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Rucoin is a "Russian Bitcoin clone" (see announcement thread).

Besides the fact the website is in Russian, what other characteristics does this coin have?

Is it just a 1-to-1 Bitcoin clone? Is mining limited to clients from Russia? This post claims that

Rucoin provides some tools functionally similar to central bank and the stabilization fund, whose main task - to make the course of crypto-currency stable, predictable and guaranteed.

Does anyone know how they claim this is achieved ... or in other words, how exactly is Rucoin different than Bitcoin?

  • Hmm, looks like a centralized crypto-currency. Probably it is close-source and only the owner can generate the coins, while also running the only exchange. – ThePiachu Nov 7 '11 at 15:59
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The "author" (if you can call a blatant 1:1 copy of Bitcoin authoring) has not backed up those claims.

The website provides no further explanation and a lot of vague nonsensical "answers"

A crude but human translated English version of Russian homepage is here: https://bitcointalk.org/index.php?topic=48582.msg586451#msg586451

What is the specifics of the Rucoin? In short - more stable course

It is difficult to talk about stability when the system is at the forefront of the struggle of interests. Constant fierce struggle of interests causes course instability, which creates a number of disadvantages for practical use of such currency. Another thing - Rucoin. This project was not born on the battlefields. At the heart of Rucoin - ready, proven solutions and lessons learned.

Those "solutions" and "lessons" are never explained except with vague double speak.

Conceptually, Rucoin - this is a layer of stability and security, when, instead of blind hope for "the invisible hand of market" principles are used strict currency regulations. Instead, to give the exchange rate at the games speculators, who for the sake of their earnings will generate most unpredictable chatter in the system, Rucoin provides some tools functionally similar to central bank and the stabilization fund, whose main task - to make the course of crypto-currency stable, predictable and guaranteed .

Rucoin, unlike Bitcoin, totally unsuitable for currency speculators, but it is very suitable for the conservation and savings to ensure a stable and reliable infrastructure of payment systems new generation.

In addition, Rucoin towards Bitcoin may well serve as a reserve currency, into which can be converted part of the funds for the insurance of all kinds of surprises.

So the author claims to implement a central bank and stabilization fund but makes no mention on how that is possible or how it will be implemented. Given that exchange and a direct to cash mining pool were launch prior to the actual block chain my suspicion is this is merely a poorly designed pump and dump.

Since the launch the author has not provided any further information on how the claims will be implemented. Based on the volatility seen at http://btc-e.com (largest exchange offering RUC trades) there has been no "currency regulation", "central bank" action or effective use of this so far unseen "stabilization fund".

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