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Well, that response from the devs wasn't quite as reassuring as I would have liked, but I definitely am not selling in the midst of a panic. Suppose I'll withdrawal my daytrading MINT from cryptsy to my local wallet for now, wait a few weeks, and hopefully this all blows over soon.
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if that doen't go to exchange soon then it will be bad
Chill out, so if a coin doesn't hit an exchange in under 24 hours it is dead now? Jesus, no one has any patience anymore. MINE ALL THE COINS IN THE 1ST WEEK, HALVE BLOCK REWARDS EVERY BLOCK, GET IT ON AN EXCHANGE AS SOON AS THE GENESIS BLOCK IS MINED, AND IF THE PRICE DOESN'T CONTINUOUSLY MOVE IN A STRAIGHT LINE UPWARD AT LEAST DOUBLING IN VALUE EVERY DAY FOR ETERNITY AND IT DOESN'T MAKE ME A MULTI-MILLIONAIRE BY TOMORROW IT IS A DEAD SHIT COIN!!!! Sorry, i'm not specifically picking on you. That just seems to be the attitude around here these days. |
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Looking to give 100k MTX to first person to create a Block Explorer and MTX Exchange!
As far as an exchange goes, the scifi-ex.com seems like a natural fit. Unfortunately, like 4 people trade on a volume of 1/100 of a BTC a day there. Exaggerating of course, but damn, wish that exchange would see some growth already. |
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I understand honesty is hard in crypto. That's why when we found this exploit the FIRST thing i did was find the dev's contact details. You do not want to see the replies. Contact your dev's and demand a fix.
actually we DO wanna see the replies. Just post them here. That way you could provide proof that you've done as you told us. Thank you!
+1 I do wanna see the replies. If the MINT devs are incompetent douchebags, I wanna know. |
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I want to hear from MINT devs as well. If the MINT devs do not believe this is an issue because it is FUD or because they have a fix in the words, they need to let us know now.
I am not easily shaken by price drops, bad news, FUD, etc if I believe in a coin I am holding long term. This seems to hold more weight than simple FUD though.
I mean, rat4 publicly demonstrated the attack can work, the whole world can see the blocks in the explorer.
MINT devs need to drop whatever they are doing, address this, and issue a statement IMMEDIATELY.
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Nothing against UTC, I own some, and I assume we will see some of the new anti-ASIC coins pop up on BTC-E before long, but if any of those coins deserves to go to BTC-E it is VTC simply based on market cap, volume at cryptsy, and community support. I see a bright future for UTC, but VTC deserves the spotlight first.
We have all, without marketcap and volume. And this is why more attention should be directed at UTC. With VTC is already too late for me. This is because the capital UTC is small compared to the VTC is a great opportunity for investors. UTC is now very cheap, just at a given time only 12 BTC to have 100000 UTC. We will continue to work hard to UTC was spotted  Thank you. Yes, but BTC-E doesn't exist to make you money. If UTC cannot grow to a larger market cap without BTC-E first, it doesn't deserve to go to BTC-E. A coin needs to gain market cap and attention on it's own before it deserves a spot on BTC-E, not the other way around. |
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nevermind, i turned my brain on and found it on sourceforge. may wanna fix that typo though.
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windows wallet for version 0.9.5? both links in the ANN go to linux version
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Nothing against UTC, I own some, and I assume we will see some of the new anti-ASIC coins pop up on BTC-E before long, but if any of those coins deserves to go to BTC-E it is VTC simply based on market cap, volume at cryptsy, and community support. I see a bright future for UTC, but VTC deserves the spotlight first.
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The DIEM pool went from finding blocks left and right to finding none for like 20 minutes. Front end not updated, it's broken, or did a huge miner just hop off?
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Where is Sunny King? I will take this as nothing more than FUD until the godfather weighs in.
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Proposed coins for first 10 listed, simply grabbing the lowest volume from CoinMarketCap
NoodlyAppendageCoin
BellaCoin
Credits
Zeuscoin
ORObit
LeproCoin
FoxCoin
Magic Internet Money
Emucoin
Skeincoin
Aliencoin
These coins are already low though. This is about knocking down shitcoins, not beating a dead horse. Also, FoxCoin and MIM have gone nowhere simply because their distributions were too fair, IMO. They weren't mined out in a month so didn't appeal to the get rich quick crowd which seems to represent this generation of miners. They are solid little coins, and don't deserve to be murdered. I guess this is all relative, which is why I think a formal voting system of some kind is needed, but PANDA, GLD (the original scam coin!), and MOON seem to fit the bill. |
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"Client Trading with Cryptsy support"
does this mean edge coin will trade coins with people on cryptsy?
can you explain this please?
It means you can use cryptsy, in the client. so you still send your coins to cryptsy?? you just do the trading in the client apposed to on the website? if so i am immediately not investing in this coin... If you are investing in anything that speaks of a truly decentralized exchange that isn't MSC, XCP, BTS, NXT, or ETHER, you are probably being scammed. Honestly, the fact that din admitted the exchange is simply an implentation of cryptsy's api is the only reason i did invest (through anon136's escrow of course). Din is promising MINT 2.0 with a fancy wallet. That is all this is. If something sounds too good to be true, it probably is. The odds of a random anonymous dev popping up with a working decentralized exchange out of the blue are next to nil if you spend 5 minutes contemplating the complexity of that undertaking. The early investors in nxt really won the lottery. And not one with a positive expected ROI. They were just freaking lucky. It was an smart decision ex post but completely moronic ex ante IMO. Ill be even more surprised if lighting strikes twice. Oh for sure. I am not expecting a NXT level of ROI by investing in this. Anyone expecting that is naive. Like I said, I am looking at this like MINT with a fancy wallet, and thats all it needs to be to make 5-10x my ROI. Thats all I'm hoping for. |
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"Client Trading with Cryptsy support"
does this mean edge coin will trade coins with people on cryptsy?
can you explain this please?
It means you can use cryptsy, in the client. so you still send your coins to cryptsy?? you just do the trading in the client apposed to on the website? if so i am immediately not investing in this coin... If you are investing in anything that speaks of a truly decentralized exchange that isn't MSC, XCP, BTS, NXT, or ETHER, you are probably being scammed. Honestly, the fact that din admitted the exchange is simply an implentation of cryptsy's api is the only reason i did invest (through anon136's escrow of course). Din is promising MINT 2.0 with a fancy wallet. That is all this is. If something sounds too good to be true, it probably is. The odds of a random anonymous dev popping up with a working decentralized exchange out of the blue are next to nil if you spend 5 minutes contemplating the complexity of that undertaking. |
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Seriously, people speaking of dropping block rewards because omg, we need to wait another month before getting down to 10,000 coin blocks.
It's like all coins must be as blatantly scammy and mined as fast as possible these days.
Chill out, buy some cheap MRC, and watch it slowly rise.
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Guys, sorry to ruin the party, but this is clearly a scam by the same guy who did StackCoin. StackCoin thread:https://bitcointalk.org/index.php?topic=457575.0Notice the similarities (custom GUI for wallet, Cryptsy sypport in the wallet, same investment details)? Hell, even the Photoshops of the wallets are very similar. StackCoin was never released and over 70 BTC was stolen from the investors. You might want to think twice before you invest in this scam. Could be, that's why there is escrow. Unless you think anon136 is in on the scam too. |
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Another thought I was having. Obviously the details of how this whole system is gonna work are still up in the air a bit, but I would be careful about overly-automating the whole process of buying alts/dumping alts/buying DEL/deleting DEL. This system needs to have some unpredictability and randomness to it or it will never work and will be abused by traders.
Here is what I mean.
Say I am some poor schmuck stuck with loads of Shitcoin #112. Now, I do a bit of math based on the exchange rates for DEL you posted and all of a sudden I realize, hey, if I just swap my bag of Shitcoin #112 with the DEL devs, the DEL I get will trade for twice the BTC I would get if I just dumped Shitcoin #112 on the exchange! Well, I might as well just dump this DEL, keep half the BTC, and since I know how much of Shitcoin #112 I just sold you, I can take my profits and put in some low orders and get my bag of Shitcoin #112 back again when they dump it. Then I'll trade my reacquired bag of Shitcoin #112 for DEL...................................I think you know where I am going with this.
As hard as trust is to come by in this world, for this project to succeed the community needs to trust the development team here a bit and let certain things be unknowns. What if it was revealed that the DEL devs held 25% of Shitcoin #112? Well it would certainly hold the price of that coin down momentarily, but all you will have is traders jockeying to get really low buy orders in to scoop those coins back up crazy cheap for the inevitable dump by DEL devs.
Even worse would be if dump alt day and buy DEL day had some sort of pattern or happened on the same day of the week. On dump day, all the traders are slipping in really low buy orders. On buy DEL day, all of the a sudden all the low DEL sell orders are cancelled. Then, all the traders are just selling you back the same coins every week!
I am sure many other situations can be imagined. If the rate of trade between shitcoins/DEL is 100% predictable and calculable, if the DEL team is 100% open about what coins they are currently holding and in what quantity, and if the dumps/buy ups happen with any sort of regularity or predictability, you aren't helping to destroy shitcoins. You are creating a wealth of information that any trader worth their salt will exploit to the fullest.
My opinion is some randomness and unpredictable needs to be introduced here. The calculations included in the ANN on exchanging your alts for DEL, well maybe fine as a base, cannot be that predictable. Perhaps some way to randomize the reward for exchanging your alts. You might get 100% of the DEL you are owed based on those calculations, but that is just the average. Based on some sort of random factor, you may only get 33% of that figure, or 75%, or 140%, or 300%. Can't be sure.
And while I think the amount of DEL distributed through trading for unwanted alts should be revealed for all to see, I don't think anyone but the DEL devs should know what coins they are holding.
Dumps and buys entirely random. Maybe 3-4 dumps one week, 0 the next, 2 the next. Same patterns with the buys, random and unpredictable.
We thought about this also, it is not going to be an immediate thing which should combat people doing anything like this. We will build a quantity large enough to crash the alt an no one except my team and our partner exchange will know when, how much, and how frequent. Awesome, glad you guys are way ahead of me and thinking of these possibilities as well. |
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Just a reminder that this is the current thread, I see new posts in the old one. Happy to answer your questions here. Thank you. is there a confirmed list of investors for stage 1?
Of course, http://edgecoin.info/investors.htmlWhat about the escrow investors? That list has not been updated. All who invested in stage 1 want to know where they stand right now. |
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Another thought I was having. Obviously the details of how this whole system is gonna work are still up in the air a bit, but I would be careful about overly-automating the whole process of buying alts/dumping alts/buying DEL/deleting DEL. This system needs to have some unpredictability and randomness to it or it will never work and will be abused by traders.
Here is what I mean.
Say I am some poor schmuck stuck with loads of Shitcoin #112. Now, I do a bit of math based on the exchange rates for DEL you posted and all of a sudden I realize, hey, if I just swap my bag of Shitcoin #112 with the DEL devs, the DEL I get will trade for twice the BTC I would get if I just dumped Shitcoin #112 on the exchange! Well, I might as well just dump this DEL, keep half the BTC, and since I know how much of Shitcoin #112 I just sold you, I can take my profits and put in some low orders and get my bag of Shitcoin #112 back again when they dump it. Then I'll trade my reacquired bag of Shitcoin #112 for DEL...................................I think you know where I am going with this.
As hard as trust is to come by in this world, for this project to succeed the community needs to trust the development team here a bit and let certain things be unknowns. What if it was revealed that the DEL devs held 25% of Shitcoin #112? Well it would certainly hold the price of that coin down momentarily, but all you will have is traders jockeying to get really low buy orders in to scoop those coins back up crazy cheap for the inevitable dump by DEL devs.
Even worse would be if dump alt day and buy DEL day had some sort of pattern or happened on the same day of the week. On dump day, all the traders are slipping in really low buy orders. On buy DEL day, all of the a sudden all the low DEL sell orders are cancelled. Then, all the traders are just selling you back the same coins every week!
I am sure many other situations can be imagined. If the rate of trade between shitcoins/DEL is 100% predictable and calculable, if the DEL team is 100% open about what coins they are currently holding and in what quantity, and if the dumps/buy ups happen with any sort of regularity or predictability, you aren't helping to destroy shitcoins. You are creating a wealth of information that any trader worth their salt will exploit to the fullest.
My opinion is some randomness and unpredictable needs to be introduced here. The calculations included in the ANN on exchanging your alts for DEL, well maybe fine as a base, cannot be that predictable. Perhaps some way to randomize the reward for exchanging your alts. You might get 100% of the DEL you are owed based on those calculations, but that is just the average. Based on some sort of random factor, you may only get 33% of that figure, or 75%, or 140%, or 300%. Can't be sure.
And while I think the amount of DEL distributed through trading for unwanted alts should be revealed for all to see, I don't think anyone but the DEL devs should know what coins they are holding.
Dumps and buys entirely random. Maybe 3-4 dumps one week, 0 the next, 2 the next. Same patterns with the buys, random and unpredictable.
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My opinion, dev should use some of the premine to run a giveaway of say, 50k DEL. Run a few week long vote on which coins deserve to be deleted the most. Every coin is on the table. Each coin gets its own corresponding unspendable DEL address (they are the first to be deleted). Purpose of the giveaway is to allow people to vote without having to mine or buy any, in the interest of fairness. But every DEL you mine or buy gives you more votes. Every DEL you delete equals a vote. After a set time frame, the top 25-50 coins that are voted for being deleted are deemed to be the targets of DEL.
Possibly revisit this voting scheme every 2-3 months to allow new coins to enter the crosshairs, and old coins the community has changed its mind on to no longer be targets.
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