Yes, "coin rot" is a serious issue -- for coins like pasc that will wipe your balance.

Let me clue you in on how this plays out.

You have a small clique of pasc holders who actually follow this terrible project. They all think it is funny that your coins will go missing. They hope to get them. Over time, the money supply gets concentrated into this clique. If you look away long enough, then your coins go missing, and the 3 or 4 people here who have coins will laugh at you when you realize what happened. They all think they get richer, getting a few dollars of coins at a time, but in reality, the market cap, audience, and liquidity dwindles.

Look at other coins that don't have this stupid feature. Take Ethereum. If you had some NFT from Ethereum's first years and didn't check in on it, you'd be a multimillionaire. You would be able to do this because of confidence. Confidence is such an important part of money, that they make reference to it on many denominations. For example, US currency says "In God we Trust". In other words, money should inspire a level of confidence akin to religious faith.

These PASC jokers, and even the dev, would rather they get your NFT and your Ethereum balance, and be able to make fun of you. This coin will never make them rich. In fact, it will only make them and anyone who owns this coin increasingly poorer.

It's a coin that inspires no confidence because your coins can disappear. It is a coin for jokers and a joker developer who will laugh at you when your coins are gone.

Put your money in any of the other thousands of coins where you can be confident your money will not disappear according to some arbitrary rule.

This can only mean one thing. @theymos was hacked.

Nice fud, but the real website works.

https://xpa.io/

The bitgrail owner wrote bad code and people were double depositing BTC and ETH. They then bought nano twice with their double deposits.

The bitgrail operator blamed the whole thing on nano, so he wouldn't be embarrassed.

It was dishonest, but not a scam. The scammers were the ones who didn't report their double deposits and used them to make buys.

Let me help you understand. XRB boils down to a proof of stake system. All of the consensus is determined by nodes called representatives. People choose representatives to validate transactions, and their stake is proxied to these representatives.

Where is the value? The value is in the opportunity cost of the XRB. If the value of the XRB is used for something else, like selling the XRB and investing the proceeds in stocks and earning dividends, then this value will make profits. That lost profit (for those who don't sell XRB and invest in other assets) goes into the XRB network. Rather than burning up electricity, or diluting the money supply, individuals simply hold XRB they will use anyway and the opportunity cost is sunk into the value of the system.

That means, the more valuable XRB is, the more secure is the system because the opportunity cost is greater. This is like bitcoin where the more expensive it is to mine a bitcoin, the more secure the system is.

This XRB system requires only that a few people run very inexpensive nodes. If you have a raspberry PI and a $10 SSD card, you can run a representative node for about 2 watts of power. This can easily be paid for by any business that may have an income based on the utility of XRB. For example an exchange, or payment processor, or even a business that simply accepts XRB as a form of payment.

So, even though it requires a little "altruism" to run a node, the investment is negligible for any business, XRB community member, or even hobbyist.

You are right, nothing is free, but in XRB the costs are hidden because they are somewhat esoteric (opportunity costs). But ask any economist or investment advisor and they will tell you that when it comes to investments, opportunity costs are very real.

Another analogy is "I gave the keys to my Ford to an Italian exchange operator and he took it. It's Ford motor company's fault my car got stolen."

So many questions left unanswered about when bitcoin was hacked on mtgox too.

What's your point? Exchanges get hacked.

Bitcoin sucks by the way. It is slow, it can cost $20 to send some, people spam it and kill the network all the time. Even doge is better.

nanowallet.io is a local wallet. It just runs in your browser. It is like the copay wallet for bitcoin.

You don't work with a thieves like bitgrail for a resolution.

They stole money. If you give them more money they will steal more money. Capiche?

Don't leave your money on shady shit exchanges.

I thought you have been around enough to know that.

There was no bug in the nano code. The bug was due to the bomber misleading everyone that he was running a legit working exchange. You got taken by an exchange, and it isn't the first time exchanges try to pass their corruption/incompetence off as fault of the coin. Remember when mtgox tried to pin their crash on "malleability". Everyone now knows that was a huge lie, but suckers who leave coins on an exchange buy these lies because they can't handle the truth that they shouldn't have put their money in the hands of exchange operators.

Next time don't be lazy and set up your own wallet. There were and are plenty of options.

You got the appropriate response for suggesting that the dev team should do anything special (or should take any responsibility) for your trusting a 3 month old exchange with any more money than it takes to do a daily buy and move off. The bomber was an asshole from day 1, anyone following bitgrail would know this. I doubt you were actually trusting, but just too lazy to manage your funds responsibly and move them to a safe wallet.

I have plenty of IOTA. A lot. I'll probably baghold it a long time because I'm smart that way.

Because of this I am honestly concerned about the reputation of this project.

You should clear the air. What were the terms of the ICO? Was the claiming procedure laid out with known repercussions if it was not followed correctly?

If not, and you have moved the goalposts on your supporters, then you should redeem the purchased IOTAs according to the terms of the sale, at the time of the sale. It does not matter if someone threatened legal action and it makes you angry. If you need their identity, it will be provided if they file suit.

The critical factor is to remain faithful to any terms you made yourself. It is not a matter of "rising above" anything except, and don't use this word loosely, deceit. If you do not remain faithful to the terms of the original sale (i.e. what they understood when they sent you money), it means you have deceived your buyers. There are no two ways. You may "agree to disagree", but it does not change the nature of your actions.

I can not find the terms of the original sale, and you could be acting well within them.

I hope that is the case.

It looks like this ICO is falling flat and no one is contributing. This is because of lack of attention by the dev.

What I get from this is a few possibilities:

1. The dev doesn't care about this endeavor
2. The dev thinks he is "too smart" to show he cares -- known as "aloof dev syndrome"
3. The dev doesn't realize he needs to engage the potential buyers
4. The dev doesn't want potential buyers for some sort of inside play

My guess is it is #2. But there's not much anyone can do about aloof dev syndrome. The big problem is that these aloof dev ICOs ALWAYS turn out to be scams. I've never seen an aloof dev ICO that wasn't a scam. They may not intend it to be, but they usually are. It might be that the dev can't bring himself to interact with all these people who bought his coins but don't share his Einstein intelligence (for which no evidence is ever produced). But in the end, the dev goes dark and doesn't deliver, and the coin price tanks badly.

Dev if you are listening and can put aside your "I'm smarter than everyone here" issues, you should engage the community and try to get some buys. As it stands, you already abandoned this project once for lack of funds, and are likely to abandon it again for the same reason.

Quantum resistance is old news now, and even though you "came up with the idea a long time ago", the money goes to the people who ACTUALLY DO IT. This isn't a virtual reality video game where you win in your head. The pat on the back your mom gives you for a good idea is not worth shit.

It is the real world where doing means success and not doing means big time fail.

Just some tips from a pro.

Plan for the future and make a PoS coin. Give up the PoW religious nonsense. It works for only the biggest coins, and isn't necessary for chain security. It is great for distribution because it is "fair" but shitty for chain security.

Look how many PoW coins got hacked. Even the WBB dev said at some point that WBB would NEVER be PoS. Now they have to go to PoS and he has to eat his religious words.

Do the right thing and go with PoS from the start. The PoW religious fanatics hate the suggestion, but they are delusional and shouldn't be listened to.

What is the best way to get NEWB off of C-CEX? ETH wallet or NXT wallet?

I see it.

So what was going on was no free money for you? Sounds bad. 

You really shouldn't mix hallucinogens and glue sniffing.

This coin has gone non stop without any problems since launch.

You are a WBB fanboy, and WBB has been hacked a zillion times, with the devs begging for WBB to be delisted from all major exchanges.

You really fuck people up with your bad advice.

They were giving away free money. Your bitch is you didn't win free money?

I see this one as having some legs if users can create 3D VR games and then there is some API where VOX can be used inside these games.

There is no reason game credits should have a higher cap than VOX. This could be a communication problem. The ANN has some informational holes that need clarification about all the use cases, planned and implemented for VOX.

Bottom line: inside games is going to translate into lots of upside.