No, not really. The price fell because one of the team members went on a rampage.

It's been what, 4 days since the coin was released? Under normal circumstances, the coin would have been fine and on its regular development pattern. It's not a scam just because the price fell, or that a team member posted in the way he did. You can argue that the dev team dropped the ball by not being active today, but that too doesn't make it a scam.

Although Bob is the culprit in this mess, I don't view the dev team as blameless.

This isn't the time for surprises, nor things 'in the works'. This isn't the time to spend the weekend relaxing with your kids. Your coin is on fire (and not in a good way, it's burning)... the dev team needs to put out the fire.

Post the ipo wallets, post about things that are planned, don't make them surprises. Get the coin on polo, whatever it takes, and quickly. And use some of the funds to get the coin voted up in MP, at least into the top 10.

You can argue that you want the coin to make MP organically and you can argue that buying votes is no 100% guarantee, but it's a show of good faith to the investors that the devs will spend the funds when necessary. Bob's 22 btc 'marketing fund' alone would have gotten the coin the #1 spot on MP, which is better than any videos or marketing you guys can do. I strongly suggest you guys be active this weekend, not take time off to relax, as by the time you come back you may not like what you see. You guys can still fix things but you can't be complacent about it.

I see things have been lively here tonight... although not in a positive way.

Something I don't get. You think the rest of the DCM is great, some of the best you ever worked with. Some are like brothers to you -- your own words.

Yet you throw them all under the bus each time you go on one of your insane rants against Jeremy. The reason the price is failing is because of your actions. Don't you care at all about the work they put into the coin? Or basically are you so selfish that you feel a need to go on repeated childish tantrums because of some grudge, and if the devs you feel are some of the best you have worked with suffer, so be it?

By the way, if bittrex isn't agreeable, look at kingcoiny, atomic trade, coined up, and a couple of the small guys. Something is better than nothing. Or better yet, break open that ipo wallet and spend some funds to get listed on better exchanges.

Let me first preface this by saying this isn't a knock on you personally, as you haven't been with the coin that long. But it's been a while since the coin's release, and the coin has a temporary website, is on one small exchange (and is about to get delisted) and has a total of 7 votes in MP voting. No talk of merchants, larger exchanges, or anything special as far as wallet functionality.

And most importantly, not a single word of using any of the ipo funds for the coin itself. As with many people, I expected this due to the original dev's past behavior, but I did buy back for a small amount of coin... and I haven't seen much, besides, well, extremely low volume.

And here is the bittrex statement. I suggest you contact them if you wish to keep the coin on the exchange.

https://bitcointalk.org/index.php?topic=635824.0

So I suppose the XLCPlus dev won't be using any funds at all from the ipo towards the coin?

I'm out myself, after seeing basically no development whatsoever, but I do feel sort of bad for those who are still holding this.

Bittrex already stated they plan on delisting the coin by next week due to low volume. So I would certainly try to get the coin on some exchange... somewhere... anywhere.

Okay, thanks. It still looks  risky, even using a proportional distribution. For argument's sake, if we base the coin on how DCM did (their higher avg. value, not post lunatic dev value), it's cutting it close as to being a profit or not. I think it'll come down to polo hype and if it'll boost it up enough to start with.

I would think his reputation is done with, regardless.

But in a land of anonymous developers, it may not matter as much as we'd think.

Yep, which is why I asked what the total was, just to see how many coins there may be to distribute. And I assume you mean all ipo coins will be distributed proportionally, which was around 19.5% of max?

Accusations from a lunatic shouldn't necessarily be taken seriously. It's like asking someone who just got fired from their job what they think of their boss.

I'd be happy if they spent around half that, got the coin into the top 10, and sped up polo listing the coin. That would buy them some time to build up the coin infrastructure and keep the price stable. It's also a show of good faith that they are willing to spend ipo funds on voting. Each dev kicks in a couple of btc from their ipo fund, and they can manage it.

At what time today, EST, does the ipo end?

And what was the original ipo amount again, 110 or so btc?

Just doing some quick calculations as to if it'd be worth putting a small amount into.

Yeah, I wouldn't blame the team based on his actions. It could be a matter of  a lawsuit, if they wanted to pursue it, but that is up to the dev team.

Private wallets for the other devs could be shown, however. Just set up new wallets for the funds. You can of course list what expenses that have already occurred as far as coin/software development goes as a subtraction.

And I assume at this point Bob's exclusion is factual. I mean, how could it not be?

I strongly suggest the devs nip this is the bud, provide some clarity, and be active this weekend with whatever coin things you may have planned. That includes MP voting, new exchanges, putting up merchant info and all of that stuff. Yes, most coins have plenty of time to do those things, but this is certainly a weird situation. Most dev teams don't accidentally take on a lunatic. Best to deal with it now, than take time off and rest... rest when the coin is stable.

And rather than be pleasantly surprised when polo adds the coin, I'd try to make sure it happens by this weekend. If it takes a bit of extra effort, so be it.

Just be aware that going into promo hype mode before the ipo is actually over isn't in yours, or current investors, best interest. It's too far away from selling out for demand to be the path to profit. You need to base it on the proportional split after the ipo is over.

Also really curious how it plays out. I'll probably be on the sidelines, as I'm not as confident as you are that it'll get pushed up enough into sure profit territory, but I wouldn't rule it out either.

The things that work again it (well, several things, but I'll mention the obvious) -- lack of demand = lack of hype, so am not sure if the polo trollbox will be in full force or not. And I'm not sure what the final numbers will be as far as proportional splits. It of course depends on how many ipo coins remain.

I wonder if XLC has set some sort of record as being the newest coin to ever get de-listed. Somehow that hongkong coin looks like it may outlive it. Even being cynical about devs for both coins, I would have never guessed that.

As stated, yeah, you can sort of force you way onto it. It's not 100% certain, but if ITC can do it, I'd wager any coin can. I do agree that it may not make sense to use all the funds immediately to jump to the very top of voting, but I would suggest spending some of it, get into the top 10-15, and give people a sense of stability -- they'll at least know that MP is on the horizon then.

You could do the same with cryptsy too, by the way.

It's sort of interesting where the coin is. To play it safe, people may wish to get out. Yet coins are so cheap, and if getting on polo (already planned and in the works) + MP eventually pans out, it could really get into profit territory. That is the carrot the devs need to dangle right now, if they want the price to stabilize. That buys you time to do all the normal coin stuff.

XBC is in a similar boat, and they have kept things semi-stable lately-- I'd say primarily because of their community voting on MP and getting the coin into the top 10. It is important to many people.

It will be interesting to see if the coin does get that initial ipo bump once the markets open. The problem is, you are mentioning coins that at least sold out their initial supply. There was obvious demand for the coins.

LCL and XLC also sold out, and went above ipo prices, but only for a very brief time (blink and it basically was over with). I don't see Mil selling out before the markets open. Proportionally spreading out the ipo coins may make up for this, but am still not sure if it'll be enough to get into profit territory. Guess we'll find out soon enough. But blanket statements that buying in is a sure thing doesn't really apply to any coins... nobody knows. And it certainly doesn't apply to ipos that don't sell out their coins.

Nothing is ever boring in crypto-land, it seems.

Apparently they accidentally signed up a psychotic on their dev team. Not only does he troll their competitors, but trolls the coin he supposedly 'worked' on.

I have suggested getting MP voting going as soon as possible. I'm not sure it makes any sense to go super crazy with ipo funds and go right to the top yet, but a decent purchase of votes by the dev team may make sense. Normally I'd say wait a while, but the team should look to stabilize the price due to this recent weirdness. The way to stabilize it is make MP imminent, yet not too imminent, or people will simply dump before an infrastructure for the coin is in place.

Besides that, I believe Polo is in the works, so at least it's a larger exchange than Bittrex is. It could in theory stabilize things a bit, assuming polo doesn't take forever.

Anyway, that's what I would do.

People here don't seem to want to admit it, but the coin needs to be listed against ltc. Even with the coin count being reduced, it still should be in the ltc markets. No shame in it, and longterm the coin can still be worth a decent amount.

If it does eventually get onto MP, and they offer ltc or nothing, take the ltc market and run. Really you guys should be pushing for a polo/ltc market right now.