I originally posted in the NEM thread but did not send my bitcoin until after the close for stakeholder registration. I would like to be considered as a NEW stakeholder if possible.
Thanks

Is NEM prepared to consider compensation for the VisaCoin victims? NEX is including them now.

Compensating the VisaCoin victims is one thing!

Catching VisaCoin is another!!

The hunt is on!!

Now we can offer the bounty hunter who locates VisaCoin 135 bitcoin (the stolen 130 plus my 5).

Can somebody post my original announcement in the Chinese forum?

VisaCoin, know that we will not rest just because others in the community may compensate YOUR victims.

I must congratulate FrictionlessCoin on this proposal to use part of the NEX genesis block distribution to compensate the VisaCoin victims!!

I would say that the other side of the 'coin' for GetVisaCoin is sending a message of deterrence to future scammers, so my hunt for VisaCoin will continue.

This proposal does not alter my plan to offer the stolen bitcoins as a bounty (plus my 5 bitcoins) to an honest hacker in China to catch VisaCoin, but maybe I'm out of the NXT cloning business now.

If the VisaCoin victims are compensated elsewhere, then maybe the bounty hunter looking for VisaCoin can have the full 130 bitcoins, plus my 5.

Hopefully other NXT clone developers will consider offering something similar (I'm not going to discourage a bidding war either!).

Thanks again FrictionlessCoin!

I must congratulate FrictionlessCoin on this proposal to use part of the NEX genesis block distribution to compensate the VisaCoin victims!!

I would say that the other side of the 'coin' for GetVisaCoin is sending a message of deterrence to future scammers, so my hunt for VisaCoin will continue.

This proposal does not alter my plan to offer the stolen bitcoins as a bounty (plus my 5 bitcoins) to an honest hacker in China to catch VisaCoin, but maybe I'm out of the NXT cloning business now.

If the VisaCoin victims are compensated elsewhere, then maybe the bounty hunter looking for VisaCoin can have the full 130 bitcoins, plus my 5.

Hopefully other NXT clone developers will consider offering something similar (I'm not going to discourage a bidding war either!).

Thanks again FrictionlessCoin!

Thank you so much for expressing your support!! It is a worthwhile effort, and I believe in the power of community action. We can still be fair and reasonable with VisaCoin, but we should try and catch those who cross over the line of acceptable behaviour in our community.

I need help getting this thread translated and posted in the Chinese thread. Can a Chinese speaker help me?

Excellent! I'm assuming you read the GetVisaCoin announcement and understand both sides of this coin.

1- Offer half the stolen VisaCoin funds to a bounty hunter to catch VisaCoin
2- Use the other half of the recovered VisaCoin funds to develop a new coin

The new coin will be called NEX, and GetVisaCoin is no more.

-First step is encouraging honest hackers in China to catch VisaCoin!
-Then create the NEX genesis account from the VisaCoin victims AND the new people.
-Then start NEX

Thank you EvilDave!

I am genuine, and I say to FrictionlessCoin, you always have the option to merge GetVisaCoin in with NEX, and take it over. You can call it NEX and we drop GetVisaCoin all together.

I am not a developer, so it makes sense for NEX to incorporate the goals of GetVisaCoin rather than the other way around.

If you are serious about NEX, then please consider merging with GetVisaCoin.

Hmmm, My serious GetVisaCoin announcement generates 3 pages in a week.

NEX announcement generates 6 pages after a couple of hours.

I need to do some work on my presentation


My GetVisaCoin proposal included an option to ADD new people to the genesis block, so it is basically the NEX proposal with the scam deterrent, and compensation for the VisaCoin victims.

GetVisaCoin is better than NEX.

We have the option to ADD new people to the GetVisaCoin genesis block for free, but I think it's better to prevent sock puppet mining, so I vote for a modest payment to a trusted third party - as little as 0.001 bitcoins.

Every aspect of GetVisaCoin is open to change. Nothing is set.

If you are going to support a clone of NXT you should support GetVisaCoin.

Support your own communty!

https://bitcointalk.org/index.php?topic=409696.0


edit: And I have donated 5 bitcoins of my own funds to the cause of GetVisaCoin.

I did not invest in VisaCoin. I did invest in NXT and I made a lot of money.

You said NXT was a scam (Yawn!). You were wrong. https://bitcointalk.org/index.php?topic=313082.msg3358378#msg3358378

If you always say scam sometimes you will be correct, and sometimes you will look like foolish, just like the VisaCoin victims

The landscape is confusing. I'm trying to make things more clear - scam deterrence is a worthwhile endeavor.

I have thought a lot about that issue.

I am trying to organise for a freelance private investigator in china to find a guy. If he finds the guy and persuades him to return the bitcoins to a trusted third party, the private investigator gets paid half of the bitcoins, and VisaCoin goes back to his life.

If someone can show me how that is illegal then I would stop GetVisaCoin immediately. I'm not a suicide bomber.

But I am worried about the growth of scammers now. They can easily destroy the reputation for all crypto currencies, and nobody else is doing anything, so scam deterrence is zero.

Does anybody think it's worth going to the police? Where? China?

This is the situation - massive incentives to scam with no deterrent at all, and little chance of consequences. GetVisaCoin is an attempt to do something.

It's up to the private investigator to decide how best to achieve the objective. I'm not a mirco manager, and I don't like violence at all.

Not sure I follow your chain of thought on that one. Nobody is talking about catching VisaCoin except me (that I know of), so if I stop talking, nobody is talking, but VisaCoin is more likely to return the coins - I don't understand that logic.

He can do it any time without being 'seen'.

The more WE/EVERYONE talk, the greater the pressure, better chance VisaCoin thinks of his situation and returns the bitcoins.

If bitcoins are returned, nobody is looking for VisaCoin any more. No money for a bounty (other than my 5 bitcoins, and I'm not after revenge, so once the bitcoins are returned it's over for me).

There must be pressure sometimes for people to learn how to behave.

VisaCoin wont return anything without pressure.

If we find VisaCoin I am sure he can be 'persuaded' to return the bitcoins. I don't advocate violence, and there are other ways, but it wouldn't be up to me. Whoever claims the bounty will have used a method that they are comfortable with. I wont tell people who find him what to do. If they find him, and he wont co-operate, then they might use some coercion. That seems highly likely. But 70+ bitcoins is a lot of money in China, so getting VisaCoin to co-operate might be hard, but there is an incentive to make it happen.

I would hope the law in china can be used, and maybe VisaCoin can be prosecuted, but I know nothing of chinese legal system. Unfortunately if VisaCoin is found, he may suffer in a way that I can't control.

I hope VisaCoin thinks things over and returns the bitcoin. He knows he is at risk now. If my announcement gets translated and posted in the chinese forum, things will happen.

I totally agree!! I am not a dev, but I would prefer to create something of value, rather than a straight copy/paste of NXT. Someone will do that soon (clone NXT), and if we did it, at least our motives would be accepted as not entirely cynical. But it isn't my preferred option, but I think at the moment it is the most viable.

First catch VisaCoin, so we need to get chinese community involved ASAP. If VisaCoin gets caught it will be a chinese guy that finds him, no doubt about that.

Yes wizzardTim, that's the plan - Justice & Compensation for the victims of VisaCoin.

What do you make of my idea to reboot NXT using the VisaCoin contributions for the genesis block?

Could someone translate my announcement post into Chinese and post it in the Chinese forum? I've had a few nibbles, but if this thing is going to work I will need some help from the Chinese crypto community.

We can catch VisaCoin!

Maintain the Rage!!

GetVisaCoin:: The Cold Steel to NXt's Gold in the POS crypto universe!

I'd love rickyjames to get on board VisaCoin is most likely located in China, so I'm hoping some honest Chinese hackers take up the challenge. 70+ bitcoins is worth a lot anywhere now, but in China that's about 10 years average income, so I think it is a large incentive.

There would be a language hurdle for any non-chinese investigators, but I know what rickyjames did with the epicthomas affair, so I'd love to get his input.

I just want to catch VisaCoin and send a message.

As for how best to compensate the VisaCoin victims, if there was a way to pay them from the original NXT that would be great. I'm not out to upset the NXT apple cart (I love NXT and my 5 bitcoins came from selling some on dgex.com).

The only problem I see with that idea is who in the NXT community has the authority to decide that? If it could be done then I'd be very happy, and we'd have the whole NXT community on the hunt for VisaCoin.

The cloned version of NXT part of my plan isn't the critical bit (but I still think it could work).

I want to catch VisaCoin, send a message to the next scammer, compensate the victims of VisaCoin, and hopefully do something to try and prevent the crypto landscape from being destroyed by dishonest behavior.

Thanks for showing support

The original VisaCoin thread has been locked so I can't post there, and maybe some of the VisaCoin victims have not seen this thread yet.

Maybe I am wasting my time, but I believe decentralised currencies are very important to the world, and sending a message of deterrence to future scammers is worth doing.

Banks are strong because they protect people's money. Visa is strong because it attempts to protect people against scams and theft. Crypto currencies will not grow if ordinary people get robbed.

I have plenty of bitcoin and NXT, so this is not about me. I had an itch and I am scratching it.

I will push this a little more to be sure that some of the VisaCoin victims have heard of my plan. So far only NXT people have responded, and this isn't really about NXT. The cloned/rebooted NXT idea seems obvious to me, but that's just me.

I want to catch VisaCoin and send a message to the next scammer - PEOPLE WILL LOOK FOR YOU!

You should consider supporting GetVisaCoin!!

https://bitcointalk.org/index.php?topic=409696.0

GetVisaCoin - truth is better than fiction!!

https://bitcointalk.org/index.php?topic=409696.0

We've got all the roundhouse kicks you'll ever need, and they're headed straight for VisaCoin, unless he returns his ill-gotten-gains.

There can be only one coin in the spirit of a Texas Ranger, and that coin is GetVisaCoin!!

The recovered money would belong to the victims of VisaCoin, so it would be their decision. My guess is they would prefer to invest in a new coin that could make them a profit rather than lose half their stake to paying the bounty hunter.

Any coin they start is better to be a POS coin (they've already contributed their stake to the genesis block distribution). A cloned POW coin makes no sense, and doesn't cost 70 bitcoins (less than 0.5 bitcoin to get a pre-fab POW coin now), and would not be a success - too much competition with POW now.

A cloned NXT is simpler, and has less competition, and it would make some improvements to the original NXT

If the 70 bitcoins was invested into NXT development how would the VisaCoin victims be compensated? If there is an answer to that question, then maybe that is a better option than a cloned NXT with a better distribution. Otherwise the VisaCoin victims would probably prefer my idea.