Is Regal Coin a good a good investment or the next Ponzi Scheme Scam? From highly successful scammers this coin promises to be the next big Ponzi scheme!
While I was doing extensive research about the Bitconnect Ponzi Scheme which you can read about here.
https://steemit.com/money/@cryptick/bitconnect-the-billion-dollar-pump-and-dump-part-6
I ran across a number of videos on Regal Coin.
Regal Coin is the next Ponzi Scheme.
I am not going to try as hard as usually to pull out all the facts this time. I have found people want to believe what they want to believe. That said, I think *if you do your own research you will find the following things to be true.
Ponzi Schemes have a limited life, they need to pull new people at their payout rate to continue to grown. If the Ponzi scheme pays 1% a day, it needs 1% new people every day and that is not easy. This gives a Ponzi schemes typical lives of about 6 months to 2 years.
People who play with these Ponzi schemes do so for entertainment or profit. Some know they are going to fail, but get in and out rather quickly. When the next one comes along, they jump into it, hoping to be among the first to get out –before it collapses.
Word is –from you tube videos- is that one of the founders of BitConnect has started Regal Coin. Since they already have millions of dollars of profits, starting the next one is easy to do. They also want to start the next one, while they still have a contacts and all the people from the old scheme. This way the new scheme gets a life of its own quickly. These people realize they are a scheme, but it is a method of gambling, investing, and defrauding that is both exciting and profitable. It would be appropriate to point out the number of people who go to Las Vegas Casinos, believing they are going to get rich. Those casinos were not built on the gambler's winnings, Vegas was built with the losses of gamblers.
That said, Regal Coin started with quite a splash.
The ICO coin sold out rather quickly.
I believe the scammers basically bought up most of the coin themselves, allowing only a token amount out to the general public. One person who bought some, said it sold out in five minutes, and the website was very fragile, because it had tons of traffic. People send off their money, mostly on faith they will get something.
Those that managed to buy at the ICO, immediately got about 10X profit because as Regal coin came out on the market it was listed at about $10 coin. Now it has a market cap of 51 million.
This also means it is already a top 100 alt coin or cryptocurrency.
This coin is going to be very thinly traded and is probably going to shoot higher –like Bitconnect.
Bitconnect went from a few cents up to $130.
I suspect that almost all of the volume and the price is being manipulated. To read about how to do that check out this post.
https://steemit.com/ico/@cryptick/how-to-fake-a-top-100-alt-coin-chart
As I look at Regal Coin I notice some similarities. The website traffic is coming from very similar places.
United States
India
Vietnam
Russia
Nigeria
Where as Bitconnect.co
United States
India
Japan
Nigera
Vietnam
Both sites artificially pump large amounts of fake traffic to the site using a service that pays people Bitcoin to visit sites.
Traffic from Alexa
https://www.alexa.com/siteinfo/regalcoin.co
http://regalcoin.co.hypestat.com/
The dubious website is driving traffic too it the same way as BitConnect Coin. You can even see a good number of people come directly from Bitconnect!
There is already an impressive “social media presence”
They have 1,053 “people” on one site
And
4,242 on another site.
You will also note that Facebook notes the strong link of BitConnect and Regal coin. If you like BitConnect, you will likely like Regal coin. If you think BitConnect is a scam, this is strong evidence that Regal coin is a scam.
I wouldn’t trust that many of the people are real. When I looked at one the BitConnect founders about 80% of the profiles seemed obviously fake.
https://steemit.com/bitconnect/@cryptick/bitconnect-scam-inside-the-facebook-profile-of-a-scammer-part-5
Regal Coin has a very similar payout structure to BitConnect.
Some years ago I was at a Multi-Level-Market conference (for a soap products company) and they explained that the average person was able to recruit 2.5 friends into the MLM company. Previously, one company had limited the number of people “underneath you” to two, and had grown super fast. The US government then ruled that was illegal to have a structure whereby each pyramid had only 2 spots underneath them. Some have 5, 7 unlimited. They encourage one to only use two. What is resulted in is that the more people each person had under them, the higher they got in the organization and the more money/commissions they get from the lower levels. Regal coin is limited to two legs, which should speed it’s growth. (This is also what they promoter said, The US government says we need to have five spots, we do, but only use two and we will grow faster…). (Note: I realize not all MLM is a pyramid scheme. Many organizations pay commissions for advertising and recruitment. The problem here is that regal coin does not actually do anything useful to society except separate suckers from their money. Other companies, like Am-way ect actually delivered products ect.)
In my opinion Regal Coin is a copy of BitConnect. People may make money initially, but ultimately the coin will fail. At that point it will be apparent that
Regal Coin is a scam.
Regal Coin is a fraud.
Regal coin is a bad investment.
Regal coin is a Ponzi Scheme.
Do not invest in Regal Coin!
I hate to see people lose money in AltCoins.
It hurts the public relations of the whole community. It hurts alt coins. It hurts investments.
There are so many exciting alt coins out there that have potential to deliver real value such as STEEM (STEEM), Etherium (ETH), Ripple (XRP), Litecoin (LTC), NEO (NEO), IOTA, Siacoin (SC), Golem (GNT), Stratis (STRAT), EOS, VERGE (XVG), and Monero (MNR).
It would be better to make a long term gamble and invest in these to grow. You have to ask yourself, what service does the company provide that adds long term value to society as a whole? That is the way a society benefits and grown.
When you invest in Ford (F), the company uses your money to build cars. Having cars makes us richer as a country. When you invest your money in Home Depot (HD) the company uses your money to deliver building supplies across the country. When you invest in a company like Regal, no good is being created. It is a con. It has negative value. Every dollar you might get in profit, comes from some poor sucker who got in late and lost money. It is a zero sum game. We are not helping society as a whole.
Ultimately, Regal coin won't be a scam till it runs off with everyones money.
Those who look and do their own research will realize this is not a good investment. I wanted to get on the record that this is a scam, I am sure more proof will come. It just takes the time to do the research with a critical eye. I showed how that was done extensively in my previous posts, and everything I see here points me in the direction that Regal Coin is a scam just like BitConnect!
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I hear you man, so true, it is a shame that these coins are allowed, they will tarnish the reputation of the crypto world, and some fools will even blame Bitcoin for this.
Very true, cryptos are already a risky proposition to begin with, without the extra risk from all the scams surrounding it. This kinda thing is what will prompt the govs to take more action on cryptos.
Well, I believe anyone that trades in Crypto is no more a child. Money can grow wings and fly away if you don't treat it well. Now how do you treat it well, you need to know how it works and how it function and this demands studying /researching.
I personally have made my research and I adopted the warren buffet's motto "Don't Lose Money"...
so I go into Bitconnect and I have made my principle and right now i'm riding the wave and making daily money. My advise, you start with $100 or $200 and nothing more unless you are really greedy then your risk increases you can $1,010 but if you dont trust the scheme to last more than 6month please stick to $100.
you can click on this link to visit the site: https://bitconnect.co/?ref=elsorncg
"Do Not Lose Money"
need to register
Nice writeup.
Regal Coin and Bitconnect looks very suspicious alright. There's an endless number of videos and blogs about Regal and Bitconnect being scams or ponzis but it doesn't seem to put too many people off them.
It's interesting that all these projects are springing up and they are sucking up a lot of funding that would otherwise most likely have gone into more legit projects such as all the great alternatives that you have mentioned.
If that volume of funds had gone into the legit coins, they would probably have had quite a boost.
Thanks. I agree. Many of the people who invested in BitCoin early learned to march by the beat of a different drum so it isn't surprising that they like to do there own thing. Still are lots of great projects though!
This one is worse Imo