Topic: [ANN][SWITCH]SwitchCoin - RARE - Coin for Investors and Traders (Read 18433 times)

Switch Coin brings many opportunities and challenges. Therefore, I hope that you will implement this project

Is the coin still alive? It has been more than 4 years, there were coins that did major projects

Switchcoin copied Insanitycoin ---->https://bitcointalk.org/index.php?topic=471166.0;all

Pity bumping my own post in hopes someone sees this and the coin launches and/or someone makes a coin with a similar concept.

No updates?

Too bad. I was actually intrigued by seeing how the concept would fare.


Since this seems to have been a scam, I'd like for someone to steal the idea and make it happen, without an IPO of course.

cmon guys you cant be that dumb .... walk away!
its like they line up to give people there $
jesus!

the pass is wrong

dunno

what is the pass?

And a nice movie of a real wallet

0.2BTC Not bad for few days of advertising

No Rewards 

But, I really like to try. Seems fun.
Where is the password for the wallet? And let's open some zero rewarded mines or hopefully a little better

PASS ?

This is not a coin that you mine it is a coin that you can only buy.

Scrypt
0 Block Reward
0 Mining Fees
180 Second Blocks
12 Hour Re-target
3 Confirmations
500,000 Coins
5% Transaction Fee which is destroyed

BOOOO

User escrow of shut the fk up! BEWARE EVERYONE DO NOT FALL FOR THIS

i think you need to fix stratum settings...

What reputation exactly is that?  You mean the bct screen name that you just created?  Oh I see..

SWITCH中国区挖矿交流总群244547403

Wow, please don't compare this to Nxt.

We don't anticipate that being a problem. Once the Investors Only forum is up and running, everyone involved will come up with quick solutions to any problems that arise. We also have many projects planned for the future of Switch Coin, this IPO is only the beginning.

The closing date is tomorrow at 10:00PM UTC.

Added to www.Thecoindesk.com - The new coin calendar

http://switch.okaypool.com/
  fee 1% 
Our pools run on Enterprise-grade, fully redundant dedicated servers. Both our website and our high difficulty stratum ports are DDOS-protected.

Total Btc invested 0.11 and you don't wanna use escrow because its unfair to those that contributed 0.11 BTC. Is there something missing here, escrow will let more people invest which will boost the quick adoption of your coin. I guess those 3 people that contributed 0.11 BTC can buy and spend it among themselves.

Last question, whats the closing date for IPO

We are not valuing our coins at a made up number and selling them. We are offering a percentage of them. The investors are the ones setting the price for Switch Coins, not us. As all investments this has its risks and its rewards and it is not for everyone. The IPO has brought in .03btc so far which translates to 6 satoshis per coin. A price that isn't set by us, it is set by the investors with the amount they've invested.

We just got the Mac Wallet online and it's available for download. The Linux wallet should be finished by tonight or tomorrow but definitely before the end of the IPO.

Escrow would have been great to use from the beginning but at this point we've decided against it. An investor brought up his concerns about us changing the terms of the IPO by switching to escrow and we decided to do what was best for our current investors.

The main problem the IPO is having is that people have spammed the thread calling us a scam and that people have given us negative trust for no reason other than to prevent people from being involved in this. Escrow won't undue the damage that these people have already done. Switching to escrow might make a few people decide to be a part of this who otherwise wouldn't have been but it will definitely tarnish our reputation with our current investors. We can't do that to our current investors in hopes of bringing in future investors.

With shitcoin from copy and paste or even coingen, a lot of newbies asked for IPO. What's the price of these shitcoins? Nothing.
It's damned.    It's just like robbing money from investors.
This has been ruining the market of altcoin.
Stop it.

Any updates??  Escrow services 

You come here to bad mouth us then you say that we're giving crypto a bad name? The Crypto Currency developers aren't the ones giving Crypto a bad name. Without developers there wouldn't be any Crypto Currency.

We tried to get a video up yesterday of the wallet but we ran into some problems so we posted the images in the meantime. In any event we got the video online today http://www.youtube.com/watch?v=r7U0yqkWvvs

AOL's only temporary until the main site is up. We've been so busy working on the Mac Wallet, the Linux wallet, the Investors only forum and talking with exchanges that we haven't had time to throw the website up.

O god ! Hopefully no one invested in this , Aol email account , pictures of a wallet ? really ?  Stop giving a bad name to crypto ...
Clark Kent /superman ...SteveMayer /SwitchCoin. Nuff said

You bring up very good points that we didn't think about. You are not the only person whose taken a risk in us and invested thus far. The terms of the IPO will remain the same as they have been and will continue to do so. We care more about the views of our current investors than we do anyone else.

We also see what YOU are doing. You act as a member of the Scam-Team

You've been trolling this thread for 2 days. You have more posts here than I do and I'm an investor.
You're hoping that everyone is too dumb to see what you're doing. I see right through you.
All you're trying to do is get in without having to deal with the risk of the devs running off with your money.
Meanwhile, me and the other investors get to sit here scammed when you and your buddies buy in risk free.
You're helping no one but yourself. Go scam people in another thread while calling yourself their savior.
That shit won't work with me.

Well, first, your profile indicates you've been here a month.  That's all I have to go on.

2nd:  You're right, that was the first post, because it walked, talked, acted & smelled like every other IPO scam that comes through here.  I called it as I saw it.

3rd:  I'm no savior.  I just find it to be doing my part for the crypto community by helping new folks (I'm not that seasoned myself, but I digress) get their feet wet, as well as learn how to not have their hard-earned money stolen from them.

4th:  The idea of escrow for an IPO:  "It's not for when the coin fails, but when the dev bails."  There is still risk involved - just not of blatant theft.  I'm VERY sorry to have ruined that thrill for you  

5th:  I have not, nor will I have, a single lick of interest in investing in this coin.  You're safe there.  I have no intention of "screwing you"  or "shitting in your mouth" (someone's seen too many German "scheisse" flicks...), I've actually just done you a favor - you can choose to view it that way or not...completely your choice, I guess.

I've been alive a lot longer than a month. I've seen some shit in my time. The worst is when someone shits in your mouth and calls it pudding.
You don't taste like pudding at all.

Your first post on this thread was a stupid troll post https://bitcointalksearch.org/topic/m.5394384

At what point did you go from Troll to your newly appointed position of Savior of the thread?

I didn't risk my btc so some wise ass punk like you could get the risk removed while claiming to be a savior.
What you're trying to do is eliminate the risk for yourself so you can screw current investors.
I'm one of those investors and you want to screw me? FUCK THAT AND FUCK YOU.

You've been around for a month, which should be long enough for you to have seen some of the scams in here, and for you to see that this (whether it is or not) REEKS of a scam.

I'm not trolling, I'm simply attempting to get clear, concise answers in order to provide other users (particularly newer ones) all they need to make a safe (or as much as it gets here), informed decision

Fuck these trolls. They all want in but they don't want to take the risk that I did.
Fuck that. When I invested I took a risk in you and now you want to let others do the same investment without the risk?
What kind of shit is that man? If you switch to escrow than I want my money back and I'm out.

Oh wow, I didn't know such a thing existed. Thank you for sending that.

I'm going to discuss this with the other devs and if we can make this work without having to delay the launch than I don't see a problem with it.

Here you go:  https://bitcointalksearch.org/topic/escrow-list-108716

No one is calling us a scam because of our idea or because of our coin. They're calling us a scam because we're doing an IPO with our coin. In less than 4 days the IPO ends and once everyone sees the happy investors and Switch Coin on exchanges, they'll stop calling us a scam. Are we willing to risk our investor's money, our reputation and our Coin's future on someone else, so that people don't call us a scam for the next 4 days?

It's the same reason we have the wallets password protected. If we don't protect them, people will say Switch Coin had an unfair launch and is a scam. If we keep them protected, people will say its because we're a scam. The difference between the two is that once the IPO is over, they'll stop calling us a scam for locking the wallets. But if we don't lock them, we'll always be known as a scam coin with an unfair launch.

This whole thing is a very tricky balance between what's good for the IPO and what's good for Switch Coin's future. We're doing what we believe is best for the future of Switch Coin, not what is necessarily best for the IPO.

With that said, we're not opposed to escrow through someone who is not only trusted by the community but someone who we trust as well. Someone who we trust with not only our investors money but the future of Switch Coin. We've never heard of Anon135 and a forum search came up with only 3 posts. 1 isn't about him and 1 post is yours. So why should we trust him with our investor's money and the future of our coin? because you're going to call us a scam if we don't? In less than 4 days you'll be over it.

Then find a reputable escrow provider on the forum to handle the IPO for this coin.  I will happily remove my negative feedback if this is arranged.

No IPO escrow, No trust.

Satoshi didn't held IPO for bitcoin  

SwitchCoin is similar to WOLF, they are both based on trust.  Switch dev find a reputable member of BTT that can confirm your identity. That's all you need to assure investor.

Why not accept escrow via a trusted member, like Anon135 is doing for exocoin? If you are an honest dev you will be okay. If you are a scammer you'll refuse the idea.

bitcoins dev is anon so u give bitcion a scam rating to?
cryptos are spose to be anon!

As I told Insanity Dev when he made his post lying about us to promote his coin, that's not a problem. We have nothing to hide. How would you like us to go about doing that?

EPIC FAIL.

Until you confirm your identity like Insanity dev did. I am giving you a SCAM RATING.

No it's not self moderated. When it's self moderated it tells you that at the top of the first post, right underneath the title. See our old thread for an example https://bitcointalksearch.org/topic/annswitchswitchcoin-rare-coin-for-investors-and-traders-484965

Of Course we guarantee that every investor will receive their coins. We didn't spend the past month working on this so we could kill our coin by doing something so ridiculous as to not send out the coins to our investors.

If you're looking for a zero risk way to obtain a stake in this IPO than you won't find it here. Our investors are taking a substantial risk while those sitting on the sidelines are not. It is precisely this risk that rewards them later on.

We've been working on Switch Coin for the past month and there is no other Switch Coin.
Yes, our coin has a deflating property to it like yours does. What your coin is severely lacking though is a professional developer. You come onto this thread and lie about our coin and our development team, two things that you know nothing about, in some lame attempt to promote your coin? Seriously?

If any investors want my personal details or the personal details of the other 2 developers involved in this, they are more than welcome to them. I looked through your thread, I noticed you didn't publicly display your personal details either. Kudos to you sir.

First, it's a blatant clone of my own coin, and secondly the user has offered zero transparency on who he is, unlike myself where several highly trusted & respected members have all my personal details and are ready to release them should I step out of line.

However, copying ideas is fine, it gives credit, thank you - and people are free to invest where they like.. there is no evidence this is, or is not, a scam.

Still multiple steps could be taken to limit liability of coin loss, none of which have been taken by this developer.

Calling it a scam because you don't like the idea? You're either 12 years old or a greedy troll trying to discourage me from investing so you can have all the riches to yourself.
Get a Life!

You can just send your bitcoins to me and I'll spend them...at least then you'll have sent them to someone who's honest about what's going to happen to your money.

Anyone who sends their bitcoins to this scam deserves to lose them.  You've all been warned multiple times

I have a weird feeling that the trolls are investing and just want to keep me from investing.

I'm going to start with .02btc and we'll see where this goes.

Switch Coin to the Moooooooooooooooooooooooonnnnnnnn!!!!!!!!!!

No that's not correct. That's based on if 100BTC in total is collected but yes you will receive 5% less coins as that 5% will be destroyed in the transfer but you won't instalose 5% of it's value. Under that example, you'll end up with 4750 coins for 1BTC. No lose in value at all and the market value for Switch Coins will far exceed the IPO value.

So , If I invest 1 BTC, I get 5000 coins ? But by the time I get those coins , i've lost 5% of them since they've been 'switched off' which means as soon as I invest, I lose 0.05 BTC or 28.75$ per BTC invested.


This is a great idea. InstaLoseYourMoneyCoin.

If i will ever be scammed again, I would rather be scammed by a great scammer not someone who just posted in bitcointalk with all words and premises.  

No website, using aol.

100% scam.

this thread seems to be self moderated.

Yes, but you haven't prevented you from dumping coins on exchange nor there is guarantee you will send any coins to investors. Trust -6, bye!

10 points for originality, 100 for credibility

You haven't followed the new IPO rules...this goes in the OP:


You can just copy and paste from here:


You're welcome

nice idea... i will watch closely

The IPO hasn't received anything yet. As soon as it does we'll start updating the thread with the total.

How much has the IPO received so far?

Yes, we don't believe that Switch Coin will replace fiat or banks or paypal. This is a coin for investors and traders. We have designed Switch Coin to have short and long term success on the open market. This is not an investment for someone who wants to use Switch Coin to buy their groceries one day. If someone wants to take it to that level than that would be great but as of yet that is not our intention.

Sure you've designed a coin that attracts a high sell price that won't deflate over time but who the hell is going to buy these coins.

The point of crypto currency is to provide a method of payment without the barriers of fiat like high merchant fees. Who would accept payment in switchcoins when they lose 5% on every transaction. That's worse than most banks and Paypal!

At the end of the day if there's no real world use for your coin it will die.

This is just a creative ponzi scheme to give profit to the founders and initial investors with no regard to the buyers that will inevitably be left holding worthless garbage.

We believe that too which is why we've designed Switch Coin like that. It's to prevent 4profit miners from being able to mine it, just to dump it at the exchanges, which would would significantly decrease the market value of Switch Coin. Imagine investing in an IPO, just for it to lose value over the upcoming weeks because 4profit miners are dumping it at the exchanges? We've designed this coin in every way possible to prevent such things.

A working infrastructure for the network is currently in place and we do have plans to improve upon it over the upcoming weeks and months.
Mining is strictly voluntary and we would welcome that from anyone although it's not necessary.

I think the investors and developers would keep it going to protect their investment...like nxt and pmc

0 block reward and 0 mining fees... have fun getting your transactions to go through when there are 0 miners because there's 0 reasons to mine it 

All Switch Coins will be divided up amongst the investors at the end of the IPO. You'll still be able to get them through the exchanges though.

I don't understand what you mean.

All BTC invested will be used to market, advertise and further develop Switch Coin.
If you're uncomfortable with the premise than please don't invest in Switch Coin but don't call us a Scam.
We haven't scammed anyone nor would we ever tarnish our reputation by doing so.

Once i can actually see some coins ill invest. Love the idea but will never do an IPO. Nor should you.

Investment? I don't think that word means what you think it means.

So if the total amount invested is 100BTC and you invested 1BTC than you will receive 1% of the Total Amount of Switch Coins, which comes to 5,000 Switch Coins.

If 100BTC was sent to you, what happens to the BTCs?

Oh....allow me answer the question above for you.

You keep the BTCs for yourself.

Another IPO scam.

Will it ever stop?

Go away, people on here have wisen up to these scams.

Switch Coin
Crypto Commodity, Community Exercise, Social Experiment
Launch Date:  3/3/2014 @ 10PM UTC

Scrypt
0 Block Reward
0 Mining Fees
180 Second Blocks
12 Hour Re-target
3 Confirmations
500,000 Coins
5% Transaction Fee which is destroyed.

About Switch Coin
There are only 500,000 Switch Coins in existence and there will never be anymore than that. From the time that the first transaction occurs, the supply of Switch Coins will be exponentially decreased until only a few remain. When Switch Coins are sent, 5% of coins transferred are Switched Off and Destroyed. The remaining 95% remain Switched On and arrive at their destination. Switch Coin has been modeled for maximum success and profitability because of this. With every transfer, the supply of coins will be decreased exponentially, causing the market cap to increase which over time we believe should result in an increased market price for Switch Coin. We believe that the very nature of destroying coins over time will exponentially increase the value and price of each and every Switch Coin. Switch Coin has been designed, created and developed for what we believe is maximum success for Short and Long Term profitability.

Exchanges
We are currently in talks with multiple exchanges about Switch Coin and we are very confident that we'll be listed before the launch. If you have an exchange and you haven't heard from us and you'd like to list Switch Coin than please contact us at [email protected]

Wallets
Switch Coin 1.2.7 Windows QT Wallet - https://mega.co.nz/#!e0BTyJRZ!wmuKlgq90jNcgIDaWf_pItKV1GlWbBu1lHUO0ERkTPQ
Mirror for Windows QT Wallet - https://www.dropbox.com/s/q09tjizlh8hrbni/SwitchCoin.zip
Switch Coin 1.4 Mac QT Wallet - https://mega.co.nz/#!ylIkzDBK!3cWcKpRX-mGwivbjXW14lclKp-Fh7N6vjuYkohG-6kg
Mirror for Mac QT Wallet - https://www.dropbox.com/s/wl6b0sdz5pn6wrh/SwitchCoin-Qt-v.1.4-MacOSX.zip

We are currently finishing up the Linux Version and it should be up here in the next day.
To ensure a fair launch, all Wallets will be stored in password protected archives until the Launch Date.

For those who can't wait to see the Windows QT...
Screenshots of the SwitchCoin Windows QT http://imgur.com/a/RoyUm
A Video of the SwitchCoin Windows QT being demoed http://www.youtube.com/watch?v=r7U0yqkWvvs

Bounties - Contact [email protected] to inquire about each
Android Wallet
Lite Wallet
Paper Wallet

IPO
If you missed your chance to get in on the ground level with other Crypto Currencies than here's your chance! From now until the Launch Date anyone and everyone can get in on Switch Coin at ground level Prices. The IPO is for shares of each Switch Coin. At the end of the IPO we'll take the total amount of BTC collected and we'll simply divide the 500,000 Coins by the Total Amount of BTC to determine the price of each coin. You will then receive your share of Switch Coins. So if the total amount invested is 100BTC and you invested 1BTC than you will receive 1% of the Total Amount of Switch Coins, which comes to 5,000 Switch Coins. So in essence the starting buying price of each Switch Coin will be set by the investors.

To get in on the IPO send the amount of BTC that you'd like to invest to 1GBB37q3JUaCDPLdG9TGRFo3PcvsWVBHzm
Then send an e-mail to [email protected] and Let us know the Date, Time, Amount of BitCoins you sent and the Transaction ID for the Transaction. Once reviewed we will manually send you confirmation of your investment.

Comments, Questions, Suggestions
Leave a Comment Here or E-mail us at [email protected]

We've closed the original thread because we accidentally made it self-moderated.
For archival purposes the original thread is located at https://bitcointalksearch.org/topic/annswitchswitchcoin-rare-coin-for-investors-and-traders-484965


Total Received from the IPO: 0.2btc
BlockChain: http://blockchain.info/address/1GBB37q3JUaCDPLdG9TGRFo3PcvsWVBHzm