There are many reports that RACoin may be a SCAM. Can anyone confirm or deny? There Telegram channel is like tumbleweed. Their Investors portal no longer works. There Twitter account has not replied to anyone asking a question re distribution.
I am copying info off LinkedIn thanks to Dr. Sean Larkin, D.C. - Ⓥ
Prior to the ICO date, I communicated with one of Palau’s senators and he confirmed that RAcoin is a scam. Gambling in any form is illegal on Palau and there are no plans for a casino there, and they have had no dealings with the company supposedly called RA Entertainment. Attached are news clippings sent to me by Senator Mason Whipps.
https://www.linkedin.com/in/mason-whipps-bb0a985/In addition to the newspaper clipping images, here is a link to the article in the local newspaper's website.
http://islandtimes.us/govt-probes-online-gambling-scam/I asked for help to spread the word and show how fast we can all work together to stop a confirmed ICO scam. The ICO listing websites were the most proactive and responded the best, far better when compared to the news services, with only a couple of notable exceptions.
Below are some of the ICO listing sites which listed RAcoin. What I had suggested was for them to not remove RAcoin, but instead to mark them as a confirmed ICO scam. This being the most helpful in reducing damage and demonstrating the integrity which we need to be able to trust any ICO listing service. Every service listed was contacted and the action taken noted.
https://www.trackico.io/ico/racoin/ (scam warning posted upon notification)
https://www.listico.io/ico-calendar/racoin-ico (scam warning posted upon notification)
https://topicolist.com/ico/racoin (page has been removed)
https://www.coinschedule.com/ico/racoin (given lowest rating, then subsequently delisted)
https://icobench.com/ico/racoin (responded, no observable action taken)
https://icomarks.com/ico/racoin/https://icotracker.net/project/racoinhttps://www.icoalert.com/?q=RAcoin&is_v=1Below are just some of the press releases. The ideal action which was suggested to these news sites was for them to write an article about the situation and to forward the current press release link to their own article about the RAcoin scam. Every news service listed was contacted and the action, if any, has been noted.
https://coinworldstory.com/racoin/ (scam warning posted upon notification)
http://www.the-[Suspicious link removed]/2018/04/10/ukraines-ra-entertainment-nets-10m-in-presale-to-build-vegas-in-the-pacific/ (page has been removed)
https://cointelegraph.com/press-releases/racoin-raised-10-million-in-2-days-to-upgrade-global-gambling-industryhttps://news.bitcoin.com/pr-introducing-blockchain-to-the-non-digital-world-with-gambling-token-racoin/https://bitcoinist.com/racoin-new-global-gambling-cryptocurrency/https://bitcoinexchangeguide.com/racoin-ico-rac-token/https://www.prnewswire.com/news-releases/ra-entertainment-inc-introduces-racoin---cryptocurrency-for-the-real-world-gambling-industry-678746743.htmlWhen a scam is reported our blockchain and cryptocurrency news services need to have a better system for being informed easier, investigating and taking action rapidly.
We need to work together so we can effectively help stop any ICO which is confirmed to be a scam. In terms of damage done it doesn't matter whether you're the victim of the scam or not, scams have a ripple effect which harm all the businesses and people involve in blockchain and cryptocurrency.
It would be far better for us to figure out good ways to 'unofficially' self regulate rather than allowing problems, which will ultimately bring more outside regulation attempts, with the justification being that it's for our protection. Centralization and control, intentional or not acts to stifle the growth of blockchain and cryptocurrencies. We don't want this because, as often is the case, far more harm is done to more people in the name of protecting them.
Edit 5/30/18: Here is the original version of the RAcoin website with their false claim:
https://web.archive.org/web/20180502191644/https://racoin.io/Here is the current website and social media for Racoin:
https://racoin.iohttps://www.linkedin.com/company/racoin/https://www.facebook.com/racasinopw/https://twitter.com/RAcoinNewshttps://www.youtube.com/channel/UCtyGrvHTO7LCa4IAJyjMUdwhttps://t.me/racoinnewsSpreading the word about this was important for the reputation of Palau, and to help prevent people from being cheated, and to also help and maintain the trust in future ICO launches done in good faith.
For all of us who care about the future of blockchain and cryptocurrency... When an ICO is without a doubt confirmed to be a scam, then we should all help spread the word to others and assist in contacting entities who are unaware that they are helping promote an ICO scam. In this way we help prevent harm to the innocent and help protect our own community's current and longterm interests.
Thank you to all those who responded, reacted quickly and helped.
https://www.linkedin.com/in/drseanlarkin/