http://libertycoin.co/draft-statament-regarding-the-alleged-scam-pools-and-the-people-asking-for-a-relaunch/(Draft) Statament regarding the alleged scam pools and the people asking for a relaunch:First we would like to start with a brief recapitulation of the events:
- On May 8th around 4:00 am we posted the pre-announcement of Libertycoin and we wrote that the coin would be released on May 9th at 1:00 pm. We gave more than 33 hours in advance to the community to prevent any form of the so-called “Ninja Launch”.
- On May 9th around 1:10 pm we announced that there would be a small delay of 30 minutes on the launch for we were re-compiling the windows wallet with then new graphics we got from Templar77 (who designed Cinnicoin’s graphics too).
- Around 1:40 – 1:50 when the compilation of the new wallet was over, we published the links to download the windows wallet and source code.
- We did not release the wallet with a seed node. Why? We had some discussion about it prior the launch but for voting majority –within our dev team- we decided not to, the argument was, “if the pools have to compile the client to set up everything, we should not have advantage over them, we should start compiling it at the same time as them.” So we started compiling the client on a VPS at the same time as we published the links. After a couple of minutes, it was ready with no further problems.
- Around 4 pm, we received a couple of private messages telling us that they had not received any payments from the 24hash pool, but they had from other pools. As the block maturity in Libertycoin is 50 blocks (50 minutes) we decided to post a recommendation on the thread asking to beware of that pool until we confirmed it was working okay.
- Time passed and we got people confirming that it was not paying its users, so in that moment we decided to delete all the Chinese pools that looked scammy, and kept the pools that users reported were paying.
- At some point in the night (CST time) the 24hash pool did not even allowed its users to login, so we took it as a confirmation that it was in fact a scam pool.
You have to notice that only around 3 hours passed after the launch when users started reporting that 24hash might be a scam pool, so the damage to the miners on that pool was very reduced.
Let us remind you a few things:-It is not our obligation to monitor the pools, nor tell you where to throw your hash rate, nor punish scammers. We are not your parents, we are not the "owners" of Libertycoin, we are not the police, and we are not your financial advisors. The objective of any cryptocurrency is for it to be as decentralized as possible. I do not recall Satoshi Nakamoto doing any of that.
Even though it is not our job, we decided to help the users issuing some recommendations about the reports we were receiving.
About the re-launch petitionsAs you have read above there is no reason to do such thing as re-launching Libertycoin. If all cryptocurrencies had to be relaunched after some kind of scam was executed, Bitcoin would have been relaunched thousands of times.
Libertycoin was not ninja launched, for it was pre-announced before launched. It did not have a single premined block and it was not distributed in an IPO or in a communist free distribution. And it was not instamined by ASICS because it uses the X11 algorithm.
I have been involved in cryptocurrencies since early 2013 and this by far more one of the fairest launch I have witness.
One of the members of our team made a poll and the results confirmed the community does not want it to be relaunched. In fact, it is very probable the only ones voting for a relaunch are the group wanting to crash Libertycoin (I will talk about them below) and some miners that unfortunately have their coins retained in the 24hash pool.
Libertycoin will not be relaunched. Miners have spent electricity mining this coin. Others, have rented rigs just to mine this coin, and others have bought it. Relaunching will only affect a huge majority of those who have invested with their time, money and effort.
As I mention above, we are not the “owners” of Libertycoin. We are not the central bank of Libertycoin which job is to monitor, punish and regulate all of what occurs.
This is a free market. In free markets, companies are not too big to fail. In free markets we do not rescue banks, or companies, or investors. I know this concept is difficult to understand to some of our community members who live in a
communist oligarchy, or in a
Keynesian failed State. We are crypto-anarchists so we will not act like the People’s Bank of China. We will not restart the whole Libertycoin economy just too benefit a few.
We will help to try to recover the coins stuck in the alleged scam pools, but be sure of this: it’s not our job, we are doing it just because we want to help, so don't act as we owe you something.The group wanting to crash LibertycoinWe (dev team) have a group on Skype, and we had an Indian friend that collaborated for many projects in the past. A few weeks ago, when we decided to create Libertycoin. He argued that he wanted to include a ‘secret premine’ in the code and profit from this coin. We rejected that idea. He got angry because he cannot create coins by himself so he threatened to crash our launch if we released it without him (and the secret premine).
So far we have doxxed some of his fake accounts and we have confirmed it is him making all the bad comments.
We don’t know his real name, only some of his accounts, but the only further thing we can say is that he has been involved in heavily premined coins like
Hotcoin where they premined more than 6% of the coins.
We cannot tell if all the accounts asking for a relaunch are him, but we do know that the majority are.
Let us finish this by saying the quote we added in the Genesis Block’s Timestamp:
“That which does not kill us make us stronger”. Friedrich Nietzsche
https://github.com/liberty-project/LibertyCoin/blob/master/src/main.cpp#L2486 This is my FAV Part - "This is a free market. In free markets, companies are not too big to fail. In free markets we do not rescue banks, or companies, or investors. I know this concept is difficult to understand to some of our community members who live in a communist oligarchy, or in a Keynesian failed State. We are crypto-anarchists so we will not act like the People’s Bank of China. We will not restart the whole Libertycoin economy just too benefit a few."
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