@chryptof 16 July 2020

BitcoinPoS: Bitcoin Proof Of Scam.

About 2 weeks I found 2 articles about this new 'revolutionary' coin **BitcoinPos (BPS)** which really drew my attention. I just couldn't believe what I read there. Too good to be true! - https://www.newsanyway.com/2020/06/08/bitcoinpos-is-the-new-coin-to-revolutionize-the-crypto-world/ - https://medium.com/@bitcoin_pos/bitcoin-proof-of-stake-the-next-evolution-of-bitcoin-technology-c046c1c86d7d. But hey, intrigued as I was, I started searching more about this and found some information at Coingecko (https://www.coingecko.com/en/coins/bitcoinpos/usd). The coin was trading at that moment (**01 July 2020**) at about **$1.32**. When I returned back to Coingecko, last Sunday (**12 July 2020**), I was very surprised to see that BPS was suddenly trading at **$88.41**. What happened here? Did I miss a 'once-in-a-lifetime' opportunity? Or is there something else going on. I was confused so I visited the official website (https://www.bitcoinpos.net/). I read the site fully and visited the Github but I couldn't find any information about the team or its members. Strange, not? On the page, in the **Exchange** section I understood that must be a full-blown Scam. Why? Well it states: **Exchange rate: 1 BTC = 80 BPS**. So, let's assume I send **1 BTC**, which has a value (at the time of writing) of **$9099.88** in return I will get 80 BPS which have a value (at the time of writing) of **$84.38**. Now, do the math : 80 * $84.38 = **$6750,40**. So I just lost **$2349,48** ($9099.88 -$6750,40). Right? So from this you should understand that this 'Bitcoin PoS' is nothing more then a **Bitcoin Proof Of SCAM**!

Resources: https://www.bitcoinpos.net/ https://explorer.bitcoinpos.net/ https://www.coingecko.com/en/coins/bitcoinpos#markets https://medium.com/@bitcoin_pos