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Those 7 million were sent to an unspendable address to those two unspendable addresses above by bittrex. I can't find the post, however, you can count on them never being spent. Google Proof of burn, it's just like counterparty - destroy coins by sending them to addresses with no known or usable private keys. Edit, sorry i don't know the answer to the other questions, i have only followed this coin because it appeared scammy starting last weekend.... EDIT: Thanks fairglu for explanation. |
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It is your fault, not Bittrex
I would lost total faith in Bittrex if they didn't release the money if the terms are met
"Its your fault", "We were only the escrow service" or "Investors should have done thier homework" is not a good defense against Conspiracy to Defraud, Wire Fraud and Racketeering charges. |
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The ICO terms are irrelevant in these accusations.
The fact that it is the same "DEV" as the USE "DEV" is where the root of the imminent scam lies. Nevermind the terms, the fact that this person makes his living out of scamming people out of their BTC and Bittrex having the power to kill one of cryptos deadliest cancers is what we should be looking at, do not deviate with "ICO terms arguments".
You want irrefutable proof to act? there is none and there will never be one for the Carsens, the ASIACOINS, the list goes on and on, unless they themselves say they did it, it is impossible, this is the internet, the evidence is right there, served to you on a silver plattter WORK WITH WHAT YOU GOT! BITTREX: DO THE RIGHT THING!
Here is a US CFPB advisory on crypto companies: http://files.consumerfinance.gov/f/201408_cfpb_consumer-advisory_virtual-currencies.pdfHere is where you can file complaints against crypto companies that commit or assist in scams against the public: http://www.consumerfinance.gov/complaint/EDIT: Submitting a complaint takes only a few minutes. |
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Oh wow thanks for the heads up, why has it been moved ??! No clue. I still don't understand how an anonymous coin, with no proof of any of the innovation mentioned - managed to get 350BTC from buyers The scam works like this: DEVs use their own BTC to buy into the ICO to give the appearance of lots of interest in scam coin. They know they will get BTC back when ICO ends. Gullible investors see lots of fake ICO interest and panic buy into ICO ("Following the herd"). ICO ends and DEVS get all the ICO BTC plus they now have lots of scam coins to dump on market to make more BTC. EDIT: I hate calling them DEVs because they are not developers. The couldn't code their way out of a wet paper bag. |
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Oh wow thanks for the heads up, why has it been moved ??! No clue. I still don't understand how an anonymous coin, with no proof of any of the innovation mentioned - managed to get 350BTC from buyers The scam works like this: DEVs use their own BTC to buy into the ICO to give the appearance of lots of interest in scam coin. They know they will get BTC back when ICO ends. Gullible investors see lots of fake ICO interest and panic buy into ICO ("Following the herd"). ICO ends and DEVS get all the ICO BTC plus they now have lots of scam coins to dump on market to make more BTC. |
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let's open anti scam topic
anti ipo ico
with proofs of scams ..and conclusions ..
let those scams unite us and we fight back
+1, all exchanges reject ICO in the future, except real projects are done. Sounds good. Proof of Developer (anti-scam) should be decentralized and community driven. |
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Advise from Richie:
"if you guys would just stop buyign ICOs, devs would stop doing them "
That's how they care about their customers.
Washing their hands like Pilate? providing the means for the scam to carried out and profiting from it? I could see how they would make a case for added coins that they have no control over the premine etc. But this one is different, this was carried out in their "premises" under their jurisdiction, the thief has been caught in the process and is linked to two crimes being performed within the same day, that's close to $200,000 in fraud!. It is in Bittrex best interest to protect its fragile userbase from such obvious "attempts" (attempt because Bittrex still has the last word), it is now that Bittrex must act and show what code of ethics they operate on. There are no American companies that can facilitate scams and get away with it for long. No matter who they blame for the reasons. They are complicit. |
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Advise from Richie:
"if you guys would just stop buyign ICOs, devs would stop doing them "
That's how they care about their customers.
There is good money to be made NOT doing any due diligence with all these new coins. If they did basic verifications none of the new scam coins would have made it to the public. |
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who is the dev of this coin?
I am developing ClusterCoin project along with 3 C/C++ engineers Is there any way to provide prior development work examples to show your qualifications as a developer? Surely this is not your first development project with it being so ambitious and complex. Thanks EDIT: If you are not a "engineer" but a project manager. Please provide some prior software development projects that you managed where the project was completed. Thanks |
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who is the dev of this coin?
I am developing ClusterCoin project along with 3 C/C++ engineers Is there any way to provide prior development work examples to show your qualifications as a developer? Surely this is not your first development project with it being so ambitious and complex. Thanks |
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When will people learn that all ICOs are failures. The only people that score with ICOs are the dev team that in the end will have a bag of BTC and the investors will be bagholders of worthless coins.
ICOs fail because the dev teams do not understand the basic principle that in altcoin crypto 95% of investors are in it for short term profit and do not care about any long term plans. After the initial rise the price dumps and gradually goes down. Secondly, altcoin crypto is not far off from running a business. Once this second principle is understood, a coin will be successful. Most coin devs do not have the experience of running a company and do not understand principles like gearing, R&D, marketing, growth, strategy etc.
+++1 3.5 million coins for a week on sale in the 10000 Satoshi Why do investors have expect people buy it at the more expensive price? Is stupid  Its a good question  I would not call them investors. They are speculators hoping to make quick, large gains. |
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Looks interesting. When is this ambitious project to completely re-write the Bitcoin source expected to be completed?
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Hi Intellicoin, oops mean UseCoin. Nice Launch!
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Thanks! So the DEVs sold 1.669 BTC in pre-sale. Hmmm... that means they have 1,584,366 INT left. I wonder where that went.  Investors sent BTC directly to dev's address for a total of about 12 BTC. Later escrow from Maidak was introduced, which sold the rest. Oh, I see that now in the DEVs address, thanks. Hmm... it leads to an address that has received 81 BTC in the past 8 days. That's interesting... The DEVs and Maidak moved the BTC around so much its hard to follow... although the block chain never lies. That's what makes Satoshi Nakamoto's invention so great. Oh well time to move on to Use[Suspicious link removed]d luck. Tried to say moving on to UseCoin... seems familiar for some reason. |
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Thanks! So the DEVs sold 1.669 BTC in pre-sale. Hmmm... that means they have 1,584,366 INT left. I wonder where that went. Investors sent BTC directly to dev's address for a total of about 12 BTC. Later escrow from Maidak was introduced, which sold the rest. Oh, I see that now in the DEVs address, thanks. Hmm... it leads to an address that has received 81 BTC in the past 8 days. That's interesting... The DEVs and Maidak moved the BTC around so much its hard to follow... although the block chain never lies. That's what makes Satoshi Nakamoto's invention so great. Oh well time to move on to Use[Suspicious link removed]d luck. |
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Thanks! So the DEVs sold 1.669 BTC in pre-sale. Hmmm... that means they have 1,584,366 INT left. I wonder where that went. Investors sent BTC directly to dev's address for a total of about 12 BTC. Later escrow from Maidak was introduced, which sold the rest. Oh, I see that now in the DEVs address, thanks. Hmm... it leads to an address that has received 81 BTC in the past 8 days. That's interesting... |
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Thanks! So the DEVs sold 1.669 BTC in pre-sale. Hmmm... that means they have 1,584,366 INT left. I wonder where that went. |
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Great! Can we see the "escrow" address?
I don't know where it is just going off what was said in the thread. Really though 13 BTC for an IPO scam is weak sauce if it is one. Oh, so no "escrow address"...  $5850.00 USD is weak sauce? |
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Wow, so the DEVs made 13.9 BTC from the pre-sale. Where did that go to? Maidak has the "escrow". Great! Can we see the "escrow" address? |
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