TERM: Scamcoin

Scamcoin

A cryptocurrency that operates with the sole intention of defrauding its users. Typically, coins that operate as ponzi schemes or ICOs that make false promises are the primary culprits of being scamcoins.

EXAMPLE USAGE:

Tim: I think I am going to invest in Bitconnect because it promises 1% daily interest!

Bob: Don't do it, that is a ponzi scamcoin.

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James C.
Posted on August 7th, 2018