Bitcoin Forum

Let's not offer up opinion on this thread - rather let us talk in terms of hard maths here when discussing the latest wave of scam coins.
Let's really identify the biggest scam coins and highlight them to people on this board so they can avoid getting scammed.

This is not a place to pump the coins you own. This is a thread that will show up the biggest scam coins and help others avoid them. You must provide reason and logic behind your post because else we will not be able to identify scams. You can't just say i hate a certain coin without reason and math to show WHY it is a scam.  What is a scam?? well it is a method employed by the dev and his team to give them UNFAIR advantage over normal miners/investors in an extreme way.  

The old waves of scam coins have gone now we can not do anything to stop those people that whom have already been scammed months previously, and there have been a few bad ones.... however some of these newers scam coins are even worse..

These are not essential in order of magnitude of scam... since people are adding scam coins to the list it would be tough to say which extracted the most BTC from the community.







APPCOIN - this coin is by far shaping up to be another huge scam.... yes i do believe it is worse than stackcoin and thepandacoin.

At first glance to some people who really don't understand crypto this coin looks nowhere near as bad as thepandacoin ...

However - it is a more stealthy scam that is actually a bigger scam than pandacoin. But it is sneaky.

They have created a coin that has false scarcity to try and drive up the price of this coin.  The coin itself has one of the worst designs of any coin so far on this wave.

1. they premined 0.9%  - that doesn't look too bad right ...looks quite fair Huh  NO because the block times are 12 minutes long and the block rewards even then are small. So that 0.9% will be a really HUGE percentage of the minting for a very LONG time. Their plan is to make it a very HUGE percentage until it hits exchanges. So there will be no people around with many coins to dump except them right.

this poster in the appcoin thread seems to have realised the scam

"4mh/s  only get 10,000

0.9% premine 129,000,000

if 10,000 worth 0.05btc,then 129,000,000 worth 645btc

is it fair?

3600/720*24*36,000=4,320,000 the whole network per day

129,000,000/4,320,000=29.86

that is to say, after 30days, the premine coins also accounting for over 50 percentage！

is it fair?"


That's right folks, so by NORMAL mining profit on other coins appcoin devs are trying to say they have pressed copy and paste for 645 BTC Smiley   nice scam hey they must be satisfied with that loot. Also because the coin is going to be rare for everyone else because with 12 min block times and massive diff they drove up with in mins of launch....nobody can stop them dumping because they will be the only ones that have a huge amount of coins to dump so they will control the entire market.


However their greed and scamming does not stop there.


I have noticed on other launches that devs and fellow scammers (probably part of the scam team) are instamining the shit out of coins before anyone else can even download, virus scan and set up the conf file , sync the qt, then get your bat file ready for mining.

So i started asking devs to upload the wallets in pass protected rars so this instamining period was reduced to a min or 2 instead of 5 + mins.

Most devs say yes no problem (the non scammers)  however appcoin dev although talking on the thread ignored many requests to do this...........why???

It is simple why because remember how i said the blocks were on a 12 min target. Well not in the instamining period, they also deliberately made the diff retarget 120 blocks long but then the diff has a very harsh retarget.

So even though others managed to download , and do all the other stuff to sync up and start mining as fast as possible, they noticed hang on THERE ARE ALREADY 100'S OF BLOCKS mined already?? yes hundreds in minutes.... but then guess what happens.....the diff shoots up as soon as normal miners get there and the blocks come in VERY slowly.

You can be sure that later the diff adjust will be changed...why because the diff retarget was only left like it was in order for some additional instamining, they will change that diff adjust now they no longer need it to be 120 blocks.

This is a planned and perfectly executed scam. A lot of people are in on it ....they must be because i can't believe there are that many dumb people to support such a scam.

This is shaping up worse than thepandacoin.....




Stackcoin - an obvious scammer. I called him out asking if this wallet was just a mock up jpg. Asked for the qt ahead of time.... another scammer who ignored the question several times whilst talking about the bonus ipo Smiley

First rule about ipo - NEVER DO IPO unless they do escrow or unless a very long term member of this board. Even then there is no reason for them not to do escrow.




Thepandacoin - well the person you were dealing with is a known scammer. I noticed it at 80 sat and started telling people then wtf this is a total scam waiting to implode, nobody could pump the btc in to keep it at that level. I see it has gone down quite a bit since then.



. visacoin - well enough said really.... scam of scams..... unless the guy really did get hit by a bus since apparently the BTC pot is there untouched.... guess he could come out from coma in a year and create the next big thing.









Please add coins yourselves............. HOWEVER ONLY LIST COINS THAT ARE REALLY SCAMS THAT YOU CAN BACK UP WITH REASON AND MATH TO ILLUSTRATE YOUR POINT.

I CAN'T UPDATE THIS OP MUCH... SO PLEASE IF YOU ARE NEW TO THE THREAD READ THE ENTIRE THREAD FOR SCAM WARNINGS AND MAKE UP YOUR OWN MIND.

IF YOU ARE LISTING A COIN AS A SCAM COIN PRESENT FULL EVIDENCE OR ELSE WE HAVE TO REMOVE YOUR COMMENT.... IT IS FOR YOU TO PROVE IT IS A SCAM NOT FOR THE COIN TO DEFEND ITSELF.

Sorry i forgot to make the last thread self moderated.... so people started just listing coins as scams with no evidence.

isn't it double posting?
https://bitcointalk.org/index.php?topic=484724.0

had to lock that down.... this is the new one.

Posts will ONLY be removed if there is no evidence of scamming given..... we can't let the real scams get buried by everyone just listing coins they don't like that may not actually be a scam.

Please let's just list coins that we have good reason and evidence to back up our accusations regarding scam coins.

For example


x coin is a scam because it had premine of 20%  - this comment means nothing if there was full ledger and it was all given out backed up by block explorer

x coin is a scam because " enter here lots of explanation with some math to back it up for the community to study " = probably a good reason and if community decides its a scam we leave it on this thread.

If anyone does not agree with the scam coins i have listed and can give good reason they will be removed also.

So far people had listed marine min and pre mine.... however we really need more indepth reasons why so from now on let's prepare a really good case for why a coin is a scam then we put it on the OP and leave it to warn others.

Sad to see so many scamcoins.  >:(

Almost all coins which were released the last days/weeks.
Maybe it's more useful to make a list of the good ones, because this list is more manageable.

Good, fair & promising coins for example (my personal impression):
Vertcoin
Premine Coin
Microcoin
Myriad Coin
InsanityCoin
Mintcoin
Leafcoin
Karmacoin
Huntercoin

Let's though try to keep this as just a warning page for serious scams that come along. Not about coins we think are good.

d

I vote for smartcoin, the biggest pump and dump of the last month probably.

And maybe mintcoin if this coin wouldnt work and dev will say only sorry, IPO melted down, no reason to repair it.

Yeah rubycoin obvious scam launch

[BTG]Bitgold
see the IPO thread
https://bitcointalk.org/index.php?topic=391507

Yup bitgold looks bad they deleted the OP..?

RUBYCOIN - i just notice they copy and pasted 500BTC in 5 mins flat.

dont forget the re release of mnc..huge premine on first release and then change a logo and new coin... pump it on release and scam away...

All except Huntercoin. I'm going to amend this list if I see a good one :).

A lot of people mentioning this one.... i luckily missed it, wasn't really aware of it until hazard mentioned it before in the other thread.

Looks like ruby scam and that app one are fading .... good bye scammers.
They probably screwed some noobs out of BTC and electricity... but hopefully they will have died out soon.

They will be back with a new coin.... let's hope they decide to be a little more fair next time.

All of them in the last six months have just been ways for the developer to get rich off of speculators.  Trash coins.  And then on the other hand there is NxT which is addressing real issues, with a real code, so in the future it might even take on bitcoin!!!

Well, yes, but there are a few exceptions. Some devs seem to make coins for fun. Take for example BEECOIN which i support, i can see no way the dev made ANYTHING at all from the launch or this coin at all.
However yes most do not have innovation.  So there are a few that are not scams nor really made to enrich the dev at all.

But let's just keep this thread to only naming and shaming total scam coins with evidence to support our claims.

iCoin to me is the big unknown. Like the twilight zone.

+1 rubycoin, mined all night from launch and get ten shitcoins.

this

Huntercoin is the only new thing here, the rest is copypastescam

Yes, huntercoin of course if great. HOWEVER this coin is not about innovation, it is about deliberate scamming.

We can't expect the noobs to stop mining copy and paste clones but we can aim to shoot down the worst offending outright scams on here.

I agree, don't flame the job behind Huntercoin.

By huge, surely you mean "EPIC" proportions :p

d