At the Tiime Token website, the first thing a visitor notices is that the project is planning an airdrop, however, a look around the site doesn’t explain much about what it is about except that it mentions this is a sort of payment service.
This should make you wonder why there is no whitepaper on a site that is airdropping tokens to the public. The impression you’d get is that the community would have access to a token without understanding its utility in the ecosystem.
What is Tiime Token?
Even though there’s little information on the site on the project, there are hints that could give us idea of the concept the owner is pursuing.
According to the mission statement, the Tiime Token site stated that,
“we are in [sic] Funding Company that provides payday loans and personal loans they can be repaid fiat currency cryptocurrency or even your very own skills in exchange for TIIME Tokens that can be used to repay your loan. TIIME Tokens can be purchased”
A Suspicious Token Sale
The page also showed that the presale ended on April 19, while the main sale of the token commenced April 20, 2019. This is a suspicious move by an entity developing a financial service platform. The sequence of the sale could only mean that this is a likely scam project since scammers are known to be in a hurry to raise funds from token sale and shut down.
A Lousy Scam Job
A critical look at Tiime Token shows that the scam artist behind it didn’t even think through their strategy, but were just in a hurry to set up a money-making project hoping that there’ll be people ignorant enough to send them funds.
A project that couldn’t even put together a whitepaper or even a team has behind it a very lazy scammer and it would be pathetic for any investor to fall for such obvious scam as Tiime token.
There was a time many investors may have fallen for this but not anymore. Most are aware that there are many projects that have scammers behind them so I think it’s tough luck for anyone behind this.
The project recently released a statement in a bid to debunk the scam accusation on it in which it stated on Bitcointalk that it is not a scam.
“First and foremost let me say scam we are not
No we didn’t copy a whitepaper and Post because as we stated the whitepaper will be released soon. Secondly because we don’t have a full team we have not disclosed such information. Again as previously stated we are in development stages of our project. As we approach new developments we not only fund this project out of pocket we look for people to INVEST in the idea that’s how projects get developed.”
A critical analysis of the rebuttal shows that the person behind this project has a poor command of English language. The fact that it is based somewhere in Illinois makes it even obvious that this is a scam token sale.
The representative stated that they have a community around the project that believes in it, but this is doubtful. No one would believe in a project that could not even set of a competent team and a whitepaper.
Project Continues Despite Scam Allegation
The Tiime Token statement stated that they’re going ahead to develop it despite the scam accusation. But when we last checked, we found out that the announcement thread of has been deleted from the forum.
In their defense, the team further said,
“We are are small group of developers looking to broadcast a vision. True we don’t have a lot of experience as blockchain developers but we are always seeking expert advice and adequate knowledge on the subject.”
Since the acknowledged they have little or no knowledge of the technology and its uses, what makes them think that they’re competent to spearhead a blockchain project?
They Hope To Be Another Amazon
They made reference to World Wide Web, Amazon, Google, Microsoft as projects that no one believed would be a success but went on to prove skeptics wrong.
Well… I don’t know about you. What I do know is that there are signs that show a serious project as distinct from a mediocre or even a scam and Tiime Token has all the red tags for which scams are known.
The statement further said that they’re not in this for money but I doubt it. The entity behind Tiime Token is very much in a hurry to raise funds. That’s why main sale and presale have a gap of just a day.
This project should not be given attention, if for no other reason, the fact that the owners are ignorant concerning blockchain and yet are striving to build a blockchain based financial platform without a team and whitepaper but tries to raise funds show that they won’t put that money to good use.
Investors are advised to keep away from Tiime Token. There are better ways to invest your funds and make profit such as our recommendation.