I0Coin is a SCAM - page 3. | Bitcointalksearch.org

Raoul Duke

legendary

Activity: 1358

Merit: 1002

Quote from: ArtForz on August 18, 2011, 07:50:34 AM

Quote from: Raoul Duke on August 18, 2011, 07:36:49 AM

Quote from: Oldminer on August 18, 2011, 07:31:51 AM

Well well..what have we here LOL...

So ioucoins has its own scam thread now?

Oh, it's still very far from reaching the ammount of pages your dear "Ixcoin is a SCAM" thread has... and probably never will reach it.

Disclaimer: My above statement doesn't mean that I0coin is less of a scam than Ixcoin is.

Less of a scam than ixcoin? Obviously, simply for the reason of having no anonymous founder sitting on 500k coins.
Not a scam? Well... not a *intentional* scam. Imo the whole thing will end up as a pyramid scheme with "investors" holding a bunch of worthless coins simply because it's a alternate blockchain bringing nothing of real value to the table.
So... why did I mine it? Well... why not? I also threw > 10Ghps at testnet for a day just for fun.

I was just trying to point out to oldminer that I'm in no way deffending I0coin. Nothing more.
He has a background of misunderstanding what people say and jump on it to defend Ixcoin and attack I0coin(just look at his signature) Roll Eyes

ArtForz

sr. member

Activity: 406

Merit: 257

Quote from: Raoul Duke on August 18, 2011, 07:36:49 AM

Quote from: Oldminer on August 18, 2011, 07:31:51 AM

Well well..what have we here LOL...

So ioucoins has its own scam thread now?

Oh, it's still very far from reaching the ammount of pages your dear "Ixcoin is a SCAM" thread has... and probably never will reach it.

Disclaimer: My above statement doesn't mean that I0coin is less of a scam than Ixcoin is.

Less of a scam than ixcoin? Obviously, simply for the reason of having no anonymous founder sitting on 500k coins.
Not a scam? Well... not a *intentional* scam. Imo the whole thing will end up as a pyramid scheme with "investors" holding a bunch of worthless coins simply because it's a alternate blockchain bringing nothing of real value to the table.
So... why did I mine it? Well... why not? I also threw > 10Ghps at testnet for a day just for fun.

Raoul Duke

legendary

Activity: 1358

Merit: 1002

Quote from: Oldminer on August 18, 2011, 07:38:56 AM

Quote from: Raoul Duke on August 18, 2011, 07:36:49 AM

My above statement doesn't mean that I0coin is less of a scam than Ixcoin is.

Thanks. You really are a simpleton arent you? Grin

Not as much as you are, and not as much as scammers wish i was...

Oldminer

legendary

Activity: 1022

Merit: 1001

Quote from: ArtForz on August 18, 2011, 07:40:06 AM

So now we're even too lazy to come up with original FUD and resort to copypasta.

Sorry bud - it gets kinda 'busy' round here lol....

ArtForz

sr. member

Activity: 406

Merit: 257

Quote from: Oldminer on August 18, 2011, 07:31:51 AM

Well well..what have we here LOL...

So ioucoins has its own scam thread now? Interesting. But imo, for anyone that was ready to mine iocoin at its release, it's in no way surprising...it was only a matter of time. Hell, I could have started the thread myself, but I figured I'd let things take their natural course. But lol..aint karma a bitch?

As I stated in another thread -

"In my opinion the whole thing was dodgy from the very beginning - imo right from the outset no-one could mine. The creators of this scam uploaded software that simply didnt exist on release and then they re-released it and the files were there but the software didnt work. Then they had to release it again. Once it did work an hour or more later (at least to some degree for some people from what I have read), IO Guild put a message up on their website along the lines of 'when you're finished with this ponzi scheme come mine Bitcoins at BT Guild' (I'm not sure how much more obvious you can make it than that) and then this was promptly taken down when some of the people mining ioucoins took offence to it. Seriously...the whole thing stinks. Course there's people on the exchange now trying to flog off their coins to anyone that will buy.."

haha..

So now we're even too lazy to come up with original FUD and resort to copypasta.

Oldminer

legendary

Activity: 1022

Merit: 1001

Quote from: Raoul Duke on August 18, 2011, 07:36:49 AM

My above statement doesn't mean that I0coin is less of a scam than Ixcoin is.

Thanks. You really are a simpleton arent you? Grin

Raoul Duke

legendary

Activity: 1358

Merit: 1002

Quote from: Oldminer on August 18, 2011, 07:31:51 AM

Well well..what have we here LOL...

So ioucoins has its own scam thread now?

Oh, it's still very far from reaching the ammount of pages your dear "Ixcoin is a SCAM" thread has... and probably never will reach it.

Disclaimer: My above statement doesn't mean that I0coin is less of a scam than Ixcoin is.

Oldminer

legendary

Activity: 1022

Merit: 1001

Well well..what have we here LOL...

So ioucoins has its own scam thread now? Interesting. But imo, for anyone that was ready to mine iocoin at its release, it's in no way surprising...it was only a matter of time. Hell, I could have started this thread myself, but I figured I'd let things take their natural course. But lol,..aint karma a bitch?

As I stated in another thread -

"In my opinion the whole thing was dodgy from the very beginning - imo right from the outset no-one could mine. The creators of this scam uploaded software that simply didnt exist on release and then they re-released it and the files were there but the software didnt work. Then they had to release it again. Once it did work an hour or more later (at least to some degree for some people from what I have read), IO Guild put a message up on their website along the lines of 'when you're finished with this ponzi scheme come mine Bitcoins at BT Guild' (I'm not sure how much more obvious you can make it than that) and then this was promptly taken down when some of the people mining ioucoins took offence to it. Seriously...the whole thing stinks. Course there's people on the exchange now trying to flog off their coins to anyone that will buy.."

haha..

JoelKatz

legendary

Activity: 1596

Merit: 1012

Democracy is vulnerable to a 51% attack.

The value of these coins is so close to zero, it's really not worth fighting over. If you're bummed you didn't get as many as you expect, wait until an exchange opens, spend $1,000, and buy a buttload of 'em.

When the Ixcoin exchange opened, someone bought 230,000 coins for around $1,100.

ArtForz

sr. member

Activity: 406

Merit: 257

Quote from: bitv on August 18, 2011, 02:02:20 AM

Quote from: caston on August 18, 2011, 12:46:24 AM

1) wait until someone launches new p2p currency
2) have pool ready
3) get everyone to mine new p2p currency on your pool
3) use your less than 1 ms latency to mine the shit out of new p2p currency while your pool ensures that you control the blockchain
4) if people complain about only stales while your getting all the blocks blame it on the low difficulty
5) dump coins on exchange to get all the investors bitcoins
6) profit

This is not i0coins's fault and does not make it a scam.

It's also flat out wrong.
Maybe next time try using a miner that can handle > 1 longpoll/second and doesn't need half a eternity from finding a H==0 to submitting a share.
I did that, got >700 of the early blocks with 6Ghps and a 180ms ping to io.btcguild.

bitv

newbie

Activity: 34

Merit: 0

Quote from: caston on August 18, 2011, 12:46:24 AM

1) wait until someone launches new p2p currency
2) have pool ready
3) get everyone to mine new p2p currency on your pool
3) use your less than 1 ms latency to mine the shit out of new p2p currency while your pool ensures that you control the blockchain
4) if people complain about only stales while your getting all the blocks blame it on the low difficulty
5) dump coins on exchange to get all the investors bitcoins
6) profit

This is not i0coins's fault and does not make it a scam.

caston

hero member

Activity: 756

Merit: 500

1) wait until someone launches new p2p currency
2) have pool ready
3) get everyone to mine new p2p currency on your pool
3) use your less than 1 ms latency to mine the shit out of new p2p currency while your pool ensures that you control the blockchain
4) if people complain about only stales while your getting all the blocks blame it on the low difficulty
5) dump coins on exchange to get all the investors bitcoins
6) profit

As a side node I was going to transfer money to mtgox to buy bitcoins to buy i0coins. Very glad I didn't now. My last transfer of $800 AUD is nearly entirely down the toilet thanks this rubbish mostly lost on IXcoin but my hashing power was wasted on i0 coin.
I'm sure the guys that hold most of the i0 coins will relieve the other ~~suckers~~ investors of their bitcoins soon.

caston

hero member

Activity: 756

Merit: 500

Xephan: Yeah I just withdrew ~140 from i0.digbtc.
I wanted to sell them before I went to bed though as I expected a crash.

I do remember there was something about a DDoS attempt in i0 guild at the time.

smoothie

legendary

Activity: 2492

Merit: 1473

LEALANA Bitcoin Grim Reaper

Quote from: dub0matic on August 17, 2011, 01:40:50 PM

what happened to the exchange

Yeah it appears that the i0coin exchange is down as well as the i0pool. DoubleC??

dub0matic

full member

Activity: 182

Merit: 100

what happened to the exchange

kr105

hero member

Activity: 938

Merit: 501

Quote from: wallet.dat on August 17, 2011, 12:17:11 PM

We should have known it was a scam from the get go when it was advertised as an "Ixcoin fork". I mean I'm not sure how much clearer it could have been.

Yeah, thats why i forked the bitcoin client and worked from that code directly.

wallet.dat

sr. member

Activity: 253

Merit: 250

We should have known it was a scam from the get go when it was advertised as an "Ixcoin fork". I mean I'm not sure how much clearer it could have been.

Xephan

newbie

Activity: 42

Merit: 0

Quote from: caston on August 17, 2011, 11:32:42 AM

Yeah I forgot the exact time. I actually barely slept at all last night but I had a PC repair job this morning. Came back from that and spent most of the day sleeping while my miners purred in the background.

http://i0.digbtc.net/ for me seems to bring up a blank page. http://www.digbtc.net/ does seem to take a long time to respond but did come up eventually.

io.digbtc.net comes up almost instantly for me, despite close to 300ms ping. On the other hand www.digbtc.net takes a while to respond despite the server pinging under 200ms. Cheesy

You might want to traceroute the pools and see which is actually better for you. It might be how your ISP routes to the pool that's causing your mining efficiency to drop even further.

caston

hero member

Activity: 756

Merit: 500

Quote from: Xephan on August 17, 2011, 11:13:47 AM

Quote from: caston on August 17, 2011, 11:02:45 AM

yes I got about 9 coins from btc guild.. it didn't seem right at all which is why I changed to http://i0.digbtc.net/
but their page seems down now for some reason

Still up for me. When did you switch to i0.digbtc.net? If 9 coins were all you got from BTCG, then I would assume the rest of your 81 coins at the time you posted about having 90 coints, were all from i0digbtc?

I think that maybe if you had stuck to btcg, you would had came out ahead. I had pretty much zero coin for the first few difficulties but that was pretty much expected. Once it took more than 2~3 shares per block, my coin rate went up tremendously. Due to the sheer amount of hashing power BTCG have, it would also had been able to void/orphan blocks from other pools as well simply by racing ahead with a longer blockchain.

Yeah I forgot the exact time. I actually barely slept at all last night but I had a PC repair job this morning. Came back from that and spent most of the day sleeping while my miners purred in the background.

http://i0.digbtc.net/ for me seems to bring up a blank page. http://www.digbtc.net/ does seem to take a long time to respond but did come up eventually.

twobits

sr. member

Activity: 574

Merit: 250

Quote from: Xephan on August 17, 2011, 11:08:45 AM

Quote from: twobits on August 17, 2011, 10:59:24 AM

Fair enough. I do think that without the bounties, the services made for ixcoin and also i0coin would not have been made so quickly though.

It will be interesting to see how much interest either of these chains has in another month or two.

The bounties do help of course. The problem, which many of us pointed out, was the sheer amount. The pre-existing coins will have an effect on the valuation of the forked coin. So having 5800 would had probably been as good as 580K simply because each would be valued more anyway. If I'm not wrong, due to this i0coin is trading for twice or thrice the ixcoin value?

Yeah. Don't know if that is why, or just because it is now the newest chain, so hence where the actions is. At this point I am waiting a month or two then checking where the prices are before I draw any conclusions which is preferred by people.

Topic: I0Coin is a SCAM - page 3. (Read 7319 times)