Bitcoin Forum

Disclosure: I have a considerable position in the cryptocoin mentioned, and am mining as much as I can right now.

Thought I'd open a new topic to draw some extra attention to the following fact :

The admin of Bter, a China-based bitcoin exchange, is seriously considering adding CNC ( or CHN, depending on what you think the  correct acronym is )

"proof" :
https://bitcointalk.org/index.php?topic=192243.msg2016756#msg2016756

This is very good news. I've lived in China for a few years and I've seen the eagerness the Chinese have in jumping onboard when they see a great investment opportunity. Especially the rich love to gamble on stocks, commodities, real estate, tea ( yes, tea ) and all kinds of Chinese medicine.
It's a huge plus that the coin is named after their country, because the People have been brainwashed to be extremely patriotic.

If this DOES hit the exchange, I predict a skyrocketing CNC rate. Something that will make FTC's rise look cute in comparison.

The one question that remains, is this a scamcoin ?

Sure, starting with a difficulty of zero is effectively a pre-mine, but that fact that it wasn't announced to the general public but was kept to a small group doesn't surpise me at all. That's how Chinese society works. A group of business partners give eachother "face" and do business, excluding people who are not in the clique, effectively out-competing them.

The above doesn't mean that it's a scam. We may  be witnessing the birth of THE asian crypto.. Not having some CNC on your flashdrive may be something you're going to regret badly in a week or a month.

Meh - I am in both FTCs and CNCs; but can't really see CNC really amounting to anything.

It will be forgotten day after tomorrow.

Why do you think so ?

I think you are setting your hopes too high for this one. The author went off the grid (hasn't posted in 3 days) and interest is waning. I find it hard to support when the author hasn't taken any initiative to promote services or participate in the community. It may well be a scamcoin.

Granted there was a lot of buzz when it launched and if the author set up some bounties I think it could have taken off like Feather, but I get the feeling he just mined a few thousand coins after posting it then cashed out later. I don't see it getting much traction on the Chinese side of this site, just a bunch of people posting wallet addresses...

I think the 'disappearance' could very well be a PR stunt though. Satoshi anyone?

yeah... looks exactly like pump & dump coin... the dev dont even bother to interact with the community...

If Feathercrap can have value, ANY altcoin can be worth millions.

What's the history of scamcoins? Could anyone post some threads/list of scamcoins? Let's history help us not to make the same mistakes :D

I'm pretty sure the creator is focusing exclusively on domestic affairs. Asians have a tendency to keep to themselves, especially in matters of business. I fail to see how CNC is any different from FTC other than the FTC community being mostly speaking English and CNC being mostly speaking Chinese.

Might want to check out the sticky in this subforum.

Could be positive if CNC authors went off the grid, where's BTC authors? ;)

Many people work on BTC now and their identities are known. I don't really see how it's comparable, if you are referring to Satoshi well Bitcoin was a real innovation, CNC is just a simple fork of Litecoin with no real changes. Which is fine, but where's the incentive to continue building upon it if the author himself is already calling it quits? I would just create a new ALT, lol.

I just posted this on the Chinese subforums : 我们需要开发商CHNcoin发布更多更详细的信息！ 开发者在哪里？这硬币没有了他就是死物无效的。Bter.com可以用CHN交换成人民币，但他们首先要证明这个不是骗局。

My lovely wife translated it for me. It's basically a plea for information from the dev.

EDIT : maybe someone who can read Chinese ( say... a chinese person ) could watch if someone makes a usefull reply there. It took me 10 minutes to explain to my wife what I meant with the sentence at the top of this post so she's not really an option :)

the problem is even the domestic and chinese (frankly speaking, asians != china) have no clues what is the direction of CNC, and even the chinese hasn't heard from him yet.

yes i can read chinese.
it reads as

"we need the developer to publish more information and details, where is the developer? the coin is dead without him. bter.com can be used as CHN to RMB exchange, but they need to proof this isn't a scam first"

edit: damn... i thought you were asking for translation... apparently i was misread. Anyhow, where is the link to the post?

i mailed them couple days ago, got response. i think they add coin when coin is longer here

Ok i'm gonna spam this here, sorry

WTB 10k CHNcoin, I'll pay 21 LTC per K.

I'm not posting this to start a pump, I;m serious about the offer. PM my dutch ass.

I wont support it because it's still nation stage nationalist crypto. Chinacoin? Why not support USDollarcoin then?

I wonder which government is sponsoring Chinacoin? Hmm...

There should be a Wikisite on the history of scam and failed coins. We need to actually keep records of every coin, how it was launched and the end result after 6 months to a year. Eventually we will need a review site for coins.

The only thing this coin has from China is the "chn" :)  The other stuff comes from LTC and its creators.

Just got a mail from bter.com. They are already testing CNC on their exchange. GO CNC! :)

Funny. After reading all you guys negative replies I changed my mind and sold my entire stash for 25 LTC per k. 7k.

which would now have been worth 21 BTC !

I'm never listening to you guys again :)

You never know. Genuinely surprised they added it, though.

Just got it confirmed by e-mail:

CNC is coming to a second "major" exchange soon (<48 hours, they are setting up and testing).

Didn't get a confirmation, nor a denial, from another one I mailed.

That's great news :)
First FTC shortly after I mailed, now CNC :)

You mean btc-e?  :D