Did anyone notice there's a project called "SiaCoinCash" mimicking Siacoin?

  • I was on an exchange and they had a voting process for coins to get listed. However I couldn't help but notice that there was a project entitled "SiaCoinCash". It's an ERC20 token but it amazes me how they didn't even try to create something that's actually original or useful. From face value it appears as though they literally just copied and pasted Siacoin's mission statement and didn't even add any improvements or functioning features. I thought it was a fork when I originally saw it, but it's not even that. Doesn't even have it's own blockchain. However what confuses me is why someone would go out their way to recreate Siacoin with less capabilities instead of just supporting the original project?

    I'm not here to bash other projects, and if someone wants to create another storage coin for whatever reason then that's fine. However I just don't understand why a honest person who wants to promote a legitimate project would name their project after one that already exist instead of support the original project then on top of that it's not even a fork.

    Regardless I just wanted to know is anyone else has heard of this and what you all's thoughts are on it?

  • @AnimaterCreator

    I think you've probably answered your own question: "I just don't understand why a [sic] honest person..."

    The penultimate answer to nearly every question is "money" (and "power", which are usually synonymous.) The likely reason to impersonate a legitimate project with no intent to fork is to siphon off money from naive investors.

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