TwinWinNerD, you already demonstrated you have no idea what you're talking about so resorting to name calling doesn't win you anything.
-bm
Topic: Big scam in NXT hundreds of BTC stolen with a one post - page 13. (Read 16818 times)
it doesn't cost that much, so 'great lengths' isn't quite accurate here.
eg. the fees on BTER for NXT is 0.18%. Thus if the price was slipping, I simply put out a small sale of say 500 NXT and then take that sale with another account. Cost here is roughly 9 NXT which is a few cents USD. A relatively small operation could sustain that for months. Of course if such an operation were to detect that people were no longer buying in, they would shut down the operation, let the price fall and get in a new round of people. Look for support offers of much larger amounts. If you are looking to get out of a pump and dump, just catch those support orders which they don't expect people to take(because they are below the apparent 'market price'). To take those order you need to be convinced you're in a pump and dump.
-bm
eg. the fees on BTER for NXT is 0.18%. Thus if the price was slipping, I simply put out a small sale of say 500 NXT and then take that sale with another account. Cost here is roughly 9 NXT which is a few cents USD. A relatively small operation could sustain that for months. Of course if such an operation were to detect that people were no longer buying in, they would shut down the operation, let the price fall and get in a new round of people. Look for support offers of much larger amounts. If you are looking to get out of a pump and dump, just catch those support orders which they don't expect people to take(because they are below the apparent 'market price'). To take those order you need to be convinced you're in a pump and dump.
-bm
That would only increase volume, not more...
And as you said, we have low volume, so no manipulation there.
What your are trying to say maybe is, that the big holders made a syndicate to manipulate the price by artificially decrease the money supply. But even that only works if all agree, typical prisoner dilemma.
HA!
You clearly don't understand what Im saying.
It doesn't increase volume. It's generally not possible to increase volume without spending money. It is possible to create an illusory trading price by creating low volume orders that you intend to take yourself(only cost here is the transaction fee).
A common tactic to is create 'support orders' which are larger orders below the market price to make it appear as though there is demand. These orders are never taken and if the apparent price gets near the 'buy wall' then they take it down and move it. One way to beat this pattern, given that you're convinced it's being pumped, is to grab those large orders before they can take it down. If you do this enough the pumping operation must shut down.
-bm
I mean I knew that you were not up-to speed on things, but now you are clearly going into the "delustional trader" territory. Every price rise is a pump and every decline is a dump. Every market must be manipulated in a grand fashion right?
Yeah NXT must be like all the other shitcopypastcoins, right?
Nothing sets NXT apart from those, right?
Most people hold NXT because they think the technology is superior. People that are constantly talking about the price don't give a shit about the technology, you seem that way.
a good sign that the pumping is ending is the support walls are VERY FAR from the apparent ticker price.
-bm
-bm
it doesn't cost that much, so 'great lengths' isn't quite accurate here.
eg. the fees on BTER for NXT is 0.18%. Thus if the price was slipping, I simply put out a small sale of say 500 NXT and then take that sale with another account. Cost here is roughly 9 NXT which is a few cents USD. A relatively small operation could sustain that for months. Of course if such an operation were to detect that people were no longer buying in, they would shut down the operation, let the price fall and get in a new round of people. Look for support offers of much larger amounts. If you are looking to get out of a pump and dump, just catch those support orders which they don't expect people to take(because they are below the apparent 'market price'). To take those order you need to be convinced you're in a pump and dump.
-bm
eg. the fees on BTER for NXT is 0.18%. Thus if the price was slipping, I simply put out a small sale of say 500 NXT and then take that sale with another account. Cost here is roughly 9 NXT which is a few cents USD. A relatively small operation could sustain that for months. Of course if such an operation were to detect that people were no longer buying in, they would shut down the operation, let the price fall and get in a new round of people. Look for support offers of much larger amounts. If you are looking to get out of a pump and dump, just catch those support orders which they don't expect people to take(because they are below the apparent 'market price'). To take those order you need to be convinced you're in a pump and dump.
-bm
That would only increase volume, not more...
And as you said, we have low volume, so no manipulation there.
What your are trying to say maybe is, that the big holders made a syndicate to manipulate the price by artificially decrease the money supply. But even that only works if all agree, typical prisoner dilemma.
HA!
You clearly don't understand what Im saying.
It doesn't increase volume. It's generally not possible to increase volume without spending money. It is possible to create an illusory trading price by creating low volume orders that you intend to take yourself(only cost here is the transaction fee).
A common tactic to is create 'support orders' which are larger orders below the market price to make it appear as though there is demand. These orders are never taken and if the apparent price gets near the 'buy wall' then they take it down and move it. One way to beat this pattern, given that you're convinced it's being pumped, is to grab those large orders before they can take it down. If you do this enough the pumping operation must shut down.
-bm
it doesn't cost that much, so 'great lengths' isn't quite accurate here.
eg. the fees on BTER for NXT is 0.18%. Thus if the price was slipping, I simply put out a small sale of say 500 NXT and then take that sale with another account. Cost here is roughly 9 NXT which is a few cents USD. A relatively small operation could sustain that for months. Of course if such an operation were to detect that people were no longer buying in, they would shut down the operation, let the price fall and get in a new round of people. Look for support offers of much larger amounts. If you are looking to get out of a pump and dump, just catch those support orders which they don't expect people to take(because they are below the apparent 'market price'). To take those order you need to be convinced you're in a pump and dump.
-bm
eg. the fees on BTER for NXT is 0.18%. Thus if the price was slipping, I simply put out a small sale of say 500 NXT and then take that sale with another account. Cost here is roughly 9 NXT which is a few cents USD. A relatively small operation could sustain that for months. Of course if such an operation were to detect that people were no longer buying in, they would shut down the operation, let the price fall and get in a new round of people. Look for support offers of much larger amounts. If you are looking to get out of a pump and dump, just catch those support orders which they don't expect people to take(because they are below the apparent 'market price'). To take those order you need to be convinced you're in a pump and dump.
-bm
That would only increase volume, not more...
And as you said, we have low volume, so no manipulation there.
What your are trying to say maybe is, that the big holders made a syndicate to manipulate the price by artificially decrease the money supply. But even that only works if all agree, typical prisoner dilemma.
it doesn't cost that much, so 'great lengths' isn't quite accurate here.
eg. the fees on BTER for NXT is 0.18%. Thus if the price was slipping, I simply put out a small sale of say 500 NXT and then take that sale with another account. Cost here is roughly 9 NXT which is a few cents USD. A relatively small operation could sustain that for months. Of course if such an operation were to detect that people were no longer buying in, they would shut down the operation, let the price fall and get in a new round of people. Look for support offers of much larger amounts. If you are looking to get out of a pump and dump, just catch those support orders which they don't expect people to take(because they are below the apparent 'market price'). To take those order you need to be convinced you're in a pump and dump.
-bm
eg. the fees on BTER for NXT is 0.18%. Thus if the price was slipping, I simply put out a small sale of say 500 NXT and then take that sale with another account. Cost here is roughly 9 NXT which is a few cents USD. A relatively small operation could sustain that for months. Of course if such an operation were to detect that people were no longer buying in, they would shut down the operation, let the price fall and get in a new round of people. Look for support offers of much larger amounts. If you are looking to get out of a pump and dump, just catch those support orders which they don't expect people to take(because they are below the apparent 'market price'). To take those order you need to be convinced you're in a pump and dump.
-bm
2) There has NOT been conclusive evidence that John Manglaviti is guilty nor innoccent. I have friends sitting in u.s. prisons for being accused of drug crimes in which they did not commit or even know about so let's make sure we have irrefutable evidence before we start making judgement or accusations.
Thanks a lot for making this point. It's one I have trouble remembering sometimes, and we all need the reminder. "Lynch mobs" are typecast for a reason...
Quote
Even if he netted the full 400 BTC he was aiming for, thats still only $240,000.
these excuses are making the NXT community look like a den of vipers. Didn't it already have that reputation?
-bm
Gee, I guess the price action of NXT reflects your rippage pretty accurately, huh.
Yep, NXT, joined the ranks of all those other failed coins and dropped to the single-digit satoshis for good.. Oh, it didn't? Oh sorry I must be in a parallel universe too.
a low volume market can be fabricated fairly cheaply.
-bm
I don't get why people that hate a currency so wholeheartedly not just dump their stack and move on? Is that too hard?
If you can't see past your "unfair distribution" and "inflated price", then just move on... please.
Quote
Even if he netted the full 400 BTC he was aiming for, thats still only $240,000.
these excuses are making the NXT community look like a den of vipers. Didn't it already have that reputation?
-bm
Gee, I guess the price action of NXT reflects your rippage pretty accurately, huh.
Yep, NXT, joined the ranks of all those other failed coins and dropped to the single-digit satoshis for good.. Oh, it didn't? Oh sorry I must be in a parallel universe too.
a low volume market can be fabricated fairly cheaply.
-bm
Well if NXT is a scam they sure have gone through great lengths to cover it up. Most of the other scamcoins unravel at the first signs of their scammage. I just find it odd that you and a handful of other characters are constantly trashing NXT yet you have very little effect on its price action. I guess nobody gets it except you guys, right?
Quote
Even if he netted the full 400 BTC he was aiming for, thats still only $240,000.
these excuses are making the NXT community look like a den of vipers. Didn't it already have that reputation?
-bm
Gee, I guess the price action of NXT reflects your rippage pretty accurately, huh.
Yep, NXT, joined the ranks of all those other failed coins and dropped to the single-digit satoshis for good.. Oh, it didn't? Oh sorry I must be in a parallel universe too.
a low volume market can be fabricated fairly cheaply.
-bm
Quote
Even if he netted the full 400 BTC he was aiming for, thats still only $240,000.
these excuses are making the NXT community look like a den of vipers. Didn't it already have that reputation?
-bm
Gee, I guess the price action of NXT reflects your rippage pretty accurately, huh.
Yep, NXT, joined the ranks of all those other failed coins and dropped to the single-digit satoshis for good.. Oh, it didn't? Oh sorry I must be in a parallel universe too.
Quote
Even if he netted the full 400 BTC he was aiming for, thats still only $240,000.
these excuses are making the NXT community look like a den of vipers. Didn't it already have that reputation?
-bm
John (Peter Manglaviti) was essentially the public leader of NxT, he was the one who represented NxT's booth at several public conferences / expos and seminars and he was the man the public dealt with. For all intensive purposes, while he may not had been a developer, he was essentially the public face of NxT. He was the man the public saw at anything NxT and he was the one persuading people to buy it.
You assume it's just the BTC stolen. Probably ran off with all the NxT he collected as well. You assume "John" (Peter Manglaviti) is his real identity. Linkedin profiles are easily just as faked as Facebook profiles. The best fake linkedin profiles are those which combine truth with outright lies.
John wouldn't be the first person who thinks he can scam investors and get away with it. After all, has the Visacoin guy gone to jail yet? Has anyone actually gone to jail? Even just one person?
The statue of limitations for these sort of crimes is 7 years or less. The time to investigate, acquire the evidence, book a court room hearing, et cetera, can take years, that's even IF the police can be bother to actually to issue a warrant. They generally don't go after 'small fish' like John.
The only people who have been arrested in crypto currencies has been people like Charlie Shrem and mainly due to drugs / DEA. I've yet to hear of a crypto scammer who has gone to jail, even with their personal details wide out in the open.
You assume it's just the BTC stolen. Probably ran off with all the NxT he collected as well. You assume "John" (Peter Manglaviti) is his real identity. Linkedin profiles are easily just as faked as Facebook profiles. The best fake linkedin profiles are those which combine truth with outright lies.
John wouldn't be the first person who thinks he can scam investors and get away with it. After all, has the Visacoin guy gone to jail yet? Has anyone actually gone to jail? Even just one person?
The statue of limitations for these sort of crimes is 7 years or less. The time to investigate, acquire the evidence, book a court room hearing, et cetera, can take years, that's even IF the police can be bother to actually to issue a warrant. They generally don't go after 'small fish' like John.
The only people who have been arrested in crypto currencies has been people like Charlie Shrem and mainly due to drugs / DEA. I've yet to hear of a crypto scammer who has gone to jail, even with their personal details wide out in the open.
This guy is the major public face of NXT.
He was at the convention booth promoting NXT as the public face of NXT.
Again - proof NXT is to the core a scam - he knew it and wanted BTC only.
Lots of people have represented NXT.....and John has represented more than NXT as well. Johns done NXT promo at Miami Bitcoin, TrekCon and PayExpo, so he's been present at less than 50% of the conferences NXT has attended, and always as part of a team. There's no way i'd call him the public face of NXT, let alone leader.
He and Cointropolis do have their own agenda, but up until now Cointrop and NXT worked well together. Hopefully still will in the future.
Personally, I find it very hard to believe that he ran the scam himself. Even if he netted the full 400 BTC he was aiming for, thats still only $240,000.
It's enough to have to run quite a long way to get away, but not enough to get you very far.
But: He and Cointropolis stand to gain so much more than that over the next few years, as crypto hits the mainstream. Even if NXT disappeared up it's own Genesis block tomorrow, Cointropolis could move on to represent other coins, 'coz thats what they do: alt-coin PR agency.
Being caught scamming so openly would be the end of their reputation and business, and that biz could be huge.
Johns not stupid, I can't see him throwing away massive longterm potential for short term gain and a massive shitstorm.
I'm going for the sneaky NXT insider/hack theory, until I see any actual evidence one way or the other.
So, a flood of NXT isn't about to hit the market then?
Wow this whole thread only dropped the price of NXT at most 4%, smaller than the average intra-day variability.
You know how I can tell NXT isn't a "scam"? Its price barely budges regardless of how many haters come out of the woodwork to rip on it.
Wow this whole thread only dropped the price of NXT at most 4%, smaller than the average intra-day variability.
You know how I can tell NXT isn't a "scam"? Its price barely budges regardless of how many haters come out of the woodwork to rip on it.
ya those 2 cent USD sells sure are keeping this market in shape.
-bm
So, a flood of NXT isn't about to hit the market then?
Wow this whole thread only dropped the price of NXT at most 4%, smaller than the average intra-day variability.
You know how I can tell NXT isn't a "scam"? Its price barely budges regardless of how many haters come out of the woodwork to rip on it.
Scamcoins drop at the first whiff that the jig might be up.
So go ahead, hate away all day. You guys seem to be driving the price of NXT up instead of down by increasing awareness of NXT, so thanks for that.
Wow this whole thread only dropped the price of NXT at most 4%, smaller than the average intra-day variability.
You know how I can tell NXT isn't a "scam"? Its price barely budges regardless of how many haters come out of the woodwork to rip on it.
Scamcoins drop at the first whiff that the jig might be up.
So go ahead, hate away all day. You guys seem to be driving the price of NXT up instead of down by increasing awareness of NXT, so thanks for that.
Again - proof NXT is to the core a scam - he knew it and wanted BTC only.
You got time on your hands then ?
The only thing it's proof of is how desperate some people are getting in their little private crusades to scrape up any morsel of adversarial gossip they can get their hands on to undermine their pet cryptocurrency hates.
Make sure you milk it now. Never know when your next meal's gonna be
John (Peter Manglaviti) was essentially the public leader of NxT, he was the one who represented NxT's booth at several public conferences / expos and seminars and he was the man the public dealt with. For all intensive purposes, while he may not had been a developer, he was essentially the public face of NxT. He was the man the public saw at anything NxT and he was the one persuading people to buy it.
You assume it's just the BTC stolen. Probably ran off with all the NxT he collected as well. You assume "John" (Peter Manglaviti) is his real identity. Linkedin profiles are easily just as faked as Facebook profiles. The best fake linkedin profiles are those which combine truth with outright lies.
John wouldn't be the first person who thinks he can scam investors and get away with it. After all, has the Visacoin guy gone to jail yet? Has anyone actually gone to jail? Even just one person?
The statue of limitations for these sort of crimes is 7 years or less. The time to investigate, acquire the evidence, book a court room hearing, et cetera, can take years, that's even IF the police can be bother to actually to issue a warrant. They generally don't go after 'small fish' like John.
The only people who have been arrested in crypto currencies has been people like Charlie Shrem and mainly due to drugs / DEA. I've yet to hear of a crypto scammer who has gone to jail, even with their personal details wide out in the open.
You assume it's just the BTC stolen. Probably ran off with all the NxT he collected as well. You assume "John" (Peter Manglaviti) is his real identity. Linkedin profiles are easily just as faked as Facebook profiles. The best fake linkedin profiles are those which combine truth with outright lies.
John wouldn't be the first person who thinks he can scam investors and get away with it. After all, has the Visacoin guy gone to jail yet? Has anyone actually gone to jail? Even just one person?
The statue of limitations for these sort of crimes is 7 years or less. The time to investigate, acquire the evidence, book a court room hearing, et cetera, can take years, that's even IF the police can be bother to actually to issue a warrant. They generally don't go after 'small fish' like John.
The only people who have been arrested in crypto currencies has been people like Charlie Shrem and mainly due to drugs / DEA. I've yet to hear of a crypto scammer who has gone to jail, even with their personal details wide out in the open.
This guy is the major public face of NXT.
He was at the convention booth promoting NXT as the public face of NXT.
Again - proof NXT is to the core a scam - he knew it and wanted BTC only.
Agreed that this person is absolutely NOT a good person to be representing this project. He even admits that he's not committed to NXT.
-bm
John (Peter Manglaviti) was essentially the public leader of NxT, he was the one who represented NxT's booth at several public conferences / expos and seminars and he was the man the public dealt with. For all intensive purposes, while he may not had been a developer, he was essentially the public face of NxT. He was the man the public saw at anything NxT and he was the one persuading people to buy it.
You assume it's just the BTC stolen. Probably ran off with all the NxT he collected as well. You assume "John" (Peter Manglaviti) is his real identity. Linkedin profiles are easily just as faked as Facebook profiles. The best fake linkedin profiles are those which combine truth with outright lies.
John wouldn't be the first person who thinks he can scam investors and get away with it. After all, has the Visacoin guy gone to jail yet? Has anyone actually gone to jail? Even just one person?
The statue of limitations for these sort of crimes is 7 years or less. The time to investigate, acquire the evidence, book a court room hearing, et cetera, can take years, that's even IF the police can be bother to actually to issue a warrant. They generally don't go after 'small fish' like John.
The only people who have been arrested in crypto currencies has been people like Charlie Shrem and mainly due to drugs / DEA. I've yet to hear of a crypto scammer who has gone to jail, even with their personal details wide out in the open.
You assume it's just the BTC stolen. Probably ran off with all the NxT he collected as well. You assume "John" (Peter Manglaviti) is his real identity. Linkedin profiles are easily just as faked as Facebook profiles. The best fake linkedin profiles are those which combine truth with outright lies.
John wouldn't be the first person who thinks he can scam investors and get away with it. After all, has the Visacoin guy gone to jail yet? Has anyone actually gone to jail? Even just one person?
The statue of limitations for these sort of crimes is 7 years or less. The time to investigate, acquire the evidence, book a court room hearing, et cetera, can take years, that's even IF the police can be bother to actually to issue a warrant. They generally don't go after 'small fish' like John.
The only people who have been arrested in crypto currencies has been people like Charlie Shrem and mainly due to drugs / DEA. I've yet to hear of a crypto scammer who has gone to jail, even with their personal details wide out in the open.
This guy is the major public face of NXT.
He was at the convention booth promoting NXT as the public face of NXT.
Again - proof NXT is to the core a scam - he knew it and wanted BTC only.
300million NXT was just sold today....NXT is dead.
LoL. Or put another way, 3,000,000 NxT was just bought !
Not bad volume if true.
Hi Tai!
when are you posting this video to the internet for everyone to view?
-bm
1. I want to let everyone know that myself, QBTC, Uniqueorn, and Damelon have been on video conference with John to investigate this matter. The others will confirm what I say when we finish the talk with John.
2. We are trying to be as neutral as possible to investigate this matter. So far John has answered all our questions and has been very cooperative and has not been evasive in his answers. He has been open to volunteer access to his personal emails, computers, etc for forensics review.
3. We will figure out what we need from John to investigate this matter further and he is being cooperative and open to give us access to his personal accounts because he wants his name cleared.
Please give us some time so we can review and research this matter.
Thanks for your patience.
Tai Zen
2. We are trying to be as neutral as possible to investigate this matter. So far John has answered all our questions and has been very cooperative and has not been evasive in his answers. He has been open to volunteer access to his personal emails, computers, etc for forensics review.
3. We will figure out what we need from John to investigate this matter further and he is being cooperative and open to give us access to his personal accounts because he wants his name cleared.
Please give us some time so we can review and research this matter.
Thanks for your patience.
Tai Zen
BM....u cannot expect that they recorded the conference call ?
Sheesh....I'll trust Tai Zen and QBTC to figure it out.
EDIT: I mean it, QBTC is very seriously straight. She's worked with J+Cointrop (and a lot of other people), but that won't be a factor.
don't know about QBTC, only that John declared she was part of the team some time ago. Not exactly an impartial judge of this.
yes I expect them to record the questioning. How do we know this isn't a kangaroo court?
-bm
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