Coingen Coin + Faucet for Premined Coin | Fastest Way to Make your National Coin

btcltcdigger

hero member

Activity: 2086

Merit: 761

To boldly go where no rabbit has gone before...

Quote from: cryptobuddy on March 22, 2014, 10:29:01 AM

Quote from: risktaker on March 22, 2014, 12:43:24 AM

is this for real?....

HongKongCoin is a real coin on market. 2.5% premined coins is being distributed to HK people by a problematic faucet.

Unfortunately, this coin is extremely likely Coingen coin.

I think you didn't really understand what he was implying

cryptobuddy

sr. member

Activity: 252

Merit: 250

Quote from: risktaker on March 22, 2014, 12:43:24 AM

is this for real?....

HongKongCoin is a real coin on market. 2.5% premined coins is being distributed to HK people by a problematic faucet.

Unfortunately, this coin is extremely likely Coingen coin.

risktaker

newbie

Activity: 9

Merit: 0

is this for real?....

cryptobuddy

sr. member

Activity: 252

Merit: 250

Here is one more evidence supporting HongKongCoin is extremely likely a Coingen coin.

We all know that all Coingen coins using a wallet address using "1" as the first number.

Interesting HKC wallet address also starts with "1".

HongKongCoingenCoin

newbie

Activity: 7

Merit: 0

Oh.. excellent idea! Grin

Used your idea. I am making a HongKongCoingen Coin.

Come to join me, buddy

[Pre-ANN] [HKC] [SHA-256] 香港 HongKongCoingen Coin 香港币-Revolutionize HongKongCoin
https://bitcointalksearch.org/topic/preannhkc-hongkongcoingen-coinsave-u-from-hongkong-coin-scam-525695

cryptobuddy

sr. member

Activity: 252

Merit: 250

Here I provide evidence to show how vulnerable the HKC faucet is.

Today I tried to use a "special" way to generate a series of NEW IPs. Using these temporary IPs, I was able to obtain 19 times of 500 HKC giveways from the faucet. I stopped just because I felt tired to get more.. In fact, I could get as many times as I want .... LOL

Here is the record of my 19 "500 HKC" giveways that I obtained within 15 minutes. Yesterday I got 11 "100 HKC" giveaways from HKC faucet.

cryptobuddy

sr. member

Activity: 252

Merit: 250

Why 2.5% premined for Hong Kong People?

Some people may ask why HongKongCoin dev only plans to giving 2.5% premined coins to Hong Kong people.

If HKC is a coingen coin, this can be easily explained.

It is simply because it is time consuming to premine 50% premined coins as in the case of other National Coins.

It could take months to so do. Furthermore, it is very cost in term of electricity bill for the minting computers.

cryptobuddy

sr. member

Activity: 252

Merit: 250

HongKongCoin is extremely likely a COINGEN COIN!!!

For Coingen Coin, the coin maximum cannot be completely controlled because it is decided by the values that one inputs into the input boxes.

What a such coincidence that ... after inputting all these values according to HKC spec, 600 million coin maximum comes up. This is just the same as the coin max of HKC.

Moreover, Coingen coin typical is fixed at 50 blocks for maturity. What a coincidence that HKC also has a maturity of 50 blocks!

Here is the evidence:

cryptobuddy

sr. member

Activity: 252

Merit: 250

The HongKongCoin HKC has provided an excellent example how a National or City Coin can be produced within a few days.

Here are the steps:

1. Pay Coingen.io to make a Country Coin.

2. Modify the Coingen coin wallet

3. Premine the Coingen coin to obtain certain amount of premined coins for distribution to the people in that country

4. Make a faucet to distribute the premined coins.

Limitations:

1. Because there is no super-blocks containing large amount of cryptocoins, pre-minting 50% of coins is time consuming. Hence maybe 2.5% can be premined.

2. There is a chance that people discover it is a Coingen coin. Hence, the wallet has to be modified in a smart way to mask this problem.

3. Faucet is not a reliable way for distributing coins to a specific group of people in that country.
i) The premined coin distribution is not people-specific, but rather is IP specific.
ii) Coins can be obtained overseas by VPN. Even anonymous proxy can be blocked, accessing the faucet through non-annonymous proxy cannot be avoided.
ii) In that country, the coins can be obtained without limit for those IT people who know how to create unlimited amount of IP addresses.

Topic: Coingen Coin + Faucet for Premined Coin | Fastest Way to Make your National Coin (Read 679 times)