Permit me to use the word extortion. Recently, I received calls from my friends back in Nigeria saying there's a coin whose value is more or equivalent to bitcoin. At first I felt so exited, but, I give a caution and ask myself if really is the case why is all crypto news silent on this? Or are they censored as it does happen in the main stream media?
Through some little searches on Google I found three different exchange rate pertaining to the price of (The billion coin) as against bitcoin.
To be clear about the exchange rate, I pretend to sell my TBC but to my surprise, the actual is lesser what was initially offered. Tbcexchange.com initially offered 1TBC to 1.09BTC but what they actually offered is 1TBC = .66BTC (highest rate). However, other site that accept TBC so the exchange at rates far lower that that.
My fellow people what can be done to either regulate crypto currencies or the extortion from less informed people in developing markets.
Thanks