When an MLM crypto scheme realizes its Ponzi token isn’t going anywhere, it’s common to just dump it and launch another one.
The idea is to create a new pump to bring in new bagholders to dump the original converted tokens onto.
GSPartners is the latest Ponzi scheme to rebrand itself as a shitcoin factory.
A visit to GSPartners’ website reveals the message “June is the magic month”. A timer below the message counts down to 17 days.
Based on leaked marketing material, GSPartners’ announcement appears to be tied into their yet to be launched JONE token.
The ruse behind JONE is tied to the J One apartment tower in Dubai.
J One was a project initiated by RKM Durar Properties. Construction began in August 2017 and finished in June 2020.
GSPartners is pitching their JONE token as a “unique way to redeem a hotel apartment business”.
The representation seems to be JONE floor space has been “tokenized”, something something here’s a new shitcoin to invest in.
Why does a completed apartment block in Dubai need to be tokenized? Because blockchain, that’s why.
Whether J One the building has anything to do with GSPartners’ JONE tokens isn’t even clear.
Even if we play devil’s advocate and assume it does, what does that even mean?
If none of this is making any sense of you, welcome to the MLM crypto space. Any excuse to get you to invest in some newly launched coin.
To help make sense of GSPartners’ latest marketing ruse, you need to look at their existing shitcoin, G999.
GSPartners launched after former Karatbars International executive Josip Heit spat the dummy and split.
Since being dumped on dodgy public exchanges earlier this year, G999 pumped to 2.1 cents.
That was in February. Being a Ponzi coin G999 then promptly dumped to its current value of $0.004; less than half a cent.
And so we have Josip Heit running his Ponzi coin script again. And out pops JONE.
GSPartners affiliates will able to convert their worthless G999 token balances into JONE.
Presumably this will take place before the public launch in 17 days. After which new bagholders will be sought to dump JONE tokens onto.
From there you need only look at G999 back in February to see what will happen.
JONE will be dumped on the same dodgy exchanges G999 is on. There will be an initial pump, cashing out and the dump.
How many shitcoins Heit launches will probably be determined by how many new JONE bagholders jump on board.
I’ll check back on June 27th for an update.