Beware of NINJA Launches | What is a NINJA Launch

[Zetacoin Express]

This thread serves as a simple warning to all to avoid them (or to be careful).  NINJA launches are just another name for ponzi scheme.

Known NINJA Launches

https://bitcointalk.org/index.php?topic=1089166
https://bitcointalk.org/index.php?topic=1061074
https://bitcointalk.org/index.php?topic=1066687
https://bitcointalk.org/index.php?topic=1066128
https://bitcointalk.org/index.php?topic=1083861
https://bitcointalk.org/index.php?topic=1079583
https://bitcointalk.org/index.php?topic=1098544
https://bitcointalk.org/index.php?topic=1102999
https://bitcointalk.org/index.php?topic=1079616

What is a 'NINJA launch'
Thanks to @JobCreator for posting this.

It is when a new coin with pretty icons, graphics, and a slick looking wallet is all of a sudden announced without any prior notice.  Everyone rushes to setup pools and insta-mine it.  These coins usually tend to be PoS coins with a very short initial PoW minting period.  The wallets also tend to be buggy.

After a few hours of mining, PoS kicks in, PoW ends, the 'developer' give a sense of commitment, a strong following emerges.  Within a few days the coin gets added to exchanges, promises start being made, believers start believing it's the next big thing, wallets gets updated, roadmaps, hard forks, etc..  

Once on an exchange the price starts rising, greed begins to emerge, miners start selling off.  The price takes small dip due to the initial unloading by miners who need to pay for the rented hash/asicis.  But soon it starts to rise higher as the 'sheep' start getting fooled into buying. Holders start staking and unloading on to these poor souls.

Finally the so called 'developer' dumps his bag and moves on to the next scheme.  Within a few days, the 'developer' disappears and the coin gets de-listed from the exchanges.  The hopes and dreams of the sheep are crushed.

Early adopters with powerful ASIC's or lots of BTC to rent hash power have the most to gain, second only to the 'developer' (this really needs a better name).

100% of the time there is one 'developer' (better named in this case a ponzi) who spends a few weeks cloning a few coins, then releases them one after another in a series of "NINJA" launches.  Rinse, repeat.  This person, having access to the source either creates a prime, or insta-mines several blocks moments prior to and after release.

The threads posted are a great example of what such a scheme looks like from start to end.

Also A Funny Video to go along, thanks to @TimC
https://www.youtube.com/watch?v=cIasr2AiyZ0

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[solid12345]

Beware of anything Zetacoin, ConspiracyChef, Konen, BitcoinSachs, Internet Kiosk and Bryce Weiner related too while we're at it.

[Zetacoin Express]

Beware of anything Zetacoin, ConspiracyChef, Konen, BitcoinSachs, Internet Kiosk and Bryce Weiner related too while we're at it.

Zetacoin was not created by any of those people.

Anyway..Do not Spam this thread.

Post your claims for or against Zetacoin here:
https://bitcointalk.org/index.php?topic=1088776.0

And try to be constructive.

[solid12345]

Anyway..Do not Spam this thread.

So says the guy who posted THREE topics about Zetacoin in the Alt discussion.

[JobCreator]

For those who don't know what a 'NINJA launch' is:

It is when a new coin with pretty icons, graphics, and a slick looking wallet is all of a sudden announced without any prior notice.  Everyone rushes to setup pools and insta-mine it.  These coins usually tend to be PoS coins with a very short initial PoW minting period.  The wallets also tend to be buggy.

After a few hours of mining, PoS kicks in, PoW ends, the 'developer' give a sense of commitment, a strong following emerges.  Within a few days the coin gets added to exchanges, promises start being made, believers start believing it's the next big thing, wallets gets updated, roadmaps, hard forks, etc..  

Once on an exchange the price starts rising, greed begins to emerge, miners start selling off.  The price takes small dip due to the initial unloading by miners who need to pay for the rented hash/asicis.  But soon it starts to rise higher as the 'sheep' start getting fooled into buying. Holders start staking and unloading on to these poor souls.

Finally the so called 'developer' dumps his bag and moves on to the next scheme.  Within a few days, the 'developer' disappears and the coin gets de-listed from the exchanges.  The hopes and dreams of the sheep are crushed.

It's quite an entertaining spectacle.  The threads posted are a great example of what such a scheme looks like from start to end.

Early adopters with powerful ASIC's or lots of BTC to rent hash power have the most to gain, second only to the 'developer' (this really needs a better name).

100% of the time there is one 'developer' (better named in this case a ponzi) who spends a few weeks cloning a few coins, then releases them one after another in a series of "NINJA" launches.  Rinse, repeat.  This person, having access to the source either creates a prime, or insta-mines several blocks moments prior to and after release.

[JobCreator]

So says the guy who posted THREE topics about Zetacoin in the Alt discussion.

Beware of anything Zetacoin, ConspiracyChef, Konen, BitcoinSachs, Internet Kiosk and Bryce Weiner related too while we're at it.

Dude, we get it.  You hate Zetacoin and pretty much every altcoin.  Zetacoin Express has at least created dedicated topics, your just spamming your anti-zetacoin rhetoric all over the place.

[ioncanon]

lets create Ghost Launches 

[solid12345]

Dude, we get it.  You hate Zetacoin and pretty much every altcoin.  Zetacoin Express has at least created dedicated topics, your just spamming your anti-zetacoin rhetoric all over the place.

I hate every altcoin? I tend to ONLY post about altcoins!  But thanks for making shit up on the spot.  

[Zetacoin Express]

For those who don't know what a 'NINJA launch' is...

Thank you for this.  I will copy it to the OP.

[Hoganye]

Dude, we get it.  You hate Zetacoin and pretty much every altcoin.  Zetacoin Express has at least created dedicated topics, your just spamming your anti-zetacoin rhetoric all over the place.

I hate every altcoin? I tend to ONLY post about altcoins!  But thanks for making shit up on the spot.  

Its a hyperbole post. Common from anonymous trolls and FUDers.

[clipman77]

We must be careful with this coin, I see a lot of confidence to it.

[JobCreator]

Apparently there is a new twist

Most of these NINJA launches had something extra to them:
https://gist.githubusercontent.com/Earlz/41c5c18113210d3c36f9/raw/4d14022e3c75a6a10c653bd98831fd3bbded79a1/gistfile1.txt

[NorrisK]

Apparently there is a new twist

Most of these NINJA launches had something extra to them:
https://gist.githubusercontent.com/Earlz/41c5c18113210d3c36f9/raw/4d14022e3c75a6a10c653bd98831fd3bbded79a1/gistfile1.txt

I can only read about three coins that have the specified problem.. How is that most NINJA launches?

[benthach]

it's just sad all these scams going rampages

[X68N]

hahah some are too funny to taken serious, i mean you can tell of the name that its a copycoin or unserious.

But what i guess makes them convincing to noobs are the pretty graphics made by a graphic designer.

greetings