Post
Topic
Board Altcoin Discussion
Re: Why is Microcash a scam?
by
drakahn
on 15/05/2012, 03:02:27 UTC
Microcash is scam because it not store of value. Best to put money in bank with 0.25% annual interest or under mattress than put in Microcash.

With Microcash daily account fee you lose money every day.


it's not correct, when you have some MC$ in your wallet, you will get daily interest...

the daily account fee is MC$ 0.005, that means MC$ 1.825 a year, when you have a very small account...

every account has to pay it, after that it is redistributed proportional to the network regarding even how big every account is...

this is a "cleaning" mechanism and spam protection...

this will strengthen the network, you can get some MC$ even if you are not mining, only by hoarding the currency...

correct numbers of holding MC$ to get interest can't be given now and it will fluctuate because it depends on the number of accounts and how much MC$ you have...

its also been said that because of the fee as you have explained it, all the coins will be in one account... the biggest exchange/bank will be collecting the most so there is no reason to not store your coins with them, meaning that one exchange and realsolid are the only two accounts paying fee's?