Bitcoin Forum

One of BTC-e or Balthazar is lying about the premining of NovaCoin, a scam cryptocurrency.

Exhibit A from BTC-e.com (who was bribed with premined NovaCoins so they will accept this scam currency):

"110K premined NVC is successfully destroyed !"

"Hi all. As you know, BTC-E received 110k of coins before NVC was publicly released. "

https://bitcointalk.org/index.php?topic=144158.0

Exhibit B from Balthazar (who thinks he should be the next satoshi by just copying other people's code):

"I mined this coins + ~35k for the stake, and given it to exchange as of a guarantee that I'll not dump it. So, there are not only pre-mined coins destroyed, my normally mined coins destroyed too. I have nothing else to say."

https://bitcointalk.org/index.php?topic=144158.msg1530118#msg1530118


The statements from the scam cryptocurrency creator contradicts the statement from the dubious bitcoin exchange operator. Balthazar claims there are not 110k premined coins, but BTC-e.com admits they have received 110K of premined coins.

LOL Balthazar and/or btc-e are now scammers for creating a coin you dont like??? Get real ppl, get real...

And by the way learn what open source means, you can create one too, and then should i open a scam accusation? Other than that i dont (personally) agree on that accusation, plus it gets funnier day by day.

Edit: if i remember well, you have said on a pm that you gonna create your own coin, that means insta-scammer?

Edit2: If you can read, those coins are destroyed, what is your problem now? You want nvc removed from btc-e? Im sure that is the cause.

there is WAY more to this story and it does need to be looked into.  Also they claim to have destroyed these coins, but as far as I can tell there is no proof.

https://bitcointalk.org/index.php?topic=143562.0

definite admitted insider trading

How much you get paid for BTCE defense lol ? I dunno even my sister 5 years old can understand the scam easily...

Step 1 : create a coin and premine it, no release it directly...
Step 2 : bribe your friend owner of a big exchange
step 3 : manage the price with fake orders to put the price very high
step 4 : then sell your coin for a lot of BTC

I know you will tell than step 4 cannot be done as 110 k destroyed (actually nobody have the proof about that), but even if done there is 200 k premined or like so its still 90 k somewhere...Then delet 110k coin and you make the 90k coin worthing much more...

Watch out Balthazar, the Bitcoin Police party van is parked outside BTC-E headquarters RIGHT NAO!

No one can possibly take a look at the actions of btc-e and Balthazar during this whole mess, and NOT see that they are pulling a scam on the customers of btc-e.

This is NOT just a alt-coin issue, people are being scammed out of BTC as well.

Balthazar or BTC-e is commiting fraud by lying about the amount of premined coins. Oh, so half of Balthazar's scam coin stash is destroyed, it's all good!! No, that doesn't change what happened

If I were to create a cryptocurrency, it'd be decentralized with 0 premined blocks.

1: No REAL proof that the coins are destroyed
2: No REAL proof of amount of coins premined.
3: You dont get to destroy money when you get caught committing fraud, and everything is ok now.
4: Anyone can clearly see the price manipulation going on with NVC at BTC-E  3448.62507876 BTC in buy orders? come the fuck on.
5: ZERO information on the owner/operator. Some guy in Russia in NOT good enough for someone holding that much money.

NO ONE can deny that that Balthazar gave btc-e 16k USD (a few thousand more or less depending on btc and nvc price)in premined coins, then poo...f it gets listed at a high price on BTCE. They both, btc-e and Balthazar freely admit to this. In any real financial exchange this is a felony!

This is just the stuff that we know about. We know about it because they admit to it. Not right away, but one the pressure came on them.  I cant understand how anyone can trust these guys with any amount of money.

A scammer tag for btc-e AND Balthazar are 100% justified, ONLY on the issues that they freely admit to.

Sounds like it.


Why, though? Just some random alt chain nobody uses and likely nobody will use. Balthazar guy is not in the WoT afaik, is not active on the forum afaik, what's the point? If they ever come up to list a security or something it's a valid concern, but otherwise wasted breath neh?


Or maybe explain this for my benefit?

They steal at least 16,000 usd from their own customers with nvc, and its no big deal?  I thought more of the community than that.


Its been over, but give me a few minutes to drink my coffee and Ill go over it again.

Balthazar  (who is a mod at btc-e) forks a broken coin (PPC) and premines it.

Then releases it in Russian only (BTC-E). Even though he speaks English, he doesn't tell anyone in English.
ADMITS that he made the coin as a JOKE

Then sends 110,000 coins to btc-e (Approximate value $16 thousand USD)

NVC gets a button (featured and promoted) on the front page of btc-e
THIS IS A FELONY!

Price sky-rockets!

OBVIOUS price manipulation on BTC-E

None of this is denied.  It is all documented and admitted to. AND this is only the part they are telling us about. 
The only argument anyone has to this insider trading, bribe, scam, is that people are only upset because they weren't in on the scam from the beginning.

BTC-e, once they are caught accepting the bribe, they "claim" to have destroyed the coins, but this can not be confirmed

AND

Btc-e is an illegal currency exchange.
 
International anti-money laundering laws for one.   I admit that I am not an expert on the law, but from what research I have done, btc-e is NOT licensed and does NOT have permission to be a currency exchange.  If your respective governments find out you have been using btc-e you could be in big trouble.  This is a black market exchange

http://hotnerdgirl.files.wordpress.com/2011/02/183434_166560253393289_119617241420924_308971_1486864_n.jpg

You need to learn something basic info about bitcoin and other cryptocoins technology, before posting such bullshit.

https://bitcointalk.org/index.php?topic=144158.0

There are all proofs, if someone can't understand it, it's his own problem.

P.S. I wonder to see, how you will try to restore coins, which sent to hash of "0x04000000000000000000...0000000" public key. Let's make a discovery in cryptography. ;D

Thanks for reconfirming that you did indeed pay btc-e a bribe.

I understand the process of destroying coins by sending them to an invalid address, and I will be more than happy remove "this part" of my scam accusation if you can prove to me that the coins were actually sent, and to a invalid address.  Is there a nvc block explorer?

Are you even reading the thread?  I guess the people dumb enough to send Pirate btc deserved it for not checking him out first.

Oh my God. You don't need explorer. All you need is client and txid or blockhash, nothing more.

And this is just beginning. Again, try to learn something useful from bitcoin wiki, instead of posting messages like this. It's an internet, no one there concerned by question "will it make you happy?".

Can you explain your point of view on difference between bribe and guarantee? Thanks for the reconfirmation of your prejudicialness.

May I ask you, how much did you get paid for your hard work on this forum? 300/500/1000 LTC? Is that enough for platinum client of McDonald's?

I'm asking you not for trolling, and really interested. Because PR usually very well paid... I need to know, how much I need to pay you for your excellent service, because I don't like to be in debt. :P

His goal is earn some money. [Typical_PR_scammer.tiff here] :D

this is the biggest fail of a scam accusation evar.

failingbare and co. are merely repeating the same bs over and over, and assuming all who disagree just haven't read the thread.

now the goalposts are moving as they retreat from the narrow original complaint to a much broader "money laundering" accusation.

everyone following this drama sees the obvious butthurt being caused by a second scryptchain.

Same.  

How is there $100,000 worth of NVC 'buys' on the order book?  For a week-old coin?  100% scamsville.  Pump and dump in my opinion is a scam, if the entire goal of the coin is to do this...  But that's just my opinion.

In this situation, nope, I see no difference at all.  Maybe this is a language problem, but you can call it whatever you want... when you give someone funds, in exchange for favors, thats is a bribe.

laughingbear

I don't care about exchange's business. Also I don't care about your emotional condition and your fantasies or conspiracy theories. I'm free to do whatever I want, without asking someone for permission. MIT license and constitution gives me this right. If you don't like it, you are free to pass on, constitution gives you that right. Is that clear enough? ;)

P.S. If it isn't clear because of language problem, I have a generic link for such cases.

Introducing another coin onto an exchange without providing a way to trade LTC against it is wrong. LTC/BTC price is depressed due to the incredible rise of BTC and NVC takes some of the underlying price supports away from LTC and those holding LTC are screwed while those couple of people with NVC cash in. To fairly introduce another coin the exchange should have allowed it to be traded against the existing currencies that people are already holding not lock them out or only provide the option to trade with their greatly depressed LTC/BTC holdings. Until now BTC-e was an impressive exchange where I always felt fairness was important. Instead I am sitting on the sidelines watching others participate in something I would have to take a large loss in if I too wanted to join in. I use this exchange for the trading of LTC, now I must find another exchange aware of this NVC fiasco where integrity and fairness to loyal customers is important.

Hey, you said some things that are true. 

Im having a hard time picking just one of these over at the sec website....

Please select the option that best describes your complaint:

Fraudulent investment scheme, such as a Ponzi scheme or the promise of high-yield returns
Unregistered securities offering
General trading practices or pricing issues
Manipulation of a security
Insider trading
Material misstatement or omission in a company's public filings or financial statements, or a failure to file
Municipal securities transactions or public pension plans
Bribery of, or improper payments to, foreign officials (Foreign Corrupt Practices Act Violations)
A specific market event or condition (please describe below)
If your complaint does not fit in any of the categories above, please describe below


Any of you legal pros out there... is this (sec) where I file a complaint about a violation of the (KYC) money laundering laws?

 :D  Bwahahaha!  :D

Too bad that list doesn't include your real complaint, which is butthurt over the emergence of a second scryptchain.

FYI, the SEC has no jurisdiction over Ukraine.

Even the stalwart, normally phlegmatic Bitcoin Police are shocked at your stupidity.   ::)

https://bitcointalk.org/index.php?topic=144158.0
[NVC] Public destruction of 110 000 coins

Hi all. As you know, BTC-E received 110k of coins before NVC was publicly released. There are so many trolling about this, and we  decided to destroy it.


20.02.13 01:58:48 laughingbear: anazing that such a new "trollcoin", that you can buy absolutely nothing with, is so valuable. could it be that it has ties to this exchange? good thing that no "guarentees"/bribes were given behind the scenes or some people might be upset

20.02.13 02:01:54 Balthazar: laughingbear, it's may be true for you, but not for another people


20.02.13 02:05:04 laughingbear: Balthazar, how much of a "guarentee" was paid, to add ltc to this exchange?





20.02.13 02:09:41 Balthazar: laughingbear, There was no "payment". Destruction of coins was stipulated by the original agreement .

20.02.13 02:10:19 laughingbear: Balthazar, you are so full of shit

20.02.13 02:10:29 dstruct2k: (PS - the "original agreement" was written after the coins were destroyed :trlf:)

20.02.13 02:10:30 laughingbear: constantly changing story

20.02.13 02:10:36 Balthazar: OptimusS, You are free to do what you want.

20.02.13 02:11:00 OptimusS: Balthazar is a nice guy actually but this novacoin fiasco reminds me of scamcoin

20.02.13 02:11:04 Balthazar: laughingbear, in your fantasy, maybe

20.02.13 02:11:14 laughingbear: do us all a favor and make up your bullshit ahead of time instead of changing your story every step of the way

20.02.13 02:11:58 laughingbear: its insulting

laughingbear

http://mycompellinglife.files.wordpress.com/2011/10/blahblah.png

Either you have no idea whereof you speak, or it really has been made for special people such as you.

There is a lot of information about current subject, including numbers and proofs. But you are ignoring it continuously, because it causes crash of your theory.

 If you like present himself as a clown, or if you prefer conspiracy theories (which is the same), then you are free to satisfy yourself in your own way.

P.S. If you can't understand, I mean that everyone have his own "truth". Only fanatics believe in existence of "absolute truth". And also, fanatics usually believe in a lie, which they invented. Sounds familiar? The way of fanatic always ends in the psychiatric clinic.

 110K premined NVC is successfully destroyed !
February 14, 2013, 11:46:33 PM
Hi all. As you know, BTC-E received 110k of coins before NVC was publicly released. There are so many trolling about this, and we  decided to destroy it.


20.02.13 02:09:41 Balthazar: laughingbear, There was no "payment". Destruction of coins was stipulated by the original agreement

February 15, 2013, 12:16:25 AM
No, it's not my decision, I only recommended to do it.

There are no losses, and motivation for project is slightly different from smoothie's trololo. Of course, I'll continue working on it. Smiley
Reply


on: February 14, 2013, 10:51:48 PM
Too late, because btc-e decided to destroy this coins. Cheesy


on: February 14, 2013, 03:59:33 PM
I'll happy to do it, but this coins was sent to btc-e, as a guarantee of stake. Only btc-e can do this now.


20.02.13 02:09:41 Balthazar: laughingbear, There was no "payment". Destruction of coins was stipulated by the original agreement

someone else made this, but I like it...

http://img826.imageshack.us/img826/8853/infographic.jpg

This is the part I don't get. How are 110k, or mn, or trn coins of a PPC scamcoin clone worth 16 dollars? To whom? Where? WTF?

I mean I get it, they're trying to cash out on btc-e's reputation or w/e, userbase, by selling them some shitty noncoins. But still. 16k? Wtf?

Using current prices @ BTC-E

Amount NVC:    110,000

Price per NVC:    0.0099 BTC

Total:    1091 BTC           

Price per BTC: 29.2 usd

Total: $31,857 USD

I don't know that I'd call this a scam exactly, but it does have an unpleasant aroma. I won't be using btc-e until this crap goes away. It's difficult to believe anyone would trade a BTC for 78 of these useless coins, but I guess there truly is a sucker born every minute.

Vircurex will surely benefit from this idiocy.

Well I find it a scam because they just generate these coins out of thin air. If they're worth .005ea *110,000 = 550 BTC * 30$ = 16,500$ that they made out of thin air like that?

Maybe not a scam perse, but at least a sketchy tag or something.

making your own coin, and selling it would not be a scam.  Even If btc-e itself would have made the coin, and promoted it as hard as they could, I wouldnt have a problem with it.  The fact it was premined in amounts of over 30k USD at this point, and paid as a bribe to be featured makes it a scam.

Oh I see what you mean. But still, that's pretty much extrapolation, I doubt there's 30k worth of interest to actually do that trading. Then again, if everyone ignored the problems there might be, so.

Buy orders

Total BTC: 4690.20443755

And that is just right now, and just on btc-e

With the price of this brand new coin so high so fast, even to a newb such as myself I feel something is off about the whole thing.  I don't understand enough about any of right to say what but I don't think this little soap opera is going to end well for either alt coin.  That's probably the worst part.

I have a very bad feeling about this. Starting to withdraw my funds from btc-e.

NVC @ 0.02464/BTC  up from 0.003 last week.  Something is happening. But it's an alt coin no one seems to care?  Someone is making a lot of BTC off it.

It's called a pump'n'dump, quite simple. Balthazar is buying up all the NovaScams on the market, waiting for people to accept the newer inflated price and them dumping all his coins and making a new cryptocurrency.

Yes I know what it is, but I do appreciate the lesson.

Yeah BTC and NVC seemed like they were being pumped up for the past week or so by someone.

NVC is a complete scam. BTC-e I thought I trusted. But given their support for such a scam coin I'm not sure anymore.

for once I agree with you. NVC is pure BS. Equivalent of solidcoin status.

Get your Baldthazar NovaCoin Master Tee for $12.50! PM me!

http://image.spreadshirt.com/image-server/v1/products/104980828/views/1,width=280,height=280.png/baldthazar-t-shirt-351.png

At least gox has some depth. I find it hard to understand how there are nearly 5K in BTC buy orders
The recent NVC high was .0225 NVC/BTC

* 110,000NVC

= 2750 BTC and at the recent BTC high of 31.3 = 86,000USD.

??!?!??!?!

Yes I too am very jealous here but really what can be done. Wish I coulda mined some too. The area is so gray.

I lolled.

heheh ppl still cry? 90% of you that were bitching are already in the pools
GET OVER IT (im talking to the other 10% who still cry)

Up!  :D

So I see a bigger problem in all this... enableing.. Everytime a new altcoin comes along people attach themselves like leeches to a warm body. The huge red flag when it came to this coin was it just all of a sudden appeared. That exchange killed the trade of most of the altcoins awhile back because of lack of trade intrest. in my mind  it should've been fishy when a phantom coin all of a sudden hits the trade market.

Of course then the "WTF" starts. Individuals begin hunting for the code and soon enough after a nice rigged price hike what do these individuals do? they enable it by tradeing without proper research.

Does it suprise me? Hell no this same exchange traded and is looking to trade RuCoin again. We all know how big of a cluster fuck joke that is in itself.

I'mp rayingthat in the long term this turns out to be one of those common sence.mistakes on the part of the exchanges owners. It's kinda like all the gas stations that began to sell "Spice" only to find out it was a harmful drug that was rejected really quick by a large percent of the public. I think what saved a lot of heartache with that example was a slew of company owners had the product pulled from the planogram before laws wher made makeing it a controlled substance.

I believe if BTC-E was truely not guilty it would have removed the trade of this coin and in this case found a way to reimburse those who invested into it.

Maybe because I like clowns and I want to see the next season of this drama?  ;)

Many worthless words without any proof, trolls seems like a zombies. "Premine... Premine... We are hungry and need premine". That's more than funny, because the clowns actually have nothing to say. Especially about premine, which was public, never exists in the specified volumes and was destroyed using my instructions. Oh I'm agree that it's hurts for them... Anyway, nonsense's author sooner or later will be ashamed of yourself. No one cares about troll's feelings, because it is possible to break the balance, but it doesn't last long. Because the truth is always on the side of right, and they afraid of this. :P

But this isn't a tragedy for them, they able to just wipe their snot, and move on. A year later this shame will be forgotten by the community. Especially if they dedicate themselves to useful work for this community. :)

There is a flaw in your sentences, this situation has nothing similar to RUC. If you want additional info, we can talk in PM. It's not information thread, it's trolling one. :)

Screw god damn btce.

Their site is always down.  garbage.

THink I might be putting my foot in it here, but one semi related question I have is, if I dont see unconfirmed transaction immediatley for an address on blockchain.info, can I conclude no transaction has taken place?

No.

Thanks for the quick response bitinvestor, you legend, that's a weight off. I had a transaction sent over 12 hours ago now but still no confirmations, is this normal at present?

No, it's not normal. Contact the person who sent you the transaction.

think I've seen the cause of it now, one of these is the likely address sending it https://blockchain.info/address/1AdvcxSNdxdbRLquZdr9R2F29j7qAJRMY

Ok I trust you fraking pedophile

Up

UP! ;)

http://m.youtube.com/watch?v=q_fRVtcQq2k