Qoin is a $1B+ market cap Australian Cryptocurrency linked to Bartercard.
Not sure what the laws are around posting leaked intellectual property but you might find it googling “qoin-source” and looking for git.rip, right under the 1.9m CCP members database. (rofl line 45 AwsQoinService.cs 🤣)
This leak confirms what many of us suspected. Before we get into it let me show you some more evidence:
How did a company go from continued decline and eventual disposal for AU$2m, to a crypto unicorn in less than 12 months?
You might think it is from supreme business genius like Richard Branson or Elon Musk but in my opinion it looks more like a random number generator between 40000 and 60000 was used (line 49 AwsQoinService.cs 🤔).
Now I will try and explain how but if you are not familiar with how Bartercard works I HIGHLY recommend this article https://www.energise.co.nz/blog/bartercard-is-a-waste-of-money-time/ where he explains “Bartercard. A business will normally be given a line of credit worth T$10k – that’s 10,000 Trade dollars. The business then goes and spends this line of credit, incurring fees.” There is also a joining fee and monthly fees I am lead to believe.
So “Trade Dollars” are printed by Bartercard in the form of a credit line, ok great but as quoted above in “continued decline”.
For this next part let’s take a look at what they claim:
They claim that “The algorithm is based on average spare capacity of validated merchants”. 2 key properties are “spare capacity” and “validated merchants”. How they are really calculated I’m told and is my opinion is in the source code leak (maybe google “qoin-source” look for git.rip under the 1.9m CCP database 😉).
In my opinion this reminds me of love coupons, you become a “validated merchant” for free and often receiving free qoin, they add (market cap ÷ validated merchants) on average over AU$80,000 additional market cap, then they try and sell some back to you for real money!
Recap: You become a verified merchant, they “tokenize spare capacity” using in my opinion effectively love coupons, make the market cap go up ~AU$80,000. Ask you to buy love coupons with AU$. Completely up to you if you accept love coupons as payment. If you break up they keep the market cap. Maybe you need a divorce? They party on the Gold Coast.
I would take a moment like to thank everyone who has supported us. Sticking my head out into the tsunami of intimidation has been a roller-coaster ride from hell but reading your messages and nice comments, really appreciate it 💗
These are my opinions and the evidence used to form them. No accusations are being made. It is also my opinion that it is an issue of public interest as my family, friends, and fellow small business owners are being targeted (in my opinion).