Stop making scamcoins FFS

[utclover]

Every day there is like 5 new scamcoins.

Don't invest in them so they stop making them.

[sgk]

The problem is, you can't prove a coin to be a scam coin until it really scams someone.

[jonn4y]

true, i think its about being able to spot a scam coin. i myself have fallen victim to a few scam coins and lost a fair bit of btc and hashing power / time in doing so.
i now try to do as much research as i can before i point my miners etc.

[alt19]

The question is why exchanges add new and new markets.
When they stop adding new coins every week, there will be no reason to make scams.

[sgk]

The question is why exchanges add new and new markets.
When they stop adding new coins every week, there will be no reason to make scams.

So they shouldn't add new coins even if they're legit?

How do they know what to add and what not to?

[Joshuar]

The problem is, you can't prove a coin to be a scam coin until it really scams someone.

You can actually. Just avoid coins with sketchy newbie devs and avoid IPO's without a TRUSTED escrow.

[From Above]

Make more coins. I need more money.

[sgk]

Make more coins. I need more money.

Insta-mine, then pump & dump?

[alt19]

The question is why exchanges add new and new markets.
When they stop adding new coins every week, there will be no reason to make scams.

So they shouldn't add new coins even if they're legit?

How do they know what to add and what not to?

Just not to add them so fast.
And payment votes is not a good criteria.

[sgk]

The question is why exchanges add new and new markets.
When they stop adding new coins every week, there will be no reason to make scams.

So they shouldn't add new coins even if they're legit?

How do they know what to add and what not to?

Just not to add them so fast.
And payment votes is not a good criteria.

Totally agree with you there. And paid voting should be strongly discouraged.

[From Above]

Make more coins. I need more money.

Insta-mine, then pump & dump?

Cryptocoins are all about the buying and the selling. more coins mean more opportunity.

we are all here for the money currency. why not make good money for u and ur family?

[r0ach]

nxt has many innovative features

NXT, just like every other IPO coin is nothing but a scam.  See my quote on that below:

Anything premined with an IPO over the span of 1 second usually has an abysmal market penetration defeating the whole purpose of cryptocurrency, or just results in a pyramid scheme to try and force the masses to enrich a handful of people.  This isn't why Bitcoin was created and seems like a blatant hijack of it to turn it into a get rich quick scheme.  If the proof of stake coin is mined over a long period, like Bitcoin is, then my stance on that is obviously different.

[From Above]

nxt has many innovative features

NXT, just like every other IPO coin is nothing but a scam.  See my quote on that below:

Anything premined with an IPO over the span of 1 second usually has an abysmal market penetration defeating the whole purpose of cryptocurrency, or just results in a pyramid scheme to try and force the masses to enrich a handful of people.  This isn't why Bitcoin was created and seems like a blatant hijack of it to turn it into a get rich quick scheme.  If the proof of stake coin is mined over a long period, like Bitcoin is, then my stance on that is obviously different.

bitcoin (oh "so so glorious pow"!) has one of the worst distributions of all cryptocurrencies and this is where discussion ends. what u are saying comes from the mouth of a hardcore hypocrite playing with "what is scam/unfair and what isnt". a joke for anyone with well functioning brain. thank u for ur post, best example for delusion.

[r0ach]

nxt has many innovative features

NXT, just like every other IPO coin is nothing but a scam.  See my quote on that below:

Anything premined with an IPO over the span of 1 second usually has an abysmal market penetration defeating the whole purpose of cryptocurrency, or just results in a pyramid scheme to try and force the masses to enrich a handful of people.  This isn't why Bitcoin was created and seems like a blatant hijack of it to turn it into a get rich quick scheme.  If the proof of stake coin is mined over a long period, like Bitcoin is, then my stance on that is obviously different.

bitcoin (oh "so so glorious pow"!) has worst distribution of all cryptocurrencies and this is where discussion ends. what u are saying comes from the mouth of a hardcore hypocrite playing with "what is scam/unfair and what isnt". a joke for anyone with well functioning brain. thank u for ur post, best example for delusion.

So you're going to say PoW distribution is bad, then advocate a system with even worse distribution?  IPO?  How is that a logical sentence?

The IPO issuer is also free to create as many fake accounts as he wants, send 10btc with all of them, but he's spending 0 because all the money comes back to him anyway.  NXT 70 initial accounts could have been just 2 guys.  Worst system ever.

[From Above]

nxt has many innovative features

NXT, just like every other IPO coin is nothing but a scam.  See my quote on that below:

Anything premined with an IPO over the span of 1 second usually has an abysmal market penetration defeating the whole purpose of cryptocurrency, or just results in a pyramid scheme to try and force the masses to enrich a handful of people.  This isn't why Bitcoin was created and seems like a blatant hijack of it to turn it into a get rich quick scheme.  If the proof of stake coin is mined over a long period, like Bitcoin is, then my stance on that is obviously different.

bitcoin (oh "so so glorious pow"!) has worst distribution of all cryptocurrencies and this is where discussion ends. what u are saying comes from the mouth of a hardcore hypocrite playing with "what is scam/unfair and what isnt". a joke for anyone with well functioning brain. thank u for ur post, best example for delusion.

So you're going to say PoW distribution is bad, then advocate a system with even worse distribution?  IPO?  How is that a logical sentence?

u do not have philosophical reasoning right now. i did not advocate anything. i falsified ur weak argument that "anything premined is inevitably resulting in a pyramid-like distribution". PoW is no guarantee for good distribution at all. 100% PoS coins can be distributed just as bad or well.  bitcoin is worst possible example to underpin argument for pow my friend.

[nutildah]

The problem is there's an influx of new suckers every day, some who have never traded anything online before.

Free advice to newbies. Here are some telltale signs of a scamcoin (and a corresponding example or two):

1. Price does nothing but go down, or never develops a consistent uptrend (longer than 1-2 weeks) (BURN, SHIBE, hundreds of others). Historical price analysis is the #1 indicator of a coin's future potential.

2. Community is overconfident and extremely vocal in a lazy or unintelligent manner, often resorting to tactics like incessantly chanting "BUY _X_COIN NOW!! I DID AND IT MADE ME RICH" in trollboxes and forums worldwide. My rule of thumb is, any time there are 4 or more people all chatting about the benefits of the same coin in a trollbox, that coin is likely a scamcoin. Why? Because good coins sell themselves and don't need cheerleading squads. Shitcoins do (XC, MON, XBC).

3. Was created by a dev with a reputation for scammy behavior (CLOAK, XLB, WC).

4. Has no innovative features, no convincing community support and no plans for real-world application (YC, BLU, arguably hundreds more).

5. Lots of other personal evidence suggesting a coin is a scamcoin, as researched and verified by yourself on bitcointalk and the rest of the web.

[ajareselde]

Every day there is like 5 new scamcoins.

Don't invest in them so they stop making them.

and what coin is there that isnt scamcoin ?!
it definetly is stupid that its even allowed to make sh*tcoins.
this is why you need regulations by 3rd parity, even if most of the comunity thinks bad of that form, calling it centralised.

[Joshuar]

The problem is there's an influx of new suckers every day, some who have never traded anything online before.

Free advice to newbies. Here are some telltale signs of a scamcoin (and a corresponding example or two):

1. Price does nothing but go down, or never develops a consistent uptrend (longer than 1-2 weeks) (BURN, SHIBE, hundreds of others). Historical price analysis is the #1 indicator of a coin's future potential.

2. Community is overconfident and extremely vocal in a lazy or unintelligent manner, often resorting to tactics like incessantly chanting "BUY _X_COIN NOW!! I DID AND IT MADE ME RICH" in trollboxes and forums worldwide. My rule of thumb is, any time there are 4 or more people all chatting about the benefits of the same coin in a trollbox, that coin is likely a scamcoin. Why? Because good coins sell themselves and don't need cheerleading squads. Shitcoins do (XC, MON, XBC).

3. Was created by a dev with a reputation for scammy behavior (CLOAK, XLB, WC).

4. Has no innovative features, no convincing community support and no plans for real-world application (YC, BLU, arguably hundreds more).

5. Lots of other personal evidence suggesting a coin is a scamcoin, as researched and verified by yourself on bitcointalk and the rest of the web.

+1, very true. Scamcoins are always pump and dumps, they can never maintain a constant price without falling downwards. That's what seperates real, innovative coins like Namecoin, Peercoin, Darkcoin etc, from scamcoins like XC, Whitecoin, Cinni and hundreds of others.

[crypt0xx]

Here is one way to prevent scam coins with the community, offer a bounty for coin inspection from newly made coins, to check if the code is legit or not

[Spoetnik]

The problem is, you can't prove a coin to be a scam coin until it really scams someone.

it is a scam if they have no intention of supporting it as a currency long term.

and how many are intended from the start to be pumped and dumped short term ?

the simplest proof is time and also if we had the ability to track who is putting them out.
when a coin cloner puts out 60 coins that vary slightly is he trying to start a currency or just
capitalizing on dumping the premine the first hour it hits Bittrex or MintPal etc ?

Most of you guys need to see what a REAL scam coin is.. you seem to think they are rare
when most are scams from the start !
Problem is you guys don't see that 1 guy adding 90 coins..