[Translation] An obituary of a virtual currency project

This article was written on November 25, 2016, so it’s a little old, but to share information and for knowledge growth I’ve translated it into English and left the format as HTML.

An obituary of a certain cryptocurrency project…

The project died and the price became garbage, but the coin continues to live, which is a consequence of being decentralized.


https://coinmarketcap.com/currencies/neucoin/#charts

This is a negative story, but if your tear ducts are unusually weak, prepare a handkerchief and read on…

Latest information on the NeuCoin project

The foundation announced that it would stop supporting NeuCoin’s services, dispose of the remaining coins, and dissolve the organization.

About three years since the NeuCoin project began, the founding team and NeuCoin Foundation concluded the following: a plan to create a major consumer-driven digital currency that distributes tokens to all participants who promote growth and adoption—consumers, service providers, coin adoption partners, miners, developers, and others—was deemed unachievable with the current team, structure, and resources.

From the low trading volume and low value of NeuCoin on exchanges, it’s clear that the crypto community did not provide as much support for the project as anticipated. However, a bigger problem turned out to be significant fraud related to the token distribution “freemium” model.