Quote from: rizzlarolla on August 04, 2015, 01:06:07 PM

Edit- this post now reflected on nokoin forum by Idifin, http://forum.neucoin.org/t/pre-launch-updates/1268/36

idifin from that post on Neucoin's forum.

I'm not much for forums, so you're not going to see me here much or on the Neucoin forum for that matter. Mainly posting here so that the Neucoin people don't say that I'm just rizzlarolla posting under a different name on their board.

I've been involved in Bitcoin since early 2010...back when you could still mine with video cards. In the interest of full transparency I put about 10 BTC into the Neucoin presale. It might be gone now, but I was aware of the risk going in.

Honestly I don't think Neucoin is a scam. They went to a lot of trouble to be appear very professional, and in the whole grand scheme of things didn't take in that much money to justify everything it appears they did. The "scam", if there is one, could come as a pump and dump. But a lot of things are pumped, especially in crypto, and I'm not against riding a pump and dump for some quick profits. I've done that with a few other coins and generally have sold profitably, but much earlier than I should have.

e.g., Gawminers was obviously a scam from the beginning, and by the time Paycoin came along I really couldn't understand why people were still engaged. I bought some equipment early on from Gawminers. I received it, but was very skeptical about how they ran their business and pretty quickly stopped buying from them. I actually got a several thousand dollar miner for free from them at one point.

Neucoin doesn't have the single, charismatic leader that is so often there with large scams. I feel like Neucoin suffers a bit more from incompetence than anything else.

What bothers me about Neucoin is the veneer of professionalism coupled with lack of follow-through. I would have been fine if after the pre-sale if they had said, "hey, you won't hear from us for 4 months because we're going to work hard on making this happen". Instead, there were several promises about updates that haven't been met, and when updates were provided they really didn't give much new useful information.

My point of the post on the Neucoin forums is that perception is often reality. Detractors, whether right or wrong, will always seize upon evidence of incompetence, of which there appears to be plenty.