Libertycoin and Dreamcoin are both scams

[cryptobuddy]

Important ANN:

We received news from the Zerocoin Team itself that they have abandoned the zerocoin project. Zerocoin is now a dead project. We had started implementing their library to Libertycoin hoping to implement a fully functional and stable version when they released more updates. Unfortunately, there is nothing we can do now. We will start removing the zerocoin library that we added to the code, and we will consult with our developer if there are other anonymizers we can deploy in the future. For the time being we will realease an update removing zerocoin from our code, and Libertycoin will remain as a great X11 100% proof of stake coin with 16.5 Million units.

About implementing the Zerocash
We will certainly study it, and if we consider it stable we will do it. They have already abandoned one project, so we don't want to take the risk of implementing something unstable that could be abandoned in the future. We paid a high price with zerocoin.

Now Libertycoin dev decided to remove the Zerocoin code from the Libertycoin. Then Libertycoin will be same as other X11 POW/POS coin, e.g. Badgercoin.

[cryptobuddy]

Useful thread, thanks for making it. Sad thing is, it probably won't matter. As I am writing this, Dreamcoin is going up in value even. People don't seem to care about facts, specs, or any of the stuff that should matter with a coin. They just care if it makes them money, right now, immediately ...  if a coin is talked about, chatted about in the trollboxes, it moves up. It can be a piece of junk, with 'features' that don't exist, and can't exist... doesn't matter.

I expect many of the people buying dreamcoin/libertycoin don't even know what zerocoin even is. But it sounds fancy, whatever it is...

Right.... That is why so many scammers and scam coins appear!  

Eventually time will tell which coins are scam coins. However, instead of waiting, we should study more before making any investment.  

I really appreciate r0ach's effort.

[flowerpots]

I also tried to start a discussion about this in the thread, but all I got was "shut up troll" / "you just want to buy them cheap" and more comments like that.

Even if Dreamcoin is not a scam, I don't have the faith the Dev can really implement Zerocoin. I asked him some questions about that through PM, but it looks like he doesn't like to answer complicated questions.

[poornamelessme]

I also tried to start a discussion about this in the thread, but all I got was "shut up troll" / "you just want to buy them cheap" and more comments like that.

Even if Dreamcoin is not a scam, I don't have the faith the Dev can really implement Zerocoin. I asked him some questions about that through PM, but it looks like he doesn't like to answer complicated questions.

I generally dislike using the term scam unless it's completely obvious. It is possible that both coins had plans to implement zerocoin and didn't realize that it wouldn't so easy. And since zerocoin has been discontinued by the original devs, I really wonder how dreamcoin could possibly even say they can pull it off.

At least liberty coin has backtracked and is removing the zerocoin references.

But as I mentioned before, it probably doesn't matter. Trolls and fud is so rampant here, that any negative comments or critical thinking sometimes gets misconstrued as trolling. It's assumed everyone has an ulterior motive, so if you are saying something negative, you must want the coin cheap for yourself.

It'll happen in a forum like this with little to no moderation. That's what occurs when trolls run rampant in the streets... everyone begins to look like a troll to you. And there is the simple fact that coinholders don't want you to lower the value of their coin, so they'll overlook neg comments/try to dismiss them -- human nature.

[r0ach]

I generally dislike using the term scam unless it's completely obvious.

The problem is, they put the word in the title of their coin release.  When you go and read through the coin description, it makes no mention of "oh, we might have zerocoin 2 years from now if it actually works".  Their coin description implies that's it's already in there.  All the random idiots on the forum just assumed the coin had it already and started to pump the coin not even knowing what Zerocoin is.

[poornamelessme]

I generally dislike using the term scam unless it's completely obvious.

The problem is, they put the word in the title of their coin release.  When you go and read through the coin description, it makes no mention of "oh, we might have zerocoin 2 years from now if it actually works".  Their coin description implies that's it's already in there.  All the random idiots on the forum just assumed the coin had it already and started to pump the coin not even knowing what Zerocoin is.

I may be wrong, or it was added in later, but I thought the Dreamcoin dev did mention it's a work in progress or something similar to that. Of course that does require people to read the entire ann thread, which I guess some people don't do here. It's also possible he just added that in later, after people got interested in the coin... or I am remembering wrong.

And yes, it's certainly on the shady side of things, although if the info is out there somewhere, I'm not sure I'd say it's an outright scam.