When the words “scam coin” come to mind (I prefer the term shitcoin, myself), cryptocurrencies like BitConnect and Bitpetite come to mind – notorious blockchain-based projects that pretty much went up in flames after they were exposed. You certainly don’t see them in the top 100 cryptocurrency charts, but that list isn’t necessarily free of shitcoins. Yes, I am talking about Hcash (HSR) – which was formerly named Hshare (HSR), as it is still referred to on some exchanges.
For months upon months, cryptocurrency social media has known about the shadiness of this coin. By the way, I want to say thanks to this Reddit user and this follow-up Reddit user who both break down really well exactly how this cryptoucurrency is the opposite of honest and legitimate.
Hcash, Hshare – whatever it is – sure looks fancy from the outside
If you check out their website, everything seems super professional – a lot of money definitely went into this design. Heck, the company has ballooned its market cap into the hundreds of billions, so they’ve got plenty to spend in that department.
The fact that this coin is also in the top 100 – and even rising in value today, for some unknown reason. Compared to its price 24 hours ago, HSR is up 14.3% at the time of writing. I say unknown because, other than the general regulatory friendliness toward the crypto market as of late, there is no possible explanation for this boost.
If we look at what this technology actually presents and go into further detail about how this cryptocurrency came to be, the case for it as a good investment really falls apart.
Hcash is dodgy for a number of reasons
Hcash (HSR) has been trading since about August, and it has even gotten as high as the low 20s on CoinMarketCap. But there are a ton of sketchy things about this whole project. Most of it has to do with stone cold plagiarism.
As a Reddit user pointed out, HSR’s “projects” are just copy and paste jobs from Decred (DCR) – which is ranked 41st most valuable at the moment. Take a look below:
All the stuff in the photo above are literally copy and pasted from tools built by the people who created Decred (DCR). Decred’s DCRD was completely ripped off to make HCASHD.
It doesn’t end there – the entire website of the former Hshare was copied from City of Zion. They even accidentally left the City of Zion logo on the corner of their website carelessly for a while before changing it.
Their online presence is also shady – hardly any activity on GitHub or their dedicated subReddit (if you are a crypto fan, you know how weird that is.) Oh, and their Slack is reportedly really difficult to join and takes forever.
It’s just a bunch of red flags – and people have been pointing this out for MONTHS. How is it still ranked so high and gaining so much in value today?
Sure EOS (EOS) was overhyped, and sure TRON (TRX) plagiarized a lot of their whitepaper, and then Waltonchain (WTC) got caught having a fake giveaway – but those sins don’t even compare to what Hcash – or Hshare – has managed to pull off.
It seems like people will literally buy anything.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.