Post
Topic
Board Service Announcements (Altcoins)
Re: Scrypt.CC | Scrypt Cloud Mining
by
ThePhwner
on 06/09/2015, 13:08:50 UTC
7. When KHS was converted to MHS, the overall availability went from 850 "GHS" to 6000 "GHS" with no explanation

7a. During this conversion rounding was used and many people lost KHS

I don't believe either of those points are true.   The amount of KHS owned and traded has been 500 GHS for some time.   The trading levels since the conversion are 1000 times less than they were before the conversion.   Also left over KHS was converted to BTC, it is just it isn't much BTC for less than 1 MHs.


It doesn't matter if you "believe it to be true" or not, both of these points are true. Rounding down meant a loss of KHS and there suddenly was close to 6000 GHS available in the order book following the conversion. Please provide factual evidence to the contrary as your beliefs are not mathematical proof.


this is probably the one of the longest on going scam I've ever known.
I know right. After all this time. Well you know what they say in crypto that if the roi is way shorter than the competition then its too good to be true  Smiley

The "roi" is set by what people are willing to pay for the MHS (was KHS) being sold.   That has nothing to do with scrypt.cc being a scam or not.   The prices are very low per MHS because the yield is very low.   It was set to 20% after the hack and never restored.    Prices just adjusted to the lower return.   It is a free market.   That is all.  


The ROI is a constantly moving target. Every time there's some sort of "incident," the commodity is devalued and ROI for currently held shares drops. However, since the commodity is now cheaper, investors can, and are encouraged to, buy additional KHS/MHS/UnicornHS to "bring down" the overall ROI timeline. Notice any patterns here? Notice anyone actually ROI'in on their buy-in point of 1200 satoshi per KHS? Yeah. Me neither.

And to your other point, this isn't a free market. It's manipulated by the owners on one side, releasing new KHS/MHS as they choose and creating fictitious events to manipulate the price; it's manipulated on the other side by slightly tech savvy users who have figured out how to exploit a 3rd-rate website with 4th-rate code and a 10th-rate trading engine. If you think ScryptCC's orderbook constitutes a free market you need to go back to the Econ 101 texts.