Bitcoin Forum

Due to tragic circumstances, GreenCoin has been canceled. We are now beginning the process of refunding all investors. Please read the following post for more information: https://bitcointalk.org/index.php?topic=499080.msg5580893#msg5580893

This isn't where I parked my miner.

Edit: Looks similar to mint/interesting.

Double edit: Distribution in confusing.

escrow? https://bitcointalk.org/index.php?action=profile;u=3028

50% to IPO investors, 50% to miners. Mining period will last between 2-4 weeks, and the mining reward you can expect to receive will be steady, no matter how many people are mining. This is in contrast to other coins where the average reward decreases as more people are mining the coin.

pool-

No plans to deal with escrows due to how we have the system set up. I'll give you a quick rundown of it. When you place an order, you give us your GreenCoin address, and you're given a unique payment address. This info is all entered into a database. On launch day, we can run a script that will go through the DB, check if orders have been paid for, and pay out an appropriate amount to each person that invested. The whole process is really easy for the users, and it's even easier for us when it comes time to pay everybody out, no matter how many investors there are.

Should have one available at launch. :)

Would invest some if willing to escrow, but based on previous post doubtful.

BEWARE! MOST IPO'S ON THIS FORUM ARE SCAMS!

Name:   Drexel
Posts:   4
Activity:   2
Position:   Newbie
Date Registered:   March 03, 2014, 06:13:12 PM

The coding of the client is already complete. You can see some screenshots at http://getgreencoin.com/greencoin-ipo-redemption-instructions/. Not sure how else I can alleviate concerns without releasing it.

this coins have all turned into ponzi schemes. ...

such a fun game. who can sell least!

Me? I'm just the fellow tasked with being the front-man. As for the GreenCoin Team, that would be composed of myself plus the other 2 individuals working on this project.

Whois protection comes free with domain registrations these days. There is no reason to not have it. Even more so when you're involved with cryptocurrency. We're all playing around in uncharted territory here. Having your identity exposed is a liability. But if you don't mind, then why don't you tell us who you are? :)

No one is forcing you to invest. Weigh the risks/rewards and decide accordingly.

Ooo, another Stackcoin for those who missed out on the earlier one...

We will be very happy to prove you wrong. :)

In the case of stackcoin, all payments were directed at one address. The problem with doing that is there is no way to prove who sent what. Transactions are all public knowledge, after all. I could just watch the block chain for incoming money, and then claim I was the one who sent it. No one else would be able to prove otherwise. This should have been a big warning sign that stackcoin never intended to deliver on his promises.

+1000

http://green.bondni.com

Right, so how many of the 1 billion are distributed during the 3 week period, and then the POS period? The way I read it was that the 1 bln is mined in three weeks, then during POS period we  ??? ??? ??? in a p2p fashion.

All of the 1 billion comes from the 2-4 week mining period. After that, PoS is used to run the network. There is a 2% yearly stake reward to support PoS mining.

2% annual interest?  PhilosopherStone has more than that in monthly interest with 50% interest per year.  And the total number of PHS will only be in the single digit millions.  Why did you set the stake interest so low?

50% yearly interest causes hording which is unhealthy for a currency. 2% interest is a modest amount that doesn't encourage hoarding, but still offers some incentive. All variables have been carefully chosen with long term sustainability in mind.

Blackcoin is 1% interest, so not that low.

The MH/s thing is kinda like an IPO, where someone might decide to suddenly mine a lot an dillute everybody's share. I wonder how it will work out.

That's what we were aiming for. Think of it like an IPO that you buy into using hashes. ;)

This sounds like a copy/paste mintcoin

Hardly... The distribution mechanics are totally different.

I think the concept is interesting, but an IPO of 50% for "collected from the IPO will be held and spent transparently by the GreenCoin Team to further develop and promote the coin." is shady. Why would you as the developer get 50% of the market share? It's not even for a good cause (other than yourself) :S

another scrypt clone with a slightly modified distribution.

epic fail.

give us something innovative.

no more scrypt, please do not bump this POS (piece of shit) thread.  let the scrypt clones die

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another IPO stuff..but i will say you this:FUCK OFF!

they always starting with how fair the distribution is bla bla bla...and then show their true face so quickly---> buy it or you will get nothing!
the most fair distribution so far i have ever seen is Coin2...althought that is far from 100% fair yet however it start a good concept :SHARING IT  FREE WITH COMMUNITY BEFORE IT HAS ANY VALUE...this is important bc there are still tons of ppl outside there knowing about crypto currentcies but they won`t want to step inside..why? ask yourself a question..wth should they buy these crypto coins for while they are still nothing to spend on yet?(exspecially new coins)..most of them not interesting in mining or decentralize stuff etc..but they will buy and use it if its really have some convenient applycation..but before this..if anycoin that ask you to buy it just bc it promising it will have value blablabla or claim that how innovative it's coin blablabla..let me tell you ..99% of them just interesting with the money in your porket..they don`t actually care to improve the world.

1. This could be a scam. Stackcoin also has a nice screenshot.

2. If not, there is no profitable potential to invest on this copy-paste. Anything new ? No!

3. Similar to Blackcoin with PoW+PoS, but with a 50% premined. Shit! Oh, no ! No premined. Now "premined" has been dressed up with its new clothes "IPO".

We've seen some nice photoshopped pictures with stackcoin before. Sorry mate but this means nothing. You're about to ask for a lot of money how about some company details your real name address and proofs of that instead.

interest ing....

give the ipo coins for free like aurora coin. you will make more than the ipo

There is no fair way to distribute coins for free on this website. There are too many people that have dozens upon dozens of fake accounts they use for giveaway threads. We think we've come up with an very fair mining distribution algorithm, but that still alienates those who aren't miners. Hence the IPO. So investors/speculators can participate as well. This is set up so that no one can cheat the system.

Promoting a coin takes time, effort, and most of all, money. All BTC collected will be funneled towards activities that improve the value of the coin, which is a good thing for both miners and investors alike. Don't underestimate the value of proper marketing. Dogecoin for example jumped from a 10 million market cap to over 50 million after they spent $30,000 on the Jamaican bobsled team. A $30,000 investment led to a $40,000,000 increase in valuation. Impressive right? But that money has to come from somewhere. That is what we hope to accomplish with the IPO funds.

Right now we have 2 investors for a total of 0.35 BTC. If that is all there ends up being then lucky for them.

For such a big IPO you need clearer goals. What's in it for you, for example? YOu are bound to keep a part of the BTC for yourself. It would make more sense if you would donate 90% to some environmental charity, keep 9% for promotion and 1% for yourself.

We are each investing a small amount into the IPO, as well as participating in the mining period... And leading a coin has it's own set of intrinsic benefits, naturally.

Donating 90% to a charity like that would accomplish nothing for holders of the coin. Doing good is one thing, but we want to generate buzz as well. Dogecoin nailed it perfectly with the bobsled team, we hope to do an encore. ;)

Quick screenshot of the backend of our ordering system.

https://i.imgur.com/adw7Q9k.png

I'm sure you can appreciate how simple it makes the whole process for everyone involved. :)

Why should anyone invest real money into a simple mintcoin clone?

plus mintcoin isnt even going anywhere. there are lots of proof-of-stake coins already

Why did people invest into mintcoin? It was just a novacoin clone.
Why did people invest into novacoin? It was just a ppcoin clone.
Why did people invest into ppcoin? It was just a bitcoin clone.

I'm sure you see where I'm going with that. When talking about PoS coins, it is the mechanism of distribution that sets them apart from each other. Our distribution model is better than that of our predecessors. No other coin has been able to create a system that distributes based on personal hashrate contribution. This is an IPO that you can buy into using either hashrate or bitcoin. It is unique.

Beware of IPO coins with only screenshots announced by newbie.

After the stackcoin and gpucoin disasters, it's unfortunate, but understandable, that our credibility is being attacked as a result. We will look into the possibility of getting a escrow involved for those who are still skeptical of our legitimacy.

If we do get an escrow, the ordering site (http://getgreencoin.com/ipo) will still be available, and those who order directly through us will receive a 10% bonus.

Why don't you just take a dump in a cup and offer shares of that through an ipo?

IPO service available from Coin-Swap.net if developers are interested.

Coin-Swap offers an IPO escrow service, if requested by the coin developer. If you have been to Coin-Swap.net and used the trading system, it works very similar except it's a one to many trade instead of one to one. It takes approximately 24 hours to setup the IPO escrow service per coin.

Coin-Swap.net's responsibility is to YOU, the investor, first. Some things are out of our control but handling your coins is our primary responsibility.

Short Version
Investment deposits are sent to Coin-Swap.net, and you can refresh your page with up to date deposit information.
The investment amounts will not be sent to the coin developers until we have received the IPO coins from them and not until the coin goes live. The wallets must be publicly released and the IPO coins available to claim.
Once the wallet is released, participants can enter their IPO coin wallet address at the Coin-Swap IPO page and shortly after they will receive their IPO coins.

If you plan on taking part in an IPO, please go ahead and register at Coin-Swap.net (https://coin-swap.net/register) it is the easiest and fastest registration you'll ever do. Please also read the Sync page (https://coin-swap.net/sync) in case you join the IPO from another device in the future.

Coin-Swap's role
Coin-Swap provides the coin handling portion of the IPO. We are responsible for receiving investments, keeping the investments safe, and distributing rewards. Coin-Swap is not liable for the credibility of the coin.

Important Information
Coin-Swap takes 2% of the deposit amount as a service fee as soon as it is received, regardless if the IPO is successful or not.
It is your responsibility to determine if you want to take the risk.
If the IPO fails, you will receive your deposit minus the 2% service fee we charge.

If you have any other questions or concerns please let me know.

Ian

PM'd you.

Escrow should be a basic requirement for IPO Coins in this forum.

Instead of another knockoff re-branded scrypt coin with nothing innovative, why don't you just charge every a set amount of BTC then fart in their mouth?

why I cannt choose 0.05btc？

please add  the new pool url= http://green.sumpool.com

All these PoW/PoS combination coins with mintages in the billions make BlackCoin with a total of 75,0000,000 seem even better! :)

That is not necesarily a benefit. Having a low number of total coins is bad because it forces users to deal in fractions instead of whole numbers. I realize there is mBTC but it just feels wrong to use. One of the biggest problems bitcoin is facing right now is that each coin is worth too much. It makes the public think it's too expensive to get into. They don't understand coins can be split.

I can do escrow.

Fairly simple, no one gets any BTC until the coin is launched, miners are mining, and the investors have received their GreenCoins.

To investors, 100% refund if the coin fails to launch (less any tx fees).

If it succeeds, I'll send 99% to the dev and keep 1% as my fee. (Or he can pay me in GreenCoins too.)

Details can be discussed if the dev wants to use my services.

I think I'd rather pay to have my nuts smashed in a vice than invest in another re-branded clonecoin with nothing innovative.

+1

--------

Please don't let this be a repeat of Stackcoin (https://bitcointalk.org/index.php?topic=457575.800), where everyone who invested in the IPO got robbed for their investments. If you threw your BTC at greencoin IPO, and turns out the DEV (who we don't know much about)scams and runs with with your btc, don't come back on the forums crying about it, you deserved every bit of it.

I see nothing new here. Too risky for me.

Due to all the scams that have happened recently, we are working on securing a trusted escrow. Please be patient.

I don't know why people keep trying to scam using the same old tactics. Bring something new boys. :P

Even if this is a legit coin and not a scam.  It offers nothing innovative.  They copy pasted pre-existing coin code and rebranded with little pictures of trees.....QUICK TAKE MY MONEY!

Come on man...he slaved over a hot keyboard for a whole 2.5 minutes to make this coin...show some appreciation!  ;)

You two make a cute couple.. When's the wedding? :)

Hey guys,

I've been contacted to help with the escrow for this. It will be very simple to understand and to get involved. I am to keep a public list or spreadsheet of all investors, their forum nicks (you may remain anonymous), and the amount of BTC they have invested, and their GreenCoin address.

To keep it simple and transparent, I will use the tried and tested method of accountability which is just one investor BTC address which I control, and a link to that address in the blockchain. Everyone can see all incoming transactions.

For the sake of security of everyone's coins, refunds will only be processed AFTER the coin has launched, at the same time. This will be a "cold" wallet address, that's why.

If the coin fails to launch in a satisfactory manner all BTC will be refunded back to their original addresses, less any bitcoin transaction fees. (Usually 0.0001 per 1000 bytes.)

This is my escrow thread if you want to do some research.
https://bitcointalk.org/index.php?topic=234939

For investors sake, please use a wallet where you control the private keys and can sign a bitcoin message. Search the forums on how to do this. Do not send BTC directly from an exchange or a web wallet.

In case of disputes, I will honor whoever sends a signed message using the bitcoin address that sent the coins. Bitcoin-Qt can do this.

As I understand it, you can wait for the wallet to be launched to get your GreenCoin address from there, or you can generate one using the web page which looks like bitaddress.org.

Any refund, will be sent to the address that originally sent it (or one of the addresses if there is more than one) as reported by blockchain.info UNLESS you can sign a message using that address to send it to another address.

I will charge a flat 1% fee, regardless of the amount of BTC collected by this IPO, deducted at the time I send the funds to the dev, less any refunds.

I will send the BTC to the GreenCoin devs only after the coin has launched, the wallet is working, the investors have received their GreenCoins, and the miners and GreenCoin network has reached at least 48 hours or 576 blocks. I think this is fair, if the coin is 2 days old and everyone got their GreenCoins, then I can release the IPO BTC funds to the devs.

For investors, what you could possibly lose is the time any coins you send until launch. This means your BTC are stuck until at least 2014-03-17.

For the GreenCoin team / developers, you don't get anything until after 2014-03-19 (48 hours or 576 blocks where each block is 5 minutes.)

If Drexel agrees to these terms, then I will post a GPG signed message containing the bitcoin address for IPO. Investors may choose to remain anonymous (identified only by their GreenCoin address), just send the BTC to the address indicated, and send me a PM with transaction details, preferably with a signed bitcoin message.

If you do not know how to sign a bitcoin message, please take the time to learn it.

I am not responsible for any coins sent directly to the GreenCoin team on their web shop. They do offer a 10% bonus.

Thank you and have a nice day!

Dabs

*edit* wrong year, I meant 2014.

If you want an energy efficient coin, change algo to skein/keccak, or even better Qubit or Groestl.

Another scrypt coin is another copy/paste coin. Claiming it's a "green" coin using a power consuming algo is a nonsense

Sounds good Dabs, let's do it.

The coin is only scrypt for 2-4 weeks. After that, PoW is not used to secure the network. Scrypt was chosen for the initial distribution because we felt it was the most fair algorithm. With CPU based algorithms one can just buy thousands of cloud compute instances and the cheat the system. Scrypt requires a GPU rig which is a lot more prohibitive.

Do some research, or look at other coins..
SKEIN, QUARK, KECCAK, QUBIT and GROESTL have GPU support. With those algo, power consumption of GPU are 30% less. And a lot colder too. And with this gpu support, of course, cpu mining is worthless.
https://bitcointalk.org/index.php?topic=475795.0

It does not matter. The mining period only lasts 2-4 weeks. Scrypt is the algorithm people are most familiar with. It has the most developed mining applications.

We're working out the final details with our trusted escrow Dabs and should have the details for that available shortly :)

http://pastebin.com/raw.php?i=vdYFjHQL


http://blockchain.info/address/1DabsmmgiudU56chGBwqdE48PzJRdpExhB


Reminders:

1. Please send from a BTC address that you control, or can access the private keys.
2. Please send in increments of 0.05 BTC, up to 3 BTC limit, as per their website.
3. Send me a PM or post here with your transaction details, preferably with a signed bitcoin message using bitcoin-qt or compatible wallet.
4. Don't forget to include a bitcoin transaction fee so your transaction gets confirmed and included in a block.
5. I am only responsible for coins sent to this address.
6. If you change your mind and want a refund, you'll get it next week. Until then, no coins are moving.
7. Please use the generator to create an address.
http://www.getgreencoin.com/generator/

For uniformity, follow this format when sending your IPO details:


Example:


Then include the transaction details, either just the ID or a link to blockchain.info.

If you are not yet a member of this forum, send me an email to my address that signed the escrow contract. You'll figure out how to do this if you can verify my signature.

I definitely think if you are going to offer an IPO that it should be capped to avoid one large investor from gaining total control before the coin is even released.

Well, let's say there is only one large investor and he IPO'd more than half the coins. That's only 1 billion coins out of the 2 billion that will be IPO'd. 2 billion more will be mined in about 3 to 4 weeks.

Glad to have you on board Dabs. Hopefully this will silence some of the critics :)

Negative trust removed now that IPO is secured with trusted escrow.

As stated in the entry, this is not necessarily an endorsement that Drexel is "trustworthy", however, the situation warranting the original negative trust rating has been addressed and resolved.

+1

Why don't you just take everyone's money then kick them in the nuts?  It would be a lot more pleasant than investing in another rebranded clonecoin

I edited the post to require investors to generate their GreenCoin addresses using http://www.getgreencoin.com/generator/ so we don't have to chase them at launch time.

All investors must keep a copy of their address and private key, because once the IPO coins are sent there, no one else can get them.

So, again, what is the point of this coin other than to make you rich?
Don't brand your coin as some altruistic world-saver if its not going to do anything.

We received word earlier today that our lead developer was involved in a serious auto accident. After much consideration we've come to the conclusion that this project can go no further in it's current state. The client is already complete, however, without him we will be unable to support it going into the future. It would be irresponsible to continue on with the release as planned. We are unfortunately left with no choice but to cancel this project.

We will now begin the process of refunding all investors. Thankfully, there have only been 6 investors for a total of 2.05 BTC so the process should not be difficult.

Investor 1: 0.35 BTC
Investor 2: 1 BTC
Investor 3: 0.5 BTC
Investor 4: 0.1 BTC
Investor 5: 0.05 BTC
Investor 6: 0.05 BTC

If you are one of the investors, please reply with how much BTC you have invested, along with your GreenCoin address so we can verify it is you. Please also provide an address that we can refund your BTC to.

We are sorry that it had to come down to this, but believe it is the right thing to do. Thank you to the very few of you who were supportive of us.

Regards,
The GreenCoin Team

So sad to hear but why not get a new developer  :'(

Hey there,

I invested 1 BTC to the following greencoin address: GdC8R1chwZLg2BF9mBoWRJwKhUmSdKLEN7

You can send the refund to the following btc address: 173cR7FdnQUKCshmU34iTJ4JFPLmGCfpfa

I truly appreciate it. My best to the dev. Thanks a lot for keeping above board and refunding.

Thanks,
Clay

Calling bullshit

But GJ scamming 6 people after numerous warnings, at least you made off with 2 btc

Yeah, ending this 10 days early really is the best way to conduct a scam? Imbecile. Brotherclay has already received his refund, and so will the other 5 individuals soon as they post a BTC address.

We are not searching for another developer because it was primarily his idea, and it would be disrespectful to run off with his idea like that.

Received my refund. Thanks a ton.

You guys have really impressed me with your honesty. I can only hope other IPOs have as honest a bunch of people backing them.  The crypto community needs more people like you guys. It's too bad we couldn't see this to the finish line.

Thanks again,
Clay

Edit: transaction completed and confirmed.

Just waiting on a reply from Dabs as to how many of the 6 investors he actually received btc from.  Thinking your just shilling accounts and no escrow through Dabs was used at all.  If I'm wrong then I apologize, but playing cynic here.

Investor 1 for 0.35BTC.

Greencoin address: GUp3FVbEkzQmBHz7prADGHzuctPmbFNggm

BTC Refund Address: 1KPqgiybA1YggMV7zwqyazvUTHnxNQ7ufx

My best regards to the dev. Hope it turns out alright.

Investor 3 for 0.5BTC.

Greencoin address: GbDkG54eYbxeG1tcWxq2m18k9B22nJz4pp

BTC Refund Address:  1PTQgJELKpdA52hqv8mWjHxT4tN8ewSYu2

My best regards to the dev. Hope it turns out alright.

I like Greencoin

Received my refund. Thanks

I think you are the best.

Investor 4 for 0.1BTC.

Greencoin address: GcZV3dpuN5iGycLPRdcoCUzCQG3CpTYzSr

BTC Refund Address:  1Lqg6byomFzvLQ8R3dHEP4ZxhFUQ4A8KRt

My best regards to the dev. Hope it turns out alright.

We can provide a faucet at EarnCryptoCoins (http://earncryptocoins.com) if you are interested

Does anyone else think its interesting that all of the "investors" are brand new accounts with 1-5 activity?

Yes, I noticed that too. Maybe they all really did sign up just to invest in Greencoin, it seems like extra work, to fake refunds.  I don't know.

 Just good luck

Hey there,

I invested 1 BTC to the following greencoin address: GdC8R1chwZLg2BF9mBoWRJwKhUmSdKLEN7

You can send the refund to the following btc address: 1MVxjaXCGPEJhHpboyUDNjXNcqRLKUVp17

I truly appreciate it. My best to the dev. Thanks a lot for keeping above board and refunding.

Thanks,
Clay

Horrible news. Hope the best for the dev.

Less then 8 hours!! ---> Check Coin Countdown (http://www.altcoincalendar.info/coins/175-GRN)

 

This is not the official GreenCoin site. The Official GreenCoin is https://GreenCoin.io, which do not want anyone BTC to trade with greencoins. You can download and start mining your own greencoins. or get directly involved in development for an identified virtual currency on https://github.com/GreenCoin-Project/GreenCoin

my greecoin address :GXZkudzQhzop5CaSWtf23vxHUYSbbL5mG5
my btc address is :1PsVttUXhCrBRSDWp6f3LRED1vdF23Bdyj
I invest 0.05btc ,pls sent my btc to my address of btc ,thanks

Maybe, you should revive the project? ))