Quote from: gjhiggins on July 06, 2014, 11:07:07 AM

Quote from: psychocoin on July 05, 2014, 11:14:44 PM

Great thread, but wouldn't it be better for the community if the list was updated as soon as sufficient proof against any coin(s) arised, not just once a week?

You would have to write down exactly what you meant by proof, showing positive and negative examples, otherwise you're setting up a condition that's impossible to verify.

After you finished, you'd have to do it all over again, this time for sufficient.

The list is the OP's purely personal take on altcoins; the criteria are subjective and inconsistently applied. In the absence of a more rigorous attempt to provide definitions, it can only ever be a personal list of dislikes, posted to stimulate some discussion. To attempt to subject it to more exacting requirements would be a mistake, the list is simply not up to the job.

Please dont mistake my intention: it's a nice list and Im sure many people also find it instructive but the content is the result of purely personal opinion and cannot be taken to be proof of anything.

Starter for 10: produce a definition of "scamcoin" to a standard such that we would both produce the same list if we made our choices independently but strictly according to the definition.

It is an impossible task, so I could've made it starter for 10 thou and I'd still be safe. But the take-home message is the old, old saw: One mans meat is anothers poison --- the best working (and, yes, personal) definition of scamcoin that I've managed to come up with so far is: appeals to those interested in a high risk/reward ratio. At least it acts to point me to the potentially fruitful area of applying risk assessment techniques to illuminate the playing field better.

Cheers,

Graham

In my opinion a scam coin is any coin with no new features or ideas (basic clone) that has a premine over 0.5% (for personal purposes) and IPO.
These coins serve no purpose other than bringing an unstable alternate currency.

New Features include:

- TOTALLY NEW Algorithm (Don't just add layers on top of x11)
- New way of earning coins e.g. Proof of Transaction
- New Design (At least the developers put some effort in)
- Additional addons to the Qt Wallet e.g. Block Explorer, Exchange, Games
- A coin built from scratch
- A coin with a powerful but possible idea. No examples for this one Tongue