Topic: [ANN] ION [ION] | POS 3.0 | Mobile Gaming | Join the ionomy today! - page 169. (Read 473123 times)

For those out there without a linkd acc. Here is a good summary of the Garza situation.
https://motherboard.vice.com/en_us/article/josh-garza-bitcoin-ponzi-scheme-10-million-sec

Franz, you brought up an interesting observation about Matlack and Garza. I feel I should should share my own.
What do you think about Matlack being labeled the CHIEF STRATEGIST for Ionomy? Yet you won't find him listed on the Ionomy LLC's.

Hey ION and XPY friends! When we warned you about the GAW scam, the Paycoin lies and the non-existing Hashlets, you called us "trolls" and "fudsters". Now your former leader Homero Josh Garza a.k.a. GAWCEO just pleaded guilty.
https://www.linkedin.com/pulse/crypto-criminal-josh-garza-pleads-guilty-jane-kreisman

The thief of $20M through GAW Miners, Hashlets and Paycoin, has finally admitted his guilt and accepted a plea deal with the US Department of Justice, the FBI and the SEC. What do you think about that?

Here is a little reminder that your new leader, ION creator Adam Huey Matlack, was Josh Garza's best buddy in church and still defended the fraud even when everyone knew what was going on:
http://archive.is/pEsCb
 

The implication by Sharky the other day that Crypto Gravity is an 'in depth' game was one of the funniest things I think I've read on here. As much as the hardcore followers on the slack merrily jizz over their precious coin shitters master nodes and the price and order book on bittrex, the reality is that without games that are a hell of a lot better -- and I mean a hell of a lot better -- this project will fail.

Any other exchanges being worked on?

$20? Or is it $160 "cuz" they swapped XPY to ION 8:1 

I'm sure it's all FUD though. The whales told us the game is "in-depth" and the guys are "nice".

There is talk on slack that a bunch of the loyal Ionites deleted the game from their phones cause they didn't like it. I have a feeling that there is a bunch of people just waiting for their exit price to make their XOY holdings while again.

Sure, my horizons are too limited to see that xpy.io and Genesis are so brilliant, and putting them together is brilliant squared.

I guess I'm gonna have to cry myself to sleep again tonight, clutching my slow obsolete bitcoins.


What were the "major issues"? What you're saying is basically "they successfully cloned a coin", fixing a bug hardly counts as new and innovative technology.

The coin was 100% premined, i.e. 100% of the initial supply was in the hands of the "team" with no chance for anyone else to mine any of it. Which part of this you're trying to deny?

They sold some of those coins in advance (the ICO and the XPY swap). That's how premines work. Some nice guys make coins out of thin air and sell them. Can be used for good (financing development) or for bad (pissing away under false promises) and ionomy is firmly in the latter category, what with Gravity's smashing success and all.

So 5,900,0000 of the initial coin supply of 10,900,000 is small? Now add in the ION they have been staking with these coins. Since April 10th just one of their addresses has been averaging 4,743 IONs per day. I don't understand why anyone would even think about buying IONs when so many are created out of thin air.

What suchmoon was quoted as saying was correct.

It is a clone of transfer coin for its mk2 inception.

It was also a 100% premined coin. A small percent of that premine went toxpy conversion but it doesn't change the blockchain proof that the initial allocation of the coin was all a premine i.e. 100%. The masternodes etc generate coins after that... but that is based on the premine coins which generate more.

If you look at the amounts in the initial premine the majority went to the team. The rewards so far given away for bounties are quite small i'd honestly guess around 1% if that. Also the team is running masternodes etc to increase holdings competing against the purchasing base.

That's the truth. State why this is incorrect and back it up Korvas because your comment about suchmoons statement being full of shit I I believe completely wrong.

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Big... all coins initially were premined. A premine means the initial mine before the normal operation. Coins that don't have a premine have a block reward from the get go. Ion was 100% premined. Some did go to xpy conversion but it was still premined... to ignore this statement means you'd prefer logical fallacies to reality. Also compared to the amount given to xpy trade in and purchase the team ownership was enormous..... The team also commits the premine they have to masternodes etc so competes against their user base even the ones they sold ico coins to. Its a bit double dipping greedy. And the bounties... well not much has been paid in the way of that from what I see.

Do you understand whats meant by premine now? A premine doesn't equate to no future coins made its simply the mine before normal mining.. ion has no mining only staking and masternodes so it relies on the premine to generate new coins and move the blockchain along. The team owns the majority of that movement.

There is/has been lots of dev going on since the fork, hell we fixed some major issues with transfer coin that they adapted.  You state that its a 100% pre-mined, wouldnt that mean there are no more coins to be staked?  There was a chunk that were pre-mined for development and bounty's, but was a small amount compared to the total coin count.

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You are simply the shit show of bct. Pull the stick out of your ass and try expanding your horizons. The team sold the mining contract with the warning that contracts would be cancelled if not profitable.  If one cant read the terms then thats on them.

I'm sorry that my photoshopped opinion from a year ago didn't meet your high standards, and still doesn't a year later. Perhaps I'm not cut out to be a deluded bagholder, so sad.

And yes, ION is a transfercoin clone and is 100% premined. Do you have any proof to the contrary?

The whitepaper you linked to confirms the 100% premine. Github confirms transfercoin fork:

https://github.com/ionomy/ion

My point is you were full of shit a year ago and a year later your still full of shit 

ION is a 100% premined transfercoin clone...... come on don't be such a dip shit you can do better than that

https://github.com/ionomy/ion/wiki/ION-Technical-Whitepaper 

But they're nice

The "team" controlled 75% of the original supply, probably more depending on how much of their own XPY they converted.

Math here: https://bitcointalksearch.org/topic/m.16554577

They don't believe in escrow or cold wallets so they've been staking most if not all of it, meaning they likely control 75%+ of the current supply too.

Abysmal. Excellent word, underused in my opinion. Suits the success to date of Crapto Gravity down to the ground, I'd say.

What's your point and who's "nuff"?

I think it's truly amazing that a year later all they've really done is a somewhat working wallet, although it took two clones to achieve that.

The game (singular) seems to be shit, judging by abysmal levels of interest.

I'm sure that's not what you were trying to say with that screenshot though. What is it then? Use full sentences.


Reward is going down to 8.5 ION in the next few weeks.

And no, there is nothing special about the tech. It's a 100%-premined transfercoin clone.

What % of the total coin supply does the ION "team" own? And are these coins staking? That should really say it all.

1: 19.5 Months your MN makes $400 a month. At the current price ove $7800 per masternode (All these prices changes on a per min basics)
2: ((Total Block per day X CurrentMasterNodeRate (11.5) ) / TotalMasterNodes ) * Price Per Ion
3-4: http://masternodes.ionomy.com
5: I dont know much about the tech it self maybe someone else can answer that.

1. What is ROI of masternode?
2. What is masternode earning calculation formula?
3. Is there masternode stats page?
4. How many masternode exist?
5. What kind of unique technology is here in comparison to Dash or PIVX and masternode?

Josh wasn't the first either for them.


Why stop doing something that's proven to work on BCT and other forums/media?
They have an app/game that can fleece users of not just their funds but something more important to them, new users/ids to exploit.
If you join either the game or the slack channel, they can attempt to trace or threaten you. Which has been done already here and in GAW.
Just read the MOD chat logs from GAWminers, they did there as well.

Two independent UK LLC shells this time around for soft protection and another fall guy (take a guess who) for when they need to run again.
Both held by UK citizens.
Both don't have any of the US personal on them either. 
This allows Adam and Colin to appear separate on paper while still controlling the coin, platform, and anything they want to do.
Its a good tax evasion tactic and still allows them to commit digital fraud.

Its a good circus shit-show tent in my opinion.
It won't stop until it tears down again.


   
Soon™