Bitcoin Forum

IntelliCoin - is a Scam? Why topic is close ?

Not sure. Website is still online though.

look the price - https://bittrex.com/Market/Index?MarketName=BTC-INT

I think they locked the thread until they decide what to do with the second round of funding.

Wouldn't worry too much, we know their names. If they do scam, report them to MIT :D

I guess they got a panic attack .

They decided to start a second phase of IPO and do a coin exchange.

Rightly so....everyone told them to go fuck themselves and I think they are locking the thread until they figure out how to save some sort of face.

I indeed hope that's the case, in the meantime I have increased my position in INT by 50%, let's see how this works out.

I just locked the thread to update with only the important developments and announcements.

This can not be done! Closing theme leads to distrust of the dev !

How is locking the thread a Scam? Dev delivered coins, Investors got profit. Its the FUD which ate the coin up.


I doubt they care about your trust. I am sure FUD made them lock the thread.

Indeed, this wasn't a very good step. I do get your reaction though but try to keep it professional please. The most important thing now is that you haven't left and scammed us.

Do you realize how much panic this caused in the market, if you really care so much about saving the coin this is not the way to go. How about starting a self-moderated thread? this way you can control the junk posts.

All of the guys - I think the coin is dead. I believe that if dev can not answer arguments on FUD - then he is a weak man

IntelliCoin ,Use Coin,all IPO,ICO Shit Coin

You do realize most of the time these weren't arguments. They were blatant comments and accusations with no base.

yup, they were nothing but empty words with scam written all over it.

Their "get this coin on the right path" plan was to let investors trade in their coins at 10 to 1 swap (10 old for 1 new), while also launching another ICO  for the new coin at 10x the price, in order to raise 300 BTC.

Playing it off as "the funds are for the coin, not for us" except the dev team already has coding/programming talent, so I don't know why they would even need the ICO money.

Saying they're going to deliver their InSign feature midway through the second IPO, which raises multiple concerns:

1. If you need the money for development, then how are you gonna launch the feature midway through the ICO?
2. If you don't need the money for development, then why not just launch the feature for the original coin and give investors what was promised?
3. Noting these two previous points, how would this second ICO have been "for the coin".

Now they've put out a statement that they're reconsidering the decision due to negative response. To me, this says "oops, you caught us trying to squeeze more money out of everyone". Then the thread was locked.

What a move! We believe in the coin because the ipo was less than 17btc and miners throw hashes to keep the network alive. I though the community will decide.the price but when the dev wants to raise 300 btc, it smells all bullshit and envious of other ipo coins. This should never be tolerated by us even if they did go to MIT or Harvard. Stay away from this kind of devs so you will not loose your investments.

MIT student also scam? :-\      no thanks

maybe dev have some personal reason? ;D

Yeah, jealous because some ipo scam coins raised more than 100+ btc and her coins didn't even if she goes to MIT. Maybe she needs to pay her tuition just to stay there

::) Take a look at the thread.  It's like a schoolyard in there, only less intelligent.

Also, multiple people contacting the University was a mistake.  The devs could have easily gotten spooked and fled right then.  If you don't trust the devs of any coin, don't invest.

I'm not sure if locking the thread and only reopening it to make announcements is a good idea or not, but I guess we'll find out.

I really like the design of their website so I'm looking forward to Intellibit and the IntelliApp.  I don't think they gave any dates for those though.

Where can we find further information on Intellibit and Intelliapp?  I looked at site but there wasn't much.  They should change the picture too.  I saw it and thought "take my money now" kind of meme.  Made me feel like I was giving them a bunch of money that I was never getting back.  Maybe he should just put the matrix digital characters as the background instead as he tries to find inspiration from the ether realms.  So if you calculate what the 2nd ICO would of been worth, is it something like 300-400K or something?  Are they trying to fund their college years?  I'm a college graduate who had debts, but I'm not trying to pay off my debt with cryptocurrencies, just learn how markets work so I can stop working for the man one day.  I agree with previous analysis, seems like the developers felt embarassed that the forums called him out on the second ICO.  Say its "for us."  If it is "for us", he should at least persuade us that it is instead of just giving up and saying "nevermind."  Anyways, I'm new to all this and this forum.  So "hi" everyone.

For what its worth.  Things aren't doomed in my opinion.  I still see about 20 Ghash on the net mining this coin.  I see good potential with such low value right now.  Can't wait to buy a bunch of these up when it drops further :)

Yea, can't deny there's been a few fuck ups by Devs from this project; 1st Pow phase is too long, and 2nd If the IPO was gonna be hosted at an exchange then it should've been done since the beginning and not as some sort of "Re-launch". That being said I still believe in this project and its legitimacy, and hopefully devs will deliver.

I agree with you.

Don't compare USEcoin with Intellicoin, USEcoin was a proven scam Intellicoin on the other hand isn't.

I don't care if they are scammers or not,They post their names and IDs,If they are scammer we can report to MIT ;)

What is you mean about MIT?

^Its the university campus they attend.

dev is on finishing ::) ::)

Dev,

I give you a second chance. I can feel you are tensed, and it seems like you are totally overwhelmed ...

If you want an advice, I'd ask the community what they want, and try to make a compromise.

Things are not over. :)

Your first mistake, Schild_, was hoping for the best. After what we've seen in alts the past month, it's clearly safer to always assume the worst. Always exit and ask questions later.

Hehe,

I sold right after i read the announcement...  It's fine, don't you worry for me, I got somewhat lucky in the end.

 :)

I'm PMing you.

Are you guys kidding me. You guys were bashing the dev for nothing.
@Schild, I saw you saying bullshit like 12 times on the last 2 pages alone.The dev always said that InSign will be released by the end of the month, and you guys wanted it sooner. Why? So that you could sell your INT for a profit and get out. Sad Shit.

Ok. This has to stop. You people believe you know what I want and what i'm gonna do? Please gimme your number, for sure this can be very useful in my life. ;D


I haven't been "bashing" the dev,  i've been asking many questions, and i was definitely NOT the only one and certainly not the rudest. People even wrote stuff as such as fuck you and this many time, but for some reason, I am the one everybody is complaining about? I asked questions because I was not sure what to do, somewhat they look legit, probably smart, but this announcement was just impossible in the altcoinworld. I've been waiting for hours and certainly NOT to hear such a mistake.

Everybody got pissed. You guys believe you can blame me for INT trading at 200 sat? Do you think anyway the 2nd ICO idea would had worked? Get over it, i'm posting whatever i want anyway and you guys will have to deal with that.

As for the rest, i was the first to congrat the dev for changing his mind about the 2nd ICO. I bought back in to support his work.

Just to let you know, if you want me guys to fuck off, the best option is NOT to write that kind of comment about me.


++

Is it still radio silence?

They are clearly after the money because;

1. This is an MIT student altcoin project
2. They want to have a 2nd IPO
3. They locked the thread

It is be the worst because the thread is locked.

What do you think, they're just gonna do it for love?  :D

scam reason, ico/ipo all those shit are just cancer here

I dumped them, much better Coins and Devs out there..

They are scammers,i think we should report them to MIT and told their friends and families the truth!

maybe they got scared and ran off... ORRRRRR

they are doing this on purpose since the 2nd ICO was not accepted , to lower the price and buy very cheap , then release the IntelliApp/Insign and drive the price back up = nice profit.

they locked the thread because of the childlish behavior of the average btt troll.
The shame is on you, and only you. I talked to the devs and they are very serious about the project and still working on it albeit discouraged because of YOUR shitty reaction. Dont kill amazing opportunities to bring improvements to crypto screaming scam scam scam like toddlers. Mature up, for god's sake!

So Smart aren't you ?
Unfortunately there is no crypto legal system and MIT wont even get involved with a troll like you who might have lost 10$ of his investment.

Omg, I'd love to see this happen.  I'd be so happy right now :)

Either it will be the biggest pumping in history or the that the coin is almost on its last life line.  Either way, if I was developer, I'd fucking get back on the forums sometime soon to let people know you haven't disappeared.

As long as the website is still online, the project isn't dead yet in my opinion. Just wait until the PoW phase is over on Sunday and they release the Intellisign and Mobile apps, we might see a nice pump.

Might be my biggest rise yet since I started mining.  Just started this month, I'm up to like 4 dollars, but hoping to get a nice spike sometime so I can have a bit more to work with.  Pretty exciting.  Even at its current rate, I still find this coin worth mining.

What a troll :D

My goal is to get this coin to value -1 and then to make it rise past Bitcoins value for .001 of a second and get rich.  I'll cash out at that time and call it quits.

Dev,

Bring the original thread to life !!!

Let the community express itself....

this is fucking pure scam!


dev is not replying any PM.

fuck you FAKE MIT

I contacted MIT, they immediately removed intellicoin.mit.edu, and also cloakcoin.mit.edu - they have not responded formally to me yet, although their actions are enough for me personally.

Drupal cloud sites can be created freely at drupalcloud.mit.edu by anybody with a touchstone id. I was concerned as I know several lecturers and students at MIT and none of them knew anything about it, and having been involved in several projects I knew myself this was a highly unorthodox project, especially requesting money from the public.

All I can say is this "The website is still up.  There is still hope."

Well, my reply from MIT security officer Andrew Munchbach is real; however, I don't think dev and/or devs are who they claimed to be.  Mr. Munchbach stated...


which led me to believe there is only a single scammer/dev on the team. Scammer might have knew someone at MIT and have created the site/email address with the .mit.edu domain. Two student names were posted in the thread to provide some legitimacy to the project, but one of the name could not be verified by one of the posted who called up MIT. This dev smelled fishy from the start. I would have expected a 100 page whitepaper on the coin and the bs insign shit coming from a college student, especially an MIT student.   

By the way this scammer acts...by locking the thread and running away...I think is the same scammer that created LOL coin, CSC coin and ESC coin.

Beware of any upcoming altcoins by scammers from other ivy league schools....

How about we only mine coins from people who are not newbies like myself?  If I came out with a coin tomorrow, I hope nobody would mine it.  We should only follow authentic screen names from trusted community members.  No?

IMO freezing the thread was just like telling the community "go fuck yourself guys"

I think we should give the Dev some time to grow up and realize what he's doing . If they don't show up in a couple of days, well...... we got their names and affiliation.

Unfortunatelly, yes  :(