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I posted this in the other thread,
After reading this (http://pastebin.com/VYpQ5CWA) I think I have a pretty good idea what this Ryan guy is trying to do.
From everything that I got he was interested in developing a payment system/atm system similar to paypal for crypto currencies. A few things stuck out to me when I read the conversations.
1) Payment system (moo pay or w/e you wanna call it at this point)
2) ATM Machines
3) Copy of Bitcoin made in another language (red flag)
From my experience in technology and business this is my take on what he has done and is trying to do in the future. What reason would someone need a clone of Bitcoin? Especially if they are running a payment company? This is a huge red flag. It looks like he is trying to setup a fraudulent payment company where people buy fake BTC that exist only in this payment system. Any BTC or $ that is transferred into the system gets deposited directly into his pocket and the victim is given a fake balance that only is reflected in the payment system. Wouldn't people be able to tell? If done right not at all. If a payment is made from one account to another that use the same payment system then its virtually undetectable. If someone makes a payment to a real BTC address then that is paid out legitimately as to go undetected same with withdrawals. Eventually if the company grows big enough more and more of the BTC will be logged in the fake BTC system while all the real BTC has been taken out (stolen).
This is a very complex con, similar to a bank to a degree.
I believe the mintpal transition was a test run if not a complete switch over to a fake BTC system. This would explain why people have balances but can't withdrawal them. The mintpal transition should have realistically only taken a few hours not days which would explain that there were probably bugs in the fake system that had to be addressed.
My warning would be to be very cautious about any new payment systems of any sorts popping up within the next year. It will more than likely be him implementing above plan.
After reading this (http://pastebin.com/VYpQ5CWA) I think I have a pretty good idea what this Ryan guy is trying to do.
From everything that I got he was interested in developing a payment system/atm system similar to paypal for crypto currencies. A few things stuck out to me when I read the conversations.
1) Payment system (moo pay or w/e you wanna call it at this point)
2) ATM Machines
3) Copy of Bitcoin made in another language (red flag)
From my experience in technology and business this is my take on what he has done and is trying to do in the future. What reason would someone need a clone of Bitcoin? Especially if they are running a payment company? This is a huge red flag. It looks like he is trying to setup a fraudulent payment company where people buy fake BTC that exist only in this payment system. Any BTC or $ that is transferred into the system gets deposited directly into his pocket and the victim is given a fake balance that only is reflected in the payment system. Wouldn't people be able to tell? If done right not at all. If a payment is made from one account to another that use the same payment system then its virtually undetectable. If someone makes a payment to a real BTC address then that is paid out legitimately as to go undetected same with withdrawals. Eventually if the company grows big enough more and more of the BTC will be logged in the fake BTC system while all the real BTC has been taken out (stolen).
This is a very complex con, similar to a bank to a degree.
I believe the mintpal transition was a test run if not a complete switch over to a fake BTC system. This would explain why people have balances but can't withdrawal them. The mintpal transition should have realistically only taken a few hours not days which would explain that there were probably bugs in the fake system that had to be addressed.
My warning would be to be very cautious about any new payment systems of any sorts popping up within the next year. It will more than likely be him implementing above plan.
Re: [ANN] (WC) | WhiteCoin | BIG NEWS: Foundation, investors & more ☯ whitecoin.info
XAL? Really... you might as well name it any random combination of letters at that point. Try WIC, WHI, WCO, etc. Keep the main identifying factor in the abbreviation.
Re: [PRE-ANN] - The WhiteCoin Foundation - Community Planning & Discussion
Morning everyone, I would like to see some thoughts about one of my ideas for WhiteCoin.
*Focus on Energy Efficiency and Organic Goods
I find that this could benefit everyone that become part of WhiteCoin community by simply
promoting/sponsoring these types of examples.
*Target Organic Food merchants willing to accept nothing but WhiteCoin as payment.
-Sponsor an event that promotes clean and healthy living at a family oriented type environment.
-Must be announced way ahead of time and widely known in order to give potential investors enough
time to accumulate.
-Target merchants that are not very well known and help expose them by sponsoring their upcoming
businesses.
-Each merchant must pass a test to prove that their products are 100% organic and have high quality
customer service.
-Must have a WhiteCoin ATM provided nearby with a staff member to help explain how it can be used
and what the coin is about for those who came unprepared or unaware of Cryptocurrencies.
-Provide merchants with gadgets that automatically distributes the coins between the merchant and
the foundation.
---------------------------------------------------------------------------------------------------
*Help fund patents for innovations that promotes and improves green living with an agreement of
profit shares in return towards WC investors.
*Release an official WhiteCoin Marketplace that carries Energy Efficient Supplies and Organic Goods.
Products:
Apparel/Fabics
CookBooks/Magazines
Foods & Beverages
Vitamins
Cleaning Supplies
Gardening Supplies
Eco Furnitures
Miscellaneous...
You get the idea.
---------------------------------------------------------------------------------------------------
As some of you may know, green energy is not always seen on the positive side. It has its downfalls like any others. This is why we should help focus on improving them.
*Focus on Energy Efficiency and Organic Goods
I find that this could benefit everyone that become part of WhiteCoin community by simply
promoting/sponsoring these types of examples.
*Target Organic Food merchants willing to accept nothing but WhiteCoin as payment.
-Sponsor an event that promotes clean and healthy living at a family oriented type environment.
-Must be announced way ahead of time and widely known in order to give potential investors enough
time to accumulate.
-Target merchants that are not very well known and help expose them by sponsoring their upcoming
businesses.
-Each merchant must pass a test to prove that their products are 100% organic and have high quality
customer service.
-Must have a WhiteCoin ATM provided nearby with a staff member to help explain how it can be used
and what the coin is about for those who came unprepared or unaware of Cryptocurrencies.
-Provide merchants with gadgets that automatically distributes the coins between the merchant and
the foundation.
---------------------------------------------------------------------------------------------------
*Help fund patents for innovations that promotes and improves green living with an agreement of
profit shares in return towards WC investors.
*Release an official WhiteCoin Marketplace that carries Energy Efficient Supplies and Organic Goods.
Products:
Apparel/Fabics
CookBooks/Magazines
Foods & Beverages
Vitamins
Cleaning Supplies
Gardening Supplies
Eco Furnitures
Miscellaneous...
You get the idea.
---------------------------------------------------------------------------------------------------
As some of you may know, green energy is not always seen on the positive side. It has its downfalls like any others. This is why we should help focus on improving them.
Good idea but there are already other green coins out there that focus on those things, look at mint when it first came out. Whitecoin ATM's? Look lets be realistic here, we don't even have the updated wallet on our website/thread. Limiting your already limited market is a bad idea and isn't gonna get us out of this mess. I vote against it.
BC pumpimg up now.
That's probably just BlackcoinPool buying BC.
Multipool buys coins once every 24hrs and its usually at late evening
See those round sell numbers? That's a whale trying to exit the market with 1million + coins.
This will take days. And let's hope there's only one.
Price stabilising around 20k for a few days will make me bullish if we still have a good mining pool and trading volume. Stay tuned.
This will take days. And let's hope there's only one.
Price stabilising around 20k for a few days will make me bullish if we still have a good mining pool and trading volume. Stay tuned.
I think we're dealing with 2-3 whales on mint and 3+ on Crapsy
I'm expecting the price to settle around 9000-11000 satoshi
Once bids build back up ill bet the whale will dump. Until then he will keep manipulating the current price
let the whale sell. it's healthy for the coin. responsible whale make spread distribution by selling to many small orders. we want as much of the coins bought off the market as possible. then there's less resistance going up. as it is.. if u look at the sellbooks.. there isnt really any resistance to take it back to 60ksatoshi. we can chalk it up to a short period of doubtful investor confidence and that whale. if everyone is patient, the rebound should be quick once we're done with the whale(s). $125million is chump change amongst the crypt-community.. blackcoin can make do double that market cap by the multipool alone given enough time. but i think if we really want to work together as a community, our duty would be to buy and hold coins off the market in our wallet constantly. that way eventually any whale manipulating the market would lose all his coins as we constantly buy it up to the highs to 1btc=1bc even if at that point we're only selling fractions.
it can be done. it just takes commitment from the community. the larger the community, the faster this goal can be accomplished. very important to remember that quick turnarounds are what slowdown the growth of the coin. which is why i advise uptrading margins by large gaps and not small ones.
I know what you mean mate but don't you get it? There are 100 more whales in blackcoin that can and will do the same thing. This was meant to be fair distribution and now we see the ugly side of even a 1-2% bagholder just sitting there dumping in small amounts so they can exit. When one whale is finished, the price will rise abit and then get pushed down at the next whale's exit point. If there are 20 whales each taking ~3 days to dump then we're looking at at least 3 months of dumping. Volume won't hold that long investors will get bored.
Prove me wrong though, happy to jump back in if the trend looks good.
Pretty much this, its over. By the time the whales are done dumping no one will be interested in the coin. Wish I held some dogecoin, they are gonna get pumped before the halving again..
Why is BC better than PPC?
Why i should invest in BC instead of the father PPC?
PPC has estable prices and also a good potential of growing, also what makes BC different from Mint or ECC?
Why i should invest in BC instead of the father PPC?
PPC has estable prices and also a good potential of growing, also what makes BC different from Mint or ECC?
It isn't, its all hype.
This is a perfect example why pump and dumps are illegal in the real world. Its the equivalent of robbing someone of their money. Right now there are tons of people who lost thousands of dollars on this shitcoin to manipulation and lies.
Re: [ANN] BETARIGS.COM - Cryptocurrency cloud mining - 1500+ rigs online to rent!
A big issue with beta rigs is people making spam accounts and mass renting out rigs so they can inflate the price and get their rigs bumped up. I have lost countless hours to renters with accounts like asdfgasdf
If anything kills this idea it would be this. Incorporate sometime of IP ban for repeat offenders. Having an option to cancel the order would also be nice.
Re: [ANN][PND] The Official PandaCoin thread! [Scrypt][KGW][NO PREMINE]
Even at 1 satoshi the network hash rate never falls below 1 G/Hash (that should give you a hint). Want my advice?
Talk is so cheap
Take a look and rethink what you sayhttp://i.imgur.com/Ph6EnEQ.png
The hash rate fluctuates as it does with all other new and developing coins. If you believe PND doesn't have value then don't mine it. No one is forcing you.
Re: [ANN][PND] The Official PandaCoin thread! [Scrypt][KGW][NO PREMINE]
Out of all the shitcoins out there this one has the most potential for future growth. Its community created it to combat widespread crypto corruption and coins that benefit the creator/investors with an unfair advantage. Not only was it a success it sprouted a dedicated community with a nobel cause. Even though the price of PND has been dumped on purpose by some vengeful people its community stands stronger than before. Even at 1 satoshi the network hash rate never falls below 1 G/Hash (that should give you a hint). Want my advice? Become a part of the community. It's the leaders and innovators that get rewarded the most, the people who hop on once its to late are only following a trend not leading it.
Re: [ANN] BlackCoin (BC) | on exchanges | scrypt | PoS | No premine
Confirmed for http://bc.scryptominers.com stealing your coins. Mined all night and received 0 coins but the stratums are up and accepting shares. This looks like a cut and run.