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My personal take is I bought into SHIELD at roughly 4000. I sold at 17900.
It went on to take the #1 Volume spot on Bittrex and topped 50000 in price.
It was a total crap coin- dev went MIA, and it's still trading at roughly 14000.
A crap coin with no dev is still at 14000, and there are FAR more than 5 million coins.
- NOW
Here we are presented with a coin that has some rather unique features - of which I don't think you will find in another alt - at least not currently on an exchange.
1.) Active Dev. Not only active, but responsive. I've exchanged emails - he responds quickly. He was up at 5 AM in the morning during the POW to POS transition to make sure it went smoothly.
2.) POW was way faster than planned. Why? So many miners - it increased the block time - due to network hash rate. So the DEV got sidelined a bit - basically he wasnt expecting it to finish so soon - but he still managed a smooth transition.
3.) Hes been open and honest that POW was much faster - and received far greater attention than anticipated. He's outlined a plan, and has been forthcoming that a professional business plan is in development and will be posted soon.
4.) APEX has received major press as of late. Today it is front and center on the ALTCOIN HERALD - The title - The Last AltCoin You'll Ever Need.
5.) 10% POS is highly attractive to investors to stake and not dump.
Give this one time. I honestly believe we have here one of those rare opportunities where the currency has not yet exploded but is on the brink of the tipping point. Why hasnt it tipped?
Because people are hyper focused on URO, SYNC, BTCD. But as we all know - alts go through "fads" and cycles. Name a coin that hasnt risen and fallen.
That said - just get your hands on some and stake them. Then wait. BTCD, URO, SYNC, they will ALL run their course. And investors will sell and look for the next big coin.
I believe Apex stands a very solid chance of receiving that attention, which is why I stand by my original comment that I dont see a price point of 100k and far beyond as far fetched.
Do the math, a 100k price point at 5 Million coins is still a small market cap compared to other coins. It could go much higher. Look at what other coins have done - with FAR less.
Best,
Strato
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5 million coins after POW. How many in total with POS?
POS Interest is paid only on staked coins "in" wallet - so theres really no way to tell. But it's perpetual. Coins in exchanges or not staked (held for 24 hrs minimum to mature) do not earn POS Coins. So if 2 Million Supply on average are staked. Then 200,000 per year? Not a lot - thats only like 18,000 a month. Small supply. Best, Strato |
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Looking to buy singles or lots.
Payment of 165 USD per card and I pay shipping. Card must be in working order and hash at speed.
I can pay via paypal or BTC.
Strato
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Thank you for the article, looks great! Great write up - you're on the front page of the ALT COIN HERALD! FRONT AND CENTER! Strato |
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congrats on the smooth transition.
pos blocks are being found!
HERE WE GO !!!
Gotta hand it to DEV, smooth roll out, smooth POW, smooth transition. Low coin supply of 5 Million. High POS Interest. Got all I could. Holding Long. Strato |
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Wow difficulty has jumped. Nearly impossible to mine.
Cryptocharts show nearly no sell orders. Buy support is like 3 to 1.
Get ready!
Strato
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We will not allow, nor tollerate these types of events to occur. We should have never listed this coin. We are doing right by our customers. We are implementing new security and review measures for all currencies. We will be reviewing all currencies to ensure this does not happen again. We apologize and hope you will continue to trade with us because we value you - our customers.
Again, I love Bittex, and I do most of my trading there. This is very unfortunate that this happened, for us and them.
But I think what I wrote in bold above is what everyone wants and needs to hear - whether or not they were invested in SPATA or not.
If not, I think Bittrex will lose an enormous amount of trust by it's users. Which would be unfortunate.
Strato
If anyone wants to have a further discussion on security, I'm more than happy to do it on IRC... You can always find us in freenode at #bittrex. That said, I do want to address Strato because your post was extremely thoughtful, and I agree with you 100%. However, I don't think you understand the technical complexities of what you are describing. 1) It is not practical to review all source code looking for premines or other malicious activity. Pen test companies take months to review this many lines of code. Additionally, this would make us liable if we missed something. This is not a position Bittrex wants to be in. We are an escrow company. We make sure that you get x coin for y coin. 2) The service we provide for our fee is this safe transaction. We protect you from people running off with your coin without receiving theirs. We do not charge a fee to make sure everything we list is safe. 3) It is impossible to programmatically protect against source code. Adding balance checks here wouldn't have saved everyone. It might have stopped one or two transactions from going through, but it's not complete. Additionally, once we have that in, there are other things developers can do to hide coins. It becomes a cat and mouse game. There was almost 3 days of source access and 10+ pools running the code. There was ample time for multiple people to catch this activity. It is unfortunate that it slipped by everyone. With all that said, we postmortem every event like this to try to provide holistic security controls to protect our customers and ourselves from these situations. Thanks, richie@bittrex Richie, I appreciate you responding - and for providing detailed insight on why what I had suggested is simply impractical. Forgive me, as I have a very limited background in actual coding - and I tried in my post to be as unbiased as possible, because I meant what I said, in that I really like using the Bittrex platform. I tweet about my trades, hashtagging your platform regularly. I just want to make sure nothing of what I said came off as suggestive in a negative way. I think in the end this is a good lesson for all of us. Altcoins are not stocks. Buying them, trading them, mining them - we accept certain risks. Moving forward we need to be careful what we mine. What we decide to invest in, and promote on the threads and twitter. We need to be more responsible as a community. I understand what Richie is saying. It's simply not practical to review every line of code for every new coin that emerges in the marketplace. Perhaps impractical is even the wrong word - it's very likely impossible. That said lets move on. Let this thread die. Lets move the ball forward. Thanks again Richie for the response. Best, Strato |
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I don't blame you Richie keep fucking them every chance you get. Lets see how long you last.
I personally do not see this being bittrex's fault here, yes a review process should have been done, but you pay them a fee in order to trade, keep your portfolio safe and to allow them to pay for the bandwidth and servers. They only add coins that the community wants, if this coin has been vetted before anyone had started mining it then this would not be a problem, but again YOU SHOULD VET THE CODE BEFORE YOU INVEST A SINGLE SATOSHI OR YOUR ELECTRICITY period.
And tomorrow - I'll IPO my new company from my Mom's basement Apartment - Optimum Enterprises - and list it - and sell shares.
Oversight is part of the an exchanges JOB. It's the REASON I can't do what I've just noted above. |
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Well honestly, Bittrex should seriously consider making right to their customers for this - at the very least for the people who purchased through Bittrex - and STILL had their coins in the exchange.
Refund them out at the value at the time at which the scam was exposed.
There should have only been 1 million coins. The TOTAL supply was 1.5 million after POW - but its only 3/5 of the way complete.
So the fact that they allowed a coin that had a 1.5 million market cap - at which time should have only had 1 million in circulation - to have MORE than 1.5 million in their exchange - I'm sorry I love Bittrex but that is a big oversight on their part.
They are a financial exchange - pure and simple. They should have safe guards in place to prevent these things from happening.
I am also a bit surprised that they don't have some sort of review process when they list a currency. At the very least they take information - how many coins, POW length, Time, Block Size, Total Circulation - and then they do a quick scan of the source file to make sure 1+1 = 2.
If Bittrex is to continue to be a leader in this ever growing, highly competative CryptoWorld, they need to ask themselves what kind of company they plan to be.
If they allow these things to happen someone or group will open an exchange that offers these safe guards, and no doubt they will lose the market share they have worked so hard to obtain.
I think they should ask themselves that question right now.
Strato
Bittrex didn't allow shit to happen. They aren't obligated to review every single line of code (which if you know anything about computer science is literally what needs to be done to prevent these scenarios). I can't gauge how big of an oversight this was (it looks fairly obvious though) so I am not in the position to blame them but the exchanges aren't responsible IMO. In that case, go ahead and blame bitcointalk, the pools, and every other service for enabling you to access the coin. I am not "blaming" Bittrex. I am simply saying that we pay a fee to bittrex when we trade - which we should. But part of their job, for that fee, should be at the very least offering some degree of protection - such as source code review. Or perhaps knowing that somethings not right when a coin that only has 1 million in total circulation at the moment - has more than 1.5 million coins in the exchange. Like if WALLET > X NUMBER = BIG PROBLEM. If they don't do this, another exchange will open that will. Am I alone here in saying that we, as a community, want exchanges that provide oversight, and don't list any and all coins - some of which are likely total scams - literally devices created to steal money right out of the hands of the exchanges customers? Not assigning blame at all. This is an evolving world (cryptos). We are all learning - even the exchanges. It will continue to change. Bittrex has the chance here to step up and tell everyone loud and clear: We will not allow, nor tollerate these types of events to occur. We should have never listed this coin. We are doing right by our customers. We are implementing new security and review measures for all currencies. We will be reviewing all currencies to ensure this does not happen again. We apologize and hope you will continue to trade with us because we value you - our customers. Again, I love Bittex, and I do most of my trading there. This is very unfortunate that this happened, for us and them. But I think what I wrote in bold above is what everyone wants and needs to hear - whether or not they were invested in SPATA or not. If not, I think Bittrex will lose an enormous amount of trust by it's users. Which would be unfortunate. Strato |
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They were likely in on the scam with the dev. How else could they be so incompetent. Why else wouldn't they cover the lose.
Because they cant afford refunding everyone? and i dont see how its their fault I'd have to agree here. I highly doubt intentional foul play took place. But I do think perhaps that Bittrex may need to stop and consider the impact these events have- not only on the individual investors who lose their money when this happens, but how this in every way shape and form harms and shames the crypto community. Scams are not what 99% of us here are for. Bittrex is an exchange. A hub. A central point for the crypto community. It is where we come together to buy and sell the currencies we believe in (or dont). They charge a fee for this service, as they should. But for that fee I truly believe part of their job is to protect us from just this type of event. They shouldn't allow coins like this to be listed. Source Files should be reviewed. There should be safe guards. If they don't do this, someone else will, and the community will move there. Pure and simple. Strato |
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Well honestly, Bittrex should seriously consider making right to their customers for this - at the very least for the people who purchased through Bittrex - and STILL had their coins in the exchange.
Refund them out at the value at the time at which the scam was exposed.
There should have only been 1 million coins. The TOTAL supply was 1.5 million after POW - but its only 3/5 of the way complete.
So the fact that they allowed a coin that had a 1.5 million market cap - at which time should have only had 1 million in circulation - to have MORE than 1.5 million in their exchange - I'm sorry I love Bittrex but that is a big oversight on their part.
They are a financial exchange - pure and simple. They should have safe guards in place to prevent these things from happening.
I am also a bit surprised that they don't have some sort of review process when they list a currency. At the very least they take information - how many coins, POW length, Time, Block Size, Total Circulation - and then they do a quick scan of the source file to make sure 1+1 = 2.
If Bittrex is to continue to be a leader in this ever growing, highly competative CryptoWorld, they need to ask themselves what kind of company they plan to be.
If they allow these things to happen someone or group will open an exchange that offers these safe guards, and no doubt they will lose the market share they have worked so hard to obtain.
I think they should ask themselves that question right now.
Strato
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What if you mined and transfered in?
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Dev is likely reading this laughing his ass off.
I wonder if he realizes that it's now been proven a VPN won't keep you safe.
Unfortunately I doubt anyone would want to go to his village, knock on his tin roof house and beat him up...
Anyways...
Strato
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If bittrex is refunding I give them major props. Honestly the market is so small it's nothing to them, but some new crypto investors might have been wiped out on that.
Kudos to Bittrex. I'm just wondering how a coin with only 1.5 Million supply had more than 1.5 million on the exchange. You'd think there would be safeguards in their system for that, or that they would only list coins that have had source files scanned.
I wouldnt be suprised if they start doing that moving forward, and are far more selective with coins they add. Honestly that would be good for them and for the community. Get the scammers out of here.
Strato
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Typically when this happens Bittrex shuts it down, or posts a message. If this is for real, are they planning on addressing it with a banner message?
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I havent tried transfering, but the wallet seems fine.
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It's not disabled.
Not saying this couldn't be a possibility... but it seems odd. Double coins? In the posted source? By a coin that was on all the major pools?
And just now being noticed?
Well if its true then wow.
If its not true, VERY successful play in terms of lowering the value and picking up way cheap coins.
Can anyone else confirm this? Again, at least on my browser - RIGHT NOW - it is NOT disabled.
Strato
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Proof of Work ends tomorrow.
Going to get very interesting moving forward. And likely very pricey from here forward.
Strato
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