Post
Topic
Board Altcoin Discussion
Re: Paycoin (XPY) is scam
by
inBitweTrust
on 05/03/2015, 16:31:51 UTC
I read the link you provided and its not even worth rebutting because of the lack of quality. I will leave it to the readers to compare the evidence that we have been providing and the little bit of evidence that doesn't managed to get censored because it isn't parroting the company line on a forum controlled by the company whose these allegations are concerning.

Do you want me to expose that you were on the crusade long before there was no evidence whatsoever? uh, ah. there's still none whatsoever and, now, plenty of real evidence to the CONTRARY.

Hehehe...

What is there to expose? I have been quite open with my crusades against fraudsters including GAW from the start. Before paycoin it is quite likely that I was warning people about red flags in GAW cloud mining scheme and how they were likely running a fractional reserve ponzi.

Let me repeat what I have claimed over and over again:
The only bias I may have is slightly towards bitcoin as 99% of my investments are there. I do not necessarily prefer PoW above PoS but prefer a mixture of the two. I have no problem with investing in an alt if it fulfills certain roles that bitcoin cannot fulfill and even have my eyes on a couple right now.  I have never done business with GAW or paycoin so it isn't personal and my attacks aren't specifically focused towards paycoin as I have a long post history of attacking other alts and cloud mining ponzi's. I stand to gain nothing from warning others about paycoin besides trying to salvage a little reputation with the crypto community. Paycoin would have failed even if no one warned others about this scam because there exists multiple fundamental problems with the coin and the people running it.  Everyone in the crypto community loses with these types of scams.

Same should apply to BitUSD/BitShares I suppose. NuBits is a good example of decentrally controlled currency that cannot be shut down by the legal arm.

You bring up a good point. There is a continuum of difference in centralization. I would suggest that Bitshares is more decentralized than  paycoin or ziftr, and paycoin is more decentralized than DGC, digicash, libertydollar, or liberty reserve.

Decentralization should be summed up by a combination of factors: How many different nodes/miners/stakers control the currency, how may independent implementations exist, how many different independent developers are contributing, ect...

Bitcoin certainly has been becoming more centralized over the last 2 years but there has been some good signs lately with some developments in different implementations, and Olivier Janssens  being elected to the BF and his motivations to start having the community have more direct control over the salaries of 3 paid devs and what they work on.