I usually take my time to respond to FUD articles about a crypto project but I am compelled to because I have followed the skycoin project very closely and from my various interactions and communication with the team, the telegram group and other brilliant minds in the crypto space , I can tell you one thing for sure , If a bubble occurs today in the crypto , Skycoin will be amongst the last one standing
This whole article has come about as a result of this https://medium.com/@somearenumbers/fifteen-minutes-with-a-scam-coin-a-hands-on-approach-4bd187206701
So this fictitious writer starts off by pretending to know what he/she is doing and rambling over what He/she knows nothing about
The writer start off by saying the whitepapers are questionable ,Skycoin has a Ghost Community, Skycoin's code is cloned from elsewhere , Skycoin's business plan is not sound, Skycoin's miners are overpriced and serve no clear function as sky was "pre-mined"
First things first for a project that started as far back as 2012 with over 80 developers with working products and a rich architecture to correct the flaws of all existing cryptocurrencies and how all of a sudden a riff raff is just identifying it as a scam project is bewildering
There are 5 downloadable whitepapers on the site with 4 of these papers were authored by Houwu Chen and Jiwu Shu. Jiwu Shu is listed on theTsinghua university's faculty page as an associated professor of computer science.
Houwu Chen is listed on researchgate as a PHD candidate at the university currently working at the computer sciences department .
This blogpost on the official Ethereum blog from 2014 by Vitalik Butterin himself names Chen as a lead developer on the Ethereum project
The whitepapers are peer reviewed, published scientific papers.
If you go to Skycoin Git on Github
The Skycoin project has 30 active repos.
The Skycoin core repo has 39 contributors with regular commits.
I was able to trace the commit history of the Skycoin core repo back to January 2014.
The Skycoin core repo has more than 3918 commits at the time of writing.
For anyone who knows anything about crypto, that is the first thing you should be looking at to tell if a project is real or fake but the writer decided to bypass all this because there is a hidden agenda to create doubt and fear and label skycoin as scam
Skycoin Project is building the new internet. This includes:
Skywire: Anonymous, decentralized mesh-internet and telecoms
Skycoin Blockchain: Free, Instant, Infinite transactions
Skyminer: Internet access point that pays you for bandwidth
Obelisk: Decentralized consensus
Designed by original Bitcoin and Ethereum developers
Skycoin project has a lot going for it . It is a complete ecosystem and if 99 per cent of other cryptocurrency had the amount of work and project skycoin has, they would be shilled to heaven . However under the cool influence of the development team, they have made sure that products are tested and working before doing any promotion or marketing .
For Clarity Skycoins are not "premined" because skycoin does not have mining.
Skycoin has consensus and minting, not mining. Since there is no mining and no block rewards, it is mathemaically impossible that the coins are created in any way except the genesis block
The mining rig or sky miner is not really mining, it gives a reward for providing bandwidth for the skywire project
The problem is most crypto investor do not understand blockchain and like Ilya are not willing to invest time into learning what it is. When something different from bitcoin shows up they have even less motivation to check it out.
The writer also complains about the price of the Miner . Nobody is forcing you to get the miner and you have the opportunity to DIY (Do it yourself) and you could help to test and forward bandwidth and be rewarded just like the skyminer owners so what the problem here ? I would have been the first person to shout scam if the development team insisted that you must buy the skyminer before you can become part of the network? Does that make sense to you?
To make situation worse and to hit the lowest of the lows, you now dragged MDL and Solar banker into the mix . Adding skyledger amongst that list just showed to me how shallow you are and probably knows nothing about the skycoin project since skyledger is part and parcel of skycoin .
Did you forget to add Spaco and Metalicoin to the mix ? Did Amnesia set in at some point when you were writing the article ?
That showed me how much you knew about skycoin project and I thought hard about replying to you but since you needed some education, I guess some one had to save you from your ignorance
Its not usually my style to come out like this but its better to keep quiet and say nothing so that people can assume you are ignorant than open your mouth and confirm it .
I am still baffled how people think the skycoin project just added names of big crypto players in their team https://www.skycoin.net/team/ just to scam people . Common sense tell you if you that, you could be sued for libel
It is a good thing what your FUD article sponsored by some fake project out there has done for the community . We have actually had more people join the group and the silent members have been very vocal and have all decided to keep a cool head and just keep working
As for JJ Jenkins, He bought 70,000 coins when sky coin was trading at 0.02 cents. You can not legislate to him how he should celebrate what has been life changing for him . You can eat your heart out if you want
Finally A friend from the group sent you a subtle message that Skycoin is a paradigm shift .it is supposed to do away with proof of work and proof of stake . He goes further to say you shouldn't buy a tesla and be confused why you couldn't fill it up with diesel
It feels like the early days of Bitcoin. Everyday, all we heard for years was "Bitcoin is a scam. Bitcoin is a scam.". If people are not complaining, it means you are irrelevant.
Whenever you create something new or try to do anything innovative, there will always be haters attacking you. That is how you know you are on the path to success.
Every stage of Bitcoin and every major crypto project was met with ridicule, doubt and attacks at every stage. You have to tell the whiners, the losers and the haters to shut up and be humble
When the attacks starts coming like this, you know something big is about to happen . Are you ready . Enjoy this ride the sky limit way
you can follow the skycoin project at
You can follow the various projects on skyledger platform at
https://www.skycoin.net
Development - https://github.com/skycoin
News Channel: https://t.me/skycoinnews
BBS Community: https://t.me/skycoinbbs
Twitter: https://twitter.com/Skycoinproject
Support: https://t.me/skycoinsupport
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In my next article I will be telling you about latest developments with the sky miner project and the rewards expected . Get a skyminer or build one and earn residual income . Become your own ISP .