Actually VIrcurex replied to my panic email about what a horror it was to see yet another garbage coin on Vircurex that it was high volume that made it attractive. A lot of the coins on Vircurex are reasonable seeming coins but have rather low volume. Maybe because there is way the heck more volume in scamming the masses than there is in selling them only the best of the best.
I wish they would drop Feathercoin and Worldcoin, since DOGE demosntrated that almost overnight an internet meme could conjure up enough hash power to PWN them both.
-MarkM-
There are stock exchanges that trade penny stocks of completely dubious value. I guess it works the same, if an exchange values its reputation, then its up to them to decide what goes in or not. Also, if folks are so into the lure of early adopter status, then let them take the ridiculous risks. The coin I develop (iXcoin) isn't as popular as many other coins, but at least it has a very secure hash rate and is extremely mature (2 1/2 years old). I certainly wish for more liquidity but I think long term it will eventually come. |
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I am not suggesting prohibition. Just tell people plainly that if they are into scams and want to participate in scamming people there are exchanges that specialise in that so go play in those exchanges.
Meanwhile try to find an exchange you can mention to friends without feeling like you are sending them out to get scammed.
In Canada we have CAvirtex which handles only Bitcoin and CAD, that seems maybe a little more conservative than most people here would prefer I expect.
There is also Vault of Satoshi, I guess it is time to see what else they carry besides Bitcoin and CAD, although I have found they are insanely hard to get clearance for since they are doing things like asking for two photo IDs, which no one in Canada even has unless they are globe-trotters thus equipped with a passport.
Though they also are inconsistent with that; after much argument with them over email they now claim a credit card or birth certificate will do as a second ID even though they don't have photos on them.
I have been using Vircurex so far, but when they suddenly listed DOGE that worried me a lot, then the fact they seemingly were not listing DOGE to replace one of the other scrypt coins that has even more pathetic hashrate thus even more vulnerability than DOGE that worried me even more. Are they too going to end up flooded with crap, if only by not dropping the crappiest of the scrypt coins they had when finding a more secure one (higher hashing power) to replace it with?
Any other exchanges that maybe have a few very carefully chosen altcoins instead of letting themselves get lobbied by scammers into adding scamcoins just to make a buck out of fooling the uninformed into buying into blockchains that are not secure and probably never will be secure?
-MarkM-
In fairness to Vircurex, Vircurex typically looks at hash rate to determine inclusion. DOGE had a high hash rate (probably #3 among all scrypt cois). Is DOGE a good investment. of course not. So maybe hash rate is not enough... maybe the coin should be around for at least 6 months prior to listing. Amyway, the responsibility falls on the exchanges to ensure the quality of the coins they trade. Of course, that doesn't prevent stuff like NXT that create their own exchanges! |
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I am not educated on the core workings of the systems. Are you saying that this is not a good coin?
copy and paste coins are better since they are built on tried and proven technology. this looks to me like a school project written by someone with just the basic understanding of java. |
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Man, the B.S. is unbelievable.
Well, I think u shouldn't bother with talking to me anymore, unless someone quotes ur post. Welcome to my collection of trolls. You have a fiduciary duty to tell every one who invested in this system. (1) How much experience you have developing Java programs. (2) How many hours you spent writing this code and testing it. If you think what you are doing is legal, then you have a lot to learn. |
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I'm a bit disappointed with that source...
Mixing the Servlet with the block generation logic, all with inner classes that act on some static class variables, no capsulation, no comments, NO TESTS!?!?
Amounts in NXT and "Cents" are used interchangeably everywhere...
But anyways, it's early days and I already invested some BTC in the Coin...
First question:
getEffectiveBalance returns 0 if Block.getLastBlock().height - height < 1440.
If I understood that correctly, it means that a new account will return 0 until the first transfer to it was 1440 blocks ago? Why???
FYI: Transactions and Blocks only contain full NXT, no cents, so the Wiki entry about granularity of transactions is wrong.
Disappointed would be an understatement. A servlet... with all static member variables. Inner classes with most all member functions defined as static. Throwing of the Exception class (not something inherited from it). This is amateur hour. There's no magic here... its just amateurish stuff. Don't wait for other folks to discover the extent of incompetence here, just leave it. |
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am I supposed to care about this ? who the f cares about scamcoin NXT
Well, the folks who got scammed should care. |
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Nxt source code has been released - https://bitcointalk.org/index.php?topic=345619.msg4287127#msg4287127The code contains 3 flaws - serious, critical and fatal. The 1st person who reports these flaws will get 1'000, 10'000 or 100'000 NXT reward accordingly. Each flaw has a small description. Here r SHA256 hashes of these descriptions: bd34c891e9e3df9ea8b8eafc4dc3edc129f81365d42bf204ea58271e320f3ce5 - 1K reward 888f278c773d39b8334a651d84ee78871bd0e5d45e09be8fdb190ba1b2969530 - 10K reward f5236644f4306699bb0fa90a905afe2454683c0aad6995e4433d712e2fdb257c - 100K reward The flaws must be reported before the 3rd of April, after that date they can be revealed at any moment. If u think that u found a flaw, post here its description. Mathematical proof is not necessary, common sense should be enough. If ur guess is correct u may * get the reward, if u find a non-injected flaw then u'll be asked for more formal proof (u may get a reward too). NB: Some guys mentioned that they would just decompile 0.4.7e binaries and compare the source codes to find the flaws. As a countermeasure against such the trick u still must explain why there is a flaw. ------------- * - BCNext reserves the right to refuse to pay a reward without any explanation. This is an anti-troll countermeasure. Man, the B.S. is unbelievable. |
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And the joke has been revealed... one single java class (albeit with a bunch of inner classes). C'mon folks, you expect this code (likely written in a single afternoon) to be secure enough for your investment? |
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Talk about amateur hour!!
So let's get this right, the source code is released and we find it all in a single .java file.
One class with a lot of inner classes.
Does the developer ever know what a java package is for?
Then he declares all the member variables of the Nxt class as static. Does he know the difference between static and instance variable?
To place matters worse, the Nxt class happens to be a servlet. Does he not know that a new servlet is instantiated per thread??!
Well, to be honest, 21 BTC original invested may have been too generous!
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So NXT finally releases their source code. Guess what... it is a single Java class file. Yes, one Java class, appropriately named Nxt.java Yes, one Java class, that can be written in a lazy afternoon. Yes, one Java class, that is worth like over $80 million. Sigh! Here is the link to the source code: https://bitbucket.org/JeanLucPicard/nxt-public/srcContents: A license file A REAMDE.txt file The single Nxt.java class |
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You could refuse the offer, but look like you felt for the trick... If this is a fraudulent scheme you became an accessory for their criminal enterprise
This is uncalled for. Biomech didnt ask a thing, and got offered a free miner. No one should be expected to refuse that based on a hunch this might be a scam. I would however, be careful not to put too much weight on the results. Not that i have reason to suspect Biomech from being untruthful, its just that the ability of anyone to cram a few off the shelve technobit boards in a standard mATX case was never in question. Do we know the full names of Josh and Jim? Let's be clear, these folks are clearly operating in U.S. soil. Wire fraud is a serious crime. Bitmine.ch likely have signed a contract with AMT. I am sure that they also verified the credentials of their partners. So far, the company hasn't been executing well enough. But like BFL, it may be more incompetence than being a scam. One quote to leave you all with: Napoleon Bonaparte — 'Never ascribe to malice that which can adequately be explained by incompetence.' |
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You guys really have no skin in the game with iXcoin to really have a say on its future development. That is what I find disappointing. You got opinions about how it should work, but you have no skin in the game.
I have been pouring bitcoins into IXCoin trying to do as I do with DeVCoin, the problem is that putting buy offers at every Satoshi of price all the way up is just impractical so I had to go in steps of 100, 25 or 5 Satoshis of price. I have bought thousands and have them sitting in sell offers waiting to replenish my capital so I can put even more buy offers in place. I have spent 16+ hour days just typing in offers because Vircurex lacks a tool to say "distribute this many coins into offers at all prices ranging from this price through this price". It is going to take a long time to fill up the buy side orderbook the way I do for DeVCoins but I just keep plugging away at it and some day I will get there. I even take money out of my DeVCoin-upholding to put toward upholding IXCoin. I also have p2pool set up to merged mine so I can support IXCoin's hashrate without thereby sacrificing my ability to also mine other coins that for whatever reasons other pools have not seen fit to include, such as I0Coin and GRouPcoin that are now on Bitparking's mmpool merged mining pool and CoiLedCoin and GeistGeld that as far as I know are currently not on any public pools. I am spending fortunes on mining equipment because migrant miners cannot be trusted to stick around securing blockchains so I feel it necessary to have dedicated equipment so I know for sure there is hashpower dedicated that will not run off chasing the latest scamcoin. I also run an Open Transactions server and make available tables and plots at http://galaxies.mygamesonline.org/digitalisassets.html and have been gathering more data for such tables and plots ( see http://galaxies.mygamesonline.org/latestrates.inc ) that will be added to the tables and plots at the next update / expansion of the tables and plots scripts. How much skin do you have in IXCoin? -MarkM- My apologies... I forgot that you were market making iXcoin at Vircurex. |
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Folks, I sent out a query to their supplier bitmine.ch info@bitmine.ch asking them how many chips and logic boards has AMT ordered from them. Please do the same! We need to get to the bottom of this. |
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Update.
Jim at AMT has just sent me a tracking number. I should be receiving the unit today, according to UPS. Being what a crazy day it's going to be, I probably won't be able to update anyone beyond that till after the weekend, but I will do so as soon as possible.
What did you order? When did you order it? Can you send us photos when you receive your unit? I'm the guy they decided to give an 80 GH/s unit to for review purposes. I can't comment on the order chain, as I'm not an official customer. I'm in fact still not entirely sure why they picked me, other than Jim and Josh seem to like me. I am going to be shuttling back and forth all day today, so it is unlikely I'll have time to unbox it when it first arrives. As soon as I have time (probably Saturday evening) I'll unbox it on video, and post the video. I'm going to make a youtube channel where I rant about cryptocurrency, and that will be it's first video. I'll post the link as soon as it's relevant. After that, I'm going to put it through it's paces and video the whole process. They asked me to do a thorough review, good, bad and ugly included, and that's what I intend to do. Kind of on topic, do you or anyone reading this know of a list of SHA256 alt coins? I'd like to try solo mining with this beast, but with bitcoin that would take literally years  Well, that's disappointing! I mean 80GH/s unit, you can buy that off ebay! Hopefully you get one of their 200GH/s+ units. Please try to determine that the unit they sent you use BitFury chips. I would be highly suspicious if a unit the got was an Avalon 55nm or a Bitmain system. |
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Update.
Jim at AMT has just sent me a tracking number. I should be receiving the unit today, according to UPS. Being what a crazy day it's going to be, I probably won't be able to update anyone beyond that till after the weekend, but I will do so as soon as possible.
What did you order? When did you order it? Can you send us photos when you receive your unit? |
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GeistGeld is the super-fast-transactions small-change "sleeper" coin of the merged mined family, how about putting GeistGeld donation addresses in your .signatures so folks can send you some? Then hang on to them and also add them to your merge when mining. (But don't forget to also merge CoiLedCoin too of course, that is also somewhat of a "sleeper" at the moment so like GeistGeld is great for picking up at low difficulty right now before some public pool picks them up.)
-MarkM-
MarkM, I have no real way to acquire these 2 coins that you mentioned. Are there even websites on these? Are there any block explorers? IXCoin has been traded on an exchange since 2012. The price has been established for years now. These coins you mention don't trade anywhere. Sure, you have a plan to make you a lot of money by hoarding these old and dead coins, but without any proper dev. support... they will essentially remain dead. I mean, I could create one of these coins tomorrow and it'll be more alive than any of these coins you hold today. |
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MarkM
I am sure there might be upside for the other merge coins, but none of them except i0coin is traded in an exchange.
iXcoin is unique compared to your list in that with NMC, DVC it is mined with the very large pools (i.e. GHash.IO). The reason no major pools will include these other coins is that the mint rate is different and therefore has a significant effect on the resource consumption of the pool. That is why I0Coin has such a big problem with its implementation. iXcoin has the same block rate as NMC, DVC and BTC so it works without issue in these big pools.
iXcoin is traded in at least 2 exchanges. Vircurex and Cryptsy. The problem though with Vircurex is that there is really no liquidity. Just today, somebody sold like 120,000 IXC for .00012 which is really a dumb move since Cryptsy was buying at over .00016.
Finally, the iXcoin strategy is to focus on (1) international markets (2) user defined currencies. All these other coins that you mentioned really doesn't have any development support and no real plan on how to get anywhere.
You guys really have no skin in the game with iXcoin to really have a say on its future development. That is what I find disappointing. You got opinions about how it should work, but you have no skin in the game.
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Anyone requested a refund and got it?
I called earlier this morning and requested an upgrade as per their Miners Protection Agreement, since anyone who ordered anything less than a 220GHash miner during the month of December is entitled to, since at the time of shipping (3-4 weeks after ordering) nothing below that would have made an ROI, and if they refused to do so requested a refund. We'll see what happens with it. Something tells me I won't hear from them, though, as I emailed them about ten times since I placed my order and never got a response. Not a word about my 128GHash or 1.2TH miner. I'm highly disappointed. Did you reach someone on the other side of the line? What did they say? I mean, 220 GHs miners are in stock at BFL. Bitmain is shipping them out. Another company with Avalon 2 chips is shipping them out. A firm in Silicon valley with Avalon 2 chips is also shipping. So AMT have better ship them out without delay. |
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