Topic: Let us list NEW coin launches and review them ..?? did they scam??? (Read 607 times)

I don't consider that to be a reasonable answer. It is rather an answer an established miner with BTC in their wallet would give. I too would be happy to see an end to new releases since it devalues the older alts that the previous waves miners have. However the new alts that are fairly released are no more of a potential ponzi than BTC was and could be argued still is. The model is exactly the same. To be frank BTC could be argued to be far more of a ponzi in terms of it's origins. The wider the distribution at the start the less  something can actually be a ponzi.

Let's not offer opinion, let's look at the hard facts.

The entire premise of the mining is to enable distribution through work done. What you are suggesting is that is does not matter if developers  do a lot less work and a very large proportion of the rewards? Anyone who does not agree that devs should take a HUGE % of the coins for pressing copy and paste are also part of the scam for wanting to mine new coins at all and get a fair return for the work they do? sorry  that does seem like strange branch of logic you have employed right there.

If the coin is actually announced, and fairly launched with a wide and fair distribution based on work done, then actually their existence is just as justified as BTC if not more so if you want to base it on work done/ coins rewarded ratio.

To write off all alts as ponzi scams whilst pushing BTC has obvious motives.

The fact that there is essentially no need for new coins is not the point.

Your reasoning above is totally distorted i'm afraid, it actually makes no sense. The proffesional promoters ? these are standard miners that have exactly the same chance as any other miner (except the devs whom tip the balance of favour grossly in their favour) if though fair mining these people obtain coins and wish then to promote ...i see nothing wrong with that.

Not every single alt is a pump and dump, and actually i think so many are pump and dump precisely because devs are allowed to create them so they can pump and dump them. People then assume all fresh alts are all pump and dump..... and very occasionally they will live to regret this in a huge way when on of the 1000 coins they mined does actually get a foot hold and take off.

I'm sorry but unless you can explain why there should not be a code of fair release for coins then your comment is pretty much worthless.

Your opinion on whether ALL alts are pointless and developed with the sole reason to pump and dump is only your opinion you can't actually know every single dev is soley in it for this reason.. If ALL alts had to folllow a fair release protocol you would actually i suspect see a LOT less alts released since as devs would have far less reason to bother releasing them since concentrated enrichment for them will be a lot more difficult.

So again i ask you - Give me 1 good reason why a fair launch protocol should not be established? One reason why it should not exist?

Sure devs don't have to stick to it, but if they don't choose to then it is obvious as to why that is.

Alll you need to know

It is like any other ponzi scheme, the people who make a living promoting ponzi schemes want a constant stream of new ponzi schemes to be launched so they can profit from them.

So called "fair" and "unfair" is something only the scammers who make their living promoting ponzi schemes care about, because a ponzi scheme is still a ponzi scheme, that is, a scam, regardless of whether a particular ponzi scheme is "fair" to professional promoters of ponzi schemes or "unfair" to professional promoters of ponzi schemes.

Basically the professional promoters of ponzi schemes consider a ponzi scheme "unfair" if the authors of the scheme make most of the profit from it, and "fair" if a good chuck of the money scammed out of innocent bystanders, suckers, idiots, and in general everyone other than professional promoters of ponzi schemes ends up in the hands of the professional promoters rather than in the hands of the authors.

-MarkM-

as you say SCAM =  lies, deceit,

excessive stealth advantage to devs and friends and the rest left wondering where the coins went = scam

unfair = unfair

 if you are told unfair = fair  

that is a scam.

If devs want to announce their releases as deliberately unfair ...then that would not be a scam that will just be unfair.

Well, i agree, but i think people need to really realise how badly they are put at disadvantage without sometimes even knowing it. If we constantly highlight these scam tactics then eventually future scammers will perhaps decided to be slightly more fair. Even if we can encourage them to be 50% more fair that will be worth doing.

The thing is this, once people have some coins they will stick by and defend the coin until they have dumped, that is fair enough. However this thread i hope can encourage devs to at least consider doing a semi fair release or get their threat constantly hounded as a scam and put on this thread too.

All we can do is present the facts and try and point out obvious scamming tactics.

Devs just need to be honest, don't highlight how fair your coin is with only a 1% premine  then make the block scaling in such away that is actually 40% of the  minting for the next 10 years with no ledger no public address so we can see the dumping happening in real time. Also the wallet release they need to put them in the password rars and give them for downloading 30  mins before. When you see mining started only 1 or 2 seconds right after launch you know there is some serious instamining going on.  By not doing this they are essentially saying we want 3-5 mins destroying the chain on 0.00000004 diff on our own with no competition.  That is seriously a huge instamine right there too.

It's simple really

1/ take your premine for development and personal costs 1% even 2% is acceptable BUT only if there is a public ledger and also a block explorer and public address so we can at least see if a mass dump is taken by the dev. These coins should be used for the development of the coin and yes a little bit for your time but not 2% just for pressing copy and paste.

2. give the wallets in password rars, with virustotal output and full config in the zip file.

It's not difficult to do a fair release but for some reason there are few that do it.

It ALL depends on how you define scam. 'Scam' can mean a lot of different things, to a lot of different people.

A 'scam' to some people means launches that didn't go well, or perhaps a coin that got pumped and then dumped...

To most people a 'scam' means that people got blatantly ripped off and/or money stolen directly via fraud, lies, deceit, etc.

What really bugs me is that a lot of people seem to just throw around the word 'scam' when a coin seems 'unfair' to them.

Here you go:

https://bitcointalksearch.org/topic/ann-turko-trk-turk-coin-new-ecurrency-001-premine-388969
https://bitcointalksearch.org/topic/ann-trk-turko-official-thread-409779

You do realise people won't listen?
You do realise you are fucking with some scammers' money?
You do realise they can bury this thread easily?
You do realise they have some ways to mess with you?

As much as I like reading your posts, most people don't. Do you remember Saturn? Premine was dumped directly on an exchange, from the very 0 point. It was confirmed several hours later, when some random guy checked block explorer. One month later, nobody cares.

 

edit: I will however, try to contribute to your threads, as much as I can.
edit2: my bad, about 19 hrs before anyone else could mine:
https://bitcointalksearch.org/topic/trk-turko-yeni-kriptoakce-387581

I didn't know about it, there are so many scams that have happened here.

 Although for this thread only i will be writing a report of every launch i partake in and what happened on that launch so then people can decide if they want to mine/invest in something that started as a scam or just plain incompetent devs producing junk.

I know launches are just one way to scam but we need to try and get the coins launching without all the scam part. If devs are not scamming at launch they will need to put out something quality or not bother since the coin will be worthless to them without their instamine/premine loot.

you know, if you go two months back and dig you will find some interesting shit things about the dev of 'self moderated coin'.
failed coin (first announced on turkish part of this forum, 24hrs before anyone else knew about it; after they mined enough, they made an ann here. that particular coin was 'zero premine' coin), paying posters for some forums etc..

did you know that?

 

edit: that particular failed coin had an official closure: 'due to lack of interest we are shutting down'.

Of course somethings go wrong at launch, shit happens. However mostly these things are not just unfortunate circumstances, they are planned scams.

We are on to premines - so devs are lowering those from 4% to around 1-2%.  So their new tactics are to instamine the chain before others can reach it. I have seen the first blocks getting mined literally 1 second after the post has been made on the board.

For those that have never hashed on a virgin chain with no competition you would freak out at how fast blocks can be generated. It is totally possible to instamine 1% or larger of the minting on some of these coin in a couple of  minutes.

So whilst we download, then reupload to virus total or virus scan ourselves. Then we have to unpack it, install, deal with the config file and nodes, wait for sync and for all those instamined blocks to load ....whilst we are doing all of that even if we are very fast and can do it under 4 or 5 mins. The dev and his pals have instamined 100's of blocks.

So you can see we should demand windows QT in pass protected zips with virustotal output already provided.

Let's see how the coin devs do. THEY KNOW FULL WELL WE WANT THE WALLETS DOWNLOADED TO OUR LOCAL MACHINES BEFORE THE LAUNCH.... DO THEY DO IT???

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starting from 6th march 2014.... will update with every launch i'm at....

List of coins i've watched launch so far!!!



New York Coin = total disaster, been launched 2 x already, then the dev forgets the pass to the protected zip at launch so uploads another qt - was it an intentional instamine scam attempt? - who knows they seem so useless could be a genuine mistake.    3/10

Heisenberg Hex = lol so funny, perhaps not even them scamming. Released the password rars ahead of time.... didn't post the password on the OP only on twitter? posted their nodes ahead of time and either they got taken out or something happened so they could not mine themselves.... someone else grabbed their premine/instamine loot so they announced the launch was off. By that time people had already sold coins on cryptorush for btc. So now these coins were invalid. Then some how the guy who grabbed their loot decided to give it all back and the launch was staying good and so those coins mined already were legit. Sadly some people had now deleted their wallets with their legit coins in.... hehe what  a laugh = 3/10 entertainment factor.

ECCoin = no wallet available for download before launch - ignored requests for this and also all details of the coins parameters - premine , coins per block , basically no information at all.   3/10

I'll update the list as i test the launches out.... can't be there for all of them so others please leave reviews on launches also....enough pressure and all launches will be forced into being as fair as possible and scams to a minimum.

feel free say anything you want on this thread if it has facts/evidence to back it up. No point just screaming scam without telling us the reason you believe it is one.


I'm not mentioning anything about pools, there are too many variables, the pool owner could be at fault it could be a number of issues beyond the dev teams control. This thread is primarily for finding thrashing out the details that the dev team are responsible for. Their responsibility is to give everyone the chance to mine with the same opportunity at launch, they are there to provide only that. The rest is out side of their control.