SolidCoin is a Scam

[thomas41546]

SolidCoin is an alternative "decentralized" digital currency.
It is being promoted as a "Secure" alternative to Bitcoin, when in reality, the converse is true.

SolidCoin:

• Closed Source (You have idea if safe code is being ran)
• 5% from every block found goes to a hard-coded account (tax)
• It has remote shutdown capabilities (Developer can control your client)

Since, the software can be remotely shut down, it is not decentralized---ultimately, the developer of SolidCoin has 100% control over the client.

[thomas41546]

I also forgot to mention, that I am referring to version 2+ of SolidCoin.

[odysseus654]

"Version 2+"

Hey, for all you know, SolidCoin 3.0 is gonna be the one that does everything so perfectly that BitCoin is considered the scam.

Very unlikely considering the vitriol that's coming out from that direction, but you never know...

[thomas41546]

True. But, for the purpose of this post, I am referring to the version 2.x of SolidCoin. The "+" operator is a bit ambiguous, but i'm sure you can infer the intended meaning.

[GoldenBoar]

I read a thread about that the other day, and the coins were being generated every 6 seconds despite the diffuclty rising. It looked like a scam to me. I think I'll loook that thread back up, it was pretty amusing.

[ultima]

Why use any other stuff?

[julz]

come now - scam is a bit strong..   I'd describe it as a rickety patchwork of a system peddled by an incompetent egotistical leech who makes 'very misleading' statements.  There is a slight possibility that he actually believes his own marketing.

[Gabi]

If

    Closed Source (You have idea if safe code is being ran)
    5% from every block found goes to a hard-coded account (tax)
    It has remote shutdown capabilities (Developer can control your client)

Is true then well yes, it's a scam

[odysseus654]

Don't we have a rather lengthy thread on this in a different forum already that we have to start replicating it word-for-word here?

[johnj]

Don't we have a rather lengthy thread on this in a different forum already that we have to start replicating it word-for-word here?

The newbies need to know too!  As new people are often the most uninformed, they're the most likely to believe (or not know why NOT to believe) SC's claims.

Yes, I agree that SolidCoin is a scam from the ground up.

[lonestar108]

SolidCoin is an alternative "decentralized" digital currency.
It is being promoted as a "Secure" alternative to Bitcoin, when in reality, the converse is true.

SolidCoin:

• Closed Source (You have idea if safe code is being ran)
• 5% from every block found goes to a hard-coded account (tax)
• It has remote shutdown capabilities (Developer can control your client)

Since, the software can be remotely shut down, it is not decentralized---ultimately, the developer of SolidCoin has 100% control over the client.

no thank you

[Bit Ghost]

Oh c'mon now, SolidCoin is just "growing". Anyone who gets in now is an "early adopter" one more people start using it it will gain "legitimacy." I mean if you put SolidCoin on a log graph you can see it's going straight "up." There's no way this could be a "scam."

Oh wait, it's a scam. 

[RunescapeSeller]

thanks

[mr chong]

It is best to stick to those that have been around for a while as there will end up being a long list of scams as people try to get in on the ground floor but will end up being the bag holders.

[Bitmetal]

I solo mined SC for 4 days on a 2+ Gh rig, and didn't hit a single block when the calculator said I should hit every 8-9 hours. I had a strong feeling my hashes were going into someone else's pocket.

[tinman951]

Norton doesn't like solid coin.
I downloaded the basic client/install and Norton AntiVirus said it was bad and automatically deleted it for me.  If Norton doesn't even give me a choice there must be something wrong with it.

[Mr. Piglet]

Norton doesn't like solid coin.
I downloaded the basic client/install and Norton AntiVirus said it was bad and automatically deleted it for me.  If Norton doesn't even give me a choice there must be something wrong with it.

There's also people installing without consent on computers they infect mining software (and the client, of course) so they can use their CPU/GPU to mine without their knowledge... because of those infections, anti-virus tend to flag crypto-currency miners as malware... Same thing happened to me for bitcoins (Guiminer, which is not malware at all. Although maybe bitcoin client was popular enough to get whitelisted by the antivirus makers?)

[RADEONHD]

wtf is "solidcoin" ?

[tinman951]

wtf is "solidcoin" ?

http://solidcoin.info/

It is another cryptocurrency.  Like namecoin, bitcoin, ***coin and so on.

The operator of solid coin (SC) says that the way of the bitcoin is collapsing and that SC is what will replace it.

[johnj]

wtf is "solidcoin" ?

http://solidcoin.info/

It is another cryptocurrency.  Like namecoin, bitcoin, ***coin and so on.

The operator of solid coin (SC) says that the way of the bitcoin is collapsing and that SC is what will replace it.

Which is kinda funny, seeing as how CryptoX dropped them after they realized how SC is fundamentally different (centralized) than BTC

https://bitcointalk.org/index.php?topic=48226.0

Edit: It also further discredits SC that one of the leads of CryptoX was put in the "About" of SC -WITHOUT- his permission.