Bitcoin Forum

This is a scam of a different level and I want people to be due diligent before investing in this coin, as I believe almost ~30%of this coin is already in the hands of the devs.
Xcoin is a new coin for the coin creation service.

But guess what, their wallet never worked until the end of the first stage of the IPO.
The creators of the coin has already claimed to have successfully created many other coins, and its baffling to see why their own wallet didnt work until the first stage distribution is over.

To me this is because they want to get less attention from investors and can easily distribute the first stage distribution, (which is the largest in coin distribution amount, around 30% of the total coins)
among their near/dear ones or to their own sock puppet accounts.

I decided to risk some BTC anyway, after selling some of my coins at a loss in the exchange , and as per the PM from one of the OP, the ending time was last Sunday 12PM CST.
So I sent in 0.48823885BTC https://blockchain.info/tx/bdc85556f452d02c8480c7743c4b908944855f748ce7720b0bb35b46cfcb566a (https://blockchain.info/tx/bdc85556f452d02c8480c7743c4b908944855f748ce7720b0bb35b46cfcb566a) some 8 hours before the end of play on Sunday.

The OP I was dealing with confirmed my transaction and I was waiting for my coins.
Today the OP came back and told me that I am not part of the first stage distribution.

Initially they told me that I send the coins from a different timezone and by the time it reached them, the stage 1 was already over.
But after pointing out the OP's PM with the end time for Stage 1,
they were saying, the time when the OP checked the transactions, my coins were not there and they decided to end it earlier bla bla bla...
Basically they don't want another investor to share the 30% pond.

Consolation: They will put me 'first' for the second stage of the IPO, which is for 24% of the total coins.

So I asked for the refund, and at first they refunded
0.48BTC https://blockchain.info/tx/69b3d7039f27674469152f0a753bbf3b58472b597fc52fad26a3df2722b2ddb0 (https://blockchain.info/tx/69b3d7039f27674469152f0a753bbf3b58472b597fc52fad26a3df2722b2ddb0)
then on further prodding
another 0.008BTC https://blockchain.info/tx/55b557cc0fc8f565e33c48dfa8a263eeb45cba41849f2497e9c24c750db3db15 (https://blockchain.info/tx/55b557cc0fc8f565e33c48dfa8a263eeb45cba41849f2497e9c24c750db3db15)
out of my total investment of 0.48823885BTC

I dont know what happend to the 0.00023885BTC, but I gave up on getting it back in the end.

So in the end, I lost a lot of my time, 0.00023885BTC and more in BTC as I had to rush selling some of my other alt coins at a loss to meet the non-existent deadline.

If I am correct, then they will try to aggressively market this coin now by throwing more free giveaways etc, as 30% of the total supply is already accounted for with them.

Note: Happy to provide more details about my conversations, transactions etc. if anyone needs to verify.

My loss is not the main issue here. I lost 0.0002 and more on trading at loss to gather my coins, transaction fee etc,
The point is they want to control majority of the 30% distribution and the OP changed the end time as he wished to deny my stake, I felt.
Its like instamine or premine before the POS kicked in.

Lol. They returned back your investment and you are calling them scam :-p you should praise them as they are not like edgecoin or other shity IPO. I don't know about the OP but I know the developer you are talking about, he is an honest man. You just missed the train doesn't mean start calling them scam  :-*

I get the coins,I have join in the IPO.

You will all be getting the coins, but you guys are failing to see the whole picture here  :D
Everyone who invested in NXT got the coins, right? At least they stick to the rules in the OP and allowed everyone who paid in time ,to join the IPO.

I am sure some people will get it  :P

are you funning us? 0.0002BTC?  base on your IQ you don't know what happen to this 0.0002BTC is right。

 ;D I am not funning you mate. I think its the OP of the XCoin thread who is funning you.

 I already told that my 0.00023885 BTC is not the problem you should be looking at.

Think about you buying some Xcoins as an investor and I want you to know that ~30% of the total coins is already with the devs,
(they say its with 10 people, but since they didnt allow me to join after following all the rules said in the OP, I believe, some of them are sock puppets of the devs)
so that they can dump them on you anytime and make your investment flushed down the toilet.


Also they promised 10% as free weekly giveaways by registering in their own forum.
What happend to that?The OP just keep changing the terms as it suits him/his beneficiaries.
Thats all I am trying to convey here.

They returned back your BTC ,but you called them scam,  are you the DEV of xcoin ? want more people to know xcoin's DEV is not a scam,so that to receive more invest.

This is the message I got from my friend, regarding the closing time, which is apparently sent by you on the same day.
http://postimg.org/image/s857jdiy9/
http://postimg.org/image/s857jdiy9/ (http://postimg.org/image/s857jdiy9/)

and my transaction is here, which is 8 hours ahead of 12PM CDT, which is the closing time.
https://blockchain.info/tx/bdc85556f452d02c8480c7743c4b908944855f748ce7720b0bb35b46cfcb566a (https://blockchain.info/tx/bdc85556f452d02c8480c7743c4b908944855f748ce7720b0bb35b46cfcb566a)

You expect us to check the OP every minute, to see whether you have changed the rule and closed the IPCO?

You can fool some people all the time and all people some time but not all people all the time.  ;)

Regards.

the whole section is a potential scam, nothing new

I still haven't received the Xcoins I was supposed to get after PMing dev and everything.

If you didn't receive a PM is because the Stage was already closed.
 ::)

If you didn't receive a PM is because the Stage was already closed. OMG, stop embracing stupidity.
 ::)

In the PM you said 12PM CDT was the closing time, same as said in the OP.
So when was the actual closing time? and why did you lie in the PM?

 ::)

30%of this coin is already in the hands of the devs.

If it's the truth, that would be terriable.

Closing time was around 3 PM. We never said it was going to be 12PM CDT .

Stop embracing stupidity

You are telling that , I photo-shopped this
http://postimg.org/image/s857jdiy9/ (http://postimg.org/image/s857jdiy9/)
just to spread fud about your scam coin.

I got better things to do mate  :)
But I wont let you scam other innocent people in the forum.

Now you stop embracing Ignorance

It is not a SCAM!
I get my Xcoin for IPO.

If you are going to a job interview and want to take the train at 12AM, you should be there not at 12AM or 12:01AM. Sometimes trains go even at 11:59:30.
Guess what the company tells you, if you say, that you missed the train, because you were barely on time?
Set up a new interview, be earlier on the train and shut up.

BTW: I got my coins.
and: how do you know, that you wouldn't get even more coins, because in the second stage are less investors?

A stupid person, cannot install your local time to calculate, according to the forum's time, all countries are not the same time is not the same

How is this a scam if they refunded you your money?

For the 12:00 AM interview I was 8 hours early and yes that has to be rescheduled.  :D
And you were early by how many hours? And still made the interview?  :D
Well done to you.

>>that you wouldn't get even more coins, because in the second stage are less investors?
After more people know about the scam, I bet there will be less investors.

Read my post #6 https://bitcointalk.org/index.php?topic=588318.msg6450310#msg6450310 (https://bitcointalk.org/index.php?topic=588318.msg6450310#msg6450310)

Check the timezones again, and see for yourself, who is the stupid person.

>>>If I am correct, then they will try to aggressively market this coin now by throwing more free giveaways etc, as 30% of the total supply is already accounted for with them.

My predictions are coming true.   :D
As the quiet first stage distribution for 30% coins is over,
the main OP page is updated with more colorful wishy-washy images,
got a working wallet, faucet is now working and more and more services will be added soon to attract more investors.

Anybody with an iota of common sense, hopefully gets what I am trying to convey here.
For the rest, good luck guys  ;)
See you on the other side.

You can still be at the 20 % of the second stage.
As bitcoin was inventend it was also hidden for you, because you didn't search it.
But if you were one of the miners after 1 Year, you would have still enought.
Accept, that you were to late and take second (minimal smaller) chances or take the chances earlier next time.

Regarding the lies said by the user .cryptic.
http://xcoin.coinnuke.com/regarding-the-lies-said-by-the-user-cryptic-about-the-xcoin-ipo/


Yesterday , April 28th, 2014 , as you may have read , the user “.Cryptic . ” Has been posting false accusations about the legitimacy of the Xcoin IPO and arguing that we are making false operations.

His version :
“.Cryptic.” Argues that we did not want to accept his investment within the first stage of the IPO, because we wanted to distribute the coins between Josh and me.

The reality :

Initially it was said that the first stage would end on Sunday April 27th; although I did not published an exact time, when some users asked me via PM what time would it close, I said that at 12:00 PM CST.

Despite having said that, I actually closed it around 4:00 PM CST and posted it on the main thread. This means that I actually closed the first stage 4 hours after I had mentioned.

Then I started preparing the results and left to go eat and it was not until around 8:30 PM CST when I returned. That’s when Josh told me that someone had sent an investment of 0.48823885 BTC. I told him that we could not include it in the first stage because we had already closed and calculated the results, but I told him that we would gladly receive his investment for the second stage. He didn’t agree and he asked for refund, so we sent the coins back.

If I had included him in the first stage the amount that our investors had received would have declined, so I did not do it, and keep my word to avoid possible accusations of results manipulation.

Note that the user “.Cryptic . ” sent his investment at 7:51 PM CST, hours later I posted that the first stage had ended, and almost 8 hours later from what was originally planned (12 PM CST).

Proof of what was said above:

https://i.imgur.com/iU7M1E6.png

https://i.imgur.com/QiGzfd7.png

you tell the truth,buddy .

It is a communication issue then.

For me the clock goes like

04PM 05PM 06PM 07PM 08PM 09PM 10PM 11PM 12PM 01AM 02AM 03AM 04AM 05AM 06AM 07AM 08AM 09AM 10AM 11AM 12AM 01PM 02PM 03PM

Thats why I kept saying, I had applied 8 hours earlier.
If the OP treats my 12PM as 12AM, then I agree I was late.

If I had the intention of lying, I wouldn't have put up all these proofs for your verification.

Next time think before you accuse someone for scamming.

yes, what you said is right, nothing new and nothing awesome...

Lots of scams these days and we all have to be extra careful.

Until the AM/PM issue was pointed out, it was a scam to me.
When you set a date, it  usually closes at the end of the day and not at lunch time.
For me 12PM comes after 4PM.

Good luck with your IPO, its time to move on.

So many of them are out there.
Have to be extra vigilant to survive the scam flood.