What the hell is going on. It's obvious at this point that FIREMINE/ALTSWAP/MINECO/maybe others? Are a SCAM!!! This "hack" has nothing to do with cryptostocks, altswap is just trying to rip all of us off by dumping all the shares they have to clean up the order books and abscond with the money. They even went so far as to issue 100000 more altswap shares to clear the really low buy orders out. What is more absurd is that their mineco is still listed, and being traded! All of these listings have the same owner " info@altswap.com". This is freaking absurd. Why hasn't cryptostocks come here to a) Refute claims that they are easily hacked and b) Warn traders about this OBVIOUS SCAM!?!? After seeing this thread I lost 0.12 BTC to altswap assuming they were acting in good faith. Had cryptostocks been paying any damned attention to how altswap is manipulating their system, they would have halted trading on these SCAM stocks immediately and refunded as many traders as they could out of ALTSWAP's account balance. Scammers will be scammers, but cryptostocks.com making no attempt at all to monitor and resolve this situation makes me extremely weary of their service. Could not agree with this gentleman more. Obvious firemine, mineco, and altswap are a singular scam effort at this point. These are only a few in a long-line of scam-shares that have been posted on CS. The fact that the CS admin can lead one to only one of two conclusions: 1.) Some sort of obvious kick-back in the aftermath of each scam 2.) Admin is earning so much with transaction fee's he figures, if it ain't broke (insofar as to what it earns me) why fix it? Yeah, I couldn't agree more. It brings down the integrity of the whole exchange. I have a very limited amount of stock on CS now, mostly because the quality of companies are so poor. I'll being moving out of those asap. Havelock, at least from my experience seems to quality check the companies that they exchange a little more thoroughly. |
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Great- posting this with reference to the $10 survey thread on which I posted.
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Ok, here it goes... 1) Yes, a large range of coins- moderate holdings. 2) March, 2013. 3) Yes. 4) No! 5) B- because I am a holder, not a trader or miner. I want to be a user of coins, and I want crypto to be part of broader society in it's use. Selfishness breeds distrust and short-lived success. 6) Yes, the best cryptos offer this. 7) No  I have many hopes, but trust is an issue that is the most important in crypto development. I am an artist and writer- not a coder, developer or businessman, and it pains me that I am constantly having to put trust in the intentions of faceless cryptos. I believe the best thing that a new coin can do, is be transparent with the people behind it. Hopefully this survey is a marker of good intention, rather than just the premise of something 'more'. 9) In any endevour, making an effort demonstrates a sense of caring- I read Bitcointalk all the time, and I get a sense that there are more people wanting something, than there are willing to give something. That's the wrong attitude. All I can give crypto is being an informed user and spending time learning and using the protocols, with the hope that this is something that I can pass onto my friends and family. 10) Eccentric and optimistic for sure! Intriguing. I'm not sure about the 'Big Money' goal thing, nor the future millionaires/billionaires thing- that sounds too much like a 90's self-help book. Otherwise, I'll be interested to see where this goes. |
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Hold up.
I can't understand what half of you are asking.
Nothing is decided yet. We have stock holders, and they vote.
The 5000x idea is correct. Our shareholders bought stock at 0.005 for a total of 8000 shares
The account was compromised (by us? are you crazy? how would this help us?) The other 42,000 shares sold at 0.000001 each.
0.000001 x 5000 = 0.005
So that is the correct math. Now if those stocks have since been sold for .00003 or 0.02 or 7 btc it makes no difference. We don't set stock price, the buyers and sellers set stock price. We first and foremost have to make this fair for the 8000 original shares. Everything else is secondary. We can't just delete stocks or as you said, stop the sale. That's not possible. Welcome ideas
But again, we have shareholders, they will make the decision.
Yes, well, I AM a stock holder, and what I'm saying is that it is up to Altswap to compensate shareholders for what has happened. The most straight forward thing to do would have been to put a full trade stop on shares straight after the security breach, and then for Altswap to buy back the shares that had sold in the meantime for the market price that they were sold for- covering a loss of a few BTC in order to correct the fidelity of the shares should be a given. Why this didn't happen I have no clue- you say that you couldn't have stopped trading? Why the heck not!?! Instead what you are suggesting is that it is ordinary shareholders who absorb the loss- ie anyone that bought after the incident (a great deal of those who already most likely had holding from the IPO 0.005 price). In a vacuum the 'math' as you put it is correct, but it does NOT compensate buyers who bought after the incident. You say 'We don't set stock price, the buyers and sellers set stock price.' - well actually that's EXACTLY what you are proposing to do- to reset the stock price so that a great deal of people will loose out- all of whom ARE legitimate shareholders! So here's an idea. Altswap needs to look at doing a share buyback to restore some faith in this project- not at 0.000001 but at a level in between- perhaps you can average the orderbook since the incident? This way 0.005 sellers will choose to keep hold of their shares, but later buyers can at least recoup some of their loss- Altswap will then hold a majority of shares again, and then be able re-sync the market through either a second IPO or holding onto these shares until after the site is launched. Most importantly, launch the site, show value, and the value of the shares will increase accordingly. I'm a shareholder as well and I agree with you. But seriously... Come on. Would I trade in a site which: 1) Is owned by a guy who couldn't even secure his own email 2) Launch is delayed for over a month with lame excuses and lies 3) Smells like a scam for quite a while now The answer is no. Crypto-traders is a small community and therefore the word of this will get out so this site is doomed to fail (and I will lose the 0.1 BTC I've stupidly spent on it). I agree too- I don't have a lot of faith in this thing ever getting off the ground- and most likely they are probably aware of how much they've screwed things up and are looking for the exit. It's better that these operators get called out for some of these practices though, rather than silently getting away with things. Of course they may do a brilliant job, and make a superb exchange- lord knows that a good escrow service is actually something that would be really useful. Unfortunately, the chances of that are probably about 0.000001% right now. Please, someone from Altswap come and correct me, or at the least post some notifications on the stock issue and a launch date that you are going to stick too. |
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Maybe invest in a cryptostock? Always a game of high reward with high risk though.
Petamine is trading at ฿0.075 which is a pretty good price to get in at. Hold for a month and see where you're at.
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Seconded. I don't own any of these shares, but I have been checking on when the dividend is going to be paid- not seeing any dividend payment is not helping my confidence.
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Hold up.
I can't understand what half of you are asking.
Nothing is decided yet. We have stock holders, and they vote.
The 5000x idea is correct. Our shareholders bought stock at 0.005 for a total of 8000 shares
The account was compromised (by us? are you crazy? how would this help us?) The other 42,000 shares sold at 0.000001 each.
0.000001 x 5000 = 0.005
So that is the correct math. Now if those stocks have since been sold for .00003 or 0.02 or 7 btc it makes no difference. We don't set stock price, the buyers and sellers set stock price. We first and foremost have to make this fair for the 8000 original shares. Everything else is secondary. We can't just delete stocks or as you said, stop the sale. That's not possible. Welcome ideas
But again, we have shareholders, they will make the decision.
Yes, well, I AM a stock holder, and what I'm saying is that it is up to Altswap to compensate shareholders for what has happened. The most straight forward thing to do would have been to put a full trade stop on shares straight after the security breach, and then for Altswap to buy back the shares that had sold in the meantime for the market price that they were sold for- covering a loss of a few BTC in order to correct the fidelity of the shares should be a given. Why this didn't happen I have no clue- you say that you couldn't have stopped trading? Why the heck not!?! Instead what you are suggesting is that it is ordinary shareholders who absorb the loss- ie anyone that bought after the incident (a great deal of those who already most likely had holding from the IPO 0.005 price). In a vacuum the 'math' as you put it is correct, but it does NOT compensate buyers who bought after the incident. You say 'We don't set stock price, the buyers and sellers set stock price.' - well actually that's EXACTLY what you are proposing to do- to reset the stock price so that a great deal of people will loose out- all of whom ARE legitimate shareholders! So here's an idea. Altswap needs to look at doing a share buyback to restore some faith in this project- not at 0.000001 but at a level in between- perhaps you can average the orderbook since the incident? This way 0.005 sellers will choose to keep hold of their shares, but later buyers can at least recoup some of their loss- Altswap will then hold a majority of shares again, and then be able re-sync the market through either a second IPO or holding onto these shares until after the site is launched. Most importantly, launch the site, show value, and the value of the shares will increase accordingly. |
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All shares will be reissued.
Basically 8000 shares were sold at 0.005btc ea.
42000 shares were sold (due to hack) at 0.000001btc ea.
Therefore since the shares at the correct price were 5000x that of those at the lowest price, all shares purchased at 0.005 will be given an additional 5000 shares per 1 owned.
The price of stock is determined by buyer demand so yes, those are safe to buy however, with 40.000,000 shares coming aboard, everything is a little wacky and unless you see them at a great deal, I'd steer clear.
This is just madness! Why not put a trade stop on the stock if this was the plan? What about those who have bought in the last few days below 0.005 but well above 0.000001! |
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The whole orderbook is being manipulated by one bot trying to bring the price down, it's starting to get annoying
What's even more annoying is that I don't have anymore funds to buy, and I can't for the life of me understand why no one else is buying these up? I mean ffs, it's at 30% yeild and we are not even 1/10th of the way there. How one person is being able to do this without even one other person buying up is overwhelming to my what the fuck is going on sense...
Any proof of the "bot"? imho, I see almost 2000btc less, meaning someone considered 2xIPO price was good enough for them. Then, about low price, I may agree that I would buy more. But this is already what I'm doing. I've already invested all I had and wouldn't go the extra mile and sell a kidney to buy more shares... All the orders were disappearing and reappearing at the same time, the only difference was a slight lowering of the price each time Agreed- lots of manipulation in price going on today. Bots with disappearing orders. It's not like the price is staying down when it hits .07 or so- it's being bought up quickly and rebounding. Silly to sell at anything below .09 imo. |
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Indeed- what is happening? The owners need to launch the site asap to get some confidence back in this stock. Too many shady ipo's right now in crypto- the only proof of legitimacy is actually having a working model.
It's a shame if this doesn't get of the ground, because the escrow service is something that would really work well- a great domain name for that purpose too.
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I just wanted to say how amazing this project is- I'm fascinated to see how things turn out, and at what point you'll get that house....and you WILL get that house!
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you forgot to add:
after a few announcments of new announments they finally managed to solve it themselves and continue.
but we have to understand that we are only allowed to withdraw 1btc/day because of the risk they take beeing the biggest exchange and permanently attacked.
Funnily enough, that's kind of what I see happening. Very small withdrawal limits- the new verification for BTC will slow the withdrawals down too. Short term I see them surviving, but long-term they seem shot in terms of retaining a customer base. |
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Of course this is possible- but the reason that the price ratio is so low is because the sentiment is leaning heavily against people being able to freely withdraw again.
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DDgkjpWYRg8HUN8WUmCYCVs4CkN2nAjwJR
Thank you! Go DGC!
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LOL. How is anyone angry at this clearly fake tweet? We've all been annoyed at transaction speed being too slow at cryptsy at times - it doesn't mean that we don't appreciate what it has done for the alt-coin (and bitcoin) trading volumes.
I want Bitcoins and Altcoins to be here in the future, I believe there is a whole new financial market opening here for people to embrace. With crap like this coming out - it makes the community look bad, which means investors and professionals wont take it seriously at all, it also takes away from the integrity of announcements made by other developers. I agree. There's times when I imagine all the posters sitting around at a bar, and then I look up to realize that half of them are still at high school, sipping at sodas and throwing peanuts. There's such a childish sense of passive bullying that goes on- like names being called across the playground. In no other profession would defaming people be tolerated as much as it is in this 'industry'. If we want Bitcoin and the crypto world to succeed we need to have respect for one another, because from the outside looking in, it can sometimes seem akin to Lord of the Flies. |
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look for the underdogs, a promising coin that everyone hates or no one gives a shit about. that coin will make u rich
Best advice I have seen on these forums when it comes to investing. The Hyped coins will never make you rich, will make you profits sure but not rich. I know which horse I am backing and no one is even taking notice. I like WDC in that sense. Still has a very low price, great development and community, but doesn't necessarily have the sexiness or 'newness' of some of the recent alt's. Just like stocks, you should aim to buy low- the un-hyped is where you should be looking. |
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Current post count: 97
1EtzikEwfy4QoW5goNyiX6N9us5rSKgrX3
Thanks for running this sig program!
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A varied portfolio is good. I am hoping that BTC experiences another run, perhaps nearer to the end of 2014 which sees it at around 5k- if money come through via wider adoption, wall street, the W brothers' EFT etc. If this does happen there is sure to be fairly dramatic increases in the price of alts, as per the last price jump ie LTC, NMC, PPC, which gained some fairly crazy percentages. I would be that there are a whole other tier of alts which could now achieve something similar. WDC, DGC, DVC, NXT, are all in positions to achieve some huge percentage gains. Even if BTC doesn't achieve that kind of gain, miners will be cycling through an increasingly larger pool of alts, and whereas BTC may stay stable, those alts will experience large increases.
I am betting on alts with longevity, good development, and even good institutional connections- I thought this about LTC (and NMC to a lesser extent) prior to the large jump from $3ish and that paid off well. It still has upside perhaps to around $100- but from there it becomes anyone's guess- and wider adoption matters more imo.
Your strategy of playing the entire field should pay off, perhaps better than mine, but the field has become so large that it's tougher than ever to keep pace with. The hardest part, as always with stocks etc, is working out when to sell. I am a proponent of taking the long view- day trading, or selling too soon can lead to missing out on certain opportunities, and can place too much emotional investment on things. If you are taking a long-view in years, then I think that you'll come out on top no matter what happens. 100 times? Maybe!
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Received a payment- thank you  |
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1EtzikEwfy4QoW5goNyiX6N9us5rSKgrX3
Thank you!!
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