its name to a scam.

I had a look and couldnt find much on this. Just that the President of Carta is also involved with Dascoin. I dont see an exclusive partnership, nor could I see a company like Carta giving away exclusivity.

Its not really a game changer, sure Gift Voucher Shop, An Post and Dundrum have their own managed cards accepted on terminals. All it would take is for Stripe or Google to open up their APIs to allow a coin wallet be used.

How can someone lodge money into your account if its a private blockchain?

Drumorig

Keith Dalton wrote: »

The CEO is bring that blogger to court for calling Dascoin a scam. The relationship between dascoin and onecoin is the same person built the Binary platform. When he found out what onecoin was he jumped ship and continued on doing what he does. Build binary payment system for MLM marketing.

Which one is he taking to court, seems to be a few of them https://bitcointalk.org/index.php?topic=1636850.0

Keith Dalton wrote: »

To answer your question. You can’t get a refund. I know guys that have bought 25k license’s and would buy another 1.

Your laughing so, you don't need a refund, sell yours to them people willing to throw another 25k at it.
Seriously, your getting taken here, I hold a few alts & was asked to look at this by someone I know, I was out after a minute and told him in no uncertain terms he was at the bottom of a pyramid, them lads will get sorted and the mugs with 100-25k investments will be laughed at. They have nothing but stupid grins and bull****.

vintagecosmos

Quick one Keith, what happens if they miss the milestone on DasPay. What come back do you have?

Never wrestle with pigs

Just found this thread on dascoin and I'm fairly sure it what I thought. A pure scam. Is there somewhere that you can report it before to many get sucked in?

golfman

This DasCoin thing absolutely bemuses me. How anyone can not see it for what it really is baffles me. It all sounds rosy until the chat about licences comes in and making money through referrals. Then it just screams PYRAMID SCHEME.

There's a guy on FB that does live videos every night telling everyone how they're going to become millionaires and lying about how much money he has made through crypto. He then spends the rest of the time trying to convince people its not a scam.

He's either been completely brainwashed or he's just an out and out scam artist.

vintagecosmos

Just saw this.... I didn't think it was still going...

https://m.youtube.com/watch?feature=share&v=9yuiwTiTVBE

martyoo

vintagecosmos wrote: »

Just saw this.... I didn't think it was still going...

https://m.youtube.com/watch?feature=share&v=9yuiwTiTVBE

That chap was heavily involved with Banners Broker.

JohnnyFlash

vintagecosmos wrote: »

Just saw this.... I didn't think it was still going...

https://m.youtube.com/watch?feature=share&v=9yuiwTiTVBE

Would you buy a used car from that man is the question you should be asking yourself..

drunkmonkey

Someone just told me buy this as it's going to the moon..

Still in the shaky ico bracket?

Never wrestle with pigs

I know a few trying to push this and I wouldn't buy biscuits off them to be honest

grindle

Just watch the videos on Youtube, should tell you enough. Scam to the core.
5% return per day pyramid scheme with MLM adverts being shilled across Twitter and YT, another one of those.
Amazed there's an audience for this crap. Where's NigerianPrinceCoin when you need it?

valoren

It's the way it is linked to actual legitimate entities such as Apple Pay, Visa and Mastercard that amuses me, the whole ruse being to bull**** people with companies they know while they prey on your greed and scam you out of your cash.

drunkmonkey

Yea well gave my advice last week which was buy Ether @400 for your first crypto trade or just play it safe and by Microsoft but they bought the dascoin as it can be used as money and that's why it's going to be huge.

2 crazys gone into some early deal for over 30k, told them to sell within the first 11 minutes as it's probably the only bounce it'll see, but they can't whatever way their after investing they can't sell staight away.

Moon ship is leaving on the 27th of this month apparently.

AndrewJRenko

drunkmonkey wrote: »

2 crazys gone into some early deal for over 30k, told them to sell within the first 11 minutes as it's probably the only bounce it'll see, but they can't whatever way their after investing they can't sell staight away.

Please tell me they can afford to lose the €30k.

golfman

drunkmonkey wrote: »

Yea well gave my advice last week which was buy Ether @400 for your first crypto trade or just play it safe and by Microsoft but they bought the dascoin as it can be used as money and that's why it's going to be huge.

2 crazys gone into some early deal for over 30k, told them to sell within the first 11 minutes as it's probably the only bounce it'll see, but they can't whatever way their after investing they can't sell staight away.

Moon ship is leaving on the 27th of this month apparently.

I can't believe how many are being suckered into this. Everyone selling it is an absolute scam artist. Paul McCarthy - famous Banner Brokers scammer, Pinakee Naik in the UK - every scam under the sun - Banners Brokers, FuturnNet, My Advertising Pays, Traffic Monsoon - the list goes on. The young McCarthy selling it sounds like he has been groomed by the other 2 and is balls deep at this stage.

I don't know if anyone saw a video about their unique idea to get people to
"lock away" their coins in a "vault" for 2-5 years with promises of 1000% returns!! Lock 10,000 coins away for 2 years and come away with 110,000 coins! You couldn't make this upo if you tried yet they're all buying it in spades!

vintagecosmos

So listed on 3 minor exchanges and price has collapsed...

drunkmonkey

vintagecosmos wrote: »

So listed on 3 minor exchanges and price has collapsed...

Up 55%?

https://www.coingecko.com/en/price_charts/das/usd

vintagecosmos

drunkmonkey wrote: »

Up 55%?

https://www.coingecko.com/en/price_charts/das/usd

Das Coin trades as DASC. Thats a different coin.

https://btc-alpha.com/exchange/DASC_USD/

drunkmonkey

Yea found it, that's on ugly looking 24hr chart, buy the dip?

grindle

vintagecosmos

grindle wrote: »

Huge amount of sell orders. With a price like that i think you would be better off buying it now as opposed to paying over the odds for those "exclusive" licences... Regardless, will be interesting to see how it pans out.

vintagecosmos

Please dont take my last post as a recommendation to buy. I still believe it is a MLM scam.

scopper

Dascoin is a spin-off of the collapsed Ponzi-scheme/MLM-scheme OneCoin.

I am surprised this would even be debated on a finance and investment forum.

scopper

golfman wrote: »

I can't believe how many are being suckered into this. Everyone selling it is an absolute scam artist. Paul McCarthy...The young McCarthy selling it sounds like he has been groomed by the other 2 and is balls deep at this stage.

Yes, he was one of the early people into Dascoin scam events held in a few hotels a couple of years back, before OneCoin started to get heat from the German police, etc. I believe he is mixed up with some Polish folks who seem to have created the fake blockchain they have running.

Anyway, fools and their money and all that. (I mean surely in the world of Bitcoooonnnneeeccct people can spot a scam).

vintagecosmos

How are all the dascoiners getting on? Looking through the twitter and the price of it down to 5c it's unbelievable to see people still brainwashed. Concerned how Ireland is getting ripped into it and some of the key promoter's attacked online are based here.

vintagecosmos

The site is portraying Paul McCarthy as some sort of Irish crypto expert. http://paulmccarthy.io/ireland/

Basically trying to piggyback on the websummit, other Irish success stories.

There is a pic in some videos showing a TED profile. Which anyone can create, but giving the illusion that he is somehow affiliated with the organisation...

But what I found disturbing, is this http://paulmccarthy.io/1000-kids-know-someone-cares-belarus-update/

A group of volunteers fundraised, went to Belarus and gave 45K to people in need there. McCarthy as I understand made a donation. But the way the story is plugged its as if he gave them the full 45K. He also lifted a volunteers video and rebranded it as his own https://www.youtube.com/watch?v=bmpnCMv7g-c

Ronan H

Thread revival!

Doing a bit of reading on Dascoin ATM. Found some paperwork in my father in law's house recently, from earlier in the year, and was suspicious of it. Turns out he invested "a few grand" in this scheme because he was "introduced" to it by someone he knows in Mens' Shed. Typical pyramid terminology/approach, sucking in vulnerable people and fleecing them. We have let him know that his money is toast, that the scheme collapsed etc.

Keith Dalton I hope you weren't in too deep and have been able to recover if it went south on you.

p to the e

There's a crypto currency sub forum that might get you more info.

https://www.boards.ie/vbulletin/forumdisplay.php?f=1814

vintagecosmos

Sorry to hear that. No doubt there are many more victims.

Ronan H wrote: »

Thread revival!

Doing a bit of reading on Dascoin ATM. Found some paperwork in my father in law's house recently, from earlier in the year, and was suspicious of it. Turns out he invested "a few grand" in this scheme because he was "introduced" to it by someone he knows in Mens' Shed. Typical pyramid terminology/approach, sucking in vulnerable people and fleecing them. We have let him know that his money is toast, that the scheme collapsed etc.

Keith Dalton I hope you weren't in too deep and have been able to recover if it went south on you.