A new concept is circling around the cryptocurrency industry and it is known as the “Proof of Trevon James” or PoTJ. This is an ERC-20 token that appeared over a week ago and it is named after YouTube cryptocurrency influencer Trevon James. To date, his channel has gathered over 120k subscribers the numbers are certainly going, mainly getting this initial boost from the BitConnect scam.
Trevon James didn’t start the project. Rather, it was created by SpydrZero, a friend of his.
However, after its creation, Trevon James decided to join the project and to promote it through his channels. His latest commentary concerning the project concerns the buy, sell, and transfer of the token, which is as follows:
“When someone buys or sells Proof of Trevon James tewken, 20% of the buy at 25% of the sell price is split by the total number of coins and given as lock-in-rewards (priced in Ether).”
Essentially, this type of project scheme is akin to a pyramid, making it highly questionable. These types of investment recruit new participants with the promise of return, all while requiring them to contribute a great deal as well. Those who truly benefit from the scheme are those at the top.
However, there are certainly qualities that make this pyramid a bit different – in this case, the contracts are transparent and so is the reward system. This way, individuals can verify the system before they enter into it.
Additionally, it is important to note that those who sell their PoTJ for ETH, the coins are eliminated and the supply of coins also decreases. As a result, the value of the coins increases. This is a new type of reward system that may be more beneficial than others on the market. Those who use this system can also keep track of how other users are performing and their balances.
What are your thoughts? Would you ever buy some PoTJ cryptocurrency coins?