Post
Topic
Board Altcoin Discussion
Re: iGotSpots Scam Dev
by
seedtrue
on 08/10/2015, 17:34:25 UTC
BCX is completely right about this actually. It is open source software, you can release as many versions as you want. No one is forced to mine it.

If I decide to release 1000 different flavors of an open source calculator I find on Github, would you call that a scam too?
Not at all the same thing. No one will invest or lose monetarily from your calculator.
The opposite of a scam would be honesty and integrity, and you can't say Spots ran his coins with either.
What about the lies about all of his plans to promote his coins and get merchants to accept them? He knew this was never going to happen, but he propagated these lies to encourage people to invest in his coins.

I do not know the whole story with igotspots, I would need to look more into the history to decide whether or not it was a scam . I was agreeing with what BCX posted.

Let us summarize using Merriam-Websters definition of a scam.

scam
      noun \ˈskam\
: a dishonest way to make money by deceiving people

Therefore, if no money was made in a dishonest way, just releasing 1000 different coins and not supporting them is not a scam.