DIMCOIN, another shit ICO

^Except not

If you haven't figured out by now, ICOs are shit. DIMCOIN is no exception.

This gem of an ICO had their crowdsale on July 1st, 2017. They planned on hosting a "Hybrid Stock Exchange", or HYBSE, on the NEM blockchain. They raised $14 million USD in the heydey of the ICO craze.

Since their crowdsale, they have had delay after delay. They even had another ICO for "DIMPAY", another "necessary component of the DIM ecosystem." That to me is a red flag.

After over a year of delays, I just assumed that DIMCOIN had led to vaporware, like 99% of ICOs. Then to my surprise, they announced that they were "releasing" the HYBSE yesterday.

Could it actually be true that the team was going to deliver? Were there actual companies listing on the HYBSE? Was trading going to start tomorrow?

Nah, not even a working product. Unfortunately, this is what was released:

LOL...a web page with a Youtube video...and some "preregistration"

Nice way to spend $14 million of the community's money, assholes.

On top of that, they are censoring criticism of their product on their telegram chat by banning dissenters, which is ALWAYS a bad sign in my experience. I have seen it first hand in failed ICOs like UmbrellaCoin, Doc.AI, and scams like Magos. When people get banned for criticizing, there is always something to hide, and investors to dupe...

Maybe one day they will deliver, but I wouldn't hold my breath.

I don't think this story is unique to DIMCOIN, but to almost every ICO that has been held since the ICO craze over the past two years. I personally think it is best to not purchase any altcoins until the SEC allows security tokens. If you want to hold cryptocurrency, I think Bitcoin is the king for now.

Information in this article is my own personal opinion, not financial advice.