What legal hot water?  Who are they going to complain to?

As long as there is a big bold notice put on the front screen that any deposits discovered to come from multipool mining will be confiscated, then where is the problem.

Just give the coins to legitimate holders and screw the multipools.  They have been screwing the altcoin market for long enough, its about time drastic action were taken to screw them.  Its not as if the exchanges will lose out - the coins will still be mined, they will still be traded, so they wont lose commission.  They will just be preventing a dump from multipools.


OK - how about this for a question....

If you now have 5M LEAF, would you rather have it on an exchange where you fear that a multipool dump could drop the value, or would you rather they be on an exchange that will not allow a multipool dump?  I know where I would rather trade.  I'd rather trade somewhere that a coin could rise and fall naturally without the fear of a massive incoming dump of coins.

The multipools have anough coins in the last 2-3 hours to drop this to 19 satoshi from 27 in a blink of an eye.  So how safe would people feel about buying at 27?   Thats what keeps the values low.  Just watch what happens when these coins get dumped..  Hashcows manager will make a decent cut, exchange owner will make decent commission and the miners left will have a low price and a stupid high difficulty....

They are manually selling on coinmarket.  They were mining this when coinmarket was the only exchange that traded it.  So it would be a piece of cake to spot the account dumping these from Hashcows, but the exchange is reluctant to take any action.

Just confiscate their coins.  Would anybody anywhere who cares about crypto rather than just a quick buck, be in the least bit bothered that some drones on a multipool wasted their time?  Its about time the community and exchanges stood up to these pools and took drastic action.  They have completely f**ked the coin market thanks to their dumping of every single coin, so its about time they were f**ked themselves and were made extinct.

And when they dump thanks to the exchanges that are happy to allow this - value will be in the toilet.

Exchanges need to take action against these pools, or the coin needs gravity well now.  They are just going to leave the coin with crazy high difficulty and a low value after the dump.  Action needed to protect against these pricks in needed NOW.

And no doubt others too.  No way it grows like that without others on it.

There are only two exchanges that allow trade in the sort of volumes that these pools are mining.   The power to stop these is in the hands of the exchanges.

However, these pools are not going to hold coins, they are going to dump them.  Its what they do with every coin, so value of this could possibly reach 100 satoshi naturally, but by allowing the multipools on, its killing the value and keeping it low.

My vote would be to add gravity well now, as the exchanges dont seem bothered about helping the communities they rely on.  All they want is the exchange fees, if that comes from hundreds of honest miners working for the good of a coin, or just one big fat dump from a multipool they couldnt give a sh*t.   It would be very easy to spot an account dumping the sort of voluimes that these multipools are accumulating, so it would be easy to ban them or confiscate coins and give to the other investors.   That would put the multipools off.  All there needs to be is a threat posted on each exchange that multipool deposist if discovered will be confiscated, and watch how quickly those multipools will drop mining the coin.

I can honestly see no reason what so ever why an exchange would not do this.

As Ive said, if anyone has the coding knowledge to build an exchange like coinmarket, Im happy to pay for all hardware required to host it, and I would happily confiscate coins from multipools and givve back to the other holders.  Lets see where most people would go to to trade coins if they think they are protected from multipool dumps.

I'd pay 0.3% if you took action against multipools.  Im sure others would too.  Multipools do more damage than 0.3% to the value of a coin.

at the moment increasing the fees by 50% just seems to be cashing in on the multipool dumping.  Thats why no exchange wants to try and take action against them.  Everyone says that multipools are bad and killing the value, but they are quite happy to cream off the fees from their massive dumping....

If it is possible to identify an account that is doing the private dumping on behalf of the multipool (such is the case for Hashcows), then I see no reason why this action cant be taken.  You would only receive positive reception from the people who are mining this individually and not part of an alt coin bashing army of multipool drones.

Hashcows was mining this when coinmarket was the only exchange trading it, so they most certainly are using your exchange to dump coins.

Those coins would have been mined anyway by the current miners, and just distributed between a smaller group of people.  So they would have been traded at some point in time on your exchange, just maybe a little later when the value has risen.  Would the exchange prefer 0.1% of 10M coins sold at an average 40 satoshi over a period of a week, or would they prefer 0.1% of 10M coinst dumped at 20?   Simple economics.

The first exchange to do this and start confiscating multipool coins would have a massive influx of traders who want to deal away from the multipool effect.

If you dont think this theory can work, feel free to send me the source code for your exchange site, Ill set it up in the UK with a great big banner warning that any coins deposited from multipool sources will be confiscated, I'd send you half the commissions and Ill confiscate multipool coins if they can be identified.  See where people decide to trade...  As soon as one exchange does this, they will all have to do the same.  Multipools will be crippled as they would have nowhere to trade without massive risk, the values of coins will be allowed to rise naturally and commissions to exchanges woul rise.

What are the possible negative outcomes?  A bunch of multipool drones and owners get annoyed that their coins were confiscated?  And, so what?  If they were warned up front, then they can't bitch about it, and the miners would not want to be part of a pool that risked losing their efforts.  The power to kill multipools and raise the value of coins is in the hands of the exchanges, it just takes somebody to be first.

1.5MH/s of hashcows on it.  Incoming dump alert....

This is why the coinmarket exchange needs to take action against this sort of thing, just identify the pool deposits and confiscate them.  Cause them to waste their time andthey will bugger off.  All they do is leave the coin with high difficulty for everyone else to work through.  Sadly, without gravity well or actions from the exchanges, all coins will suffer at the hands of these morons.

When comparing the sell walls with buy walls, using BTC as the common component is a little misleading.

Example.

I buy 1M Leaf for 15 satoshi.   I require 0.15btc  thats actual existing real btc sat on the exchange needed to make that figure.

If I get my 1m Leaf and put a sell order in at 30 satoshi, then its a 0.3BTC sell order.  However... half that BTC on the sell order does not exist...yet.   Yes it will take an investment of 0.3BTC to clear that sell wall, but the seller may if it gets close be inclined to sell for 0.25, or even 0.2.  Its still a decent profit margin of 30%, but not all the BTC on the sell wall is fixed and set in stone, much of it doesnt exist.  So compare the volumes of LEAF being sold to the the current sell price to gain an indication of the actual value of BTC on the sell side imho.  Its only worth what the highest buyer is willing to pay, so take the last trade value and multiply that by the volume of leaf to see the BTC on the sell side in reality.

If the people who own the exchanges take the long term view (a week rather than a day) on the income they wish to make from trading, then they would just ban or confiscate any coins from the multipools and share with the people mining/trading/holding the coin.

Just think if you were the first exchange to publicly announce that you would confiscate any coins that you discovered were deposited by multipools and automatically add them to the balances of the other holders of the coin based on the the percentage of the coin they hold on your exchange...

The only people buying a coin are those that either A) believe in its long term value, or B) believe it will rise in price shortly.   Neither A or B are helped by multipools, so imho no buyer of LEAF would benefit from the mass sale of coins by a multipool.

So in this scenario, we have a group of buyers that dont want to see a multipool dump.  A group of sellers that also dont want to see a multipool dump and ruin their chances of selling at a decent rate.

Along comes a multipool and deposits X Million coins, much more than any other single user and instantly sells.  In future, if these coins were just confiscated and distributed among the true holders of the coin, then this would cause a sh*tstorm of publicity.  Every single person trading that coin who believes in it would jump onto that exchange to trade, increasing the exchanges commissions massiveley.  The people left behind on the other excganges would fear that the multipool will just dump there instead, so they will leave.

Results:

It may promote higher prices on an exchange where multipools have their deposits confiscated.
Multipools will only then be able to sell at rock bottom prices elsewhere, which gives true traders a bit of a bonus.
If this action is taken on all coins on that exchange, then multipools would be forced to drop all those coins from their hit list
Multipool drones will not be very happy having mined for maybe hours, for zero and will become disilusioned with the whole multipool idea.
Multipools eventually die.

If there is a way of spotting multipool trading on an exchange and taking this action, then the exchange will receive massive positive publicity from the altcoin network.  The first exchange to take this action would see a massive influx of trades.  The only way that other exchanges will keep their market share would be to take the same action.  Eventually all exchanges would have to do it to survive.  Which in turn, would kill the multipools dead.  No need for any gravity well, just common sense at the exchange level.

There is no protection from these mindless drones of multipools.  Every single coin that has any signs of becoming in any way popular is screwed by these morons.  The only way to avoid it is for it to do a doge and the newtwork has rate be so much higher than even the multipools hash rate that they dont bother with it.  But by then the coin is established any way.  This is the never ending battle between wanting to keep a coin under the radar, and wanting to increase its popularity.

Once the block halves then it may help, but of prices continue upward, the coin will still be pegged back to the same value per MH/s as every other coin that they hit.  The brainless morons that do this are happy to suck up 0.007 BTC per MH/s per day and live with it.  Hopefully whatever exchange they are dumpig at (probably coinmarket as they were mining it before it went on coined up), will just IP ban them and keep the deposits.  Thats what I would do for any multipool deposits - they are killing coins and keeping the value low, so the commissions to the exchange are low.  Those coins would be mined anyway whether the multipool were mining or not, its just that the coins would be distributed amongst a group of people that are more likely to care about the value and its longevity, and the value will rise.  When these coins are then traded at a later date, the commissions to the exchange are greater, as the value is greater.

The whole basic concept of multipools that do this is flawed, they simply stunt the growth of the very market they feed on.  Utterly stupid, indeed the only people more stupid are those pointing their rigs at these pools, because they get lower payouts than they would just mining for themselves, and the only person making any decent BTC is the person running the pool who doesnt even need a rig.   Yet more and more of these morons just mine away with the multipools.

EDIT:  I truly hope that this gravity well thing will catch on and kill these multipools and their mindless drones come begging for help figuring out how to trade, when to trade and what to trade.  They will get no help from me.

Block halving coming in very soon, still a gamble but imho worth ho!ding until we see what that does.  If it doesn't shift the price Immediately it will at least put the multipool tossers off.

Multipools stifle the growth of the entire market.  As soon a one coin becomes slightly more profitable than the rest, they hammer it until difficulty rises, or their autosells of large volumes drag the price back down.  Until the next one pops up, and they then hammer that one down.

That's the problem with multipools.  They have done this with every single coin released until there is a glass ceiling imposed on the entire market due to their predatory mining.  Their very existence is why the market is flooded with new coins, because just as soon as one looks to be taking off it gets hammered. So those chasing a large pay day from being early miners just move to the next new coin to try and make it big on that one.  And the cycle continues.  All because these multipool users can't think for themselves.  The owners of such pools are happy to cream off a decent pay out from the drones that use them, and are happy to just suppress the entire market as they are the only ones making any decent returns.  The sooner some developer comes up with a way of preventing these auto switching pools the better.

Lot that changes block difficulty every block helps as the multipools get increased difficulty as son as they join.  If the difficulty could raise 1000% if network has rate jumps by more than 1MHs in a short time would perhaps keep them at bay.

The price has never budged and is now suppressed because of the multipools.  They destroy the very market they want to profit from.  My btc per MH/s has been more than double what is expected from a multipool by thinking for myself and trading new coins or coins not touched by these idiots.  I even made more than multipools by mining cage ffs, that's how brainless these people are that use multipools.

coinmarket imho.  low fees and its working very well.

doubtful they are using a pool and will just run their own internal pool for it.  what the exchange should do, is just discover what IP or address is depositing regular values that match with those being mined on hashcows and then ip block it, and dump those coins into proper traders accounts as a gift, keeping a percentage for themselves.  If multipools want to fuck over every coin, then they should just be fucked over by exchanges and people who can actually be bothered to research coins, rather than acting like a mindles army of sheep.

but the multipools will auto trade as they mine, they wont hoard it all up to trade in big blocks.

As hashcows has mined about 14m in 1hr 40 mins (equivalent of about 200m a day) with no intention of holding the coin, then something needs to be done to stop this at an exchange level.  What do you think will happen when they dump those coins?  100m will wipe out the buy orders.  Leaving the coin with low value and high difficulty as they raised it up then leave to go somewhere else until the difficulty drops and they come back to rape it again.   This is exactly why rusing to get coins on exchanges and coinwarz etc is not good.  Its also a reason why no alt coin ever succeeds, because these mindless morons just keep playing whack a mole with every coin.

LOT, DOGE, LEAF, MEOW, all get hit until they are all at the same value per day/MHs as each other.  And then the idiots that use these multipools wonder why they dont get great returns.  

May be better to just put a limit on deposits per coin per hour. I.e Max 3 deposits per hour, that would stop them depositing and selling every time they receive a payout etc.  I'm sure there are things that can be done.

Get ready for an incoming dump from hashcows on the exchange.  I would recommend that the exchange look for a mass deposit/sell of somewhere in the region of 40m coins per 24 hours and IP ban the depositor.  Multipools kill the value of all ALTs eventually. Nothing manages to achieve any decent value due to the mindless pricks that use these multipools.  0.007 btc a day per MHs is it now the multipools are on, will look to mine something else now the multipool tossers have arrived.

Or you could just ip ban the account that deposits the number of coins they mine.

Regardless of what side of the green argument people fall on, the fact is there is an established economy and taxation system all based around carbon emissions.  Whether it is true or not that humans are responsible for this warming is completely and utterly irrelevant - this carbon emissions based economy/market is now too big and ingrained within governments taxation systems around the world that it will never be allowed to fail.

So, whether we are warming the planet or not, it is a wagon to which many businesses have attached themselves and done quite well out of it.  So why not do something along the lines of "being green" with the coin.  It doesnt matter whether any individual out there believes in global warming or not, all that matters is that there are enough people out there that do believe in it to make it a viable market to pitch the coin to.

I would be happy to leave this coin trading just the way it is until at least the first block halving.  maybe even the second.  Ideas on uses, projects and othere resources between now and when it gest listed elsewhere would be the best course of action.