I wrote "I am grudgingly happy that most exchanges passed on this" 

On second thought - this scheme would have only come to pass if just YoBit and, say, some tiny tiny exchanges picked up on the offering.  (If it were a get rich quick scheme...) 

If other exchanges - or even one - exchange with a large volume picked up LCC, then the "bot box" could not have been sustained at YoBit.  The price scenarios could have gone quite differently.   

At this point, LCC may not have been a scam but it was a bit like printing a lot of money on the promise that others would get some too.