Is terracoin a scam?

[master-P]

I bought 6000 TRC when they were 250/1 btc, but the price keeps dropping now. I think there are only a few people who have tons of them and they play with the price  It's the same people all the time who promote them, there are only like 4 or 5 of them on the board. I think they own a huge chunk of the TRC. Is there a way to check the richest addresses like BTC? Because maybe then we can see how many they have. Maybe the developer is those guys and he premined it too?


Now I'm going to have to try to sell them for less than 1/3 the btc I paid before 

[simneo]

You shouldn't have invested in a currency you didn't research properly, I've tried googling the currency, and I can't say I found anything that seemed even the least bit official, consider selling them if even possible.

[Fiyasko]

*sigh* Most new crypto currencies (although its sad to admit) start out with the early adopters having a Major advantage, and are usually only created for the sole purpose of giving the creator "free" income.

Obvious exceptions are things like Litecoin, wich was desgined specifically for CPU's but was "broken" and people are now using GPU's on it.
Its usually a bad idea to stay away from the new cryptocurrencies
Solidcoin,Solidcoinv2,Microcash (All the same thing) was a GIANT RIPOFF of bitcoin, Where the starter began the chain with... What 10k PRE mined coins, And things like "if the wallet is inactive for greater than xyz period of time, the balance of the wallet will slowly be deducted and distributed evenly to other accounts based on thier total wallet amount"

AKA, Your money gets stolen if you dont touch it (like if you were to have a savings wallet in cold storage) and the creator of the cryptocurrency gets your money.

I personally feel that almost all new cyrptocurrencies is nothing more than people trying to create a way to cash in on what WAS the "early adopter" phase of bitcoins
In otherwords, I feel almost all are scams

[Gator-hex]

The only other currency worth investing in besides Bitcoin is LiteCoin

Always remember you're dealing with unregulated exchanges.

[brodiegardiner]

I wouldn't call it a scam but there is a fair amount of alt currencies which are complete rubbish and just there to make money , although terracoin does have some good features i just dont think it will be able to rival the true second best which is litecoin and perhaps ripple which will act as the platform to run between fiat.

[Wekkel]

Just have patience and be extra comfortable that you could lose it all. That's what the 10k pizza guy thought as well..... 

[bitrocket]

it could just be as the difficulty goes up more and more GPU and FGPA miners are switching from bitcoin to the secondary coins. This will probably drive the price down as more people enter the market but soon one of the alt coins will emerge as the contender to bitcoin (think gold vs silver)

[Fiyasko]

it could just be as the difficulty goes up more and more GPU and FGPA miners are switching from bitcoin to the secondary coins. This will probably drive the price down as more people enter the market but soon one of the alt coins will emerge as the contender to bitcoin (think gold vs silver)

The silver of bitcoins gold is already known, Its called LiteCoin.
Sorry, but were looking for platinum or copper now

[master-P]

*sigh* Most new crypto currencies (although its sad to admit) start out with the early adopters having a Major advantage, and are usually only created for the sole purpose of giving the creator "free" income.

Obvious exceptions are things like Litecoin, wich was desgined specifically for CPU's but was "broken" and people are now using GPU's on it.
Its usually a bad idea to stay away from the new cryptocurrencies
Solidcoin,Solidcoinv2,Microcash (All the same thing) was a GIANT RIPOFF of bitcoin, Where the starter began the chain with... What 10k PRE mined coins, And things like "if the wallet is inactive for greater than xyz period of time, the balance of the wallet will slowly be deducted and distributed evenly to other accounts based on thier total wallet amount"

AKA, Your money gets stolen if you dont touch it (like if you were to have a savings wallet in cold storage) and the creator of the cryptocurrency gets your money.

I personally feel that almost all new cyrptocurrencies is nothing more than people trying to create a way to cash in on what WAS the "early adopter" phase of bitcoins
In otherwords, I feel almost all are scams

You are right. I learned my lesson. Good thing I only spent a tenth of my BTC on it  Won't be surprised if TRC drops to half the price it is now overnight, so I'm just selling it for BTC and cutting my losses.