Bartercard is a commercial barter operation established in Australia by an ultra-aggressive and ‘successful’ businessman, Wayne Sharpe.
He was supported by two others and the three of them created arguably what for years was recognised as the best run commercial barter organisation on the planet. But it had some dark secrets . . . indeed many of them.
I have always enjoyed horse-trading, being part of the early Green Dollar movement and New Zealand Barter – New Zealand’s first commercial trade exchange.
I joined Bartercard New Zealand decades ago when the New Zealand franchise had only 300 members. I was purchasing the Bartercard franchise for Fiji when Colonel Rambuka ‘did his stuff’ and we pulled out.
The commercial barter industry essentially creates a branded currency and builds a network of traders around this currency. Ostensibly, the business lives off the fees generated from the trading that occurs within the private network. In theory the greater the number of members, the greater trade volume, the greater the brand and the greater the income to the business.
There are however more lucrative aspects of the business that the currency owners are able to capitalise on . . . creating, selling and buying businesses (franchised agencies) . . . and fraud. When it was in its heyday, Bartercard sold agencies and franchises primarily throughout Australia but also in New Zealand and then globally. NZ has always been its shining light.
Bartercard was born in crime – I have been informed from multiple sources that the original software was stolen – so fraud is these operator’s middle name! Legion are the various shenanigans that these crooks got up to over the years . . . ripping off their staff, members, franchisees, shareholders, management, partners, associates, investors and indeed the entire Reciprocal Trade industry globally.
The ability to conceal debt is their secret. This operates at every level of what I call “A PONZI SCAM” starting at the lowest level with the debasing of their currency, the Bartercard Trade Dollar. At its simplest form Bartercard scams its members by encouraging them to supply goods & services in return for a credit – the value of which is pegged to the local currency.
Required to trust the currency operators that the credits and debits always equate, members are then scammed when value disappears from the system & the currency devalues – it’s just a simple fraud. Trust us!
TIP 5:
Bartercard asks that others trust them – that their currency is backed by true value. It isn’t and never has been.
Fraudsters offer something of little value for something of real value. Beware!
Hi Dennis, I am considering buying into this new Qoin trent, which is a bitcion back by barter card. have you herd of this or looked into this at all?
Hi Louis
> have you herd of this or looked into this?
Yes and no
I have heard of it but not investigated it.
Anything backed by Bartercard will obviously have the same very serious issues that the Bartercard currency has.
Bartercard’s primary business model is to convince people to give them cash in return for debt. Their long-term skill lies in their marketing aggression and an admitted extraordinary capacity to conceal debt by using deception. My advice is if the tip you received came from the East, go West, or visa versa.
Thank you for asking, I am honoured that you would ask me and trust that your cash is safer in the bank or your own safe at home than in their hands!
Hey Dennis, Are you looking into Qoin?
https://bitcash.io/review/qoin-review-ponzi-scheme-backed-by-barter-card-australia/
Hi. Short answer, “no!” but I can assist you with support in the contention that Qoin is a fraudulent product, run by crooks. You can quote me on that. The Bartercard and Tradeqoin (Commercial exchange of Qoin) operations that I investigated extensively a few years ago revealed substantial long-term dishonesty as the norm, not an exception. Chief among this was the attitude and approach to business of senior management and directors much but not all revealed in public. The art of a conman is to secure something of value in return for something of little or no value. Charlatans do not because they cannot change their spots. Their aim is to profit from your ignorance, and deception is most certainly the name of the game in regards to Qoin. May I respectfully suggest that your exposure is good, accurate and if you err then it is understated. Anyone intelligent would never invest into it and must surely expect to lose all.
Thanks Dennis,
I have no intention of getting involved with it, I was more hoping to see you get your teeth into it and try and save some Mum and dad investors who will likely be burned with your expose style investigating and writing. Anyway, keep keeping the bastards honest Dennis. Cheers.
Understood.
> try and save some Mum and dad investors who will likely be burned
Over the years I have become a lot more cynical about the actual impact of speaking the truth. It seems to me that while EVERYONE claims to want to know it, VERY FEW are prepared to pay the price that it costs to obtain it, thus the crooks that deceive others for personal gain appear to get away with it. Fortunately there is ultimate accountability when we meet our Maker! Thank you for commenting and sorry that it won’t be me that “saves” the above-mentioned ‘suckers’ from their greed-based delusions and losses.