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The collective IQ of the crypto community as well as its developers is teetering near 0.
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Payu probably ignores the gamblers and kids on this and other forums because a high price was never necessary for MZC to succeed. The distribution is only intended to spread Maza among Lakotas in the hopes that if enough people own it, it will gain traction as a currency among holders. Putting Maza into terms of USD and suggesting that the intention here was for Lakotas to cash in their 'airdrop' as a one time donation is asinine. People suggesting that a one time USD donation was the purpose of this coin are either tricksters or very confused.
Long term. No one needs to profit a single USD for Maza to succeed. It functions as an accurate unit of measure whatever its USD conversion is. If anything, a low price and other national options will hopefully scare off gamblers and profiteers abroad, leaving Lakotas much more opportunity to dominate the ownership and mining of their own coin.
While that is true, in order for it to gain status as a sole currency replacement, it will have to garner a greater sense of market stability. I think that's what payu is struggling on convincing the tribal counsil of...the current and future market stability and purchasing power of this crypto currency. Or else what's the point of there even being a hard cap on coins? Might as well just have it print to infinity like the u.s. dollar. Obviously the devs do care about the secondary market value of this coin or they would not have set their goals and coin specs accordingly. Both the people of the lakota nation, as well as the businesses accepting this currency will want the greatest valuation possible. Now long term, they might get that. Who knows. But as it stands now, there are just way too many coins in circulation and more being minted daily. Hell, the makers of spaincoin are about to fork the coin and convert it to n-algo to simply stop the bleeding that's been caused by multipools and dumpers. I'm not saying that's the solution here...but there are many things that can be considered if they want to start to take steps to regain investor confidence. Or perhaps they don't... Surely they'd want valuation, nothing wrong with being rich internationally, but its not at all necessary for the success of the coin as a currency for Lakotas. Their only risk is having the inflation and supply dominated externally - whales abroad would have the power to manipulate supply and the price of goods within the reserve. They don't need investors. "Investor", unless they're local, means coins being owned outside the reserve. Its counter-intuitive. Its actually better for the coin if we all lose interest - the only people left to pick up the torches would be those with an actual reason to own the coin beyond speculation (Lakotas). . . If Maza reaches a high price its unlikely that would happen because of Lakota investors. High price means the coin is dominated outside the reserve; high price could very well doom MZC to failure. And the problem with USD isn't the inflation itself but the fact that tyrants control the flow and distribution. There is NO free market, the currency is controlled completely. This is not true in cryptos (the good ones) - they have predictable inflation that is randomly distributed. Its a fair system where no one gets to run things. Decentralized vs Centralized > that's the advantage. You're forgetting about the chain of supply. Unless the lakota people start themselves manufacturing and producing everything they own and consume, then they eventually have to purchase items outside the reserve with good ol', hard cash. So yes, the market value is the primary driving force behind the success of this coin. The merchants will still have to convert the maza to btc and 'cash out' when they need to deal with their suppliers to restock their inventory. They can't just say 'ok here's the deal guys...I have all this maza from my customers...and I'm sure you'll love it.' Yes, in a perfect world the price wouldn't matter...and everyone would be able to live self-contained away from the constraints of fiat currencies and thrive on decentralization. Unfortunately, it's not as simple as 'black and white.' |
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yo morrons ! give me back my Vertcoins !
Probably one of the first things they sold off next to the btc and ltc. |
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LOL looks like the dev will most likely make off with a little over 1 btc in free money. low buy in fee = more people to scam, but less to make.
Hopefully he updates, but I'm not counting on it...and pretty much writing my 17 dollars off at this point.
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Payu probably ignores the gamblers and kids on this and other forums because a high price was never necessary for MZC to succeed. The distribution is only intended to spread Maza among Lakotas in the hopes that if enough people own it, it will gain traction as a currency among holders. Putting Maza into terms of USD and suggesting that the intention here was for Lakotas to cash in their 'airdrop' as a one time donation is asinine. People suggesting that a one time USD donation was the purpose of this coin are either tricksters or very confused.
Long term. No one needs to profit a single USD for Maza to succeed. It functions as an accurate unit of measure whatever its USD conversion is. If anything, a low price and other national options will hopefully scare off gamblers and profiteers abroad, leaving Lakotas much more opportunity to dominate the ownership and mining of their own coin.
While that is true, in order for it to gain status as a sole currency replacement, it will have to garner a greater sense of market stability. I think that's what payu is struggling on convincing the tribal counsil of...the current and future market stability and purchasing power of this crypto currency. Or else what's the point of there even being a hard cap on coins? Might as well just have it print to infinity like the u.s. dollar. Obviously the devs do care about the secondary market value of this coin or they would not have set their goals and coin specs accordingly. Both the people of the lakota nation, as well as the businesses accepting this currency will want the greatest valuation possible. Now long term, they might get that. Who knows. But as it stands now, there are just way too many coins in circulation and more being minted daily. Hell, the makers of spaincoin are about to fork the coin and convert it to n-algo to simply stop the bleeding that's been caused by multipools and dumpers. I'm not saying that's the solution here...but there are many things that can be considered if they want to start to take steps to regain investor confidence. Or perhaps they don't... |
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not buy into any of this but where captain  I thought the role of them was to be the face and support for coin ex, Now if this is the case why are they been so quiet here and no PR work from them? I just find it strange that all Just further to above ya would think as a company/exchange that just had an issue you would have your face out there mixing with the masses to answer questions etc as a PR exercise ... Does any one else find this odd ? The there been no word from captain in this mess when they were basically the front man for dealing with the public. Because captain could have very well been just a fake persona created by Eru himself. Who really knows...the entire crypto world is ran by a group of faceless individuals behind computer screens. It's created/driven/manipulated by anons. And you wonder why most serious investors on wallstreet say this market is a bubble just waiting to burst... |
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Coinex.pw whois info. Since it looks like we have been duped out of our coins, I suggest everyone start contacting Coinex's hosting service for more intimate details so the search can begin. Even with all the cryptic info given, nobody is truly hidden on the internet and these guys can and will be found. The hosting service is responsible to "Know your customer", so there is a trail to follow. Reports to various fraud investigation agencies will also start the ball rolling. Hosting services will not honor privacy policies if their service has been used to commit a crime, which is basically what we're looking at here.
Domain ID:CNIC-DO1373171
Domain Name:COINEX.PW
Created On:2013-07-22T13:16:23.0Z
Last Updated On:2014-03-14T12:08:31.0Z
Expiration Date:2014-07-22T23:59:59.0Z
Status:clientTransferProhibited
Status:serverTransferProhibited
Registrant ID:H280468
Registrant Name:Domain Admin
Registrant Organization:PrivacyProtect.org
Registrant Street1:ID#10760, PO Box 16
Registrant Street2:Note - All Postal Mails Rejected, visit Privacyprotect.org
Registrant City:Nobby Beach
Registrant Postal Code:QLD 4218
Registrant Country:AU
Registrant Phone:+45.36946676
Registrant Email:
Admin ID:H280468
Admin Name:Domain Admin
Admin Organization:PrivacyProtect.org
Admin Street1:ID#10760, PO Box 16
Admin Street2:Note - All Postal Mails Rejected, visit Privacyprotect.org
Admin City:Nobby Beach
Admin Postal Code:QLD 4218
Admin Country:AU
Admin Phone:+45.36946676
Admin Email:
Tech ID:H280468
Tech Name:Domain Admin
Tech Organization:PrivacyProtect.org
Tech Street1:ID#10760, PO Box 16
Tech Street2:Note - All Postal Mails Rejected, visit Privacyprotect.org
Tech City:Nobby Beach
Tech Postal Code:QLD 4218
Tech Country:AU
Tech Phone:+45.36946676
Tech Email:
Billing ID:H280468
Billing Name:Domain Admin
Billing Organization:PrivacyProtect.org
Billing Street1:ID#10760, PO Box 16
Billing Street2:Note - All Postal Mails Rejected, visit Privacyprotect.org
Billing City:Nobby Beach
Billing Postal Code:QLD 4218
Billing Country:AU
Billing Phone:+45.36946676
Billing Email:
Sponsoring Registrar ID:H2834038
Sponsoring Registrar IANA ID:1111
Sponsoring Registrar Organization:DomainContext Inc.
Sponsoring Registrar Street1:501 Silverside Road
Sponsoring Registrar Street2:Suite 105
Sponsoring Registrar City:Wilmington
Sponsoring Registrar State/Province:DE
Sponsoring Registrar Postal Code:19809
Sponsoring Registrar Country:US
Sponsoring Registrar Phone:+13.024427322
Sponsoring Registrar Fax:+13.024427337
Sponsoring Registrar Website:http://www.domaincontext.com
Name Server:SUE.NS.CLOUDFLARE.COM
Name Server:ART.NS.CLOUDFLARE.COM
DNSSEC:Unsigned
I know a few people on 4chan that can get ahold of vital info and doxxing. I'll give erun and his cronies til the end of this weekend to give a REAL update (not some damn 'our investigation needs more time') and some real evidence before I start elevating the hunt. |
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I'm American, but I'll be launching Francecoin and Uzbekistancoin next week. Thailandcoin soon to follow.
Just thought I'd give you guys a headsup.
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Take your time buddy.
Some of us are adults and are just happy you and your guys are working towards a resolution.
+1 +1 +1 lol always the 0 posts newbie to re-bump. Enough with the shill accounts, erundook. Just let the rest of us withdraw our damn coins that weren't stolen that belong to us...this is really pissing me off! |
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I'll personally contribute a bounty to have his head on a stick, as I'm sure many others will. So if he was indeed behind the stealing of the coins and there was really no 'hacker' involved, then I hope he's booking his flight to the bahamas now and getting facial reconstructive surgery.
I don't like this one bit. People saying 'have faith, it's happened before and everything turned out well' are either naive beyond belief or will just believe anything fed to them. Fact of the matter is, they have given barely any info following this fiasco, and have provided absolutely ZERO evidence til now. Hell, they haven't even answered which damn coins were stolen, if in fact they all were.
Seems like they just saw how the entire mt. gox fiasco played out...realized they weren't under the same legal jurisdiction as mt. gox, and figured they'd handle the situation just like gox and make up a bs story while putting up a 'maintenance' splash page. Ain't that ironic?
But trust...even if they were planning on getting away with it, karma has its way of rearing its ugly self. It may not be tomorrow...or even next month...but eventually the real 'thieves' will cross paths with the wrong people. And it won't be pretty.
Now where the hell is the EVIDENCE here...from this b.s. investigation?!?!?
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I think you can only use the 'market manipulators' argument for so long. Because the same ones who scream 'market manipulators crushed the coin' are the same ones quick to offer praise when those same people pump the coin to unrealistic prices.
I think the bots actually have kept the price from dropping even quicker than they already have, as most are just hedging their losses while trying to bait people to buy in while the supply keeps growing. There is simply too much supply, not enough demand...and too many people having unrealistic expectations for value after these national coins are pumped 500-1000% in a day. For that reason, I think all these national coins are going to face tough roads from here on out....especially as everyone comes out with their own national coin and the market becomes way too oversaturated. It's borderline ridiculous (well, the entire alt game is getting more ridiculous by the minute). As the public will just view them as a 'one night freak,' just like a slutty female.
'Hit it, and quit it,' so to speak.
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Enough about the mafia wankers, what's going on with this coin? Haven't heard any news in awhile.
Hi guize. I'm a whale. If you dnt blve me i hav prof, i hav a twitr pg n my usr nam is mazawhale69, so u kno its legt. Im pmping maza to 723.00 a cion @ 9:30 pm so be reddy! Were gong to teh moon! :^) Well played, sir. Well played.  I'm done with 'national coins' for awhile. Seems like they're heading towards 'initial pump and dump forever' territory, as they're becoming a dime a dozen. It's really, really hard to regain investor confidence in coins that have gone from the sky to flatlining, all in the matter of a few hours...and continue to drop hard for weeks. It's psychologically devastating, and people don't want to dip their foot in the pool for fear it will be ice cold. Be it manipulation, lack of interest, excessive supply, or a combination of them all...it's just not looking good for these national coins. I want to believe maza will be the first to follow through with its promises, so I'll keep supporting from the sidelines. But I just can't lose all my btc in this stuff, especially when there are a lot of other quick flip opportunities. I really hope one day this stuff is worth $1 a coin...not for investors, but for the poor people of the tribe that really need it. |
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What absolute fail. I didn't learn from Maza and tried investing 1btc in this crap 2 days ago when it hit 67000, thinking perhaps I'd scored a bargain and it had bottomed out.
Turns out I had to flip it today at 45000 and my 1btc turned into 0.7btc. THANK GOD I SOLD IT TODAY WHEN IT WAS 45000, AS IT'S NEARLY LOST HALF THE VALUE SINCE THEN LOLOLOL.
These country coins are dead, IMO. The public has caught on, and now they're just a dime a dozen 'pump the first day and flatline' coins. Nobody wants these after the initial pumps once they hit coinmarketcap. And if anyone think aurora 'rebounding' from 10 dollars to 20 dollars a few weeks after the initial rise to 100 is something to hold your hopes on for Spain, then you have really really low expectations.
Add to the fact a shitload of new coins are mined, and there simply is not enough market interest to possibly keep the prices at current levels, or even close. This stuff will probably bottom out at 5,000 or less.
I've definitely learned my lesson. Get in early once the coin is first released...flip for profit on initial pump...and gtfo. It's not rocket science.
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calm down. ive been through the loop with coinex in these situations more times than one. if they say everything will be fine, it will be. if they say they will be online soon.. they will be. if they said you havent lost a penny because ur covered.. that's the way it is.
btw bitcoin based insurance is a brilliant idea.. hope you guys can achieve that deal. its what mtgox shouldve done. but if u guys achieve this it will really be a big win not only for bitcoin but for your exchange. Best Wishes to Coinex team.
and cut your wife a deal.. since she is ready to punish you for losing, she should reward you for everything being alright ;p
Well if this is the case, then can you please answer my previous question? How long did it take to get your stolen account balances refunded from them in the previous fiascos? I think some kind of ETA might help to put my mind at ease a bit...but 8 word twitter updates every few days form coinex directly isn't exactly helping ATM. |
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Well, I appreciate the update. But that does little to console, as my hundreds of VTC's have now vanished, and right during the midst of a price surge after sitting stagnant for weeks.
Ha. Oh effin' well.
Do we have any tentative ETA on when we can possibly expect to get our coins back? Or does anyone from the last 'hacking' fiasco remember how long it took to get their stuff back?
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I think the only thing investors can do now is just sit back and pray that payu eventually gets that little piece of documentation along with a picture stating he has the council's full backing to implement it. Until then, expect a lot of dips and sideways action for as long as it takes. I'm currently completely out of maza and have been trading other coins in the meanwhile, as it has seemed to stabilize within the 4-500 region and is very difficult to arbitrage right now.
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I'm going to stop posting and hold my feelings until a COMPLETE report with proof and stats is posted. Posting a 'in short,...' or 'basically what happened was' message on bitcointalk will not suffice. That's a joke. Back your 'investigating the issue' hacking claims with real stats and blockchain evidence.
And I do hope they make good on refunding their customers in due time, as other users seem to indicate they will. That may be a pipe dream at this point, but regardless of what 'really happened,' it's the right thing to do.
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I hope to god thats not true but if it is we cant take any legal action. At least mtgox was a registered company.
According to previous posts, they already have the location and real name of the site owner. I'm sure there will be several people that might be interested in taking up a bounty to locate him within the Russian region. I shall await for some PROOF to back your hack claims in the next few days. Else, I think it's safe to assume our worst fears are confirmed and we held our trust with CONMEN the entire time. Just amazing how much butt-kissing is going on in this thread and they haven't even provided proof of the hack. But most of them look like new troll accounts created by Coinex themselves trying to do damage control. Then again, the crypto community doesn't surprise me, they fall for IPO scams every day and never learn. |
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...if CoinEX wants to be a business it needs to learn some business skills. EVERYONE should have had an email in their inbox the moment a security issue was noticed which required the site to be offline, not a friggin tweet. Then follow-ups should have happened regularly, with expectations set in the previous msg's. If not you lose customers, plain and simple.
edit: not to mention losing credibility and allowing FUD to run wild.
This is what I'm saying. WHY THE HELL WAS THERE NOT SO MUCH AS EVEN AN EMAIL SENT TO USERS?!?!?! Wow. I had a lot of various coins just stored on your site that I didn't think of touching due to trusting you all. Now all the sudden I have to find all this out by trying to log into your site and following a twitter link? Again, if you guys make good on refunding all the stolen coins that are due to their customers, I will support you going forward. But if you're just going to pack up and leave and let people bleed out their ass, then the hell with you all...you're as bad as the supposed 'hackers,' if they even existed. Would like to see some blockchain proof of these hacks as well. The burden of proof is all on YOU guys, not us customers. You are the ones running the business, and we're the ones paying you to use it. I agree emails need to be sent out. I own a small pool with only 10-15 user and I email them where ever In feel its important. Like when I saw this I knew some of them used coinex as a ctm wallet so I email all my users and told them about it After reading some of the previous posts in here and getting caught up, I think this was deliberately done. This was an inside job by one or more of the coinex operators. Again, things just aren't adding up, but unlike mt. gox, there currently isn't a formal deposition so they aren't having to present their facts to support their claim of a hack. But they better provide it soon, because customers won't just accept some wild random claim about their stolen funds without something to back it up. And street justice does come with a price. Banks can't just pack up and leave and say 'sorry, someone robbed us at gunpoint..your money is gone' without factual documentation and records that matches up. This is just unreal and unbelievably unprofessional. I don't care if I lost 8 dollars or 800 on this shit pile exchange...the fact remains it was handled in the worst way possible. The 'events' are mimicking mt. gox exactly. |
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...if CoinEX wants to be a business it needs to learn some business skills. EVERYONE should have had an email in their inbox the moment a security issue was noticed which required the site to be offline, not a friggin tweet. Then follow-ups should have happened regularly, with expectations set in the previous msg's. If not you lose customers, plain and simple.
edit: not to mention losing credibility and allowing FUD to run wild.
This is what I'm saying. WHY THE HELL WAS THERE NOT SO MUCH AS EVEN AN EMAIL SENT TO USERS?!?!?! Wow. I had a lot of various coins just stored on your site that I didn't think of touching due to trusting you all. Now all the sudden I have to find all this out by trying to log into your site and following a twitter link? Again, if you guys make good on refunding all the stolen coins that are due to their customers, I will support you going forward. But if you're just going to pack up and leave and let people bleed out their ass, then the hell with you all...you're as bad as the supposed 'hackers,' if they even existed. Would like to see some blockchain proof of these hacks as well. The burden of proof is all on YOU guys, not us customers. You are the ones running the business, and we're the ones paying you to use it. |
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