Coinmarket cap has redone their calculations, the number is what has been produced by miners. So 84000 coins produced, and over 1 million coins last I checked available for sell orders on poloniex. So, dev has dumped the premine and gone silent. Out of all the country/region coins, this is the only one you can say is a scam for sure.

EDIT: Also, as my final say on the matter, if I was going to be suspicious of forum members being involved in this scam, then there are two members posting here that could be involved. Both Niothor and flipstyle posting here both do the following:

1. Defend the developer's fraud.
2. Spend a great deal of time posting FUD and personal insults on other country/region coins.
3. Gain some perverse pleasure at seeing people lose their money to Aphroditecoin or any similar venture.
4. Refuse to acknowledge that there is any merit to conducting an airdrop and introducing people to cryptos this way.
5. Are generally horrible people.

There may yet be a way to salvage this coin and do something with it for the benefit of Cyprus, I'll post again here if anyone is interested and there is a way to contribute. Otherwise, there is no point in buying this coin at all and it should be left alone.

hi devs,
we should change GRS to a POS coin,look at the price of BC,FAC,etc,It is POS coin's world now.

I love to read the rubbish of the Pesetacoin emos in this thread.
One of the things that i love most about the dev is how he still keeps the plan on, ignoring each and every spaniard that comes here to make FUD.
Is simply, those who believe in the coin, buy it now, is cheap in mining terms. those who despise the coin, the dev, all things crypto, spanish and the world in general, go rush sell them.
At the end, some of us will use it for our everyday lives, to have a cheap, fast, and casual medium of wealth.
The rest, especially those you know who, can go back to the Pesetacoin desert. I mean, forum. kthxbye.

Ah the stink of the most rotten, raw mendacity! One of them packwolves at least admits it although one can't possibly put the common place of "have the decency" next to it because it is so obvious that these wolves don't know what decency is.

Lets go to the basic fallacy: They all pretend, first the interest of the coin and it "future". Them not being Spaniards obviously and having clearly demonstrated that their interest is only to get out and throw the bag they are holding at the slightest of opportunities. Of course they were blinded by their greed coming in and remain so, because they are stupid beyond their greed, first and foremost. Otherwise they would clearly see that, UNDER ANY AND ALL PERSPECTIVES, the only and very remote chance of even a very limited success of this coin hinges, exclusively, in being adopted to some level by a substantial amount of the Spanish population... never mind that this is supposed to be, you know, the "money of the people" ... of Spain, that is. They know this. The dev, stupid as his actions have demonstrated him to be, knows this. And yet, the dev, who is the one making the decisions, is so far removed from reality that even dares to put a "value" in giving -from his own  pocket, mind you- 1 SPA (worth a cent and a half, if you can find somebody blind enough to buy it) to beta testers of the distribution software. Evidently, this guy lives in a parallel reality. So, no one will be surprised to find that for him 1,000, 2,000 -let alone 5,000-10,000- SPAs are a fortune in the making --err, let's clarify that, as stated above 1,000 coins will be worth much less than 5 euros since a significant part of those people receiving them will dump them as soon as they can for real money. So it is a given that whether giving away 2,000 SPas or 10,000 SPAs, there's goinmg to be a dumping, like there always is, on every similar coin, after the free distribution or air-drop. He there was one after the distribution of Aurora, wasn't there? Err, wait a minute, just one minute... isn't SPA a copy of Aurora? yes it is. But Icelandics are very few by comparison to 50 million Spaniards so the results of any adoption by the Spanish people would have a much more significant meaning ... and level of success, right? So, granted, Aurora has not been a resounding success so far but, from where everyone is standing right now, wouldn't you just sign for SPA being worth at any time in the near future, roughly 1 Euro per coin? That wouldn't be that bad, would it?over 100 times what SPA is "worth" today...

But lets go to the core of the mendacity: Since the blinding greed is so obvious, the pack of wolves tell the not the not-the-sharpest-knife-in-the-kitchen dev that he must stick to the original plan because it would add "credibility" to the coin. But, as the dev has stated many times, when he devised that original, initial distribution plan the coin have been expected to reach some decent value, some VERY decent value, actually. Obviously not the value previous to the dump, but a "significant value". How significant -we pressed him to clarify? well, anything "between 10 and 50 euros" (his words verbatim). Something "worth the while" for the Spaniards to try it and hopefully adopt it as their "money of the people". So the "credibility", the "stick to the original idea/plan" actually means to give the people, like I had pointed out in a post above, something between 5,000 and 10,000 SPAs. Now the dev pretends 1,000 to 2,000 maybe will fit the bill even if those ridiculous amounts won't come remotely close to the minimal value of 10 euros, let alone 50.

Fallacy, mendacity... plain stupidity. No wonder the media in Spain will not touch this joke perpetrated by a very, very stupid, nameless dev from Valladolid. Even though the pesetacoin guys have chosen the class act attitude to let the pieces fall where evidently they are bound to fall without any further closeness from them to the obvious stink from this rotten, stupid, stupid attempt to scam money from people. They could easily stick the final fork in the duck, but cleverly choose to remain detached from it, left to its inevitable death.

Hey, but there are the Chinese... in the Spanish traditional vernacular, when you scam somebody, you don't just scam him, you scam him "like a you would a Chinese". Obviously the dev believe that miracle will still happen and he will scam not just the Chinese but the Spaniards also. Tall fucking order if you ask me, because the joke will definitely be on you.

And the pack of wolves, of course.

the best part if the Data is faked and they hold less coins or equal amounts to those outside of China then we shouldn't expect an over whleming rush of coins leaving their market for ours. 

The API used by chart sites to extract the data from the exchanges requires that the entire detailed order book be returned every few seconds or so to every API client.

That API was designed by chart sites assuming that order books would contain only a couple thousand entries at most.  But robots and lack of trading fees generate LOTS of small orders on the Chinese exchange books.  Understandably, the largest exchanges truncate the book after a few thousand entries, which may cover only a narrow range of prices around the spread.

Chart sites should indicate the truncation with "..." or something.  Since they don't, their unwary clients keep assuming that what they see on the chart is the entire order book.

The chart-reporting API should be redesigned to return the order book SUMMARY in log scale (namely, total orders up to to 5, 10, 50, 100, ... USD above and below the spread; or, conversely, what the final price would be if one sold/bought 5, 10 50, 100, ... BTC or USD in one go.  But even that may be too expensive for the Chinese sites to compute and deliver in real time.

it is not "AFTER" yet, much more suffering ahead.

Why don't you try giving your suggestions rather than blindly pointing out obvious problems with new coins?
I more or less agree with you, but this is not the thread to address those concerns, especially since this coin was neither massively pre-mined/instamined nor it had an IPO, nor does it use chained algos which bloat the blockchain like for example darkcoin and its clones.

lol who cares these shit country coins are just pooring out now...waste of time....

noobs

pick a good coin that has a chance of success - mine and support that.

getting in early for some riches on these new crap coins is over they hit exchanges a die instantly.


waste of time and electricity.

Mining pushes transactions so it has a lot to do with the usage of a coin, if there is no incentive for mining transactions will be stuck forever, not to mention the initial coin generation. You want value from a 3 week old coin? How valuable was btc/ltc when it was 3 weeks old? Or you prefer coins to be premined and IPO'ed?

how do you determine the value of a coin?

centralization of mining due to huge pooling or asic development are quite troubles for bitcoin atm..
what kind of stuff impact the value what means "ease to use"?

it got secretly premined and was plain stupid. with its 4 second blocks
Also not a bad idea. a freicoin based system would go well

i didnt say its all about the algorithm but flattening GPU/CPU performance is quite a big deal
on the other hand i could say by your reasons LTC should be worthless..

The reasons why people consider their volume suspect are

(1) After the December decree, BTC-China chose to use some sort of voucher system for deposits and withdrawals, whereas Huobi and (later) OKCoin managed to work with bank transfers. As a result, BTC-China's volume fell to nearly zero,  while the volume at Huobi and OKCoin kept growing to about the level that BTC-China used to have before the decree;

(2) Bobby Lee, the CEO of BTC-China, is a Westernized Chinese and an old member of the bitcoiner gang; whereas the CEOs of Huobi and OKCoin are unknown Mainland Chinese guys, who don't even speak decent English and show absolutely no respect for the Great Leaders of the Western Bitcoin World.  

(3) Western bitcoin startups would hardly find investors and customers if they admitted that, since last October, the price of BTC has been entirely determined by a bunch of short-term speculators in Mainland China who, by and large, do not understand the technical aspects and do not care for its long-term potential for internet commerce etc.

An alternative to the claim "their volume is mostly fake" is "most of their traders are Westerners". Westerners who, for some mysterious reason, do not trade between 3:00 am and 6:00 am China time, trade much less during the Chinese holidays, and react only to Chinese media news.

what was the deal about LTC then?

A pure copycat coins, to match the clothing is their marketing is very successful, over NXT but will be surpassed, in this not to be cleaned out, certainly also weakened, lovely dogs can live how long? The reason is not good because the only copycat, and no innovation technology. Now in the BTC fell circumstances, cute dog coin can only follow grandpa to the end.

I have no AUR or ISR but just a bit of some others ( very small amounts and not big hopes for them at the moment but can't hurt)
I have also some other alt's -small amounts of quite a few. Some will die and some might thrive. I have plenty of patience.

Maybe it will end up badly and maybe not,  same was said for bitcoin ( and still is) by many people.
Some may be scams and some not. All I say is not to judge so early. 
No "national coin" will replace the local currency as bitcoin won't. But to survive along side?  maybe.

Muslims do that? This is the first time that I am hearing it.

This is what you get after joining the EU?

Noobs be high as fuck reading the whole wikipedia entry on dinosaurs wondering how it relates to trading patterns.