Libertycoin and Dreamcoin are both scams - page 2.

Vann

hero member

Activity: 1036

Merit: 606

Quote from: r0ach on May 13, 2014, 12:07:02 AM

Quote from: Vann on May 12, 2014, 11:49:37 PM

Vann

Yep, there's the guy right there with his false, propaganda campaign against Shibecoin, he has spammed that post 500 times claiming that a pool address is the developers address. Nice try, but most people aren't stupid enough to believe a pool address is the dev. Notice how this Dreamcoin didn't even launch with a pool at all, and you have no problem with that right? You're clearly a scammer yourself.

This same scammer "Vann", also promotes a coin with 2% premine called "Silkcoin" while claiming every other coin is a scam as you can see here and from his post history: https://bitcointalksearch.org/topic/m.6674673

I already did an investigation on Shibecoin and posted my results here, it's obviously not a scam:

Quote from: ?? on ??

If you look at these sites, almost every article is bashing some coin, then the coins they DO PROMOTE, happen to have the exact same attributes, or worse, as the coins they claim are scams.

Take Cryptocurrency Times and it's Darkcoin article:

http://www.usacryptocoins.com/thecryptocurrencytimes/uncategorized/dark-coin-a-valuable-new-cryptocurrency-with-completely-anonymous-transactions/

After spamming a million articles calling everything a scam, they magically give Darkcoin a pass and don't mention ANY of the suspcious or damning facts about it's launch.

Most of the Darkcoin issues are talked about in this guy's post titled "SCAM Darkcoin instamine 2 millions DRKs (50% of darkcoin in circulation)":
https://bitcointalksearch.org/topic/scam-darkcoin-instamine-2-millions-drks-50-of-darkcoin-in-circulation-560138

Darkcoin is one of the shadiest coins out there for launch and distribution. Seriously, how does a coin where blocks are erroneously set to 500 instead of 50 even survive at all? This is something that the GPUcoin dev did, and he failed like 5 launches, then just aborted the blockchain because he knew there was no point.

It's complete batshit crazy that sites like that exist and try to act as information gatekeepers telling you a coin with a 0.5% premine is a scam, then giving Darkcoin a pass with like a 50% premine.

Dude face it, your shitcoin is a scam and the facts clearly show that. To claim otherwise by using IRC chat logs between the same bag holders pumping this this scam and somehow reaching the conclusion that i'm a scammer for showing exactly what happened before the coin was even announced only shows how desperate you are to keep the facts about this scam from being known. The 'dev' has already admitted to mining the coins before it was released and his own IRC chat logs show the delusional idiot he is.

https://bitcointalksearch.org/topic/shibecoin-dafaq-604162

https://bitcointalksearch.org/topic/shibecoin-developer-loq-locked-shibecoin-thread-605583

https://bitcointalksearch.org/topic/m.6609494

r0ach

legendary

Activity: 1260

Merit: 1000

Quote from: Vann on May 12, 2014, 11:49:37 PM

Vann

Yep, there's the guy right there with his fake, propaganda campaign against Shibecoin, he has spammed that post 500 times claiming that a pool address is the developers address. Nice try, but most people aren't stupid enough to believe a pool address is the dev. Notice how this Dreamcoin didn't even launch with a pool at all, and you have no problem with that right? You're clearly a scammer yourself.

This same scammer "Vann", also promotes a coin with 2% premine called "Silkcoin" while claiming every other coin is a scam as you can see from his post history: https://bitcointalksearch.org/topic/m.6674673

Even if his false claim that a pool address was the dev's wallet was true, it would mean that the dev got a 2% premine, the same amount of premine as this "Silkcoin" that he promotes. As you can see, he's a complete scammer.

I already did an investigation on Shibecoin and posted my results here, it's obviously not a scam:

Quote from: ?? on ??

If you look at these sites, almost every article is bashing some coin, then the coins they DO PROMOTE, happen to have the exact same attributes, or worse, as the coins they claim are scams.

Take Cryptocurrency Times and it's Darkcoin article:

http://www.usacryptocoins.com/thecryptocurrencytimes/uncategorized/dark-coin-a-valuable-new-cryptocurrency-with-completely-anonymous-transactions/

After spamming a million articles calling everything a scam, they magically give Darkcoin a pass and don't mention ANY of the suspcious or damning facts about it's launch.

Most of the Darkcoin issues are talked about in this guy's post titled "SCAM Darkcoin instamine 2 millions DRKs (50% of darkcoin in circulation)":
https://bitcointalksearch.org/topic/scam-darkcoin-instamine-2-millions-drks-50-of-darkcoin-in-circulation-560138

Darkcoin is one of the shadiest coins out there for launch and distribution. Seriously, how does a coin where blocks are erroneously set to 500 instead of 50 even survive at all? This is something that the GPUcoin dev did, and he failed like 5 launches, then just aborted the blockchain because he knew there was no point.

It's complete batshit crazy that sites like that exist and try to act as information gatekeepers telling you a coin with a 0.5% premine is a scam, then giving Darkcoin a pass with like a 50% premine.

Vann

hero member

Activity: 1036

Merit: 606

Quote from: r0ach on May 12, 2014, 10:18:03 PM

There was a big, false propaganda campaign against Shibecoin because the first 50 blocks were mined by a pool address that went to many different people. Some fat, 50 year old idiot made an article about it on google search claiming a pool address is the dev's address and claiming the Shibecoin dev got it all, when he didn't.

No mention those 50 blocks were mined over AN HOUR before the coin was launched here in a ninja announcement. The block explorer shows a total of 56 blocks, including the first 50 with the largest rewards were mined before the coin was even announced. That's even worse than an insta-mine scam, given the only ones that could have mined those blocks were the 'dev' and those he let know over an hour before anyone else.

Any one that's ever been at a coin launch knows it doesn't take an hour to mine 50 blocks when the diff is 0.00002 and the BS that a pool got those coins simply doesn't add up, especially when the largest block rewards are 100% skewed towards the beginning when the diff is the lowest and insta-ming before and after the announcement was made is the easiest thing to do with the way the coin was launched in a ninja announcement. In addition to having zero innovation and being a 100% Doge ripoff, for the 'dev' to try and capitalize off the work the Doge community accomplished in raising $55,000 to sponsor a NASCAR team, by releasing his shitcoin on the same day Doge introduced their NASCAR team, shows how classless they are in their attempt to make a quick profit.

Shibecoin Is The New Doge Ripoff And Latest Altcoin Ninja Launch

http://altcoinherald.com/shibecoin-new-doge-ripoff-latest-altcoin-ninja-launch/

Shibe Coin, a complete ripoff of Doge Coin, likely a scam - an article by The Cryptocurrency Times

http://www.usacryptocoins.com/thecryptocurrencytimes/uncategorized/shibe-coin-a-complete-ripoff-of-doge-coin-likely-a-scam/

The 50 blocks that were mined before the announcement was made contained the highest rewards and amounted to 6,250,000 coins out of the total of 252,500,000 mined during the PoW stage. That equals 2.5% of the PoW coin total + an additional 1,500,000 coins from the announced 0.5% premine. 8,750,000 coins were mined BEFORE the announcement was even made..

The coin was announced at 3:03 PM EDT The block explorer shows there were 56 blocks mined BEFORE the coin was announced. To say the coin was not insta-mined both BEFORE and after the announcement was made is simply not the truth. People need to know this before investing or believing the hype.

http://192.227.251.74:8888/chain/ShibeCoin?hi=59&count=60

Code:

57	2014-05-04 19:04:48	1	100000	1.009	6950000	0.018912	2.61897	0%
56	2014-05-04 19:01:50	1	100000	0.84	6850000	0.0171296	2.61691	0%
55	2014-05-04 19:01:00	1	100000	0.63	6750000	0.0168056	2.61633	0%
54	2014-05-04 19:00:35	1	100000	0.473	6650000	0.0167708	2.61604	0%
53	2014-05-04 19:00:26	1	100000	0.701	6550000	0.0169213	2.61594	0%
52	2014-05-04 18:58:57	1	100000	0.526	6450000	0.0161574	2.61491	0%
51	2014-05-04 18:58:46	1	100000	0.526	6350000	0.0162847	2.61478	0%
50	2014-05-04 18:57:46	1	125000	0.789	6250000	0.0158449	2.61409	0%
49	2014-05-04 18:55:51	1	125000	0.763	6125000	0.014838	2.61275	0%
48	2014-05-04 18:54:53	1	125000	0.572	6000000	0.0144792	2.61208	0%
47	2014-05-04 18:54:15	1	125000	0.429	5875000	0.0143519	2.61164	0%
46	2014-05-04 18:53:31	1	125000	0.643	5750000	0.0141551	2.61113	0%
45	2014-05-04 18:48:42	1	125000	0.482	5625000	0.0111227	2.60779	0%
44	2014-05-04 18:48:39	1	125000	0.362	5500000	0.0113426	2.60775	0%
43	2014-05-04 18:47:58	1	125000	0.271	5375000	0.0111343	2.60728	0%
42	2014-05-04 18:47:27	1	125000	0.203	5250000	0.0110301	2.60692	0%
41	2014-05-04 18:47:22	1	125000	0.152	5125000	0.01125	2.60686	0%
40	2014-05-04 18:47:01	1	125000	0.147	5000000	0.0112847	2.60662	0%
39	2014-05-04 18:46:03	1	125000	0.125	4875000	0.0109028	2.60595	0%
38	2014-05-04 18:45:12	1	125000	0.094	4750000	0.0106019	2.60536	0%
37	2014-05-04 18:45:01	1	125000	0.07	4625000	0.0107639	2.60523	0%
36	2014-05-04 18:44:57	1	125000	0.052	4500000	0.0110069	2.60519	0%
35	2014-05-04 18:44:50	1	125000	0.039	4375000	0.01125	2.6051	0%
34	2014-05-04 18:44:41	1	125000	0.029	4250000	0.0114699	2.605	0%
33	2014-05-04 18:44:38	1	125000	0.022	4125000	0.0117824	2.60497	0%
32	2014-05-04 18:44:31	1	125000	0.016	4000000	0.0120718	2.60488	0%
31	2014-05-04 18:44:28	1	125000	0.012	3875000	0.0124306	2.60485	0%
30	2014-05-04 18:44:21	1	125000	0.009	3750000	0.0127662	2.60477	0%
29	2014-05-04 18:44:16	1	125000	0.007	3625000	0.0131481	2.60471	0%
28	2014-05-04 18:44:03	1	125000	0.005	3500000	0.0134606	2.60456	0%
27	2014-05-04 18:44:02	1	125000	0.003	3375000	0.0139468	2.60455	0%
26	2014-05-04 18:43:59	1	125000	0.002	3250000	0.014456	2.60451	0%
25	2014-05-04 18:43:57	1	125000	0.002	3125000	0.0150116	2.60449	0%
24	2014-05-04 18:43:55	1	125000	0.001	3000000	0.0156134	2.60447	0%
23	2014-05-04 18:43:54	1	125000	0.001	2875000	0.0162731	2.60446	0%
22	2014-05-04 18:43:52	1	125000	0.0	2750000	0.0169907	2.60443	0%
21	2014-05-04 18:43:50	1	125000	0.0	2625000	0.0177778	2.60441	0%
20	2014-05-04 18:43:48	1	125000	0.0	2500000	0.0186458	2.60439	0%
19	2014-05-04 18:43:47	1	125000	0.0	2375000	0.0196181	2.60438	0%
18	2014-05-04 18:43:46	1	125000	0.0	2250000	0.0206944	2.60436	0%
17	2014-05-04 18:43:45	1	125000	0.0	2125000	0.0218981	2.60435	0%
16	2014-05-04 18:43:44	1	125000	0.0	2000000	0.0232639	2.60434	0%
15	2014-05-04 18:43:41	1	125000	0.0	1875000	0.0247801	2.60431	0%
14	2014-05-04 18:43:40	1	125000	0.0	1750000	0.0265394	2.60429	0%
13	2014-05-04 18:43:28	1	125000	0.0	1625000	0.0284375	2.60416	0%
12	2014-05-04 18:03:10	1	125000	0.0	1500000	0.00282407	2.57617	0%
11	2014-05-04 18:02:01	1	125000	0.0	1375000	0.00228009	2.57537	0%
10	2014-05-04 18:01:16	1	125000	0.0	1250000	0.00199074	2.57485	0%
9	2014-05-04 18:00:35	1	125000	0.0	1125000	0.00173611	2.57437	0%
8	2014-05-04 18:00:09	1	125000	0.0	1000000	0.00165509	2.57407	0%
7	2014-05-04 17:59:15	1	125000	0.0	875000	0.00126157	2.57345	0%
6	2014-05-04 17:58:14	1	125000	0.0	750000	0.000763889	2.57274	0%
5	2014-05-04 17:57:50	1	125000	0.0	625000	0.000648148	2.57247	0%
4	2014-05-04 17:57:22	1	125000	0.0	500000	0.000486111	2.57214	0%
3	2014-05-04 17:56:36	1	125000	0.0	375000	0.000115741	2.57161	0%
2	2014-05-04 17:56:24	1	125000	0.0	250000	3.47222e-05	2.57147	0%
1	2014-05-04 17:56:18	1	125000	0.0	125000	0	2.5714	0%

r0ach

legendary

Activity: 1260

Merit: 1000

I really thought Poloniex would know about Zerocoin vulnerabilities before even considering listing coins like this. It would actually be far more risky for Poloniex if the claims of having Zerocoin in these coins was true instead of a fraud.

pizzaboy69696969

full member

Activity: 159

Merit: 100

Good call, thanks for the info!

r0ach

legendary

Activity: 1260

Merit: 1000

The real Zerocoin developer is not even finished with the code yet to create his coin release called "Zerocash". Both of these new coins, Dreamcoin and Libertycoin, came out of nowhere at the same time, both having the words "Zerocoin" in their announcement titles. I went investigating, wanting to invest in one of them if there was any hope of decent returns. I went to Dreamcoin first and discovered the coin dev has already made something like 4-5 coins in the past year, Timecoin, Hashcoin, Matrixcoin, etc. He's basically a serial coin cloner and his last coin was just released in April.

Some people managed to contact the Zerocoin anonymity function creator himself on twitter (lots of different posts and info there): https://twitter.com/secparam/status/465971947386720256

Both coins are advertised "Zerocoin" while having absolutely no Zerocoin functionality, or even close to it. At best this is false advertising, at worst it's a scam.

Then there were claims of "working with the Zerocoin devs" to implement it in Dreamcoin, here is the Zerocoin developer's official response:

Code inspection of Dreamcoin:

http://pastebin.com/rknTJpWd

Let's say you want to invest in Dreamcoin anyway, fully knowing there is no Zerocoin functionality, and that the serial coin cloner dev is either trying to scam you or falsely advertise.

Quote from: Burninj on May 07, 2014, 06:34:45 PM

115 full block instamined, love it!

The coin was launched with NO POOL so the dev could just sit there mining alone. I looked up his past coins and those seem to have similar circumstances.

There was a big, false propaganda campaign against Shibecoin because the first 50 blocks were mined by a pool address that went to many different people. Some fat, 50 year old idiot made an article about it on google search claiming a pool address is the dev's address and claiming the Shibecoin dev got it all, when he didn't. This Dreamcoin has the first 115 full blocks probably going straight to the dev's pocket, not a pool, since the coin launched with no pool, and people give it a pass while calling Shibecoin a scam? Are you kidding me?

Next you have the problem that Zerocoin has EXTREMELY complex security vulnerabilities where you're basically required to have absolute trust in the coin creator or he can easily pull Asiacoin type frauds on you. You do not want ANY kind of Zerocoin functionality except possibly from the Zerocash dev himself, and even then, it's still sketchy. The only Zerocoin implementation that will ever be trusted is Zerocash, created by the Zerocoin dev, and even then, most security experts will still probably not trust it due to it's double spend security hazards.

Quote

Security Warning: It is critical that the modulus N be generated properly and that the factors p, q and all related information be destroyed. These factors are not needed in the protocol. Moreover, any party who learns these factors will be able to double-spend zerocoins. Note however that knowledge of p, q does not jeopardize the anonymity of Zerocoin.

Topic: Libertycoin and Dreamcoin are both scams - page 2. (Read 2433 times)