Topic: Medic Coin Scam? Hidden 30% Premine used for Masternodes? (Read 366 times)

If I had bought a $58558.70 masternode on 28 January 2018 and held it for a month then I would have made a $ 18844.42 LOSS on my investment on 28 February 2018 .  - see calculations on post 11 -  https://bitcointalksearch.org/topic/m.34036519   

I fail to see how this could have been a TOP earning number one Masternode coin for March

It appears over 80% of the coins in circulation are from a premine controlled by a small group of family and friends of Hansen Nguyen

Email address is linked to a real estate agent.



and a slots app on google play.

https://play.google.com/store/apps/details?id=com.sahifa.SlotsForFun
https://play.google.com/store/apps/details?id=com.sahifa.SlothGames&hl=en
https://play.google.com/store/apps/details?id=com.sahifa.FreeSlotsCleopatra&hl=en

Which links to a website that rates Medic Coin as the top masternode. https://cryptomat.com/





Mediccoin.com is registered to real estate agent Hansen Nguyen and the email address [email protected] on the domain registration is linked to the ownership of a slots android app by Cryptomat.com.
(Cryptomat.com has private domain registration)

Cryptomat.com voted Medic Coin as top masternode for the month.

So they voted themselves top masternode of the month. Sneaky.  
 

Um no clue what bible coin is sounds like another shitcoin.  Proof of this claim, you know proof like what i was asking from you about your coin.  Another crazy claim?

For the record anyone reading this can go to their ann and see the questions i asked and not get answered.  I ask a simple question, what are you going to do with your premine and proof of that.

Sounds like someone is a little butt sore i asked honest questions.

Nope - They came over because some of the Medic Coin (MEDIC) community claimed to be part of the team and made false accusations which can be viewed here :
https://bitcointalksearch.org/topic/cryptopia-is-a-good-exchange-3247456

That resulted in this thread: https://bitcointalksearch.org/topic/medic-coin-fraudulent-scam-attempt-by-people-claiming-to-be-part-of-their-team-3256150

You cleared up the false claims made by your community and answered honestly.

Once the false accusations were proven false people started looking at other aspects of Medic coin. Your community brought about the scrutiny due to lies that they told.

Now it requires transparency to regain trust. There are people who are on bitcointalk that bust scams. You have now met some of them.

Answer the questions honestly and transparently and if the answers quell their concerns they will go away.

Now we know why you came over to our thread and accused us.  You are working with Bible Pay Coin!  Another competitor coin accused of another coin.

https://bitcointalk.org/index.php?topic=2753447.740

Now they are burying my comments with generic answers to older posts, which is wierd cause its self moderated.  Check

How is this coin even have an exchange price?

Yep asked a couple questions over there and you are right op

Premined massive amount: check
Didnt announce until way after mining started (ninja launch): check
Premined held by devs who no one knows: check

Hits all the marks of a scam in the making.

Anyone else rember the days when even a 5% premine would get called out and squashed.  Its aparently socially acceptable to premine 30%.  Even better 80% of the block rewards goes to the masternodes which they obviously own all of them.  So they take the first 30% then let everyone else mine this shitcoin and they get all the block rewards.  Nice  

You can read about their attempted scam here: https://bitcointalksearch.org/topic/medic-coin-fraudulent-scam-attempt-by-people-claiming-to-be-part-of-their-team-3256150 and here: https://bitcointalksearch.org/topic/cryptopia-is-a-good-exchange-3247456

MEDIC Coin had a 30%+ Premine, but do not state this fact in their original post, github, or website.

Bitcointalk OP: https://bitcointalksearch.org/topic/ann-medic-coin-foldinghome-gpu-mining-masternode-coin-2753447
Github: https://github.com/MEDICCOIN/MedicCoin/blob/master/README.md
Website: https://mediccoin.com/

The first 1,500 blocks paid out 100,000 MEDIC each,
totaling 150 million MEDIC out of the total supply of 500 million MEDIC
150/500 = 30% premine

===

Proof:

Starting January 3rd:

Block 1 through 1,500 - 100,000 MEDIC reward per block
Block 1: https://explorer.mediccoin.com/block/974c66768a079b1ddc38613e6733cba24470c7b50c7ccae64240e42178aedf9d
Block 1,500: https://explorer.mediccoin.com/block/94f0a3c3c479ff8cc8f525a50dfa8d5490dc96c7293dc62a105e307c2f7863c2
(Just type in block number into explorer to check each block)

Block 1,501 - Standard 199 per block reward
https://explorer.mediccoin.com/block/47449755c00f525970673e4abcf07be53a82a4917ed60c2cfd393ebb73278dff

Medic Coin wasn't announced on Bitcointalk until January 14th,
Blocks 1,501 through 22,000+ were also mined between January 3rd and January 14th launch time.

===

How many of these coins were turned into Masternodes?
https://masternodes.online/currencies/MEDIC/
There are only 45 masternodes currently

They reward 80% block rewards to Masternodes

The 4th block mined was used to create a Masternode:
https://explorer.mediccoin.com/tx/0624c5eae9e0d5c591b86e03d70cbc73eac0b1f8b9ebf7fc03097d61c30d7b4b
https://explorer.mediccoin.com/address/MCbkypXP6rpoyiHjkHHCCcU39p8XDuMLpE
https://explorer.mediccoin.com/tx/da48bc0873d74e5a5f1d2e9798bc15a7c56fb6dccf3cdea6ba33946de095a240
https://explorer.mediccoin.com/address/MGqGDS4oLmKhrWXRb3gros2RoxPMrNexqW  (Can see the 159 coin (80% of 199) reward payments)

How many masternodes were created with their premine coins?

Can anyone do more analysis?

===

"Maybe some els also have concern about 30% premine and 10 days of mining before public launch on discord, they banned me.
They only answer they gave me was that they needed premine to test the network... Hmm wonder what testnet is for" -NorwegianNoob (January 14th)
https://bitcointalksearch.org/topic/ann-medic-coin-foldinghome-gpu-mining-masternode-coin-2753447

"it is already mined 25,000 block" -bgonuller (January 14th)
https://bitcointalksearch.org/topic/m.28142579

"We have products so we need 30% to pay for it.  
Our Medic EMR, Medic Phone Telemedicine app, and a team of developers, marketers, and philanthropists need money to work.
Other ICO keeps 100% of the money. We gave away 70% so that is fair.
This is not just a coin, but a masternode coin with products and people." -bitcoin9999 (January 14th)
https://bitcointalksearch.org/topic/m.28143386