I pointed the name server back at the pool today and I was taken down within minutes.
Yeah, CryptoBuck (BUK), CosmoCoin (CMC), and the Chinese exchange that accepted BUK the day after its release btcltc.com are probably all the same group of people. It's kind of obvious, IMHO. I could be wrong and of course I have no proof, it's just a hunch. And if I'm wrong I'll apologize, but it's very shady behavior. But it goes to show, if you want to invest in a coin run by a newb avatar on a forum, then don't be surprised if you get screwed in the end and there's no one to be held accountable.
-Merc
A couple days after I posted the above msg, CMC lost about 70% of its value and btcltc.com completely modified their exchange. Previously their exchange rates were mostly versus CMC but now their rates are the standard BTC and LTC rates. I just wanted to make sure this didn't go unnoticed. These forum avatars aren't fooling anybody...
-Merc
Wait a minute, so you're saying BUK is a Chinese plant? What about COL, that coin got listed on bctltc and nowhere else? What do you think about COL? Or ADT for that matter, as I've heard IFC and ADT are Russian schemes.
I agree we're bound to get Chinese, Russian and other coins trying to game the system for quick profits before regulation catches up with this new industry but I'm not sure it's gonna be this easy to spot. The cosmos coin drop of 70% is definitely odd, especially the Chinese site was using it as a base currency. That right there should have gave it away.
One very odd thing I'll say about BUK is that it's trading very high on bctltc (.010101 LTC) given its a really new coin and its not listed on any major exchanges or in the US. I expected to see a much lower price that what it's trading at, and the first thing that came to my mind was that the price was being gamed.
Good call on CMC. Look forward to seeing what you think of COL and other coins.
Thanks!