Topic: Poll - Which social media platform will launch a MVP sooner Synereo or STEEM ? - page 3. (Read 2376 times)

Reference Synereo did anyone ever find out why they had that huge one day run up in price?

sounds like scam justification to me...

They said no premine no instamine then instamined it all themselves. When someone else got some they reset the blockchain to start again.

sounds like xcoin release but they had to do it that way.

soon it seems devs will have to take 80% of the minting it's the only fair and legal way to get some funds


I'd take transparent ICO over this.

Let's go back to POW fair release protocols from wave 2 of alt releases.

So it's not ok to premine (mine before the ann thread is created)

But it is okay to instamine it whilst stopping majority of others mining it. Whilst claiming no instamine and no premine.

This blog post was obviously written about STEEM:

https://bytemaster.github.io/article/2016/03/27/How-to-Launch-a-Crypto-Currency-Legally-while-Raising-Funds/

STEEM IS A SCAM

Here is what i first read by eclipse crypto dev

"The reasoning behind not having windows binaries is that the devs continue to use their insider knowledge to fuck over the community.

The list of how they do this is growing longer.

Most recently you will notice that they offered someone a position as a witness. How are they able to offer this position? Because they have now secured all control over this coin by using this concept of vests. This coin is COMPLETELY CENTRALIZED NOW.

Here's how they did it:

First, they did a typical instamine/flashmine/freemine scam (yes scam) where they released

(1) no compiled wallets
(2) no instructions to build
(3) incomplete and inaccurate instructions to mine

This wasn't bad enough. After the first 12 or so hours of mining, all their miners crashed, exposing that they were mining to 100 different witnesses to hide the fact that they (he) was one entity. The devs wouldn't have been caught except that their mining instructions were wrong, and no one else was mining because, even if they couldn't get the client to build, they entered mining commands that caused them to get no blocks. The devs will claim this isn't on purpose, but check the original thread. You'll see that no one mined a block when the dev's miners were down.

Then, as I have stated many times, when their miners crashed again, I mined a significant amount of steem that night in their absence. To prevent my vesting that and driving the price of vests up on them, they relaunched to ensure COMPLETE CONTROL AND CENTRALIZATION.

After the relaunch, no one would challenge them on mining because if they did, the devs would just relaunch this scamcoin again. So, no one who pays attention (and the people who have the means to procure whatever hashes they want are also the people who are paying attention), would challenge them on the hashes. As they hoped, no one did and they completely dominated the hashes for 1 week.

Now after 1 week of hashing, they dump all their coins into vests, where the price of a vest goes up with the amount vested. This is not your typical stakeholding where one unit of currency is worth one stake. This is on purpose so that they can COMPLETELY CONTROL THIS COIN IN A CENTRALIZED WAY after just 1 week.

Vests don't cost 1 STEEM anymore like they did when the devs bought them. They now cost 5 STEEM. That means that you will need to dominate all the hashes for 5 weeks just to match the control the devs have after 1 week. They have driven your costs up by 5, not using the market, as should be done, but by using this freemine/threat-of-relaunch scam.

So, why don't we all just mine for 5 weeks and decentralize control ourselves? There are two main reasons.

First, anyone who is paying attention (this includes all smart people with BTC to throw at things like this) won't dump money on a scam like this. So you are going to get a bunch of gullible small timers who don't have the foresight to convert to vests anyway, even if vests were legit. The small timers just want to get a profit asap.

Second, there's only 3 more weeks left of true mining before delegated mining kicks in. Delegated mining is when the devs pick 19 "witnesses" to mine. Maybe they might pick one or two legit miners, but the most likely scenario, given the scam they have perpetrated so far, is that they will pick at least 17 instances of themselves to mine.

In other words, it's impossible now to decentralize this coin because the devs have rigged it since the beginning. Not only that, they will be getting all the coins, unchallenged, for as small of a price as they want to pay.

By the way, I'm keeping track here. The devs are going to have to stay low and so will this coin. If it ever gets big, then these devs will be fucked because they will not be able to deny they control the entire currency."


Then I read this a page later from eclipse crypto dev

"And I've been mining while I've been fudding.

Hate me? Consider it "chess". Wink

TOTAL                  1357.000 STEEM    3676.733594 VESTS            0.000 SBD "


Eclipse crypto dev latest one

"I think you have a great idea here and am interested in being a witness, so I'm going to lay down my creds.

First of all, the Eclipse Crypto account is a join developer account. I originally used it to post in this thread because I was logged in as this account and forgot to log out. I thought it would be a one-off post but then it kind of exploded. The other Eclipse developers have been *very* understanding, and my apparent lunacy here is in no way a reflection of the Eclipse team.

From now on, I'll post in this thread as "Bubba-Gump".



Was he paid off in steems or just was fudding and scamming all along? either way would you want a dev like this in charge of your eclipse crypto currency. I would be selling that at once if I had any I would be.

Looking to get some social media crypto.

Which platform is closer to launching a MVP:

Synereo has some nice GUI work going on, but is dragging its feet on choosing a blockchain to mate with.
STEEM just launched its POW blockchain, but no GUI yet.