ATC Coin provide no information about who owns or runs the business on the company website.
The ATC Coin website domain (atccoin.com) was privately registered on March 1st, 2017.
A page on the ATC Coin website titled legends involvement claims Bill Gates, Warren Buffet, Eric Schmidt, Richard Branson and Peter Thiel are involved in the company.
No proof of any involvement by any of the individuals listed is provided.
An UK incorporation document for ATC Coin LTD is provided on the ATC Coin website.
ATC Coin LTD was incorporated in the UK on May 11th, 2017.
Subhash Jewria(right) is listed as the sole Director of the company, through a virtual mailing address owned by Garden Studios.
On his Facebook profile, Jewriacites his location as Mumbai, India. This is likely where ATC Coin is actually being operated from.
Prior to launching ATC Coin in March Jewria was promoting My Money Seva. He was also promoting payment solutions to MLM companies:
My Money Seva appears to be a local e-commerce discount platform. As far as I can tell, ATC Coin is Jewrias first MLM launch as an executive.
Read on for a full review of the ATC Coin MLM opportunity.
ATC Coin has no retailable products or services, with affiliates only able to market ATC Coin affiliate membership itself.
ATC Coin affiliates invest in ATC Coin on the expectation theyll be able to later sell the coins at an increased value.
ATC Coin affiliates invest 100,000 INR ($1544 USD) and receive 50,000 ATCC upfront, plus 4500 ATCC a month for 18 months.
Residual commissions on funds invested by recruited affiliates are paid out via a unilevel compensation structure.
A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):
If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliates unilevel team.
If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.
ATC Coin pay a percentage of funds invested by affiliates in a unilevel team, based on what level of the unilevel team the affiliate is on:
ATC Coin affiliates can increase the percentage paid out on levels 7, 9 and 11 if they meet the following qualification criteria:
A residual commission is also paid on cashback payments, again based on what level of the unilevel team the cashback was generated on:
Note that the ATC Coin website does not provide any information on how affiliates generate cashback.
ATC Coin reward affiliates who recruit downlines as follows:
ATC Coin affiliate membership is tied to an investment of 100,000 INR ($1544 USD).
ATC Coin was launched in late April and is currently publicly tradeable on the Nova Exchange.
ATC Coin is also listed on Coin Market Cap, with a current value of 9.2 cents.
As at the time of publication, the actual value of ATCC is lagging behind projections used to market the opportunity:
According to Nova Exchange, on July 1st the value of ATCC was 0.00035 BTC (5.92 INR).
Coin Market Cap began tracking ATCC in late June. Today ATCC has a value of 8.7 cents USD (5.64 INR).
As far as I can tell ATCC has no real world application as of yet, leaving a question mark over whether the coin will achieve projections going forward.
ATCC presents itself as yet another MLM pump and dump coin. Affiliate presentations claim the coin can be used for e-commerce, but as of yet there is no evidence of this being possible.
In line with other MLM pump and dump altcoins, all ATC Coin affiliates can do is invest in the coins, trade them (among themselves as theres no public interest) or hold onto the coins and hope the price rises.
Interest in ATC Coin at the moment appears to be exclusive to India. The UK incorporation is a shell listing, with ATC Coin not appearing to be registered in India to offer securities.
The company also has no retailable products or services, meaning its operating as a pyramid scheme.
At the moment ATC Coin is being marketed as Indias answer to bitcoin. This might generate some initial investment hype, but without a real world application ATC Coins value is going to eventually plummet.
Its also worth pointing out that ATC Coin is undercutting the public market, offloading premined ATCC for 0.76 INR.
This suggests ATCCs current public price of 8.7 INR is massively inflated (to the tune of 1144%).
Subhash Jewria can either raise the price hes selling premined ATCC for through ATC Coin, which in turn will cool affiliate recruitment, likely collapsing the MLM opportunity.
Or he keeps massively undercutting the current public value of ATCC, which will stifle public trading of the coin.
Jewria is unlikely to kill off his golden goose (selling ATCC at a huge discount to gullible investors).
As such when ATCCs public value eventually aligns with what Jewria is selling his premined ATCC for, investors get screwed.
Read the original post:
ATC Coin Review: ATCC altcoin with massively inflated ...
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