Bitcoin Forum

Looking to get some social media crypto.

Which platform is closer to launching a MVP:

Synereo has some nice GUI work going on, but is dragging its feet on choosing a blockchain to mate with.
STEEM just launched its POW blockchain, but no GUI yet.

STEEM IS A SCAM

Here is what i first read by eclipse crypto dev

"The reasoning behind not having windows binaries is that the devs continue to use their insider knowledge to fuck over the community.

The list of how they do this is growing longer.

Most recently you will notice that they offered someone a position as a witness. How are they able to offer this position? Because they have now secured all control over this coin by using this concept of vests. This coin is COMPLETELY CENTRALIZED NOW.

Here's how they did it:

First, they did a typical instamine/flashmine/freemine scam (yes scam) where they released

(1) no compiled wallets
(2) no instructions to build
(3) incomplete and inaccurate instructions to mine

This wasn't bad enough. After the first 12 or so hours of mining, all their miners crashed, exposing that they were mining to 100 different witnesses to hide the fact that they (he) was one entity. The devs wouldn't have been caught except that their mining instructions were wrong, and no one else was mining because, even if they couldn't get the client to build, they entered mining commands that caused them to get no blocks. The devs will claim this isn't on purpose, but check the original thread. You'll see that no one mined a block when the dev's miners were down.

Then, as I have stated many times, when their miners crashed again, I mined a significant amount of steem that night in their absence. To prevent my vesting that and driving the price of vests up on them, they relaunched to ensure COMPLETE CONTROL AND CENTRALIZATION.

After the relaunch, no one would challenge them on mining because if they did, the devs would just relaunch this scamcoin again. So, no one who pays attention (and the people who have the means to procure whatever hashes they want are also the people who are paying attention), would challenge them on the hashes. As they hoped, no one did and they completely dominated the hashes for 1 week.

Now after 1 week of hashing, they dump all their coins into vests, where the price of a vest goes up with the amount vested. This is not your typical stakeholding where one unit of currency is worth one stake. This is on purpose so that they can COMPLETELY CONTROL THIS COIN IN A CENTRALIZED WAY after just 1 week.

Vests don't cost 1 STEEM anymore like they did when the devs bought them. They now cost 5 STEEM. That means that you will need to dominate all the hashes for 5 weeks just to match the control the devs have after 1 week. They have driven your costs up by 5, not using the market, as should be done, but by using this freemine/threat-of-relaunch scam.

So, why don't we all just mine for 5 weeks and decentralize control ourselves? There are two main reasons.

First, anyone who is paying attention (this includes all smart people with BTC to throw at things like this) won't dump money on a scam like this. So you are going to get a bunch of gullible small timers who don't have the foresight to convert to vests anyway, even if vests were legit. The small timers just want to get a profit asap.

Second, there's only 3 more weeks left of true mining before delegated mining kicks in. Delegated mining is when the devs pick 19 "witnesses" to mine. Maybe they might pick one or two legit miners, but the most likely scenario, given the scam they have perpetrated so far, is that they will pick at least 17 instances of themselves to mine.

In other words, it's impossible now to decentralize this coin because the devs have rigged it since the beginning. Not only that, they will be getting all the coins, unchallenged, for as small of a price as they want to pay.

By the way, I'm keeping track here. The devs are going to have to stay low and so will this coin. If it ever gets big, then these devs will be fucked because they will not be able to deny they control the entire currency."


Then I read this a page later from eclipse crypto dev

"And I've been mining while I've been fudding.

Hate me? Consider it "chess". Wink

TOTAL                  1357.000 STEEM    3676.733594 VESTS            0.000 SBD "


Eclipse crypto dev latest one

"I think you have a great idea here and am interested in being a witness, so I'm going to lay down my creds.

First of all, the Eclipse Crypto account is a join developer account. I originally used it to post in this thread because I was logged in as this account and forgot to log out. I thought it would be a one-off post but then it kind of exploded. The other Eclipse developers have been *very* understanding, and my apparent lunacy here is in no way a reflection of the Eclipse team.

From now on, I'll post in this thread as "Bubba-Gump".



Was he paid off in steems or just was fudding and scamming all along? either way would you want a dev like this in charge of your eclipse crypto currency. I would be selling that at once if I had any I would be.

This blog post was obviously written about STEEM:

https://bytemaster.github.io/article/2016/03/27/How-to-Launch-a-Crypto-Currency-Legally-while-Raising-Funds/

sounds like scam justification to me...

They said no premine no instamine then instamined it all themselves. When someone else got some they reset the blockchain to start again.

sounds like xcoin release but they had to do it that way.

soon it seems devs will have to take 80% of the minting it's the only fair and legal way to get some funds :(


I'd take transparent ICO over this.

Let's go back to POW fair release protocols from wave 2 of alt releases.

So it's not ok to premine (mine before the ann thread is created)

But it is okay to instamine it whilst stopping majority of others mining it. Whilst claiming no instamine and no premine.

Reference Synereo did anyone ever find out why they had that huge one day run up in price?

No, but I was wondering why Synereo ran up high, and STEEM even higher.  Like most start up companies, the devs of both projects are major holders in their babies.  I must have taken a wrong turn and wound up hijacked in the in the ghetto.  Please let me reiterate the topic up for discussion:  

WHICH PLATFORM IS GOING TO LAUNCH OFFICIALLY FIRST? (blockchain compensation mechanism + user friendly GUI)

So far we have 4 posts and not even a single UNEDUCATED guess...  

Maybe this is the wrong place to have "group due diligence" discussions on the state of the art crypto companies.

Steem will probably try to rush something out first but since it's a scam it will fail.

Buy steem and you have been hijacked.

OK, cool, after a page of replies, we got one actual vote.  Thank you cryptohunter.  

These are not your grandpa's bitcoin (where the devs do a few days of coding and then launch the coin for the community to develop like BTC, ETH, etc)

These are modern crypto companies where the Owners use their equity (that they are selling to you just like they do on wall street) to work on development CONTINUOUSLY, like forever.  The trick to the social media coins is:

are users actually going to use them?

You don't have to buy or mine these coins because if you use the social media service, then you get to EARN THEM FOR DOING WHAT YOU ARE ALREADY DOING (posting and upvoting stuff).



https://www.youtube.com/results?search_query=synereo

https://soundcloud.com/beyond-bitcoin-hangouts

Steem has said they will be doing an airdrop in early July based on best content on their site. That suggests to me MVP will be operating for some time before that.

I was one of the people who mined STEEM both before and after the relaunch, so I'm somewhat familiar with it, but I will never shill for it because I do agree the launch was scammy. I have not followed Synereo, so it is hard for me to judge which will be first.

Daniel Larimer, creator of BitShares, is a dev behind steem.  No way would Dan try and scam people, he has been one of the most honest and up front people around the crypto space these last few years.  I'm not commenting on the actual launch, just stating that Dan would in no way create streem to scam people.

Every Friday he is on the Beyond Bitcoin hangout where anyone can join in and ask questions directly.  You can find all those recordings on sound cloud.

People use the word 'scam' rather loosely here, so let's ask another question - do you think he has a history of reneging on promises? If so, do you think it will be different fro Steem?

Sweet, a fact (July)!

and it only took a page of "scam spam"

WTF us up with you girls?  

bitch bitch bitch!!

Both coins have huge insider premines for a reason (so the devs can eat as they develop their products).  Also known on Wall Street as EQUITY.  Yeah, both businesses are definitely "scams" if your definition of "scam" means that the "company owners" actually "own" a big share of the company.  It's their incentive to raise the share price, Sherlock.  

So team STEEM is poised to produce a blockchain+GUI by July.

Thanks Smooth, I'm halfway there.

now does anybody here have any idea when Synereo plans on launching their blockchain+GUI social media solution?

Reneging is not the right word.  Dan among others have quit their jobs to push crypto the next level.  Is BitShares everything promised it would be?  Of course not, these are all experiments (new unknown territory) that we should appreciate the honest dev's putting in work to progress crypto.  He has no choice but to take a break from BTS and in the meantime to get Steem going as he also has life expenses.

Yes, of course I know all about the Bitshare devs (I've done at least SOME DD).  They invented the smartcoin market, that never saw a black swan break the peg.  Bang, first mover advantage complete.  Who knows when or if another coin is going to allow its owners to sell assets they don't own (gold, silver, oil, etc) simply by locking up some crypto collateral on its blockchian.  But why reinvent the wheel, right. Like we need another smartcoin market.

So, now that team Bitshares has attained the first mover advantage in the smartcoin space, what's next?

Social Media cryptos can be mined by anybody, not just the miners, so who cares how much premine the devs have, when ANYBODY can get STEEM simply by PAYING (see the value now?) attention.  My attention costs MONEY, and Synereo and STEEM are going to show it to me.


So, the Bitshares team has a history of delivering functional DACs that stand the test of time, but the Synereo team looks pretty focussed too, however, they have never proven that they can launch a functional DAC.



But who will attain the first mover advantage?

Crypto coins are not equity and the misleading comparison is often made for scamming purposes (no comment on either of these coins in particular). The difference is that with equity you have a legal claim against the net assets of a business, with a coin you do not have any kind of claim on anything. It is often valued solely on the basis of hype and promotion (and what you can resell it for to a greater fool). Again, those are general thoughts, and these coins may be different. I'm not commenting.


There is already a blockchain and as I understand it you can post content via the wallet. I haven't tried though, just mined.

Did you see me flashing a badge or arresting someone?

I have an opinion, and I decided to share it.

Use or ignore as you see fit.

IMO (and IANAL), that is a very, very, very astute blog post.

Dash's scheme on steroids. Wow.

...and YouTube: https://www.youtube.com/c/BeyondBitcoinCommunity

I didn't even know Steem was supposed to be a social media platform, and I follow Bitshares closely.

It's kind of hard to believe what an idiot you are.

shhhh I've seen you in the steem scam thread. You grabbed a few steeming scam coins good for you.


I like this bit
---------------------------------------------------------------------------------------------------------------------------------------------------------------------
Perhaps the Bitcoin Communities cultural regulations are a blessing in disguise. By intentionally violating every one of their expectations you can minimize your token’s value at launch while still legally mining a token for minimal cost.

Those in the Bitcoin community who are forward-thinking enough to recognize the value of alternative allocation strategies can mine these pariah coins and profit along with their creators.

================================================================

haha what a joker. Under the guise of doing it all to remain legal and above board.

You heard it right here. Only a handful of miners (because if everyone can mine his idea does not work) should be able to mine and profit. Everyone else should be scammed into paying high prices for the coins they got for nothing if they can get it to take off. Which hopefully they wont if we all brand it a scam and spread the word to others its a scam. Then clone their ideas and release them in a fair manner.

I mean it is that simple. It will be deliberately unfair in every possible way to ensure only the devs and handful of others can mine it. Then the profit goes to them and only them and the creators.

You don't call scam on steem and let them get away with this you can kiss goodbye to any sort of fair distribution in the future.
This is darkcoin/xcoin all over again. This time it has to be done like that for their own good and the good of the few miners that may be allowed to grab up all the coins with them.

Pariah coins? = scam coins.

You see this STEEM scam is basically exactly like xcoin/dash coin. It may not be quite so bad because they are saying that a lot of the coins they grabbed all up for themselves are not really all for themselves because they will be given out to people using the social media site. Used for development etc etc...

However, let's get some exactly numbers put down so we can see just how much they grabbed up , how much is vested, how much retained for giving out to social media users, how much for development.

That's not the main issue. The main issue now is all the future releases of pariah coins that wont give shit out for free and we have to rely on them even doing so.

what about all the other devs looking at this justication for grabbing up all the coins with a few pals...they may not be social media and will just keep all the coins and "profit like the creators"?

Alternative allocation strategy hey.

That is not the only possible outcome of Daniel Larimer's astute logic. That is one possible way to do it, which I agree is not going to result in a viable ecosystem.

Do you mean the profiting part?

But he says that only those whom mine pariah coins and the devs will profit? that is what he is saying? is it or is he just pretending to be super unfair to put everyone off even more and you are seeing something there that I am not seeing?

They won't be pariah coins if everyone can mine and if they were not considered grossly unfair and unacceptable?

This idea is only mildly acceptable to the majority if

1. you can 100% trust the devs
2. they actually do give a very reasonable amount away like for social media activity
3. they do not create a handful of whales (pals tipped off early and given easy guide to mining) who are just used to protect and enable. I mean these few whales that are in on it too will be getting a ton of vests too to keep them going. So somehow they have to make it so so unfair that only they the devs can grab the coins. There should be no other mining whales. But somehow there be some tiny possibility others can mine if they are super talents in this field and happen upon the coin before it's all mined away.


there is no harm in creating a dev fund and a pot to pay out of for social media tipping but the number should be set out before. Which I guess is hard to do because you don't know the market value of your tokens at the start.

Also hoping to turn everyone off from the idea

1, by making it impossible to mine by the majority
2. by making it look grossly unfair in every single way

Is only going to make for a bad start and lots of hostility from miners so they better be able to market very well outside of the mining community.

Also who wants to be first to buy these tokens on exchange when you know that you were deliberately held off mining them for next to nothing like the devs and a few pals. You would want a very good chance them increasing in value and not dropping else you have been totally suckered,



I am not refuting his other logical points regarding remaining compliant with regulations. Although they appear like work arounds and loopholes rather than clearly staying within the intended guidelines. I would not be suprised even after doing it like this they could later come back and spank you with huge fines if it suited them and there was enough money involved to make it worth it for them.

I know laws don't abide essentially by logic but

premine is illegal but captive instamine (which somehow isnt instamine) is okay? I mean even if you deliberately make it so the vast vast majority are unable to mine at all?




I just think if anyone should accept this new alternative mining method so many things need to be set in stone and no way to wriggle out. Also it is open to abuse until you find a way to captive instamine after release with only the dev wallet/s getting 95% of the non instamine instamine tokens. Who knows what select few pals could be getting the special mining/compiling instructions.

So i see it open to abuse and will start with negative vibes.

I'm may be missing something very important here that is going to change my entire opinion on it but as yet I have not located it. I see this alternative distribution method being open to huge abuse though if they can ever convince the board not to brand it as a very bad idea.

I mean a lead developer(s) can use a variant of his strategy to attain some fair percentage of the tokens, say 1 - 5% as Satoshi is alleged to have done, and still not destroy the adoption of the currency.

If you were wise, you'd spend 4% of that 5% developing the ecosystem. And end up with a non-troubling 1% for your excellent and noble efforts. While also being compliant with the law.

I don't think it is necessary to have an instamine in order to achieve the apparently legal strategy Daniel Larimer explained.

Wow! DecentralizeEconomics still with us! Do you have some new pictures?  :)

Good, but I already seen similar picture  :(
Do you have something fresh?

All in good time.

Btw, Synereo is releasing its beta any day now.  Take a look at these guys -> https://www.youtube.com/watch?v=iALtgkpIDRU (https://www.youtube.com/watch?v=iALtgkpIDRU)  They're going to dominate this space.

Excellent, definitely I will take a look when it's released.
BTW: When Synereo will be released you can post about it at Steem.

No, I can't, because the Larimer Gang and anyone associated with them are thieves.  Just like they copied NXT's GUI and innovative PoS algo for Bitshares to line their wallets, they are undoubtedly doing the same thing to Synereo with their ill-fated, scam of a project called "Steem".  They even had to choose a name that started with an "S" in a pathetic attempt to cause confusion between the two projects and hopefully con some people.  If the lying Larimers want to find out about Synereo, they'll have to do their own research.

Lol, yes these dorks (https://www.youtube.com/watch?v=iALtgkpIDRU#t=550) are going to dominate by requiring bloggers to learn Github.  ::)

Then @ 26mins we have Greg Meredith (https://www.youtube.com/watch?v=iALtgkpIDRU#t=1557) raving about recruiting an economist and hiring a former Ethereum developer who talks about Oleg's monad blogs. As if this focus on eggheads has anything to do with wide-scale adoption of a social network.

At @30min, Greg admits (https://www.youtube.com/watch?v=iALtgkpIDRU#t=1813) that the "Lively Gig" team has stated, "Synereo doesn't know what they are doing".

At @38min, Greg points out (https://www.youtube.com/watch?v=iALtgkpIDRU#t=2352) that there is an insoluble problem in that the value of AMPs will be siphoned off to ETH or BTC units. And he admits Synereo can't scale for 18 months, because current block chain model won't scale and will need to be replaced.

Well, they're certainly beating you, but that's not saying much is it?

I can agree only that they copied poloniex GUI into BitShares, but Nxt GUI and Nxt POS completely different from BitShares. As I remember year ago you have huge discussion about BitShares DPOS where you says that Nxt has much better POS than BitShares, so in that time you think that BitShares has different POS?

They also copied double "e":
Synereo and Steem

Of course they had to change NXT's PoS into something that was easily controlled by them aka DPoS.


Good catch.

Two roads diverged in a yellow wood,
And sorry I could not travel both
And be one traveler, long I stood
And looked down one as far as I could
To where it bent in the undergrowth;

Then took the other, as just as fair,
And having perhaps the better claim,
Because it was grassy and wanted wear;
Though as for that the passing there
Had worn them really about the same,

And both that morning equally lay
In leaves no step had trodden black.
Oh, I kept the first for another day!
Yet knowing how way leads on to way,
I doubted if I should ever come back.

I shall be telling this with a sigh
Somewhere ages and ages hence:
Two roads diverged in a wood, and I—
I took the one less traveled by,
And that has made all the difference.

OK, so STEEM will soon have the first mover advantage.  Thank you all for participating in my prediction market.  I will invest according to the wisdom of the crowd, because mass adoption is the greatest prize.

Nice try Larimers, but the people in here with an IQ above room temperature aren't buying it.

And those with an IQ double the temperature, are not buying either one.  :P

(I wonder if he realizes that is a statement about the upper bound of his IQ)

I'm sorry but I honestly think that you created this with the sole intention of shilling for steem. If you didn't then you sure do give off that impression. Personally I care less for either projects. I didn't invest in the ico synereo and obviously I was held out from mining steem like the vast majority since the pariah coins require super unfairness.

Even so you're simply as steem shill. I would love to see the usernames of those voting for steem too since I would suspect those are fellow steem shills and puppets.

I only hope people stand together and brand steem a scam. If not you will see a lot of these pariah coins popping up all over the place. Brand them as scams and don't give them your BTC. If they have to instamine whilst apparently not instamining at all (just doing what they have to do not to get a slap from uncle sam) then there should be a cap on this method and it should be transparent.

Relax Pointdexter, AMP and STEEM are not about mining, they are about paying you cash money for posting shit.  They transfer the value add from mining to social media content upload.

Do I want to see AMP & STEEM both succeed?

Of course I do, I own both.  It shouldn't take a genius like yourself to point that out.  Why am I diversified?  Because I don't put all my eggs in one basket.  Nobody is stupid enough to do that.

Hey, now about talking about the topic, instead of hijacking,

Which did you vote for, and why?

So far, neither platform is operable.

Larimers related project right?
obscure launch, obscure fine details
pump to $millions, ignore any of that stuff that happened in the past

worked thus far why change?