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Topic: Which is the best scam? (Read 2995 times)
Orbitcoin and Realcoin added too
One of the first biggest scams was OrbitCoin, launched about one year ago. Due to flawed (or malicious) math It was premined so hard, that it would take few centuries to mine rest coins (about 10%). Instead of dev to admit math is bad and relaunch with new parameters, he slowly dump premine while persuading others that everything is OK and they can´t count. BCT ann was here https://bitcointalksearch.org/topic/remove-thread-265555 but its heavyly censored / deleted. I wonder how this coin still can be alive...
It was so bad that everyone flipped out on cryptsy chat mid-last year that Cryptsy removed it an hour or two after adding it to the exchange..
People were PISSED FUCKING OFF !
And THAT is your intelligence of Cryptsy right there LOL
Wanna hear the funny part ?
many months after the fact when Crypto exploded in popularity i noticed Cryptsy re-added ORB silently when no one was looking mid-December 2013
Oh Cryptsy your ohhhhh soooooo reputable
Aurora and DarkCoin.
I would have voted overkillcoin but those faggots didn't release! They are clearly keeping all the coins for themselves making them fabulously rich!!!1!
You do mean : Which is the WORST scam coin, don't you?
If you are looking for the best, i gotta give it to the ripoff coin. Amazing team there with a great sense of humor. The worst in my opinion are Stellar (For their shitty security and huge pre-mine), number 2 would be etherium in my book.
If you are looking for the best, i gotta give it to the ripoff coin. Amazing team there with a great sense of humor. The worst in my opinion are Stellar (For their shitty security and huge pre-mine), number 2 would be etherium in my book.
Scam? Biggest scam is pandacoin, wulong pump and dump....
One of the first biggest scams was OrbitCoin, launched about one year ago. Due to flawed (or malicious) math It was premined so hard, that it would take few centuries to mine rest coins (about 10%). Instead of dev to admit math is bad and relaunch with new parameters, he slowly dump premine while persuading others that everything is OK and they can´t count. BCT ann was here https://bitcointalksearch.org/topic/remove-thread-265555 but its heavyly censored / deleted. I wonder how this coin still can be alive...
Objective signs of a shitcoin (that includes crapcoins and scamcoins):
- constantly falling price sans the occasional, well-coordinated pump (after which it falls to or below pre-pump levels)
- broken wallet or blockchain that isn't getting fixed
- the dev has been associated with other verified shitcoins
- ... feel free to add to this list, lets discuss for the sake of research
- constantly falling price sans the occasional, well-coordinated pump (after which it falls to or below pre-pump levels)
- broken wallet or blockchain that isn't getting fixed
- the dev has been associated with other verified shitcoins
- ... feel free to add to this list, lets discuss for the sake of research
I'd add:
- any coin with an IPO, a premine, an instamine, a ninjamine (except for instances where it is outside of the developer's control or influence - cbuchner1 heavily mining BBR comes to mind, it's not their fault that he has the ability to develop a fast GPU miner)
- closed source with vague hand-wavy promises of future open source (except, perhaps, for edge cases where a binary is released for general testing on testnet, anything on mainnet should be open-sourced immediately)
- any coin with a whitepaper completely devoid of cryptographic soundness and mathematical proofs
actually a coin from last year would beat all of these hands down.. it had a virus in the wallet on launch LOL
topic was locked and it was moved etc..
but before that many of the greedy regulars got infected and it had a keylogger in it that stole other wallets..
i'd say that is pretty damn bad and older than all those coins in the list.
i can't recall it's name but it was some type weed gimmick coin with a pot leaf icon.
and the User Magnet admitted here he got hit with it and others..
topic was locked and it was moved etc..
but before that many of the greedy regulars got infected and it had a keylogger in it that stole other wallets..
i'd say that is pretty damn bad and older than all those coins in the list.
i can't recall it's name but it was some type weed gimmick coin with a pot leaf icon.
and the User Magnet admitted here he got hit with it and others..
Was it dafuq coin?
Unmoderated IRC Troll Show Down - Come-from-Above vs Spoetnik - August 25th 2014 Freenode channel: #TrollBattles
Love it.
actually a coin from last year would beat all of these hands down.. it had a virus in the wallet on launch LOL
topic was locked and it was moved etc..
but before that many of the greedy regulars got infected and it had a keylogger in it that stole other wallets..
i'd say that is pretty damn bad and older than all those coins in the list.
i can't recall it's name but it was some type weed gimmick coin with a pot leaf icon.
and the User Magnet admitted here he got hit with it and others..
oh and Jackpot coin is no different than Bitcoin in any negative way and better in positive ways
Some negatives ?
it was premined but unlike Bitcoin the premine was all mostly handed it to bounties (see ANN topic for who got what)
So unlike Bitcoin the premine is in the wild already vs. Bitcoin where it could be dumped at any time on the world !
JPC Flash mined ? no worse than Bitcoin or most any other coin..
Some positives ?
- JPC has it's own more efficient hashing algo titled "JHA" which is an x5 algo of sorts.
Which means it uses less wasted pointless hashing compared to other coins such as ANY x11 or x13 coin !
Keeping your hardware far cooler
- It has had effective CPU mining and was fair on launch with CPU's being very useful and including nvidia miners as well as AMD miners.
I could go on and on about how great it is actually such as the constant support and updates etc
Guys should check their facts.. [ANN][JPC]JackpotCoin 1.5#Unique Algo#Ultra Fast Trans#1st True PoW/PoS Hybrid
A new update came out only hours ago..
..guys were winning jackpots worth up to $30,000 and getting paid !
While mining.. while staking.. while trading.. while winning jackpots !
Putting this coin on this list is just straight Trolling to be an asshole i think.
INFO
SPECIFICATIONS
topic was locked and it was moved etc..
but before that many of the greedy regulars got infected and it had a keylogger in it that stole other wallets..
i'd say that is pretty damn bad and older than all those coins in the list.
i can't recall it's name but it was some type weed gimmick coin with a pot leaf icon.
and the User Magnet admitted here he got hit with it and others..
oh and Jackpot coin is no different than Bitcoin in any negative way and better in positive ways
Some negatives ?
it was premined but unlike Bitcoin the premine was all mostly handed it to bounties (see ANN topic for who got what)
So unlike Bitcoin the premine is in the wild already vs. Bitcoin where it could be dumped at any time on the world !
JPC Flash mined ? no worse than Bitcoin or most any other coin..
Some positives ?
- JPC has it's own more efficient hashing algo titled "JHA" which is an x5 algo of sorts.
Which means it uses less wasted pointless hashing compared to other coins such as ANY x11 or x13 coin !
Keeping your hardware far cooler
- It has had effective CPU mining and was fair on launch with CPU's being very useful and including nvidia miners as well as AMD miners.
I could go on and on about how great it is actually such as the constant support and updates etc
Guys should check their facts.. [ANN][JPC]JackpotCoin 1.5#Unique Algo#Ultra Fast Trans#1st True PoW/PoS Hybrid
A new update came out only hours ago..
..guys were winning jackpots worth up to $30,000 and getting paid !
While mining.. while staking.. while trading.. while winning jackpots !
Putting this coin on this list is just straight Trolling to be an asshole i think.
INFO
Quote
Jackpotcoin (JPC) is an innovative and secure alternative to Bitcoin introducing the first independently hybrid PoW/PoS structure
with the efficient JHA hash algorithm and true random Superblocks. Jackpotcoin is the first cryptocurrency to seamlessly incorporate both features enabling lightning fast transaction speeds with an added constant layer of security for the network to combat any potential 51% attacks.
Implementing the separate PoW and PoS technologies was a feature unobtainable by the previous wave of PoW/PoS coins and allows the generation of PoS interest without affecting the PoW mining protocol because of the independent, alternating systems. Instead of stopping PoW after a few days and forking to full PoS, we’re able to maintain a shorter PoS block time to enable lightning fast transaction speed (under 5 seconds) by rapidly accelerating confirmation times without affecting the PoW blocks. In addition, the network has a constant layer of added security by modeling the coin in this manner.
Lastly, the randomized superblock payout (Jackpot) structure is unable to be exploited because the “winning” payout is confirmed by the following block. In effect, there is zero indication prior to awarding the payout which eliminates any potential discrepancies. (i.e. Multi-pools ability to select largest payouts)
with the efficient JHA hash algorithm and true random Superblocks. Jackpotcoin is the first cryptocurrency to seamlessly incorporate both features enabling lightning fast transaction speeds with an added constant layer of security for the network to combat any potential 51% attacks.
Implementing the separate PoW and PoS technologies was a feature unobtainable by the previous wave of PoW/PoS coins and allows the generation of PoS interest without affecting the PoW mining protocol because of the independent, alternating systems. Instead of stopping PoW after a few days and forking to full PoS, we’re able to maintain a shorter PoS block time to enable lightning fast transaction speed (under 5 seconds) by rapidly accelerating confirmation times without affecting the PoW blocks. In addition, the network has a constant layer of added security by modeling the coin in this manner.
Lastly, the randomized superblock payout (Jackpot) structure is unable to be exploited because the “winning” payout is confirmed by the following block. In effect, there is zero indication prior to awarding the payout which eliminates any potential discrepancies. (i.e. Multi-pools ability to select largest payouts)
SPECIFICATIONS
Quote
JackpotCoin
JPC
- PoW/PoS independent
- 3 transaction confirmations - average less than 1 min confirmation
- 70 minted block confirmations
- Total coins will be approximately 30 billions.
PoW:
- Jackpot Hash Algorithm (JHA - a variation of SHA-3 algorithm)
- Minable by both CPU and GPU, both CPU miner and GPU miner are provided
- 120 sec block target
- diff retarget each block
- Initial payout will be 100000 coins per block
- True random superblock
- Superblock payout (aka the jackpot) will starts at 10X normal block payout, and grows parabolically when the distance with last superblock increases. The average interval between superblocks will be 3.5 days. The payout starts at 10X normal payout, grows to 100X at 3.5 days, and then grows to 1000X at 7 days (if the superblock not triggered). After 7 days, the payout will stay at 1000X, but at the end of the 8th day if still no superblock is triggered by the random number, the system will gradually increase the chance for a superblock until a 1000x superblock is triggered.
- block payout will be reduced 10% each week (will be halved at approximately each 7 weeks).
- minimum payout for PoW will be 1 coin/block (will be reached after 2+ years)
PoS:
- 20 sec block target
- diff retarget each block
- PoS daily interest payout initially at 0.1% per day (equivalent to 44% annual interest rate), gradually dropping down to 0.01% per day (equivalent to 3.7% annual rate), the decrease will be over a period of 5 years (rate adjusted each 3 months). Then it will stay at this rate.
- minimum holding time before the pos will be generated: 1 day.
- max accumulated coin-day is 30 days (after 30 days, only the 30-day coin-day will be counted).
1% premine to cover development costs (website, server, development), code maintenance/enhancements, bounties, shops/games, faucets/giveaways etc.
JPC
- PoW/PoS independent
- 3 transaction confirmations - average less than 1 min confirmation
- 70 minted block confirmations
- Total coins will be approximately 30 billions.
PoW:
- Jackpot Hash Algorithm (JHA - a variation of SHA-3 algorithm)
- Minable by both CPU and GPU, both CPU miner and GPU miner are provided
- 120 sec block target
- diff retarget each block
- Initial payout will be 100000 coins per block
- True random superblock
- Superblock payout (aka the jackpot) will starts at 10X normal block payout, and grows parabolically when the distance with last superblock increases. The average interval between superblocks will be 3.5 days. The payout starts at 10X normal payout, grows to 100X at 3.5 days, and then grows to 1000X at 7 days (if the superblock not triggered). After 7 days, the payout will stay at 1000X, but at the end of the 8th day if still no superblock is triggered by the random number, the system will gradually increase the chance for a superblock until a 1000x superblock is triggered.
- block payout will be reduced 10% each week (will be halved at approximately each 7 weeks).
- minimum payout for PoW will be 1 coin/block (will be reached after 2+ years)
PoS:
- 20 sec block target
- diff retarget each block
- PoS daily interest payout initially at 0.1% per day (equivalent to 44% annual interest rate), gradually dropping down to 0.01% per day (equivalent to 3.7% annual rate), the decrease will be over a period of 5 years (rate adjusted each 3 months). Then it will stay at this rate.
- minimum holding time before the pos will be generated: 1 day.
- max accumulated coin-day is 30 days (after 30 days, only the 30-day coin-day will be counted).
1% premine to cover development costs (website, server, development), code maintenance/enhancements, bounties, shops/games, faucets/giveaways etc.
that's the wrong panda coin..
//
but i cant go past secret blocks
love that shit
//
but i cant go past secret blocks
love that shit I say rip off coin. lol
I second RipOffCoin!
XC the top hype ever witnessed
I say rip off coin. lol
Lol, what is this? There is a mixture of legit, scam, and trash coins in the choices.
That's the thing about subjectivity and objectivity... Even objective measurements are subjective to personal interpretation.
For instance, any coin is awesome if you buy it low and sell it high. That's an objective measurement of increased personal wealth. If someone else buys the same coin at the top and sells it low, they might think that coin is a scam.
(eventually you learn that everybody's wrong pretty much half the time or more - most people who tell you otherwise are running a con which is how they continue to beat the odds)
But my main subjective factor when deciding if a coin is a scam is how many comments in the thread are basically people praying for their money to come back. I know, its highly subjective but it usually involves a lot of anger and resentment, discussing the prospects of a community takeover, where has the dev gone and last but not least, broken promises.
Objective signs of a shitcoin (that includes crapcoins and scamcoins):
- constantly falling price sans the occasional, well-coordinated pump (after which it falls to or below pre-pump levels)
- broken wallet or blockchain that isn't getting fixed
- the dev has been associated with other verified shitcoins
- ... feel free to add to this list, lets discuss for the sake of research
I find it difficult to choose from the list because each of them have their own unique way to deceive investors.
I wanted to argue with this but I can't. You're exactly right. Its kind of exactly what the stock market is, except I'd rather channel the money to people innovating this kind of technology instead of corporate maneuvering, hopefully at least some of it gets into some good hands.
The one that raised the most bitcoin is the best scam.
Ethereum is currently the one that raised the most bitcoin.
Ethereum is currently the one that raised the most bitcoin.
I find it difficult to choose from the list because each of them have their own unique way to deceive investors.
Lol, what is this? There is a mixture of legit, scam, and trash coins in the choices.
Add PseudoCash to the list! The "dev" is just another marketer. Anonymity feature doesn't work, it's 100% scam and he is already trying to release another coin because he failed at his scam.
https://bitcointalksearch.org/topic/pseudocashpseudrare-22-mil-coinsanon-currency-676343
Edit: Need a failed scam coin list LMAO!
https://bitcointalksearch.org/topic/pseudocashpseudrare-22-mil-coinsanon-currency-676343
Edit: Need a failed scam coin list LMAO!
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