About 2 weeks ago I found 2 articles about this new 'revolutionary' coin BitcoinPoS (BPS) which really drew my attention. I just couldn't believe what I read there. Too good to be true!

- https://www.newsanyway.com/2020/06/08/bitcoinpos-is-the-new-coin-to-revolutionize-the-crypto-world/
- https://medium.com/@bitcoin_pos/bitcoin-proof-of-stake-the-next-evolution-of-bitcoin-technology-c046c1c86d7d.

But hey, intrigued as I was, I started searching more about this and found some information at Coingecko (https://www.coingecko.com/en/coins/bitcoinpos/usd). The coin was trading at that moment (01 July 2020) at about $1.32.

When I returned back to Coingecko, last Sunday (12 July 2020), I was very surprised to see that BPS was suddenly trading at $88.41.

What happened here? Did I miss a 'once-in-a-lifetime' opportunity? Or is there something else going on. I was confused so I visited the official website (https://www.bitcoinpos.net/). I read the site fully and visited the Github but I couldn't find any information about the team or its members. Strange, not?

On the page, in the Exchange section I understood that must be a full-blown Scam. Why? Well it states: Exchange rate: 1 BTC = 80 BPS.

So, let's assume I send 1 BTC, which has a value (at the time of writing) of $9099.88 in return I will get 80 BPS which have a value (at the time of writing) of $84.38. Now, do the math : 80 * $84.38 = $6750,40.

So I just lost $2349,48 ($9099.88 -$6750,40). Right?

So from this you should understand that this 'Bitcoin PoS' is nothing more then a Bitcoin Proof Of SCAM!

Resources:

https://www.bitcoinpos.net/

https://explorer.bitcoinpos.net/

https://www.coingecko.com/en/coins/bitcoinpos#markets

https://medium.com/@bitcoin_pos