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The Cruinn - The Common Law Court's cryptocurrency


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  • 1 month later...

According to the CLC website, 

 

"Any amount of Cruinn can be purchased without questions.


You will not be questioned when you withdraw from your wallet.


The state has no access to your wallet.


The Cruinn is backed by precious metals and tangible assets.


The price of the Cruinn is linked to the value of Gold (1 ounce of gold = 1,000 Cruinn)


There are no taxes to pay on the Cruinn.


All income received from fees will go towards setting up common law communities."

 

I wonder what will happen to the Cruinn if the value of Gold declines. 

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2 hours ago, Grumpy Grapes said:

There are no taxes to pay on the Cruinn.

 

That is false. If they are going to use the Common Law to fight the tax, they'd better establish that first.

I know it works as no tax on paper/theory but whether if you are contested and your argument works is another matter.

 

Anyway, it doesn't say much at all on the website. What network it uses, for example.

No white paper even. lol

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  • 2 weeks later...

It's not backed by anything. They say (I talked with them over the phone and e-mail), it will be backed by gold and real assets. They literally say that they will buy gold coins using proceeds from Cruinn and will establish storage to keep it. Pinky promise.

Who will keep these assets? What is that person goes rogue, dies, government seize it, someone stole it, or anything else?
This is totally centralized, money grab scam. It has nothing to do with cryptocurrency.

 

Why won't they just use Bitcoin, Bitcoin Lightning, or even Monero? Bitcoin is most known, tested and established crypto, Monero is very private. These are ready-made solutions.

CLC doesn't want easy payment option. They want your money. That's why they created scam coin cruinn, without any whitepaper, any blockchain, no network, nothing just send them money that's it.

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