Post
Topic
Board Altcoin Discussion
Re: I0Coin is a SCAM
by
caston
on 18/08/2011, 04:46:24 UTC
1) wait until someone launches new p2p currency
2) have pool ready
3) get everyone to mine new p2p currency on your pool
3) use your less than 1 ms latency to mine the shit out of new p2p currency while your pool ensures that you control the blockchain
4) if people complain about only stales while your getting all the blocks blame it on the low difficulty
5) dump coins on exchange to get all the investors bitcoins
6) profit

As a side node I was going to transfer money to mtgox to buy bitcoins to buy i0coins. Very glad I didn't now. My last transfer of $800 AUD is nearly entirely down the toilet thanks this rubbish mostly lost on IXcoin but my hashing power was  wasted on i0 coin.
I'm sure the guys that hold most of the i0 coins will relieve the other  suckers investors of their bitcoins soon.