Libertycoin and Dreamcoin are both scams

poornamelessme

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Quote from: r0ach on May 13, 2014, 12:07:55 PM

Quote from: poornamelessme on May 13, 2014, 12:04:15 PM

I generally dislike using the term scam unless it's completely obvious.

The problem is, they put the word in the title of their coin release. When you go and read through the coin description, it makes no mention of "oh, we might have zerocoin 2 years from now if it actually works". Their coin description implies that's it's already in there. All the random idiots on the forum just assumed the coin had it already and started to pump the coin not even knowing what Zerocoin is.

I may be wrong, or it was added in later, but I thought the Dreamcoin dev did mention it's a work in progress or something similar to that. Of course that does require people to read the entire ann thread, which I guess some people don't do here. It's also possible he just added that in later, after people got interested in the coin... or I am remembering wrong.

And yes, it's certainly on the shady side of things, although if the info is out there somewhere, I'm not sure I'd say it's an outright scam.

r0ach

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Quote from: poornamelessme on May 13, 2014, 12:04:15 PM

I generally dislike using the term scam unless it's completely obvious.

The problem is, they put the word in the title of their coin release. When you go and read through the coin description, it makes no mention of "oh, we might have zerocoin 2 years from now if it actually works". Their coin description implies that's it's already in there. All the random idiots on the forum just assumed the coin had it already and started to pump the coin not even knowing what Zerocoin is.

poornamelessme

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Quote from: flowerpots on May 13, 2014, 04:49:51 AM

I also tried to start a discussion about this in the thread, but all I got was "shut up troll" / "you just want to buy them cheap" and more comments like that.

Even if Dreamcoin is not a scam, I don't have the faith the Dev can really implement Zerocoin. I asked him some questions about that through PM, but it looks like he doesn't like to answer complicated questions.

I generally dislike using the term scam unless it's completely obvious. It is possible that both coins had plans to implement zerocoin and didn't realize that it wouldn't so easy. And since zerocoin has been discontinued by the original devs, I really wonder how dreamcoin could possibly even say they can pull it off.

At least liberty coin has backtracked and is removing the zerocoin references.

But as I mentioned before, it probably doesn't matter. Trolls and fud is so rampant here, that any negative comments or critical thinking sometimes gets misconstrued as trolling. It's assumed everyone has an ulterior motive, so if you are saying something negative, you must want the coin cheap for yourself.

It'll happen in a forum like this with little to no moderation. That's what occurs when trolls run rampant in the streets... everyone begins to look like a troll to you. And there is the simple fact that coinholders don't want you to lower the value of their coin, so they'll overlook neg comments/try to dismiss them -- human nature.

flowerpots

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I also tried to start a discussion about this in the thread, but all I got was "shut up troll" / "you just want to buy them cheap" and more comments like that.

Even if Dreamcoin is not a scam, I don't have the faith the Dev can really implement Zerocoin. I asked him some questions about that through PM, but it looks like he doesn't like to answer complicated questions.

cryptobuddy

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Quote from: poornamelessme on May 13, 2014, 03:13:39 AM

Useful thread, thanks for making it. Sad thing is, it probably won't matter. As I am writing this, Dreamcoin is going up in value even. People don't seem to care about facts, specs, or any of the stuff that should matter with a coin. They just care if it makes them money, right now, immediately ... if a coin is talked about, chatted about in the trollboxes, it moves up. It can be a piece of junk, with 'features' that don't exist, and can't exist... doesn't matter.

I expect many of the people buying dreamcoin/libertycoin don't even know what zerocoin even is. But it sounds fancy, whatever it is...

Right.... That is why so many scammers and scam coins appear! Angry

Eventually time will tell which coins are scam coins. However, instead of waiting, we should study more before making any investment. Grin

I really appreciate r0ach's effort.

cryptobuddy

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Quote from: Libertycoin on May 12, 2014, 03:52:22 PM

Important ANN:

We received news from the Zerocoin Team itself that they have abandoned the zerocoin project. Zerocoin is now a dead project. We had started implementing their library to Libertycoin hoping to implement a fully functional and stable version when they released more updates. Unfortunately, there is nothing we can do now. We will start removing the zerocoin library that we added to the code, and we will consult with our developer if there are other anonymizers we can deploy in the future. For the time being we will realease an update removing zerocoin from our code, and Libertycoin will remain as a great X11 100% proof of stake coin with 16.5 Million units.

About implementing the Zerocash
We will certainly study it, and if we consider it stable we will do it. They have already abandoned one project, so we don't want to take the risk of implementing something unstable that could be abandoned in the future. We paid a high price with zerocoin.

Now Libertycoin dev decided to remove the Zerocoin code from the Libertycoin. Then Libertycoin will be same as other X11 POW/POS coin, e.g. Badgercoin.

poornamelessme

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Quote from: r0ach on May 13, 2014, 03:06:26 AM

Quote from: Collegestudent on May 13, 2014, 02:59:10 AM

This is bitch FUD article fk off poster. Your a bitch that sold early.

When you advertise "Zerocoin" as the main feature of your coin in the coin title, but it's not possible to currently implement, may not ever be possible to implement, and allows double spending if it was implemented, how is that "FUD"?

Any of the 5000 coins on the release section could also put "Zerocoin" in their title and be at the same development and implementation point of this guy. So basically every coin out there is currently Zerocoin!

Libertycoin and Dreamcoin BOTH doing this at the exact same time is also hilarious.

Useful thread, thanks for making it. Sad thing is, it probably won't matter. As I am writing this, Dreamcoin is going up in value even. People don't seem to care about facts, specs, or any of the stuff that should matter with a coin. They just care if it makes them money, right now, immediately ... if a coin is talked about, chatted about in the trollboxes, it moves up. It can be a piece of junk, with 'features' that don't exist, and can't exist... doesn't matter.

I expect many of the people buying dreamcoin/libertycoin don't even know what zerocoin even is. But it sounds fancy, whatever it is...

r0ach

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Quote from: Collegestudent on May 13, 2014, 02:59:10 AM

This is bitch FUD article fk off poster. Your a bitch that sold early.

When you advertise "Zerocoin" as the main feature of your coin in the coin title, but it's not possible to currently implement, may not ever be possible to implement, and allows double spending if it was implemented, how is that "FUD"?

Any of the 5000 coins on the release section could also put "Zerocoin" in their title and be at the same development and implementation point of this guy. So basically every coin out there is currently Zerocoin!

Libertycoin and Dreamcoin BOTH doing this at the exact same time is also hilarious.

Collegestudent

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The blockchain is the future

This is bitch FUD article fk off poster. Your a bitch that sold early.

noelmal

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Quote from: r0ach on May 13, 2014, 02:44:19 AM

Quote from: Vann on May 13, 2014, 02:35:49 AM

blah blah blah

Ok dude, we get it, you claim every coin is a scam except the one you hold called "Silkcoin" that has a 2% premine, we understand. Anyone can look at your post history and verify it.

Every coins a scam but aren't we all drinking the same kool-aid Shocked

Acidyo

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Will Bitcoin Rise Again to $60,000?

Good thing I dumped my Dreamcoins I mined on launch for a 10k satoshi price.

r0ach

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Quote from: Vann on May 13, 2014, 02:35:49 AM

blah blah blah

Ok dude, we get it, you claim every coin is a scam except the one you hold called "Silkcoin" that has a 2% premine, we understand. Anyone can look at your post history and verify it.

Vann

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Quote from: r0ach on May 13, 2014, 02:02:45 AM

Quote from: loljosh on May 13, 2014, 01:54:19 AM

Zerocoin is a scam. They released their statement first that they are releasing it within 1 week and now saying that they have abandoned their project.

It's a strange project to begin with, implementing a "you must trust me contract" into a 0 trust system.

Quote from: Vann on May 13, 2014, 01:44:23 AM

blah blah blah

Ok dude, we get it, you claim every coin is a scam except the one you hold called "Silkcoin" that has a 2% premine, we understand. Anyone can look at your post history and verify it.

My posts, Silkcoin or any of the irrelevant BS that you keep trying to focus on aren't what caused the 100% Doge ripoff and scam you keep trying to pump to insta-mine the largest 50 blocks rewards and then some over an hour before the coin was released, the 'dev' is that one that did that and that is what the facts show.

r0ach

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Quote from: loljosh on May 13, 2014, 01:54:19 AM

Zerocoin is a scam. They released their statement first that they are releasing it within 1 week and now saying that they have abandoned their project.

It's a strange project to begin with, implementing a "you must trust me contract" into a 0 trust system.

Quote from: Vann on May 13, 2014, 01:44:23 AM

blah blah blah

Ok dude, we get it, you claim every coin is a scam except the one you hold called "Silkcoin" that has a 2% premine, we understand. Anyone can look at your post history and verify it.

loljosh

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Zerocoin is a scam. They released their statement first that they are releasing it within 1 week and now saying that they have abandoned their project.

Vann

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Quote from: r0ach on May 13, 2014, 01:01:08 AM

Quote from: Vann on May 13, 2014, 12:59:34 AM

Hahaha

Ok dude, we get it, you claim every coin is a scam except the one you hold called "Silkcoin" that has a 2% premine, we understand. Anyone can look at your post history and verify it.

If a coin has 0 premine, it's a scam. If a coin has 0.5% premine, it's a scam, only Silkcoin with 2% premine is a valid coin.

Then everyone is also supposed to think it's perfectly normal that you have 20 hours spare time per day to spam the shibecoin thread promoting silkcoin and saying Shibecoin is a scam for no personal gain of your own.

Yes, everyone really believes you.

Please keep spamming and bumping my thread though, now that everyone clearly can tell what your agenda is, to promote "Silkcoin".

Yes, Shibecoin is a 100% insta-mine scam and I'm PROUD to let everyone know that. The FACTS show the mining began an over an hour before the coin was announced and wouldn't you know it, conveniently the largest block rewards were already mined. HMMM..... Smells like a shitcoin! Trying to cover up the facts about the the shitcoin you keep pumping with you're delusional and self-serving fantasies about my posts and my supposed Silkcoin agenda in a vain attempt to prove otherwise won't change anything! LOL Grin

r0ach

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Quote from: Vann on May 13, 2014, 12:59:34 AM

Hahaha

Ok dude, we get it, you claim every coin is a scam except the one you hold called "Silkcoin" that has a 2% premine, we understand. Anyone can look at your post history and verify it.

If a coin has 0 premine, it's a scam. If a coin has 0.5% premine, it's a scam, only Silkcoin with 2% premine is a valid coin.

Then everyone is also supposed to think it's perfectly normal that you have 20 hours spare time per day to spam the shibecoin thread promoting silkcoin and saying Shibecoin is a scam for no personal gain of your own.

Yes, everyone really believes you.

Please keep spamming and bumping my thread though, now that everyone clearly can tell what your agenda is, to promote "Silkcoin".

Vann

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Quote from: r0ach on May 13, 2014, 12:35:20 AM

Quote from: Vann on May 13, 2014, 12:25:49 AM

Dude face it, your shitcoin is a scam and the facts clearly show that.

Nice try scammer, but everyone can look at your post history and easily figure things out. You promote "Silkcoin", a coin with 2% premine, while calling every other coin that exists a scam coin.

The amount of effort you have put into spamming the Shibecoin thread, at least 200 posts, clearly shows that you are worried the coin you invested in, "Silkcoin", will be overlooked due to Shibecoin.

I've never seen such childish behavior in my entire life. I pray that you aren't over 18 years old.

Hahaha, trying to take the focus off of the fact the flaming bag of shit that you call Shibecoin is a 100% Doge ripoff and a 100% insta-mine scam with ad hominem attacks on my post history isn't going to change anything. The facts are there for anyone to see.

r0ach

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And another non-biased 3rd party review of the Shibecoin subject:

Quote from: goldmann on May 06, 2014, 07:21:39 AM

ANALYSIS-REPORT: SHIBECOIN
by bitsta, ra1nb0wdash & goldmann

dear shibe-community,

you maybe already know me or bitsta from the asiacoin-thread. it was us who detected
the asiacoin-scam. we got a lot of messages from SHIBE-users regarding an analysis of SHIBE.
well as there seems to be a huge interest in this coin, we have made a detailed analysis-report which
is going to be published on our new coming coinanalysis-website. This is the short report:

we have finished the analysis of shibecoin which consisted of:

hex debug (analysis of memory hops)
analysis of data/networkcommunication
analysis of sourcecodes
analysis of blockchain
setting up an 3rd party blockexplorer: http://blockexplorer.uni.me

1. hex debug:
analysing the memory-hops/hex debug of shibecoin-qt on windows & OSX 10.9.2
showed ordinary processcommunication with memory.

2. analysis of data/networkcommunication:
the seednodes are beeing requested form the seednode which is
hardcoded into the wallet. there is no other "hidden" communication
except the std. walletcommunication.

Code:

// DNS seeds
// Each pair gives a source name and a seed name.
// The first name is used as information source for addrman.
// The second name should resolve to a list of seed addresses.
static const char *strDNSSeed[][2] = {
    {"levitation", "levitation.theshibecoin.com"},
    {"magnetic", "magnetic.theshibecoin.com"},
    {"testnetfield", "testnetfield.theshibecoin.com"},
};

3. analysis of sourcecodes:
sourcecodes are clean and we can confirm that there are no hidden codes
or "edited" functions:
getinfo --> moneysupply is beeing requested by function ValueFromAmount();

Code:

obj.push_back(Pair("moneysupply",   ValueFromAmount(pindexBest->nMoneySupply)));

ValueFromAmount() is clean:

Code:

Value ValueFromAmount(int64 amount)
{
    return (double)amount / (double)COIN;
}

we also checked all other rpcfunctions and can confirm that they are all clean.

4. analysis of blockchain:
the analysis of the blockchain showed that all mined blocks contained the amounts
which are declared in the OP. No hidden "superblocks".

5. we set up an blockexplorer so you can make yourself sure everything is legit:
http://blockexplorer.uni.me

summary: shibecoin is a 100% legit coin. there was a small instamine, but thats totally normal nowadays because some pools with huge miningpower start at low diff and therefore get a lot of blocks. there is a fair distribution of the coins over the network. we will release a TOP 100 list in the next few days.

tips appreciated: SV3eTFiVnuN478ESbjnA7WDQejcag3LFFa

r0ach

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Quote from: Vann on May 13, 2014, 12:25:49 AM

Dude face it, your shitcoin is a scam and the facts clearly show that.

Nice try scammer, but everyone can look at your post history and easily figure things out. You promote "Silkcoin", a coin with 2% premine, while calling every other coin that exists a scam coin.

The amount of effort you have put into spamming the Shibecoin thread, at least 200 posts, clearly shows that you are worried the coin you invested in, "Silkcoin", will be overlooked due to Shibecoin. I've never seen such childish behavior in my entire life.

Aren't you going to be embarrassed when people click your post history and see this? Do you seriously have no life at all? Instead of making one post saying a coin is a scam, you spent an entire working week doing nothing but spamming it the entire day every day. A normal person does not do that unless they have something to gain by doing it.

Topic: Libertycoin and Dreamcoin are both scams (Read 2433 times)