Hollywood action-star Steven Seagal has signed on to be an ambassador for Bitcoiin 2nd Generation (BTG), a P2P payment system. In an announcement made by BTG, the team describe Seagal as a Buddhist Zen teacher that lives by the principles of development of the physical self. Seagal believes his actions in life are about leading people into contemplation in order to waken and enlighten them, and these are described as the objectives of the Bitcoiin2Gen project.
Bitcoiin2Gen’s goal is to empower communities by providing a decentralized P2P payment system which will include its own wallet, mining ecosystem, and blockchain. The project is marketing itself as the second generation Bitcoin, thus suspiciously calling itself Bitcoiin. Unlike the original Bitcoin, Bitcoiin2Gen will be based off the Ethereum blockchain.
In their whitepaper, the project states the advantages of Bitcoiin2Gen over Bitcoin list the Bitcoiin2Gen as having faster transactions, better scaling, safer blockchain technology, a variety of unique features, and greater mining earnings, specifically for individual users opposed to large mining pools.
The Bitcoiin2gen website currently claims they’ve raised over $12.6 million in investment funds during their Pre-ICO stage. Their public ICO is currently on going until token launch (April) or when the hard cap is met. The minimum funding goal is $75 million soft cap, and their ideal financing goal is $250 million hard cap. 1 BTG will be $5 USD. Investors can purchase B2G with BTC, ETH, EUR, and USD. Total amount of tokens available during the ICO is 50 millions and the total supply of coins will be 200 million.
Much like the once popular ponzi projects Bitconnect and Davorcoin, the Bitcoiin2Gen team will offer additional features for holders of B2G and affiliates.
Investors who hold BTG in their official wallet will earn 1% interest a month.
Also during the ICO period, a 4 level commission structure is offered to promoters. A lovely diagram has also been included.
Level 1 : 15%
Level 2 : 10%
Level 3 : 5%
Level 4 : 2.5%
The Bitcoiin2Gen team have a very ambitious project and are extremely bullish on the success of their ‘2nd generation Bitcoin’. The team have even included in their roadmap a price projection of $388 for 1 BTG by December 2018!
With Bitcoiin’s original concept of creating the 2nd generation Bitcoin as an ERC-20 token, promises of ROI, lucrative pyramid commission structure, insane price forecasts, and NOW Steven Seagal on the team, who can pass on this offer. It’s almost like missing the Bitcoin train all over again! This is sarcasm. This is most likely a scam. There are red flags all over it. It is becoming a common practice for scam companies to hire C-list celebrities and social media influencers to promote their projects. All though Seagal may still have some clout and fans that may rush to join their favorite action hero in his journey into the cryptocurrency world, one look at the Bitcoiin2Gen website and whitepaper should have investors running the other way.