Quote from: Equality on May 05, 2013, 03:33:13 PM

Quote from: drawingthesun on May 05, 2013, 03:06:38 PM

Quote from: BrewCrewFan on May 05, 2013, 02:42:26 PM

LOL to many here if its not LTC or BTC, its a scam.

If no one is being manipulated or lied to is it really a scam?

they are being manipulated and lied to if they creator states when he releases the coin that 1 block will be created every 10 minutes but in reality 1 block is created every 1 second or less. then the creator releases no information on how to mine the coin so after the first couple hours 90% of all coins that will ever be created are already mined and the creator owns nearly all of them. he released the coin with a lie and manipulation and did so in a way that no one else would be able to mine the coin until he already owned nearly all of them. that falls under the definition of a scam in the OP.

This is true. I think releasing a coin with such a low difficulty is pre-mine. Its kinda tiring to wake up to another coin and give it a go and 20,000 blocks are already on the chain.

If you want to release a new coin at least set the difficulty super super high so it takes a few days to come down to expected levels, this will allow more people to hear about it.

(So set the diff so the first blocks take 30 minutes each, and the network will adjust eventually but by the time the blocks are coming at the expected rates its taken a few days or even a week and people know that a million coins were not already mined)