Now here’s an article I’ve been meaning to do for a while. Since worldcoin (WDC) was just added to BTC38, what better time to do it than now? Like all great coins, WorldCoin had nicely sized premine and instamine associated with it. Let’s take a look:
You can see the very small premine during hours 1-4 which was intended to mask the much larger premine that occured during hours 45-47, during which time approximately 200k WDC were minted, with a network hashrate of only 3.5MHash. Hours 47-53 represents the instamine, with an additional 200k WDC were created. All told, 400k WDC were premined/instamined.
As damning as that may be, this article would be pretty boring if that’s all I had to say about worldcoin, so let’s get to the juicy stuff. I have a contact who was affiliated with the worldcoin inner circle, so I know a great deal about how they operate. Since it’s inception, those behind worldcoin have been more interested with price manipulation than coin development. Worldcoin exists only as a medium for them to extract money out of those foolish enough to buy into the web of lies they weave.
Where do I begin? Let’s start with The United Open Currency Solutions (UNOCS), a collaboration initiative between worldcoin and two of the most notorious scamcoins of the time, phenixcoin and feathercoin. Using silly terms like “CEO of worldcoin” and “CIO of feathercoin” in their press release, UNOCS amounted to one of the most pathetic and transparent pump and dump schemes in recent times, yet people still managed to fall for it.
The price of these coins surged by 100% on this news, and the FTC/PXC/WDC insiders proceeded to dump their stash onto the market, making a nice profit. Unsurprisingly, UNOCS fell apart 2 months later, but that didn’t matter. While UNOCS itself was a failure, the pump and dump was a great success.
Now that the worldcoin insiders had dumped their coins onto the market, they needed to restock before their next pump and dump scheme. So, for the next 6 weeks, they put their marketing efforts on hold, letting the price of the coin bottom out so they could refill their reserves. This is reflected in how dead the worldcoin thread was – it would often go a week without a new post. After acquiring a suitable amount of coins, it was primetime to launch the next scheme…
Enter Scharmbeck, a teaser site with no real info claiming to be launching USD->WDC services. Presented as a “prime investing opportunity” and having the gall to compare itself to companies like JP Morgan, Scharmbeck appears to be all fluff and no substance, much like UNOCS was. When confronted, they point to their LLC status as proof of legitimacy… To which I say: good job, you figured out how to place an order on legalzoom.com
Will Scharmbeck come to fruition? Possibly. But given worldcoin’s history, I wouldn’t bet on it. One other thing worth mentioning is that given the amount of insider trading and pump and dumps they’ve done, they’re playing a dangerous game should it actually go live. I’m intrigued to see how this plays out, either way.
The WDC crew also has close ties with realsolid, another notorious scammer within the community. There’s just too much that is suspect with this coin to consider an investment in. Will the price increase short term? It’s possible, since people in this community are easily fleeced. But long term, this coin has no future. I can say that with certainty.