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Title: 2017 award for best altcoin scam - Come from Beyond of IOTA Post by: realr0ach on January 20, 2018, 07:05:46 AM https://i.imgur.com/5lGY3S0.jpg
Why does Come from Beyond win? Every single digital currency created is either designed to centralize, doesn't remove middlemen, or fails in some other manner. Yes, all 1400 coins released including bitcoin are essentially useless (aka scams). So the 2017 excellence in scamming award is for the coin that comes closest to accomplishing something while still being a completely useless scam in practice. (well, even if it did work, he would of had to distribute it in a non-IPO manner for it to not be a scam, but that's besides the point since it doesn't work anyway). As for why Come from Beyond wins, read below: Bitcoin will ALWAYS be a higher risk asset than metals and fail to compete as the base of Exter's Pyramid due to having built-in middlemen and not removing counter party risk. It's semantics to even claim bitcoin currently isn't a federated chain already. It's the equivalent of something like a 2/3, 3/5, or 4/7 multisig for years. A permissioned ledger doesn't require a 1/1 sig requirement; it's a permissioned ledger already. If you really want to get technical, everyone would likely have to process their own transactions for it not to be a permissioned ledger like in IOTA, but DAGs and IOTA don't actually work without artificial convergence, so we won't go there. But until you can create a functional version of that model where everyone processes their own transactions (not possible), you have failed and it's a permissioned ledger. Everything in this sector is nothing more than jacking off while creating centralized Rube Goldberg machines, federated chains, and permissioned ledgers. IOTA was actually on the right track probably more than any of them so far just because it actually does seem to remove the usurious middlemen factor, but DAGs don't work. And the second you incentivize any type of economy of scale in transaction validators, you've just created a usury system that mirrors the ones that already existed in the real world before bitcoin. Physical commodity money like silver and gold removes the middlemen parasites. Cryptocurrency doesn't - they're BUILT IN. Title: Re: 2017 award for best altcoin scam - Come from Beyond of IOTA Post by: infofront on January 20, 2018, 07:41:31 AM Where to begin? I'd like to start with BitConnect. It was clearly made to be nothing more than a Ponzi scheme from the beginning.
That's not unusual in the altcoin space. What was unusual was the magnitude. It was like the Bernie Madoff of shitcoins, with a ~$2 billion market cap. Also, this thread needs some Spoetnik. Title: Re: 2017 award for best altcoin scam - Come from Beyond of IOTA Post by: adaseb on January 20, 2018, 08:21:46 AM Pretty sure that will be
Bitconnect Really crazy how it managed to reach a huge market cap as high as it did. I also don't agree with this one but I think some will say "BitcoinCash" Title: Re: 2017 award for best altcoin scam - Come from Beyond of IOTA Post by: reoxyde on January 20, 2018, 08:37:30 AM Bitconnect is the paramount of scam scheme. People are losing $30-40k because of Bitconnect and these scammers just re-brand it to BitconnectX to scam more people. Unbelievable, you still mention Call from Beyond as the winner
Title: Re: 2017 award for best altcoin scam - Come from Beyond of IOTA Post by: f69 on January 20, 2018, 09:16:45 AM In 2017 the winner is bitconnect.
Title: Re: 2017 award for best altcoin scam - Come from Beyond of IOTA Post by: zabisux on January 20, 2018, 09:21:46 AM Its winner is already awarded, bitconnect. Yes I understand people tend to say iota is scammy as well (I don't agree but I have bad tinglings) Bitconnect basically killed itself so its clear as sky scam..
Title: Re: 2017 award for best altcoin scam - Come from Beyond of IOTA Post by: andor.gellenhidi on January 20, 2018, 09:44:48 AM I would not say that the IOTA project is a scam, because I think we will see in the near future how much this project will be in demand. All the same, I think that this project is also quite serious prospects, so I would not blame it
Title: Re: 2017 award for best altcoin scam - Come from Beyond of IOTA Post by: realr0ach on January 20, 2018, 10:16:51 AM People, technically bitconnect would be the worst scam, not the best scam. I awarded IOTA best scam because it's the coin that comes closest to removing middlemen while still being a scam since it's not possible to create a decentralized digital currency in the first place. In order to remove middlemen, everyone would have to process their own transactions instead of outsourcing them to a 3rd party miner or node (like bitcoin or 1000 other coins).
The transaction validators are designed to centralize in all of these coins, turning them all into federated chains or permissioned ledgers. So by attempting to force people to process their own transactions (like original PoW mail) you have at least attempted to address that problem. You then also have the issue that since your digital craptocurrency runs on top of the govt's own infrastructure and other 3rd parties power lines and everything else, there is no removing middlemen and counter party risk from cryptocurrency ever. Title: Re: 2017 award for best altcoin scam - Come from Beyond of IOTA Post by: pearlsome on January 20, 2018, 10:55:08 AM Well, I do not agree with this.
First, many want to separate bitcoin from the blockchain. From the fact that it can hold back. Then it will be real currency not dependent on miners. Secondly, Japan wants to create a trust fund to stabilize value. It will be in real money. Also futures that are sold so well are provided with real money. This is just the beginning. Then everything will be even more stable. Title: Re: 2017 award for best altcoin scam - Come from Beyond of IOTA Post by: coinminter22 on January 20, 2018, 11:08:49 AM "Why does Come from Beyond win? Every single digital currency created is either designed to centralize, doesn't remove middlemen, or fails in some other manner. Yes, all 1400 coins released including bitcoin are essentially useless (aka scams). So the 2017 excellence in scamming award is for the coin that comes closest to accomplishing something while still being a completely useless scam in practice. (well, even if it did work, he would of had to distribute it in a non-IPO manner for it to not be a scam, but that's besides the point since it doesn't work anyway)."
... I really have no idea what you said |
