Topic: Which coins are the BIGGEST SCAM COINS from this last wave?? - tell us here. (Read 2840 times)

Well, he's been spreading FUD on Premine in several different topics now. I think annpaol simply doesn't understand the concept - to him, "100% premine" is equivalent to "total scam". I kind of understand the sentiment, with all those 80%+-premined coins, but this is a different story.

Ok, i have asked him to edit his comments , they will be removed unless there can be some back up in a short time. Let's give it a few hours. Then i remove that comment.

We need people to come with evidence before mentioning coin as a scam since we don't want to unfairly label a coin a scam if it is not.

IF YOU WANT TO LABEL A COIN A SCAM, IT IS DOWN TO YOU TO PROVIDE HARD EVIDENCE OF THE SCAM - NOT FOR THE COIN TO DEFEND ITSELF.AGAINST JUST AN ACCUSATION.

DAMN I THOUGHT I MADE THIS A SELF MODERATED THREAD TO REMOVE ACCUSATIONS WITHOUT EVIDENCE....I WILL LOCK THIS AND START IT AGAIN..



THREAD LOCKED GO HERE

https://bitcointalksearch.org/topic/which-are-the-biggest-scams-from-this-last-wave-of-coins-add-them-here-485106

Because you are incapable of using other words!

You can consider the block explorer to be one. We've been monitoring the distribution from the very early days, and haven't really found anything unfair.

Sounds interesting, not really looked at marinecoin before.  Anyone else can comment on this too?  hard evidence of scamming here?

Visacoin - exactly that rotten scamp!! forgot them adding to the OP. I guess nothing can be done now but still was the first total outright scam nobody could argue about.

MarineCoin : %97 mined,  5 fake accounts.
Visacoin : No need to words. Runaway with 100+ BTC
Pandacoin : %3 Premined, PND price is reduced to 3 satoshi from 77 satoshi(or listoshi, I dont remember). This is robbery. Poor miners..
Stackcoin : Funny : https://bitcointalksearch.org/topic/m.5302833
Also a lot of coin wiht IPO.

My favorites : Marinecoin and Stackcoin.

Please edit your post. We need evidence of that coin being a scam. I agree that coin should have had a full public ledger.

However consider that coin has only a 500k minting.  I entered the thread at a very late stage i'm not sure where perhaps even page 100.

I simply asked for some coins and was given over a period of time in little drips here and there over 100 coins that is still all i have of that right now.

Consider by the time i asked for some it was already being traded, and still people were giving out lot of coins for free.

We do not know i guess the full amount given out and whom it went to. It could be a scam..... however we need more evidence before branding it a full scam coin.

Personally i feel it was a great idea....but needs tighter rules if done again in future.

We need to not litter this thread with ideas it could be a scam. We need to come here with full evidence of a scam and we will name and shame it here hopefully before it gets off the ground.

I am not here to judge , let's make it an open conversation so a rational decision can be made by the community on whether a coin is a scam or not.

If you come back with some real evidence the coin was a scam we will add it to the scam list if not please edit your post to say possible scam and some deeper analysis.

We need to brand REAL scam coins as scams and not dilute it with possible scams which really are most of the coins from this wave.  We need to kill the hardcore scams first.

Okay let's present the facts explaining why mincoin is a scam. People especially new people need to understand how they are getting scammed.

I have not really looked at that coin before. Is it from this new wave? Because really scams that have already played past the critical point and have become established with communities formed are very hard to break, in most of the older coins the scam has played out. Essentially they have got a way with it. It is now impossible to hold accountable the original scammers and they on some of the older scams have left with a lot of BTC. The new holders of the coins are most victims and bag holders.

Be great to use this thread or a thread like it to warn of Impending scams or scams in the early stages where the scammers are yet to cash out. Prevention is the best way with these things.

Premine 100% premined, no other words https://bitcointalksearch.org/topic/ann-pmc-premine-coin-rare-mining-transaction-fee-proof-of-concept-427519
 

Mincoin

OK but let's stick to scams conducted here so we can try and tackle them.

USD!

thanks, yes also there are a lot of people in that appcoin thread angry about the scam, the first 10-15 pages are riddled with complaints of scamming. We need to pm them to support this thread and highligh how bad that scam is shaping up to be.

Also let's try to spot new scams/possible scams and add them here as quickly as we can before people get sucked in.

support, and will enlist some of them myself. you missed a lot about that first coin. I have some other methods though, they failed in my book as well.

edit: 

The only problem with a poll is this

1. the scammers get to vote themselves and yes there are teams of them involved, people do not realise how large some of these scams are.

2. a lot of new people do not see the scam because they do not understand how the scam works.

However just a thread like this or started by someone else that keeps to the FACTS and illustrates the scam to people and explains it to them can help them avoid being scammed.

Let's not offer up opinion on this thread - rather let us talk in terms of hard maths here when discussing the latest wave of scam coins.
Let's really identify the biggest scam coins and highlight them to people on this board so they can avoid getting scammed.

This is not a place to pump the coins you own. This is a thread that will show up the biggest scam coins and help others avoid them. You must provide reason and logic behind your post because else we will not be able to identify scams. You can't just say i hate a certain coin without reason and math to show WHY it is a scam.  What is a scam?? well it is a method employed by the dev and his team to give them UNFAIR advantage over normal miners/investors in an extreme way.  

The old waves of scam coins have gone now we can not do anything to stop those people that whom have already been scammed months previously, and there have been a few bad ones.... however some of these newers scam coins are even worse..

These are not essential in order of magnitude of scam... since people are adding scam coins to the list it would be tough to say which extracted the most BTC from the community.



1. APPCOIN - this coin is by far shaping up to be the biggest scam yet.... yes i do believe it is worse than stackcoin and thepandacoin.

At first glance to some people who really don't understand crypto this coin looks nowhere near as bad as thepandacoin ...

However - it is a more stealthy scam that is actually a bigger scam than pandacoin. But it is sneaky.

They have created a coin that has false scarcity to try and drive up the price of this coin.  The coin itself has one of the worst designs of any coin so far on this wave.

1. they premined 0.9%  - that doesn't look too bad right ...looks quite fair  NO because the block times are 12 minutes long and the block rewards even then are small. So that 0.9% will be a really HUGE percentage of the minting for a very LONG time. Their plan is to make it a very HUGE percentage until it hits exchanges. So there will be no people around with many coins to dump except them right.

this poster in the appcoin thread seems to have realised the scam

"4mh/s  only get 10,000

0.9% premine 129,000,000

if 10,000 worth 0.05btc,then 129,000,000 worth 645btc

is it fair?

3600/720*24*36,000=4,320,000 the whole network per day

129,000,000/4,320,000=29.86

that is to say, after 30days, the premine coins also accounting for over 50 percentage！

is it fair?"


That's right folks, so by NORMAL mining profit on other coins appcoin devs are trying to say they have pressed copy and paste for 645 BTC   nice scam hey they must be satisfied with that loot. Also because the coin is going to be rare for everyone else because with 12 min block times and massive diff they drove up with in mins of launch....nobody can stop them dumping because they will be the only ones that have a huge amount of coins to dump so they will control the entire market.


However their greed and scamming does not stop there.


I have noticed on other launches that devs and fellow scammers (probably part of the scam team) are instamining the shit out of coins before anyone else can even download, virus scan and set up the conf file , sync the qt, then get your bat file ready for mining.

So i started asking devs to upload the wallets in pass protected rars so this instamining period was reduced to a min or 2 instead of 5 + mins.

Most devs say yes no problem (the non scammers)  however appcoin dev although talking on the thread ignored many requests to do this...........why???

It is simple why because remember how i said the blocks were on a 12 min target. Well not in the instamining period, they also deliberately made the diff retarget 120 blocks long but then the diff has a very harsh retarget.

So even though others managed to download , and do all the other stuff to sync up and start mining as fast as possible, they noticed hang on THERE ARE ALREADY 100'S OF BLOCKS mined already?? yes hundreds in minutes.... but then guess what happens.....the diff shoots up as soon as normal miners get there and the blocks come in VERY slowly.

You can be sure that later the diff adjust will be changed...why because the diff retarget was only left like it was in order for some additional instamining, they will change that diff adjust now they no longer need it to be 120 blocks.

This is a planned and perfectly executed scam. A lot of people are in on it ....they must be because i can't believe there are that many dumb people to support such a scam.

This is shaping up worse than thepandacoin.....


2. Stackcoin - an obvious scammer. I called him out asking if this wallet was just a mock up jpg. Asked for the qt ahead of time.... another scammer who ignored the question several times whilst talking about the bonus ipo

First rule about ipo - NEVER DO IPO unless they do escrow or unless a very long term member of this board. Even then there is no reason for them not to do escrow.


3. Thepandacoin - well the person you were dealing with is a known scammer. I noticed it at 80 sat and started telling people then wtf this is a total scam waiting to implode, nobody could pump the btc in to keep it at that level. I see it has gone down quite a bit since then.

4. visacoin - well enough said really.... scam of scams..... unless the guy really did get hit by a bus since apparently the BTC pot is there untouched.... guess he could come out from coma in a year and create the next big thing.





Please add coins yourselves............. HOWEVER ONLY LIST COINS THAT ARE REALLY SCAMS THAT YOU CAN BACK UP WITH REASON AND MATH TO ILLUSTRATE YOUR POINT.

I CAN'T UPDATE THIS OP MUCH... SO PLEASE IF YOU ARE NEW TO THE THREAD READ THE ENTIRE THREAD FOR SCAM WARNINGS AND MAKE UP YOUR OWN MIND.

IF YOU ARE LISTING A COIN AS A SCAM COIN PRESENT FULL EVIDENCE OR ELSE THERE IS NO POINT MENTIONING IT. PEOPLE WANT TO KNOW WHY AND HOW IT WAS A SCAM... NOT JUST COINS WE DON'T LIKE.