Last night I posted this in the CENSORED ANN thread of PROcoin:
I have to say the offer, by Darren Palmer, is "interesting".
This coin is not going nowhere near 2500 sat by Monday, that's quite obvious, so it is indeed quite "interesting" to watch this loser's gamble developing since the term is so brief.
Mind you, the 2500 sat is the price "some" -I bet not a lot- paid in the IPO/ICO, but in way over a month -pretty much time enough to determine the real potential of a new coin nowadays- PRO had not managed to go over 100 sat... until this gitzmo was presented with amazingly spectacular initial results.
At least 500 BTC have been traded at present count and the price exceeded 800 sat at one point, which means that a lot of people has bought small participation in this "lottery" that may or may not happen to be true.
I would imagine this post will be censored pretty quickly so, if it is, you would have to go to THE WALL OF SHAME to read it... meanwhile, a few considerations beyond the above stated:
-- Darren Palmer, the name behind this coin, is a total unknown in spite of his self-appointed title as CEO of Instantbitcoins.com. There's no recognizable linked-in profile of him, academic or otherwise employment history anywhere and, unless he is into interior decorating, he simply doesn't exist. Not an endorsement, precisely, for someone that, obviously, pursues and loves the limelight. Where have you been all these years, Darren Palmer? Who were you before you started selling bitcoins in the UK?
-- There's absolutely no point whatsoever in making an offer of 2500 sat "guaranteed buy back" with the coin trading under 200 sat. Any way you choose to examine the gitzmo, you will reach the same conclusion: It can only pursue the dumping of a significant amount of coins against the potential credulous people that will invest small amounts for the outside chance that the offer will end up being legitimate. A lot of those in crypto. And if Iconic Expert joins the fray, quite a few of his twitter followers will probably invest at least small amounts in it, regardless of the (lack of) credibility.
In conclusion, in you are piked by the offer, invest something you won't be seriously affected if it is quickly lost. Otherwise, proceed very, very cautiously.
And read: https://bitcointalksearch.org/topic/wwwinstant-bitcoinscom-and-payprocoin-breaking-uk-laws-649955. Extract your own conclusions. Mine, at the (minimal) risk of being wrong, is that you are going to be seriously disappointed by Monday.
We will definitely see very soon.
And seen we have indeed, soon enough -only a few hours later- that the post has indeed been censored, that it PROCOIN is, indeed, a scam, that the "guarantee" was the gimmick it was obvious it was and that, once again, a crook has run away with the money of the blind/greedy, idiots and naive people of crypto. SHAMEFUL, indeed. SHAMEFUL, also, that IconicExpert has participated in the scam, whether fully knowingly or not it doesn't matter: His credibility -the part that had not been (unfairly so) tarnished yet, has been fully destroyed now. His "followers" will do very good avoiding his picks (there's a new one announced for Tuesday, and I am already warning you: BE FULLY AWARE: When you buy in, he will already be selling out, fully knowing he's picking yet another scam coin. IE, apparently, has gone way farther into the precipice now. He doesn't care who gets hurt, he will continue peddling coins while there's something to get... at the expense of the naive/idiotic/blind-greedy. If you want to preserve your investment, STAY AWAY from his picks. All, every single one of them. There's no excuse whatsoever to fall for it one single more time: His is NOT after making money; he is after your money.
As for that crook, Darren Palmer, he's done, of course. I doubt anyone will ever buy a single BTC from him. But he will continue being around under different names... including Darren Palmer which more than probably, is nothing but yet another alias or handle. Good riddance and fuck you, by the way.
A word -again- of warning: There's a very solid reason why some good coins are not listed in my WALL OF HONOR, even though they comply with almost all the requirements: There are several (Vericoin, Solarcoin, others...) that simply CENSOR either their ANN threads here, or their IRC -this is widespread, unfortunately- or their Reddit. Once again: There's only one reason, in spite of all the FUD bullshit they post as an excuse, only one to have a so called "self-moderated" venue, whichever it is: To silence discrepancy. NONE OTHER.
"Palmer" has even closed the ANN thread, so people will not flock it with the well deserved insults, threats and other showings of anger and desperation. In this case, there's no feeling towards those who chose to fall for the obvious scam, not one bit. They were advised -by me- against it thoroughly. They shouldn't complain. But that doesn't make the whole thing, and their perpetrators, "Palmer" and "IE" -nor the censorship- less SHAMEFUL.