notice the array of sock puppets turning up??
people are getting worried about bay...
David why could you not trace these old hoarding scammers wallets and nuke them? parasitic scum that they are. Not only stole 100s of BTC but got millions of BAY for nothing.
Well, considering how much negative PR it was for Ethereum to revert their bug, I think nuking their wallets could backfire. Personally I like the idea but the hard core coin enthusiasts will argue against centralized maneuvers.
ETC "Classic" was such a monkey wrench for ETH and I'm not sure they will ever recover from that. They might but it causes tons of confusion to new buyers.
Also it would be difficult to prove which wallets were theirs... perhaps freeze them until they identify themselves or carefully track it, however there is a lot involved in that. Our slack group seems to have a good idea of who owns what.
Consider that anywhere from 30-60% of Bitcoins are stolen from exchanges or government seizure or escrow failure. Not to mention "Satoshis wallet" who nobody seems to know who owns it. So considering that, its probably just best to build a good coin. A lot of their coins have been bought by the core team already too. Our distribution is actually pretty good compared to other coins.
All very good points. Yes, best to just let things go. Hopefully they have sold most of their bay trying to destroy the project early on. I remember they drove the price down to 18 sats at one point.
The thing that bothers me the most is that these guys continue to pull
their scams on others and there is no mechanism to stop it. I remember the day David made the first post about the group and what had transpired. Not a pretty thing after buying from the ICO and honestly, until I researched the issue, I wasn't sure who to trust. It didn't take long to figure that out however and the rest is history but, it still amazes me how people can pull off blatantly illegal stunts, with no consideration for the people who are being hurt, and not suffer the consequences.
At least not in THIS life...
Yes there is, but Theymos and the exchange operators choose not to use the data/metrics available to them.
Wasn't the exchange operator the prime enabler of the scam?
Oh, In this particular case, yes. I was talking generally.
Linn of BTER in collusion with bobsurplus, if memory serves correctly. Although, its fair to note, that David was also part of that equation. But for what its worth, im satisfied that David's agenda was on the correct side of corruptible. Credit for carrying on, and taking a decision to stick around, and take all the flac that that episode created, IMO.
Theymos himself has been implicated in scams. He also has no respect for peoples privacy. He has been known to release private messages to courts to help prosecute companies(which i think is extremely unethical). But then he won't stop serial scammers that have been abusing the forums. In theory because the forum is moderated, he has a fiduciary responsibility to remove any attempts of impersonation, and blatant privacy violations.
What's funny is, I have seen threads explaining how Theymos has done favors for moderators which shows he's also a hypocrite. For example one guy insulted a mod and Theymos helped remove the offending posts. The guy works for a Senate office and is basically a total sellout and schill. Not to mention he raised Bitcoins and kept them in a few scandals of his own. Also I sent Theymos PMs, emails, even contacted on Reddit and he ignored me never a single reply not even just as a gentleman. So yeah it casts serious doubt on the agenda of Bitcointalk.
As for my agenda honestly if you saw all the early chat logs you will see how most the convos were about tech. Steven offered to pay to use Halo tech at the time being 100 btc plus 10% of the coin which he offered to buy on the exchange. Bob came in with Ryan days before and asked if I would split a portion of what was raised and said they would set aside at least 500 btc for dev fund.
Considering it wasn't my project, the deal looked good obviously and I had not considered that all 4 of them were liars. Unfortunately, I never complained about how they structured the project which I realize was something that I should have done. I never asked why they were getting similar portions as the main dev. At the time I said I only wanted to be a project manager and they could hire devs. Lin said he had devs but that turned out to be bullshit. I figured at least Steven would stay on board. Not having control of finances was obviously a huge problem. And it took me a couple weeks to expose them. Consider during that time they were extorting from everyone anyways. What would you do if you saw them faking volume? If I told investors immediately, it would have ended up the same anyways. I'm not sure if being quiet about it for two weeks was wrong or not but that's why I had shifted gears to pegging early. The advantage of waiting was at least i got more evidence against them which helped defend us. They were the ones in control of BCT so that worked against the project too. Even the news saw all my chat logs and was unable to find anything showing I knew in advance.
Anyways that's old news. If anything it makes for a crazy story. However success is very sweet revenge and it would be totally awesome if this works out as planned. The ideas are sound. All that's left is hard work. I think this coins distribution is way better than a lot of premine coins.
For example I was told Fuelcoin dev had more than 90% of the supply. I've heard similar things about Scotcoin. Not sure which allegations are true.
If I had a coin honestly I would distribute based on valid Reddit or Facebook profiles since those are hard to fake.