1232
12132
$291,231,054,656
$1,933,060,320,373
53%

No Ponzi Carlos Matos


Reported

Category
High-risk
Platform
Ethereum
Smart Contracts
0xd3573c393e3ac2149c52764eaba15d9cda8136dd

0x78D4858dd7cE665541e0a0f6e6e68b5Da6482273

No Ponzi Carlos Matos, or NPCM is an ERC-20 token. It’s named after Carlos Matos, Most people know him from his introduction in the bitconnect annual party in Thailand, whasso whasso whatsapp bitconneeeect. No Ponzi Carlos Matos The smart contract is essentially a game where earlier participants capitalize on other users who buy, sell, or transfer the tokens. “When someone buys or sells NOCM tewken, 20% of the buy at 25% of the sell price is split by the total number of coins and given as locked-in-rewards (priced in Ether)”. At its core, the contract reward system is based on that of a pyramid scheme. By definition, a pyramid scheme is a form of investment in which earlier paying participant recruit new participants, with return being given to early investors using money contributed by newer players. The difference between NPCM and other pyramid schemes, is the fact that the creators of the contract are transparent with the reward system. Since anybody can view the contract, those looking to invest in NPCM should be 100% aware of how the game works. Another way to think of NPCM is a sort of POS model where you receive rewards based on how much of the supply you hold. When a user sells their NPCM for ETH the coins get burned and the supply diminishes, when somebody buys NPCM the supply increases. When a user transfers coins to another address, 10% that transfer get split to all the holders. This reward system might seem confusing, so let me give you an example. If you were to buy into the contract with 1Eth and immediately sell it, you would get around 0.55Eth back. The reason for that is you lose 20% on the buy in, and 25% on the sell, ending up with around 55% of your initial ethereum. In other words, in order to break even the token price has to go up roughly 40% before you decide to sell it. The NPCM website clearly states that this is an entertainment venture rather than an actual investment opportunity. There are no guarantees that anyone will make money from this scheme. Participating in such a game is a risky endeavor, and should be treated as such.

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