Nothing wrong with this idea of having some regulation in the altcoin world to protect newbies and investors.

Just like what governments already do.  Control the influx of new shitcoins.  Make a higher bar for them to enter through application fees.  And create an organization to enforce (kill off) coins that do not comply using those funds.

I don't understand why that's so hard to grasp.

It's not extortion.

At least I'm advocating for an application process with a fee.

No different than what state governments do today for registering a real company.

The funds collected through fees are used to enforce the process.

It works through government today for real businesses, there's no reason why it wouldn't work here.

Yes a certainy amount of responsibility must be taken by the body conducting this process.  So that they don't embezzel funds.   But I'm sure we can make that work.

Exactly, what we're reallying trying to do is have the few powerful folks help the rest of the weak masses by stepping up to define regulation, and create processes to protect them. 

We are getting close to getting operational, Pools being setup and other various attack vectors.

Soon we will be in a position to take applications and fees from coin developers who are legit and do not want to be attacked!

Probably need to put up a website and application process / quiestionarie and Attack list at this point.

Look r3wt, bcex and the original OP has way more credibility than you do.  I don't think he represents everyone, but obviously these guys know a lot more than you do.  They've been around longer.

If people don't like me using the word "we" then that's fine, I can abstrain from using it. 

But, honestly, I've just been summarizing the ideas that have circulated in this thread.  I wish i can claim these ideas as my own , but they are not.

I'm not an expert in forking coins, and honestly I don't know which cyber attacks are considered a crime in which country.  I'm just relying on the input of the pros', as should you.

If you don't want to join the revolution that's fine by me.  But please stop attacking me and detracting from the real issues.

It was already been established by r3wt that , what we are trying to do is nothing illegal.  Just reread the thread.  

If you don't want anything to do with this revolution, then I suggest you just GTFO.

Most of the senior members are united on the point of utterly killing and destroying coins, by whatever means necessary.  BCEX himself is the one who suggested DDOS attacks against pools so we can take control of hash power.  So I'm not exactly sure why you are turning this on me.

If you don't understand anything about taking down coins, please stop speaking.




Resorting to childish personal attacks now.  What a great way to make your case scammer.

Wow way to sell me out bro.  I'm confused, are you with us or against us exactly?

I never claimed to represent everyone in this thread. 

I'm just trying to get this thing started instead of farting around like the rest of you. 

We need a practical path forward.  We need to take down a coin now as an example, instead of just talking around in circles. 

Then enforce a process by which others will follow and submit to.  And something that is sustainable.

Look i don't know anything about that; that is getting way off topic.

It's simple guys:
  - we need to regain control of an out of control system where people are being scammed  
  - we need a committee to judge who to enfroce and how to crack down on people not following the rules.
  - we need enforcement to make examples out of people, and to instill fear.
  - we need funds to be able to enforce
  - we need revolutionaries to support the effort.

This is a revolution.  Any counter revolutionaries will have to be dealt with one way or another.

I really wish we did not have to resort to those tactics.

But I'm sure that 99% of the time we won't have to.

We just need the threat of violence to keep people in line.

Once we destroy a few projects/coins/people.  The rest will fall in line automatically.

Actually , it's a known fact that Apple regulates junk apps on their app store, and there is a fee to register for publishing apps.

Let's face it guys, things are spiralling out of control fast.  We need regulation.  What better way than to self regulate with senior community members.  

We just need to enable them with the funds and resources to succeed in enforcing their will.

We as in the people that support this initiative.

We can't be niave about it though; like BCX was saying, we need to attack

Without threat and enforcement, this initiative would just be a useless rubber stamp.

And without funds, it's going to be difficult to enforce.  Precisely why the government require tax funds to enforce.

Who appointed us to be judge and jury?  It seems the people have, the majority of the community who agree with this revolution.

Viva la Revolution!

This is just like starting a real business.  You do need to get licenses and file for LLC sometimes.  That costs money.  It keeps the noise out.  For anyone not willing to put their money where their mouth with.  Then they don't deserve to be starting a coin/business anyhow.  I'm sure the more serious people will find a way to put up the money.  Which is exactly the effect we want.

If people don't follow the rules, then it's time to come down hard on them.. multi pool attack, DDOS, and even hacking their sites.

Just to be clear 20 BTC doesn't okay a scam, it's just an application fee.  A barrier of entry. 

If it turns out to be a scam, we keep the 20 BTC, and we destroy the coin.

This just incentivizes the altcoin devs not to scam.

To be fair, we could probably have this committee determine how much payment each altcoin must make to the Operation funds.

If a coin seems to have some legitimate innovation, which we decided is good for the crypto community, perhaps we waive the fee.

If a coin is borderline, we charge some fee like 10 BTC.  

If the coin seems like a scam, then we charge double, like 20 BTC.

If any coin does not comply with the application/audit and payment process, they are instantly targeted and destroyed via BCX's methods.  

We would need to put together a team of DDOS, multi pool operators, and volunteer hackers to enforce the mandate.

It'll be no small feat, and will require some organization, obviously.

Hi think solid has a good point.

Really, no alt coin should have retroactive exemption status.  All of them should comply with an audit/application process.

I think we're just saying that realistically we're not going to be able to attack DOGECoin or Litecoin at present.  Their network hash rates are too high.  So we'll just have to let the big fishes get away with it, for now.

However, the newer coins that are just getting started: we can start using them to fund this effort, through taxation and auditing.  If they do not pay up, they die.

There's already a list of scam coins on the original post!

As kelsey says, we're just trying to clean up, and protect newbies.

We need to start moving into action.  Send a message out to AURCoin, HKC and others like them we need them to apply to become a legit coin, and the application fee is 10 BTC!  They need to start putting money with their mouth is, instead just being able to scam people.  

Get a taste of their own medicine!  Time to dispense some justice!

Unfortunately not going anywhere yet.  Hopefully we can change that with the application/fees idea.

We need to be profit driven to some extent: otherwise donating hash power to this effort is not going to last long out of charity or annoyance.

Thus the only way to make this last is to impose fees on new and existing altcoin creators.  Once the BTC start flowing into our virtual coffers, only then will this initiative really take off with our hash rates.

Need to start by first sending a message to one of the altcoin vendors on the list to demand a fee and application.  If that does not work, we will need to be prepared to throw some speculative hashes at it, to pound them until they give in.  That in itself is a risk we'll all have to take, but it will pay off for us once the BTC comes our way.

Not sure why you think I'm not being serious.. I think this is a very serious initiative that we're trying to pull together.

Either help or get out of the way!

Nope, I've just been watching from the sidelines, till I saw such a good idea to post a response to.

I would like to be of a help, perhaps I can start the fund to collect fees and applications from altcoin developers.  Let me draft something up so that we can start sending people the message:

Perhaps we can start with something like AUR coin.  Contact them about giving us 10 BTC , fill out an application.  If they do not, we set our attack dogs onto them, fork them into oblivion.  

In the application process we can force them to give us their real name, contact information, real home address, LLC registration (if applicable), and other sort of personal information.  And if anything goes wrong, we can go after them in the real world as well.  I'm sure we can deploy our own members across the world that are ready to knock at their doors.

I think most devs would be fearful for it, and the rest of the sheep will follow suit and pay up.  Let us impose some law and order ourselves onto the altcoin community!

Hang on a sec.

If that's the definition of extortion, then the government has been extorting us since forever.  The SEC and organizations protect investors and people from being hurt by unscrupulous individuals.  Of course there's going to be a cost.

There's a fine line between extortion and public service.  This effort isn't just being launched by a bunch of noobs.  From what I can tell, we've got a group of standup senior members/hero members who would be organizing it.  I find it hard to believe that they would turn this into something that resembles extortion.  I don't think they would be putting up this effort if they are only in it for themselves.

Anyways, at the end of the day the key people that get hurt are scammy altcoin devs anyways.  So what if they lose some money and we take them, they're making much more in other ways I'm sure.

I would fully support this group taxing the entire altcoin community some amount so that we can maintain order.