This is looking like a pyramid more than ever. The top 50 coin holders earn the majority of the growth rewards. Many of the top wallets are owned by the Merit Developers. To be a top 50 coin holder, you need to buy coins from the greatly manipulated in-house market or from the developer Genesis Block Sale, currently ongoing for 545 more days. Everyday, 27000 coins are auctioned off for BTC. If you do buy it, you get coins proportionate to the amount of BTC you send. You still wont be a top 50 coin holder because even 27000 coins is not enough to be in the top 50. So you will need to buy from this sale more than once.

The developers have gone silent for the most part. Barely answering questions, and only to show up when there is a problem with their network, which happens once a month. When this happens, everything is shutdown. You can't use the wallets, access the websites, or use the market place, it is a complete shit show.

The so called mobile wallets, dont work for iOS, even though people have been asking about it for weeks now, and they keep saying we are working on it with nothing to show for it.

They don't answer very important questions about their block sale, which makes me wonder if this is even SEC compliant. They claim to have been corresponding with the SEC for the past 3 months to explain their approach and position, and claiming because Merit was launched in a decentralized way, nothing about the token sale is initial. There is no centralized price-setting, which solidifies Merit as a digital asset or currency, and not a security.

This is just flat out an ICO, in a dutch auction form. They need to be registered with the SEC and are probably not. Bidders, buyers, beware of this pyramid scam coin. Do you really want to throw your money away?