Prodeum Penis Postulate – What Lithuanians Can Teach Us About the Penis and the People Who Think With One.
An above average income in Lithuania is just about $10,000 USD. Well above average. So when the people behind Lithuania-based Prodeum disappeared without a trace after raising an anywhere between thousands to millions of dollars (the ICO goal was $6.5 million) with nothing but the word “penis” left behind on their website we must put forth the Prodeum penis postulate.
The Prodeum scam was all done in 10 days flat. They put up a nice website, put out a press release, raked in what we can only assume was a lot of money and then disappeared. If you live in Lithuania (if that’s where the Prodeum people really are from…) you can live like a king for life considering the income levels of Lithuania.
The website, such as it was, has been pulled but we have the Wayback machine to record this historical event for posterity. The Prodeum penis postulate was formulated by me after accumulating sad observations of recent confidence tricks including Bitconnect, Tether and now Prodeum.
The Prodeum penis postulate has three component parts:
1) Government regulation will become inevitable if the bullshit with ICOs and cryptocoins doesn’t stop. If we, the digitcal currency industry as a whole, fail to regulate ourselves world governments will have little choice but to step in and impose regulations of their own.
2) People need to become educated and aware of every investment opportunity to recognize potential risks and rewards and understand that investing in a cryptocoin because it is new and it is cheap is not an automatic fast lane on the road to riches. Lots of research and due diligence must be performed by every investor considering any cryptocoin investment.
3) Every cryptocoin investor will need to be more skeptical before buying any new, unproven coin with the mantra “PROVE IT!” playing over and over again in their head as they read a Prodeum press release or review and and every claim made on any ICO or coin website.
The power of the Prodeum penis postulate shines through with a re-read of the press release mentioned in the previous paragraph. The Prodeum people used all of the right buzzwords (blockchain, Ethereum) while hitting all of the right notes in terms of people eating fresh, healthy produce which plays to people’s fear of getting sick or even dying before a product recall can roll out.
SADLY the press release had warning signs….
“Prodeum has already had discussions with the International Federation for Produce Standards (IFPS),” (PROVE IT)
“Plans are underway to begin trial runs in Lithuania and the U.S. later this year. Then, following further meetings with the IFPS, a beta app is in the works for late 2018 or early 2019.” — UHM — how can you have trial runs BEFORE the beta app is ready?
So who was behind Prodeum? We’ll probably never know. Every identify used was fake or stolen. Every related LinkedIn profile has been deleted and the pictures and names of those supposedly behind Prodeum were hijacked in what could only be called some form of identity theft.
We’ve said it before and we’ll say it again — apply critical thinking sills, analyze every aspect of any offer or investment and make a fully informaed decision with as much documentation and proof you can validate. And if you CAN’T then you should probably avoid any such investment.
