Bitcoin Forum
May 18, 2021, 02:59:37 AM *
News: Latest Bitcoin Core release: 0.21.1 [Torrent]
  Home Help Search Login Register More  
  Show Posts
Pages: [1] 2 3 4 5 6 7 8 9 10 11 12 13 14 »
1  Alternate cryptocurrencies / Speculation (Altcoins) / Re: IGNIS and NEXT Price Speculation on: February 01, 2018, 12:42:01 AM
IGNIS listed in bittrex today.....Do you think a big dump is coming for both IGNIS and NEXT?
People in the market for a while must have some idea how the market behaves in such situation(s).

I think nxt is a dying coin. Ardr and ignis have the spotlight. Ignis is dumping now because of btc dump and also because it just hit bittrex so people who have been waiting for it for such a long time can finally sell. I am positive it will rebound well when ardr gets going.
2  Alternate cryptocurrencies / Speculation (Altcoins) / Re: Lisk Price just went up by nearly 30% on: January 31, 2018, 11:29:14 AM
I was going to post the same thing. Whatís up with lisk. Too soon for rebrand pump. Bitflyer is a non event I think. So what gives? Maybe someone has inside info and is front running?
3  Alternate cryptocurrencies / Altcoin Discussion / Re: Will 2017 gains ever happen again? on: January 30, 2018, 01:13:24 AM
I think 2018 will be amazing. Crypto is still such a tiny tiny portion of caputal markets. Also look at all the publicity crypto is getting, new people and new money coming in, forcing exchanges to close to new business, more quality projects than ever, more adoption and mass understanding. Iím super bullish on 2018-2019
4  Alternate cryptocurrencies / Altcoin Discussion / Re: Price difference between the stats on coinmarketcap and some coin exhange.... on: January 30, 2018, 01:08:30 AM
Oh thanks... but do you suggest me to try... if YoBit it's not a good choice...

Kucoin and binance are good exchanges right now. I donít think either do fiat to crypto though so you need an onramp. Personally i use bitstamp for that and then transfer my coins to the exchange
5  Alternate cryptocurrencies / Marketplace (Altcoins) / Re: Most affordable way to get GDAX currency to Binance? on: January 29, 2018, 01:54:15 AM
I usually do eth transfers because binance has a lot of eth trading pairs. That means once your funds get to binance you can buy whatever you Want. If you transfer litecoin you will first need to exchange it for btc or eth, so pay fees and maybe lose on conversion and then buy your alt.
I donít think the fees are high but it takes a while for the transfer to go through.
6  Other / Serious discussion / Re: Launching ICO based in US. SEC Rules. on: January 29, 2018, 01:38:39 AM
In order to sell securities to the public in the USA, including some crypto assets, you either need to register your securities with the sec and issue a prospectus or you can only sell to accredited investors.

I have not looked at overstock or kodak but Iíd venture to say that since they are large companies they spent the $500k or so to register their securities
7  Alternate cryptocurrencies / Altcoin Discussion / Re: Why I chose not to invest in SpectreCoin (XSPEC) now on: January 29, 2018, 01:01:17 AM
I came across few suspicious things about XSPEC and I contacted jbg (lead (and only?) developer of XSPEC) privately. After the chat I had with him, I am still not sure if I trust the guy. Then after some thoughts and recent events, I have decided that itís best for everyone to know what I know, and judge for themselves.
I will not invest long term in SpectreCoin (XSPEC) as almost everything jbg says to people is very difficult to prove and some might even be lies. Note that this is my personal conclusion, and it is based on the facts explained below.

I have been looking for a coin to invest long term and I have come across XSPEC on this forum a lot, so I decided to take a deeper look.

I am myself a software developer, so I do look quite closely to the code and its change activity. From the github commits, it seems that jbg started working on the project in June last year. There was only a few commits from June to December. From the end of September to the start of December, there was only one commit. From December onwards there has been more commits.

Then I examined these commits further: most of them were UI changes. In the 8 months (Jun 2017 to Jan 2018) there were only 3 changes to the core (most of the codebase is ShadowCoin): a quick fix on ring sizes, OBSF4 and a new feature that enables people giving stakes to the developer (!). All the rest were UI fixes and some library upgrades. That means the codebase is basically ShadowCoin with a few UI bugs fixed plus the ability to give money to the developer. ShadowCoin was a good coin regardless so at least this has inherited all the good bits.

I then checked who have been making these changes. I know that there should be two developers, each with 20+ years of experience, actively working full-time on this cryptocurrency. Weirdly when I looked into who made the code commits, only one person (jbg) had been making commits in the past 8 months. I could not see any commits done by another account.

This already sounded suspicious so I researched more and have come across his real name! This is super weird for a privacy crypto developer who claims to be anonymous. I then found also out he is in his twenties (20+ years of dev experience in his twenties?) and he used to have a bar business for two years (20+ years of dev experience on his twenties with 2 years with a bar business?) which went bankrupt with a $90k+ tax debt. Also he is now running an ecommerce business (he claims he works full time on XSPEC? Anyway website also looks quite amateur to me).

At this point I decided to contact him privately on slack. To summarize the discussion:
- About his age and his experience, he said he claimed to have 20 years experience because he had been paid for a software project he made at school when he was 9. He agreed that he might have over-exaggerated this but commented that it's kinda ok as people usually do this.
- About the bankrupted bar business (two years), he still counted this as dev experience since he developed the PoS system for the bar.
- About the mysterious second dev, he said he is a cryptographer and he is working on stealth staking that will be available in Q2 2018. I asked if the community could see any of his work, not only stealth staking, but he said I should wait until Q2.
- About the no commit period between the end of Sept to the start of December, he claimed that they were working on the UI rewrite and stealth staking. Both features were supposed to be hidden from public for now, so no way to check this.

Here is what I assess the facts given so far:
I thank him for being really transparent as he was open to discussion and didnít deny my findings. However, everything becomes more suspicious. jbg is definitely knowledgeable in the crypto space, he knows his stuff, and always answers everyoneís questions on Slack. His coding ability is certainly good enough for library upgrades and quick UI bug fixes.

Unfortunately jbg is trying to look much more experienced than he actually is. Exaggerating his work experience is problematic because it is skewing peopleís expectation and assumption when investing. We would naturally feel assured as we expect him knowing how to run, scale and lead a team, working in multi-disciplinary complex projects, and so on. This is really suspicious especially in the crypto world where scams are everywhere.

Not only his own dev experience did not check out, it is even more suspicious when there is no commits from the second dev, so-called cryptographer, on the repo. If there really had been some work done by two full-time developers since June last year I would at least see some public commits from them both.

When he claimed that both stealth staking code and UI rewrites are hidden features, I found it really suspicious. Stealth staking code to be hidden I understand, but UI rewrites? He said he does not want to make the UI rewrite public but since December he clearly has made public commits on UI changes. That makes no sense.

I honour his narrative on hidden development work but it is only his word for the last 8 months of development. As it stands, there is no actual proof apart from UI bug fixes and library upgrades. The current github commit history is definitely not enough to justify 8 months work by 1 or 2 full-time experienced developers. From my research, he's also running another ecommerce company on his own, that is a web application. I remain doubtful on the part where he says he is working full time on Spectre too. Suspicious.

As I mentioned at the start, I was going to leave the project silently after speaking with jbg as people should do their own research and make their own conclusion. However there had been a suspicious activity that made me post this publicly. Literally a day after our chat, I noticed that the github repository has been moved to a new one. This means if he or his mysterious teammate did do private commits during Sept to Dec last year, we would probably not be able prove this anymore.  

And a new github account called Bryce has miraculously showed up! This account has done no commits so far, even though it joined in September, but it has now created his first pull request! And of course it is about a library upgrade, no structural change. This is now too suspicious.

In the crypto world I am used to account for worst case scenarios and, in my opinion (and I stress this is my opinion!) the worst scenario for this case is:

- jbg is a developer who found a good abandoned coin and tried to work on it
- he created a nice community around it, he studied about crypto and SpectreCoin specifically very well so he is able to answer all the community questions
- he is lying about his developer experience so he can look more valuable
- he is also lying about another developer/cryptographer as Bryce does not exist
- always from my research, he has an ecommerce company so he can work on the coin only on his free time, not working full time as he said
- the only contribution that he can realistically offer is quick bug fixes as well as speaking to the community. That's why he is always available on slack
- aside from other features he could have done, somehow he found time to implement the feature where the community can donate him money
- his main motivation seems to be getting donations as he certainly is trying to keep the thing going. As the main revolutionary stealth staking is scheduled for Q2, he would have had 6+ months worth of donations by then. It is quite a good deal for him if you only have to do small bug fixes and answering all the common community questions on slack
- he says that he does not have much coins so he's not interested in the coin price. However people have been donating a lot of coins to him: averaged ~$6000/month only on stakes donation at the actual rate, plus all the ones he received previously, plus the ones he owns on his own. These donations means a lot to the country he lives (yup I found out where he lives) as it has a very low average salary.

This is my worst case scenario that I deduced from the information I found. It might not be true, but it is possible.

If you count the number of times I wrote the word "suspicious", you'll understand why I am not going to invest now. It is probably better to wait and see the end of February when 1.4 is scheduled with a full UI rewrite. This is also suggested by jbg and I will pass this on but bear in mind that he is happily receiving donations in the meantime.

Few last things:
- I am not going to reveal jbg identity or how I found it. But I have proofs of our conversation, and I can share this if necessary (with all personal information censored).
- I already spent too much time on this and I need to move on Smiley. For this reason I don't think I am going to reply.
- I really hope jbg will prove what I wrote wrong with the delivery of the Spectre road map on time.
- I hope cryptographer Bryce really exists Smiley
- crypto is full of smart people and scams, try not to invest on words, but invest on facts.

Thank you for this research! The amount of accounts shilling xspec on this forum is supremely annoying and another red flag in my opinion. Of course I looked into the coin too and decided to pass because I donít invest if the team is not known. I also found some threads on Reddit if i recall correctly that went through the revolving door of developers or team members at xspec. Glad to know Iím not the only one on all of bitcointalk that doesnít trust the future of xspec!
8  Alternate cryptocurrencies / Speculation (Altcoins) / Re: Which Coins to buy that will 10x coins from now till August $$$$$$ on: January 29, 2018, 12:52:23 AM
Ubiq is a strong contender. This year I also like simple token, storm and telcoin

Until August is not that much time so you canít buy a too new coin and expect it to do something. But you can also buy into a good ico, sometimes itís an easy 10x
9  Alternate cryptocurrencies / Speculation (Altcoins) / Re: Buying the rumor. Upcoming news thread! on: January 29, 2018, 12:47:15 AM
Icx will apparently announce 12 icos on itís platform on January 31. Not sure itís true, heard it on twitter, but this is a rumor thread right!

lisk rebranding supposedly on feb 20

Zcl/btcp fork date is February 28
10  Other / Ivory Tower / Re: What is the biggest problem for crypto. on: January 28, 2018, 01:06:11 AM
The biggest problem is lack of trust in crypto by people who are not in it. This creates ignorant panic (eg bitcoin is a bubble and will be worth nothing) and it also results in governments and big companies like banks and credit cards from facilitating crypto transactions.

I think the lack of trust stems from:
1 not understanding the importance of the technology
2 lack of regulation and kyc
3 all the scams and hacks over the last x number of years
11  Alternate cryptocurrencies / Speculation (Altcoins) / Re: How big do you think $zrx will be in 2018? on: January 27, 2018, 02:30:00 PM
I like zrx but it has so many competitors. Also I think 2018 is a bit too soon for dex to be successful. I think in 2019 it could be a top 10 coin though or close.
12  Alternate cryptocurrencies / Speculation (Altcoins) / Re: SYSCOIN most undervalued coin out of the top 50? on: January 27, 2018, 02:28:12 PM
Yes it is undervalued, but I think the most undervalued project is oax. Sys is still undervalued despite all the developments of last year.
From the point of view of supply, $2 would make it a $10b coin. That is huge. Sys also has many competitors both in the blockchain space and outside, so mass adoption will be difficult.

Donít get me wrong. I like sys. I like their team and marketing and I will hodl my coins.
13  Alternate cryptocurrencies / Speculation (Altcoins) / Re: Be update Storm ---> 0.25 possible! Storm wil become be crazy later! on: January 27, 2018, 02:19:41 PM
I think storm will be amazing. The team is great and now they got Charles Hodgkinson as an advisor, who also advises Cardano and xrp, some of the biggest coins. Very exciting!
14  Alternate cryptocurrencies / Speculation (Altcoins) / Re: SYSCOIN most undervalued coin out of the top 50? on: January 27, 2018, 02:01:15 PM
I have a lot of faith in syscoin but I donít think it is the most undervalued project in the top 100. It will rise in price for sure in 2018 but I donít see it going much higher than about $2
15  Alternate cryptocurrencies / Altcoin Discussion / Re: Datum in Forbes!!! on: January 27, 2018, 01:44:36 AM
I like Datum. I think their idea is really good and Iím glad itís getting exposure, whether paid or not. I canít wait until the app is functional
16  Alternate cryptocurrencies / Speculation (Altcoins) / Re: Who's next to go to the Moon? on: January 25, 2018, 01:36:09 AM
Ven and icx. Ven is rebranding now and announcing partnerships all the time. Icx main net has just launched, conference coming up and 5 coins will be built on it already. Eng is my 3rd pick. There are lots of good coins out now i think, i also like zrx and bts but I think their moon will be 2019 or later
17  Alternate cryptocurrencies / Speculation (Altcoins) / Re: BAT - Basic Attention Token ICO (31-5-17)- Worth Investing? on: January 25, 2018, 01:30:24 AM
The Basic Attention Token project just announced that they doubled the Brave publishers in a week.  There are now around 8000 sites and youtube creators verified to receive BAT.  At the rate that the team is adding new publishers, there won't be enough BAT tokens to go around.  BAT is going to fly!

Thatís awesome news! I saw some technical analysis on the chart that suggested BAT will go up. Itís about time. One of the few crypto projects with a working product.
18  Alternate cryptocurrencies / Speculation (Altcoins) / Re: 🔵 Experiment: Turn $1000 into $100.000 [current value: X] on: January 23, 2018, 07:03:05 PM
I think itís an interesting experiment. Is your plan to to try to find one coin to do a 100x (very risky) or find a coin that will do 3x-5x, take profit and put money into 3 other couns for 3x etc. I think it is doable but 6 months is not a lot of time. You donít want to make dumb moves and take unmeasured risks because of an arbitrary timeline.
19  Alternate cryptocurrencies / Speculation (Altcoins) / Re: Opinion on Telcoin (TEL) on: January 22, 2018, 05:19:53 PM
I love Telcoin. Discovered it last week and bought on kucoin. Itís a very risky bet because there are no partnerships yet. They will also be competing against existing non crypto payments like mpesa. And the supply of coins is big. But the market potential is massive, the idea is definitely on the right track and the team is solid. I wouldnít put my life savings into it but I think a 10x from today is easy with this one.
20  Alternate cryptocurrencies / Speculation (Altcoins) / Re: Token distribution: why is it important? on: January 22, 2018, 05:15:13 PM
Is the distribution being done fairly and widely is important. You donít want a few whales to buy the entire offering and be able to control the price.
Pages: [1] 2 3 4 5 6 7 8 9 10 11 12 13 14 »
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!