Numerous anecdotes surround Steven Seagal the actor / Aikido expert/ producer / screenwriter / director and musician, most of them painting the 90’s action star in a bad light. One anecdote about Seagal was told by actor Rob Schneider to radio host Howard Stern. In it Schneider claimed that Seagal went in a meeting for a movie he wanted to make. Seagal, in his gruff voice, announced that he had just read the most amazing script in the world. When Seagal was asked who wrote it, Seagal – with a straight-face – responded, ‘I did.’
Seagal also reportedly stretched the truth numerous times. He claimed that he was friends with Bruce Lee and that they usually talked about their same-age sons. However, Seagal’s eldest son was born in 1975 – two years after Bruce Lee’s death in 1973, and ten years after the birth of Lee’s Son Brandon in 1965.
Given these details, would you believe any claims Steven Seagal would announce?
Last month, Steven Seagal posted on his Twitter page that he was to serve as a brand ambassador for the newly launched cryptocurrency Bitcoiin 2nd Generation. Note the double “i” in Bitcoin which most believe was a way to lure and confuse would-be investors and make them think that they are buying into Bitcoin – the first decentralized digital currency.
From Team Seagal
Steven has just become the worldwide ambassador for the Bitcoiin 2nd Generation crypto currency. Press Release https://t.co/aY13wDCbzh
More to Follow
Love and Peace
— Steven Seagal (@sseagalofficial) February 20, 2018
Would Seagal’s crypto endorsement constitute as a red flag?
Besides Seagal’s problematic ethics, Bitcoiin 2nd Generation itself has tons of issues investors similarly need to pay attention to. Steven Seagal’s endorsement should be the least of their worries as mere two weeks after Seagal’s proclamation, the New Jersey Bureau of Securities gave the public a warning about Bitcoiin’s selling of unregulated assets. The absence of specific info on who are the creators of the project gave authorities a cause for concern. Bitcoiin ICO was eventually accused of being nothing more than a Ponzi scheme.
Read for yourself Bitcoiin’s actual explanation of how their business operates in a press release they published in February. In it, Bitcoiin 2nd Generation or Bitcoiin 2G stated, “To promote Bitcoiin B2G, a depositor chooses to participate in one of our accredited mining programs, earning commissions from his recruits. Bitcoiin B2G offers a 4-level commission structure, available to those who join the program and/or purchase Bitcoiin B2G during the ICO period.”
A cease-and-desist order was also issued by New Jersey’s Bureau for Securities. It called Bitcoiin an “unregistered security”. The bureau also stressed the vagueness of Seagal’s role in the cryptocurrency project. Similarly, the Department of Commerce & Insurance of Tennessee alerted users of Bitcoiin’s non-registry with the state as a security issuer. It also advised investors to “be cautious” when transacting with Bitcoiin. The department is also highly skeptical of Bitcoiin’s guarantee of “high returns and low risk”. There was also an evident vibe or pressure of having to “buy immediately”.
The final detail that seemed to answer the question of whether Bitcoiin is a scam was when Steven Seagal exited from the cryptocurrency project. Bitcoiin announced that Seagal, along with Bitcoiin’s founders, was abandoning ship in order to make Bitcoiin a “genuinely anonymous” digital currency.
According to Bitcoiin, it is moving into a phase where it is “converting from a token to a minable currency.” Their press release added, “we want to thank the founders and our brand ambassador[Seagal] for their good wishes for future projects.” So far, Seagal has not issued any statement with regards to his exit from Bitcoiin. However, his Twitter post about Bitcoiin is still visible and has not been deleted. The post is still retained in his account as a pinned tweet.
Bitcoiin was launched this January 2018 with a goal of reaching $75 million soft cap. According to its site, their target was reached and that tokens will be converted to Bitcoiins. The site added, “..we would like to thank all of our ICO participants for their support and contribution.”
Is Bitcoiin a scam? Only time can definitely tell.