Post
Topic
Board Altcoin Discussion
Re: Blowing the lid off the CryptoNote/Bytecoin scam (with the exception of Monero)
by
Luke-Jr
on 22/08/2014, 11:24:07 UTC
Sorry, Monero is just another copy/pasta pump & dump scamcoin.
ByteCoin was at least innovative somewhat, although that alone doesn't escape from functioning as a scam.

I didn't read the whole post, nor any of the replies here, but from what I saw, there really isn't a solid argument being made here against ByteCoin.
Yes, they forged false whitepaper dates to "justify" a premine - but the problem is that someone thinks they have to justify it at all.
Premining is not what makes scamcoins scams - the premine is probably the most reasonable part of an innovative scamcoin, really.
People deserve to be paid for their work, and premining is a decent way to accomplish that (ignoring the pump & dump scam nature that is problematic with or without premining).

(FWIW, the reason ByteCoin does not escape being a pump & dump scamcoin is because all of its actual improvements can be adopted by Bitcoin, thus making it irrelevant when that occurs, and everyone left with ByteCoins suddenly losing all value in them)