Elite coin another bittrex scam? - page 10.

ThomasJosh

newbie

Activity: 10

Merit: 0

Quote from: TheCoinFinder on July 25, 2014, 07:21:46 PM

int64_t GetProofOfWorkReward(int64_t nFees)
{
   int64_t nSubsidy = 1 * COIN;

   if (fDebug && GetBoolArg("-printcreation"))
   printf("GetProofOfWorkReward() : create=%s nSubsidy=%"PRId64"\n", FormatMoney(nSubsidy).c_str(), nSubsidy);

   return nSubsidy + nFees;
}

and rest of code doesn't seem to hide any premine.

Of course - a block explorer would show this for sure.

Please share the source code for Elite coin , then we can check it !

mikesrevenge

member

Activity: 112

Merit: 10

Quote from: TheCoinFinder on July 25, 2014, 08:39:29 PM

You can't blame bittrex. If they don't add the coins - mintpal/polo or some other exchange would anyway.

If you are unsure of a coin - get its source code and check it.

In this instance - it seems no one did:

Code:

>>  pindexBest->nHeight+1!=1

Was in the codebase plain to see.

Not owning up to the problem is PART of the problem.

And not everyone can read code, so its not plain to see as you put it.

jasemoney

legendary

Activity: 1610

Merit: 1008

Forget-about-it

threads locked, github source is empty... gg

goodluckpool

newbie

Activity: 42

Merit: 0

Quote from: jc12345 on July 25, 2014, 08:30:34 PM

Guys it is unfair to blame Bittrex or any other exchange that adds a coin. The answer is sometimes right in front of you by applying good common sense and looking at the risk indicators. By looking at a few things you can make a call on the residual risk of a coin based on risk factors and then see how that fits into your risk appetite. You can then either stay away or risk it all and the alt-coin exchanges currently just provide a vehicle to cater for the whole of the spectrum of risk appetite.

In the absence of regulation in alt coins (self or otherwise) you can do certain basic things to protect yourself: Elite was high risk based on such an assessment, refer here https://bitcointalksearch.org/topic/m.7974656

which new X11 scam coin released past week was low risk??? Grin

I think the eco system will change to a reputation based new coin release, someone will have to come out and said I was this successful coin dev, and I am making a new one for people to mine.
But there are too much spare X11 hash power out there, look, someone still throwing 2G hash at LTCX, a coin long dead.

TheCoinFinder

legendary

Activity: 938

Merit: 1001

You can't blame bittrex. If they don't add the coins - mintpal/polo or some other exchange would anyway.

If you are unsure of a coin - get its source code and check it.

In this instance - it seems no one did:

Code:

>>  pindexBest->nHeight+1!=1

Was in the codebase plain to see.

CryptoTV

member

Activity: 84

Merit: 10

yup, im done with bittrex also. This shit is silly. No wonder the world is going to shit with so many willing to just take from others.

Done with Bittrex, Not putting any more money in the Altcoin market. It makes me wonder why there are so many people who would rather destroy the whole crypto system for a quick buck instead of doing the work and cultivating it to profit everyone.

The devs had something good here, it's sad that greed once again won out.

cassius69

sr. member

Activity: 280

Merit: 250

Quote from: mikesrevenge on July 25, 2014, 08:34:02 PM

What's alarming is the rate Bittrex is adding them...

I pulled all coins from Bittrex.... not getting my volume anymore.

what choice do we have but to pull out of bittrex.

all the scams happen there.

more money lost for me and i am not a rich man. i was only in this trade for 2 hours and took a complete loss.

bittrex cant hide behind the free market argument anymore. there is no demand for being scam. stop listing this fucking shit and protect your customers.

joe.sixer

full member

Activity: 224

Merit: 100

Quote from: jc12345 on July 25, 2014, 08:30:34 PM

Guys it is unfair to blame Bittrex or any other exchange that adds a coin. The answer is sometimes right in front of you by applying good common sense and looking at the risk indicators. By looking at a few things you can make a call on the residual risk of a coin based on risk factors and then see how that fits into your risk appetite. You can then either stay away or risk it all and the alt-coin exchanges currently just provide a vehicle to cater for the whole of the spectrum of risk appetite.

In the absence of regulation in alt coins (self or otherwise) you can do certain basic things to protect yourself: Elite was high risk based on such an assessment, refer here https://bitcointalksearch.org/topic/m.7974656

Is it unfair to assume they should do some sort of QA/QC of code for the coins that they add? The 20k genesis block noted above should have been identified, yes?

mikesrevenge

member

Activity: 112

Merit: 10

What's alarming is the rate Bittrex is adding them...

I pulled all coins from Bittrex.... not getting my volume anymore.

jc12345

legendary

Activity: 1638

Merit: 1013

Guys it is unfair to blame Bittrex or any other exchange that adds a coin. The answer is sometimes right in front of you by applying good common sense and looking at the risk indicators. By looking at a few things you can make a call on the residual risk of a coin based on risk factors and then see how that fits into your risk appetite. You can then either stay away or risk it all and the alt-coin exchanges currently just provide a vehicle to cater for the whole of the spectrum of risk appetite.

In the absence of regulation in alt coins (self or otherwise) you can do certain basic things to protect yourself: Elite was high risk based on such an assessment, refer here https://bitcointalksearch.org/topic/m.7974656

mikesrevenge

member

Activity: 112

Merit: 10

Quote from: TheCoinFinder on July 25, 2014, 08:19:53 PM

Quote from: rikkejohn on July 25, 2014, 07:52:16 PM

Quote from: TheCoinFinder on July 25, 2014, 07:35:15 PM

Only block in entire chain with >1(+fees) coin was genesis block - with 20,000 coins - this is a significant amount

I'm not a coder, tried and failed, but there is a 90,000 difference between blocks mined and total money supply.

The fees were weird, there was a fee for the smallest transaction (when using the wallet).

How do you get this "moneysupply" thing to show up, as My getblock doesn't seem to show it?

Its presumably something to do with PoS probably..

But i just summed up each blocks' generated coins - and only the first block (block 1) had 20,000. The rest were 1+fees

try getinfo

TheCoinFinder

legendary

Activity: 938

Merit: 1001

Quote from: rikkejohn on July 25, 2014, 07:52:16 PM

Quote from: TheCoinFinder on July 25, 2014, 07:35:15 PM

Only block in entire chain with >1(+fees) coin was genesis block - with 20,000 coins - this is a significant amount

I'm not a coder, tried and failed, but there is a 90,000 difference between blocks mined and total money supply.

The fees were weird, there was a fee for the smallest transaction (when using the wallet).

How do you get this "moneysupply" thing to show up, as My getblock doesn't seem to show it?

Its presumably something to do with PoS probably..

But i just summed up each blocks' generated coins - and only the first block (block 1) had 20,000. The rest were 1+fees

rikkejohn

hero member

Activity: 644

Merit: 500

Quote from: TheCoinFinder on July 25, 2014, 07:35:15 PM

Only block in entire chain with >1(+fees) coin was genesis block - with 20,000 coins - this is a significant amount

I'm not a coder, tried and failed, but there is a 90,000 difference between blocks mined and total money supply.

The fees were weird, there was a fee for the smallest transaction (when using the wallet).

oneway

member

Activity: 83

Merit: 10

Quote from: TheCoinFinder on July 25, 2014, 07:35:15 PM

Only block in entire chain with >1(+fees) coin was genesis block - with 20,000 coins - this is a significant amount

You are right the money supply don't match the source code coin value...

TheCoinFinder

legendary

Activity: 938

Merit: 1001

Only block in entire chain with >1(+fees) coin was genesis block - with 20,000 coins - this is a significant amount

rikkejohn

hero member

Activity: 644

Merit: 500

Quote from: TheCoinFinder on July 25, 2014, 07:23:46 PM

Quote from: rikkejohn on July 25, 2014, 07:22:05 PM

the old wallet, before it was "changed"

supposedly only 4000 coins mined.

Going to run through the blockchain, see if I can identify...

I noticed the disparity on day-1, just because i compiled the wallet for Linux.

I mostly bought the story about a code issue (nagging doubt, but put it down to their "innocence")

But it has escalated. Initially the money difference was 2-to-1. It's grown a shitload since then.

TheCoinFinder

legendary

Activity: 938

Merit: 1001

Block 0:

Code:

            "vout" : [
                {
                    "value" : 20000.00000000,
                    "n" : 0,
                    "scriptPubKey" : {
                        "asm" : "OP_DUP OP_HASH160 55f31b48401f13408e0f488cc9bbc060d0d05e78 OP_EQUALVERIFY OP_CHECKSIG",
                        "reqSigs" : 1,
                        "type" : "pubkeyhash",
                        "addresses" : [
                            "EQzNAEKb38qYndEzR5CUgPefnpUUu4vJ1R"
                        ]
                    }
                }
            ]

cudaminee

newbie

Activity: 28

Merit: 0

what happened to our coins? Undecided

baxto

sr. member

Activity: 264

Merit: 250

That is why i am done with these stupid new PnD coins. Every single one of them. I am now looking into long term stability, i have now found my savior and its name is Blackcoin.

rikkejohn

hero member

Activity: 644

Merit: 500

they were plausible, came across as kids, a bit dense .... guess the joke is on me .... again! Tongue

Topic: Elite coin another bittrex scam? - page 10. (Read 10572 times)