Actor Steven Seagal Endorses Questionable 'Bitcoiin' ICO

Action movie actor Steven Seagal has become the whole ambassador for a disputable cryptocurrency before Associate in Nursing initial coin providing (ICO).

A statement denote to Seagal's Twitter account confirmed the news, the announcement that was denote to the official web site of "Bitcoiin." Seagal's endorsement - one among variety of celebrity endorsements within the cryptocurrency house within the past year - comes over a month before the "second generation Bitcoiin" is about to be sold-out.

An attendant handout notably highlights Seagal's film and martial-arts career, stating: "Hollywood actor Steven Seagal has become a believer of Bitcoiin2Gen, the Hollywood action star are going to be representing the leading cryptocurrency organization, Bitcoiin2Gen, as whole ambassador."

The cryptocurrency in question is claimed to be supported ethereum's blockchain, and conjointly boasts a mining part through a partnership with an organization known as Dragon Mining. the web site conjointly advertises "considerable cash in on holding Bitcoiin (B2G)" via a staking/depository method.

The project notably boasts affiliate rewards for people who drive capitalist interest before the sale, career to mind investment schemes like OneCoin and BitConnect - each of that are defendant of constituting pyramid schemes - that conjointly featured affiliate programs.

As a handout from February. eight explains:

"To promote Bitcoiin B2G, a investor UN agency chooses to participate in one among our commissioned Mining Programs, can earn commissions off their recruits' earnings. Bitcoiin B2G is providing a 4-level commission structure, obtainable to whoever joins the program and/or purchases Bitcoiin B2G throughout the ICO amount."

Additional data concerning Bitcoiin's official backers is not obtainable on the web site. information from ICANN reveals that the positioning was at first created in 2015, is registered out of Panama, which the possession of it modified hands around Gregorian calendar month. 8.

Celebrity endorsement aside, Bitcoiin has attracted some criticism for sharing parts of pyramid schemes, or investment structures by that early investors build cash mostly by transportation in new consumers.

The name itself - that merely adds an extra "i" to "bitcoin" - has raised considerations that it'll cause confusion among unsophisticated cryptocurrency consumers. Indeed, frequent multi-level selling critic BehindMLM.com wrote earlier this month that "Bitcoiin hope[s] to pitch their B2G altcoin mistreatment bitcoin's established whole awareness."

Seagal's endorsement is additionally a notable one providing the pace of celebrity endorsements around cryptocurrency - as well as those from boxing champion Floyd Mayweather, Jr. and actor Jamie Foxx, among others - has mostly dried up. within the case of Mayweather, a planned cryptocurrency promotion venture was quietly scuttled, and far of the activity seen within the fall months died away following a public warning from the U.S. Securities and Exchange Commission.

"Celebrities alternatives|et al.|et al} ar mistreatment social media networks to encourage the general public to get stocks and other investments," the agency aforesaid in Nov. "These endorsements could also be unlawful if they are doing not disclose the character, source, and quantity of any compensation paid, directly or indirectly, by the corporate in exchange for the endorsement."