Topic: [ANN][LIBERTYCOIN][XLB] v1.0.3.0 | X11 | 100% POS | No IPO | No Premine | - page 42. (Read 359862 times)

I fully agree it is open source.  We may be a lot safer if it wasn't and the code was not so easily picked up by coinmakers and exploited for their own ends.  I am referring to the host of coins that have failed in the past.  

I am NOT accusing Libertycoin devs of this.  I am analysing their statements and deriving information.

But you misunderstand "centralization".

It refers to the currency itself - specifically Bitcoin if you want to be picky, as they were running for 4 years before anyone else even noticed.

It does not, however, refer to the management of that coin or how any de-centralized currencies are managed - only how the coins are mined and held.  It removes the necessity for a centralized bank issuing FIAT currencies.  The creation of wealth is done by the miners themselves, not a mint controlled by governments or private investors  

Take a look at Bitcoin - is their management imploding?  Do they have shit fights in public?  No.

They are not responsible for the market, nor any of the altcoins that have arisen.

Bitcointalk - BITCOINtalk - was set up and is MODERATED.

The altcoin threads are NOT moderated and BCT are not responsible for the output.  

If any coin - ANY COIN - is substantially pre-mined or targetted by gigahash individuals or groups, the de-centralization is destroyed completely because the devs and high-order hashers become, in effect PRIVATE INVESTORS in control of the minting and supply of the coin.

Let me be clear - I am NOT accusing the devs of pre-mining or being in control of high-end hash power.  Others have made these accusations elsewhere, but I have not been one of them.  I have no idea who owns what coins or where they are.

But the fact still exists in cryptos.

Release a coin, pre-mine a few %, point pool miners at them and hammer away until the supply is eaten up.

Get that coin onto an exchange, pump it up, dump the initial pre-mine, tell users there were problems with the pools, have users screaming in the forums for their coins meanwhile collect and dump the poolmined coins and exit.

A few mining pools have been guilty of this, often for many different coins.

If you see a new coin listed and there are a flood of posts from pool operators, you may want to wonder why.

The pool I mined with gave me 100% of my mined coins.

The problems are widespread and systematic.  The exploitation is highly visible if you open your eyes and educate yourself.

And what happens to the household miner who bought a rig hoping to make a few quid who is forced to pool because of the gigahash output and is forced to become a currency trader just to pay for the running costs?

Liberty, it seems, is not for all, but for those with the biggest hammer.

Why are you encouraging him?  His self-esteem probably just shot through the roof.

Boomslang,
Well all of your negativity has worked. Congratulations. The value of the coin has plummeted again. You protected the people on that one. Now anyone invested has lost value again.
Thank you.

I think you guys nailed it! 

How would you have handled the removal?

The one doing the most heavy-handed censorship was IE--who of course, later cried when his useless spam was deleted.  

I think the communication could be a little better, but I don't understand why some people need so much hand-holding.  People need to learn to think and discern for themselves.  Obvious bullshitters and blowhards are obvious.

If i made some coin i would also made heavy cencurship..this forum has became just filled like blsh like you doing now..ok you posted about IE so DOES NOT NEED TO REPEAT IT IN 1424124124 POSTS.

Insted off doing something good this forum has became tools for day traiders ..they sell and come here to post apocalypse so that all othere to sell..when they buy then their gone until they sell again

Ah nice fit
Published bad here
EXCHANGE start dumping

What do you want? After pressure from cheap to buy?

They handled that removal in an incompetent manner.  They have handled questions and concerns with heavy handed censorship.  They have been uneven and contradictory with their communication.

They have hidden behind the concept of liberty - a concept that has been used throughout history to both inflame passions for good and to take advantage of those whose passions are inflamed by the word.

Like I said, bringing him on was a mistake.  They were momentarily conned by a con-artist.  In a year it won't matter.

The problem with that statement is that 99% of the community is incapable of improving the code and technology of the coin.  That is what the developer is supposed to do (or at least facilitate)  The community can promote, and do all of the other stuff.  there are hundreds of Open Source coins with no strong developers (cut and pasted from other open source coins) 

In order to succeed, coins need both a strong community and a strong developer.  Without both, there is only failure.

The dev knew what IE was, and brought him in anyway (it was public knowlege - if he didnt know, he was negligent or didnt care)

IE, IE's people and the general community were all the victims of the Developer.  Sure, you can be happy that a known scammer got his due (IE), but you can then look to the developer and his actions since then and judge him accordingly.  The way it looks from the outside is that he is either incompetent or malicious or both.

Libertycoin is an open source project and centralization is against crypto's principles. I do not recall Satoshi Nakamoto managing the direction of Bitcoin.  

Let me change your sentence to how I see it:

It is not in the hands of the devs to manage the output and direction of Libertycoin, it's in the hands of the community.

Boomslang is another blowhard who needs a tic-tac real bad.

This is exactly what boomslang was talking about.  You sure P0wnd him, playa!

The dev's mistake was bringing on IE in the first place.  The guy is a liar, a swindler, and a fraud.  The only reputation that was ruined was his and those of his fanboy shills.

No I am not.

My posts were responses to official statements by the devs or outraged responses to mindless, viscious posts.

I tried to stop the damage.  I tried to bring decency back to Libertycoin.  I tried to explain to people what it really means when large proportions of a monetary system are held in deposit accounts and is not in circulation, hoping for a price rise that cannot come until circulation occurs.  

It is in the hands of the devs to manage the output and direction of Libertycoin, not the community, not fudders, not fanboyz and not rational investors.  The one person who was trying to do this management is no longer involved.

However, up until his exit, everything was positive about Libertycoin and people put their money into it.

After the split, the management of media and forum output was non-existant.

The explosion of filth, hatred, malicious posts, death threats, threats of rape and murder were not controlled.  

I am taking no-ones side.  

Imagine the affect on prices if a major company's management imploded in public.  They do their in-fighting in private as they know that public outrage can irrecoverably damage both a brand and the people involved with it.  

Why do you think such things as NDA's exist?  (Non-Disclosure Agreements).  http://en.wikipedia.org/wiki/Non-disclosure_agreement

I think if boomslang knew about a better option, he would tell you.  The problem is, that cryptocurrencies are more like lottery tickets than investments.  Throwing all of your money into 1 ticket isnt the best strategy.  Perhaps buying a bunch of different tickets (coins) is a better way to go.  Or, look to the people (the developers, community, etc) to give you confidence.  The community here is great, but the developer is not.  look for a great community with a good developer.  That is a safer bet.

Just because someone directs you away from a known danger, it doesnt mean it is their responsibility to lead you to riches.

You should just be thankful that he isn't just letting you walk blindly into ruin.

The people you're trying to protect need direction. The protection is in the direction. I asked you where should we invest and you say you're not advising anyone to invest in anything. However, you are advising people to not invest in something. So, you are giving investment advice. There's a lot of risk in every investment. If people always played it safe they would never invest or do anything for that matter. And without doing anything, how safe would they be? So if you want to be a leader, lead people in a direction. If you don't want to be a leader then just let them walk off the cliff. They will at least learn something. There is also a possibility, however slim it may be, that you are wrong, and they will make a lot of money. Who knows, if not you?
Conclusion: if you won't direct, I guess they'll have to find there own direction, but don't block the path.