Re: Is Fraud and Scam killing the Altcoins?

Today the SEC sent an alarm again about ICO pumps and scams: https://www.coindesk.com/sec-warns-public-companies-using-icos-pump-stocks/

As a day trader, I can see it everyday, scam after scam, the altcoins are in suicide mode.

Today we reached the higher capitalization ever, thank to ETH going up to $360, but on the altcoin side, there is nothing happening, no money to make. Why?

…

read that there are some ICO regulations issue in China... who knows something more about it?

NEO's first ICO Red Pulse just tweeted two hours ago that they won't be selling to Chinese investors.  I had 5 NEO and just sold them.

Wrote an article about this, feedback from experienced crypto enthusiast is welcome

http://usethebitcoin.com/regulations-in-china-regarding-icos-affect-neo-price/

If the department overseeing illegal fundraising activities found a fundraising without proper permission, or a fundraising that violates the relevant provisions of the State, and if one of the following circumstances is found, the department shall launch an administrative investigation. Other relevant departments shall cooperate with the investigation.
….
(2) to raise funds in the name of issuing or transferring equity, raising funds, selling insurance, or engaging in asset management activities, virtual currency, leasing, credit cooperation and mutual funds..."

But BTC has indeed that 100+ advantage over anything because of being the first one and the most popular and already established.

Maybe it is time you do look into it in depth instead of repeating hearsay. It would be interesting
to have someone analyse Dash on its technical merit, which is after all the focus of your thread.

“no one—who properly understands anonymity technology—uses Dash’s masternode scam honeypot”

There was more discussion here.


The anonymity of Monero is in doubt.

The point is, if the headlines read "Bitmain steals Segwit coins!" rational people are not going to move into another Chinese coin.

In further rebuttal of @sus_generis, as I have quoted from others who have explained that the likely first attack against BTC-SegWit is the slow difficulty readjustment of Bitcoin. Thus as BTC peaks then declines in price and then BCH rebounds in price, it will be much more profitable to mine BCH than BTC-SegWit. This in theory results in a spiral that collapses the price of BTC and drives the price of BCH up.

The theft of SegWit probably comes if ever, perhaps some months later, perhaps around the time of the November fork. Those who create the chaos profit by shorting everything and again you are trying to argue that all ASIC-mined blockchains will crater yet it was already explained to you that the lowest-cost miners remain just as profitable as they were before and continue to accumulate all the tokens for the next pump. And NEO is positioned with PoS to take that inflow that gets scared as shit of PoW with what is coming down the pike to discredit PoW. Maybe Vitalik will get his PoS crapola activated in time, but Ethereum is owned by the same TPTB behind the scenes who are the customers of Bitmain. Jihan is just the front man. The power brokers are unnamed as always.

Cryptocurrency as it stands now is a raping system. Bend over greater fools.

So they would throw away their money, destroy Bitcoin, and by doing so empower alternatives that don't use POW?

…so let’s safely presume the miners are offloading their mined tokens as soon as the 600 block (~100 hours) holdback period is completed…

…

It was always assumed that miners had no incentive to destroy Bitcoin because of their hardware investment, but this doesn’t factor in that cratering the price mostly impacts only the marginal miners, because the network difficulty and hashrate adjusts down to the new lower price level. Those who have the control over the only two 14nm fabs in the world, thus remain profitable even with a cratered price. Add the conspiracy theory on top of that, which is TPTB which control those ASIC fabs have absolute power/control as their primary objective, not profit.

One article on Steemit and all alts are worthless?

P.S. If you need confirmation of that guy's separation from reality, read about the latest imaginary attack he came up with. Apparently, he thinks that miners would nuke the value of their own hardware to steal coins from Segwit transactions.

If you want really anonymous and untraceable transactions, use Monero.

I'm a liar? Ok, I have great news for you then. Why not use your fake news Monerolink tool to win the bounty in this challenge: www.monerotrackingchallenge.com/
Please claim the prize.

Then he has the audacity to make grandiose claims on subjects which he does not fully comprehend.

Monerolink only applies to very old transactions that intentionally turned off privacy by setting mixin to zero.

The "vulnerabilities" that blowhard detailed exist only in his head. For his vulnerabilities to work, an attacker would have to own over 80% of all outputs on the blockchain

His mathematics knowledge is a joke; just enough to be able to waste the time of Monero's PhD cryptographers.

- bitcoin stays stable > altcoins get pumped

you should hope for the third option to happen.

I don't see any crash coming. There is no potential bad news on the horizon.

I took some profit and bought cheap silver. That way if there is a crash I hedged myself.

... simply because it's designed to allow people to sell BCH for BTC so we can get more BTC = more cash

Well, what did Cash supporters expect? To reinvent BTC, get it for free and then have it replace Core???

I'm not sure how we're going to handle this massive crash.

If the outcome I’m positing comes to fruition, it will mean that every fork of Bitcoin is a threat which requires coloring UTXO based upon their age, with older UTXO worth more than newer. Because buyers will value older UTXO more, since less probability of being stolen by a chain reorganization .

This is death to Bitcoin as a decentralized, fungible token system…

I believe @kwukduck is referring to a dire warning which is explained here, here, here, and here.

31 july 2017 - Nothing change.