Topic: IMPORTANT LIBERTYCOIN SCAM EXPOSED XLB - page 8. (Read 15132 times)

FUD from an account with 0 post. Coward.
Ask yourself. What's this person's motivation to help you, or to help themselves?

That was alot of reading, skip that liberty stuff and mine ACT man.

The Group Behind The Libertycoin Scam


What I am about to write will without a doubt cause a rift within our community , but I feel this is something I must do to protect the investment of innocent people who believe in LibertyCoin. I ask everyone whether you support me or not, to  carefully read and analyse my words without prejudice.

When I first started invested in this community I was enthusiastic to be part of a community that is inspiring and full with enthusiasm.  For a couple weeks I have known about a coordinated effort to pump the price of Liberty coin. I did not make it officially public because of the ramifications it would have on this community. I thought with the help of others I could stop or at the very least greatly diminish this without letting the general public know, unfortunately we were unsuccessful.

There is a prominent group in the libertycoin thread that are all responsible for manipulating the price of LibertyCoin for a couple weeks.

Their group owns roughly 91% of the total supply of LibertyCoins. But that is not what they really want, they want your Bitcoin.  Since they could not take control of  BC They decided to create their own coin to profit off of. They wanted it to seem like a fair release so they came up with the idea of using the official multi-pool to steal everybody's hash and keep the coins for themselves. They would trick everyone into thinking it was the multi-pool fault so they could keep the coins in what would be an disguised instamine launch.  They would list it as a 5 day launch but sped up the block times to make sure it only lasted 3.5 days.  They would then move the coins to hundred of different wallet address, create fake bitcointalk accounts in order to give the illusion the coin was fairly distributed.  Step 1 complete

I had no clue at the time any of this was occurring until Troiste started to actively post in the black coin thread that Libertycoin would be the next coin to pump.  This is when Step 2 came into play.  They had 91% market cap of a coin worth $10.000 now they needed to increase this to at least $1.100.000 in order to have a big payday.  In order to do this they simply bought and sold to themselves so that they retain both the bitcoin and the liberty coin but give the illusion of lots of interest and money flowing into the coin.  This can be done relatively cheaply as it only cost about 0.82 btc in fees per 542btc worth of volume at a price of 0.00005500.  With that sort of volume you quickly get noticed and brought onto Mintpal. 

Step 3 pump and fleece, By then pumping the price up until enough new money came in they could then smash the price down and buy half back collecting more and more btc each time by organizing pump and dumps.  They then planned to try and get new money, by getting you to encourage your family and friends to put all their hard earned money in, so that they can cash out over a million dollars in a little under a few weeks.  In the meantime they sell you  a copycat project that allows them to make extra profit and try to make it look that they are legitimately working to promote the coin.  Well toting it as the next big thing.

Everything in this coin is simply a copy and paste half assed effort, they will use images and words of encouragement that Libertycoin will be the next big thing, but look at the facts and stop fooling yourself. There is only a small group of people that will make a million plus and your not included. The best scam is when people don't even know they have been scammed.
Step 4 they will use fake accounts to get angry and post fud about them so they can say their not appreciated and exit to create their own coin in June as scheduled.

Now please ask yourself these questions:

If the coin code is copy and paste, of badger/hack which is a copy paste of nova which is a copy paste of peercoin how will this coin succeed?
Why is the press releases and paper wallets copy and paste?
How can you claim it was a fair launch when it didn't even last 4 days? (Think bitcoin/litecoin/peercoin/darkcoin how long have they been mined)
Why did they delete everybody's post who had coins stolen from the multi-pool?
How is it legal to offer free escorts when it may be illegal in their jurisdiction?
What are you using to implement anonymous technology? 
Who is doing it for a 2 btc bounty when other coins couldn't find anybody to do it for under 50 btc?
Why does Iconicexpert have access to the dev account, since he is not a developer? (Most devs will simply let the community know who is the marketing direct, not give them access to their personal account)
Why is there no white paper, is it just fedoras mixer and an encrypted block chain?
what are the "unique properties" as  you state that Liberty coin has unique properties?
What new an exciting payment methods not covered by other payment systems does it offer since you make that claim?
Why do you censor peoples liberty in the official thread?  (Taking away liberty from libertycoin)

Now you can believe me or you can think this is some lame attempt to get you to sell cheaper but please start asking yourself these questions.  If you saw a way that you could use money donated from one coins community to fund a scam that would net you around a million dollars in under a month would you?

I  felt this was my last option because after today they would be unstoppable. I was faced with a hard decision to make. If I did not say anything people will continue to be ripped off. If I do say something my revelation might cause investors to lose faith in the coin. So I did not make this decision without giving it a lot of thought and time.

This is a signal to start dumping coins! Try to Recoup as much of your investment as you can!   Let them hold their bag of shit although they have probably already made at least 100 btcs off of it.

Please share this information in anyway you can, get it out quickly before their Libertyday fleeces millions from people
Now you know what is going on behind the scenes, here are some of the quotes that will help expose this scam: