Monday, July 6, 2015

USFIA Update: Gemcoin ATMs (probably not) and warning in Spain about it being unlicensed investment

NOTE: Previous coverage on USFIA can be found here

MLMSkeptic has a special disdain for someone scamming their own kind in order to get ahead, which is pretty much every scammer out there, when the truth is often in plain view, albeit the view may have been distracted.

A certain Gemcoin promoter online claimed that Gemcoin ATMs , THOUSANDS of them, will soon be distributed around the world, so people can get cash through their Gemcoin account. As an example, they showed two ATMs allegedly with Gemcoin listed next to the typical ATM logos like VISA / MASTERCARD / AMEX and so on.

Screencap'ed from
As you can see, that's "Gemcoin" 2nd from the right on the top row, and here's a guy that looks like he's getting money from it.

So why is there a "Gemcoin" logo's bottom showing just above the ATMs?

Turns out, these two are probably the ONLY ATMs that display the Gemcoin logo... because they are installed at Gemcoin HQ, i.e. UCCA / USFIA / AFG / whatchamacallit in Arcadia. Don't believe me? Here's a different angle of the same ATMs, from a different Gemcoin promoter:

Then consider this shot from the FRONT of the lobby... at the reception desk

One must conclude that the two confirmed-to-exist (whether you can actually convert Gemcoins to cash is a different matter) alleged "Gemcoin" ATM are located in the main lobby of USFIA/AFG, as this is the SAME paneling used in both pictures.  Albeit it's not in public view, but around the back.

Frankly, other than banks, the ONLY other locations with ATMs, esp. these free-standing kinds, are local convenience stores. You know, something like this:

The ATM is probably a Nautilus Hyosung 2700, which looks like this by default:

Aha, same sign "topper" and everything! So what USFIA did was they replaced the QUEST logo and put in Gemcoin instead on the "topper", the extra display board on top of the ATM itself.

FYI, the Nautilus Hyusong 2700 ATM can be purchased for $2500 (or less) each, depending on amount of options. What's REALLY intriguing is this model can also be ordered in "shell form" (i.e. screen and interface only, no cash dispenser or lock) as an upgrade to existing ATM. And obviously shell would cost even less, probably around $1500.

So to conclude this little intellectual exercise about Gemcoin ATMs

Q: Will there be thousands of Gemcoin ATMs deployed?

A: Only two were confirmed to exist, both of which are in USFIA HQ. And it is not proven they can access Gemcoin "ewallet" at all.

Q: Are there really ATMs that will let you withdraw Gemcoins to cash?

A: Probably not. These two in USFIA HQ are at best, two regular ATMs with custom "toppers" replacing QUEST logo with Gemcoin logo. At worst, they are shell display pieces, with no working innards.

Basically, for the price of $5000 or a little more they had created the illusion of Gemcoin ATMs.

That's cheap.

Bonus update: Spain had warned that USFIA is NOT authorized to offer investments in Spain.

You are welcome to check the site, and they even offer English version: "en Ingles"

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