Alexhiggins keeps digging. Arcanis seems to admit nokoin IS diseased. Alexhiggins, http://forum.neucoin.org/t/3-5-hours-of-transactions-removed-from-the-block-chain/2057/38"This in essence is the classic 51% attack and from what I am gathering this coin in essence is doing that by design" "I don't see this problem going away even when 50% of the coins have distributed" [Alex cure] "it should select the latest block on the chain at time of staking as its parent." Arcanis, "A classic case of a cure worse than the disease" nokoin, now with incurable 51% attack disease built in, giving 100% untrustability for users. That was my first impression...
Hmmm.... Maybe it was some kind of unintentional(?) 51%-attack. ;-)
But obviously it's not just a temporary problem. It seems to be a constant attack. I've used the word "suicidal design" so often, but with focus on the effect of the economy. It's obviously also suicidal in the technical design... Entertaining to see their reaction: Self-buying on the market for some volume and a rising price. Some sand in the eyes... but it won't help. No it won't help, it is just paying more btc to rebuy survey coin. It is just for show. It is not new money on the market, not new buyers. I reported 88btc on the buy order book several days ago. Now it is 66btc on the buy order book. (about 22btc spent on this rally, not replaced by "fresh" btc) It is nokoin buying to inflate the price. Moving their btc up the book. Jumping up their own bids to create an illusion of "other" buyers. A couple of days ago the market was flattened by, then (in part) crashed by the 33.3333 attack. A tiny amount of btc used correctly, crashed the market. At no/minute cost to the dealer. It was made very obvious. Opposite to nokoin tactics. Don't think nokoin liked that. So todays show of mussel. A counter attack. (It could also be entirely to bury the bad news Alex brings, or at least in part) There is no bot there. There is no inside sell, sell, sell. Yet. Just buy, buy, buy. (I wonder if the foundation will start buying "unrestricted coins" soon to "free up" team profits. Maybe they already have a "behind closed door" deal to liquidate) Maybe a great chance to sell. (However nokoin can easily set the price higher for a few more btc. The market is so thin. Very few given out?) Now the price is up, there are even more sell orders, (up to .00004) than previously. Now nokoin are spending more btc per nokoin they don't want. The more nokoin they buy back, the less users they have. The more nokoin they have, the more they stake and compound. The more they stake and compound, the more they must distribute, the less value per nokoin. The more they distribute the more they must buy back. It won't help. It is just a statement that nokoin is not yet dead. An illusion. A bit like the bottle of champagne newtoallthis2s' "has on ice" for me. I'm completely sure that they bought more than 70% of the ICO and more than 70% of that what was really on the market. They're playing with themselves. Some real Investors may still hold some Coins, but can't be much. I really don't understand what the hell they believed and I don't understand what they're doing now. I mean, do they really believe that will help? They have serious network issues and exactly now they want to give the impression of higher volume and a rising price? I know what that is: Desperation... |
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Alexhiggins keeps digging. Arcanis seems to admit nokoin IS diseased. Alexhiggins, http://forum.neucoin.org/t/3-5-hours-of-transactions-removed-from-the-block-chain/2057/38"This in essence is the classic 51% attack and from what I am gathering this coin in essence is doing that by design" "I don't see this problem going away even when 50% of the coins have distributed" [Alex cure] "it should select the latest block on the chain at time of staking as its parent." Arcanis, "A classic case of a cure worse than the disease" nokoin, now with incurable 51% attack disease built in, giving 100% untrustability for users. That was my first impression...
Hmmm.... Maybe it was some kind of unintentional(?) 51%-attack. ;-)
But obviously it's not just a temporary problem. It seems to be a constant attack. I've used the word "suicidal design" so often, but with focus on the effect of the economy. It's obviously also suicidal in the technical design... Entertaining to see their reaction: Self-buying on the market for some volume and a rising price. Some sand in the eyes... but it won't help. |
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Cant wade through 114 pages: Can someone tell me in a few sentences whats going on with this coin? Just a brief thing would be greatly appreciated. As far as I can tell the coin seems healthy, its on the rise currently. On the surface it seems like a decent punt - but this is crypto  There is a lot to say... but let us start with the inflation and the "distribution": The Neucoin-Team sold about 100 Mio Neucoins during an ICO to the public. There are a lot of signs for selfbuying, but the problem is before all: There were 3 billions in total at launch. So only about 3% were on the market. 97% are hold from the team. All Coins staking with 100% yearly interest rate, so the total amount is at this moment: 3,245,873,429 Out of market-perspective it's more than 200% inflation since launch, even if those Coins don't reach the market now. The top 10 addresses are holding: 3,103,776,599 which is 95,6% of the total. Nice distribution, right? They have to buy on the market to stabilize the price, at the same time they're staking Millions of new Coins everyday and are unable to distribute them without crashing the price to 1 sat. Take a look here: http://www.neucoin.io/richlistBy the way: The first 100 addresses holding 99,6% of the total, which is an clear indicator that the ICO was never really sold to the public. It's a dying project without any chance. Your impression of health is not right, because it's completely manipulated. And what I describe is just the economic-side that is suicidal. There are a lot of other issues, like this one: 3.5 Hours of transactions removed from the block chain
http://forum.neucoin.org/t/3-5-hours-of-transactions-removed-from-the-block-chain/2057 |
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Big bad M3ndi3 now BANNED from nokoin forum.  "This user is suspended until October 22, 2016 10:37am. Reason: Spreading fear, uncertainty and doubt (FUD) and subtracting value from the NeuCoin Project. Both here on the NeuCoin forum and on other social media." Er, most people would say truth and concern, not FUD. Suspended for spreading truth and concern. Yes OK, the truth does tend to subtract value from nokoin, cant argue there. -But if you are what everyone suspects on this forum, then yes, I was most certainly ban worthy. You fear me because I speak the truth and people will listen to what I have to say. So yes, if the truth spreads fear, uncertainty, and doubt to your plans, then I definitely deserved the ban:)
Welcome to the club of those who dared to speak the truth!! the ban list has probably already outnumbered the active users there! Yes, the truth does tend to subtract value from nokoin because it is all about deceit, hype and smoke screens. As another ex-nokoiner turned dissident Gizfreak said, it is as transparent as a brick wall. After all this schizophrenic behavior by the Nokoin regime and Daniel Kaufman's track record of stealing and selling user data, it is just plain stupid for anyone to trust them with their personal details. That is like handling your money to Bernie Maddoff for investment. as expected I was also 'suspended' and my post deleted https://bitcointalk.org/index.php?topic=944933.msg12741604#msg12741604 nokoiners have by now lost almost half their investments, everything else remains the same funny how they say suspended for one year?? LOL as if anyone in that growing list would be interested in returning after one year? Or that this project will even be around after one year?? When you ban someone like M3ndi3, who previously has contributed enough to Nokoin to be made moderator, it shows how desperate they are to keep the appearances. The more an authoritarian regime is about to crumble, the more paranoid it becomes. Arguing about the contradictions in the system of North Korea itself is treason and would be treated as a major issue that one can not live in North Korean society. Over 70 percent of reports of Korean Central Broadcasting are allotted for Kim's idolization and propaganda system. The rest of the reports are spent on blaming and predicting the collapse of the United States, Japan and South Korea.
The Reporters in North Korea spend their time writing flattering articles to Kim. Kim Jong il used to punish the people who wrote from different point of view, saying "Words describe one's ideas".
Nokoin, doing crypto the North Korean way.North Korea is maybe a niche where Neucoin can find it's place. ;-) Do you know who exactly is banning? Is there one person who plays dictator or is it consensus of the team? I just ask, because I believe that there is more drama behind the curtain than in front of. In fact I believe, some are already gone or with plans to leave, or more precise: with questions how to get out. It looks like a sect. Very easy to get in, but damaging to get out - even more damaging to stay. Investors only lose some money, but the persons behind are losing a lot more. And that's the main point that is so mysterious. What the hell did they believe? How naive this is. |
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Hey... that is awesome. Who's behind it ? I'll help promote this with a big discount. Needs a great app demo with some cool animations. Hmm never even thought about factom's use case for photos. This could be big in court cases when trying to use digital photographs as evidence I would think. You will be interested in these demos of working: https://vimeo.com/129178220http://www.youtube.com/watch?v=x81M9_W4E34"You can use it like a copyright to verify your rights to photo, video or any clipboard content that you created" "After you download the "Block Notary" app you can store the digital fingerprint of any content from your phone in the most secure and reliable public ledger ever created by humankind—the Blockchain" Awesome! Nice to see this is picking up Speed! I hope, and I believe, that we will see a lot of action in some time. Maybe several new great apps every months or even week. |
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Oh boy... nice dreaming: Exactly! At launch, neucoin had 3 billion coins and the presale price was $0.01 which means the marketcap was 30 million USD. So if neu reaches a marketcap of 4 billion, a presale investor would have multipled his investment around 130 times. http://forum.neucoin.org/t/neucoin-price-will-rise-or-fall-more/2049/9Som facts: Coinmarketcap shows Neucoin with a marketcap of $ 911,580 http://coinmarketcap.com/currencies/neucoin/Why? They calculate only those Coins that are on the market right now: 142,221,951 NEU They also hide the > 3 billion that are hold by the team. So you have to chose how you want to calculate. With just 142 Mio or with more than 3 billion. If you would like to calculate with > 3 billion, you should ask where would the price be with 3,2 billion of Neu-supply free on the market - but with the current marketcap. ;-) If you would like to make predictions about the price, you should ask how the price will react if this irrational high inflation would be distributed. Let's say, everyday just 1 Mio new Coins on the market. How long would that take? Nearly "forever", because they stake more than 7 Mio everyday. How would the price react with just 1 Mio new Coins everyday? How would be the reaction with that amount they stake everyday? Right, the price would sink like the titanic. |
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How many of you have dumped the free survey coins?
I think, the most of those who writes in this thread never touched Neucoin. The chart looks like as if everybody would dump it. The buywalls are melting. Yes buywalls are melting fast, there was a big buywall at 2300 now it's almost gone. It's gone, price still decreasing - and it goes without saying, that the Neucon regime/team is still the only buying party.  I really would like to know how many Coins are still out there, in the hands of in real/independent Investors... Imagine where the price would be if they would've really sold the whole ICO to the public. ;-) Or imagine if they would distribute really what they stake everyday. Since launch: 236 Mio new Neucoin. 236% inflation out of market-perspective. |
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How many of you have dumped the free survey coins?
I think, the most of those who writes in this thread never touched Neucoin. The chart looks like as if everybody would dump it. The buywalls are melting. |
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Maybe I have rocks in my head, But I like this price, worth A throwing in a BTC at least.....
Good luck with that. ;-) |
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The first reaction!!! ophelie: Hi,
We're currently restructuring our mining infrastructure, hence the slowed down network for a few hours. When relaunching the client, it mined while syncing. This is why it mined a longer chain than the one with the PoW blocks that got orphaned. I'm taking measures so it doesn't happen again and we'll be removing this behavior from the client in a future release.
Keep in mind that while a glitch caused by the foundations NeuCoins today is obvious to the network, it will become less and less important as we continue distributing NeuCoins.
Please not that neucoin.io doesn't handle reorganizations properly (we noticed this while looking for discrepancies between our own blockchain explorer and neucoin.io a few weeks ago). I agree that it is interesting to be able to look at orphaned blocks / chains - and if some of you would like that feature, we definitely will add it to our own.http://forum.neucoin.org/t/3-5-hours-of-transactions-removed-from-the-block-chain/2057/24 |
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http://forum.neucoin.org/t/3-5-hours-of-transactions-removed-from-the-block-chain/2057/21alexhiggins732: " I apologize for throwing around word like fraud and pointing my finger at the foundations which hold these addresses, and perhaps I am being too loose with such terms, but the longer I wait the more infuriating this becomes." No, Alex, it's okay to use those kind of words when you refer to Neucon and the NoKoin regime. I can only advise everybody to start reading this thread from page 1. Grab a beer and invest the time. I agree. But most wont spend the time. Whatever this turns out to be, nokoin control this centralised network. You are ALWAYS under their control? They can change history anytime they like, IF they want to. They own 99% of the trust. http://forum.neucoin.org/t/technical-questions-and-clarifications/531/18Alex, what I don't really understand is... alexhiggins, "Malicious or Incompetence? I don't care to debate.... honestly. I just want it fixed..." http://forum.neucoin.org/t/3-5-hours-of-transactions-removed-from-the-block-chain/2057/19...You want this fixed so you can carry on, regardless of fraud or incompetence? Sorry I dont get it. Is it all about profit? (I can only assume nokoin pow is very profitable for you?) or what else motivates you here? (If you believe in nokoin long term, why wouldn't you care about fraud?) He is a miner and wants to make some money as long as it goes. I can't blame him for that. Everybody without a horse in this race already know what it is.. and that nobody should touch it. In fact it's already dead - like a zombie. I agree, as a miner he needs to make money. No problem there. Just wondered if that was the only motivation to not care if he's been defrauded upto now. By exposing this "irregularity", the question of fraud needs answering regardless weather Alex cares or not. "Others" will care to know. If mining nokoin (pow) IS all about profit, and Alex has been defrauded, then I would think he should at least "care" to note that fact. I think he does care and he already called it fraud, even if he does it subtile. He could have hide it what he didn't. That he made it obvious for everybody to see, including some possible scenarios so that everybody can come to own conclusions, is enough. And now everybody can think about the question why there is no reaction and no explanation or some information from the team since 20 hours. Hey I'm not trying to knock Alex, Just trying to understand why malicious behaviour, leading to fraud does not matter. I know. Didn't want to say that, just round off what you said. ;-)
I respect his candour.
The silence from nokoin is far more substantial.
Not even an acknowledgement of Alex concerns.
All team and mods seem to just disappear.
As Alex stated the longer he waits for an answer, the more frustrated he is/will become.
They are still there, but I believe they're leaving. Maybe some members already left the sinking ship. And I'm sure, they all regret. In 10 years, when everybody will google their names, the Neucoin-story will be still there. |
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http://forum.neucoin.org/t/3-5-hours-of-transactions-removed-from-the-block-chain/2057/21alexhiggins732: " I apologize for throwing around word like fraud and pointing my finger at the foundations which hold these addresses, and perhaps I am being too loose with such terms, but the longer I wait the more infuriating this becomes." No, Alex, it's okay to use those kind of words when you refer to Neucon and the NoKoin regime. I can only advise everybody to start reading this thread from page 1. Grab a beer and invest the time. I agree. But most wont spend the time. Whatever this turns out to be, nokoin control this centralised network. You are ALWAYS under their control? They can change history anytime they like, IF they want to. They own 99% of the trust. http://forum.neucoin.org/t/technical-questions-and-clarifications/531/18Alex, what I don't really understand is... alexhiggins, "Malicious or Incompetence? I don't care to debate.... honestly. I just want it fixed..." http://forum.neucoin.org/t/3-5-hours-of-transactions-removed-from-the-block-chain/2057/19...You want this fixed so you can carry on, regardless of fraud or incompetence? Sorry I dont get it. Is it all about profit? (I can only assume nokoin pow is very profitable for you?) or what else motivates you here? (If you believe in nokoin long term, why wouldn't you care about fraud?) He is a miner and wants to make some money as long as it goes. I can't blame him for that. Everybody without a horse in this race already know what it is.. and that nobody should touch it. In fact it's already dead - like a zombie. I agree, as a miner he needs to make money. No problem there. Just wondered if that was the only motivation to not care if he's been defrauded upto now. By exposing this "irregularity", the question of fraud needs answering regardless weather Alex cares or not. "Others" will care to know. If mining nokoin (pow) IS all about profit, and Alex has been defrauded, then I would think he should at least "care" to note that fact. I think he does care and he already called it fraud, even if he does it subtile. He could have hide it what he didn't. That he made it obvious for everybody to see, including some possible scenarios so that everybody can come to own conclusions, is enough. And now everybody can think about the question why there is no reaction and no explanation or some information from the team since 20 hours. |
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http://forum.neucoin.org/t/3-5-hours-of-transactions-removed-from-the-block-chain/2057/21alexhiggins732: " I apologize for throwing around word like fraud and pointing my finger at the foundations which hold these addresses, and perhaps I am being too loose with such terms, but the longer I wait the more infuriating this becomes." No, Alex, it's okay to use those kind of words when you refer to Neucon and the NoKoin regime. I can only advise everybody to start reading this thread from page 1. Grab a beer and invest the time. I agree. But most wont spend the time. Whatever this turns out to be, nokoin control this centralised network. You are ALWAYS under their control? They can change history anytime they like, IF they want to. They own 99% of the trust. http://forum.neucoin.org/t/technical-questions-and-clarifications/531/18Alex, what I don't really understand is... alexhiggins, "Malicious or Incompetence? I don't care to debate.... honestly. I just want it fixed..." http://forum.neucoin.org/t/3-5-hours-of-transactions-removed-from-the-block-chain/2057/19...You want this fixed so you can carry on, regardless of fraud or incompetence? Sorry I dont get it. Is it all about profit? (I can only assume nokoin pow is very profitable for you?) or what else motivates you here? (If you believe in nokoin long term, why wouldn't you care about fraud?) He is a miner and wants to make some money as long as it goes. I can't blame him for that. Everybody without a horse in this race already know what it is.. and that nobody should touch it. In fact it's already dead - like a zombie. |
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No official reply at all from neucoin team about what alexhiggens found :-/ I recall sandrine saying "once the coin is launched the floodgates (communication) would open again". Heck their Twitter wasn't even updated since October 15... You would think they would have let people know their Survey coins were released. Their is literally nothing you can do with the coin except lock it away in a growth account or sell it for Bitcoin. Facebook HTML5 games do not take more than 7, 5, 3 or even 2 months to make. The launch was supposed to be 2 months ago and they told us that the game was getting made since then. The problem is they probably don't have an API to connect to their web wallet and have no idea what to do since their head dev kuroush is gone.
There's 4 btc left on .00002300 and then the next one is 12 btc for .00002200 ...
Before they gave out the survey coins I said that they couldn't give them out, because people would dump them but they also can not hold them back. What they did is some kind of middle ground. They gave them out but without leading any attention on that. And it's obviously not that easy to get them. So, nobody can say they didn't give the coins out, but it's also not too much what they had to give out. It could be called smart, but what it shows is desperation. By the way: They still need a lot of money... https://blockchain.info/address/3MrNuksZ1VePU3dGiSQFiouWerJUJgDkfH |
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And, for the record, a mod has contacted me via IRC and asked for my debug logs to troubleshoot the issue while suggesting that perhaps I was somehow "seperated" from the network and being the only mining pool would make me vulnerable to such disconnection.
I kindly replied, that I was on the internet the entire time, as was the daemon running neucoin.io's block explorer and even the daemon that is feed the official block explorer, all of which report the same block chain with the same PoW awards for hours before forwarding the logs.
While not part of that response, truth is during the entire time that as everyone else was connected to the "network" known as the internet that all other wallets connect to, the foundation's wallets failed to mine, which are the only wallets with enough funds to mine with any frequency. After hours of not mining, with the pool getting 100k+ in mining rewards, the block chain just ends up entirely being replaced with the foundations wallets earning the interest they would have if their wasn't an outage in their internal network.
Hmmm.... Maybe it was some kind of unintentional(?) 51%-attack. ;-) Looks like we are dealing with some kind of "unintentional" (because incompetence) timedrift exploit: It seems like a flaw that doesn't affect PPC, but could effect other PPC clones with narrower parms ...to Sunny King's defense, it's a flaw that could exist when Peercoin is redesigned in a clone coin fork in a way that doesn't work the same way Peercoin was designed. Peercoin is exempt from this problem because of the maturity as you stated and I brought up. Other coins that fork peercoin and start making changes to its code need to understand why the "parms" are what they are in Peercoin. They're carefully thought out and decided before Peercoin launched. Peercoin isn't written to be idiot proof (industry term) for new coin creation on forked github projects. If some one wants to use the code and make their own forked coin, they need to understand how and why Peercoin works the way it does. Not what file to edit, to change the "parms" and that's it. Sunny did leave a comment in the code that is very interesting (that I bet a lot of PoS coin devs didn't read or if they did, did not understand) // The following split & combine thresholds are important to security // Should not be adjusted if you don't understand the consequences http://www.peercointalk.org/index.php?topic=2058.0That's one example. Not necessarily about what we're talking about here. But it's an example how some newbie coin devs just change "parms" numbers, work on a pretty looking gui wallet, and release a forked clone that is a bad implementation of PoS. Nice find! Most likely it's something like that and they just don't have any clue what to do - incompetence. There is absolutely no reason that they are completely quiet about that, unless they absolutely don't know.... what to do and how to fix it. Otherwise: They are completely quiet about a lot of issues. I'm sure that they know since some time that it's done. |
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While you have made many good points,I don't think this one has any basis.
It is evident that foundations are not buying the coin to support the price, which is why it has fell so sharply. I have seen an 18 neu (less than .10 usd) sale drop the price 10%.
The increase in wealth displayed on these graphs comes not from buying on the exchange but instead from "interest" their accounts are gaining from staking.
For proof you need only look at the block chain. About every two minutes two PoS award gets posted and they usually result in a payout of 1000-10000 in Neu.
Because they hold so much neu, their accounts stake while others are waiting weeks or months to stake.
That's why their holdings are growing so much, not because they are buying on Bittrex. The buy limit orders on Bittrex are another fraud. As soon as the bid gets anywhere near the bigger buy orders they are cancelled and re-entered with a much lower bid.
For example, the 18+btc bid a day or two ago was "buying" at 0.00002375..f and was much larger... as soon as some one bought few, the order was cancelled and the bid was lowered to .00002000. Those orders a facade giving the impression that coin is actually being backed by real money.
You believe any real investor would buy this:  ...on Bittrex? I know that their holdings grow because of staking. But there is no staking on bittrex. So why should anybody else buy millions on bittrex and hold them on bittrex? And where would the price be without the buy-walls? And it's visible that the first two accounts grow when there is selling. Edit: You're right that the foundations are not buying if that implies you would see it on the foundation addresses. What I say: It's the team and they hold it on bittrex. Now it's at 4,225,552, so the screenshots are not actual. |
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And, for the record, a mod has contacted me via IRC and asked for my debug logs to troubleshoot the issue while suggesting that perhaps I was somehow "seperated" from the network and being the only mining pool would make me vulnerable to such disconnection.
I kindly replied, that I was on the internet the entire time, as was the daemon running neucoin.io's block explorer and even the daemon that is feed the official block explorer, all of which report the same block chain with the same PoW awards for hours before forwarding the logs.
While not part of that response, truth is during the entire time that as everyone else was connected to the "network" known as the internet that all other wallets connect to, the foundation's wallets failed to mine, which are the only wallets with enough funds to mine with any frequency. After hours of not mining, with the pool getting 100k+ in mining rewards, the block chain just ends up entirely being replaced with the foundations wallets earning the interest they would have if their wasn't an outage in their internal network.
Hmmm.... Maybe it was some kind of unintentional(?) 51%-attack. ;-) |
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