Author Topic: MyCoin and other fraudcoins?  (Read 1212 times)

0 Members and 1 Guest are viewing this topic.

Offline btswildpig

  • Hero Member
  • *****
  • Posts: 1424
    • View Profile
mycoin is a centralized scam . The owner keeps all the money .

Bitshares is a decentralized solution . Your funds in the system are pegged to the fiat price they pegged to and no one can touch it without private key .
这个是私人账号,表达的一切言论均不代表任何团队和任何人。This is my personal account , anything I said with this account will be my opinion alone and has nothing to do with any group.

Offline futurist

The news today is that MyCoin supposedly went under and that funds were "lost."  I'm not familiar with it and still trying to understand several facets of the blockchain, but was this problem attributed to an exchange? Like Mt. Gox? Or was this a client-based problem? Decentralization helps prevent fraud, but how does the Bitshares model compare? What methods are utilized now that prevent this scenario from happening? Thanks. Also, I understand that all of these new developments have risk, but I am interested in learning more about what is being done to curb that.