Personal Finance

PlexCoin: Scam or BitCoin killer?

  • Last Updated:
  • Dec 18th, 2017 2:49 pm
Newbie
Sep 22, 2008
8 posts
2 upvotes
Previously it was said that he wasnt the creator just someone marketing it. But who knows what is true, its only the QC govnt that thinks he is behind it.
mouflon240 wrote: Yes sure, you can keep an eye on the creator of plexcoin going to jail. Again, I'm asking you to close this topic, as it is an obvious scam.

Image

French source:
http://ici.radio-canada.ca/nouvelle/106 ... le-outrage
Newbie
Jul 24, 2017
13 posts
1 upvote
t.dot wrote: Previously it was said that he wasnt the creator just someone marketing it. But who knows what is true, its only the QC govnt that thinks he is behind it.
Surely, the court will decide.

owning the domain name plexcoin.com is part of being the "Creator" of plexcoin. During the raid at his house they found the invoice for the domain.

Thanks.
Deal Addict
Sep 30, 2008
1589 posts
202 upvotes
You can now transfer PlexCoin into your own private wallet.

A step in the right direction I think, now waiting to hear if it get listed on any exchanges.
Deal Addict
Jan 10, 2017
1536 posts
981 upvotes
GTA
https://www.cryptocoinsnews.com/plexcoi ... ior-court/

A no fee's cryptocurrency, means no one pays for the operators/miners.
There is also no involvement of Visa as they charge fees towards the creditor and merchants.

This is not a cryptocurrency if they can instantly print money as soon as you pay for it. It's called a digital currency and is the same concept as Paypal.
It is not a commodity if no value backing it, you are putting money into a company which has no means of trading it back. This would like stocks, except the company will have no intentions to buy them back.

Cryptocurrency does not run as a referral system, what you put in is what you get, you can't get more out of it for someone else taking a piece of the pie and the person handling the money needs to be paid too.
Since the system is not visible to exchanges, its not possible for it to be listed to any exchanges.

17 million USD "invested" in a shell company with only one person attributed and the rest hidden. An entity can not hide if you are trying to be a Visa partner.

Cryptocurrency is calculated and then created, not bought.
Deal Guru
Aug 14, 2007
12807 posts
3837 upvotes
--
Really happy I never bought in.

Almost did but something didn’t seem right with me.

What all these social media sites should do is block the endless barrage of fake/garbage ICO ads that I keep getting.
Member
Oct 29, 2015
445 posts
235 upvotes
Can someone explain the situation to me?

As I understand, guy creates a generic cryptocurrency, bought online ad to advertise a huge increase in profit and sold when the coin got listed in exchanges?
:D
Newbie
Jul 13, 2017
36 posts
3 upvotes
Well.. Shit. IT seems that all the signs were right. This was a scam from all along, a really elaborate one. It is still listed and trading is active but they have stopped communicating, they are buying cars and houses for the profit..

What the ****.
Deal Addict
Jan 10, 2017
1536 posts
981 upvotes
GTA
MisterBiter wrote: Well.. Shit. IT seems that all the signs were right. This was a scam from all along, a really elaborate one. It is still listed and trading is active but they have stopped communicating, they are buying cars and houses for the profit..

What the ****.
All the signs were wrong. Just the hype was high.
Deal Addict
Sep 30, 2008
1589 posts
202 upvotes
Not sure I fully understand this stuff, but once a coin is created and out there on the open market.
Does the creator still have any control? Other than if it was to further develop uses for it, which couldn't anyone do also? Like how others can have wallets or exchanges other than the creator. or are coins like PLX not decentralized and are actually controlled by the creator?

Also for coins like PLX that are based on ETH, does PLX have their own miners and network? or does being based off ETH mean everything is done on the ETH blockchain.

Just trying to understand this stuff a bit more, i'm no expert nor claim to be.
Deal Addict
Sep 24, 2010
1921 posts
214 upvotes
tdott wrote: Not sure I fully understand this stuff, but once a coin is created and out there on the open market.
Does the creator still have any control? Other than if it was to further develop uses for it, which couldn't anyone do also? Like how others can have wallets or exchanges other than the creator. or are coins like PLX not decentralized and are actually controlled by the creator?

Also for coins like PLX that are based on ETH, does PLX have their own miners and network? or does being based off ETH mean everything is done on the ETH blockchain.

Just trying to understand this stuff a bit more, i'm no expert nor claim to be.
Yes you can launch your token based on Ethereum blockchain. You don't need miners and will utilize the existing ethereum network. Not every token has to be launched on ETH but so far it has the biggest ecosystem
Deal Addict
Jan 30, 2012
1836 posts
1399 upvotes
TORONTO
tdott wrote: Just trying to understand this stuff a bit more, i'm no expert nor claim to be.
And yet you posted this plexcoin scam to RFD in the first place and spent some time defending it...
Newbie
Sep 22, 2008
8 posts
2 upvotes
M8Rxmjsik wrote: And yet you posted this plexcoin scam to RFD in the first place and spent some time defending it...
and your point is?

PLX is listed on https://coinmarketcap.com/currencies/plexcoin, They appear to be listed on 3 different exchanges.
If it is a scam how come it isn't shut down as yet and taken off exchanges and shut down? (I don't know that answer, I'm asking)
Newbie
Sep 22, 2008
8 posts
2 upvotes
CREE8TOR wrote: Any good news about us gettin our $$$ back????
From what I understand (Take it with a grain of salt, I don't own any coin, I choose to watch what happens from the sidelines) it is listed on 3 exchanges, investors were given their coins, you are free to sell those coins at current prices ($0.026 USD) as of this writing. If you sold now you'd loose money. But I don't see a scam here as yet. I've been following a few ICOs and several of them of worth less than the ICO price or dipped after launch then went up.

With the bad press I don't see the price of the coin going up any time soon.

Potentially what could change that is if they deliver on what they said they would do. Next was to deliver a Wallet Application in Q4 2017. Let's see if that happens, time is running out.
Then after that a PlexCard is suppose to launch in Q1 2018, then PlexBank in Q3 2018.

Assuming they don't get shutdown before any of that happens, if they deliver on those promises, potentially the coin might be worth more than it is today.

Apparently I'm defending them, but I'm really not, just talking to myself out loud and trying to figure how/learn more about this crazy world of crypto that just exploded over the last few weeks.

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