written by reader Utoken

By Anonymous Questions, March 17, 2015

Travis (and others), Have you heard of this new digital currency called Utoken? Developed by a company called UFUN but seems to be a pyramid scheme. Please share your thoughts if you have. Thanks

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Travis Johnson, Stock Gumshoe
March 17, 2015 10:33 pm

I don’t know if it’s a pyramid scheme, but it sure doesn’t make any sense to me. Bitcoin without the control on number of coins or the security? I don’t get it. And I barely get bitcoin and do not share the optimism that some people have about its prospects. Maybe I’m missing something, but I’m a generally curious guy and a few minutes on their website was enough to help me lose any interest I might have had in figuring out how it actually works.

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archives2001
Irregular
archives2001
April 8, 2015 12:31 am

Yeah, anything else wud be appreciated.
They do say that it’s ” ‘backed’ by gold”*,
whatever that means!
*Just who’s backing it, where is it held,
and how secure is it?

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