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Topic: Blowing the lid off the CryptoNote/Bytecoin scam (with the exception of Monero) - page 36. (Read 132873 times)

legendary
Activity: 924
Merit: 1000
Damn, that was great detective work!

@rethink-your-strategy: Have you considered starting your own online altcoin-magazine Website? With your talent, you could make it the #1 go-to scam-exposer Website in the entire altcoin universe.

Even it would technically be a journal of opinion. Wink

Anyways, a top-notch job! Thanks!
hero member
Activity: 546
Merit: 500
this is hilarious

I do analytical stuff like this with equities sometimes

if anyone wants to read more in depth analysis I would suggest checking out www.citronresearch.com and sometimes www.timothysykes.com for similar language
hero member
Activity: 784
Merit: 500
Great post man.

Thanks for such a research.
legendary
Activity: 2128
Merit: 1073
@rethink-your-strategy:

One think that seriously detracts from the flow-of-rage in your original post is the inconsistency and ambiguity in the formatting of dates. It took me a while to figure out that you are using DD/MM/YYYY, I even almost dismissed your points when following your hyperlinks and looking at dates as MM/DD/YYYY.

So, either:

1) state your date formatting at the beginning
2) change numerical dates everywhere in the text to YYYY/MM/DD

I know it is a minor point, bordering on nitpicking. But the whole point of your missive is date inconsistency; and from where I sit reading it was unnecessary hard and simply didn't flow well. And without good flow the rage doesn't transmit well. It needs to be open-eyed rage, not the blind rage.

TL,DR: rethink-your-date-formatting.
legendary
Activity: 1204
Merit: 1002
Gresham's Lawyer
After that interview I was certain that cryptonote was a scam.

Yup. I remember arguing with you in defense of bytecoin. I just couldn't believe these people would attempt such an elaborate scheme with technology that was so promising.

It makes me wonder if they really were the original cryptonote developers, or if they stole the tech from someone else and rebranded it as cryptonote.

It will be interesting to hear the explanation for the weird dates.  Popcorn for everyone!
I suspect the innovators and the shillers are not the same.  The shilling seems amateurish.  The design is actually quite nice.  It gives them all a bad name, including Monero, which is tragic because there is a strong pull for a more private version of bitcoin for use in applications where the competition knowing the transactions are happening is problematic.  

If you are doing business in a region where the banks are all owned by your competition, it is difficult to fund your business without them knowing your every move.  CryptoNote provides this potential, and am hopeful for the maturing of Monero (at least) to provide this function.  Any of them would do, but it seems to have the best promise given the circumstances.
full member
Activity: 149
Merit: 100
All I can say to the OP is thank you for your analysis. Many among those of us who have invested in XMR (Monero) have very strong suspicions and concerns regarding the whole CryptoNote/Bytecoin situation (that is why we invested in XMR), and your analysis has confirmed our suspicions and concerns. 

Ditto!
legendary
Activity: 3766
Merit: 5146
Note the unconventional cAPITALIZATION!
This OP has given me food for thought...

I've been torn over endorsing Boolberry.

Been really impressed by the work done by the dev on this coin.

However suspicious market activity, has lead me to believe that one person has been mining the majority of BBR (possibly using a botnet) and dumping on Poloniex: https://bitcointalksearch.org/topic/m.8203714

Also suspect transaction activity has also lend me to believe that one person holds at least a third of all coins: https://bitcointalksearch.org/topic/m.8048106

Reading this post was like a massive light bulb (and red flag) for me... glad I stumbled upon it. Will watch this thread with interest!

Even if one person has a very large number of coins, the fact that they're dumping guarantees that the distribution will improve over time.

And suicide by handgun is a wonderful workout for the index finger.
legendary
Activity: 2282
Merit: 1050
Monero Core Team
All I can say to the OP is thank you for your analysis. Many among those of us who have invested in XMR (Monero) have very strong suspicions and concerns regarding the whole CryptoNote/Bytecoin situation (that is why we invested in XMR), and your analysis has confirmed our suspicions and concerns. 
kbm
member
Activity: 84
Merit: 10
After that interview I was certain that cryptonote was a scam.

Yup. I remember arguing with you in defense of bytecoin. I just couldn't believe these people would attempt such an elaborate scheme with technology that was so promising.

It makes me wonder if they really were the original cryptonote developers, or if they stole the tech from someone else and rebranded it as cryptonote.

Regardless of whatever the speculation is (my favorite is also the rebrand) .. with the crippled mining code skewing the original distribution to over a thousand people .. and now that it's been restored to a speed that makes sense, and has revealed that there were very likely less than ten computers .. we're left to a situation where we've collectively placed a value of about 6049 BTC (at current prices) into the hands of likely less than ten people. Even at 1 satoshi, this is still a sum of 1512 BTC. That is something to focus on. Just a cross comparison, Monero developers have a sum of about 50k XMR (163 BTC) and <10 donated BTC.

I don't think there will be any shortage of people willing to buy BCN at 1 satoshi, so long as these people keep putting out updates (hope I'm wrong though .. but pumpers will pump and if someone thinks they can profit off of it .. you know the rest). These people have secured funding for themselves .. and are currently making it known that they're not very happy when they're not leading the pack.
legendary
Activity: 826
Merit: 1002
amarha
The question on my mind now is how the heck Bytecoin still has a 3 million dollar marketcap.

Who's buying it?

It must be pure manipulation.
legendary
Activity: 3444
Merit: 1061
hmmmmm...very nice and interesting information. you guys rocks  Smiley
hero member
Activity: 795
Merit: 514
After that interview I was certain that cryptonote was a scam.

Yup. I remember arguing with you in defense of bytecoin. I just couldn't believe these people would attempt such an elaborate scheme with technology that was so promising.

It makes me wonder if they really were the original cryptonote developers, or if they stole the tech from someone else and rebranded it as cryptonote.
sr. member
Activity: 259
Merit: 250
This OP has given me food for thought...

I've been torn over endorsing Boolberry.

Been really impressed by the work done by the dev on this coin.

However suspicious market activity, has lead me to believe that one person has been mining the majority of BBR (possibly using a botnet) and dumping on Poloniex: https://bitcointalksearch.org/topic/m.8203714

Also suspect transaction activity has also lend me to believe that one person holds at least a third of all coins: https://bitcointalksearch.org/topic/m.8048106

Reading this post was like a massive light bulb (and red flag) for me... glad I stumbled upon it. Will watch this thread with interest!

Even if one person has a very large number of coins, the fact that they're dumping guarantees that the distribution will improve over time.

Not sure it guarantees anything. Shortly after I posted, the dumping slowed, disproportionately large/ fake buy and sell walls started appearing/ disappearing... I'll reserve final judgment Boolberry until I see how/if the allegations in this OP are addressed. Right now, red flag for me.
hero member
Activity: 795
Merit: 514
This was an interesting read. You forgot to include the fact that QuazaarCoin was a malicious fork of Monero originally intended to confuse/hijack the community Smiley I hope nobody forgot about that.
hero member
Activity: 826
Merit: 500
This OP has given me food for thought...

I've been torn over endorsing Boolberry.

Been really impressed by the work done by the dev on this coin.

However suspicious market activity, has lead me to believe that one person has been mining the majority of BBR (possibly using a botnet) and dumping on Poloniex: https://bitcointalksearch.org/topic/m.8203714

Also suspect transaction activity has also lend me to believe that one person holds at least a third of all coins: https://bitcointalksearch.org/topic/m.8048106

Reading this post was like a massive light bulb (and red flag) for me... glad I stumbled upon it. Will watch this thread with interest!

Even if one person has a very large number of coins, the fact that they're dumping guarantees that the distribution will improve over time.
sr. member
Activity: 259
Merit: 250
This OP has given me food for thought...

I've been torn over endorsing Boolberry.

Been really impressed by the work done by the dev on this coin.

However suspicious market activity, has lead me to believe that one person has been mining the majority of BBR (possibly using a botnet) and dumping on Poloniex: https://bitcointalksearch.org/topic/m.8203714

Also suspect transaction activity has also lend me to believe that one person holds at least a third of all coins: https://bitcointalksearch.org/topic/m.8048106

Reading this post was like a massive light bulb (and red flag) for me... glad I stumbled upon it. Will watch this thread with interest!
kbm
member
Activity: 84
Merit: 10


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...wat  Shocked

also, 578 readers ..

Maximum shilling is in effect!

It's funny to see what less than probably five people can do with a little bit of time. Imagine if 600+ people on any other subreddit were to try out the same tactic?
sr. member
Activity: 283
Merit: 250
Hey great work, which amount of should not be understated, on the OP.

Thanks, man it will be easy to just reference to this thread in the future.

Even BrilliantRocket seems a bit stumped, which is something. Not much, but still.

Thanks.
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