Post
Topic
Board Altcoin Discussion
Re: Why is Microcash a scam?
by
Etlase2
on 14/05/2012, 14:08:05 UTC
Why exactly must people lose their money for participating in the currency?
Nobody has articulated that need to my satisfaction.

The problem is the lack of participation. If you store some tiny ass amount in an account and expect it to be there in 20 years, that is ridiculous. Why does everyone have to service you for nothing? Bandwidth and storage are cheap, but they are not free. However, I think the way soiledcoin 3 is doing this is just another early adopter scam joke. Charge inactivity fees after an extended period of time, but not daily fees regardless if there is activity or not. If you are making or receiving transactions, then you are supporting the network regardless of how much is in your account and you shouldn't be charged anything since you are already paying tx fees--and it ensures that the wallet key is not lost. If you have some piddly balance after a year with no activity, yes you should be charged a fee, imo.

Bitcoin has made a bunch of self-serving whiners that expect everything to be free on the backs of the people who actually support the network. Although, at this point, a good majority of them are miners too, but this will certainly not always be the case. Not that the bitcoin network is even capable of charging inactivity fees though.