With the recent hype surrounding Bitcoin and Bitcoins latest competitor, Ethereum, the number of ICO’s (initial coin offerings) to raise money for various blockchain related projects has reached unprecedented levels with many financial experts calling the massive rise in price of Bitcoin a massive bubble. While it remains to be seen what will happen to Bitcoin and Ethereum in upcoming months and years, what is clear is the insane number of ideas people are willing to come up with in order to raise money through Ethereum token crowd sales.
The latest is a coin that appears to push the boundaries of anything the world has ever seen in the ICO landscape - a token claiming to be running the worlds ‘first Satanic ritual on the blockchain’. The story gets even more bizarre when one delves deeper into the SoulCoin ‘Red Paper’ which appears to be a mixture of legitimate religious Satanism combined with a huge amount of satire clearly intended as a joke.
The crux of their religious backing is not the blood sacrificing evil you might expect - the Red Paper outlines the ideas of a popular sect of Satanism known as LaVeyan Satanism made popular by it’s founder Anton Szandor LaVey in then 60’s and 70’s which incorporates philosophies that are less virgin sacrificing evil and more a practice guide to hedonistic living, surprisingly not without a fair amount of moral backbone
While the coin clearly was intended for comedic purposes, with the amount of money being frivolously pumped into many ICO”s which clearly have no working product or business model, it’s unclear how much money SoulCoin expect to raise though there modest maximum cap of 666 Ether (roughly $200 000), a small sum compared to many ICO’s who have raised up to $100 million or more.
In return they promise to drive marketing efforts for the ‘SIN’ token with plans for launching on a number of popular cryptocurrency exchanges including the popular exchange YoBit. They claim that SIN will become a safehaven that will retain value for users after the ‘destruction of the bureaucratic institutions that currently control the modern world’ a doomsday prophecy that was clearly a tip from Satan himself.
Oh, and did we mention that by contributing you are effectively signing your soul over to the Devil? Be sure to read the fine print if you decide to go ahead and grab your piece of SIN in the hopes that the Devil will repay the favor.
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