Bitcoin Forum

http://www.neucoin.org/en/presale

I'm thinking of getting some.  I missed the NXT IPO for being closed minded, and I'm kicking myself for it.  Now I'm thinking it could happen again with Neu.  Please give me valid reasons on why I should or  shouldn't buy some Neucoins.

Are you willing to stake 24/7 for the next 10 years?

If not, you could lose much of the value of your investment through the eroding effects of inflation (assuming you planned to hold it).

You could have them mine for you at MyNeuCoin.com. But there is risk of centralizing all the staking power (it is free and easier for them to do it so people are more likely not to run their own software).


Nxt has no inflation so there is no economic cost to you of not forging, you don't feel obliged to lease your forging to a pool just to maintain the value you have. Inflation differences between Nxt and Neu (none and a lot) make unqualified comparisons problematic.

paycoin 2.0

2600 BTC handed over them to dump so far

Yeah you're right.  Thanks.

Looks like other Cryptos are following GetGems reward-value model.

The presale is only for 3.33% of the total 3 billion NeuCoin.....so there will be plenty of chances to buy in.
Might be good for speculative profit right now, but I'd wait until there is some sign of a running network, sometime in August/September

The planned total supply being inflated to 100 billion over 10 years is too scary for me
(Edit: Is it fair to say the presale is for 3.33% of 3% of the total supply > 0.00099% being sold at presale?)

Too expensive for me at today's prices too. If released today, I think it would be accepted similar to NEM (basic network with novel POS algo changes) so $0.01 seems very expensive, even allowing for a premium for the advisors they list.


Following Kushti's analysis is interesting, he hasn't got to the bottom of his concerns yet.


tl:dr don't rush in

Presale numbers are possibly fake. No evidence to be had anywhere which would support the idea that these numbers could be real. You people are exceptionally gullible.

What a bunch of bullshit.  

1) They claim they've sold over 70M neucoins for over 3K BTC.
2) They claim the proceeds are visible here: https://blockchain.info/address/3MrNuksZ1VePU3dGiSQFiouWerJUJgDkfH
3) There is .05 BTC in that address

They originally listed the names of people behind this scam in this article, but they have since been scrubbed.. INTERESTING HMM?
https://www.cryptocoinsnews.com/neucoin-teams-techs-top-executives-bring-cryptocurrency-masses/

Clearly the next GAW.  Assholes.  Fuck Off.

Daniel Kaufman, Co-Founder, Strategy
Ophélie Pubellier, Co-Founder, Technology
Scott Walker, Co-Founder, Business Development and Marketing
Mark Bridges, Business Development and Marketing
Kourosh Davarpanah, Evangelist
Maël Nison, Core Coin Developer
Ludovic Pouvreau, Back-end Developer
Alexandra Grasland, Front-end Developer and Designer
Alex Norstrom
Jackson Palmer
Brock Pierce
Patrik Stymne
Michaël Witrant
Josh Abram
Markus Alderback
Olga Bartnicki
Henrik Dahlback
Michael Daun
Anders Ehrenblad
Josh Engroff
Bill and Gideon Friedman
David Frykman
Rob Goldman
Toby Gorman
Pal Hodann
Michael Hudgins
Nicholas Högberg
Johan Ihrfelt
Henrik Kjellberg
David Lerner
Ori Mace
Adam McNicol
Emil Michael
Alan Murray
Henrik Hancke Nielsen
David Perez
Tom Phillips
Andreas Reutercrona
Ted Rogers
Daniel Sachs
Christophe Salanon
Richard Silen
Calle Sjoenell
Bjorn Soderstrom
Patrik Stymne
Henrik Sundgren
Jonas Svensson
Per Zachariassen

Didnt he leave Crypto? Or the master shitcoin maker is still milking crypto for fiat

As it seem he didn't. The Neucoin wiki claims that he's working for them as some sort of strategic adviser. Actually because of his experience, hiring him make sense for an altcoin startup.

well marketed scam coin.  even if you take them at their word, it is a 100% premine and the public gets to buy a small fraction of the coins! which you won't even get for months, if they develop it....there's no wallets, no code, no innovation, nothing.

Ho hum..

Wasn't going to get involved.. but can't help myself..

Neucoin is definitely a professional outfit, and the paper for the POS system used (that I have read fully and been impressed by) shows that a lot of time and effort has gone into coming up with a secure, functioning POS Network. Full marks so far. But I'm afraid that their current pitch COMPLETELY misses the point.

Here is the IMPORTANT BIT..

Ready..

BITCOIN DOES NOT DERIVE IT'S VALUE FROM THE FACT IT SOLVES THE PROBLEM OF DISTRIBUTED CONSENSUS.

One more time.

BITCOIN DOES NOT DERIVE IT'S VALUE FROM THE FACT IT SOLVES THE PROBLEM OF DISTRIBUTED CONSENSUS.

..

Therefore, just because you have a 'coin' that runs on a system that solves the problem of distributed consensus, DOES NOT MEAN IT HAS VALUE. (Whatever koubiac says about capital investment)

POS Chains are DACs. NOT COINS.

POS Chains are wonderful and useful and lots of other things, but one thing they are not is VALUABLE IN AND OF THEMSELVES. (unlike POW coins..)

POS Chains need to serve a purpose that in turn gives the STAKES value. (Like NXT's Asset exchange, Bitshares, etc etc..)

The concept of Inflation in a DAC is a non starter. Sorry. All you do is dilute all the shares. Add nothing of value.  

Their utter dismissal of POW in all it's forms, tells me, that they just don't get it.

Good Luck to them though!  ;D

You you shouldn't. This shitcoin was shilled by Jackson Palmer, what else can I say?
If you do end up buying sell as soon as you get any profits, don't gamble with shitcoins of this caliber.

It sounds like all the investors are buying into promises the devs will deliver something special. It's not often any previous IPO coin's devs delivered on their promises. More often than not the investors lose out.

A proof-of-stake coin where 2 entities get 2/3 of all coins? No, thanks.

https://i.imgur.com/xXMyDh3.jpg

Indeed, 1 BTC for 25K of promises seems to be a bit too much. ...and the whole thing, including the forum looks similar to that what I've seen on the GAW sites.

3 billion to 100 billion inflation.  So I would have to stake every day, for the next 10 years, just to maintain my holdings?  Lmao!  I bet their angels were given an exemption from this rule, because I doubt busy VPs and executives are going to be staking coins in their pajamas on their laptops.  "Sorry I got to cancel the board meeting because I forgot to turn on the laptop to stake NeuCoins, so I have to head home".


Yet we are suppose to believe this very obtuse inflation, which requires a lot of technical knowledge to keep on top of, is supposed to be compatible with massive user adoption or even merchant adoption as everyone (except the creators) would lose from this.   The value of your money does not inflate away on PayPal or Applepay but they want us to believe that people would happily buying into a system where they see themselves get robbed blind from inflation?   ???  Goes to show these NeuTards spent too much time on the Doge forum and have been taking too much advice from Palmer (who is he again?  Doge in 2014 was outperformed by several alternates and today nobody really thinks much of it).

Grandiose goals like claiming they'll acquire 1 million users within 365 days when Bitcoin only has managed 250,000 after 6 years.  I don't think annoying popup ads on obscure freemium websites are going to acquire you a million paying users.

To be devil's advocate, and to suggest such spamming freemium websites and forking peercoin (which can be done in a fortnight) is the model to success, what's stopping some bigger fish from doing the same?  Nothing really, there's many people out there with more connections than the slum lord Daniel Kaufman.   If success is as simple as a few marketing geeks and forking a several years' old Peercoin then I'ld expect NeuCoin to be crushed by bigger and better funded entities and they're a dime a dozen in this world.

As Kevin O'Leary would say: nothing proprietary no investment and there's nothing proprietary about NeuCoin.

People still throwing money away on IPOs. Sad.

I liked Gems where only after collecting a fortune from people, they announced serious deviation from their original plan and decided: "we'll just fork telegram".  :D  Bait and switch is a form of fraud.

How many scam and fraudulent IPOs have there been on Bitcointalk and nobody was ever sued or put into prison for them?  I wonder how Bitcointalk can even get away as an enabler for them too, beyond agreeing to any subpoena that comes their way.

Not that does any good because it always seems these IPOs, although many can be ran by Americans, are either ran by individuals or companies in developing countries or tax havens immune to prosecution.  NeuCoin is no different where it is based out in the Seychelles.

I love how neucoin claims to "foil all attack vectors" (never mind how)
but in the presale agreement there is
"risk of cryptographic attack" that you have to sign onto.  ::)

+1

The presale counter is completely falsified.

+2

You can buy after the launch.
With at least 50% discount.

http://www.neucoin.org/en/purchase_agreement

Severability

If any portion of these Terms is found illegal or unenforceable, in whole or in part, such provision shall, as to such jurisdiction, be deemed superseded by a valid, enforceable provision that most closely matches the intent of the original provision, without affecting the validity or enforceability thereof in any other manner or jurisdiction and without affecting the remaining provisions of these Terms, which shall continue to be in full force and effect.

Purchase Agreement written by the Oracle?

severability clauses are pretty standard.

Yeah.  I've been thinking about this.

This is what I think will happen too.  I was worried about missing out.  But the market sentiment was different when the IPO for NXT came out.  Those were bullish times. 

Obvious shitcoin.

They rose $2.5M already and won't even have a wallet until July. They confirmed this for me on Twitter. https://twitter.com/HW_BEAT_THAT/status/591548815657709568

What was the $2.5M from investors for?

So between the date of the presale and July your Neucoin "cryptocurrency" is going to be in an Excel spreadsheet on some hipster's MacBook. Let's hope it doesn't get accidentally erased  :D

Lol.  I was thinking the same.  But in a different context.  But yours is funny.  :D

True; ignore my fallacious comment.   :)

how much was NXT during the presale?

I think the IPO got 21 BTC for the whole billion NXT.  Not sure....

Right now there's over 2,700 BTC in that address.

Are there any stipulations in their terms and conditions that they won't be holding all the BTC in BTC?  Will they be selling part or maybe all of it like what Factom did?

They don't say. It will be sent to their three "foundations" to "fund core development, consumer marketing and projects that increase the utility of the decentralized cryptocurrency, including platforms for micropayments."

The way it's worded they can exchange the BTC for fiat after the coin launches...

From their site:

Proceeds refunded if launch does not occur by September 30

All proceeds from the presale will remain untouched at this publicly visible and verifiable address: 3MrNuksZ1VePU3dGiSQFiouWerJUJgDkfH until the NeuCoin cryptocurrency is created and launched, expected to happen in July 2015. If the creation and launch for whatever reason does not occur by September 30, all presale purchases will be refunded.

Proceeds used to increase utility and value of NeuCoin

Following creation and launch, all proceeds will be distributed among NeuCoin’s three Isle of Man-based, non-profit foundations - the NeuCoin Code Foundation, the NeuCoin Growth Foundation and the NeuCoin Utility Foundation - and will be used, along with cash remaining from NeuCoin’s strategic angel round, to fund core development, consumer marketing and projects that increase the utility of the decentralized cryptocurrency, including platforms for micropayments.

I'd do as I did with Ethereum and NXT. Wait a year for interest to wither. Then buy.
Not the sure way to gain money, but a surer way not to lose any.
There are no trains to be missed, remember the Willybot

Sunny King (The creator of Peercoin and proof-of-stake) has looked at their whitepaper. He told us in a meeting that their paper is about 80% accurate. Also, whatever revolutionary changes they have supposedly made to the security model, Sunny has decided to work on a protocol update that should be out sometime soon...

https://www.peercointalk.org/index.php?topic=4074.msg38888#msg38888

So the only real difference that Neucoin will have is it's distribution model. Here is our community's response to them trying to give us coins, just for the record...

https://www.peercointalk.org/index.php?topic=4075.msg38897#msg38897

Is this Tom Cruise? What's up with those super fake smiles and laughs  

It's not fake. He's high on Scientology, sniffing the "I am immortal" fumes.

Another Bitclone.

We don't need more Bitclones. We need tech that uses the blockchain for other uses than just transferring digital currency "coins".