The Crypto Carnage of 2022 has seen $1 trillion dollars in digital money disappear.
This leads us to ask how Scientologist, Nation of Islam executive, and high profile anti-vaxxer Tony Muhammad’s for-profit Peacecoin multilevel marketing company is doing these days. Has the PEACECOIN cryptocurrency component failed along with 2,000+ other cryptocurrencies?
We begin by reminding readers that Tony Muhammad, who changed his name to Abdul Malik Sayyid Muhammad but still answers to the name of Tony, and his partners structured Peacecoin to have five parts:
- Peacecoin Inc. — A for-profit MLM sales organization which sells overpriced physical silver, gold, and platinum coins called “Peacecoins.” The goal at Peacecoin is the same as Amway or any other MLM, i.e. to have members recruit and build a downline of new members who, in turn, build their own downline ad infinitum.
- Monthly Auto-Billing: The Peacecoin MLM payment program is based upon the MLM members finding and recruiting new members to make monthly auto-billed purchases of physical Peacecoins. These purchases are how the MLM sellers make their monthly residual income from their downlines.
- Peacecoin Jewelry Inc. — A for profit company which sells Peacecoin jewelry. The CEO and Co-Founder of Peacecoin Jewelry is Houri Tartarian.
- PEACECOIN — A cryptocurrency consisting of 1.9 billion tokens. PEACECOIN is spelled in all caps. The only way to acquire PEACECOIN cryptocurrency is to join the for-profit MLM and purchase the physical Peacecoins. Tony Muhammad and his partner Armen Temurian opened Invexcoin exchange in Guadalajara, Mexico to sell PEACECOIN. In our previous article, we reported that Armen Temurian is the owner of the Invexcoin exchange. This information came from a lawsuit in which Tumerian is the defendant. The Ethereum blockchain contract address for PEACECOIN is: 0x09974B72E5514131Ca2aA032d77A54D9e364833f.
- The Hook: With each purchase of a physical metal coin the buyer is “gifted” PEACECOIN crypto. As an example, with the purchase of one $129.00 physical silver coin (1.13 ounces), the buyer is “gifted” 300 PEACECOIN tokens. There is no financial sense or logic in overpaying for silver or anything else. At this writing, a one ounce US Silver Eagle is selling at $36.95 online. The spot price for silver is $22.40. Why pay $129.00 for one Peacecoin silver coin? For $148.00 you could buy four US Silver Eagles which are legal US currency. From a numismatic perspective, US Silver Eagles are infinitely more desirable and collectible than Peacecoins.
On a side note, Peacecoin’s Hughford Muhammad claimed in a May 2021 YouTube video that silver prices would reach between $50 and $100 an ounce. This did not happen.
The activity for PEACECOIN appears to be as a dead as a Scientology Ideal Org. According to Etherscan.io, the last transfer of PEACECOIN occurred 302 days and 2 hours ago; this as of May 22, 2022 at 8:15 PM Los Angeles time.
The Ethplorer.io token chart shows a classic ER flatline. Peacecoin transfers flatlined in July 2021:
The bulk of the PEACECOIN transfers consisted of 1,516 transfers of 1,000 tokens each. These can be seen as the spikes in token chart above. These transfers occurred during Peacecoin’s March-July 2021 global launch program. In this period, new members paid anywhere between $300 – $360 for a membership fee. In exchange, they received two silver Peacecoins, 1,000 PEACECOIN tokens, and membership in the cryptocurrency academy. As shown by the token chart, membership purchases collapsed after this global launch program.
Etherscan further informs us:
- There are only 1,368 holders of PEACECOIN
- Only 2,299 transfers of PEACECOIN have occurred in 1 year and 4.3 months since inception:
PEACEOCOIN AS A ONE-OWNER MONOPOLY
Etherscan.io has not recorded any PEACECOIN transfers in ten months.
Why is this?
One reason is that PEACECOIN is a monopoly in which the largest single holder owns 99.0775% of all tokens (see graphic below). This party owns 1.882 billion of the 1.9 billion coins issued. This leaves only 17.5 million PEACECOIN tokens available for actual purchase or exchange:
In a May 2021 video, Tony Muhammad said he owned the 1.9 billion PEACECOIN and they were given to him as a gift to fund his work. Specifically, Tony Muhammad said Armen Temurian had coded PEACECOIN and then transferred the 1.9 billion coins to him.
Tony Muhammad cited Watkin Muhammad and Houri Tartarian in the video as being active in the founding of the PEACECOIN and Peacecoin ventures. Kenny Smith, an MLM trainer who goes by the name “Shark Shark,” was designated as the Master Distributor of Peacecoin.
After the 99.075% monopoly owner, whom we assume to be Tony Muhammad, there were 11 transfers of PEACECOIN above the 999,999 token level. The largest transfers were 1.325 million and 1.310 million tokens. We assume these transfers were incentives given in lieu of compensation to management as the tokens were transferred in 2019 during the startup phase and before the Invex exchange existed.
As noted, there were 1,516 transfers of 1,000 each during the global launch program of March-July 2021. Thereafter, the token chart shows no transfer activity. Peacecoin’s stated goal is to have 1 million members by 2024. However, the plateau appears to have happened in July 2021 at 1,500 members.
In our opinion, the weakness of the Peacecoin Inc. business model is that there is no value proposition in making monthly purchases of vastly overpriced precious metal coins in order to obtain a very small “gift” of a new and valueless cryptocurrency, the transfers of which ceased in July 2021.
Cryptocurrencies have to be transferred and used for payment to become viable and attain an actual financial value. This is why Bitcoin can be used to purchase almost anything. There are no known transactions using Peacecoin. Moreover, we were unable to find its actual value.
As opposed to buying metals to get crypto, the easier and smarter investment would be to simply buy an established cryptocurrency such as Bitcoin, Ethereum, Tether, Binance, etc. directly from an exchange.
Purchasing precious metal coins in order to be gifted crypto tokens makes no financial sense whatsoever. This is why Peacecoin Inc., as a coin dealer, is an unnecessary and money-wasting middleman.
The Bottom Line: There is no market for an MLM that sells overpriced silver, gold, and platinum coins in exchange for very small “gifts” of an obscure and essentially valueless new cryptocurrency. Tony Muhammad also failed to make a credible business case for any possible use of PEACECOIN crypto.
Peacecoin has inarguable links to the Church of Scientology and the Nation of Islam and this further reduces its potential market. In this promo piece, Tony Muhammad explicitly linked his nonprofit United in Peace Foundation (EIN 35-2623410) to his for-profit Peacecoin Inc.
The United in Peace Foundation website makes it clear that copies of Scientology’s Way to Happiness and the Nation of Islam’s Million Man March pledge are distributed at the Peace Rides organized by Tony Muhammad and Alfreddie Johnson:
Copies of The Way to Happiness booklet and the Million Man March pledge are made available at every Peace Ride and Festival and may also be requested through unitedinpeace.org. Additional materials for educators on The Way to Happiness are offered free-of-charge through thewaytohappiness.org.
Tony Muhammad is showing how MLM’s work: He is using affinity marketing to reach into the nonprofit sectors of Scientology and the Nation of Islam where he is well known and has long established personal relationships. We think the small size of these communities in Los Angeles explains why PEACECOIN plateaued at 1,368 holders.
What stood out to us is the fact that Scientologist Alfreddie Johnson did not appear anywhere to support Tony Muhammad’s Peacecoin. In our view, this is unusual as the two men have worked closely together for decades on many projects, but especially the United in Peace Foundation. None of the usual high profile Scientologists appeared in the Peacecoin promotional materials.
The mystery is how, and under what circumstances, Tony Muhammad hooked up with Armen Temurian and Houri Tartarian. We ask because the Nation of Islam is a self-proclaimed Black Separatist group and seeks to build Black-owned business to develop financial self-sufficiency within the Nation. Tony Muhammad navigated this in the Peacecoin mission statement:
Peacecoin aims to unite the masses and their intentions. It is here to bring all economies and ethnicities together. Peacecoin is a selfless project executed to help others. Being a complete paradigm shift in a peace movement world, Peacecoin will bind people as one.
This is a departure from Nation of Islam doctrine which deems the Black Man the superior race and Caucasians to be intrinsically evil. The Nation of Islam wants to live its separate existence apart from other races. Capitalism, however, inevitably finds a way to work together when there is money to be made.
The leadership of Peacecoin:
Top Row L-R: Elmer Duga Duga, Tamir Krasniansky, Tom Hazelton, Morris Hunter.
Bottom Row L-R: Tony Muhammad, Watkin Muhammad, Armen Temurian, Kenny Smith.
A Peacecoin online meeting was posted on YouTube and offers some interesting shop talk among Peacecoin members and management:
A PDF of the Excel spreadsheet shows the PEACECOIN transfers. We downloaded this as a CSV file from Etherscan.io. We post this document to support the numbers we cited in this article:
Categories: The Scientology Money Project