Topic: DASH (aka DARKCOIN) victim resources - page 2. (Read 6880 times)

Are there any victims really? As I see the price have been rising in the last moths and they have a pretty good volume as well, so I guess those "victims" are doing well .

DASH is a scam

[jealousy]

Jeff8247    
Date Registered:    January 08, 2014

So was just going to buy dash but now I see problems ahead not sure I should

VERY, interesting question. And one which those of us that are not judges in the U.S. judicial system (or jurors, should it go to that point) will not be making the decision on. We can speculate until we are blue in the face, and prosecutors, attorneys, LEO's, etc will of course be involved in the proceedings when and if they take place, but your pointing out that the U.S. does have codes, laws, and regulations regarding these types of things is very astute.

Considering that the D-Coin Foundation (whatever it is being called these days) is incorporated in Arizona, USA and E.D. is apparently a U.S, citizen, I would imagine that there is already a monitoring program in place. None of it has to be publicly announced. How many MN's are actually gov't-controlled?

Let's take a look at the first 5 h of Darkcoin (XCoin at that time)...

https://bitcointalksearch.org/topic/m.4589219
Edufield said (after failed launch) that he will wait the next day to launch DRK (XCoin at that time) it is 11 pm.

https://bitcointalksearch.org/topic/m.4591407
Edufield disregard windows wallet and daemon and hurry up his launch, presumably to not have windows miners on board.

https://bitcointalksearch.org/topic/m.4592827
Edufield say he added four nodes for the launch at 4 am (5 hours later, despite his promise to wait). The 4 nodes from Edufield are 3 amazons AWS + another unknown (whois IP). Launch started at 3h54 am.

https://bitcointalksearch.org/topic/m.4593601
Edufield said the github version was not updated, nobody could compile and only Edufield was able to mine until that time. It is 5.09 am and Edufield instamined alone 1153 block at 500 DRK + 60 block at reward 277 = 593120 DRK for him alone in about 1 hour.

https://bitcointalksearch.org/topic/m.4593987
No windows wallet confirmed at 5h47 am, despite a user attempt to make one avaiable, that Edufield dismissed quickly.

https://bitcointalksearch.org/topic/m.4594096
Illodin, understand dev has instamined alot of coin.

https://bitcointalksearch.org/topic/m.4595573
From this list of nodes, at 8h34 am (4h40 after launch) there were 50 Amazon AWS node and 50 microsoft cloud computing instamining DRK (checked using IP whois service). This is 100/124 nodes using cloud computing to instamine DRK. We are at block 2870 and block reward is 500. From block 1153-1729 block reward is 277. After that it is 500 again hence 2294 block at 500 + 576 at 277 = 1306552 DRK (worth about 13M$ now) were instamined in less than 5 hour by Edufield and coworkers using about 100 cloud mining instances. Edufield himself instamined in not even 5 h from 600K to 1169K DRK ((1306K-600K)*100/124 + 600K) depending how many of the 100 cloud mining instance were its own. All this while having purposefully set the difficult ridiculously low and block reward 100 times what it is now.

From 6M$ - 13M$ in 5 h, Edufield did some lucrative work here!

Edufield is nominee for the Master Scammer 2014 award!

no.

i left because i disagree darkcoin or however it will be called next year is not a decentralized entity. it never was but i ignored it as long as darkcoin was following the same path i was following. the path to total financial privacy. and thats why i am so upset about how this currency is lead by a single person. darkcoin is like an old conservative company with strong hierarchical comamnd structures and a single person on the top of the pyramid. evan duffield. the rebranding using a detergent name was just a step forward in creating something like apple or paypal. fuck this i tell you. what we need is a trustless, decentralized and anonymous currency. darkcoin is not decentralized as it still relies on a single person. and this reaches deep into the code base.

the core devs were just a bunch of volunteers exploited for the big thing. the extended darkcoin team was the same with even a lower place to sit on that pyramid. and what was the darkcoin foundation again? right, something to reserve some rights on some names and collect money. who nominated and voted for the foundation board? who does even know who are these guys? how did we learn about the foundation? from local news papers! the team listings kept counting names of people nobody ever noticed before. and they never committed anything visible to the community or the repository. and i was spending 25 hours a day monitory everything that happened in the darkcoin community for more than a year. the things going on here are fishy, intransparent and rely on a single entity.

i will get out and and will contribute to something decentralized and anonymous. i always hoped darkcoin could fill that void. i cant blame anyone to stay with this project. you are probably investors trying to win a gold donkey. or you are simply trying to exploit every possible vector of profit in the coins space. whatever. you are not here because darkcoin is something it claims to be.

if you disagree with my statement above, i dont care, but answer that simple question: what if evan duffield suddenly announces he quits the project tomorrow morning?

good luck

I was aiming for ~3000 masternodes by mid 2016 based on an return-on-investment bond model. The masternode networks fundamentals are pretty similar to that of the bond market, ROI being comparable to expected interest rates. Currently the expected interest rate of the network appears to be about 16%, as our fundamentals strengthen I would expect that expected rate to actually fall allowing more masternodes onto the network (if people feel less risk in having a masternode, they'll accept less return).

44-1731. Definitions

In this article, unless the context otherwise requires:

1. "Compensation" includes a payment based on a sale or distribution made to a person who either is a participant in a pyramid promotional scheme or has the right to become a participant upon payment.

2. "Consideration" means the payment of cash or the purchase of goods, services or intangible property but does not include:

(a) The purchase of goods or services furnished at cost to be used in making sales and not for resale.

(b) Time and effort spent in pursuit of sales or recruiting activities.

3. "Pyramid promotional scheme" means any plan or operation by which a participant gives consideration for the opportunity to receive compensation which is derived primarily from any person's introduction of other persons into participation in the plan or operation rather than from the sale of goods, services or intangible property by the participant or other persons introduced into the plan or operation.

http://statelaws.findlaw.com/arizona-law/arizona-pyramid-and-ponzi-scheme-laws.html

In Arizona, investment fraud can happen in a number of ways. A Pyramid or Ponzi scheme is an illegal way of making money using an endless stream of recruits or investors. Some Pyramid schemes involve a product while others do not.

In Arizona, a business is considered a Pyramid Scheme when participants earn more money from bringing others into the program than from the sale of goods, services or intangible property. Pyramid Schemes are successful because potential recruits are told they can make quick, easy money. In reality, it is almost mathematically impossible to make any money at all.

"DARKCOIN": { HYIP - scam - InstaMined: [500k/1st hr, 2MM/1st day] - Broken Privacy - Broken Security - Broken Masternodes -  Trusted 3rd Parties - Stolen Name - No Fundamentals - BusFactor=1 }

// Duffield, Moncada, & Co should GO TO JAIL for fraud.

Ill start contacting some authorities in the coming days

Jail for Evan

https://docs.google.com/document/d/143Uwls4ZZrN7pS7bWfjk03i90TWskjy8scNB2U0HOoo/edit?pli=1
backup: https://i.imgur.com/7Ceys35.jpg

THE DARKCOIN FOUNDATION, INC.
1850 E INNOVATION PARK DR #100
ORO VALLEY, AZ  85755

BOARD OF DIRECTORS:

EVAN DUFFIELD
1850 E INNOVATION PARK DR #100
ORO VALLEY, AZ  85755

EDWARD MONCADA
11668 IDAHO AVE #9
LOS ANGELES, CA  90025

FERDANDO GUTIERREZ MOSQUERA
1850 E INNOVATION PARK DR #100
ORO VALLEY, AZ  85755

CHRISTOPHER CARLO RIMOLDI
11310 PROSPECT DR STE 10 #115
JACKSON, CA  95642

HAROLD BOO
11668 IDAHO AVE #9
LOS ANGELES, CA  90025

http://www.fbi.gov/phoenix

FBI Phoenix
21711 N. 7th Street
Phoenix, AZ 85024
Phone: (623) 466-1999
Fax: (623) 466-1108
E-mail: [email protected]

White Collar Crime Supervisor
201 E. Indianola Avenue, Suite 400
Phoenix, AZ 85012-2080
Phone: (602) 279-5511

http://www.azcc.gov/divisions/securities/complaint.asp

Complaints
 
The Securities Division of the Arizona Corporation Commission is responsible for regulating the securities industry in the state of Arizona.  One of our main functions is to oversee the firms and individuals that engage in the offer and sale of securities to the public. If  you are a victim of financial fraud, please send us your complaint information.

https://www.azag.gov/complaints/consumer

The Arizona Attorney General’s Office has jurisdiction over Arizona's Consumer Fraud Act

Consumer Complaint Form

If you believe you have been the victim of consumer fraud, complete the online form below.

For more information you can contact us by phone at (602) 542-5763 (Phoenix), (520) 628-6504 (Tucson), or toll free outside metro Phoenix, (800) 352-8431, or by email at [email protected]. Please provide your supporting documents by fax at (602) 542-4579 or by mail at 1275 West Washington Attn: Consumer Information and Complaints, Phoenix, AZ 85007 and include your name and complaint number if available.

http://www.ic3.gov/complaint/default.aspx

The Internet Crime Complaint Center (IC3) is a partnership between the Federal Bureau of Investigation (FBI) and the National White Collar Crime Center (NW3C).

File a Complaint

http://www.stopfraud.gov/report.html#computer

To report computer-based fraud:

Internet Crime Complaint Center (IC3): File a Complaint
Online Form: https://complaint.ic3.gov/ctf.aspx

    IC3 accepts online Internet crime complaints from either the person who believes they were defrauded or from a third party to the complainant.

eConsumer.gov: Report Your Complaint
E-mail: econsumerwb@ftc.gov  

    eConsumer.gov is a portal for consumers to report complaints about online and related transactions with foreign companies.

http://www.stopfraud.gov/report.html#investment

To report Commodities, Investment and Securities Fraud:

U.S. Securities and Exchange Commission (SEC): Center for Complaints and Enforcement Tips
Online Form: www.sec.gov/complaint.shtml  
Phone: (800) 732-0330

    You can file a complaint or provide the SEC with tips on potential securities law violations though the links on this page.

The Federal Trade Commission also works for the consumer to prevent fraudulent, deceptive, and unfair business practices in the marketplace and to provide information to help consumers spot, stop, and avoid them. To file a complaint or to get free information on consumer issues, visit the website at www.ftc.gov (link is external) or write or call:
 
Federal Trade Commission
 Consumer Response Center
 600 Pennsylvania Ave. NW
 Washington, D.C. 20580
 1-877-FTC-HELP (1-877-382-4357)
 TTY: 1-866-653-4261

What evan did was;

1) Released Darkcoin/Dash
2) Put the block reward at 500 coins per block
3) Make it only available to the extremely small pool of linux users(So his buddies and himself could get the majority of coins)
4) Instamine darkcoin with a few of his buddies
5) Cut Darkcoin's block rewards over 50% from 500 to under 100
6) Cut Darkcoin's max coin supply by 50%
7) End the instamine within 40 hours and go on his merry way

What makes that even worse, was that he made the masternodes as a way to continue enriching himself, so he could gain even more $ from the coins he instamined. Within 40 hours over 2million Darkcoins were mined by Evan and a few others at darkcoins/DASH's release.

If this isnt a scam, then I dont know what is.

This shitcoin is even scammier than i imagined. Someone needs to go jail over this shit

In order to run a Masternode, an investor needs to buy 1000 DRK/DASH as collateral.

DASH ROI

You can estimate like this:

- Currently Masternodes get 40% of the block reward.

- The minimum block reward in DASH(DRK) is 4.65 DASH at this moment. I will assume difficulty is high enough so that we are dealing with the minimum reward for a worst case scenario situation, sometimes there are blocks with higher rewards. The minimum DASH block reward decreases by 7% annually to avoid abrupt block halvings, that already happened earlier this year so 4.65 DASH will be valid until next year.

- Average block-time in DASH is 2.5 min, so there are ~576 blocks per day. So 576*4.65DASH*40% = 1071.36 DASH alloted for the whole masternode network currently, we need to divide this by the 2300MN active masternodes. This gives us

 ~Monthly masternode income = 13.97 DASH
 ~Current Minimum DASH Annual ROI = 17%*

*This will change and go up throughout this year as the masternode network reward share will continue to increase each month to incentivize node creation following this schedule:

As I understand it. what was proposed and voted on was not a relaunch but an airdrop. i.e. creating more coins out of thin air to give away.

But the vote was in fact rigged, by closing it early.

It looks like that happened because a few whales didn't like the idea, and, according to Evan (his words), "You can't change the rules in the middle of the game".

And, yet, the rules were changed in the middle of the game to cut supply, instead of increase it, boosting the share held by instaminers, instead of reducing it.

So it seems you can change the rules in the middle of the game, as long as you favor the right people.

Something stinks here. Big time.