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Author Topic: Why is Microcash a scam?  (Read 5465 times)
i_rape_bitcoins
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May 11, 2012, 10:06:39 PM
 #1

Note topic. No trolling.

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i_rape_bitcoins
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May 11, 2012, 10:29:00 PM
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I'll play along with you Coinhunter
I'm legitimately interested in why you think anyone who disagrees with Microcash being a scam is Coinhunter. Please, I'm dying to hear.

The answer:

It is a scam because no matter how you slice it, dice it and spin it, it's main function is to enrich the developer at expense of the people who use it.

That's why.

~BCX~
Thanks for the concise response, but can any of this be backed up and not just be FUD? And if so, does this relate to your answer?

~I_RAPE_BITCOINS~
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May 11, 2012, 10:41:59 PM
 #3

Reasons not to use Microcash (as I recall them):

1)  The creator is an immature, insecure, greedy little fuck.  He's already created multiple failed versions of Solidcoin which ripped directly from the Bitcoin source code without giving credit to it as instructed by the MIT license.

2.)  Development team has consistently claimed that their currencies are decentralized when they aren't.  In the past, they would not publish the code as open-sourced.  When you ask them specific questions about the technical aspects of Solidcoin/Microcash, they respond not with an answer, but rather by 1) insulting you or 2) insulting Bitcoin.  

3.)  I did the math in a previous post -- Coinhunter had about 1/8 of the coins in the entire network based upon the amount of money that he stated he had invested in it.  How's that for decentralization?

4.)  There's really so much more I could write, but I don't want to look up any specific posts as it would be a waste of my time.

Seriously, if you use MicroCash, you deserve to have every bit of your investment stolen.  Every Solidcoin version to date has been pumped and dumped to hell, this version will be no different.  

One definition of insanity is doing the same thing over and over and expecting different results.

Coinhunter is the reason we have abortion.

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May 11, 2012, 10:43:41 PM
 #4

I'm legitimately interested in why you think anyone who disagrees with Microcash being a scam is Coinhunter. Please, I'm dying to hear.

When enraged, you made the same grammatical errors and used the same insulting language the Coinhunter account used. A telling lapse, but not proof.

Purportedly Microcash will have mechanisms built in to enrich the largest SoiledCoin accounts (currently controlled by Coinhunter) at the expense of others. Of course, it does not yet exist so any discussion of what it is would be a waste of time. If Microcash broke cleaning from the SoiledCoin chain, it would cease to be a scam. Then we would have to wait until it was implemented and the source released before passing judgement.

As is, Microcash is just a vehicle to preserve and extend the ill gotten gains of SoiledCoin and it's tyrant nodes.

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i_rape_bitcoins
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May 11, 2012, 11:00:02 PM
 #5

Reasons not to use Microcash (as I recall them):

1)  The creator is an immature, insecure, greedy little fuck.  He's already created multiple failed versions of Solidcoin which ripped directly from the Bitcoin source code without giving credit to it as instructed by the MIT license.

2.)  Development team has consistently claimed that their currencies are decentralized when they aren't.  In the past, they would not publish the code as open-sourced.  When you ask them specific questions about the technical aspects of Solidcoin/Microcash, they respond not with an answer, but rather by 1) insulting you or 2) insulting Bitcoin.  

3.)  I did the math in a previous post -- Coinhunter had about 1/8 of the coins in the entire network based upon the amount of money that he stated he had invested in it.  How's that for decentralization?

4.)  There's really so much more I could write, but I don't want to look up any specific posts as it would be a waste of my time.

Seriously, if you use MicroCash, you deserve to have every bit of your investment stolen.  Every Solidcoin version to date has been pumped and dumped to hell, this version will be no different.  

One definition of insanity is doing the same thing over and over and expecting different results.

Coinhunter is the reason we have abortion.

I asked why Microcash is a scam. 1, 2, 3, 4 are not valid reasons.

3.)  I did the math in a previous post -- Coinhunter had about 1/8 of the coins in the entire network based upon the amount of money that he stated he had invested in it.  How's that for decentralization?
How does having any amount of coins relate to the decentralization of the network? Mt. Gox has a large percentage of Bitcoins in their wallets, you don't see people complaining how that harms the security of the Bitcoin network.

2.)  Development team has consistently claimed that their currencies are decentralized when they aren't.  In the past, they would not publish the code as open-sourced.  When you ask them specific questions about the technical aspects of Solidcoin/Microcash, they respond not with an answer, but rather by 1) insulting you or 2) insulting Bitcoin.  
I believe the source code is freely available on their website. Although it was a concern in the past, it is not one right now.

1)  The creator is an immature, insecure, greedy little fuck.  He's already created multiple failed versions of Solidcoin which ripped directly from the Bitcoin source code without giving credit to it as instructed by the MIT license.
These versions are iterations of the ongoing development of SolidCoin. They are not separate entities from each other, just like new Bitcoin releases.

What defines a version as 'failed'? Having no users running the specific version? I'm sure there are older Bitcoin versions which have have zero users.

Okay I agree with you on the MIT license. Cheesy

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May 11, 2012, 11:09:10 PM
 #6

I'm legitimately interested in why you think anyone who disagrees with Microcash being a scam is Coinhunter. Please, I'm dying to hear.

When enraged, you made the same grammatical errors and used the same insulting language the Coinhunter account used. A telling lapse, but not proof.

Purportedly Microcash will have mechanisms built in to enrich the largest SoiledCoin accounts (currently controlled by Coinhunter) at the expense of others. Of course, it does not yet exist so any discussion of what it is would be a waste of time. If Microcash broke cleaning from the SoiledCoin chain, it would cease to be a scam. Then we would have to wait until it was implemented and the source released before passing judgement.

As is, Microcash is just a vehicle to preserve and extend the ill gotten gains of SoiledCoin and it's tyrant nodes.
That's the most assinine argument I've ever heard.

Grammatical errors? Are you sure those instances of my 'grammatical errors' were not me trolling, just like others in the same topic? It's shit hard to get something through some of your skulls it's sometimes not worth the effort to respond coherently.

The usage of "purportedly" means there is lack of proof of the observations following it, and usually signifies the presence of FUD nearby. I'll be willing to talk to you once Microcash is released.

~I_RAPE_BITCOINS~
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May 11, 2012, 11:11:24 PM
 #7

Reasons not to use Microcash (as I recall them):

1)  The creator is an immature, insecure, greedy little fuck.  He's already created multiple failed versions of Solidcoin which ripped directly from the Bitcoin source code without giving credit to it as instructed by the MIT license.

2.)  Development team has consistently claimed that their currencies are decentralized when they aren't.  In the past, they would not publish the code as open-sourced.  When you ask them specific questions about the technical aspects of Solidcoin/Microcash, they respond not with an answer, but rather by 1) insulting you or 2) insulting Bitcoin.  

3.)  I did the math in a previous post -- Coinhunter had about 1/8 of the coins in the entire network based upon the amount of money that he stated he had invested in it.  How's that for decentralization?

4.)  There's really so much more I could write, but I don't want to look up any specific posts as it would be a waste of my time.

Seriously, if you use MicroCash, you deserve to have every bit of your investment stolen.  Every Solidcoin version to date has been pumped and dumped to hell, this version will be no different.  

One definition of insanity is doing the same thing over and over and expecting different results.

Coinhunter is the reason we have abortion.

I asked why Microcash is a scam. 1, 2, 3, 4 are not valid reasons.

3.)  I did the math in a previous post -- Coinhunter had about 1/8 of the coins in the entire network based upon the amount of money that he stated he had invested in it.  How's that for decentralization?
How does having any amount of coins relate to the decentralization of the network? Mt. Gox has a large percentage of Bitcoins in their wallets, you don't see people complaining how that harms the security of the Bitcoin network.

2.)  Development team has consistently claimed that their currencies are decentralized when they aren't.  In the past, they would not publish the code as open-sourced.  When you ask them specific questions about the technical aspects of Solidcoin/Microcash, they respond not with an answer, but rather by 1) insulting you or 2) insulting Bitcoin.  
I believe the source code is freely available on their website. Although it was a concern in the past, it is not one right now.

1)  The creator is an immature, insecure, greedy little fuck.  He's already created multiple failed versions of Solidcoin which ripped directly from the Bitcoin source code without giving credit to it as instructed by the MIT license.
These versions are iterations of the ongoing development of SolidCoin. They are not separate entities from each other, just like new Bitcoin releases.

What defines a version as 'failed'? Having no users running the specific version? I'm sure there are older Bitcoin versions which have have zero users.

Okay I agree with you on the MIT license. Cheesy


The source code for the original Solidcoin v2.0 was never released. Only v2.04 was released.

Microcash is still a mystery

Trying to claim the time and time over proven scam history of the developer is unrelated to the platform is.....so Coinhunter like.

~BCX~

Sorry I wasn't aware of that. I don't think the codebase of 2.04 is far off from the major release of 2.0. I'm not going to argue with that. Wink

~I_RAPE_BITCOINS~
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May 11, 2012, 11:21:54 PM
 #8

Reasons not to use Microcash (as I recall them):

1)  The creator is an immature, insecure, greedy little fuck.  He's already created multiple failed versions of Solidcoin which ripped directly from the Bitcoin source code without giving credit to it as instructed by the MIT license.

2.)  Development team has consistently claimed that their currencies are decentralized when they aren't.  In the past, they would not publish the code as open-sourced.  When you ask them specific questions about the technical aspects of Solidcoin/Microcash, they respond not with an answer, but rather by 1) insulting you or 2) insulting Bitcoin.  

3.)  I did the math in a previous post -- Coinhunter had about 1/8 of the coins in the entire network based upon the amount of money that he stated he had invested in it.  How's that for decentralization?

4.)  There's really so much more I could write, but I don't want to look up any specific posts as it would be a waste of my time.

Seriously, if you use MicroCash, you deserve to have every bit of your investment stolen.  Every Solidcoin version to date has been pumped and dumped to hell, this version will be no different.  

One definition of insanity is doing the same thing over and over and expecting different results.

Coinhunter is the reason we have abortion.

I asked why Microcash is a scam. 1, 2, 3, 4 are not valid reasons.

3.)  I did the math in a previous post -- Coinhunter had about 1/8 of the coins in the entire network based upon the amount of money that he stated he had invested in it.  How's that for decentralization?
How does having any amount of coins relate to the decentralization of the network? Mt. Gox has a large percentage of Bitcoins in their wallets, you don't see people complaining how that harms the security of the Bitcoin network.

2.)  Development team has consistently claimed that their currencies are decentralized when they aren't.  In the past, they would not publish the code as open-sourced.  When you ask them specific questions about the technical aspects of Solidcoin/Microcash, they respond not with an answer, but rather by 1) insulting you or 2) insulting Bitcoin.  
I believe the source code is freely available on their website. Although it was a concern in the past, it is not one right now.

1)  The creator is an immature, insecure, greedy little fuck.  He's already created multiple failed versions of Solidcoin which ripped directly from the Bitcoin source code without giving credit to it as instructed by the MIT license.
These versions are iterations of the ongoing development of SolidCoin. They are not separate entities from each other, just like new Bitcoin releases.

What defines a version as 'failed'? Having no users running the specific version? I'm sure there are older Bitcoin versions which have have zero users.

Okay I agree with you on the MIT license. Cheesy

I know you asked about what makes it a 'scam,' but I responded with "reasons not to use it" instead because I can't prove it was a scam.

I'd rather fuck with Magic Johnson than microcash.

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May 11, 2012, 11:32:56 PM
 #9

I asked why Microcash is a scam. 1, 2, 3, 4 are not valid reasons.
Microcash is just a rebranding of SoiledCoin. To claim otherwise is to contradict the current marketing material which claims every SoiledCoin will be migrated to Microcash. In that sense, it is just an extension of SoiledCoin.

3.)  I did the math in a previous post -- Coinhunter had about 1/8 of the coins in the entire network based upon the amount of money that he stated he had invested in it.  How's that for decentralization?
How does having any amount of coins relate to the decentralization of the network? Mt. Gox has a large percentage of Bitcoins in their wallets, you don't see people complaining how that harms the security of the Bitcoin network.
MtGox does not control the license to Bitcoin. MtGox does not control the source to Bitcoin. MtGox does not control the block chain of Bitcoin with tyrant nodes. MtGox holds those Bitcoins in escrow for their users, they cannot decide to spend them as they see fit without breaking the law. The CPF and tyrant nodes were under your total control. That is the difference.

2.)  Development team has consistently claimed that their currencies are decentralized when they aren't.  In the past, they would not publish the code as open-sourced.  When you ask them specific questions about the technical aspects of Solidcoin/Microcash, they respond not with an answer, but rather by 1) insulting you or 2) insulting Bitcoin.  
I believe the source code is freely available on their website. Although it was a concern in the past, it is not one right now.
The code is still not open-source. It is proprietary, licensed and controlled by Coinhunter. We can see the source for the client nodes, but not for the tyrant (server) nodes. Client/server architecture where one party controls all the servers is not "decentralized", nor is it peer to peer.

These versions are iterations of the ongoing development of SolidCoin. They are not separate entities from each other, just like new Bitcoin releases.

The SoiledCoin 1.x and 2.x releases are separate block-chains that are totally incompatible with each other. They are not just like Bitcoin releases. Bitcoin has not had to stop and restart it's block-chain twice. Try to spend a coin created with the first Bitcoin client, and you will find that coin to be valid. Try to spend a coin created with the first SoiledCoin client and you will hear nothing but silence.

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May 12, 2012, 12:06:00 AM
 #10

Microcash is just a rebranding of SoiledCoin. To claim otherwise is to contradict the current marketing material which claims every SoiledCoin will be migrated to Microcash. In that sense, it is just an extension of SoiledCoin.
Microcash is not just a re-branding, there are significant changes. The widely feared trust nodes are gone.

MtGox does not control the license to Bitcoin. MtGox does not control the source to Bitcoin. MtGox does not control the block chain of Bitcoin with tyrant nodes. MtGox holds those Bitcoins in escrow for their users, they cannot decide to spend them as they see fit without breaking the law. The CPF and tyrant nodes were under your total control. That is the difference.
Do you read my posts in the context they are written in? "the joint" claimed that Coinhunter having "1/8" of the coins in the entire network harms the decentralization of Microcash. I responded with the rebuttal that any amount of coins does not relate to the decentralization of the network since there are no trust nodes. And here you are rambling something completely remote.

The code is still not open-source. It is proprietary, licensed and controlled by Coinhunter. We can see the source for the client nodes, but not for the tyrant (server) nodes. Client/server architecture where one party controls all the servers is not "decentralized", nor is it peer to peer.
I never said it was open-source. I said the source code is freely available on their website (he was talking about SolidCoin). The Microcash source has not been released yet, how can you claim to see the source for the client nodes and not the server nodes? Anyone can run a server. Clients are only there for the average joe and those who don't want to download the blockchain. I guess you should add "Purportedly," to the beginning of your claims.

~I_RAPE_BITCOINS~
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May 12, 2012, 12:21:36 AM
 #11

Microcash is just a rebranding of SoiledCoin. To claim otherwise is to contradict the current marketing material which claims every SoiledCoin will be migrated to Microcash. In that sense, it is just an extension of SoiledCoin.
Microcash is not just a re-branding, there are significant changes. The widely feared trust nodes are gone.

MtGox does not control the license to Bitcoin. MtGox does not control the source to Bitcoin. MtGox does not control the block chain of Bitcoin with tyrant nodes. MtGox holds those Bitcoins in escrow for their users, they cannot decide to spend them as they see fit without breaking the law. The CPF and tyrant nodes were under your total control. That is the difference.
Do you read my posts in the context they are written in? "the joint" claimed that Coinhunter having "1/8" of the coins in the entire network harms the decentralization of Microcash. I responded with the rebuttal that any amount of coins does not relate to the decentralization of the network since there are no trust nodes. And here you are rambling something completely remote.

The code is still not open-source. It is proprietary, licensed and controlled by Coinhunter. We can see the source for the client nodes, but not for the tyrant (server) nodes. Client/server architecture where one party controls all the servers is not "decentralized", nor is it peer to peer.
I never said it was open-source. I said the source code is freely available on their website (he was talking about SolidCoin). The Microcash source has not been released yet, how can you claim to see the source for the client nodes and not the server nodes? Anyone can run a server. Clients are only there for the average joe and those who don't want to download the blockchain. I guess you should add "Purportedly," to the beginning of your claims.

If the Microcash source has not been released yet, then how can you claim its decentralized and that the tyrant nodes are gone?

Regardless, CoinHunter's personality alone makes me want to stay away from MicroCash, decentralized or not.  Bitcoin has absolutely obliterated every former SolidCoin attempt in terms liquidity, value, # of merchants, transparency, media hype, novelty, etc., and CoinHunter still had the balls to try to claim that SolidCoin was better than Bitcoin in every way.

It's bad enough when you're a pathological liar, it's even worse when you begin to believe the shit you spew.  With CoinHunter, RealSolid, and notyep, the SolidCoin/Microcash currency has had the absolute worst and most thoughtless ad campaign I have ever seen in my entire life.  They remind me of Bulk and Skull from the Power Rangers.

I kind of think that CoinHunter has a crush on Bitcoin and that he keeps slamming it like a first grade boy slams a first grade girl when he likes her. 

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May 12, 2012, 12:23:54 AM
 #12

Microcash is just a rebranding of SoiledCoin. To claim otherwise is to contradict the current marketing material which claims every SoiledCoin will be migrated to Microcash. In that sense, it is just an extension of SoiledCoin.
Microcash is not just a re-branding, there are significant changes. The widely feared trust nodes are gone.
Microcash does not exist except in the marketing messages on this forum. It can only be more than a rebranding when it's source is released. At this point, it is just a vehicle for Solidcoins to be renamed Microcash. Any further enhancements are promises from a group of people who have yet to keep any.

MtGox does not control the license to Bitcoin. MtGox does not control the source to Bitcoin. MtGox does not control the block chain of Bitcoin with tyrant nodes. MtGox holds those Bitcoins in escrow for their users, they cannot decide to spend them as they see fit without breaking the law. The CPF and tyrant nodes were under your total control. That is the difference.
Do you read my posts in the context they are written in? "the joint" claimed that Coinhunter having "1/8" of the coins in the entire network harms the decentralization of Microcash. I responded with the rebuttal that any amount of coins does not relate to the decentralization of the network since there are no trust nodes. And here you are rambling something completely remote.
I guess you have no comment on how completely different the two situations are. I am not surprised that you fail to understand (or feign ignorance), if you did understand and had a conscience, you would not find yourself in this situation.
In one case on entity has total control of the currency, client, servers, and block-chain and also owns a significant fraction of the coins.
In the other case, one entity acts as a broker and has no control over the peers, client, or block-chain.
MtGox could not stop Bitcoin if they wanted to. Coinhunter has already stopped SoiledCoin twice.

The code is still not open-source. It is proprietary, licensed and controlled by Coinhunter. We can see the source for the client nodes, but not for the tyrant (server) nodes. Client/server architecture where one party controls all the servers is not "decentralized", nor is it peer to peer.
I never said it was open-source. I said the source code is freely available on their website (he was talking about SolidCoin). The Microcash source has not been released yet, how can you claim to see the source for the client nodes and not the server nodes? Anyone can run a server. Clients are only there for the average joe and those who don't want to download the blockchain. I guess you should add "Purportedly," to the beginning of your claims.

My statements were regarding SoiledCoin and the unsubstantiated claims of the SoiledCoin crew. Of course I wasn't talking about Microcash, it does not yet exist. Thank you for admitting that Microcash will be client/server and not peer to peer.

Also, you can stop pretending you are not a Coinhunter sockpuppet. There are 3 supporters of SoiledCoin on this forum, and you pretending to be a fourth just detracts further from your image. When the organizers of SoiledCoin decide to own their product instead of hiding in the shadows, we might take them more seriously. Until then, we are left with:

SoiledCoin 1.x, fatal design flaw, blockchain shut down
SoiledCoin 2.x, fatal design flaw, blockchain in limbo
SoiledCoin 3.x (aka Microcash), vaporware, purported by a sockpuppet (none of the SoiledCoin crew will sign their name to it) to have serious design flaws if ever released. Until it is released, we are left with the rantings of a pathological liar on which to base our evaluation.

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May 12, 2012, 12:42:40 AM
 #13

Hello guys I'm new to this. I found the bitcoin.org site (is it official?) to be a bit lacking for a beginner.

Bitcoins sounds like a revolutionary push for new currency, but I have a few questions before I actually go any further.

  • I heard bitcoin was opensource, but what prevents me from giving myself 999 (or anyone else) bitcoins?
  • How long does it take for me to download all the stuff in the software? It's been sitting at 1% for quite a while.
  • Is there a list of businesses accepting bitcoin? What can I do with it?

Please mind my name, if you're a redditor, you'll know someone that goes by "I_RAPE_CATS". I thought it would be funny if I claimed this name before anyone else.

Anyway, thanks!  Wink

[Edit: What is mining? I heard I could make some money with my computer, how?]

This is the first post of i_rape_bitcoins where he claims to be new to the whole crypto-currency concept. The next 4 posts are similar in nature.
Of course, as soon as he exits the newbie forum his tone shifts markedly and is revealed to be a SoiledCoin sockpuppet. One day later and suddenly he knows everything about SoiledCoin.

People who need to lie in this fashion should not be trusted with your money.

I can see the spit coming out of k9quaint's mouth sticking to the screen of his computer...

Morons...

Right now, you are looking at your screen. The spit you are seeing is probably not mine.

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May 12, 2012, 12:51:58 AM
 #14

I can see the spit coming out of k9quaint's mouth sticking to the screen of his computer...

Morons...

Right now, you are looking at your screen. The spit you are seeing is probably not mine.

LOL. Keep spiting out of rage, little man!

And here we have the third puppet demonstrating The Joint's assertion:
"When you ask them specific questions about the technical aspects of Solidcoin/Microcash, they respond not with an answer, but rather by 1) insulting you or 2) insulting Bitcoin.  "

When we use logic and facts, the SoiledCoin sockpuppets respond with insults.
Enjoy your second failed block-chain.
I will look forward to May 10th when SoiledCoin promised to release their greatest creation...

Bitcoin is backed by the full faith and credit of YouTube comments.
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May 12, 2012, 12:56:52 AM
 #15

I can see the spit coming out of k9quaint's mouth sticking to the screen of his computer...

Morons...

Right now, you are looking at your screen. The spit you are seeing is probably not mine.

LOL. Keep spiting out of rage, little man!

And here we have the third puppet demonstrating The Joint's assertion:
"When you ask them specific questions about the technical aspects of Solidcoin/Microcash, they respond not with an answer, but rather by 1) insulting you or 2) insulting Bitcoin.  "

When we use logic and facts, the SoiledCoin sockpuppets respond with insults.
Enjoy your secondthird failed block-chain.
I will look forwardback  to May 10th when SoiledCoin promised to release their greatest creation...


FIXED FOR YOU =)
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May 12, 2012, 10:24:46 AM
 #16

Note topic. No trolling.

The MicroCash system is rigged in such a way that coins will transfer over time from those with few coins to those with a large number of coins. This is done on a pretext of limiting the addresses in use but that's clearly nonsense as the address space of BitCoin is in the same order of magnitude as the number of fundamental particles in the universe. They invented a tax to stop people from wasting an infinite resource.


Those with a large number of coins are all in the SolidCoin inner circle. The whole system is designed to transfer wealth from the honest miners and traders to this inner circle without the inner circle putting in any work to deserve this income. Essentially MicroCash is BitCoin with a mechanism to tax the poor and give to the rich and a pretty GUI to hook in gullible people. If any of those gullible people find their way here they will be educated.

This system is at best poorly designed deception and at worst outright theft.

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May 12, 2012, 04:17:15 PM
 #17

The only alt-currencies that seem worthy of use to me is litecoin and namecoin plus there both struggling opensource projects.  With Microcash/Solidcoin being more developed on that would help it but with it being closedsource no "nerds" are going to trust or use it and its only really nerds using virtual currencies at the moment.

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May 12, 2012, 04:32:43 PM
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It is a scam because you are not an early adopter.

Oh wait, it is the same with BTC ...
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May 12, 2012, 05:18:58 PM
 #19

It is a scam because you are not an early adopter.

Oh wait, it is the same with BTC ...

If you steal 25 BTC from a nice German guy on btc-e chat ( say transaction 84bfc754ff8e60d1042be7e6c2a0e6b83d5fdc4919a4e7c9efac6c86bec67d0a ) and keep it in your wallet ( address 1Bu1424Lf7y3Jz9p4ZyCo2mRSQDwdaXrHa ) you will have 25 BTC today.
You will have 25 BTC tomorrow.
You will have 25 BTC next month.
You will have 25 BTC next year.
You will have 25 BTC next decade.

If you started with 25 MC you would have 25 MC today.
You will have 25 MC minus minor losses tomorrow.
You will have 25 MC minus bigger losses next month.
You will have a seriously degraded amount next year.
You will have nothing or almost nothing next decade.

So where do the coins that got taken from you go? To everyone else who owns coins proportional to the number of coins they own. That is they go mostly to CoinHunter and his cronies.

The difference between BitCoin's early adopters and MicroCash's inner circle is that the MicroCash system is rigged by design to slowly filter coins away from everyone and into the wallet of CoinHunter. BitCoin early adopters have to give up some part of their capital in order to get value from their coins, MicroCash's inner circle do not. Therefore MicroCash is a bad medium for quick transactions and a truly awful store of value.

Microcash is a scam. Not in some figurative or weasel-worded sense but in a very real one.

interlagos
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May 12, 2012, 09:41:20 PM
 #20

I think a better approach for coins redistribution would be to create thresholds for three classes of accounts:
1) spam/dust account x < 0.5 mc
2) low income account  0.5 < x < 10000 mc
3) high income account x > 10000 mc

Then the rules would be the following:
 - spam/dust accounts gravitate to zero over time (decay with fees)
 - low income accounts gravitate towards middle threshold 10000 mc (grow with interest)
 - high income accounts gravitate towards middle threshold 10000 mc (decay with fees)

EDIT: plus add the rule that if any account hasn't been spent from for a period of time,
the interest (if any) drops to zero, the fees start to apply (if haven't before).
This will allow dead accounts no matter of which class to eventually decay to zero.

Just my two cents.
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