So you have to ask yourself. What is Silk coin doing that is creating UTILITY? What is it doing that other coins are not doing?
And.... What is Silkcoin NOT doing that other coins are doing?
- BIP 0021 "URI Scheme" to enable payments by clicking on link or scanning QR code
- BIP 0070 "Payment Protocol" for better communication between merchant & customer
As a web developer in the finance industry, I see these 2 BIPs as vital for any crypto currency that wants to have merchant services built upon it.
Well they're about 5 versions behind on the source code. This stuff is standard on Bitcoin Core 0.9+ which most new coins are using now and they're now up to 0.9.3 on their release candidate branch. Silkcoin is using 8.6 as a base which has been outdated for 1 1/2 years. They're talking about all of their big plans and modifications but they're starting with crappy old code. It's like ricing out a 10-year-old Honda instead of going with a Ferrari for the same price - it doesn't make any sense.
Hey MEGAman, don't worry I'm not gonna trash you. You've got your reasons for doing what you do and I've gotten use to having you around. Plus anyway my mind is made up regarding SC and nothing you can say will change that.
But I'm just curious, what if you're wrong and SC is not a scam? What if the devs are legit? what if they're able to follow through on their vision and SC becomes a big success? What then?
Will you apologize to SilkCoin?
The thing is, it's hard to apologize when they premined 4.5% of the coins which screwed all of you guys over. You don't understand economics and I get that - but they screwed you guys over bad. The change from 2% to 4.5% after the coin was already launched is just a seedy move. Even allowing the change was ridiculous - I don't care what the greedy community wanted. The distribution on this coin is AWFUL. If the dev (notice I said dev and not "devs" - it's just one guy as I've picked up on his style) actually pulls out something revolutionary and Silkcoin is a huge success yes - I will publicly apologize (even though they're still a little shady due to the way things have been handled I will gladly admit I was wrong). What do I think the odds of that happening are? I think it's more likely you and I get struck by lightning simultaneously than Silkcoin ever being worth more than 5000 Satoshis again (and even 5000 would require a massive organized pump). There are a ton of coins in circulation for a coin that hasn't even been out for 2 months. There are more Silkcoins than Litecoins out there and
everybody wants to unload. It's a really bad time to be a Silkcoin holder.
But back to your question: Yes - I would apologize for doubting them and I would also admit I was wrong about the value. Don't hold your breath - I've never been wrong before on these things. I'm a perfect 11 for 11 I believe (Silkcoin should make me 12 for 12).