A token which launched just a few months ago, Buggyra Coin Zero (BCZERO), has charged into the top sixty-odd coins by market cap despite having no whitepaper and no obvious technical team to speak of.
The token recorded 1,929% growth during the month of December, and despite a small pullback the value of BCZERO remains 1,693% higher than this time last month. So what is BCZERO, and where did it come from?
What is Buggyra Coin Zero?
The ERC20-based token was announced on Bitcointalk.org back in September, described in the post as:
“…a platform for the future funding of all kinds of payments to the Truck Racing Community worldwide that is built on Top of the Ethereum blockchain.” (capitalizations presented as as found)
Apparently Team Buggyra is a truck racing team which operates on the European circuit. Yes, truck racing. The team have won numerous race championships and set several speed records in the last few years, and hold a global presence in the truck racing community.
More from the project announcement:
“It will act as a payment platform for the payment of Racing Series and Racing Events in China, India, Europe, Asea (sic) and South America, as well as for Sponsorships, Merchandising and racing Fans.”
The rest of the announcement describes the various exotic world destinations which will host racing competitions for the team, and includes several dramatic low-res photographs of truck racing.
So… What Is Buggyra Coin Zero?
Well, it’s either the future of cryptocurrency, or one of the best, worst use cases for the technology that has ever been conceived.
Just consider how small the crypto niche is right now. Then bear in mind that this is the first time you’ve heard of truck racing. Now tell me the odds of those two crossing over in any significant way.
No whitepaper is posted either on the Bitcointalk announcement or on the project website. The ‘team’ section of the project happens to include the same people listed in the ‘advisors’ section, and there’s not much in the way of blockchain/tech experience amongst them.
Bitcointalk forum members remain skeptical, with one of them stating:
“A few red flags here for people considering investing:
- no white paper
- no team (the “advisors” are the team apparently)
- promises NASDAQ listing without providing any evidence as to how that might happen
- promises 5 fold price increase by 2021… by scam standards that’s not too much but no coin can know exactly what it’s going to be worth in 2 years
- very low volume, very high supply (10 billion)… this coin can be pumped for a few thousand dollars
…Plus I have no idea what you’re supposed to do with it.”
BCZERO Price Moves
Exactly 100% of trades were executed on the Livecoin exchange for the second day of January as the token price continues to fluctuate. An average daily volume of $20,000 carried BCZERO to all the gains described above.
Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.
Featured image courtesy of Shutterstock.