Kenya's CryptoCurrency? The Nurucoin


#1

Just saw this on Google Ads. On their website they claim that JamboPay and Little are some of the partners accepting the coin
https://www.nurucoin.com


#2

:slightly_smiling_face:


#3

Well this is Nu :smirk:, eager to check it out


#4

A question I always ask, what problem is the business solving? Ama ni copy paste quail eggs.

1 billion coins at 10 bob each… pass for me


#5

That is exactly what is happening.

The accepting partners all seem to be companies owned by the same people behind the coin (except Little and Jambopay)

The CEO guy is also the CEO of Churchblaze that owns Nunua 254, Homestay Safari, Blazebay etc.

https://www.nurucoin.com/team

https://churchblazegroup.com/about-us/management/

SO MANY RED FLAGS. STAY AWAY


#6

BEWARE: I am almost certain that this is a scam.

I wrote to Little some time back about this and got a response today.


#7

I saw this earlier on and I went on a stroll to check them out. I don’t have enough to go by yet to warrant any shred of investment. And as someone said there’s no value addition in this… Another quail.


#8

That name and colours itself shout scam all over


#9

So its a scam, bummer… sad how guys just wanna make a quick buck


#10

It seems Little threatened legal action. They are no longer listed as an accepting partner.

STAY AWAY, PEOPLE.


#11

Becky:
nuru coin ni kaa scam dont try kuna ma red flag coz they said they have partnered with little cab but n uwongo nitapost iyo email response from little uone​:flushed::flushed::flushed::stuck_out_tongue_winking_eye::stuck_out_tongue_winking_eye:

Isaac Muthui:
I am the CEO nurucoin ,and it’s never wise to judge a situation before you have all the facts

Becky:
tell me something about this email then :pensive::pensive::pensive:

Isaac Muthui:
We had talks with little cab which were not yet finalized but we had reached a “a gentleman agreement with the top bosses” unfortunately not every information is promptly passed to all staff members by a CEO ,and the CEO doesn’t receive all emails ,so by the fact an employee who probably doesn’t know about our conversation responded to an enquirer that does not make us fraudulent infact I would think it’s actually foolishness to judge without all facts ,if you know how to code in solidity come and test our coin and
Tell us it’s fakeness

I Never indulge in negative energy and I strongly believe this is a group of No negative energy ,positive informed criticism is allowed ,negative uninformed opinion which are meant to scandalize our lots of investment in energy ,Brain money and effort are Not welcome after all you can decide on your own to do your due diligence including contacting a lot of team members here almost all the people in that white paper are in this forum ,ask authentic questions and we will answer

Becky:
it is not negative vibe boss it is just a simple query i asked .may it is was harsh :grin::grin::grin: anyway good


#12

This was a reply i got from huyu msee wa nurucoin after i showed him the email response from Little cab what do you think


#13

The guy doesn’t seem very trustworthy. I wouldn’t give him a coin.

A few weeks ago as I was researching him, I read an interview where he stated one of their websites has over 100 million visits per month (or year)

Impressive, right?

Well, no web analytics tool seems to have any details about the site. For a site that gets 100 million visits, that is close to impossible.

For a guy that runs a successful business with millions of visitors, you’d expect him to know a gentleman’s agreement is just that. It is not official until a contract is signed.

I personally think the conversation went something like (If it actually happened):

Isaac: Yoh! We have a new cryptocurrency called Nurucoin. Nurucoin will be the next big thing since Bitcoin. Do you want to be an accepting partner?

Little CEO: Nice. We will consider accepting Nurucoin when it becomes established and mainstream.

Isaac: I am glad that we have a deal. Looking forward to our partnership.

Little CEO: I said only if…

Isaac: It was a pleasure talking to you. My team will be ecstatic when they hear this.

Little CEO: But… But…


I also have the transcript of the conversation between Isaac and Jambopay’s CEO if anyone is interested :grinning::grinning:


#14

I am eager to read the JamboPay conversation… haha


#15

they are targeting ksh10 billion or roughly $100 million in the ICO… mmhhhh… lets wait and see… plus basing their technology on ethereum… means there is nothing new here…


#16

JamboPay seems to have been delisted as well… This is going great…


#17

This would have to get approval from the capital markets authority,right? Its a public offer.


#18

Unfortunately, the current laws in place do not explicitly forbid ICOs. That is why China, USA, South Korea etc changed their laws to ban ICOs.

Unless the govt. specify requirements for or ban ICOs, there is nothing much wrong with what Nurucoin is doing.

The story will be different though if it turns out to be a scam and people start demanding action.


#19

I’m not saying its illegal to do an ICO but CMA has to be involved in public offerings of securities(i’m assuming it’ll be a public offering and not a private placement and i’m also assuming that it meets the definition of a public offering of securities. I may be wrong). Even if its not wrong/illegal to do the ICO, the CMA can reject it on some other basis-public offers have to disclose a lot of information.Its a tricky one. Nurucoin has to avoid the CMA(do a private placement). I do note that even on the NSE, there are some really dodgy companies.

Edit: CMA told me there is no investor protection for ICOs( also CMA is not sure whether it meets the definition of a public offering of securities). CBK didn’t comment. Just be careful guys!


#20

it’s Nurucoin day, Yaaay…! lol