How to avoid being cheated by altcoin developer - page 2.

coin-investor

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Quote from: Jessica Ruder on March 22, 2020, 09:57:04 PM

If I hire a developer to create a fork of Bitcoin with a small premine. How do I make sure I get my premine and that the developer hasn't ripped me off. Is there a way to know for sure that I have received my premine? What would be the steps when launching the network to verify the developer hasn't done anything 'tricky'? Thanks!

Get a reputable developer with good feedback and a good ranking in the community and everything will be fine, I don't recommend for people to launch their project or coin without knowing anything about coding, it's risky especially if it happens to be a smart contract, you might regret later.

el kaka22

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Quote from: Jessica Ruder on March 22, 2020, 09:57:04 PM

If I hire a developer to create a fork of Bitcoin with a small premine. How do I make sure I get my premine and that the developer hasn't ripped me off. Is there a way to know for sure that I have received my premine? What would be the steps when launching the network to verify the developer hasn't done anything 'tricky'? Thanks!

There is really not a "sure" way to know beforehand, they will do it and they will give it to you and that is how you learn if they cheated you or not. Technically of course, otherwise just get in the same room with them, watch them work and basically be on top of them everyday to make sure they do not cheat you from anything.

However, I have always said that incorporate if you want to do big business stuff. If you incorporate you will have the rights to get all the information you need from the people you work with, so if they cheat you or do something you can literally call the cops and start a legal action with ALL their info as well, in that case they will not want to scam you because if they do everyone will be looking for them and they will go to jail, nobody would want to do that. So if you want to make sure, become a company and hire a lawyer.

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Quote from: Skieleton on May 06, 2020, 10:37:47 AM

Quote from: Jessica Ruder on March 22, 2020, 09:57:04 PM

If I hire a developer to create a fork of Bitcoin with a small premine. How do I make sure I get my premine and that the developer hasn't ripped me off. Is there a way to know for sure that I have received my premine? What would be the steps when launching the network to verify the developer hasn't done anything 'tricky'? Thanks!

It's always risky to hire a stranger. There are companies on the market that have been helping in mining and investing in cryptocurrencies for years. They usually get % of their income ... read about it

When there was someone issuing the smartcontract and he can also try to make how much pre mined coin that will be sent for the creator of the contract it's not about mining altcoin
What he needs to learn more about programming and it looks like you must read what he was writing before for twice.

Skieleton

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Quote from: Jessica Ruder on March 22, 2020, 09:57:04 PM

If I hire a developer to create a fork of Bitcoin with a small premine. How do I make sure I get my premine and that the developer hasn't ripped me off. Is there a way to know for sure that I have received my premine? What would be the steps when launching the network to verify the developer hasn't done anything 'tricky'? Thanks!

It's always risky to hire a stranger. There are companies on the market that have been helping in mining and investing in cryptocurrencies for years. They usually get % of their income ... read about it

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Quote from: WalkerIVIV on May 06, 2020, 06:03:58 AM

Quote from: enhu on March 23, 2020, 02:51:04 AM

I'm not a miner but as far as I know it can be checked how much blocks were mined and the number of coins per block, I guess you can do all the math in that and expect how much has to be sent to your account. But you really can't help becoming suspicious to anyone you hired because when it comes to money its going to break bonds.

Did you watched it properly? it's not about miner but it's premined coin. that's differenet between miner and pre-mined coin.

It's about how to prevent the developer that we didn't know about him to create a backdoor or putting the vulnerable code and it's not related to the block on the blockchain.

Nope. I read it.

When you find out thru the specs that what is sent to you aren't all that's premined then that dev can't be trusted. Its too late when you find out however but if hiring these devs from upwork meant you know their profiles, they might think twice for there are ratings in the freelance site.

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Quote from: Jessica Ruder on March 22, 2020, 09:57:04 PM

If I hire a developer to create a fork of Bitcoin with a small premine. How do I make sure I get my premine and that the developer hasn't ripped me off. Is there a way to know for sure that I have received my premine? What would be the steps when launching the network to verify the developer hasn't done anything 'tricky'? Thanks!

It is just about hiring the person you personally know to be worth trusting. If you don't know the person thoroughly, then the risk of you getting ripped off is always there. So it is either you know the person on a personal level or you hire someone who has got a reputation worth keeping that ending up betraying you would burn all his entire reputation and potential business opportunities in the future.

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Quote from: JeotQ on May 06, 2020, 07:18:13 AM

Quote from: Jessica Ruder on March 22, 2020, 09:57:04 PM

If I hire a developer to create a fork of Bitcoin with a small premine. How do I make sure I get my premine and that the developer hasn't ripped me off. Is there a way to know for sure that I have received my premine? What would be the steps when launching the network to verify the developer hasn't done anything 'tricky'? Thanks!

What? This is a stupid plan all together, sorry to say but I think its all safer if you get things together yourself, if you are so interested in your own Premine box why can't you just build your own project? It's safer this way I think

Agree, instead of making fork coins from Bitcoin, it's better to make a new project with a clear use case for business. Premine coins tend to make investors less trustworthy and without premine coins that make Bitcoin trusted by many investors because no one dominates coin ownership

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Quote from: Jessica Ruder on March 22, 2020, 09:57:04 PM

If I hire a developer to create a fork of Bitcoin with a small premine. How do I make sure I get my premine and that the developer hasn't ripped me off. Is there a way to know for sure that I have received my premine? What would be the steps when launching the network to verify the developer hasn't done anything 'tricky'? Thanks!

What? This is a stupid plan all together, sorry to say but I think its all safer if you get things together yourself, if you are so interested in your own Premine box why can't you just build your own project? It's safer this way I think

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I think it's still a big risk too if you pay people for the fork coins that you want, and that online. because the monitoring will be very minimal and prone to fraud because you will never know the real situation. my advice if you want to do coin development or fork, it's better to gather a real team that can gather directly, so you can directly monitor the activities of the team directly.

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Quote from: Jessica Ruder on March 22, 2020, 09:57:04 PM

If I hire a developer to create a fork of Bitcoin with a small premine. How do I make sure I get my premine and that the developer hasn't ripped me off. Is there a way to know for sure that I have received my premine? What would be the steps when launching the network to verify the developer hasn't done anything 'tricky'? Thanks!

Just report it here in the scam section but before you hire someone be sure has a service thread here first, developers wants reputation intact because if they will do that they will lose their business, and to make the deal good and fair get an escrow it's fair for both of you, just hire a reputable developer and you are good to go.

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Quote from: Neoterix on May 06, 2020, 06:08:30 AM

Quote from: Jessica Ruder on March 22, 2020, 09:57:04 PM

If I hire a developer to create a fork of Bitcoin with a small premine. How do I make sure I get my premine and that the developer hasn't ripped me off. Is there a way to know for sure that I have received my premine? What would be the steps when launching the network to verify the developer hasn't done anything 'tricky'? Thanks!

If you are not a developer, don't even try!

Why because you will end up with a worthless coin, because the chain will have bugs, will need updates, wallet upgrades.

Even he/she won't trick you, who will make all this after you launch the coin?

Exactly! The work doesn't stop after creating the coin. There are so much things to do after that. And if you can't handle such job, better forget it. There are a lot of worthless forked coins already so please don't add another one. The likelihood of being cheated is high because it seemed that you don't know about this job. Better invest on quality projects rather than create a crap coin.

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Quote from: Jessica Ruder on March 22, 2020, 09:57:04 PM

If I hire a developer to create a fork of Bitcoin with a small premine. How do I make sure I get my premine and that the developer hasn't ripped me off. Is there a way to know for sure that I have received my premine? What would be the steps when launching the network to verify the developer hasn't done anything 'tricky'? Thanks!

If you are not a developer, don't even try!

Why because you will end up with a worthless coin, because the chain will have bugs, will need updates, wallet upgrades.

Even he/she won't trick you, who will make all this after you launch the coin?

morganfinancial

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The Money Wire Transfer Scams due to which consumers lose millions of dollars each year. Services like MoneyGram, Western Union and others allow us to send money offshores quickly. You can use them to send to anyone like your relatives or friends but con artists have been really smart nowadays and dupe people via using these exact services itself.
https://www.morganfinancialrecovery.com/money-wire-transfer-scam

WalkerIVIV

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Quote from: enhu on March 23, 2020, 02:51:04 AM

I'm not a miner but as far as I know it can be checked how much blocks were mined and the number of coins per block, I guess you can do all the math in that and expect how much has to be sent to your account. But you really can't help becoming suspicious to anyone you hired because when it comes to money its going to break bonds.

Did you watched it properly? it's not about miner but it's premined coin. that's differenet between miner and pre-mined coin.

It's about how to prevent the developer that we didn't know about him to create a backdoor or putting the vulnerable code and it's not related to the block on the blockchain.

joseyphil82

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Become a developer yourself but do not try to hire one because you can easily be cheated someway or the other, you can even become a better developer if you are ready to learn, it's not that hard, you can start with platforms that got everything ready in one, for example it's easier with ERC20 smart contract, just do some research

enhu

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I'm not a miner but as far as I know it can be checked how much blocks were mined and the number of coins per block, I guess you can do all the math in that and expect how much has to be sent to your account. But you really can't help becoming suspicious to anyone you hired because when it comes to money its going to break bonds.

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Quote from: Jessica Ruder on March 22, 2020, 09:57:04 PM

If I hire a developer to create a fork of Bitcoin with a small premine. How do I make sure I get my premine and that the developer hasn't ripped me off. Is there a way to know for sure that I have received my premine? What would be the steps when launching the network to verify the developer hasn't done anything 'tricky'? Thanks!

I am not sure about bitcoin fork, but if you create an ERC-20 token on ETH blockchain, it is possible to check total supply of the coin and the list of addresses holding those coins.
Read the below link,

https://ethereum.stackexchange.com/questions/13776/how-do-you-track-total-supply-of-a-currency-smart-contract-on-the-ethereum-blo

In bitcoin blockchain, it is not possible right at this moment, but I believe some coder may be able to help you with this.

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Quote from: Jessica Ruder on March 22, 2020, 09:57:04 PM

If I hire a developer to create a fork of Bitcoin with a small premine. How do I make sure I get my premine and that the developer hasn't ripped me off. Is there a way to know for sure that I have received my premine? What would be the steps when launching the network to verify the developer hasn't done anything 'tricky'? Thanks!

This is simple. Work with him personally since you hired him with pay. Part of your job as the owner to monitor every moves and develpment he has done. Of course this include finding a legit developer. This is important as you need to secure the project details especially you are targeting a fork of bitcoin. My advise, dont pursue forks but create an altcoin project which is more easy to handle. Yeah altcoins are mostly shit but depends on the project you are gonna create.

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Quote from: TanakabZX on March 23, 2020, 01:03:35 AM

Quote from: Jessica Ruder on March 22, 2020, 09:57:04 PM

If I hire a developer to create a fork of Bitcoin with a small premine. How do I make sure I get my premine and that the developer hasn't ripped me off. Is there a way to know for sure that I have received my premine? What would be the steps when launching the network to verify the developer hasn't done anything 'tricky'? Thanks!

Learn how to create from scratch instead of looking for a developer to get the job done for you, I'm sure you will be put in the dark if you let another person build a project for you and it's all about money isn't it? Get ready to be cheated

For the sake of money, people will always do it in a way and be able to make people do anything. I think it's about trust and if you want to make a new project from fork bitcoin, I think at least we understand about the blockchain and its programming

Kupid002

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Quote from: akhjob on March 23, 2020, 12:38:37 AM

Quote from: Jessica Ruder on March 22, 2020, 09:57:04 PM

If I hire a developer to create a fork of Bitcoin with a small premine. How do I make sure I get my premine and that the developer hasn't ripped me off. Is there a way to know for sure that I have received my premine? What would be the steps when launching the network to verify the developer hasn't done anything 'tricky'? Thanks!

If you are not a developer yourself, you cant find if your altcoin developer is cheating you. So it is better to employ an experienced and good developer who has a good reputation for himself in the community. Reputed developers most probably wouldn't do anything tricky or try to scam you as it will damage their reputation.

Also hired only a person you really know personally or know where this persons can be find in case there will be a problem about the coins he forked.

Hiring a people blindly will be your longterm problem if that persons cant really trust it will damage the coin reputation and your own reputation also.

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