ICOs are becoming a popular way of funding startups. But the biggest problem is that most of these startups don’t have any real product or service in place, and yet they keep running ICOs in multiple phases while promising investors that the value of the token will rise. The latest one to join the gravy train is known as Thorncoin or THRN.
If you want to invest in Thorn Coin, we advice that you read this review first because this is not a light matter. You definitely have to seek a detailed analysis of the project before spending any money.
If you buy during the ICO, you will spend anywhere between $0.50-$1.20 per token. The website Thorncoin.com claims that price will rise to $150+ per token in the first quarter of 2019.
The question is, how exactly is a coin worth $1 supposed to increase in value to $150+ per coin in just 12 months? This is not Bitcoin, and people are definitely not interested in buying in quantities. We do not foresee how Thorn Coin will successfully create demand for this coin. And that means buying this coin could prove to be financially disastrous especially if you spend a lot in this investment.
For that reason, we are inviting you to read this ThornCoin review with the aim of getting a detailed assessment of the project. You can then make your own decision afterwards.
Note: To invest in altcoins, make use of these companies.
At this point in time, one cannot participate in the ThornCoin ICO because the pre-sale date is long overdue. It is also too late to jump into the any of the phases since the last ICO was held in January 24th, 2018.
However, the site is still asking investors to sign up, send some Bitcoin to obtain a specific number of Thorn Coin. How exactly are you supposed to participate if no ICO is live at the moment?
👉 ***Do you want to earn a side income with a stable crypto investment platform that generates sustainable monthly yields? Get this: You can now make a steady profit margins thanks to a new innovative way of investing in crypto. YieldNodes is the answer you need to start making a decent profit with cryptocurrency investment whether you are a beginner or professional in the crypto space. A multi-tiered node rental program is what Yield nodes is bringing to the table. Master-noding is the avant-garde of generating high ROI thanks to the ingenious of Stefan Hoermann and his team. With master-noding, you invest and let the platform do the rest for you. What is master-noding? It is not TRADING. It’s a new way of generating revenue by providing technology that relies on a proof of stake approach. Yieldnodes operates these crypto master-nodes and optimizes complex strategies to ensure members earn a profit. Yield Nodes will prioritize your security by providing accurate investment options. Members get protection from external losses or unforeseen changes in market conditions. This is not in any way a get rich quick scheme; once you deposit funds; you have to wait for the yields to mature. Yieldnodes is providing a proven, innovative, and secure way of making high returns on your investment with crypto master-noding. With just a minimum deposit of €500, you are good to go! With a minimum contract duration of six months, it gives users a chance to fully experience master-noding. By joining Yieldnodes, you stand a chance of making 5 to 15% every month. If you are still wondering whether this is a safe option, you can cancel the contract at any given time. For those who want to join and upgrade their investment strategy, Yield Nodes is the solution.
Click Here To Sign up with Yieldnodes Today
PS: YieldNodes is 100% Verified and Recommended by Valforex.com.
Well, according to our thinking, we strongly believe that this website wants to create demand for the coins that are already being held by people who previously participated in the ICOs.
The problem is that we don’t know how many coins are in possession yet. This is supposed to create huge demand as a result of the limited supply of ThornCoin.
The website is also encouraging its investors to stake their coins so that they can earn daily interest. Actually, this is a way of limiting supply, and thereby increasing demand further.
The point is, it is not clear how one is supposed to acquire Thorn Coin if they didn’t buy it during the ICO phases. One might argue that this coin can be bought at major exchanges which have been listed on this site.
But you also have to remember that Thorn Coin has not been listed with any exchange yet. The website also claims that they have not yet launched an internal exchange. In other words, it’s impossible to acquire these coins at this point in time, until it reaches a time when they will be holding another ICO. We don’t know when this will happen.
As you can see, this is supposed to create demand for this coin. Now, the million dollar question is this one: what factors are supposed to drive the value of this coin?
You see, demand cannot be created out of thin air. If you made a useless object scarce, will people need it? Absolutely not. But if you did the same with a useful object, demand would be naturally inflated.
Now, in the case of ThornCoin, there is no product or service to back their operations. How exactly is demand going to be created from a coin that doesn’t have any value yet?
The answer is supposed to rely on staking, lending, trading etc.
Let’s discuss each one of these factors below and see whether or not the value of this coin can rise based on these things
You can allegedly lend ThornCoin to their algorithm trading software called THRN AI. This will allegedly earn you interest rates every 24 hours. Apart from the proceeds that come from trading, the site claims that new referrals who don’t join under someone will automatically be placed under people who have accepted to lend their coins to the THRN AI software.
The minimum investment is $100. There is no maximum investment. Monthly returns can reach 43%, which is something that most professional financial experts don’t agree with.
This option is supposed to be idea for those who want to hold their coins in the ThornCoin digital wallet so that they can earn daily interest.
During the first quarter of 2018, monthly returns will be 12%. This figure will be reduced to 8% in the subsequent quarters.
Again, if you combine the two methods of earning, you will end up with a ridiculous figure for your monthly return on investments. This definitely sounds too good to be true.
And of course there is the referral program which is offered 3 levels deep. This is supposed to create passive income as returns can be 8%, 4% or 1%.
ThornCoin claims that their system is very secure, stable and is managed by financial experts.
To be precise, they claim that the operations of this site are managed by programmers and traders with vast experience in the area of trading, blockchain technology and in the Fintech space in general.
Unfortunately, none of these professionals have been introduced by name.
A quick search on who.is would reveal that ThornCoin domain is registered privately to make it difficult for people to know the person in charge of the website.
Where does this leave us then?
It could simply mean that ThornCoin is an illegal operation or a ponzi scheme.
The reason why we are saying so is because we can’t be certain of the experience that these guys are holding. Moreover, you cannot trust a stranger with your finances especially if they are insisting that payment must be done in Bitcoin only.
When we look at this website, we see a consistent pattern emerging where evidence suggests that Thorn Coin could be a ponzi scheme in the making.
12 months down the line, the coin will be valueless because we strongly believe that this coin does not have any product or service to back it up. There isn’t any unique concept to back it up. So, why would people want to buy it?
You see, the concept of early investors can be misleading. If you are an early investor of anything, there are high chances that you will lose money down the road.
And one of the surest ways to lose money is to bet on ICOs that clearly don’t have a concept behind the token in question.
Our best advice for you
If there is indeed a trading bot here, we’d be interested in seeing its performance. Otherwise, there is no way we can prove the efficacy of that trading bot.
Also, since ThornCoin is a very new website, you don’t expect that this business model will hold in the long run. You are not supposed to use blind faith because this is the quickest way to lose money.
Please understand that we have nothing against ThornCoin. But the mere fact that they are hiding their identity should worry anyone wanting to invest with them.
Please leave this field empty
LET’S KEEP IN TOUCH!
We’d love to keep you updated with our latest news and offers