Why would anyone actually use solidcoin?

[turnstyle]

I don't get it... the whole point of crypto currency is that you'd don't havto trust anyone. So why would anyone use a currency with centralized control? We already have that with the dollar.

[oreo]

This is the first ive heard of it, any links?

[Fluttershy]

I don't mean to be rude, but if solidcoin had came first, people would be having this discussion about bitcoin. Besides, bitcoin traders created a central authority when they put their eggs in one gox-shaped basket.

[odysseus654]

If SolidCoin had come first then we wouldn't have had this decision at all, it wouldn't have gotten the kind of mindshare that BitCoin got at all.  It may have gotten popular for a little while, but probably would have quickly gotten in trouble and faded.  In many ways it's riding the coattails of BitCoin, trying to say "we're like BitCoin, only better!".

And if you haven't heard of SolidCoin, about half the threads in alt coin have been talking about it, I think it's been the favored piniata in these forums.  A couple "run away! run away!" threads have appeared in this forum as well.

[cereal7802]

I don't mean to be rude, but if solidcoin had came first, people would be having this discussion about bitcoin. Besides, bitcoin traders created a central authority when they put their eggs in one gox-shaped basket.

Don't see how it created a central authority. mtgox is a large exchange but they don't control the flow of coins. without their approval i can send any number of coins to anyone i want, or use tons of other exchanges. this hardly qualifies as a central authority for bitcoin.

[BTCurious]

To be honest, I've seen a lot of discussion and threads on solidcoin, and I still don't know either.

Well, of course for the creators it could be a good idea: create a new currency, mine a lot of it, advertise it so people want it, then sell everything for Bitcoins before the whole thing crashes.
But as for actual use, it doesn't seem to make any sense.

Usually I just stay far away from the threads and discussions. They all seem to be flamewars anyway.

[Gabi]

No reason to use it.

A lot to NOT use it

[XCoiner]

Not using it (yet).

[Fiyasko]

Dont touch it, The main creator of it bans anyone whom asks 'sensitive' questions about SC's

[johnj]

1) Closed source - only one guy knows what it's doing
2) Centralized - all transactions run through this one guys 'super node'
3) Premine - 13 million+ Premined coins that this one guy holds
4) Block rewards - guy decided to reduce the block reward from 32 -> 5 (while the chain was live and being mined), just because he felt like it
5) Censorship - ask the guy about any of the above, he'll ban you.

Nothing like Bitcoin.

If SC had come first, it would have been laughed at as a joke - just like it is now.

[cruikshank]

1) Closed source - only one guy knows what it's doing
2) Centralized - all transactions run through this one guys 'super node'
3) Premine - 13 million+ Premined coins that this one guy holds
4) Block rewards - guy decided to reduce the block reward from 32 -> 5 (while the chain was live and being mined), just because he felt like it
5) Censorship - ask the guy about any of the above, he'll ban you.

Nothing like Bitcoin.

If SC had come first, it would have been laughed at as a joke - just like it is now.

6) Creator has/could add a killswitch to the entire thing

[DeathAndTaxes]

1) Closed source - only one guy knows what it's doing
2) Centralized - all transactions run through this one guys 'super node'
3) Premine - 13 million+ Premined coins that this one guy holds
4) Block rewards - guy decided to reduce the block reward from 32 -> 5 (while the chain was live and being mined), just because he felt like it
5) Censorship - ask the guy about any of the above, he'll ban you.

Nothing like Bitcoin.

If SC had come first, it would have been laughed at as a joke - just like it is now.

6) Creator has/could add a killswitch to the entire thing

Throw in:
7) A 10% "kings tax" on all coins mined going to the "one guy" also known as the glorious leader.

[johnj]

oh god, I can't keep up with all the fail haha.

thanks for the additions.

[TheBible]

The question is academic.  No one uses solidcoin.