Well at least it's crashing straight into the ground where it belongs. So sick of these PoW+PoS scams where the devs lie about the premine. The bottom line is the guy premined 6% of all PoW coins...which means at launch he also receives ALL of the PoS...which just leads to a loop of compound interest. The premine probably put him at 40%+ by the time he first started selling. Clueless suckers. Same scam over and over and over. He'll probably release his next one tomorrow (if it isn't already out). Man are people around here gullible, greedy losers.
Quick solution so that you don't get mad at these "scam coins" and "lying devs" - don't mine coins that you don't like, and keep track of devs. If there really is a "lying dev", don't mine the coins he releases. Investigate the premine blocks and verify for yourself they are the correct amount.
There's really no reason to be upset if you don't mine what you consider to be "scam coins".
There's a certain amount of risk that lots of miners toe the line on these days, with tons of new coins and new algos flooding the space, that the next coin they mine will leave them holding the bag instead of making a profit, and if you don't want to toe that line, stick to the established, "safe" coins.
Scammers suck funds away from new investors that could be going to legitimate coins, developers, and projects. It hurts progress whether I buy or not. I believe education is the best defense. Uneducated people make bad decisions (like 99% of the people in this thread who spent money on this crap).
I also don't think bank robbery should be legal even though I don't own a bank and I'm glad that laws exist. Just because this is the wild west doesn't mean everyone should turn a blind eye to scams and fraud and continue to let these criminals get away with it. This is a blatant scam - it's not about what I think and it's not up for debate - it's a fact.