Topic: Is the alternate cryptocurrencies market being monopolized? - page 3. (Read 6555 times)

Minerals Dev just posted Pool.mn information on a ninja lauch
https://bitcointalksearch.org/topic/minerals-dev-just-posted-poolmn-information-on-a-ninja-lauch-652220

https://bitcointalksearch.org/topic/m.7319877



the whole lunch was a clusterfuck.

the pool owner was allowing people to mine without restriction. for hrs peopel had 500mhs/s each. Even after we were complaining they took their time to block and enforce the 50 mh/s restriction.

The pools were all set up by pool.mn peeps. so its funny you attackother pools yet a major pool one ran this

as you can see. after few hrs they lunched on other coin. clearly shows pool.mn/minerals will not spend too much dedication to this coin. its just a pump and dump.


the only thing this coin got going is that it fooled their miners and they stayed loyal. So that is nice. Meaning that some of them might try to keep this coin from dying for like a month. So it could be a fun trading experience. but thats all

the whole Starcraft thing is a flop. Blizzard will sue them the moment they try to sell anything trading goods.



which pissed me off since i love starcraft and i love crytpo-coin. i think there is room for tons in the top. but if they do not play fair in the beginning, will most likely not play far later.

"I am here for the goodness of Crypto. "

  lmao!

I've been involved with a few coins at launch - and Minerals had the fairest distribution I think I have ever seen.
Everything was above board and NO-ONE was excluded, just asked to limit the individual hashrate to 50MH/s per work.
The large pools didn't want that, their preferred method is to hashrape the new coins with all the power they can muster - leaving the little GPU miner with next to nothing.
Still, they were not excluded - just allowed to mine up to the 50MH/s limit like the rest of the little people.
Then the threats started................ "You'll be mining air" has to be the best

The large pools ARE putting pressure on the exchanges to do what they want - why else would Minerals NOT be listed on the larger exchanges (given some of the true shitcoins they are happy to handle on a daily basis).

Shine the light people, tell your friends and re-tweet "MIN for the win" - shine the light on these collusive fuckers and take back crypto for the little guy 

I'm not saying Minerals is monopolized. If the initial mining period was honest then it is way more fair than others.

If there is really such a thing. It would be more dangerous to the cryptoworld than one monopolized coin...
I wish to know more about this, and will do some research at my own.
Will post here if i find something.

Thank you. It is really disconcerting for me to see this organized attacked from so many pool owners, which obviously indicates that they do communicate and monopolize, but to what degree I do not know.

Dev of Mineral Coin this parabens, a coin made ​​so far very good mining some regular days and now I'm mining for the multipool and paying this just right, and her price valuing this, speak now something to take fashion to limit hashrate 50 mhs catch al that will have people crying in kkkkk

I'd say you deserve some answers brother.  Props on your effort to make this case as you have.

That guy from dedicated pools... It's clear why he's so upset. He was in hurry to fastly inform exchanges and other pools to ignore "coin".
Also he's talking about quality of his pool, 5 of 10 times he's pool is "under heavy load" So what quality is that? Also that cloud flare - cheper then to have it's own.

I still Have some axis coins on his pool because he's lazy bastard who has other priorities then to update axis wallet (now about week)
Mined there since his pool had almost 100% of hashrate. Yes, who's is talking about "Centralization"

He chooses to be member of those ~150 peoples, his problem,  and probably he will profit. Meaning i, small miner, is totally inessential.
At least i felt bit bigger miner with minerals.

Bittrex - will just quote.

You point out some interesting contradictions.

Interesting summary, thank you. Made some conclusions about bittrex and some pools.

Thanks fixed.

Hey glad to see you start this thread

Let's all go trade decentralized http://thecoinfront.com/blackhalo-aims-to-save-bitcoiners-from-another-mt-gox-scenario/
BlackHalo is on it's way ^^"

Also, Bittrex isn't the biggest crypto-exchange. Here is a list: http://www.cryptocoincharts.info/v2/markets/info
Not all are pure altcoin-exchanges, but the biggest are Mintpal and Cryptsy in their category. Though Bittrex is climbing its way up

+1 - followed this from the start and the behaviour of the "large operators" is nothing short of consolidation of a monopoly position

Their attitude has been, quite simply, "No way for us to affect the outcome, so we are going to try and bomb you from orbit"

If you are mining on their pools then you are being taken for a ride, BIG time.

Chances are you are mining a shitcoin for them?

This Minerals coin has had the fairest possible distribution, with NO PREMINE (that's right, you read it correctly) and yet it is still being called unfair by hashfarmers and feckless parasites.

Bunch of monkeyballsuckers  

I think you answered all those questions and more in your own post. People will get tired of being played eventually. I don't know if Minerals is the coin to wake anybody up but it did start a very interesting conversation for sure.

Disclaimer: This post is NOT mainly about MineralsCoin (but rather its concept), but I had to mention it heavily because it is the catalyst for this whole reaction.
This post is about how some pool owners, together with big exchanges and probably big farmers monopolize the market on the expense of small miners and possible investors.

I wanna apologize of the lengthy post, so bear with me it, but let’s start:

About a week ago (June 12th) a new coin came to life – MineralsCoin (https://bitcointalksearch.org/topic/annmin-minerals-pos-developing-own-anon-solution-641057).
This coin came with the idea to challenge the unfair distribution that most, if not all coins before it had.
And by unfair I am talking about farms taking over a coins network, mining the majority of it, while being the minority (in sheer number) and then dumping it, leaving small miners (the majority) with nothing but leftovers, if they’re lucky.
The developers of MineralsCoin decided that in order to allow a fair distribution of the coin, they would have to limit the hashrate that each individual could use, and the only way to do so is by controlling all the pools of the coin during its PoW phase (a stage that lasted about 7 days) and limiting each account to 1 worker with a limit of 50MH/s (it’s using x11).
Also, wallet wasn't released until after PoW phase ended to prevent farmers from solo mining it.
 
Sure, you could work your way around it, but it would be a lot of trouble and as evident from the network hashrate, not to many farmers bothered with the coin.
Now, some of you might say it’s a scam because the dev of the coin could just relocate the hash somewhere else for his own benefits, but a quick look at the miner showed difficulty that matched the coins, block explorer of the coin worked perfectly fine and no other coin that uses x11 has had a jump in network hashrate proportionate to the size MineralsCoin.
Also, there was no ghost account mining the coin heavily as could have been seen by adding the total hashrate of the 6 pools.

During its PoW stage the developer worked hard on giving the miners an alternative to where to store their coins outside the pool, this alternative came in the form of exchanges. One exchange service was happy to add MineralsCoin and it’s C-Cex, however, most miners wanted (and still want), the bigger exchanges to accept MineralsCoins in order to see its value go up.
However, one of the biggest exchanges to date – Bittrex, has remained vague with its intention of adding MineralsCoin for reasons that made me make this thread:

Here are some quotes from pool owners/admins/whatever that for "unknown" reasons decided to group up in MineralsCoin thread:

Admin in DedicatedPools
Subtle threat?
Quoted for the irony that is about to come.

“Sorry, not supporting privatization of crypto coins” right into "You may or may not know there is a society of over 150 people, pool owners, exchanges, leaders in crypto that all VETO'd your coin - it is just not me”.
Probably the most disconcerting post of them all.

Purposefully blocking a coin that might create a wave of coins that will eat into his future pool profits.

Well, now it’s an obvious threat.

Admin in TradeMyBit:
Another pool showing its hate.

Admin in  Suprnova and various other pools (yet another pool owner…)
Quoted for irony

Trying to control, throttle and manipulate the entire thread with the rest of the pool owners, does make what he just wrote to qualify as ironic.

Admin in Suchpool.sw (another pool owner…)

There were lots of other pools in that thread (to many pages to go through) in addition to shill accounts trying to spread FUD and quotes from Bittrex IRC which I did not bother to post.
For the record, MineP was actually the only pool that participated in the thread and did not seem to bash the coin but rather took interest in it.

As a side note, how many coins out there have you seen that have been controlled by a single pool? Don’t know about you, but I have seen a lot. Pools that owned 80%, 90% and even 100% of the network of the coins and those coins were added without an issue to the big exchanges only to allow pool owners to dump the coin to make an extra… God knows how much.

As far as Bittrex goes (and the other big exchanges), to this date, they have added a lot of other shitcoins, that are semi closed source, 100% pre-mined, 70% premined (Country coins anyone?), etc.
The only common thing here I can see between those coins that were listed on big exchanges is that they could have been mined on the big pools.

So my question to this forum is this: is the market that heavily monopolized? That only a select few people decide which coin is gonna go where, where it’s going to be mined, where it’s gonna exchange? Which coin is going to be lunched?
Was crypto not made in order to decentralize us from the control of a few powerful entities? How bad is what Binaryclock talking about? How serious is that group?

And as a last note, MineralsCoin is now in its PoS stage and became open source. Nothing malicious was found in the code and so far everything seems legit with the coin.

P.S. I wanna remind you again that this thread isn't about MineralsCoin, but rather the concept it brought to the table and the very sharp reaction from a group of people that got scared of its ramification if it succeeds.

*I wanna apologize if my English was not spot on, it isn’t my native language after all.

Additional links to read:
http://www.cryptoarticles.com/crypto-news/minerals-x11-powpos-with-no-wallet-download-before-end-of-pow
http://www.cryptoarticles.com/crypto-news/minerals-altcoin-with-100-fair-launch-upsets-big-miners-and-pool-operators
http://altcoinspeculation.com/new-coins-new-wealth-any-future/
http://altcoinspeculation.com/are-new-altcoins-being-monopolised/