Quote from: R0mi on July 06, 2018, 04:17:38 AM

Quote from: MagicSmoker on July 05, 2018, 06:11:39 PM

Quote from: R0mi on July 05, 2018, 05:08:31 PM

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But wait, there's more! WTC also seems to involve a multi-level marketing scheme adapted to MasterNodes, with side nodes and GrandMaster nodes...

If they make GrandMaster Flash nodes available then sign me up!

I really just wanted to say thanks for the analysis. I ran across this coin earlier while hunting the infamous, and not at all scarce, haiku bot and thought the idea was idiotic, and also noticed the lack of information on how to mine it. So, excellent work.

Also, that site in your sig is hilarious!

Thanks. I've wasted about half the day trying to figure this one out. There is a ton of money invested in this one and a serious, serious PR/Marketing effort going on. I downloaded their latest Windows wallet from GitHub today and, wow -- what a pos from a $250 million market cap company with about 50 IEEE/software/blockchain/IOT geniuses on its team. The wallet mines using one of your GPUs. That's right, just one. Meanwhile, over on the YouTubes, it is apparent that those in know have figured out a way around this and have been mining the living cr*p out of this coin for the past three months. When you ask why the current Windows wallet is a hobbled piece of ...., the reply is "to promote decentralization." Ah, I see, that explains everything. Decentralization, sure, sure. But I'm sure Walton Coin will have another glorious pamp before it eventually implodes and the rascals scurry off. And so it goes. Pootie tweet!

You echo my own thoughts. The way they handled mining on WTC just screamed "scam" . I mean you want a lot of hashpower so you won't be easily attacked, but then you limit mining as hard as possible for the general public? WTF? well 2 scenarios how this plays out:
1.You have your own private software and you controll 90% of the hashrate, while public hashes at 25kh/s or whatever the wallet says
2.Someone with knowledge and hashrate is gonna build a miner and take over the network, already happened.

If you look at the WTC "community"/subreddit it's mostly made up of moonboys from dec 17, most have no clue how mining works, or what goal it serves, so this wouldn't eaxctly be hard to pull off.