While not a direct coin scam.  I can say I was scammed by Micro-BTC.com.  A cloud mining company.  Seemed legit.  Professional looking site, annoying rules ect.  Then one day, boom, money gone, and account deleted.  Just hoping I can save another person from doing the same.  So post it anywhere you like.

I have been here way before there was much in profits from Bitcoin or any Altcoins.  I always did prefer Altcoins though, as opposed to BTC.  Joined originally for knowledge.  And the ability to help assist in any way possible to better the Crypto Community.  Being able to talk with early developers in bringing out their coins.   Back about 4-5 years ago, I even created one of the first Altcoin stores, selling video games and pre-paid cards at a loss, just to give a place where people could have a place to spend their Bottlecaps and LTC.  And now I am helping some developers with another great project.  AC3   https://ac3.io/.

Curecoin and Gridcoin are my 2 favorites in regards to Crypto's for a cause.  And the only 2 that really have any sort of business plan to actually help.   As you earn coins (mine) for running programs on your computer that help research things like finding cure for cancer and other diseases.   Not gimmicky like so many others I see.

I have played with faucets in the past.  Haven't run into any scams yet.  Then again, I have never needed to download anything before. 

Most work on a simple principle.  Which is that it's not worth your time and effort.  Places like Google ads may pay $0.005 for every view of an ad on a webpage (I don't know the exact number).  And the owners of the faucet page are giving you a small part of that like $0.001.  So you watch a few, and earn a few satoshis ect and think, that is pretty cool, you are making money for doing nothing.  Until you notice you dedicated 2-3 hours of your time, and managed to earn $0.02 for your efforts. 

I would say almost never go into Cloud mining, unless you absolutely know they are legit.  I have been burned far to many times by VERY legit looking Cloud mining sites.  100% of the time I have lost all the money I put into Cloud mining.  And those were all from places I assumed were legit.

Making your own mining farm is not really a good idea either, as mining takes alot of computing know how.  I have mined quite a few years so can speak from experience.  If you have to ask if you should, then you shouldn't go into it.  That and for the most part mining (unless you have free electricity) is pretty much do it to break event, and hope for a profit in the end of it all. 

The best thing to do is to purchase the coins and trade them if you want to make decent money in Cryptocurrency.  You can lose as well, so don't trade more than you are able to lose.   

Not at all related to the Marine-Chain, but the name reminded me of Marine Coin, which was itself a disaster.  They planned on using the profits of the coin to purchase an island, and create their own crypto backed nation.   

You can do this.  The biggest problem is if your employee would want to accept an altcoin as payment, as usually all coins need to be converted into Fiat anyways in order to pay for most things, and the trading could involve some waiting, or loss in pay if a coin falls in price.  Also the problem with needing to pay taxes on the cash you pull out, assuming you will be paying proper taxes to begin with, would mean the employee would be double taxed if they were paid in Cryptocurrency.  It will work better in the future assuming a few cryptocurrencies take off, and could be used to pay almost everything. 

No it won't kill it, but I could see the 2 merging, and having traditional banks using blockchain technology.  There are to many problems that the blockchain has to limit it's success.  A huge one being hackers/scammers. 

The majority of people will choose the safety net the banks offer over any benefits switching over to a blockchain will give.

Some coins, especially when first launching, are on very few exchanges.  Best place it to check their announcement thread, as they will almost always show off whenever they make it on any exchange, no matter how small.   

The true answer is No it will never "end". 

Now can the constant state of people constantly buying more and more miners and have them make money continue.  No.  Mining is pretty much big business now, which is what the original idea was against.  But as mining becomes less profitable, and more people stop mining, the difficulty drops, meaning more profitability for the people remaining, which then brings in more people again.  Its cyclical. 

No, the exact opposite actually. 

All depends on your way of thinking.  If you are thinking in terms of what coin to hold onto, sure a lot of people might like the upwards growth of BTC. 

In terms of an actual currency.  Not a chance.  Some stores that were accepting BTC as a type of payment have even stopped accepting BTC, as the transaction fees are to high when the price is jumping like this.  It will be time for some larger stable alt coin to take the reigns and make it's move into the world of commerce. 

Example :  http://ca.ign.com/articles/2017/12/07/steam-is-no-longer-accepting-bitcoin

This update is HUGE. Basically doubles the potential market 

Email their team directly team@ac3.io 

Yeah I have been burned twice now by cloud mining schemes.  Both seemed legit, both took my money.  Oh well at least the second time I went in knowing it might fail, and didn't put to much in.

That said, I am now very leary of any cloud mining services.  And I believe when they say 99% scam. 

Lol, that being said I am still interested in looking at Genesis.  I mine and 'cough' attempt to cloud mine more for the fun and principle in it than the idea of making any money off it.  Always nice though when you do get to take something out though.   

The reason for the false positives when dealing with Mining software, is because of all the people that have created Malware in the past which secretly turns peoples computers into mining machines by installing mining software in the background.  As a result, when an Anti-virus or Anti-Malware program sees mining software it throws a code, and its up to you to decide if it is supposed to be there or not. 

But in any case, always verify your sources.

Yes it can happen to a smallish amount of people, but it is virtually impossible for the majority of the younger generation to be living the millionaire life and all not be working.

Because Fiat currency is directly tied to the country, and the economy.  Cryptocoins are universal and not tied to anything.  Also Cryptocurrencies are still the wild west.  Far to many people out hacking/stealing ect.  And Wallets not as easy to use as handing someone a $20 bill, and 1 wallet update gone wrong, or every unbacked up wallet that occurs on a device that crashes add a pile of things that will cause the majority from accepting it.

As far as things like Anonymity and taxation.  Those are far easier to control with a cryptocurrency.  Fiat is fairly untraceable.  So I don't buy those as being reasons at all.

Same reason people like listening to oldies radio stations ect.  Nostalgia sells.  

As I wrote above.  Cryptsy wasn't so much about an exchange "closing" as it was about a person/company stealing a majority of the coins.  

Imagine if that happened now, and imaging if it was an exchange like Bittrex.  Millions of dollars a day in trades.  All of a sudden if Bittrex claimed their wallet was hacked, and it closed and held/kept all coins in the exchange.  All of a sudden you would have coins with a $100 million Market cap that have say 70% of the coins sitting in a theif's wallet.    

The community could carry on like nothing happened, and knowing they are pouring $70 million into the theif's pocket to buyback the 70% coins that are stolen, or everyone could walk away stunned.   Also people like myself (Yes I was dumb/naive at the time) having a few thousand dollars worth of coins suddenly vanish in an instant,  just walk away from it all, killing any chance of having a community left to rebuild itself.   I pretty much left anything crypto related for about a year.

Also, the publicity of something of that magnitude pretty much crushed the rest of altcoin market at that point.  It was pretty much Altcoin's version of Black Monday.  


Edit:  Also to add.  Decentralized means that no one is in control of the coin, It's running on its own.  So when someone steals a decentralized coin, like if someone hacked your wallet and stole your coins, you don't have anyone to go back to in order to get things reversed.  Not even the developer.  Only option you (IE the developer) really has is the option of destroying part of the blockchain, or all of it, and doing a Hardfork, and seeing if it is accepted.  This has been done in the past to a fix/revive a few coins that were 51% attacked but its rare.  And with something like Cryptsy, there isn't a certain block that you can wipe to in order to fix anything,  As people were feeding that coin to the exchange over the lifetime of the coin itself.    


As for it happening in the future.  There really is no guarantee it can't happen again.  There is probably a good chance it WILL happen again.  This is why all of us that have been in crypto for years always tell others to never leave coins on an exchange wallet no matter how big the exchange is, or if you do, to not to leave more than you are willing to lose.