SC Releases his 'white paper', hilarity ensues - page 9.

CoinHunter

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Quote from: xzion on October 11, 2011, 11:26:37 PM

Quote from: CoinHunter on October 11, 2011, 11:24:00 PM

...who have families, assets and things to lose...

you're going to do WHAT to their families and assets for misbehaving??

I believe if others scam or harm others in some way then justice should be served. It's quite simple. What else should happen to fraudsters and scammers?

I'm quite big on punishing those that hurt others, if someone finds it HARD not to hurt others I don't think they should be alive. Just my own life philosophy.

Red

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Activity: 210

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Quote from: CoinHunter on October 11, 2011, 11:24:00 PM

I have control of one of the accounts currently, I'm not sure if I will end up with any, just for now it's easier this way. I won't say how many are in the wild yet but we are increasing the presence on the network of them.

The people I'm giving them to are ardent SC supporters, who have families, assets and things to lose if they do anything inappropriate with it, combined with having excellent knowledge about system running.

Good to know. But the only way to build real trust is through non-anonymity.
Anonymous trust is a bit of an oxymoron.

ElectricMucus

legendary

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Marketing manager - GO MP

Quote from: CoinHunter on October 11, 2011, 11:24:00 PM

Quote from: Red on October 11, 2011, 11:20:32 PM

Question, for CoinHunter. Who runs the trusted peers? Are they all yours?

I have control of one of the accounts currently, I'm not sure if I will end up with any, just for now it's easier this way. I won't say how many are in the wild yet but we are increasing the presence on the network of them.

The people I'm giving them to are ardent SC supporters, who have families, assets and things to lose if they do anything inappropriate with it, combined with having excellent knowledge about system running.

fuck you

Do people realize how diabolical this is Angry

xzion

member

Activity: 96

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Quote from: CoinHunter on October 11, 2011, 11:24:00 PM

...who have families, assets and things to lose...

you're going to do WHAT to their families and assets for misbehaving??

CoinHunter

sr. member

Activity: 252

Merit: 251

Quote from: Red on October 11, 2011, 11:20:32 PM

Question, for CoinHunter. Who runs the trusted peers? Are they all yours?

I have control of one of the accounts currently, I'm not sure if I will end up with any, just for now it's easier this way. I won't say how many are in the wild yet but we are increasing the presence on the network of them.

The people I'm giving them to are ardent SC supporters, who have families, assets and things to lose if they do anything inappropriate with it, combined with having excellent knowledge about system running.

Raoul Duke

legendary

Activity: 1358

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Quote from: ?? on ??

Quote from: Raoul Duke on October 11, 2011, 11:14:12 PM

How can he be richer if all you guys say his coins are worthless?
what you're saying doesn't make any sense...

Try to keep up.

The "trusted nodes" have 12 million. CH says don't worry they can't be "spent". which is technically true.

However each day coins transfer from the trusted nodes to his personal wallet. They are no different than any other coin on the network and once in his personal wallet can be spent by CH for anytime, anywhere, for anything he chooses.

What does have to do with my remark?
Are you really that blind with anger?
Why?
Every one of these threads is better than the thread before...

Let me ask you something: Are SolidCoins worth anything to you?

Bobnova

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1000+ hours eh?
You do realize how long that is, right? That's 41 days of 24 hours a day coding.

Some people put a lot of hours into scams.

johnj

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Quote from: CoinHunter on October 11, 2011, 11:15:44 PM

Quote from: ?? on ??

Quote from: CoinHunter on October 11, 2011, 10:58:37 PM

SC1 had 30000 premined for bounties, currently my personal wallet has ~115000 SC...
The fact that I personally take a cut of all minted coins is not written on the website.

Use terms like CPF if you want. I fixed your post to reflect reality.

As far as the block chain. The block chain is backwards looking. It can't provide any oversight. It can't prevent you from similar taking the funds and spending them, or laundering them, or claiming "we got hacked" (aka mybitcoin).

Quote

You may not like what SC2.0 does to siphon funds from unsuspecting users into my personal wallet file. Either way, it's the most advanced con out there, and will only get better.

Fixed your post again. The only thing "getting better" is your personal wealth. At the rate of 6.4 SC siphoned out of the Solid Coin economy every even block. Things are looking up. While I wrote this you got another 25.6 SC richer for doing nothing.

I think you mean your version of reality, so let me correct that for you. As of right now I've safely handed out 33000 in bounties personally, I have a history of not scamming people to this point. That said I don't think anything will change your mindset and that's ok. I suppose you'll want to educate as many people as possible about the imminent SC scam threat, you can do that too I guess, just don't try to pass off lies or mistruths as fact and I don't mind.

I think everyone has a right to question whether or not I can safely handle the CPF and also the other "Trust" factors that have been added to SC2.0. I don't have a problem with those questions being raised and people pointing it out to others. What I do have a problem with is lies such like that I *am* a scammer, which is bs, until I have scammed you cannot say that. If you find the truth gets in the way of your message perhaps you'll realize your message isn't a good one.

You're scamming via bait-and-switch. There are more ways to scam than outright theft. The rationale has already been outlined. You've intentionally misled people with your FUD articles - care to defend those, and your previous statements that you purposefully tailored them to mislead? You've lied about the premine. You said it was only 1.2 - when in fact it is 1.2 + 12m trickle. A premine is a premine - regardless of when it becomes 'active'. All of which has personally benefited you.

How many more instances of CH outright lieing and deceiving bitcointalk forum members does he need to give before he gets the label?

Red

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Activity: 210

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Question, for CoinHunter. Who runs the trusted peers? Are they all yours?

xzion

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Merit: 10

Quote from: Raoul Duke on October 11, 2011, 11:14:12 PM

Quote from: ?? on ??

While I wrote this you got another 25.6 SC richer for doing nothing.

How can he be richer if all you guys say his coins are worthless?
what you're saying doesn't make any sense...

as i see it, the coins are worthless while held by the trusted nodes (10 x 1.2m premined). but when they bleed coins to CH's wallet (every even block, 3.2SC) then he's free to spend them on whatever he wants. nice.

CoinHunter

sr. member

Activity: 252

Merit: 251

Quote from: ?? on ??

Quote from: CoinHunter on October 11, 2011, 10:58:37 PM

SC1 had 30000 premined for bounties, currently my personal wallet has ~115000 SC...
The fact that I personally take a cut of all minted coins is not written on the website.

Use terms like CPF if you want. I fixed your post to reflect reality.

As far as the block chain. The block chain is backwards looking. It can't provide any oversight. It can't prevent you from similar taking the funds and spending them, or laundering them, or claiming "we got hacked" (aka mybitcoin).

Quote

You may not like what SC2.0 does to siphon funds from unsuspecting users into my personal wallet file. Either way, it's the most advanced con out there, and will only get better.

Fixed your post again. The only thing "getting better" is your personal wealth. At the rate of 6.4 SC siphoned out of the Solid Coin economy every even block. Things are looking up. While I wrote this you got another 25.6 SC richer for doing nothing.

I think you mean your version of reality, so let me correct that for you. As of right now I've safely handed out 33000 in bounties personally, I have a history of not scamming people to this point. That said I don't think anything will change your mindset and that's ok. I suppose you'll want to educate as many people as possible about the imminent SC scam threat, you can do that too I guess, just don't try to pass off lies or mistruths as fact and I don't mind.

I think everyone has a right to question whether or not I can safely handle the CPF and also the other "Trust" factors that have been added to SC2.0. I don't have a problem with those questions being raised and people pointing it out to others. What I do have a problem with is lies such like that I *am* a scammer, which is bs, until I have scammed you cannot say that. If you find the truth gets in the way of your message perhaps you'll realize your message isn't a good one.

I have never been hacked, I'm an advanced programmer and know much about I.T. So if I do come out saying "I've been hacked" I wouldn't even believe it if it was me personally.

Like I don't believe most people that say that to cover up their fraud.

Raoul Duke

legendary

Activity: 1358

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Quote from: ?? on ??

While I wrote this you got another 25.6 SC richer for doing nothing.

How can he be richer if all you guys say his coins are worthless?
what you're saying doesn't make any sense...

johnj

full member

Activity: 154

Merit: 100

Quote from: CoinHunter on October 11, 2011, 11:05:37 PM

Haha yeah what a scammer I am. Spending weeks and working 12+ hour days to make a better product, implementing CPU mining so more people can generate SC, improving security and performance.

If I was a scammer you know what I would do? I'd release a slightly modified chain which does barely anything different (TBX/GG) premine 7 million coins and not really tell anyone about it until some days later. That requires only maybe an hour of my life vs the 1000+ hours I've invested already.

Please get some perspective.

Your deffering to the actions of Lolcust is irrelevent. If you want to press that Lolcust is a scammer - go ahead lay out your case of his consistent, deliberate deceit.

Going by your history though - it's now clear this is an actual scam. Others need to be warned about your deceitful activities with you receiving the appropriate scammer label.

CoinHunter

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Merit: 251

Quote from: coblee on October 11, 2011, 11:04:10 PM

This is the same reasoning Lolcust used for why we should trust him with 7.7 mil premined. I can't trust Lolcust with that, and I can't trust these million sc holders. Sure, they don't want the coin to fail, but why can't they use their power to make more coins slowly? It won't kill the coin, but it will build their wealth. So now tell me why I should trust them.

Except I don't have 7 million coins, and I've already stated that it isn't "my coins" , it's every SC supporters. Just because I have the wallet doesn't mean much at all in my eyes. You can not believe that, it's your right.

Quote from: coblee on October 11, 2011, 11:04:10 PM

So what happens after many years of this and all the trusted million dollar accounts are now less than a million dollar because they've transfered enough of their wealth to you and your CPF? Will you then become the sole trusted user and get to control everything? Nice! I'm looking forward to that.

CPF can obviously fund the account holders back to positive territory if needed. It's also one way to stop an attacker getting grip of one of the trusted wallets, if they do they can't spend it any other way than protecting the network.

By the time we have real millionaires we will have some very tight guidelines and recommendations for them to increase their security. Running on multiple nodes, block proxying, etc. The attacks I'm looking to defend against are government (the biggest) related ones. If we can defeat them everyone else will have no hope.

Now that SC2.0 is secure from this perspective I'll be able to argue with businesses that they can adopt SolidCoin as it's secure from all viable threats unlike all the other alternatives. I wasn't able to do this with BTC or SC1.

Red

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Did you really create the next crypto-anarchist currency of the future by saying, "All everyone has to do is trust the rich!" Really?

simonk83

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What a joke. Never mind, it'll die (again) soon enough when people cotton on. It's only being mined now as people are greedy and want to make sure they're "in", just in case. The decline has already begun.

CoinHunter

sr. member

Activity: 252

Merit: 251

Haha yeah what a scammer I am. Spending weeks and working 12+ hour days to make a better product, implementing CPU mining so more people can generate SC, improving security and performance.

If I was a scammer you know what I would do? I'd release a slightly modified chain which does barely anything different (TBX/GG) premine 7 million coins and not really tell anyone about it until some days later. That requires only maybe an hour of my life vs the 1000+ hours I've invested already.

Please get some perspective.

johnj

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Activity: 154

Merit: 100

Quote from: CoinHunter on October 11, 2011, 10:58:37 PM

Quote from: ?? on ??

It is double speak but it isn't worthless. More SC deception.

The super nodes have 12 million and they can't be spent = True.

HOWEVER the super nodes transfer 5% of block reward from Super Node to Coin Hunter (as part of the even blocks).

So yes the 12 million in super nodes can't be spent but slowly that money flows FROM the Super Nodes to Coin Hunter personal wallet .... where it can most certainly be spent.

This is correct, think of trusted nodes spending money to protect their investment, just like they do in real life with safes, etc.

Quote from: ?? on ??

As a real world example. As of time of writing there are 20150 blocks in the chain. Half of them are the "even" supernode blocks and they each transferred ~3.2 SC to Coin Hunter. That's ~32K coins. So the Super nodes no longer have 12 million coins. They have 11.968 million coins and Coin Hunter has ~32K.

But wait there is more. The "even" blocks also have a matching 5% tax. Coins created out of thin air. So that is another ~32K coins. If Coin Hunter has no miner he gains ~64k coins a day for being the glorious leader.

The CPF currently has 32354, though it will be obtaining some more as the old bounty wallet is moved into it (2500SC) and the leftover from the genesis block (about 80000 coins). Sorry if you think this is a secret it's not.

SC1 had 30000 premined for bounties, currently the CPF has ~115000 SC, and you think this is a big deal? GG/TBX has 7 million premined coins, do you have threads pointing out the scam factor of this? You should have about 70x more posts about it if you're being fair. Please link me to them.

All the dealings with CPF will be written on the website as part of public policy, there is a block chain remember, everything is recorded.

By your design, the 12m trickles to Coin Hunter. Your claim of 'Oh I only have 32k' is only after one day. Your previous mention was that only 5% of 'actual' blocks mined, you made no mention of even/odd differences, super nodes, 13m premined, etc.

Lolcust has been consistent from the beginning. Both of his chains have a 'gimmick' which is the 'laundry'. Lolcust hasn't paid others to spread FUD about other chains. Lolcust hasn't shut down one chain only to have it re-emerge under completely different parameters. Having premined blocks isn't defacto scam. What is scammy is the way you've purposefully lied about critical information.

coblee

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Creator of Litecoin. Cryptocurrency enthusiast.

Quote from: johnj on October 11, 2011, 10:04:24 PM

"Why can you trust someone with a million dollar account? Simply because if they have that many coins they are well invested into the SolidCoin system, if they tried to attack the network they would obviously devalue a great amount of their assets. But it's not just this simple, multiple people can have million dollar accounts so how do we sort out who is "more right" if they submit blocks at the same time? We trust the person with the most money, as they have the most to lose."

This is the same reasoning Lolcust used for why we should trust him with 7.7 mil premined. I can't trust Lolcust with that, and I can't trust these million sc holders. Sure, they don't want the coin to fail, but why can't they use their power to make more coins slowly? It won't kill the coin, but it will build their wealth. So now tell me why I should trust them.

Quote from: CoinHunter on October 11, 2011, 10:58:37 PM

This is correct, think of trusted nodes spending money to protect their investment, just like they do in real life with safes, etc.

So what happens after many years of this and all the trusted million dollar accounts are now less than a million dollar because they've transfered enough of their wealth to you and your CPF? Will you then become the sole trusted user and get to control everything? Nice! I'm looking forward to that.

Deprived

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I'm pretty certain he's lieing at least on one thing:

His "white-paper" basically says the premined wallets are place-holders "until Solid-Coin does have real millionaires".

But elsewhere he's said that every other block has to be mined by a super-node/trusted-node - which get to mine at difficulty 1.

Unless super-node/trusted-node = SC2 millionaire then rather obviously one of those statements is a lie.

IF super-node/trusted-node DOES = SC2 millionaire then that would make another statement of his a lie - that there were multiple criteria to be met to become a trusted node (I suspect there's only two criteria - that your nick rhymes with loinmunter and that you're a scammer).

Topic: SC Releases his 'white paper', hilarity ensues - page 9. (Read 13187 times)