It claims to want to alleviate global Poverty etc but how it works - or at least how it does now - seems anathema to that Idea.
When it was launched you could by a TBC for 0.001 Euro. Brilliant, except it might be if anyone who wanted to actually knew about it's existence. Then it began its meteoric Rise in Value. At time of writing it is valued at 251153 Euros. So anyone wanting to buy a TBC now has to pay the equivalent of the Price of an average Flat in Britain to do so. How many People knew about Bitcoin when it was launched, and now have to find $4000 to buy one?
No Problem People might think and start looking for anyone who might sell TBC cheap. After all, isn't it the same with anything - that you will do this to try and secure a Bargain that could prove a useful Investment?
This is what those running TBC call "Discounting" - which they say is against the Rules of the TBC Agreement. So you have to find over a quarter of a Million Euros to do so. How many People trapped in Poverty have that sort of Money - or access to it? Surely, isn't it the Prerogative of any TBC Owner to sell them at whatever Price they wish? If they withdrew $1000,000 from a Bank and sold it to a homeless Fella for $10 that's completely up to them. If a TBC Owner wants to sell TBC for that - and some do - that's completely up to them, and aren't they doing their bit to help People who have very little Money? They're like the Philanthropist who gives their Money to the Needy. Some of these People have so many of them - which they probably bought when it was launched - that to them a few Coins aren't going to be missed.
To force People to pay more than 250,000 Euro's saying that they will be able to sell them in some Future for a Billion is almost as much of a Myth as a Property Market that sells you a House for 250,000 Euros - saying it will be worth more in the Future, but then so will every other Property - particularly if you want to upgrade. So whatever you make in Profit - you might not have enough to buy a bigger House should you want to.
TBC Wallet Owners now have to pay $10 to have the "Send" Button reactivated so they can send and receive Coin. They say this is because they have some sort of Backlog of Transactions which are slowing the Process down. Some TBC Users have said their Transactions have gone through recently, the same day and within the 1-8 Hours the Blockchain takes to process them. So what "Backlog" are they on about? There are currently 1,285,775 TBC Wallets in existence so they stand to make 10 times that in USD when People pay their $10. They then ask People to get 100 Referrals (that dreaded Word in Internet Marketing) - so the Equation reads 1,285,775 X 10 X 100USD. Phew, that's a lot of Money!!!!
This is supposed to make you a "Trusted Seller" - but how does it make you a trusted anything? Peoples trust comes cheap these days it seems. They also say that People should hold on to their TBC because it will be worth considerably more in the Future. It's difficult enough now to find anyone with 251153 Euros to spare - so how difficult will it be 1000,000 - and certainly 1Billion? If People trapped in Poverty now - a very immediate Problem for many - why shouldn't they sell their Coin on an Exchange and use that Money to improve Lives now?
So, instead of alleviating Poverty TBC isn't just becoming another Cryptocurrency that is increasingly only available to those who can afford the now expensive Value of it - it also makes vast amounts of Money for those who run it.
Even those who have paid huge amounts for TBC now have that Money effectively held Hostage by that Admin - who say that paying your $10 doesn't instantly reactivate your Wallet - but merely puts you in a Queue to have it done in the Future. The thing here is we might pay our Tenner to become a "Trusted Seller" - but can they be trusted as a Coin Admin with that Money? For a Currency that claims to be sooo not like Fiat Currencies it is acting like Greek ATMs recently that told People they couldn't withdraw any Money.
