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Topic: THE WALL OF SHAME - page 4. (Read 26463 times)

legendary
Activity: 1162
Merit: 1000
August 01, 2014, 12:42:39 AM
PRO...

Last night I posted this in the CENSORED ANN thread of PROcoin:

I have to say the offer, by Darren Palmer, is "interesting".

This coin is not going nowhere near 2500 sat by Monday, that's quite obvious, so it is indeed quite "interesting" to watch this loser's gamble developing since the term is so brief.

Mind you, the 2500 sat is the price "some" -I bet not a lot- paid in the IPO/ICO, but in way over a month -pretty much time enough to determine the real potential of a new coin nowadays- PRO had not managed to go over 100 sat... until this gitzmo was presented with amazingly spectacular initial results.
At least 500 BTC have been traded at present count and the price exceeded 800 sat at one point, which means that a lot of people has bought small participation in this "lottery" that may or may not happen to be true.

I would imagine this post will be censored pretty quickly so, if it is, you would have to go to THE WALL OF SHAME to read it... meanwhile, a few considerations beyond the above stated:

-- Darren Palmer, the name behind this coin, is a total unknown in spite of his self-appointed title as CEO of Instantbitcoins.com. There's no recognizable linked-in profile of him, academic or otherwise employment history anywhere and, unless he is into interior decorating, he simply doesn't exist. Not an endorsement, precisely, for someone that, obviously, pursues and loves the limelight. Where have you been all these years, Darren Palmer? Who were you before you started selling bitcoins in the UK?

-- There's absolutely no point whatsoever in making an offer of 2500 sat "guaranteed buy back" with the coin trading under 200 sat. Any way you choose to examine the gitzmo, you will reach the same conclusion: It can only pursue the dumping of a significant amount of coins against the potential credulous people that will invest small amounts for the outside chance that the offer will end up being legitimate. A lot of those in crypto. And if Iconic Expert joins the fray, quite a few of his twitter followers will probably invest at least small amounts in it, regardless of the (lack of) credibility.

In conclusion, in you are piked by the offer, invest something you won't be seriously affected if it is quickly lost. Otherwise, proceed very, very cautiously.
And read: https://bitcointalksearch.org/topic/wwwinstant-bitcoinscom-and-payprocoin-breaking-uk-laws-649955. Extract your own conclusions. Mine, at the (minimal) risk of being wrong, is that you are going to be seriously disappointed by Monday.

We will definitely see very soon.


And seen we have indeed, soon enough -only a few hours later- that the post has indeed been censored, that it PROCOIN is, indeed, a scam, that the "guarantee" was the gimmick it was obvious it was and that, once again, a crook has run away with the money of the blind/greedy, idiots and naive people of crypto. SHAMEFUL, indeed. SHAMEFUL, also, that IconicExpert has participated in the scam, whether fully knowingly or not it doesn't matter: His credibility -the part that had not been (unfairly so) tarnished yet, has been fully destroyed now. His "followers" will do very good avoiding his picks (there's a new one announced for Tuesday, and I am already warning you: BE FULLY AWARE: When you buy in, he will already be selling out, fully knowing he's picking yet another scam coin. IE, apparently, has gone way farther into the precipice now. He doesn't care who gets hurt, he will continue peddling coins while there's something to get... at the expense of the naive/idiotic/blind-greedy. If you want to preserve your investment, STAY AWAY from his picks. All, every single one of them. There's no excuse whatsoever to fall for it one single more time: His is NOT after making money; he is after your money.

As for that crook, Darren Palmer, he's done, of course. I doubt anyone will ever buy a single BTC from him. But he will continue being around under different names... including Darren Palmer which more than probably, is nothing but yet another alias or handle. Good riddance and fuck you, by the way.

A word -again- of warning: There's a very solid reason why some good coins are not listed in my WALL OF HONOR, even though they comply with almost all the requirements: There are several (Vericoin, Solarcoin, others...) that simply CENSOR either their ANN threads here, or their IRC -this is widespread, unfortunately- or their Reddit. Once again: There's only one reason, in spite of all the FUD bullshit they post as an excuse, only one to have a so called "self-moderated" venue, whichever it is: To silence discrepancy. NONE OTHER.

"Palmer" has even closed the ANN thread, so people will not flock it with the well deserved insults, threats and other showings of anger and desperation. In this case, there's no feeling towards those who chose to fall for the obvious scam, not one bit. They were advised -by me- against it thoroughly. They shouldn't complain. But that doesn't make the whole thing, and their perpetrators, "Palmer" and "IE" -nor the censorship- less SHAMEFUL.
legendary
Activity: 1162
Merit: 1000
July 29, 2014, 03:15:57 AM
VOOT/SYNC

It is what usually happen when you give your money to unknowns... even if, in this case, the unknown has some kind of history in BitcoinTalk. The handle is "MsCollec", who may or may not be a woman and who is the main developer at both SYNC and VOOT. Why two coins? would be the immediate question anyone even average intelligent only would ask. And the ONLY answer that applies is, either another question (why not?) or a conclusion: Because you can, reason enough for more than half the absurdities in the world. In any case, both were a go and both were, briefly, considered somewhat successful if in the obvious infantry... ah the permanent lure of new coins to the blindly greedy who hope to make a quick killing jumping ion on the ground floor, especially if it through their mining rigs, owned or rented... It never fails. You could announce tomorrow Turdcoin, promise a 100% interest annually and you would have quite a bunch of those greedy miners, as well as many "investors", following you and mining for you and willing to give you money... even if you use the most ridiculously obvious handle to hide your true identity. It doesn't matter: Greed, blind, stupid, will make it a go 100 times out of one hundred.

in this particular case, Ms Collec "always deliver on his/her promises", you would read in their thread. One of those promises is the new fad "du jour": 'decentralized market'. Ms Collec is just an average to poor coder so he/she contracts out the things he/she promises. And, apparently, groups of coders out for hire will say yes to everything but not necessarily deliver what they are contracted to deliver. Whatever the situation, there was a delay in the delivery of the 'decentralized market' for Voot and Ms Collec tried to code it him/herself... only to be shouted at by the original coder because the Ms had "messed it up". Add to that the fact that Ms Collec was receiving the usual nasty PMs and tweets and he/she couldn't take and, in a very clumsy way, first announced she was quitting Voot altogether in Twitter and then, not much later, announced it was all a mistake and she was kind of not quitting... for the moment at least until a new lead developer was found.

Needless to say these series of circumstances, to call them something, sank the price of but all the way to 65 sat. Needless to say, A LOT of VOOT was sold above 1,000 sat just before the "mistake" of the tweet. Needless to say, although Voot has recovered a little since hitting 65 sat, the deluded bagholders have only managed to keep it around 600 sat.

For anyone with anything under their hair, Voot is done. No coming back from such SHAMEFUL behavior by Ms Collec... now, what is amazingly surpriseng is that these events have had a relative minimal -is around 30% can be considered "minimal"- effect in the price of SYNC. Remember, same individual is the lead developer there. Of course there are a whole bunch of deluded, incredibly greedy and totally blind "investors" there that have convinced themselves that the meltdown of Ms Collec -to not go too much deeper into what really happened- in Voot will have no effect on SYNC.

Yep. And sometimes when there's thunder and lightning, there's no rain in all of the surroundings... fact is neither Voot nor SYNC have ANY reason whatsoever to exist in the first place. Now they have a very solid common reason to disappear... quickly. And disappear, both will.
legendary
Activity: 1162
Merit: 1000
July 26, 2014, 01:10:54 AM
ELITE COIN

One more. Several every day. Same ol, same old: Hidden premine. Shame on the dev/s, shame on Bittrex for bringing it out but, above all, shame on the people that convinced themselves they were going to be smarter than the next guys and they will reap profits while leaving the next guys holding the bag. Too many examples to list... Nebula, ninja, sparta... and now elite.

Ok, there were -as always, ALWAYS, are, and enormous amount of red flags on all of these: Newbie account, unknown devs, self-moderated ANN thread, 5% "interest"... nothing new on the coin itself, just an obvious copy/paste hack job. The hook -incredibly "popular" these days-, PRETENDED SCARCITY. As if previous non-scam coins such as 365 or 42 or even the one with one single coin, have not demonstrated clearly enough that scarcity is just a gitzmo... that never, ever works. And yet, the blind greedy ones continue filing up like sheep with their BTC ready to give it to an anonymous handle with all these flags -and others- clearly pointing toward scam.

And, of course, when they realize they have been taken -again- they claim, shout and pretend that someone else is the guilty party... Of course the devs of these coins are crooks. Of course the policies of Bittrex suck big time. But you have, among many other resources across the net, this WALL and, above all, the most elementary common sense. If you are investing, obviously you are greedy. One doesn't exist without the other. So you are a target and an easy one, quite frankly. Before you lose it all, learn the first rule of investment: Preservation of capital. Always leave with resources to play another day. Never go all in. And, for heaven's sake, investing in alts is risky enough in itself, you don't ever need the added risk of giving money to absolute unknowns, with no legal name, who don't accept criticism and censor their threads and that offer an interest rate that would not be sustainable is the coin is to have a future. 5% is an unsustainable rate of inflation/interest if the coin is to last for years and years. It simply cannot work and will ultimately rtender itself worthless, on inflation alone.

I know this is like shouting in the desert. No one wants to hear. A couple would have lost everything, half a dozen will leave crypto altogether, 3 dozens will just go to the next shit/scam coin convinced they will get back all their loses in Elite in 24 hours. And the rest, well, they are that rare breed that only invested 20-30% of their total investment money and consider themselves very smart for it... while their nests continue dwindling to quickly join the couple cited in first place.

It is shameful. It is very sad. And it is inevitable.

Nevertheless, this wall will continue here hoping to serve new people coming into crypto to be careful out there and ONLY invest in projects who have KNOWN developers, with legal names and addresses quite clear, with bios that you can check, with proof -offered by the devs- that there's no hidden pre-mine, and with apparent and obvious honesty and transparency. And, of course, with BTC Talk threads that are not censored nor moderated. There are several such coin projects, usually they would be listed in the WALL OF HONOR, but there are some that are not because they fail some of the very strict requirements. Look for them. They are worth your investment, if you believe in the future of crypto currencies.

Stop sponsoring the crooks and the bad guys. You don't have to. You absolutely need not to. Simply do not.




legendary
Activity: 1162
Merit: 1000
July 22, 2014, 01:49:04 PM
THE ANON MARKETS

For a while now there's been a trend in crypto to create "markets". The latest trend, worth millions in ephemeral daytrading gains, has been the "anon" features promised by practically all the new coins and led by the likes of Darkcoin, Cloakcoin, Shieldcoin and many others. Now, the next step -that was initiated and provided -the platform- by NEXT Coin precisely many months ago, is the so-called decentralized "markets". Those would be the places where you can buy, anonymously, all kinds of goods and services, from anonymous providers on an anonymous platform... obviously the things that you can buy there are not available at your regular Walmart. Or Ebay. And, obviously, you would have to trust, if you are a buyer, an anonymous seller somewhere fronting up you moolah and hoping to receive your purchased items at you anonymous (or not) address. Quite a tall order, right? Oh well, there's some kind of "Trust system" implicated, kind of your reputation as a seller -like in Ebay-, I take, that would ease the pain: Say a drug dealer in Uganda has built a reputation on the anon market for delivering high quality goods, you can trust he would send you the dust and not sugar... Oh, but you have also anon services, such as "arbitration" or "Escrow" where you can avoid having to trust the Ugandan guy selling you, and delivering, the forbidden "medicine" in your particular country. So, instead of having to trust the Ugandan, you will have to trust the anonymous Escrow guy, whoever or wherever he/she/it may be. The "arbitration" 'feature' eludes me completely, of course... but who is counting, really. It's all bullshit, clearly.

Or, as someone pointed out to me, it's like Silk Road 0.2 (you know the underground market seized by the FBI?). So the "selling point" here is that these anonymous markets will be so sophisticated that law enforcement won't be able to seize and close them. And, if they do, who cares because they won'ty be able to trace you as a vendor or customer so you can jump to the next one and continue you merry "trading" free as a bird.

I find the whole thing to be just hot air and, most definitely, several steps backwards toward the supposedly main objective of crypto currencies, which is to reach mainstream, but what do I know? People, investors/traders are paying a lot of money for promises of this kind of stuff, so there's money in it, no doubt. On the promises, mind you. No chance in hell any of that crap will succeed in the real world but, for now, shameful as it is, there's money in it. And money is what everyone is after in crypto, isn't it?
legendary
Activity: 1162
Merit: 1000
July 22, 2014, 01:13:19 PM
Hey fanboy, the courts are open to anyone so feel free...

The court of the markets though is giving you quite an appreciation of your "religion", so perhaps you should listen to it.

Or not.

But get this once and forever: The time of the scams like Blackcoin, is up and up for good. And yes, there are a bunch (and growing) good coins like Vericon and Pinkcoin. And yes those tend to be "my" coins (I trade) because they are transparent, honest, assume responsibilities and act professional. No "inside jobs", like in Blackcoin, where the official pool is owned fully by two of the developers. And that, as everyone interested knows, is just the tip of a huge iceberg... that, by now, has even melted because, guess what, blackcoin is not even good to steal from its fanboys like you.

But, nice fanboy that you are, you will continue seeing your value dwindle in the slow death so foretold. It's your prerogative. But no amount of hating for other coins run by good guys will change that well deserved fate. Have a nice life.
legendary
Activity: 1302
Merit: 1002
July 22, 2014, 03:43:03 AM
Excellent thread, need more like this to expose the shitcoins like blackcoin and cloakcoin!

Told guy who wrote... ( like Super coin was not another copy paste BC code with some improvements... )
And man without Blackcoin it won't be your Supercoin,Vericoin,Pink coin and 100+ other coins...
show some respect... ( i as BC holder respect PPC very much without it it wont be BC Nova HBN FTC too... )

SUPER to da moon! Smiley

I agree dev team needs to do more promotions, many people don't understand how good the SuperCoin is!

I see many unique or near unique features from Supercoin:

- Easy to use, superfast Supersend anonymous feature
- Superfast transaction time (each transaction confirmed within less than 1 min)
- Superblock for PoS

supercointeam, you need to do more promo and make people know these advantages, it is SUPER!

PESACOIN
[/b][/color]

At a time when transparency, accountability, responsibility and professionalism are coins like Vericoin, Pinkcoin ...

Like any coin is PERFECT...  and all your coins are perfect...

write bullshit without serious evidence maybe some idiots will believe it...
And tell my coins are best... !


barabbas if someone will sue you for false accusations you can not provide any evidence in 90% cases - in court...
legendary
Activity: 1162
Merit: 1000
July 22, 2014, 03:05:42 AM
PESACOIN
[/b][/color]

At a time when transparency, accountability, responsibility and professionalism are taking flight finally and coins like Vericoin, Pinkcoin and many, many others raise the bar on standards every day, this PESA project has to be the dumbest in history. This is like one kid with a second hand mac having the great idea of go to kickstarter and ask for funds to launch a coin that will never even remotely be up to par with current technologies, will be instead a copy of 800 others or more, and has not even a remote chance in hell to make it beyond one week. The fact that some miners are actually mining it is both flabbergasting and corroboration that blind stupidity will indeed remain in crypto for quite a while in spite of the ever more secure and promising offers already available.

Obviously the dumping not only is of majestic proportions, anyone with even a very small level of understanding knows that ANY price at all on this train wreck wanting to happen, is way more than double what it eventually will be worth... within days.

Why bother with coming out with a real name and a bio, a decent website, with some semblance of a roadmap, with some kind or nebulous idea of what could possibly justify this coin's existence? No need! People is so blinded by greed and stupidity that they will rent rigs to mine it and spend actual BTC in buying hoping for a quick buck if someone is even more stupid to buy from them.

Oh well, there are certain things that are simply, seemingly, inevitable.

SHAME.
member
Activity: 84
Merit: 10
July 21, 2014, 07:36:36 PM
full member
Activity: 150
Merit: 100
July 21, 2014, 03:22:06 AM
Excellent thread, need more like this to expose the shitcoins like blackcoin and cloakcoin!
legendary
Activity: 1162
Merit: 1000
July 21, 2014, 02:41:24 AM
TOR is a network. Available to anyone. And I DID mention that arcoin is similar to many others already established.

I did not err or forgot, you did NOT have an IRC channel at the time of the writing. Now, way too late for any hope, you do.

As for the "father" of bitcoin being anonymous, that was 5 full years ago. The world has changed significantly. The bar in crypto world has been notoriously raised. Sorry, but you are not up to par and, consequently, about to be extinct.

Think of another scheme, I'm sure you will come back. Hopefully after learning your lesson and having all the basic requirements fulfilled.

And, if you want any hope of success, for your real name and bio on the line.

But who do you think you are?

I ask you, WHO ARE YOU? Give me your name and Bio.

Be careful my friend, you may swallow all your words very soon. We are not sleeping and we have many plans.

I am someone who has taken upon himself the task of uncovering, as soon as possible, schemes and scams to get innocent people out of their money. Like Arcoin. I am not selling anything not expecting or accepting any donations. You, on the other hand, "launched" a coin, which may or may not be a scam, without even the most basic minimal standard requirements. And your goal, like any business, is to get the money of the people straight to your pocket. That has worked fine in the past but you are several months behind and will -hopefully- not work anymore.

I am quite careful and, most definitely, not your friend. But I would be more than happy to "swallow all my words" (well, almost all) if you are able to turn this train wreck around. But you would excuse me if I don't give you the benefit of the doubt. For that, I would need to know who you are and what you are capable of achieving in the world of tech/crypto... none of which seems to be in your "to do" list.  

"I am someone who has taken upon himself the task of uncovering" Sorry, that's not enough, Who are you? Whats your name and your Bio?

You know how many people talk lies on this forum? So, I need to know who you are for your "information" to be relevant to me, and to all of us.

So, you are so smart, that by your logic, if anyone reveals himself, that's where you put your money in? You know how many scams are in the Stock Market, including the penny stock Market, where all the CEOs info is public?

I don't know if you know, but AuroraCoin dev was a public person, all details were available. You know how many people lost money there?

You may have all your owns opinions, but please, a little bit of respect, when you don't even know with who you are talking to.

At this point, I am doubting if you are about 15 tops or just mentally handicapped, sorry. I will repeat one last time: I am not selling anything nor requesting or accepting donations. You are.

I am reasonably smart yes, and if anyone reveals himself and by doing this exhibits a bio with a reputation or promise, I may buy what he's selling... definitely much more so that from some handle on a crypto forum just registered. I am fully aware of the scams in the stock market and, of course, I also have seen "The Wolf of Wall Street" -which you seem to even have missed-. I also have vast experience in that field. Even if I wouldn't, CEO's who scam, are prosecuted by the law and held accountable.

Losing money in crypto -or any investment- is not only possible, even under the best of circumstances, but inevitable in some instances. Precisely that is one of the main reasons why this wall was created, to light the red lights of cases like you and Arcoin and save some people money.

Respect is a dear -and dire- commodity in crypto and the internet in general. It is never given away... and for good reason: It is EARNED through deeds and reputation, neither of which applies to a newbie handle. I do know who I am talking to: A newbie handle trying to sell people some air, about to disappear only to resurface in no time with another scam coin. If you are somebody else, you will have to show it and if that someone is deserving of respect, it will be given generously. I'm willing to bet money for donuts that you will choose to leave the crypto community without that privilege.

And with that, I will cease to entertain you. But the Wall will remain so you can continue posting your nonsense in total freedom and with the guarantee that it will not be censored (by me at least, I cannot know what Bitcoin Talk will do, but they haven't touched anything on any of my walls yet). So up to you.
member
Activity: 84
Merit: 10
July 20, 2014, 07:17:31 PM
TOR is a network. Available to anyone. And I DID mention that arcoin is similar to many others already established.

I did not err or forgot, you did NOT have an IRC channel at the time of the writing. Now, way too late for any hope, you do.

As for the "father" of bitcoin being anonymous, that was 5 full years ago. The world has changed significantly. The bar in crypto world has been notoriously raised. Sorry, but you are not up to par and, consequently, about to be extinct.

Think of another scheme, I'm sure you will come back. Hopefully after learning your lesson and having all the basic requirements fulfilled.

And, if you want any hope of success, for your real name and bio on the line.

But who do you think you are?

I ask you, WHO ARE YOU? Give me your name and Bio.

Be careful my friend, you may swallow all your words very soon. We are not sleeping and we have many plans.

I am someone who has taken upon himself the task of uncovering, as soon as possible, schemes and scams to get innocent people out of their money. Like Arcoin. I am not selling anything not expecting or accepting any donations. You, on the other hand, "launched" a coin, which may or may not be a scam, without even the most basic minimal standard requirements. And your goal, like any business, is to get the money of the people straight to your pocket. That has worked fine in the past but you are several months behind and will -hopefully- not work anymore.

I am quite careful and, most definitely, not your friend. But I would be more than happy to "swallow all my words" (well, almost all) if you are able to turn this train wreck around. But you would excuse me if I don't give you the benefit of the doubt. For that, I would need to know who you are and what you are capable of achieving in the world of tech/crypto... none of which seems to be in your "to do" list. 

"I am someone who has taken upon himself the task of uncovering" Sorry, that's not enough, Who are you? Whats your name and your Bio?

You know how many people talk lies on this forum? So, I need to know who you are for your "information" to be relevant to me, and to all of us.

So, you are so smart, that by your logic, if anyone reveals himself, that's where you put your money in? You know how many scams are in the Stock Market, including the penny stock Market, where all the CEOs info is public?

I don't know if you know, but AuroraCoin dev was a public person, all details were available. You know how many people lost money there?

You may have all your owns opinions, but please, a little bit of respect, when you don't even know with who you are talking to.
legendary
Activity: 1162
Merit: 1000
July 20, 2014, 04:40:25 PM
TOR is a network. Available to anyone. And I DID mention that arcoin is similar to many others already established.

I did not err or forgot, you did NOT have an IRC channel at the time of the writing. Now, way too late for any hope, you do.

As for the "father" of bitcoin being anonymous, that was 5 full years ago. The world has changed significantly. The bar in crypto world has been notoriously raised. Sorry, but you are not up to par and, consequently, about to be extinct.

Think of another scheme, I'm sure you will come back. Hopefully after learning your lesson and having all the basic requirements fulfilled.

And, if you want any hope of success, for your real name and bio on the line.

But who do you think you are?

I ask you, WHO ARE YOU? Give me your name and Bio.

Be careful my friend, you may swallow all your words very soon. We are not sleeping and we have many plans.

I am someone who has taken upon himself the task of uncovering, as soon as possible, schemes and scams to get innocent people out of their money. Like Arcoin. I am not selling anything not expecting or accepting any donations. You, on the other hand, "launched" a coin, which may or may not be a scam, without even the most basic minimal standard requirements. And your goal, like any business, is to get the money of the people straight to your pocket. That has worked fine in the past but you are several months behind and will -hopefully- not work anymore.

I am quite careful and, most definitely, not your friend. But I would be more than happy to "swallow all my words" (well, almost all) if you are able to turn this train wreck around. But you would excuse me if I don't give you the benefit of the doubt. For that, I would need to know who you are and what you are capable of achieving in the world of tech/crypto... none of which seems to be in your "to do" list. 
member
Activity: 84
Merit: 10
July 20, 2014, 04:29:29 PM
TOR is a network. Available to anyone. And I DID mention that arcoin is similar to many others already established.

I did not err or forgot, you did NOT have an IRC channel at the time of the writing. Now, way too late for any hope, you do.

As for the "father" of bitcoin being anonymous, that was 5 full years ago. The world has changed significantly. The bar in crypto world has been notoriously raised. Sorry, but you are not up to par and, consequently, about to be extinct.

Think of another scheme, I'm sure you will come back. Hopefully after learning your lesson and having all the basic requirements fulfilled.

And, if you want any hope of success, for your real name and bio on the line.

But who do you think you are?

I ask you, WHO ARE YOU? Give me your name and Bio.

Be careful my friend, you may swallow all your words very soon. We are not sleeping and we have many plans.
legendary
Activity: 1162
Merit: 1000
July 20, 2014, 04:25:39 PM
TOR is a network. Available to anyone. And I DID mention that arcoin is similar to many others already established.

I did not err or forgot, you did NOT have an IRC channel at the time of the writing. Now, way too late for any hope, you do. Now what you don't even seem to have anymore is and ANN here on BitcoinTalk, where the references to a possible scammy pre-mine were posted... RED FLAG.

As for the "father" of bitcoin being anonymous, that was 5 full years ago. The world has changed significantly. The bar in crypto world has been notoriously raised. Sorry, but you are not up to par and, consequently, about to be extinct.

Think of another scheme, I'm sure you will come back. Hopefully after learning your lesson and having all the basic requirements fulfilled.

And, if you want any hope of success, with your real name and bio on the line.
member
Activity: 84
Merit: 10
July 20, 2014, 02:28:29 PM
legendary
Activity: 1162
Merit: 1000
July 20, 2014, 01:46:32 AM
ARCOIN

This one came up 5 days ago. It isn't even worth it to discuss the "features" for it is a typical coin of the ones that come out at still increasingly rate every day. Nothing technicaly different or appealing from the many similar -and superior- already established. But, of course, it has a gimmick: a POS (proof of stake... the other meaning will become apparently soon enough) with a max 1 million coins. 500,000 to start and, presumably, the same amount to support the 5% interest the skating will bring you annually... until the 500,000 is reached. After that... well, who's even thinking here even to the day after tomorrow... it's only the idea of "the (proverbial) long haul" to sell those who don't know better, how to part quickly with their money.

OK, besides the gimmick, this coin has a dev who no one knows and who is anonymous. Since Vericoin and PinkCoin, why on Earth would you invest your hard earned money in a coin of whose developer/s you know absolutely nothing about, when you have those two excellent alternatives -and many others-? Well of course it IS your money and you are free to throw it away any which way you choose but it is the duty of this wall to make you and everyone aware of what's out there. And this is simply shameful.

But it's not only that: Would you open a restaurant with just a few dishes, barely a place to si and full of crap -and shit- all around? Of course not. No one would come in. Not to mention that you wouldn't get a license if you didn't have everything at the ready, spotless, fully inspected and fully working... ah but this is crypto, the land of the crooks, so you can open your restaurant (coin) even if you don't have an IRC channel, not even a website... nothing. Hey, you are in for the "long haul" but in a hurry beyond belief so, since you can, you just open the doors and voila...

The voila is that the coin, initially bought by not the smartest guys in crypto up to over 75k sat, is trading now under 5k, roughly 95% from those initial highs. And with a market cap of less than 30 BTC, you can count this one as gone for all intents and purposes. As a MATTER OF FACT COINS WITH A VERY REDUCED FLOAT, ARE ALL gone or semi-gone, from 42 to 365 and every other one using that same gimmick in between.

This one, as you can corroborate reading their ANN thread, also sports accusations of pre-mine or hidden mine... which the fall in price has made totally irrelevant. True or not, this is not even close to be ready for market and should and will quickly disappear.

OK, after you resist the temptation of "buying low" here, get a look at the new standards: Devs have to be identifiable, with real names and bios out. There's only one valid reason for devs to want to remain anonymous: Not clean intentions. Pure and simple. All the rest of excuses are rubbish. Discard thgem and invest in people who have an identity and a place where they can be reached... as well as some tech -or otherwise- credentials. If the dev cannot offer at the very least this, you simply should not give them your money. Pretty simple. Devs also must be 100% transparent. To the point to let everyone know how much % of the coin they own. This is, BY LAW, obligatory in the real world. BY LAW. Why would you not let know everyone how much of your coin you own? Only one reason: You want to be free to dump it without public scrutiny. NOT ACCEPTABLE. Not anymore. DO NOT accept it. Period.

And finally, if you don't even have an IRC channel and a decent looking website, for god's sake don't even think on launching a new coin. It's SHAMEFUL.
legendary
Activity: 1302
Merit: 1002
July 15, 2014, 05:31:09 PM
MINTPAL:SHAMEFUL

...
Apparently only some $4,000 worth of transactions had happened between the hack/theft and the discovery and subsequent freezing of the receiving wallets 8 million coins so the very limited options left to the developers of VRC were really one alone, as explained here by one of the developers: http://www.cryptocoinsnews.com/news/vericoin-developer-speaks-ccn-mintpal-hardfork/2014/07/15
...
But they rollback ALL transactions after thief not just theft money that they wrote on forum that wrote Mintpal
they warned on forum to not send coins...
Do you belive that all people are sitting on bittalk and looking for dev news 24/7.
here how can number transactions on network not all people are on bittalk mintpal.




At the end VRC broke rule that transactions are irreversible look how POW coin community are winners
because of that VRC wanted save 8m and to not let them dump.
here is 1st better example how POW coins are winners here...
that behaviour shows ignorance of LONG therm consequences of that choice

http://www.reddit.com/r/litecoin/comments/2apsj7/litecoin_developers_will_never_fork_litecoin_to/ciycbhd

LTC BTC community is laughing hard from people who kept 1/3 of all coins in one place just in case to dump it on time...

http://bitinfocharts.com/top-100-richest-vericoin-addresses.html 25% of all VRC still in mintpal wallets not many in real are interested to
take out coins from there... this clearly show how whole 51% attack excuse was pathetic and how many people look what devs/exchange are writing.
All here is about getting rich in no time.

Here you have a bit news how many people IN POS are activly support their networks...
http://bitinfocharts.com/pl/comparison/nodes-ppc-bc-xc-vrc-nvc.html
legendary
Activity: 1162
Merit: 1000
July 15, 2014, 04:32:32 PM
MINTPAL:SHAMEFUL

By now everyone in crypto must know about the "theft" of 8 million VRC in the MintPal Exchange of the early hours of July 14th. As the official version goes, the successful attack of the exchange by  hackers resulted in the seizure of 8 million VRC... and nothing else. Other than the confirmation on the part of the VRC dev team, nothing on the way of proof of such hack/theft has been produced so far. At the time of this writing the dev team has issued a new wallet that actually hard forks the VRC blockchain and leaves the theft/hack as if it never happened, rolling back the transactions to moments before it is supposed to have happened.

It appears that for unexplained -so far- reasons, MintPal kept the 8 million VRC -a quarter of the entire VRC in existence, roughly- in a "hot wallet", instead of a "cold" one as they are supposed to do. Nobody has confirmed or denied it but, other than for staking purposes, it is hard to imagine what other reasons would exist for such unnecessary and risky behavior that greatly facilitated the hack/theft if it indeed happened.

Apparently only some $4,000 worth of transactions had happened between the hack/theft and the discovery and subsequent freezing of the receiving wallets 8 million coins so the very limited options left to the developers of VRC were really one alone, as explained here by one of the developers: http://www.cryptocoinsnews.com/news/vericoin-developer-speaks-ccn-mintpal-hardfork/2014/07/15

The subsequent controversy has gone viral, of course, with all kinds of opinions and predictions raging on with the huge support of the VRC community for their devs' decision and some self-called "purists" condemning to the extent of extreme personal rage, such decision.

I have posted on the VRC thead, several times, that I find their decision both appropriate giving the circumstances, and unavoidable, forced, in fact. And I support it because the damage would have been fatal for VRC and MintPal (this second thing, not a negative one at all) and, perhaps more importantly, the damage to crypto in general and the many traders who have funds at MintPal, would have been enormous.

That said -again- I do find preposterous that MintPal is getting scot free from this censurable, terrible, impossible to justify whole shebang. The exchange is fully responsible and bound to warrant the safety of it's customers deposits. It is SHAMEFUL that they were put at risk for whatever -or none at all- reason, much less if it was for the purpose of benefit from staking, a benefit that they would not give back to the owners of the coins. They will pay for the minimal damages some have suffered as a consequence of the "hack/theft" and back to business as usual... Quite unfair -and shameful- indeed.

Costly in time as it would have been, I believe the normal course of action should have been to freeze the stolen coins, the banning of the two wallets which contained them forever and that MintPal would have been forced to pay the owners for the stolen coins. It was their fault, completely, so they should be responsible for the restitution... at least. Of course, that would have bankrupted Mintpal and the traders/investors would have been left dry, so those traders/investors are the second winners in the fiasco... some say unfairly for it is their responsibility to deposit their funds on exchanges that hold them secure... or risk the consequences. A valid argument, indeed. One that would have resulted, in fact, with the numbers of total VRC reduced by 8 million and, theoretically, a 20%+ increase in price of the remaining coins (and a 20% richer dev team, lets not forget that).

The good guys that the trio of devs of VRC are, opted (were forced) to take the only alternative that preserved the coin AND the the investors/traders who owned those 8 million VRC. The other two options were deemed unacceptable. I believe it was a good decision. But it was one that in actuality saved MintPal at no cost and for no benefit. And that is unfair. Mintpal's behavior, once again, was shameful. They should be accountable for it. And, as it is, I hope that most people who have funds deposited there move them to safer environments and that Mintpal actually dies a quick death for, besides the crooks, they are the bad guys here.

One more note and a couple troubling questions: MintPal must show unquestionable proof that the "hack/theft" indeed happened and that this is not an inside job... it should have made public that evidence long ago, actually, but it seems the shameful behavior of that exchange goes way farther than just the negligence that caused the supposed "hack/theft".

And the questions: We know that on July 6 a single wallet -that I am convinced is controlled by the Black Hand- had 4.5 million VRC. I also believe that is why the well known Black Hand operative, "Mr. You soy Boricua Pa que Tu lo Sepas" is "generously" supporting VRC to the point of writing "five figures ($) checks" without asking anything in return, promising promotions of mass media proportions and imminent red-carpet events with world celebrities attending. There's no other logical explanation... the question is: Was any of those 8 million VRC "stolen" owned or controlled by the Black Hand and the hand (no pun intended) of the devs was somehow forced even more by that circumstance? I guess we'll be forced to speculate on that one from  now on...

For now at least, the SHAME will fall squarely on the obvious culprit -apart from the hacker if one or more did indeed do this-. But the full truth may have several other implications.

The other obvious question: Why was only the VRC wallet attacked? One would assume that if they had the VRCs on a hot wallet, whatever the purpose or reason for it, they would also have other coins in hot wallets too? Why, again, VRC and ONLY VRC?
 
legendary
Activity: 1302
Merit: 1002
June 27, 2014, 08:19:52 PM
...

As posted above, all conjecture has been fully confirmed: The Black Hand is now part and parcel of Vericoin.

If you see hard pump in 5days coin goes 3x-10x and close to 5m market cap?
You don't need to be genius to see what will happened next.
Only crypto noobs or retards will buy now (as investment) price will be corrected to market value and those idiots who bough market ponzi on top they will be bernerd hard.

Educative game to all those market moments:
theblackdogeofwallstreet.com
http://www.youtube.com/watch?v=Ehcs4qg09Co

- just lenr to play ponzi games in crypto.
If you want invest invest in depths not on pumps...
And you will be smarter than 80% greedy people.
full member
Activity: 139
Merit: 103
June 27, 2014, 08:16:08 PM
Quote
The Black Hand has used the exact same footprint and "modus operandi" already in Vericoin as they used -and continue using- in Blackcoin

Could you kindly lay out this "footprint" and/or "modus operandi" like in a chart or drawing or so? I would be interested in seeing it in b/w. Maybe you could cross-reference it to chart movements and massive dumps/humps. I'm sure the community would appreciate it.
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