The "revamped" Pink Coin was launched in the later part of May 2014, salvaged from the initial one that was abandoned by its dev, "Bigman". "Crypto Cayce", the largest holder, was the key player in the "revamping" of a coin that, in spite of the anonymity of all members of its dev team, made a point of divulging transparency, as well as honesty and charitable generosity, as it's main mantra.
Just another copy/paste hackjob on the tech side, Pink Coin got my attention and soon after I listed it as the (first and so far only) coin in my WALL OF HONOR, right here on these boards. I "bit" and believed that it could be the coin with a future, the clean coin in a sea of scams. Not only did I listed first in THE WALL OF HONOR, I invested in it (modestly) and was willing to work very, very hard for it, for years for I envisioned a potential great future for the project... if the community was willing to do what was necessary to achieve it. I devised and presented (to Crypto Cayce) a plan of action that required some investment, a very small investment considering the scope and sheer duration of the plan (all the details of the proposal have been posted a couple of times in the thread of The revamped Pinkcoin, here at BTCT). Within less than 2 hours, I realize the "pinkcoiners" weren't even remotely ready to support with their donations the proposal and I retired it from even consideration while urging volunteers to pick up whatever part they could of the initial plan to move the project forward. No one did.
I was quite impressed (and it was going to be a big part of my plan) by the charity aspect, with hefty goals ($20,000 for Cancer prevention goal, to be delivered by October 30th). Many more causes to be followed...
As impressed as I was when, following the lead and standard set up by the dev team at Vericoin, soon afterwards (early July), I was even more impressed when all but one (Sumgye) of the six devs came fully public (until then only the guy in Pakistan, Sony Sasankan, was no anonymous). The last one was Crypto Cayce who happened to be a semi-pro poker player (currently like #750 or so in the world ranking) by the name of Danny Johnson. Impressed and a bit worried shortly thereafter for it was already well documented that Crypto Cayce was the largest holder or one of the largest holders of the coin with over 45 million of the total of over 360 million the coin had. My reasons to worry materialized when forced by the community, they devs improvised and "anon" feature that clearly diverged from the original path toward transparency and full compliance with regulations when and where they would appear. The "anon" feature, when finally worked, was not only a departure from the original path but even as an option, evidently a positioning against the initial core values of the project.
It was no surprise to anyone that shortly after being known that Danny Johnson was the largest holder and a pro player, that Pink would continue its development further and further from the original plan, now developing a poker playing platform. Poker, I remind you, is illegal in the United States where the coin is based.
I posted my opposition to these developments several times and, more loudly when it became not just known but promoted on the Opening Post of the BTCT thread, that the "anon" feature, as well as the lottery bot and the poker platform were FOR SALE to any other coins with the procees of such sales going to the pockets of the developers who had used donations to develop and/or pay for that software. This was very "unpinky". So, after sounding the alarm, I decided to start looking under the rugs to see what else wasn't pink at all... I found that not only the goal of $20k for Cancer prevention charity had been cut in half but that, actually, no one had donated anything for over 2 months and that the total had reached only 9 donations adding up to $600. No one was doing anything about donations, not even mentioning them anymore in social media. The only other source of donation to the cause was the Twitter lottery bot that in spite of being hailed as extremely successful, has brought a total of just about $300 altogether.
I kept looking... just in the very public thread, and soon I discovered that while all of this was going on, something else had too: The developers, all of them, had been dumping millions and millions of coins. Here's a detail of what I found as I posted it on the thread:
"Especifically you (Sony) DUMPED almost the total of 3 million coins plus you got. 733k left out of 3.4 mill. One has to eat and pay rent, right?
Edit to add:
Fayoling, all of his 567,633 coins, DUMPED (that's, obviously, the signature address only. There are other addresses, of course.
Sumgye, all his 100+k, dumped... that would be from the address on his signature. His OTHER address is a bit more telling though:PTz9c7gsDu14FnD6tPFFUPy9rihVXH7GTx. You can see how he has DUMPED 23.4 million OF HIS TOTAL OF JUST OVER 25 MILLION. Do you think Sonnyboy that capitals are warranted?
Owl - out of 10 million, 7 million DUMPED.
All of this is very easy to corroborate just checking your known wallets, SPECIFIC FACTS, as usual.
To the nutcase: On May 30th, Danny has already admitted he had "around 45 million coins" (and here is the proof: https://bitcointalksearch.org/topic/m.6999294 besides him, "Dr. G" also had in excess of that amount... Also this guys had in excess of that amount "for the long term":https://bitcointalk.org/index.php?topic=624017.msg6997690#msg6997690... which proves, in case there was any doubt, that you are not only a sick, lying nutcase, but that you have no idea, ever what the fuck you are talking about.
To the forgetful Danny, here's for your remembrance: https://bitcointalksearch.org/topic/ann-revamped-pinkcoin-pc-pink-pos-multipool-fundraiser-anonymous-624017. And so you don't have to read the entire post, the lines that count are here: "I personally bought 1,000,000 Pinkcoins at market rate directly from @CryptoCayce since I liked the group's outreach plans and projects mentioned in their announcement." (quotes and bolding are added by me).
Now, to all pinkcoin holders interested: The above is just a glimpse of who you have developing this project, only 5 months into it. The real behind the scenes action, including selling of software (that they don't bother to even hide anymore, because the cat's out of the hat), hush-hush transactions off-market, etc. I can assure you are much, MUCH more numerous that what has been showed here. It's a whole world out there. With the facts presented, which is just the tip of the iceberg, it's up for you to decide if continuing supporting what was once a great idea and has become a total embarrassment for all who, like me, once believed in it.
Danny, I know you have me on ignore, but I'm sure you are going to get a bit of a smell of this post. Your credibility is gone man, sorry. And I am going to go a bit further and openly accuse you of lying about having given away 14 million pinkcoins. You haven't. Not even close to that figure. That would be almost 3 million coins a month... in what? to who? Sorry but no way. I am calling your bluff."
The "sick nutcase" mentioned is Spock Skywalker, one of the "pinkarmy" elements bent on negating all forms of evidence, no matter how irrefutable.
After calling on the lies by Crypto Cayce, one has to smile when reading the "explanation" by "Sumgye":
"I've never had anywhere near 25m pink. That is indeed my address, but you do realize that part of the way staking works is that the wallet resets coin ages by sending coins to itself, right? And the explorer doesn't differentiate between self-sent coins and coins sent to others. So, in simplest terms, every time I stake 1m coins, the explorer says I both Sent 1m more coins and Received 1m more coins. That's just how it works.
As for why it's not staking right now, well I haven't actually had access to that wallet in over a month now, since it's stuck on a hard drive in a broken PC.
As for the 100k in my Sig address, those all went into testing the Anon feature back at the end of May for crying out loud, and I honestly don't remember what address they went to after that. But you're really reaching on that one. As if anyone would have minded me 'dumping' 100k at ~40 sats in the first place."
Followed by:
"Hmm. I just went to try and find another wallet with huge sends and receives and realized the explorer seems to account for that now. I'm not entirely sure what's going on with all that 'send' and 'receive'. I know I've got more than 1.7m on that computer right now (I should actually have about 3m in that wallet). It must be in some change address. I'm not really sure. What I can tell you is that I never had anywhere near 25m coins. Not even close. I did do a LOT of testing on the anon system months ago, and my coins have shifted quite a bit in my wallet, and truth be told I did sell about 3 million coins over the course of the last 6 months, most directly to other members of the PinkCoin team, though I haven't sold any in over two months now. I have also given away & contributed about 2m coins to support various projects and people, if anyone's curious."
No further comment need to be added... except that, as evidenced many times, these guys are not only not bothered by the fact that they sell off market millions of coins, but consider it perfectly acceptable regardless of the obvious impact that such transactions would have in the regular market. They just don't care. All they care about is to line his pockets. Not the coin. Not the direction of the project. Not the charity results.
Naturally, when corralled with all the evidence, there's only one place to go: Hide. So they have. As of today they have closed the public thread: https://bitcointalk.org/index.php?topic=624017.2460 and started instead a censored one: https://bitcointalksearch.org/topic/ann-new-pinkcoin-pink-moderated-thread-pos-fundraiser-anonymous-836437 in which they can continue their lies and their behind the scenes deals while the audience (and market cap of the coin), is more and more reduced by the minute.
Now those who may still be interested in what has become a joke of a project and a minimal side show coin in alt, they'll still have this new thread where the truth and the facts will remain for everyone to see, far from any censorship.
As a side note, I'll mention that the entire dev team sponsored, supported and heavily promoted the launching of SEED coin recently, by an anonymous dev without any other credit that being a "personal friend of "sumgye". You can head over there to see what happened with that launching that took away the last straw of credibility the devs of Pink may have had left as the co-responsible parties of that debacle in which the dev team of PINK and the friendly dev now control more than half the total of (absolutely worthless) coins. The thread, for now, remains public but I'd bet it will be shut down any moment now to opt, again, for the same solution implemented by the Pinks: Censorship.
piece of advise on both: Run, not walk from both these debacles and as far as you can from the individuals behind them.