Topic: How to start your very own shitcoin scam in 6 easy steps! Inspired by DRK/DASH - page 4. (Read 5484 times)

I think that's a very good guide for noob scammers who would like to make money in crypto world.

everything you wrote is true, n everyday lot more ppl are hating altcoins

By doing more better research than you  

lol then how did you get your monero 

Idiots who still buy this coin despite the negative publicity are still idiots.

FTFY

A fair launch meaning no instamine? Come on man we're not in this for the love! We're here to extract as much money as we can by any means necessary. Please see step 1.

That's what my post meant, just not in those words.  Even if you plead incompetence for these decisions all stacked on top of each other, you have to take into account Bitcoin itself would never have gotten off the ground if it had these problems.  The coin should have been re-launched from the second it was discovered block reward was 10x higher than it should be.  Even coins that no longer exist such as GPUcoin that made the same mistake relaunched theirs.

My GPUcoin wallet read like "999,999,999".  He launched it again and it did the same thing.  People said he looked like a serial killer but was more like a serial launcher.

Too bad that the chance is quite big that all of this info is actaully true and that it really is a shitcoin after all.

Definitely the most amusing "potential problems with darkcoin" thread so far.

.

I do not trust altocoins and when I recieve any transaction in them , I exchange it to bitcoin as soon as possible to avoid their unstable prices 

The whole altcoin community in a nutshell.

A few ideas tho to continue further:

Once the coin is dead but you still have some left, "Community Takeover" solves all your problems and allows you to drop the bag.
And if after many projects you still have a decent bag of everything you can try merging them together. Seems to also work.

This thread is for open discussion on how you can have your very own shitcoin scam by using these tried and true techniques.

We'll be using Darkcoin/Dash as the main example since they pioneered many of the deceptive scam techniques discussed in the following steps!

Maybe you need to recoup some losses from a bad crypto investment? Maybe you just want to improve your life circumstances? Use the following techniques and start making BTC today!


How to launch a shitcoin scam in just 6 easy steps!


Step 1. Mislead as many people as possible about the launch time. Like so:




"Definitely not."  

We all know he went on to launch it a couple of hours later, despite his confirmation that he'd wait until the next day at the earliest. Bravo Evan, you're a class act. The pinnacle of integrity and professionalism!

TIP: Don't announce any features in your ANN at launch time. Withhold any plans you have for your coin. It should look as generic a shitcoin as possible in order to eliminate even more competition during our instamine period! Make sure you call the coin something really stupid and generic like "Xcoin", we will change the name several times later on.

The more successful you are with Step 1, the more it will help your instamine in Step 2!


Step 2. INSTAMINE! INSTAMINE! INSTAMINE!




Time to instamine your coin! eduffield sets another fine example here with his Linux-only release. This ensures an optimal instamine period without any pesky windows miners getting in the way of it. Eduffield set the bar very high, he managed to instamine 1.5 million coins in just the first 8 hours of launch!

The best part about this technique is that we can get many more coins than a premine and it won't be displayed on Coinmarketcap as being 'significantly premined'! Taking into account the 5.7 million DASH in current supply,  26.31% of coins in circulation were scam instamined in 8 hours. See if you can beat his record!

It's also important to ignore questions about the huge instamine for as long as possible. Deny it ever happened. Viciously attack anyone who posts irrefutable proof of the massive instamine scam. Try to discredit them. Call them trolls and put their names on "troll lists."

***Bonus points if you advertise "No premine" in your ANN title like Evan has done here (despite the massive 1.5 million instamine in the first 8 hours of launch).  Did i mention the integrity and professionalism?



Step 3. Lower the total supply and cut the mining rewards drastically once you're done instamining. This is a no-brainer!

-Lower the supply of coins that can ever exist from 80 million to 20 million.
-Cut the mining reward from 500 coins per block to 5 coins per block.

No one will notice. If they do, we'll just call them trolls, try to discredit them and put them on "troll lists" (see Step 2)

We'll also take this opportunity to make exaggerated claims to make the ANN sound better (now that we're done instamining):

- Take 11 existing hash functions, chain them together. Call it "X11" and say you invented it.

- Take CoinJoin's work, implement it in a HYIP masternode scheme. Call it "Darksend" and say you invented it.

Have a look at the innovation found in the X11 algorithm. Absolutely breathtaking!


Step 4. When your fraudulent instamine gets noticed, start a "Vote" to airdrop an additional 2 million coins (created out of thin air by eduffield) to balance out the fraudulent instamine. Stop the vote early when a few of the other insider instamine scammers complain!



Step 5. When people start rebelling against the scam, no problem. Just change your name! Then change it again!



Step 6. Release yet another gimmick that takes coins from miners and puts them in your pockets. Call them "Superblocks" because it sounds cool. Make sure to call it "decentralized voting" even though 1 person/entity controls over 50% of all masternodes and thus 50% of the vote! Ignore this fact. Call this income stream/dev tax a "feature" and use it to distract from not delivering on your "masternode blinding" feature you announced previously. Don't mention this failure. Ignore any questions about it and just hope people stop asking.