Topic: Ethereum - Permissioned ledger Russian extortion scheme (Read 949 times)

According to the Poll - opinion of People still very interesting!

Keep voting!

Thank you.

Forbes article - is for you swearing and childish insults? Are you kidding me?  

I am not afraid to call such asshole swearing idiots as altcoinWhore, you have not yet made such comments but I'm not afraid to say it to you if you speak the same trash as he did.

You would like say that all who speak about revolutionary technologies are just garbage. No, only your supporting projects are garbage. I'm sorry for you.


Do not be so sad and serious, it will not change the value of your trash projects.  

cryptohunter - you're just paranoid, if you think all users except you are scammer and shills.

IOTA is gradually rise in the price and this is just a natural progression and corresponds to its success in the IoT firms and their intention to work with IOTA. Which companies that is will not divulge for such scammers as you. IOTA well be used in the real world and you can't stop this process. Do not try. You have already lost.  

Hey))) cryptogay, you are here...

I'm looking on your sign.... LISK- yes?

No. Lisk is Scam has not nothing behind itself as well as ethereum...  

Iota? This is technology, not a token like your lisk.

IOTA IS M2M technology.

Did you catch it?

I deleted your comments for the swearing and childish insults.

BTW

forbes has written articles about a lot of crypto that are now in the trash can.  It mentions bitshares too did you forget to mention that.

the tokens have not been used as yet by mass market and therefore can not be assessed as to whether or not it will suffer the consensus issues other experts have suggested it could have.

Turning this thread to an IOTA pumping thread is indicative of your shilling for that ICO scam.

Anyone buying these 130sats tokens generated out of fresh air for the 3000+ sats that are being asked is being taken for a mug.

Hey cryptohunter, you are propagating your lies about IOTA everywhere, because are you afraid of Iota? You deleted my post in the self-moderated topic. Read it again:


By the way

http://www.forbes.com/sites/rogeraitken/2016/03/14/can-bitteasers-blockchain-ad-network-disrupt-pay-per-click-market/#78b8ef064e22


Now also Forbes writes about IOTA. Revolutionary ideas of the Iota project becomes known everywhere.

I hope this fact will not make some envious of the IOTA project persons even more sad and serious? 

at this moment, unfortunately, people said that ETHEREUM is SCAM...

Keep voting!

Thank you!

Thank you for explanation

Although I view all ICO (unregulated with zero transparency as they are on here )as possible scams and highly probable.

The biggest scam of all is probably IOTA.

This guy is creating these topics for one reason only and that is to divert from iota being touted as a scam.

He is a black belt in kick boxing and will threaten to find you and make you sorry if you dare to question the fact that iota has an initial distribution magnitudes narrower than other big ico like ethereum , lisk, maid , nem. I mean obviously you have little to fear since the person must be very young to say such a thing else has brain injuries. Either way not a huge threat.

He is one of approx 30 puppet accounts shilling for iota.

Iota whilst distributed to a tiny fraction of the board (magnitudes smaller than ethereum , lisk , nem) is already commanding prices rises as great as those ethereum has made.

Iota sold rapidly for 130sats at ico they are now charging people 3000 sats + and it is not even out yet. It is being held by probably under 100 people.

Now this guy a rampant iota pumper is trying to call every other ICO a scam to hide the fact he is pumping the biggest scam of all.

The guy is so transparent in his ploys it is impossible to miss.

If I was to rate the scams 1 - 10 (10 being a super scam) (talking in terms of distribution and price pumping through devious and dishonest means)


Ethereum = 4
Lisk = 5
Iota = 9
Dash = 10 ( an honest 10 though that just said simply yes you can witness us through POW taking all the coins at launch, yes we will reduce the minting to make our gains 4 x larger and yes we will create masternodes to further our advantage.

Ethereum - i  didn't invest but they did advertise very heavily - they gave POW to broaded distribution.

Lisk - Advertised SUPER heavily on the board to give everyone a chance to invest. No pow

IOta - didn't advertise much, and are now pumping without releasing to exchange. NO pow

Dash - well we all know what happened there.

I said it was a scam in 2014 when it launched and i made a topic on it where proof was posted.
So in 2016 hell yeah .. i think it is NOW more than ever.

Ok,

So you're saying PoS is a permissioned ledger and PoW is permissionless legder.

Sorry , calling Bullshit on that.

You act like the Proof of Stake guy will just Hoard it and never spend any.
All that does is make the remaining Proof of Stake coins more valuable and makes everyone else holding , hold tighter.
But they can still spend their Staked rewards and leave their principle untouched.
So their staked rewards flow out into the populace, where they can be purchased and staked again.

As to your comment : PoW is permissionless legder
That is a Real Joke.
Economics make PoW mining harder to enter into than PoS staking even now.

Proof of stake buy the coin from the exchange, transfer to personal wallet and let Stake, Easy and done.

Proof of Work ,
1. Buy a warehouse
2. Spend 1 million dollars buying ASICS
3. Spend thousand of dollars on electricity & IT Support Staff
4. Setup Website and system so others can buy shares into your BTC mining operation, because you make more money from the suckers that buy cloud mining than you do from mining BTC itself.
(If that does not make a lightbulb in your head Light up, well there's no hope for you.)
5. Pray for a Miracle , so the next halving does not end your Business models , because you can't afford to keep upgrading the ASICS  

There is no Proof of Stake coin, that I cannot enter at this point in time.

You could not enter the BTC mining for less than ~1 million bucks.
You can claim , that you could be 1 of the suckers that goes into PoW cloud mining,
keyword suckers , they don't even Break even before the difficulty makes their mining shares sterile.

   

FYI:
Some of the comments you guys make, kills me   .
As if it is so easy to corner a market or so easy to short sell a coin.
1. The more you try and corner a market the more impossible it becomes as you increase the cost of whatever you are buying.
2. Short Selling can destroy a coin, LOL. TRY IT.  
http://www.marketwatch.com/story/why-you-should-never-short-sell-stocks-2015-11-19

yep. thank you

What is ETHERIUM?

Did you mean Ethereum.

Nobody understands every interlocking element about crypto, whether it's the obscure differences in elliptic curves, economic theories, the legal system, whatever.  One thing that's generally agreed upon by the people who spend a lot of time deciphering these elements is, they can all be categorized into one of two systems:  permissioned ledger and permissionless.  The fallacy of many of these crypto analysts is, they assign these two distinctions solely at a protocol level, if it's possible or not to interact with the system at all.  In the case of Ethereum, the economic variables alone can cause the same permissioned ledger distinction to take effect.

Yes, it is true, I can technically "interact" with Ethereum on a "permissionless" level, but that interaction has no purpose unless you're first able to acquire the native token of the protocol.  It doesn't really matter if you can interact with it in some meaningless way if you're not spending native coins.  Since it's a currency and not a theoretical object on a drawing board, the interaction is required to be economically motivated in order for the permissionless attribute to apply.  In this case, it is not a permissionless system because I cannot acquire native tokens in a permissionless manner...just like proof of stake.

Where do the native coins come from?  Issued with the wave of a hand, for profit, just like central bankers do to enrich the issuer of course!  

Many will likely not want to accept this conclusion, but I believe this is a shockingly obvious flaw of unprofitable PoW (in this implemention at least), to be relegated into the same permissioned ledger status as proof of stake.  Because you're not circulating native coins in a permissionless manner, the external entropy to attempt to secure the underlying protocol, completely abstracted from coin creation and distribution layer, is kind of meaningless to begin with.

This is in addition to all the other issues of Ethereum, such as limits of practical application concerning CAP Theorem, how the chain could find convergence without centralization or actually be secure at all without a huge tipping point of adoption, unprofitable PoW being easier to attack, the likelihood checkpoints would be required forever, etc.  

But on another note, why is the word "extortion" in the title?:


Quote from: r0ach on March 27, 2016, 05:04:55 PM
Please tell me, who throughout history has issued currency for profit besides central bankers?  No wonder thief wants to remain anonymous, because he wants to profit by impersonating a central banker and the legal system will eventually annihilate people doing such things.  

PoS is a closed loop, recursive, permissioned ledger.  I can just corner the market on coins and if anyone requires them, I can now extort them because there is no entry point into the system besides the extortioners.  Ethereum shares a similar fate.  With unprofitable mining and no block rewards, you just issue the coin supply yourself, effortlessly create a monopoly out of thin air, attempt to pump the price, and now if anyone requires Ethereum for some particular reason, you now get to extort them.  In this regard, Ethereum is also a permissioned ledger because there's no entry point into the system besides the extortioners.

In PoW, the coins are constantly being recycled by transaction fees acting as mining reward, meaning there is always a permissionless entry point.  There is no permanent rich get richer scheme with interest or cornered supply and extortion scheme from day one like Ethereum.

Point two:

Quote from: r0ach on March 27, 2016, 06:17:33 PM
If people wanted to be paid in Ethereum, they will in some way have to go through the Ethereum Russian extortion scheme, directly or indirectly.  He is impersonating a central banker after all and cornered the market on day one.  There is no way around that fact.  We might as well call him Vit.

The value of currency is denominated entirely by network effect.  If only one person owns it, the value is zero.  If only two or two hundred people own it, the value is still only slightly above zero.  Given the fact that for the value to increase, it requires millions of participants to willingly submit to an extortion scheme, the whole thing becomes a joke.

Whether it's a central banker power grab scheme or not probably hinges entirely on whether the coins are distributed by a single entity or the protocol itself.

You have to give credit where credit is due, Russia is the leader in creating the two biggest, for personal profit schemes in cryptoland so far.