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Bitcoin MYK and BBD Dollars - Scams or Well Meaning but Confused?

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@revisesociology
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I first came across BBD coin on Hive-Engine because it was showing a > 1000 % price increase, so it appeared high up on my tokens list.

I've since dug into this and maybe it's just me but I honestly can't see any validity in the coin at all, not least because the coin's creator @mykos is manipulating the price of his own coin by buying and selling it to himself and then using that recently manipulated price in his promotional videos about his project.

You can see through using Hive-Engine Explorer that he is the main buyer and seller of it (to himself).

The BitcoinMYK Website

I followed the link to his external website from his profile, which seems to be a blog interface through which people can post, and earn BBD and BTMYK - TBH I can't tell which, and the price feed for BitcoinMYK takes you to BBD coin on Hive-Engine when you click it, which doesn't instil confidence in either of these Hive-Engine tokens.

It's all very unclear what the focus of these two coins are and a bit of a confused mess TBH.

There is some attempt to link with Hive - the 'wallet' button directs you to downloading Hive KeyChain, but NOWHERE is there explicit mention of Hive on the blog, as far as I can see.

In fact the whitepaper obfuscates the nature of the two coins - it states that BitcoinMYK is a 'fork' of Bitcoin, but as far as I can see BitcoinMYK was just created by @mykos on Hive-Engine, so that's technically incorrect.

And there is some other information in the WP about how BitcoinMYK will collect value and something about Universal Basic Income too, I read one fanciful post a while back suggesting silly price predictions from BitcoinMYK, which would take a miracle to realise given the very limited interest shown in it so far.

There are stated plans for the coin based on future advertising revenue, but I honestly can't make much sense out of what he's saying.

His figures about the future value of his coin are just pie in the sky, but what's worse is that he seems to be basically scamming the price and misleading people on his website about the current value of it - by manipulating through low volume trades, as far as I can see.

NB in case you're thinking 'maybe this project is beyond my limited intelligence', no, I know I'm very intelligent, but I also know there are plenty smarter people than me that operate at a higher level which I struggle to follow - I met PLENTY of them at SF3 and 4.

@mykos isn't one of them, most definitely not, I just can't tell whether this is a genuine effort to construct something valid that is just confused or an outright scam, it's one of the two.

Maybe he's scamming himself without realising it?

Either way, if I were you I'd steer well clear of these coins!

Posted Using LeoFinance Beta