"The Billion Coin" (often abbreviated as TBC) refers to a controversial cryptocurrency project launched in March 2016, primarily marketed in developing regions like Africa, the Philippines, and parts of Asia as a "community-based" digital currency designed to "end poverty" and create a billion millionaires. It was promoted through multi-level marketing (MLM) schemes, seminars, and online forums, promising explosive growth based on a proprietary formula rather than traditional market dynamics. However, it has been widely exposed as a scam or Ponzi scheme, with no real tradability, liquidity, or external value. As of August 31, 2025, the original project is considered defunct ("deadpooled") and inactive, with its wallet and core functions offline since around 2018–2020. Below, I'll break down what it was, why it's problematic, and related concepts.Key Features and Claims of The Billion Coin (TBC)Launch and Structure: Founded by Julz Ann Paekau in Auckland, New Zealand, TBC positioned itself as a decentralized cryptocurrency with a fixed supply of 1 billion coins. Users had to pay a $10 "wallet fee" to join the private community and create a TBC wallet. The coin's value was supposedly determined by a software formula: (Total verified members × €1), with daily price increases of 1–5% based on community growth. It aimed for an "ultimate price" of €1 billion per coin once 1 billion members were reached.Value Creation Myth: Unlike legitimate cryptocurrencies (e.g., Bitcoin or Ethereum), TBC's price wasn't driven by supply/demand, trading volume, or blockchain utility. Instead, it was artificially inflated internally via the formula, with claims of equating 1 TBC to 105 BTC at one point. Holders were encouraged to recruit others to boost "verified members," resembling an MLM pyramid.Mining and Wallets: It featured a custom wallet with global currency conversion and low confirmation times (1–3 blocks vs. Bitcoin's 6–10). Mining fees were customizable, but all activity was confined to the closed TBC ecosystem—no integration with major exchanges like Binance or Coinbase.Promotion: Heavily pushed via Steemit posts, seminars, and word-of-mouth in 2016–2018, with over 3 million "verified members" claimed at its peak. Early adopters bought in at ~€0.001 per coin, lured by promises of daily 5% gains (e.g., doubling value every 15 days at 5% growth).Why It's Considered a ScamMultiple independent reviews, user reports, and analyses from 2017–2025 label TBC as a fraudulent operation. Here's the substantiated evidence:No Real Market Value or Liquidity: TBC was never listed on reputable trackers like CoinMarketCap or CoinGecko, where legitimate coins are verified and traded. Users couldn't exchange it for fiat (e.g., USD, EUR), other cryptos (e.g., BTC), or goods/services outside the platform. One Nigerian investor reported buying 3 TBC for ~$24 in 2016 but being unable to sell even years later, despite the site's claims of millionaire status. The "value" was illusory—only visible on the official site, which became inaccessible.Ponzi/MLM Mechanics: Growth relied on recruitment, not utility or adoption. New members' fees funded "gains" for early joiners, a classic Ponzi structure. Forums like Bitcointalk and Quora warned of investigations in the US and elsewhere, with trust ratings for promoters as low as -2 (indicating high scam risk). It preyed on low-income users in third-world countries, generating ~500,000 monthly site visits at its height but delivering zero returns.Red Flags and Shutdown: The website (thebillioncoin.info) used outdated design, lacked transparency on developers, and made impossible claims (e.g., 4th-largest market cap behind BTC/ETH/LTC without evidence). By 2018, the wallet went inactive, and users reported account suspensions for not paying "migration fees" to unrelated projects like BTC009. Tracxn confirmed it's now a dead project with 486 competitors (e.g., Bitcoin, Dash) but no funding, exits, or activity. Scam alerts from sites like Nigeria Bitcoin Community and 99Bitcoins highlight extortion via "membership agreements" and admins controlling funds.Legal and Ethical Issues: It violated basic crypto principles—no blockchain transparency, no audits, and enforced private group rules that could revoke holdings. Reports of lost investments (e.g., life savings) and no refunds underscore the harm. As of 2025, no recovery options exist, and it's not recognized in global crypto ecosystems.
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