Ponzi tokens like G999 and LYS from GSPartner are going down. GSPartners came up with GEUR to give the impression that affiliates haven’t lost most of their money.
GSPartners’ original Ponzi coin is G999. For unknown reasons, GSPartners told gullible investors that if they bought G999 investment packages, they would become billionaires.
This is how it works:
As it became clear that G999 was a Ponzi shitcoin that wasn’t going anywhere, GSPartners tried to start more shitcoins. After some trouble with Dubai property scams, GSPartners decided to pull off an NFT scam.
They called it Lydian World. Lydian World is tied to the LYS and XLT tokens, but no one talks about the XLT tokens anymore.
Anyway, here’s what’s happening in Lydian World: Once it was clear that no one was interested in a Ponzi scheme to get money through NFT “games,” GSPartners started a scheme called “metaverse certificates.”
The GSPartners’ metaverse certificate scheme has nothing to do with the metaverse, which doesn’t come as a surprise.
The metaverse certificate scheme is a simple Ponzi scheme. GSPartners affiliates pay a fee and then invest up to 700,000 USDT with the promise of a 480% annual ROI (click to enlarge):
On a The webinar from GSPartners is for investors in the US. The US-based CEO of GSPartners, Michael Dalcoe, said the following about the metaverse certificates at a meeting a few days ago:
We put our money on the blockchain, and our trading partner trades it for us. Our money grows by at least 72% a year.
Yes, I did not stutter. around 72% a year, and sometimes even more. Even real numbers are out of the question. That means that every year, your money will double. And, in reality, your money doubles every six or seven months.
Metaverse certificate returns are paid out in USDT, but you can’t take them out of the system. Instead, GSPartners affiliates must use the USDT to mine LYS tokens, which will allow them to cash out in LYS in the future.
Here’s what’s wrong:
GEUR was made by GSPartners to make up for the Ponzi scheme falling apart. GEUR is a currency that doesn’t exist outside of GSPartners and is said to be equal to the euro. If a GSPartners affiliate cashes out their metaverse certificate ROI in GEUR, they must then use the GSPartners backoffice to convert GEUR to USDT.
One transaction can cash out up to 5,000 GEUR, and GSPartners takes 2.5% of every transaction. The GSPartners’ GEUR webinar was hosted by Steven London Morris, one of Dalcoe’s downline based in California.
If you want to know how and why GSPartners is paying for withdrawals, you can look at their recent website stats:
Over the past year, GSPartners has been busy finding US investors. Those investors want to get their money out, but until recently, all GSPartners could do was watch LYS go down while their attempts to G999 wash trade pump failed.
Based on the information above from SimilarWeb, you can see that GSPartners has spread to Cuba, South Africa (this is a comeback after GSPartners had already died there), and Switzerland.
The launch of GSPartners’ metaverse certificates investment scheme goes hand in hand with this new influx of money. In the chart above, however, you can also see that, overall, there hasn’t been much change in the number of people who visit GSPartners’ website.
It stays the same. GSPartners is just putting off exponentially growing ROI liabilities until it can find a lot more people who are likely to become victims. It’s one thing to use shittokens to trap people’s money in an endless chain.
Once you represent something with real money and let investors cash out that real money, you’ve just created a financial black hole that will drain the money that was invested. Even though marketing might lead you to believe otherwise, GEUR isn’t tied to the euro.
Instead, it’s tied to how much USDT GSPartners is willing to pay out. Michael Dalcoe knows this, so on behalf of GSPartners corporate, he tries to stop withdrawals by saying that “poor and middle-class people do it.”
How the inevitable USDT crunch at GSPartners shows up remains to be seen, but over the next 6 to 9 months, look out for problems with GEUR withdrawals.
The SEC has not registered GSPartners, its owner Josip Heit, Michael Dalcoe, or Steven London Morris. This is against US securities law. BDSwiss supposedly makes money through forex trading to pay for metaverse certificates.
Both GSPartners and BDSwiss are not registered with the CFTC, which is against the Commodities Exchange Act.
GSPartners and the people who set it up are not registered in any country to sell securities.