I also support this application.  You're helpful, knowledgeable and make quality posts.

Maybe an account farmer woke up some old accounts after having some of their accounts nuked.

Perhaps they are the sockpuppet shills of a new ICO.

I also don't claim to know the exact reasons but the forum has had three major hacks. I think Theymos is concerned about security breaches if too much is delegated to others.

A security breach is potentially very serious. Just think of the potential phishing, inconvenience, data loss and privacy issues it could cause.

Anything crypto is likely to be targeted by hackers. I also don't know what the progress is with the new forum software. It could be just around the corner, years away or shelved.

1) No a 51% attack on a POW coin doesn't require a lot of coins. It requires 51% or more of the mining power. (51% coin holding applies to POS coins) But with aurumcoin there are so few coins in general circulation that even a 250 coin holding puts that person in the top 100 coin wallets. So how did someone deposit 15000 coins (multiple transactions) unless they were a substantial holder.
Only 6400 coins are shared by all the wallets combined outside of the top 100 holders. The wallets of the top 50-75 holders only contain an average of 260 coin each.
It means it is is extremely likely that the attack was committed by a top 50 holder.

2) Aurumcoin has made it clear that they have no intent to communicate about it in their twitter post. Why would they not want to co operate with a coin theft investigation / discussion that occurred on their network ? (reconcile =  resolve differences in financial transactions)



3) The reason for the coinexchange.io volume increase is because until recently the blockchain was dead. No new blocks found. No working block explorer. This meant no one could send coins and no one could check transactions. Coinexchange also had their wallet in maintenance so no one could deposit.. so the same person or persons that already held coins on coinexchange were buying and selling the same coins to themselves to fake the volume and price. As soon as the wallet opened for deposits there were people dumping coins and the price plummeted.



From the market data you can see that when any volume is sold the price plummets. It appears that soon afterwards a "purchase" is made (trader buying their own coins) to give the appearance that the price is higher than it really is.



As soon as real volume is sold on the exchange it sells for far less. But then a quick low volume purchase is made to give the illusion that the price hasn't plummeted.

Deletion  & ban is for incentivised posting. I think if it is a bounty ann thread and it is clear the moderators just shift it (best solution because bounty Ann are allowed) . Other types of altcoin givaways however are not permitted and can result in a temporary ban. ( ive seen even participants of such threads get a temp ban)

I've categorized the list a bit better:

Permaban:
☐ Plagiarism / copy and paste without attribution
☐ Persistent Spam
☐ Ban evasion
☐ Exploiting forum code
☐ Banned multiple times previously - ignored moderator warnings
☐ Other - comment ..............

Deletion / Short term ban:

Content
☐ Advertising / Spam not related to thread
☐ Off topic
☑ Low quality post
☐ NSFW images / No NSFW warning
☐ Duplicate posts
☐ Foreign language on English board
☐ Translation created by automated translation tool

Conduct
☐ Trolling   
☐ Threatening behavior
☐ Begging
☐ Altcoin giveaway (not in bounty thread)
☐ Multiple sales threads for same items
☐ Sale of illegal goods
☐ Consecutive posts in the same thread (by same account or alt accounts)

Bumps
☐ Un-deleted old bump
☐ Too many bumps, "updates" per 24 hours

Links
☐ Referral link
☐ Link to illegal site
☐ Link shortner that requires viewing of advertisement

Other
☐ Other - comment ..............

I know this topic has been discussed before and part of this post includes my suggestion on another thread.

A lot of times people are confused about why they are banned or had a message deleted. It would be good if the offending post  and the reason from the reporter was included in the ban or deletion message.

It will reduce recidivism due to ignorance.

Alternatively a tickbox system could be used where the moderator has found the post.

Here is my previous suggestion - this could be further simplified to make the moderators job streamlined.

Massive instamine is earnings. Miners make up part of the network. Taking the fee is controlled by the aurumcoin code.

The developers of Aurumcoin financially benefited from the creation of Aurumcoin. Are you trying to say it is a not for profit charity ?

Who lied ?

Proof Aurumcoin lied:


Aurumcoin lied and refused to communicate:



They have lied about lots of things and that make them a scam.

They could easily fork to return the funds. Like verge did.

https://news.bitcoin.com/verge-is-forced-to-fork-after-suffering-a-51-attack/

They could easily fork to return the funds like Ethereum did after the DAO attack.

They could easily fork to return the funds like smartcash did after their zerocoin exploit.

They could easily pay back the coins like many other coins that were 51% attacked did.


Aurumcoin doesn't care about their users.

Aurumcoin doesn't care that their exploited blockchain caused losses.

These are the people that promised gold backing but failed to deliver !




If 15K was taken through a 51% attack then think about it - such an amount is only owned by the top 50 holders of AU.

97.85% of the coin is held by the top 100 holders. Inside job ?

It was posted in the coininfo on 9 November on their website.
The usual sequence of events is:
Markets are paused, deposits and withdrawals are halted as soon as Cryptopia becomes aware of a problem with a coin.
An investigation is started.
Consultation is held with the developers if the coin.
An explanation is provided to the public at the conclusion of an investigation or when solid facts are known.

None of their private keys were exposed. So their wallets under their control are safe. They cannot vouch for a process that they do not control.


Show me where you can insure crypto held by an exchange.

I doubt that they have insurance for such an event. I don't know because I don't work for them.

Again - the loss occurred solely on the blockchain.  The balance is held on the blockchain.  Aurumcoin is responsible for securing the blockchain.

What Aurumcoin has done is like a security company delivering money to a bank. On the way to the bank the security company phones the bank and assures the money is on its way. On the way the security van gets robbed. The security company then phones the bank and says sorry your money is stolen due to our lack of security but it is YOUR problem.

Funds are held in trust for the customers. It is not Cryptopias funds. The funds belong to the customers. Aurumcoin lost those funds due to an exploit and don't want to put it right.

It is a peer to peer exchange. Customers buy and sell. Cryptopia doesn't sell the coins themselves. So the funds in the wallets are always owned by the customers.


Yes - the risks of the code are outlined in the terms and conditions and risk disclosure statement.

Bitcoin is far more secure than Aurumcoin. Don't compare it to bitcoin. I can list at least 20 reasons why bitcoin is far more secure.



If you are not Aurumcoins customer when you buy Aurumcoin then what are you buying ?

Each time you make a transaction Aurumcoin charges a fee. During those transactions - for which they charged a fee - they removed the Cryptopia balance !

Cryptopia doesn't charge fees for storing coins. They are not a bank. The wallets are purely so that people can trade. If someone withdrew AU from a wallet during the exploit then their transaction would have also reversed. The exploit is a problem with the product - not with the exchange.

The people that started Aurumcoin profited from a massive instamine.



What Aurumcoin has done is negligent and makes me very angry and has cost me $.  

They have lied about lots of things and that make them a scam.

They could easily fork to return the funds. Like verge did.

https://news.bitcoin.com/verge-is-forced-to-fork-after-suffering-a-51-attack/

They could easily fork to return the funds like Ethereum did after the DAO attack.

They could easily fork to return the funds like smartcash did after their zerocoin exploit.

They could easily pay back the coins like many other coins that were 51% attacked did.


But no ! Instead they spread lies and deny responsibility.


The Aurumcoin devs are scammers !

Aurumcoin is a scam coin.



Those fucking Aurumcoin scammers have blocked me from their twitter.


Dated 19 November 2018


This is their attitude towards solving problems !

LIES, BLAME EVERYONE ELSE AND REFUSE TO COMMUNICATE !

Your sequence of events is provably untrue.

9 November Cryptopia publishes 51% attack

https://archive.fo/iNLQa  10 November Aurumcoin Claims Cryptopia was hacked.
https://archive.fo/cOcYF  11 November Aurumcoin claims Cryptopia do not admit a 51% attack

As you can see - Cryptopia published the 51% attack on 9 November (and earlier elsewhere)

Aurumcoin first claimed Cryptopia was hacked (untrue) and then changed that message on 11 November to that Cryptopia does not admit a 51% attack. (also untrue).

This was archived on the day ( so a timestamp proves this).

So their the Aurumcoin blockchain was exploited and Aurumcoin was not even aware of it or lied about it.


The exploit did not occur on Cryptopia.

The exploit occurred on the Aurumcoin blockchain.

This is an example of what occurred:

1) The attacker sent 10000 coins to cryptopia over several different accounts.
2) The Aurumcoin blockchain provides the required number confirmations that the 10000 coins are deposited in the wallet.   *at this stage Cryptopia has the 10000 coins in its wallet.
3) A balance increase of 10000 coins shows on the Aurumcoin block explorer.   *at this stage Cryptopia has the 10000 coins in its wallet.
4) Cryptopia allows the attacker to sell the 10000 coins for BTC on the exchange (Keeping in mind that the Aurumcoin blockchain confirmed that those coins were added to the balance of the wallet and the amount of confirmations set are based on the advise provided by Aurumcoin. *at this stage Cryptopia has the 10000 coins in its wallet)
5) The attacker then withdraws the value of the sold coins in BTC from the exchange. *at this stage Cryptopia has the 10000 coins in its wallet.
6) The attacker now has the value of the sold coins in BTC securely in their private wallet (not reversable) *at this stage Cryptopia has the 10000 coins in its wallet.
7) The attacker broadcasts the privately mined version of the chain and Aurumcoin blockchain by being exploited by the 51% attack now REVERSES the 10000 coins from the balance of the Cryptopia wallet. The previous confirmation blocks are orphaned (made invalid).  *at this stage the exploit on the Aurumcoin blockchain removes the 10000 coins from the Cryptopia wallet balance held on behalf of its customers and gives it back to the attacker !.


So Aurumcoin first credits the amount, provides confirmations that the amount is in the wallet and then reverses the amount due to an exploit on their blockchain - then says it is not their problem.

Please explain from the above sequence of events where this is Cryptopias fault.

Please explain why Aurumcoin is not liable for the losses incurred by the buyers.

Since you said nothing new and someones sockpuppet troll account - I will repost my previous reply which you obviously didn't read or understand.


You are now on my ignore list.

I haven't seen anyone receiving a second chance after blatant copy and pasting. The only ones I have seen re-instated is where a mistake was made in imposing a ban or they were the initial author of the copied text or they were specifically authorised (i.e. community manager) to replicate the text.

In my opinion the summary of the credit card debacle is this:

1) They attempted to set up a bank and become an issuer but don't have the skills to do so. The existing banks, central banks and AML legislation and international agreements make it hard for crypto startups to link into fiat facilities.

2) They set up an indirect way to enable cards:

- Used an "associated" company "UAB KRISTOLINIS DUGNAS" to allpy as a consumer for a common prepaid credit card (fiat only) scheme with an unrelated company "Upaycard" to provide a rechargable gift card for their "employees"
- Used an "associated" company "Chain2Pay"to exchange the crypto for fiat to fund the prepaid credit cards.

My understanding is that:
It is effectively a rechargable gift card where "Chain2Pay" sells the crypto held by the user and sends fiat to "UAB KRISTOLINIS DUGNAS" to pay the "Upaycard" balance.

It is a far stretch from being a "Minex" credit card.

Not all scams start out as a scam.

Real scams also often do things to give the illusion that they are genuine. Including applying for trademarks, licenses and setting up (shell) companies.

Have you seen any audited accounts from the "companies" ?

Blockchain scams are usually just abandoned by the developers and stay running (without anyone running it) for years. Sometimes communities try to revive them (rarely with any success).

Scams often have multiple layers of participants.
-  There are those that intend to scam.
-  Those that don't initially intent to scam but start scamming later in the project.
-  Those that don't realise that they are scamming but cause others to lose $ due to misrepresentations.
-  Those that believe in a project and assist and enable scammers to pull off a scam.
-  Those that are simply fooled out of their $.

I have exposed a lot of scams. (Publicly and working on research / evidence for others)

When people believe in a project from the outset they often continue defending a project even when everyone else can see it is a scam.

I have been called many names by people that later (after the project has collapsed) have regretted their conduct.  Some of them I even communicate with regularly.

If you have holdings in a particular scam crypto then you are a victim of the scam. But you might also be directly and indirectly enable the project to scam more people.

So what is the advantage of buying a coin that is not backed by gold that requires "market makers" later buy the gold. It is not some sort of magical event.
It either means that your holdings are reduced or that the value is reduced.

What makes you think that a coin that cannot keep its blockchain secure and won't re-emburse investors for the exploit of their code will magically buy Gold to back the crypto with and who is going to ensure that you can actually claim the gold ?

A coin where most of the listed pools no longer work, all but one of the listed block explorers no longer work, all but one listed exchanges no longer list the coin, devs are no-where to be found, price is regularly manipulated, mining reward is not enough to secure the network, support is virtually no existent, blockchain can easily be exploited and requires 10 hours for a transfer (500 confirms).

In my opinion it is a ponzi that will only ever result in an exit scam payout for those that sold the idea.

You can already buy "virtual gold" that is tradable and backed by real gold through the Perth mint witha location where real gold can be picked up. Why trust some annon devs on some promises ?


https://www.aurumcoin-au.com/pools.html

500 confirms won't stop a 51% attack on this coin. The mining rewards are too low to encourage competing hashrate.

According to my calculations based on difficulty there is less than 0.168 PH on the aurumcoin network. It fluctuates between 0.1 - 0.6 PH based on the difficulty reported.



For a guaranteed success you can hire 1 PH for less than $100





In the meantime a deposit will take over 10 hours to confirm.

If they do it for 1000 blocks it won't be detected for some time either.

As soon a s the wallets opened the price plummeted.
https://coinmarketcap.com/currencies/aurumcoin/historical-data/





There is no real demand. $6000 of coins get sold and causes the price to plummet from $31.68 to a low of $1.92

I suspect what has happened with Minexcoin: (My opinion from what I have read)

1) They didn't intend to scam from the outset. It probably was a genuine project.
2) They tried to raise funds and didn't meet the target.
3) They tried to meet the development targets.
4) Things turned out harder and more expensive to make, while the funds they raised in crypto became worth less.
5) Skilled people left the project
6) Banks are making it difficult for any Crypto project to get access to fiat banking services.
7) The project came under extreme pressure to meet targets while the market cap was reducing.
8] An attempt was made to obtain card services of sorts to at least stop some of the criticism.
9) The failed attempt to obtain card services makes the project look more dodgy.


At the end of the day - the credit cards appear that they not obtained through a legitimate channel. (From a card issuer according to their terms)

People lost substantial amounts of money.

No real progress appears to have been made.

I also noticed that all the photos I have seen appear to be posed. I don't know many companies that have posters on stands in their offices identifying it with their brand. It make me think the offices may have been a short term rental or temporary offices as part of a crypto conference.

It is likely that most of the deleted posts are for consecutive posting. (My guess)

It is against the forum rules to make more than one post consecutively in a thread.
If you want to add more to the thread and no-one else has made a post yet since your previous post then just edit your previous post and add the comments.

EDIT:

Forum rules
Common rule violations resulting in deletion and/or ban

I think with any deletion it would be really good to include the reason for the deletion. It could be as simple as including the text of the initial report or a tickbox system so it is clear why the person is banned or post was deleted. It will prevent recurrence of rule breaking by those that don't intent to break the rules.

Link to rules.

Permaban:
☐ Plagiarism / copy and paste without attribution
☐ Persistent Spam
☐ Ban evasion
☐ Exploiting forum code
☐ Banned multiple times previously - ignored warnings
☐ Other - comment ..............

Deletion / Short term ban
☐ Advertising / Spam not related to thread
☐ Off topic
☑ Low quality post
☐ Too many bumps, "updates" per 24 hours
☐ Trolling   
☐ Threatening behavior
☐ Begging
☐ Un-deleted old bump
☐ Referral link
☐ Link to illegal site
☐ NSFW images / No NSFW warning
☐ Duplicate posts
☐ Foreign language on English board
☐ Altcoin giveaway (not in bounty thread)
☐ Incorrect message board
☐ Multiple sales threads for same items
☐ Sale of illegal goods
☐ Consecutive posts in the same thread (by same account or alt accounts)
☐ Link shortner that requires viewing of advertisement
☐ Translation created by automated translation tool
☐ Other - comment ..............

I think the breakthrough will happen is when Bitcoin becomes more mainstream and merchants keep the bitcoin rather than instantly exchanging it for fiat. Whenever there is an exchange there is a small loss in value. The change is most likely to happen in a bull market rather than the current bear market.

Customer pays merchant -> Merchant charges premium price for accepting bitcoin -> Merchant exchanges using a third party exchanger at a small fee for fiat at a sell exchange rate. (loss of value)

Customer pays merchant -> Merchant prefers Bitcoin -> Merchant keeps bitcoin (store of value)

The ultimate change will come when more people retain bitcoin as a permanent store of value. This requires more mainstream acceptance of Bitcoin as a good store of value.
This will happen when a more longterm holding pattern has been established. It will improve with each halving of the mining reward.

They were trying hard to to get you permabanned https://bitcointalk.org/index.php?topic=5088688.msg49002190#msg49002190