DIMCOIN, a project that sounds a bit too good to be true. The team promises a complete decentralised ecosystem for cryptonisation (virtualisation) of equity, trading in cryptonised shares and assets, cryptocurrency exchanges, crypto-fiat currency exchanges, e-commerce, debit card purchases, business transactions, and commodity trading. All of these functions and services are promised to be accessible through computers and hand-held devices. Yes ladies and gentlemen, that is the promise of the team behind this project. With the DIM token sold at 1$, each token equals 100 DIMCOINs, which would be a sepculative currency such as the likes of many others altcoin. How the DIM token fits into their ecosystem is not explained, but they introduce DIM Currencies, which are akin to Tether, will have the same value as the fiat currencies they represent. For example one DIM euro will be equal to 1 euro, these currencies will be used as means of payment in the DIM ecosystem.
Now I am not a blockchain technical wizard so I do not have a say in whether such project is feasible or not, but it is too good to be true. The team speaks about integrating with HYBSE (Hybrid Stock Exchange) which sounds like a fancy stock exchange platform. But the truth is, this platform is less than 2 years old, and the owner's identity is hidden, along with the country. The second red flag was the developers, which for me are the most important members for a project this big. Almost all team member have their linkedin profiles accessible from the website and their full name displayed, except the developers. There is nothing on display except their first names, which happen to be generic indian names, and far from professional headshots. However, the third and most worrying red flag, is the absence of any hard cap for this project, this is not good practice for a legitimate ICO. This project is live and has raised 7 million dollars in bitcoin as of today. The legitimacy of this project is questionable, and hence my advice to the steemit community is, do not invest in this ICO, however keep an eye on it, because if it is legit, then it is worthy of your money. The link is down below, check out their website and let me know what you think down below.
Also some more info came out that helps improve credibility of DIMCOIN. They are registered with the (FSB) Financial Services Board of South Africa. Certificate no 46726.
Can verify any license number online:
https://www.fsb.co.za/Departments/fais/searches/Pages/default.aspx.
I am from South Africa and worked in Finance Industry for 7 years so I am familiar with this type of license. Legit.
Their site isn't down. The site is just inaccessible by American traced IP addresses
That is some good news, this is a very promising project
Thanks for your blog and it is not good that the website is down and there are a few concerns this this token.
Hope it is not a scam and they deliver - $7 Million is a lot of money and will have to see what happens. - There are always going to be scam's especially if there is money involved and will have to wait and see.
Hey there, I'm working with a group to launch a website at the end of the month featuring community-based ICO reviews. If you're interested in more exposure for your ICO analysis please reach out to me on steemit.chat
Yessir I am definitely interested.