Scam cryptocurrencies

in #cryptocurrency8 years ago

Who am I?

I'm an old-user cryptocurrency user (since 2011).
I have some commits on Bitcoin Core (source code modifications) and on Electrum.

Scam cryptocurrencies

This is a list of cryptocurrencies you should avoid with the reason and some alternatives (where needed/available) you should use instead.

Bad cryptoWhat to use insteadExplaination
IOTARaiBlocksIOTA is the worst cryptocurrency you can invest on it. It had a bad cryptographic vulnerability and it still need a closed source component in order to work correctly. Moreover IOTA is not for IoT.
RippleRaiBlocks / LitecoinRipple is a non-cryptocurrency, centralized and bank-controlled. Just avoid it. If you need to quick send money between exchanges use RaiBlocks or Litecoin.
EthereumEthereum ClassicEthereum likes to change anything without good reasons (like the DAO fork) and it has centralized and dummy development. If you really need to use smart contract use Ethereum Classic instead, but please don't use it to do simple transactions!
Any Bitcoin forkBitcoin / Litecoin / RaiBlocksa Bitcoin fork is just a scam created to (ab)use the name "Bitcoin". If you just need to quickly send money from an exchange to another exchange use RaiBlocks or Litecoin. If you want something to HODL it, use Bitcoin.
ZcashMoneroZcash trusted setup may be backdoored and so zcash developers may be able to generate infinite zcashes, moreover almost nobody uses the privacy addresses of zcash. If you need strong anonimity use Monero instead.
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