I must say the ones who spent btc on this are complete retards or sockpuppets.
Oh, all newbie is scammer, right?
"False promise of collateral." - Why do you think???
Please everybody who call us scammer, check our website. ALL THE IPO WAS TURNED TO GHS AND VISIBLE ON OUR WEBSITE. Check the link, this is an official cex.io link.
Please, if you don't belive that we are trusted members, visit the hungarian official bitcoin forum, a lot of people know us there:
bitcoin.hu/forum
Mind that I wasn't saying that you're scammers. I was implying that this idea is very likely to fail and newbies should be careful.
Mining on cex.io is/was a losing proposition. Basing the collateral on this is just illogical in my opinion and creates a false illusion of safety.
Pre-mine: you can be sure that if the exchange rate of the coin goes up (or stays the same for long or declines) people who get the premined coins will dump them within a heartbeat crashing the market leaving the newbies with useless GHashes at CEX at best. It's inevitable.
Considering the participants and fragility of this coin I wouldn't advise anyone to invest in this. (mining the coin is another matter).
There are many other downsides but I don't have time to detail everything now.
And what do you think about the coins, which does not have any collateral? I think that coins are much more risky investment, and many people have invested into their IPO. I am sure that those investments in, our coins is worth much more.
Absolutely. I think other coins don't have collateral security. But we have...
What will be the value of this collateral security in 6 months? in 1 year?
In other words, you claim "The virtual mining coin is the first crypto currency is backed
by collateral , ensuring that the coins value will never become 0". So what will be the minimum value of 1 VMC in 1 year? (I'm not asking an exact number but a good approximation.)