Escobar Enters the Cryptocurrency Space
The name Escobar may ring a bell. Owing its ties to the notorious drug king Pablo Escobar, who was once among the most feared and infamous names in modern criminal history. His story, rising from a small time crook to the richest drug lord in the world, is covered in the popular Netflix Original series Narcos. Now, his name has found its way into the world of cryptocurrencies. Only this time, it’s for the good.
Roberto Escobar, blood-brother of Pablo Escobar, has decided to step into the cryptosphere by starting his own cryptocurrency: Dietbitcoin. Designed as a hard fork from the Bitcoin network, it aims to be a better, “faster, lighter alternative” to Bitcoin. At the time of writing, Dietbitcoin (DDX) is in its pre-ICO phase, with 300,000 coins being offered at a huge 96% discounted rate of $2, (originally priced at $50).
According to the website, Dietbitcoin will have an initial ICO supply of 1,000,000 DDX. These coins will be divided into three different selling rounds; the first round will see 300,000 DDX being sold for $50 each (currently on sale for $2), the second round will see 300,000 more being sold at $100, while the third round will see the 400,000 coins left being sold at a price of $1000.
The total coin supply at launch is 1,800,000, and a total possible supply stands at 21,000,000. Its design closely resembles that of Bitcoin, with the same SHA-256 hash function and PoW (proof-of-work) based algorithm. Details on the mining pool are have not been disclosed.
Telling The Next Web, Escobar Inc. COO Daniel Reitberg said
“Everyone should listen to these news, go to www.dietbitcoinICO.org and buy as many dietbitcoin’s as you can afford. The value will be very high as we are identical in numbers to Bitcoin, except we are 4000 times cheaper right now.”
“Why would anyone on the planet buy Bitcoin or any other cryptocurrency where there is no real team behind it,” Escobar Inc. CEO Olof Gustafsson remarked. Continuing, “We at Escobar Inc are committed to support the cryptocurrency Dietbitcoin fully and are managing the day-to-day operations of this new currency.”
These statements are not that convincing for someone who has been in the crypto space for a while. Moreover, software programs like Forkgen, are readily available. They let pretty much anyone initiate their own forks on the Bitcoin network. So, what would make anyone think that there is a “real” and truly competent team behind the Dietbitcoin project?
Alongside the introduction of the cryptocurrency, Roberto Escobar has released a book, titled Pablo Escobar’s Diet Bitcoin. The book describes his motivation for the coin’s launch, and is available on the Dietbitcoin website for free and on Amazon for $8.
In the book, Escobar claims that Bitcoin is an invention by the United States government and not Satoshi Nakamoto, as is widely believed. The book states:
“The world is going to see that this was created by them [US government]. And when they see it, it is too late, and when CIA founds out that the world knows about this, the CIA is going to sell all of their coins, and they will destroy the value of Bitcoin.”
Roberto then adds:
“Keep the Ethereum, Keep the TRON, keep the Ripple, and keep the Bitcoin. You will see what happens. They will all go to zero, almost zero. But not my coin. Because my coin, this is going to be my new work in life.”
While even Ethereum co-founder Vitalik Buterin has stated that the cryptocurrency market could drop to near-zero value, there is nothing about Dietbitcoin that would make one think that it will turn out be a legitimate cryptocurrency. Anyone can make bold and outrageous claims.