i've moved posts around, to keep information in the OP. this thread started with amusement at Barr_Official/runpaints awesome troll level, but has evolved also into pointing out seeming "questionable or suspicious" behaviours around BARR.
the 2nd post contains my original post, followed by copy/paste chat from Barr thread. mainly for lols
my personal opinion is that runpaint is not a scam dev.
he seems to be operating from naive principles. and is quite respectable at trolling which unfortunately relies too heavily on personal abuse which quickly alienates other parties resulting in fairly one sided conversations as others leave and he remains ...
...
this contains information obtained prior to the Feb Bowscoin swap.
BARR is a Next Asset shitcoin, it has a distribution model based on burning shitcoins for BARR, also incorporating a burning BARR for OFFS. Seems a good idea.
ANN date October 25, 2015. Launch date November 1, 2015
It seems from a brief analysis, the swaps that have occurred, have been inadvertently heavily skewed in favour of the dev team,
with a vote process seemingly controlled entirely by runpaint, and early coins were publically claimed to be bagheld by runpaint.
Runpaint seems to currently hold at least ~61% of all distributed BARR, and ~60% of OFFS , (this figure prior to BSC swap in February)
1. which NXT accounts holding Barr/Offs do you or other team members own?
Most of them. What is the point of that question?
There's no way to hide BARR, because one click shows every account that holds it.
There's no way to hide how it was distributed, because another click shows every transaction that's ever been sent from the burn fund, and every transaction has a message attached showing which altcoins were burned to earn that BARR, as well as the altcoin txid going to the burn address.
many of the addresses are not labelled, the 61% figure above was determined by some digging around and is not publicly accessible knowledge that the addresses necessarily belong to run paint. it is based on three labelled addresses.
There will be no IPO, no ICO, no Pre-Sale, and no funds set aside for the devs. BARR is only distributed to people who burn their altcoins - We distribute it for free, but no one can get it for free.
coins burnedNovember 1 - 30 2015 : Fractalcoin (FRAC), Keycoin (KEY), Sapience (XAI), BARR
December 1 - 30 2015 : Anarchists Prime (ACP), Lyrabar (LYB), BARR
January 1 - 30 2016 : Bunnycoin (BUN), Unitus (UIS)
February 1-29 2016 : Bowscoin (BSC)
Barr seems openly an opportunity for those involved to divest their shitcoins while attempting to pump a new shitcoin.
Not necessarily a bad thing of course.
As you noticed, I have been involved in our 3 launch coins for a while, but not as a developer. I started out as an altcoin daytrader, and I ended up holding some coins that not many other people wanted to buy. That includes Fractalcoin, Keycoin, and Sapience, although "coins that not many people want to buy" describes over a thousand altcoins. Probably 99% of all altcoins.
I think he's saying that we're only pretending to have a big list of coins, but we "secretly" chose the ones we already hold.
Not so secretly. Quite openly and deliberately.
As seems reasonably fair, it can be appropriate to give the dev team a house edge. A reason to invest time and money as it were. Some coins might issues a premine for this reason.
fair enough- however I might add another angle, and that is that of course people taking the initiative have got the edge.
idea, initiative, risk- get rewarded.
I don't even see it as an edge or advantage for us. I hold these coins, but so do a lot of other people, and we're just exchanging them for another coin.
runpaint seems to make some economically naive claims.
no advantage in pre-holding the shitcoins chosen? no advantage in choosing the list? no advantage in setting the swap price after a period of private trading?
it certainly seems that the process so far has been heavily weighted,
that has so far resulted in ~61% ownership of all distributed coin supply?
coin votingThe voting system has shown no outside influence, resulting in total coin choice by runpaint.
To vote for an altcoin to be accepted during the next burn period, send BARR to the Market Fund and include a message with the transaction naming the coin or coins you are voting for (don't encrypt the message). 1 BARR equals 1 vote.
here's the market fund address showing the full apparently voting history
https://www.mynxt.info/account/18396052473200615062november 15. vote by runpaint. 1 vote for ACP, and 1 vote for LYB as Wild Card
december 6. vote by runpaint. 50 votes for Bunnycoin, 50 votes for Unitus as Wild Card
december 13. vote by runpaint. 1950 votes for Bunnycoin 1950 votes for Unitus 50 votes for Cetuscoin 50 votes for Chaincoin
jan 14. vote by runpaint. 10000 Votes for Bowscoin
future votes maybe interesting as anyone owning 61% of a coin certainly seems to have an advantage .
how much of total distribution of Barr does runpaint or Barr team owncutting to the chase. runpaints personal address
https://www.mynxt.info/account/NXT-297T-ZFG8-M3A7-D4TFJ 420,324.5787 BARR
138,205.0000 OFFS
then from ANN OP (which seems updated since my last perusal?)
BARR 230,356 coins burned out of 993,343 in circulation = 23% (self-burned BARR, sent back to the burnfund)
OFFS - 15,000 coins burned out of 230,305 in circulation = 6.5% (permanently destroyed)
~42% of BARR and ~60% of OFFS
unitus.ninja has 105,000 barr
https://www.mynxt.info/account/NXT-Y5X2-T3ZU-LFWK-9GHE6runpaint is the controller of unitus.ninja
http://wsdn.info/domain/unitus.ninja http://wsdn.info/domain/barr.meshare the same ip as reported. 192.64.117.85
lyrabar.us shares the same ip
192.64.117.85
https://www.mynxt.info/account/NXT-X4XU-73KL-7ZAV-CCN2Xholding 81,198.2408 BARR
lifting runpaints seeming ownership of barr to ~61% of total coins distributed.
so far ..
..
points to ponder,
100% of the coin swap list has been chosen by runpaint.
that person seemingly owns ~61% of BARR and ~60% of OFFS
that person,as well as admitting bagholding various coins also registered this address suggesting he bagheld lyrabar as well.
http://domainbigdata.com/email/runpaint@yahoo.comList of domain names registred by
runpaint@yahoo.comlyrabar.us 2015-08-28
that same person has been in communication with Bowscoin dev for several months
We've been talking to BowsCoin Dev about burning BowsCoin since last October. He has never objected in the past 4 months.
the swap ratio's are set by Barr, earlier coin ratio attempted to mirror a real world swap value, but those values were heavily skewed through a pump process.
Bun was declared at a higher value, attempting to encourage pump behaviour.
The resulting higher price creates a more favourable ratio for swappers, another crafted advantage.
a stated attention is to lift the "difficulty" and aim for higher value coins, this will have the advantage of reducing the amount of Barr needed for each swap.
similar to a POS halving regime, the early swappers get higher rewards and the later swappers get lower. this will help maintain the serious imbalance in coin distribution.
will Barr's future voting list closely mirror runpaints prior activities on coin threads?
how much BTC have they invested in pumping these coins, not just to enhance their swap ratio's but also to enhance Barr's "real" value.
.
when they account for their burns, they also seem to use naive market value approximations.
We have burned 2,000,000 BSC, which is over 37% of the supply, with a current value of approximately $3200.
the then current price on c-cex was 400 sats or so.
the buy book had a 0.0001 btc buy order at 400 sats, with the next order at 200,
and a total buy support of 0.31 btc down to 1 sat.
using a market valuation based on current price is easily manipulatable, and does not seem highly useful for a coin with no support.
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amusing quotes -
One BARR appears to be worth 0.00002834BTC at this point in time and there are 10,000,000 BARRs out there
Incorrect. Where did you get that figure? BARR is at 3.3 NXT, so it's more like .00009000
BTC.
And there are 0 BARRs currently out there in circulation, with a maximum of 1,500,000 issued by the end of the first exchange period, if we burn 100% of the supplies of KEY, FRAC, and XAI.
yep, 0 Barrs in circulation trading for 3.3 NXT
--
-sigh-
Fractalcoin wallet now rescanning. I sent 2 smaller transactions, but then I broke it by sending one too big.
The fact that these things barely work is an excellent example of why we're doing this project.
on his thread, vs trolling DGCS dev
If you plan to transfer more the 100,000 coins I suggest you break it up into smaller amounts and do it in several transactions. Now sure how much the block chain can handle
Yeah those block chains can only handle so many bytes, keeping it under 100,000 will save 1 byte so that's good advice
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I was looking at data of XAI, KEY, FRAC markets and it appears that on Nov. 1st all of these markets experienced price increases due to people buying these coins for redeeming for BARR.
That is part of our stated purpose. The only way to earn new BARR is to burn the accepted altcoins during each burn period, so we have to support the price of these altcoins in order to support the price of BARR.
when you want to buy shitcoins to burn you want to pump them first.
with the stated intention of making it more attractive for bagholders to burn,
whilst also enhancing swap ratios for everyone. especially bagholders
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other accusations of foul play
You bought them outside of the exchange period and outside the exchange price, which is trade as usual. How do we not know you are collecting them at the current exchange price and using the pre pumped coins to profit off barr invesotrs/ almost buying 3:1 barr with your pre purchased ACP
There is no "buy period". We exchanged them within the exchange period.
and outside the exchange price
There is no "exchange price", other than 1 BARR for 20 ACP. That is our rate, and it doesn't matter if you mined your ACP, bought it low, bought it high, or got it for free. None of that is any of our business. We exchange ACP.
They started buying. Then set a coin swap ratio after some privately transacted purchasing had been going on - obviously if there stated intentions is to raise the price, there is a certain amount of coins bought below the set ratio.
Just another bit of "how to get moar coinz for free"? or "none of our business, none of your business"?
and using the pre pumped coins to profit off barr invesotrs/ almost buying 3:1 barr with your pre purchased ACP
That's not how it works, and you don't seem to know what you're talking about.
buying under 600 sats gives them a higher swap ratio.
any pump action inadvertently gives them a chance to pick up cheap coins and swap for a better ratio.
possibly they are changing the process? assumedly to positively enhance Barr.
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But they are wrong; it's not a zero-sum game. Capital can be destroyed. People are pumping money into cryptocurrency, and that money isn't guaranteed to continue existing in any form. Altcoins die, and there is less money available in the world. More specifically, there is less money available in the crypto world.
but strangely owning 61% of an alt makes it worth as much as it's latest trade. market capitalizations based on latest trade info doesn't' seem particularly useful in the case of 99% of all crypto shitcoins where a minor dump can diminish their price considerably.
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The voting is over for January, and the winners are Bunnycoin and Unitus as a Wild Card.
well done runpaint, the single vote cast by you was a decisive blow.
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, seemingly just starting again from scratch (using old gensis etc) with no mention of the previous coin supply.
