[ANN][AC]AsiaCoin - Relaunch - page 30.

seattletu

sr. member

Activity: 336

Merit: 250

Quote from: micryon on May 04, 2014, 04:58:49 AM

IMPORTANT

So from the block explorer (thanks for that) it looks like the dev scammer cashed out 30,130,175.27 of the premine. He did so slowly over the course of the 2 weeks, in 300-1m increments.. (to not crash the price).. smart..

With an average 1000 sat pricing, that's about 300 BTC.. ~130k USD for this scam in his pocket..

The good news:

It looks like though the rest of the premine is just sitting at address: 2gqkfhoGMLpuwfXsRrSekhBAKRwmRH8sjEg as of block 18013

http://199.231.191.241:2750/tx/3688b23d8dfa7e770697497247dcd0c037f2869495fd0e44a532c9ab9f1b28e0#i0

This means.. it's may be still possible to salvage this coin. Even if the coin takes the 30m dilution.. which is effectively 10% and then just block this address... That dilution could even be recouped by just reducing the staking % over the year to something like 50%, so that the final output can still be 360m.

There hasn't been that many coins introduced outside of the scam premine wallet address...

Anyways technically this makes it actually much easier to repair, even if you just take the dilution loss of 30m.

interesting. hope you guys can salvage it.

CryptoBull

sr. member

Activity: 336

Merit: 250

Is forking to X11 even possible?
If it is can somebody who knows the code dothe job for some bounty? If all the community donate some coins maybe somebody will take this hard task and make us all happy again

I can personaly donate 10% of my 100k !

micryon

full member

Activity: 154

Merit: 100

Quote from: Beaucoupnice on May 04, 2014, 05:11:09 AM

So you are saying MintPal have no duty whatsoever to review the legitimacy of their wares? Does a Sunday marketplace care if a kiddie porn seller sets up a stall? Does Ebay care if someone tries to sell Marijuana? Does a Car salesman care if his product crashes immediately after purchase and kills all occupants? I think MintPal has a contractual connection between us and the AC dev and as the AC dev is conspicuous in their absence, a court of law would acknowledge that MintPal has a duty of care to ensure their customers are not getting swindled.

Might I remind you that AC hasn't just dropped in price. It has disappeared from existence.

MintPal are the contractual link. Their operations must be fair and reasonable. Letting AC drop as far as they did over such a long timespan strongly suggests criminal collaboration.

In the real, and regulated economy there are laws and consequences.. if Mintpal or any of the other exchanges were operating in the real economy... (or if anyone big enough cared).. yeah they'd go down, or at least be slapped with penalties. Not profit from other's misery.

However, this is the crypto economy, and it's the alt crypto economy on top of that... it's still kind of underground, completely unregulated.

Morally.. it's not right.. I hope they feel bad about it (though likely not)... but outside of that there's no laws that govern here... that's just the unfortunate reality.

Collegestudent

hero member

Activity: 518

Merit: 500

The blockchain is the future

Quote from: Klarisskin on May 04, 2014, 05:12:17 AM

Quote from: micryon on May 04, 2014, 04:58:49 AM

IMPORTANT

So from the block explorer (thanks for that) it looks like the dev scammer cashed out 30,130,175.27 of the premine. He did so slowly over the course of the 2 weeks, in 300-1m increments.. (to not crash the price).. smart..

With an average 1000 sat pricing, that's about 300 BTC.. ~130k USD for this scam in his pocket..

The good news:

It looks like though the rest of the premine is just sitting at address: 2gqkfhoGMLpuwfXsRrSekhBAKRwmRH8sjEg as of block 18013

http://199.231.191.241:2750/tx/3688b23d8dfa7e770697497247dcd0c037f2869495fd0e44a532c9ab9f1b28e0#i0

This means.. it's may be still possible to salvage this coin. Even if the coin takes the 30m dilution.. which is effectively 10% and then just block this address... That dilution could even be recouped by just reducing the staking % over the year to something like 50%, so that the final output can still be 360m.

There hasn't been that many coins introduced outside of the scam premine wallet address...

Anyways technically this makes it actually much easier to repair, even if you just take the dilution loss of 30m.

Excellent news and analysis! Hopefully, community will take over this coin and make a hardfork locking that address out. 30 million unauthorized dilution is not a big problem.

P.S.: 18K AC bagholder @ Mintpal.

I agree, you seem pretty capable and so far we have 190 million "legitment" coins. If we can reduce the stake pos to 10% that would add much more value and overall much less inflation. Whos up for it? You think u can become the new dev? I have donations, bounties etc ready

Xuorc

full member

Activity: 195

Merit: 100

Twitter page has gone ... https://twitter.com/AsiaCoinProject

Xuorc

full member

Activity: 195

Merit: 100

Quote from: micryon on May 04, 2014, 04:58:49 AM

IMPORTANT

So from the block explorer (thanks for that) it looks like the dev scammer cashed out 30,130,175.27 of the premine. He did so slowly over the course of the 2 weeks, in 300-1m increments.. (to not crash the price).. smart..

With an average 1000 sat pricing, that's about 300 BTC.. ~130k USD for this scam in his pocket..

The good news:

It looks like though the rest of the premine is just sitting at address: 2gqkfhoGMLpuwfXsRrSekhBAKRwmRH8sjEg as of block 18013

http://199.231.191.241:2750/tx/3688b23d8dfa7e770697497247dcd0c037f2869495fd0e44a532c9ab9f1b28e0#i0

This means.. it's may be still possible to salvage this coin. Even if the coin takes the 30m dilution.. which is effectively 10% and then just block this address... That dilution could even be recouped by just reducing the staking % over the year to something like 50%, so that the final output can still be 360m.

There hasn't been that many coins introduced outside of the scam premine wallet address...

Anyways technically this makes it actually much easier to repair, even if you just take the dilution loss of 30m.

Morning all ... OK so this sounds a bit more positive. Thank you micryon for your time and effort on this. Do you sleep, you seem to be on here helping permanently, much appreciated Grin

Klarisskin

full member

Activity: 138

Merit: 100

Quote from: micryon on May 04, 2014, 04:58:49 AM

IMPORTANT

So from the block explorer (thanks for that) it looks like the dev scammer cashed out 30,130,175.27 of the premine. He did so slowly over the course of the 2 weeks, in 300-1m increments.. (to not crash the price).. smart..

With an average 1000 sat pricing, that's about 300 BTC.. ~130k USD for this scam in his pocket..

The good news:

It looks like though the rest of the premine is just sitting at address: 2gqkfhoGMLpuwfXsRrSekhBAKRwmRH8sjEg as of block 18013

http://199.231.191.241:2750/tx/3688b23d8dfa7e770697497247dcd0c037f2869495fd0e44a532c9ab9f1b28e0#i0

This means.. it's may be still possible to salvage this coin. Even if the coin takes the 30m dilution.. which is effectively 10% and then just block this address... That dilution could even be recouped by just reducing the staking % over the year to something like 50%, so that the final output can still be 360m.

There hasn't been that many coins introduced outside of the scam premine wallet address...

Anyways technically this makes it actually much easier to repair, even if you just take the dilution loss of 30m.

Excellent news and analysis! Hopefully, community will take over this coin and make a hardfork locking that address out. 30 million unauthorized dilution is not a big problem.

P.S.: 18K AC bagholder @ Mintpal.

Collegestudent

hero member

Activity: 518

Merit: 500

The blockchain is the future

I also called Summercoin dev, seeing his great coding skills fixing the summercoin POS

Beaucoupnice

newbie

Activity: 24

Merit: 0

Quote from: rudius on May 04, 2014, 04:50:38 AM

Quote from: Beaucoupnice on May 04, 2014, 04:43:52 AM

So it turns out a forensic look into the code of various other coins has revealed more damn scamming.

How can anyone trust cryptocurrency or exchanges like Mintpal again when the industry is rife with crooks.

See here: https://bitcointalksearch.org/topic/ann-potential-premine-scam-coins-rainbowcoin-evercoin-595056

Why on earth attacking mintpal? If you are buying, it s at your own risk. The code is open source. They don t have to check anything. They take responsability for their exchange that s all. But if you want to buy a coin, that s on you. They are not at fault here.

Stop looking for someone to take the blame. You are only to blame. You!

FFS, people don t take responsability anymore.
Next time, you buy a coin, put a bounty together and ask someone with good reputation to review the code. In fact, it is as necessary as escrows.

So you are saying MintPal have no duty whatsoever to review the legitimacy of their wares? Does a Sunday marketplace care if a kiddie porn seller sets up a stall? Does Ebay care if someone tries to sell Marijuana? Does a Car salesman care if his product crashes immediately after purchase and kills all occupants? I think MintPal has a contractual connection between us and the AC dev and as the AC dev is conspicuous in their absence, a court of law would acknowledge that MintPal has a duty of care to ensure their customers are not getting swindled.

Might I remind you that AC hasn't just dropped in price. It has disappeared from existence.

MintPal are the contractual link. Their operations must be fair and reasonable. Letting AC drop as far as they did over such a long timespan strongly suggests criminal collaboration.

Ho

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Add me also ~5K on Cryptsy

Collegestudent

hero member

Activity: 518

Merit: 500

The blockchain is the future

Quote from: 3xk0pt3r on May 04, 2014, 05:07:25 AM

Hi there,

I've been offline for few days and I don't get what's happening rigth now.

Theasiacoin website is down, AC is no longer listed on mintpal or cryptsy.

I'm holding 75k AC in my wallet, am I save or what?
Where do I change bagholded AC for AC2 ?

Do I need to be added to the list too? What's that list about anyway?

Sorry for dumb questions, but if somebody give me a short answer, I'll really appreciate it.

Thanks

Its like a big FUD again on a different coin this time. Altho i assume we have to et more ppl to make it survive

silencesilence

legendary

Activity: 1120

Merit: 1000

Quote from: Beaucoupnice on May 04, 2014, 04:59:22 AM

MintPal tell me they removed AC as soon as they were made aware of the hidden block. It's amazing how the price had to drop to the centre of the earth before anything was done. Sounds dodgey to me.

MintPal also claim they have no duty to audit the code associated with coins. Perhaps they should. Perhaps more should be expected from such places.

MintPal go on to claim there has never been any reason to mistrust AsiaCoin up until last night, although this thread does suggest otherwise. And this thread was the first thing that MintPal directed me to when I raised my issues.

Ladies and Gentlemen, I give you MintPal, the friendly exchange that are here to help. Help themselves to all your hard earned money. Fuck you MintPal. Fuck you cryptocurrency.

they received huge amounts of coin to add, they are one of the exchanges that tolerate only Pump and dump coins

Unseen know what volumes is too UP are there and exchange a few months, there is no year of its opening, this is the false market of all time

Many quality coins with very good developers are not added to it because they do not pay to Mintpal

they sold their coins took the money all through transactions, not by accident it exchange volume was the greatest ... I'm sure that the exchange is associated with the largest groups in the crypto black market and all new coins of this common market

RIP MINTPAL

Collegestudent

hero member

Activity: 518

Merit: 500

The blockchain is the future

Im calling the mogonzo and rat4 dev of both BC and WC to help. Please be polite.

3xk0pt3r

newbie

Activity: 42

Merit: 0

Hi there,

I've been offline for few days and I don't get what's happening rigth now.

Theasiacoin website is down, AC is no longer listed on mintpal or cryptsy.

I'm holding 75k AC in my wallet, am I save or what?
Where do I change bagholded AC for AC2 ?

Do I need to be added to the list too? What's that list about anyway?

Sorry for dumb questions, but if somebody give me a short answer, I'll really appreciate it.

Thanks

rudius

member

Activity: 84

Merit: 10

Quote from: Rogier92 on May 04, 2014, 05:01:43 AM

Quote from: rudius on May 04, 2014, 04:50:38 AM

Quote from: Beaucoupnice on May 04, 2014, 04:43:52 AM

So it turns out a forensic look into the code of various other coins has revealed more damn scamming.

How can anyone trust cryptocurrency or exchanges like Mintpal again when the industry is rife with crooks.

See here: https://bitcointalksearch.org/topic/ann-potential-premine-scam-coins-rainbowcoin-evercoin-595056

Why on earth attacking mintpal? If you are buying, it s at your own risk. The code is open source. They don t have to check anything. They take responsability for their exchange that s all. But if you want to buy a coin, that s on you. They are not at fault here.

Stop looking for someone to take the blame. You are only to blame. You!

FFS, people don t take responsability anymore.
Next time, you buy a coin, put a bounty together and ask someone with good reputation to review the code. In fact, it is as necessary as escrows.

Mintpal should check out the code before adding it. Where's the 0,15% trade fee for?
I dont know shit about coding

Why do you think i added my last line. You can t code, but learn to read.

edit: of what i m reading, https://bitcointalksearch.org/user/micryon-218684 aka mycrion will be glad to help.

amarian12

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https://www.massict.com/

Add me also ~20K on Cryptsy

rudius

member

Activity: 84

Merit: 10

Quote from: Beaucoupnice on May 04, 2014, 04:59:22 AM

MintPal tell me they removed AC as soon as they were made aware of the hidden block. It's amazing how the price had to drop to the centre of the earth before anything was done. Sounds dodgey to me.

MintPal also claim they have no duty to audit the code associated with coins. Perhaps they should. Perhaps more should be expected from such places.

MintPal go on to claim there has never been any reason to mistrust AsiaCoin up until last night, although this thread does suggest otherwise. And this thread was the first thing that MintPal directed me to when I raised my issues.

Ladies and Gentlemen, I give you MintPal, the friendly exchange that are here to help. Help themselves to all your hard earned money. Fuck you MintPal. Fuck you cryptocurrency.

yeah, Go back to the stock market. And good luck with the Fed selling his premine. I guess you go from shitcoin to shitcoin.

osin72

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Activity: 38

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Please add me. i have 14.6K

Rogier92

newbie

Activity: 24

Merit: 0

Quote from: rudius on May 04, 2014, 04:50:38 AM

Quote from: Beaucoupnice on May 04, 2014, 04:43:52 AM

So it turns out a forensic look into the code of various other coins has revealed more damn scamming.

How can anyone trust cryptocurrency or exchanges like Mintpal again when the industry is rife with crooks.

See here: https://bitcointalksearch.org/topic/ann-potential-premine-scam-coins-rainbowcoin-evercoin-595056

Why on earth attacking mintpal? If you are buying, it s at your own risk. The code is open source. They don t have to check anything. They take responsability for their exchange that s all. But if you want to buy a coin, that s on you. They are not at fault here.

Stop looking for someone to take the blame. You are only to blame. You!

FFS, people don t take responsability anymore.
Next time, you buy a coin, put a bounty together and ask someone with good reputation to review the code. In fact, it is as necessary as escrows.

Mintpal should check out the code before adding it. Where's the 0,15% trade fee for?
I dont know shit about coding

mullick

legendary

Activity: 1064

Merit: 1002

Quote from: micryon on May 04, 2014, 04:58:49 AM

IMPORTANT

So from the block explorer (thanks for that)

It looks like though the rest of the premine is just sitting at address: 2gqkfhoGMLpuwfXsRrSekhBAKRwmRH8sjEg as of block 18013

http://199.231.191.241:2750/tx/3688b23d8dfa7e770697497247dcd0c037f2869495fd0e44a532c9ab9f1b28e0#i0

Your welcome

Dont forget the addresses are not displayed correctly. Ill update that in the am

Topic: [ANN][AC]AsiaCoin - Relaunch - page 30. (Read 401191 times)