The horrible English of the developer is a pretty good sign that the amount of time going towards this coin is negligible - there's no one to even proof read the posts.
Kingscrown, when you tried to pump the value of your coin 10x by doing a 10:1 split, you failed. I told you that you would, and you did. the coin is practically worthless now on the only market it trades on. I was right.
The scam comes in when you swapped yourself in for the same number of coins you had before. i.e. everyone else was the 10:1 and you were 1:1. that's a scam. I'm surprised you're still listed on bittrex.
You can't pump a coin by doing a split. The marketcap and investment can stay the exact same as it was on the market initially before the split. That doesn't increase the value and it doesn't lose any value... Unless you Dump then it loses value. If you held 400K coin and there are only 3 Million coin in existence you owned a good share of coin, so if the developer has more coin than you suddenly you have to bad mouth them? If the Dev dumps the coin goes to nil if you dump you just give cheap coin to everyone.
There is no pump either, other than people buying, I bought in to support the coin so those spikes are me, and I didn't buy my own coin since I sold it long ago, so no pump there.
Too bad you got emotional about the split, you made sure to get your coins to the exchange though and hold more coin to dump, there just isn't enough buy support for you to exit unfortunately.
Yes cryptonick, if the developer suddenly decides they don't own a large enough precentage of the coin, they have to buy it at market value, not force-hardfork the coin into nothingness. This split shows that Exclusivecoin is not a distributed cryptocurrency, it's a dictatorship full of moron plebs, led by a moron pleb, all trying to make a quick buck.
if you don't think a 10:1 split isn't to make the price seem like it went up 10x on the market then you're a waste of air. obviously that's MEANT to be the catalyst for a pump.
Forzendiablo: I wanted to manipulate the price for everyone's benefit. you would have profited as well. Now you all lose... because you all crossed me, even though I constantly appeal to logic and reason. no one will even buy the shitcoin but you anymore. sad day for this shitcoin turned scamcoin.
If this is true and it is a catalyst to pump why did you sell off and dump? The price at closing before the split was around 250 sats. This means that 10x value is 2500 sats. I bought up to that limit and that is only to make the worth what it should have been after the split. Right around 2500 sats. That was me buying and no one else. I tried to support the coin and bring it back to life. I didn't even know about your Plight or Grievance. Had I known I may not have bought in and just waited for your dump.
If everyone knows the median price the Dev is stuck at 2500 sats. No one would buy into this pump, they would get it at fair market value. It is like you think no one else can do math or realize a market is pumped. This is why you don't see any attempts to replace the price back to 2500. It is not being pumped or manipulated.
So your whole theory is out the window. You have to hit over 3000 Sats to get a better value from a 10x split. And I bought up to 250 sats prior to the split so technically it was worth less than 2000 and it is at 700 right now. It is easier to pump now for the Dev if he wanted to... Sure. But I don't think the Dev even has coin on the exchange, in fact look at the distribution it is right around the amount of coin you dumped and about 400k total coin and I bet the 37,000 wallet is yours. It looks like most of that volume was you on the exchange, you dumped your coin and blame the dev for everything, when you could have just been constructive instead and possibly made your money back with time.
That is your perception of what the Dev feels "They don't own a large enough percentage". This isn't the case. You owned a large percentage and with Cryptsy taking out so much coin all those users lost out worse than you combined.
Are you upset that you didn't have more coin than the Dev and control their market and coin?
So how else do you consolidate coin and take away Cryptsy's possibility of dumping coin and ruining the coin's market? You do what the Dev did and consolidate the coin. If the Dev has extra coin... they deserve to have it, even if it is more coin than you own, they made the coin and now must rebuild it.
Too bad you were short sighted and didn't help rebuild the coin with the Dev, feeling cheated that you didn't own the whole coin to yourself.
Now take back your accusations since there is no scam going on and anyone can read this and know what the price point for the market should be and buy accordingly. This coin was the first to offer real products for sale as I remembered, it tried to become a viable market as an Alt coin which is very difficult to do especially with people mining it at a block a second. So therein lies the other reasons for the rework of the coin and the fact that it was going to be delisted if the coin didn't comply means you would have lost everything!
You didn't think about it and let your emotions get the better of you I totally sympathize, but take back the accusations since there is no foundation for them at all...
Cryptsy going under isn't an excuse to create coins out of nothing!
The dev does not deserve to have/create extra coin if they feel like it.
This coin was first in NOTHINGI would have rather lost everything to market conditions than to BEING SCAMMED.
How long should they have waited for Cryptsy to find out?
How many people do you think held a big enough amount of coin to make it worth waiting for Cryptsy to find out?
How many days do you think the Dev had to do the swap or lose listing on Bittrex?
It costs money to do the swap too, how do you expect the Dev to pay for it and keep the coin alive? Bittrex most likely gave the Dev an Ultimatum, since the existing wallet was bloated and causing issues on their exchange. If anything the 5 Days came from Bittrex.
Do a calculation on the amount of coin you think the Dev has extra and then take the current price and figure out how many BitCoin that is, and then subtract at least 2 BitCoin to and 4 Max to keep the coin listed. I promise you it costs money to do a swap, they won't do that stuff for free.
How did you find out about the Swap? Wasn't there plans that you said you disagree with? You knew before the 5 days and anyone with a considerable stake in the coin most likely knew and had this thread bumping in the account.
I remember there were Hotels accepting Exclusive coin, how is that nothing? The market goes to nothing the coin dies and you get nothing and that is better, OK I get your mentality, I would feel the same way if I had an issue that I thought affected me so I can't blame you really. The only problem is in the end it didn't really effect you, other than you not holding the majority of the coin during PoS. The Dev should have this right anyways since they have to recoup their costs to develop the coin and need to account for a 51% hack. So it is almost like a safety precaution.
Do the math, lets see how much of a big deal it is. 3 Million coin at 700 Sats is 21 BitCoin or 12,000 dollars approx. Such a small market cap and if BitCoin becomes more expensive the price usually goes down, lets say it goes to 70 sats, it still stays at around $12,000 dollars. If the price goes up and the market gets manipulated people may not buy in anymore or set their buys at 70 sats, so the Dev would just own all the coin and buy out other peoples positions costing the Dev money only to play the market by themselves making a pittance.
It isn't even worth the time to try and scam money at that point. It is better to just let the coin redistribute and rebuild the community. Then each individual has a stake and it makes the coin perpetuate itself better. In any event the Dev could slam the market and leave, but the coin would be distributed and would still be viable. It is called a Hedge and any good crypto investor knows how to do this, that way no one would ever lose money and the community would own the coin.
Defense against a 51% attack may be the most valid reason to have more coin during PoS. This is most likely the main reason for having that much extra coin. Hate to say it but you may not have been informed about this since there is no reason to state it, as it is a necessity to keep large wallet holders like yourself from owning more than 51%.