Bitcoin Forum

What do we do about a dev who went bad. Like to fork coins from others, scams us and admits to it. This dev forks his own coins, swaps them and creates a new coin all within months time. Kills the new coin by blaming it on someone else and tells everyone he is done. By the way hes back doing it again.
This dev also will put exploits in the code and still uses timedrift. Other examples available.

Should be a alt-coin foundation that over see's and approves the launching of coins.


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Re: [ANN] Negativity | POSITIVE/NEGATIVE STAKING | So you wanna be a Negative Nancy?
Today at 04:14:28 PM
Reply with quote  #70
Quote from: pravin on Today at 04:06:49 PM
all blocks getting orphaned?? shit....
Thats normal with Scammer Spotty :

[03 Aug 15 01:29] * iGotSpots * i orphaned the first 4000 blocks of their chain  Wink
[03 Aug 15 01:29] * iGotSpots * and made them accept mine

And enjoy the exploits, at least 6 are present :

Quote from: iGotSpots on July 29, 2015, 07:16:56 PM
Hmmmm it appears your blockchain just jumped like 4000 blocks....   Shocked

I'll let you have your fun, but that is just a warning  Wink

(Btw, there's like 5 things you should still change. If you weren't acting like such pricks, I would help you)

But now you're right back to centralizing the control of coins... and who selects the person who would over see this?
Someone you trust?  Someone I trust?  and it goes on.

Education, the community and common sense will ultimately flesh out the bad seeds in the pool.

For example... If a coin is released without source -- or missing source... red flag.
Does the coin version match the wallet version?  Etc.
Will the coin startup without seed nodes in the .conf file?  If not, something may be wrong.

I've even gone so far as to diff the coin source against known safe coins to see if there are any major differences.

About the only regulation that's enforceable and makes sense in this space is - caveat emptor.

Too much greed, too many suckers, too many dark little corners for it to flourish. It's never going to change.

Alt-coins almost always tank. That is the lesson.

After the "early adopters" cash out, of course.

satoshi and the other could have done the same thing with bitcoin, and it could explain why we crushed from 1200 and we are struggling like no tomorrow to increase again

I am not sure we can do anything about this! Even if we make legal prosecutions, crypto field is so young and unregulated that we wouldn't gain nothing with it. Moreover, we would just gain negative reputation by raising our voices.

What we need is put our greed under control and stop investing into these scams and stop giving fake Devs our hard earned money.

You can't really regulate alt coin launches, the bitcoin core is open source so everyone could fork it. The only think that someone could do is to do their own research on the alt coin and invest carefully. After all you are responsible for your investments.