This coin has been a shitshow from the start.
1) The dev has a
massive premine of 3,000,000 coins which they pink promise they won't dump
2) Failed update after failed update. They've put out mandatory wallet upgrades several times this week
3) Dev has now declared a soft-fork this week which will devalue all previously mined coins by 75%
4) Masternodes still do not work right, of a staggering 16,000+ coins. Over $50,000 USD
5) They are actively censoring any negative comments in their ANN thread and in their Discord.
6) They have now either banned any account that has said a negative word or shut it down entirely. EDIT: it would appear simply kicking those who say anything negative.
7) They cannot even handle Discord correctly. Putting important and required information in any channel they are in at the time and ignore the #annoucement channel.
8 ) The 16,000 needed for a MN was sold to an "investor" from their premine. This investor is now basically holding a bag that just drop > 50% in value and even more in future earnings.
9 )
Mastnode change? 10 )
Devs have now changed their minds I am still not touching this coin.
11) I do not know how I have not mentioned it until now, but the WhitePaper is STILL not released. They swear it is coming though.
12)
Dev tries to explain away thousands of coins movingThis whole thing screams of people who have no idea what they are doing.
This is the exit scam in progress. Do not touch this coin.
I totally agree with your post. LUXcoin might be a big scam. Since the start of the project, they chose randomly someone on the Discord channel, put them as moderators, supervisors, etc. Thats very weird since the beginning. Be carefull with the project. You can ask someone who joined the Discord channel at earlier stage, they will verify the information for sure.
Hope it helps!