Bitcoin Forum

I have been tracking Swisscoin for a while now and it went from 10sat to over 200sat and all of a sudden today it just crashed to 1sat. Anyone know why? Their twitter account just twitted 13 hours ago. It's so complicated to understand crypto.

Did they get unlisted from an exchange?

The same happened to a few coins on poloniex that got delisted earlier this year.

No they were listed on coinexchange and they were in the process of listing on one of the exchange in hongkong. I am thinking hard to buy at 1sat and let my investment go down the trash or either make a high reward if it was just a temporary whale dump

It is because it is a big scam. No Trader would dump that low. That is in my opinion the dev behind this dumping all his holding to 1 sat.

The currency may be a scam, with sharp fluctuations in short-term prices and lacking the currency of a large exchange, most of which are deceptive and need to be treated with caution.

interesting,

25 btc sell order at 1 sats. people buy it and it down.

somone put 25 btc sell order to 1 sats again  & again

I think this is scam coins because it dump up to 1 satoshi,full wall on sell order and no buy order in the market
Avoid this coin because it's junk

It's a pump and dump coin with no value. It had its pump, now it's dumping time.

The best explanation would be either just large holders dumping the market to literally zero or the devs going scam and selling off their premine or whatever. I have only heard of this coin through coinmarketcap and nowhere else, it's not very popular and has no new tech.

Overall, unless you know for sure that another pump is coming soon to revive this market, long term this coin is doomed.

You think this way of thinking is a gambler thinking.
You should not only see the price of altcoin, you should see its meaning, we need to do is the value of investment. Swisscoin's team is still alive, updated on github, tweeted, and I think that's great and should continue to hold it.

put 25 sell order at 1 sat again

this is 4th time

https://www.blockexperts.com/sic#
can anyone explain this? may it was hacked?

yupp it's basically the same cycle repeating over and over. It might have been hacked

That's the first thought it came to my mind when I looked at it but the devs have not made any official announcement yet, maybe because they are dumping it as well.

There have been reports about it being scams but the devs have been in the project for quiet a while now. I have other alt coins for my long term portfolio but was looking to make a quick turnaround on this one.

Swisscoin is a scam from the day one, the dump is a good exit scam, I have been waiting for this to happen for a long period of time, just look at their model, it is clear for all to see

yupp it sure does look like it. I did make some out of it and I have a small position on it now that I am willing to risk. It looks like they were hacked but the official statement is yet to be made, hope that's not the case.

I think It will be back strong... 

I think it is an exit dump by the team, some people were speculating that there was an hack which I do doubt, because for transparency sake the team should have come out to make official statement on what truly happen

SIC was attacked. Now DEV is trying to solve this problem.
You can see the Money Supply in Block Explorer https://www.blockexperts.com/sic
Dec 24 2017: 82000000000.00000000 (82 Bil)
Now: 10200000000.00000000 (10 Bil)
70 billions SIC were burned
And in Coinmarketcap https://coinmarketcap.com/currencies/swisscoin/
Before: 2 bil
After: 10 Bil
10 billions SIC is the right number that DEV did say in this page
https://swisscoinhub.com/start-investment-swisscoin-cryptocurrency/

Some official statements have been sent by email and on Facebook. SIC is created by an existing company in Leipzig. Would be very stupid to exit dump if everybody knows who you are, don't you think? There's still something like judicial responsibility. I would buy more, now that it's low. Not a lot to lose.

They were attacked? What happened? I cant find any info about this. For me it is looking very strange, Never saw this before

Start doing your homework noobs.

That is a pretty spectacular fall

One thing I learned about the cryptocurrency and crypto-token world is if you have questions about a token, especially if its not that popular you are much better off doing your own sourcing and research because the conversation almost always gets dominated by one or two cronies who have nothing good to say about it anyway. This could ending up costing you a lot of money you might have earned in the future by getting suggestive information and reacting to it wether positive or negative. I always do my own research on a coin, also giving the price u probably dont have to much invested in swisscoin, in other words you probably have a whole lot more to gain than loose, which is a good tactic in my book with this market. It reminds me of bitcoin when it had its huge dives years back alot of negativity would flud the discussion forums as to the same highlights, ponzischeme, hack, finaly bitcoins ecposed, oh and the best one of all, "BITCOIN IS DONE FOR, HISTORY, SO LONG TO BITCOIN"!. Now look at it. Beleive me nuthn is wrong with the negative opinion, its just as meaningfull as the positive one, but we tend to gravitate to the safety of the negative one and stay away, its in %75 of hour programing, the fear of the unknown. So do your own homework, take others feedback very lightly and make sure you have more to gain than you do to loose, especialy in this market, its only 10 months old, there are no experts yet, you have a whole lot of people who stared and watched bitcoin and a few others , lightcoin, eather move up and down for a few years and all if the sudden we have ICO'$ less than a year all this has been goin on, so we are all equill pioneer's, even if you just started learning this stuff this week, we all will be the experts in 4 or 5 years for those of us who stay involved from here on out, we will be highly saut after and our advise will be paid for.

Thats pretty funny, LOL, the guy with the orange pants, he probably spent acday and a half shoping for that outfit, ill say if it is a ponzi dump, my money is on him having the keys to the vault, he eather thaught the whole sce s m up from scratch or he is the FALL GUY.

I bought a handfull of this coin, and will buy more because i believe in it. Dev should update hub or social handles for reassurance.

I don't think it's on sale right now :)

What is to talk about here I don’t understand. See the capitalization of this currency. You and some other guys are only men who hold the coins which have this name. It is like a brand in finance world.

Swisscoin had been exposed as a very likely scam several times on this forum. Now the facts seem to have proven those voices right. Pity for who didn't listen.

I think you might have missed out on some of the news. There is a fork being processed currently. You can follow everything on CoinExchange Twitter account. The old currency will remain in stock and people who bought after the hacking will receive the new/forked currency.

Those devs do a horrible job though.  ;)

This coin is definitely scam!

I'm admin of several websites, and our spam filters caught hundreds of emails sent from hacked account worldwide with same text, advertising SwissCoin.

Here it is:

So we finally got the long expected news yesterday. Since the news didn’t clarify anything or had any real value, I had a chance to chat with Mr. C (who presented himself as developer) in the telegram group and to get some of additional answers.

This is the summary of our chat, which I posted in that group.

So here is my view on today’s news:

Basically non of my questions were answered:

Let’s repeat them:

1. ICO coins - no answer
2. The company registration paperwork - no answer
3. Number of ICO coins to be distributed - no answer
4. Initial whitepaper - no answer
5. Roadmap - no answer

So it seems that we should finance again some new projects, which is yet to be announced.

The old company is sold to new investors, but we don’t know what they plan to do. We don’t know the developers, and the projects.

This all could happen.

Usually when we have normal ICO, it takes at least 2-3 months to launch anything. And since we are starting from the scratch, then additional 2-3 months to prepare the plan and the team. This is more or less in line with the today’s message.

So the best I could say is that we may see the price to remain in this range for a while. You can earn some money by trading (or pump and dump).

However I still don’t see any intrinsic value. I’m open to evaluate the project again when the roadmap is released.

I wish you all luck!

And in the end my post from today, so you can compare the news with.

So here is my view.
0. MLM promotion
As far as I know, only some of the leaders earned nice fiat money. Others are blocked and accused for fraudulent behavior. If promoters believe in project they should have been paid in SIC. In this way they would be motivated to keep the value.

1. The value of SIC is now only speculation based on the expectation that the coin will have the utility or application in the future. Based on the whitepaper we have very limited application. And that’s staking. Staking is not working currently.

2. I was very in favor of staking, as a tool to keep the coins of the market. Then I asked several times in the past, from where are we getting the rewards for validation of transactions. Since the transaction fee is very low, those coins are coming from somewhere. At the beginning, I thought that the max supply will remain the same. But it’s increasing for the inflation. Currently the inflation is 15% yearly. This is rather big, since we are not storing any value.
The better solution would be to use coins locked by the company for rewards and not to increase the max supply.

3. Merchants. This was nice idea but the competitors did the job on time and there’s little chance that this will be a big breakthrough. There are now projects which enable use of multi crypto currencies, even spending your crypto with MasterCard.

4. They broke every promise made in the whitepaper. The most important, they haven’t released the ICO coins before the trading. The biggest mistake ever!

5. We don’t know the people behind the company. Every ICO is promoting theirs experience and developers. Using their bio and LinkedIn. Here still nothing.

So when we here some news, it’ll be only the speculation again. The intrinsic value still depends on the delivery. And till now the delivery of results is zero!

Disclaimer: I closed all my positions in SIC, and have no emotional attachment to it. I earned and cashed out some profit, and covered my ICO costs. Until we receive a new roadmap I’m not going to analyze it anymore.

After the hack, SIC team has recovered. But the price is far away from the time before it hacked. Now its around 12 satoshi

Hi.

The real Swisscoin is this one: www.swisscoinlab.ch (https://www.swisscoinlab.ch/?ref=NunoFunico) 100% Swiss

Please see also the presentation video in https://www.youtube.com/watch?v=jIdiSdE7c2Q&t=1s (https://www.youtube.com/watch?v=jIdiSdE7c2Q&t=1s)

The "Real" Swisscoin is the safest and more profitable cryptocurrency in the world. Is also the faster and most uncomplicated way to enter the world of cryptocurrency.

Swisscoinlab is laying the groundwork for a new generation of safe and profitable currencies, all with the supervision of the Swiss institutions. Trust and investor safety are crucial.

Thank you for your time.

1. ICO coin release : The process of claiming your ICO is happening (from 27/6/2018), contact support.de@swissfintechdev.ch
2. People behind the company : https://www.swissfintechdev.ch/
3. The company registration paperwork
 https://www.zefix.ch/en/search/entity/list?name=Swiss%2520Fintech%2520Development%2520AG&searchType=exact
4. Website relaunch: https://www.swisscoin.community/