QUESTION:- IS COINSPACE A SCAM?
Telephone - 0408 211 120
NO IT IS NOT!
Let's take a hard look at the true facts.
Coinspace IS a registered European business, with a mission to 'COMMERCIALISE' Cryptocurrency into generic use.
Coinspace came into being in mid-2015 putting together a very loyal, but small group of people who were keen believers in the business idea and made a start releasing a newer concept and brand.
We all admit that the business got off to a shaky start. Like many businesses, the start-up team needed to put a lot in place and to say the least it was very amateurish beginning.
Moving to today, from that very humble beginning Coinspace is now over 200,000 members strong and new members are joining every day.
People are not stupid! Well let's say not all of them? Many, many people have done there due diligence and checked out Coinspace top to bottom before they purchased a Coinspace mining lease.
You will not find those that have money to begin with, do not make wild investments, TAKING RISKS YES! But they do not toss money at anything they have not investigated. Then also those that are a little short on cash also need to do the research, as they are not in a place where they have money to lose.
People, the rich and not so rich from countries all over the world have joined Coinspace and some of these people have purchase numbers of mining leases for very small amounts and others have spent hundreds of thousands of dollars.
Some of these so called SCAM reports tell us that Coinsapce member's CANNOT TAKE MONEY OUT!
THAT IS TOTALY INCORECT
Some people purchasing Coinspace mining leases are buying them to just to sell the coins BACK to Coinspace at a profit! Bank interest is around 3% - Selling coins generated back to Coinspace before the launch generates around 12% return.
Then some involved in Coinspace are building teams and as each new member joins and buys a mining pack, the introducing member earns a cash bonus. Those bonuses are place into an online wallet and can accumulate into hundreds of thousands of dollars and can be taken out at ANYTIME!
People have been using this money to:-
A. Buy more Coinspace leases and generate more 'S' Coins for themselves.
B. They take that CASH MONEY OUT and spend as they wish.
C. Examples, some member's in our team have taken out just small amounts of a few hundred dollars and others in excess of $300,000 Dollars!
The following information is take from some of those so called SCAM reports and an explanation is given.
Most of the Coinspace Member's would have read the literature as supplied by Coinspace online and in their back offices. Many have done more research sourcing out information on the company. However it seems in a number of cases that people are not completely familiar with the facts. We believe this comes about because not enough REAL in-depth research is completed into the way Coinspace works.
If the member's had completed the in-depth research they would have found that most of the so called SCAM REPORTS have many incorrect statements, showing that the persons writing the scam reports have also not completed enough research to gain the evidence to support their scam claims!
In many cases it seems that the people placing the new scam reports online are in fact coping the incorrect information from others and repeating that same information in there blogs.
It has also been noted in a number of cases the so called scam reporters are using Coinspace as a way of promoting PRODUCTS OF THEIR OWN. Promoting a SCAM is an excellent way to gain attention to a website and using a high profile business like Coinspace will help drive people to them.
While we do not wish to promote the idea of knocking other business to gain an internet ranking, establishing a so called SCAM REPORT on a high profile company like Coinspace will attract a lot of attention and is a defiant negative to the company they are reporting on.
Scam Report Statements
The scam report settlements have been setout SCAM REPORT and the rebuttals as ANSWERS.
SCAM REPORT: Coinspace Scam Claim: The pyramid layer of CoinSpace sees the scheme reward affiliates for recruiting new affiliates and getting them to invest.
ANSWER: Coinspace has put together a 'single layer OPTIONAL affiliate program' it is not known as a multi-level marketing business, however Coinspace does use a number of aspects of multi-level marketing to assist the member's. Also the joining and established members do not make investments. Coinspace is NOT an investment company. Members purchase 12 month cryptocurrency mining leases. It should be noted that while the opportunity is in place to ask others to join and a reward is paid for that introduction only a smaller portion of members take up the option.
SCAM REPORT: Coinspace Scam Claim: Under the now-familiar guise of operating a legitimate cryptocurrency, Coinspace offer up a Ponzi frontend powered by a pyramid scheme backend. The Ponzi nature of the business is evident in the passive ROIs paid out each week. Affiliate investment is the only source of funds entering the scheme, ergo this is the source of passive ROIs paid out each week. Thus Coinspace take newly invested funds and use it to pay existing investors, which is otherwise known as a Ponzi scheme.
ANSWER: You can see by this statement that the party has not completed any research into how Coinspace works! The above statement is totally incorrect
Coinspace Members are not requested to make an investments! Coinspace SELLS! A Product! Those wishing to join or current members are offered (OFFERED!) an opportunity to purchase a 12 month Coinspace Cryptocurrency mining lease. It needs to be noted that Coinspace generates its income from Cryptocurrency mining and trading the best preforming Crypro Currencies currently listed on the open market. This income is used to pay for company operating expenses, and for paying of any bonus to the members. The price paid for the current yearly Coinspace mining leases is spent on the continuing development of the Coinspace business.
SCAM REPORT: Coinspace Scam Claim: The offered 'S' Coins themselves are worthless, with the typical "what if" scenarios thrown about. The bottom line however is that nobody except Coinspace affiliates are going to be using the coins (and then only to request withdrawals from Coinspace), meaning 'S' Coins aren't really a cryptocurrency.
ANSWER: The above statement has number of true facts! When bitcoin started back in 2008 they were selling on the open market for between 1 cent and 10 cents each. Today those same coins are selling for in excess of $1000 each.
We do need a starting point! Coinspace has NOT launched on the global markets YET! So to say the coins at the present time have no value is somewhat true! BUT! Members are not paying $1000 dollars each for the coins either! Coinspace guarantee that they value the 'S' Coin at 0.79Euro now and at launch the 'S' Coin will release at a value of 1.00Euro and after that the market price will determine the value, exactly the same as Bitcoin. Coinspace is to launch later in 2017 and the prediction is the 'S' Coin will grow in value strongly over the next two years.
At the present time Coinspace members are the only ones that are able to make use of the coins TRUE! That's called building your bank of coins NOW in preparation of the launch.
Note Coinspace has been 'mining' Cryptocurrency in the blockchain since mid-2013. Coinspace has been very wise and has chosen not to release these the new 'S' Coins until all the boxes have been ticked. The members should be aware that the NEW merchant Programme is to be launched in March 2017. By introducing merchants to the initiative Coinspace opens a new door in the Cryptocurrency markets and YOU have an opportunity to become a Cryptocurrency merchant or start introducing new merchants to Coinspace and enjoy the rewards. The merchant program is extensive, and has lots of new software and hardware which obviously has taken much time to develop.
SCAM REPORT: Coinspace Scam Claim: As with all Ponzi schemes, once new investment into CoinSpace dries up, the scheme will find itself unable to meet its ROI obligations. A lack of recruitment will also see binary commissions and the matching bonus grind to a halt.
ANSWER A Ponzi scheme? Where and how could anyone make this statement? Again we discover that not enough research into Coinspace has been done by the writer.
Regarding- once new investment into CoinSpace dries up Firstly Coinspace is not an investment company. Coinspace SELLS a product and that product is the 'S' Coin and members are able to purchase that product in the form of a 12 moth mining lease. Coinspace has new members joining and buying mining leases every day from all around the world. Plus established members are purchasing and renewing mining leases daily. Not to mention that Coinspace is mining cryptocurrency every second of every hour of every day, generating income! So the money will not dry up.
Regarding- the scheme will find itself unable to meet its ROI obligations YES! Coinspace will meet all requirements.
Regarding- A lack of recruitment will also see binary commissions and the matching bonus grind to a halt. As said, the writer of the above report has no understanding or comprehension of how Coinspace works, who is behind Coinspace, why the company exists, and how many current members support Coinspace. Cryptocurrency is here to stay and as such people will continue to buy the currency now and well into the future. Coinspace only started introducing Coinspace to the world in 2015 and has grown to over 200,000 members word wide and that figure is growing higher every day
SCAM REPORT: Coinspace Scam Claim: A legitimate cryptocurrency is used and traded between members of the general public, without restriction. The value of the coin is thus determined by supply and demand, as opposed to an entity arbitrarily setting its value (Coinspace in this instance).
ANSWER Once again the writer gets it wrong! As members and joining members to Coinspace will understand - COINSPACE has NOT lunched the 'S' Coin. The plan is, should everything be ready, Coinspace will launch the 'S' Coin onto the open markets later this year. Once the 'S' Coin is released, it will be place alongside all the other cryptocurrencies like Bitcoin and traded, allowing the general public to buy and sell the coin, without restriction. It should be noted that once launched, Coinspace cannot set a value the coin will be subject to market forces. The only thing Coinspace tell us is they will launch the 'S' Coin at a value of 1 euro. Coinspace already back the coin with precious metals - which no other crypto-currency does and that will happen up until launch and then it will be market value.
SCAM REPORT: Coinspace Scam Claim: Malta isn't really known for its regulation of such schemes, with Coinspace's purported registration there a calculated exit strategy on behalf of whoever is running it.
ANSWER This is an opinion of the writer only! Coinspace is a registered European Company, and subject to comply with European laws. Conspace has a high-profile legal team with lawyers based in Munich - Andreas Wolf is one of those lawyers and it is he that is 'steering' the company legally. This teams obligation also deal with those whose opinions constitute defamation, slander and/or libel.
SCAM REPORT: Coinspace Scam Claim: The company will continue to keep pushing back the launch date to get more people involved.
ANSWER: Coinspace has NEVER had a firm launch date specified, It was members speculation that Coinspace was to launch back in October 2016 and that speculation was started when the team at Coinspace said they would like to launch around that time if everything is place and ready to go!
The so call launch date was never pushed back or changed! Because a true launch date has NEVER been decided. However Coinspace has held up launching the 'S' Coin for a number of reasons.
A. All members' registration targets had not been reached.
B. Coinspace stated right from the very beginning that the coin will not be launched until the they had decide the coin had reached a value of 1 Euro.. When the company first started the place a value on the coins of 0.50 euro that value has grown steadily from 0.50 euro up in stages to where Coinspace value them today at 0.79 Euros - We are well on our way to reach that target of 1 euro.
B. The company infrastructure was not fully in place and not ready to launch.
C. The merchant facility was not ready.
D. Now the European Union has stepped in and advised Coinspace that the need to remove the 24,000 - 12,000 and 6,000 Euor packs because they are considered to be investment amounts and Coinspace is NOT an investment company. So changes need to be made which includes, changing the current distributors over to members. This relate to the (KYC) KEEP YOU CUSTOMERS SAFE forms and the COINSPACE INDEPENDENT MEMBER AGREEMENT that need to be completed by members.
E. Coinspace has reached a 200,000 strong membership base thus things do change as your membership grows. With the current changes that is now 400, 000 plus forms that have to be checked and new agreements have to be entered into, that does not happen over night!
Coinspace will launch the 'S' Coin when everything is in place and ready to go and NOT before.
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