This thread is for open discussion on how you can have your very own shitcoin scam by using these tried and true techniques.
We'll be using Darkcoin/Dash as the main example since they pioneered many of the deceptive scam techniques discussed in the following steps!
Maybe you need to recoup some losses from a bad crypto investment? Maybe you just want to improve your life circumstances? Use the following techniques and start making BTC today!
How to launch a shitcoin scam in just 6 easy steps!Step 1. Mislead as many people as possible about the launch time. Like so:
Ok now it insta crashes when I type "setgenerate true".
Time to go to bed and try again next week?
Yeah, let's do that. I obviously need to do some more testing. Thanks everyone!
Best thing to do I guess. Please, confirm you won't be launching after some minutes/hours even if you fix it, and the sooner would be tomorrow, thanks.
Definitely not. I'll also follow up with this post when I do set a time.
"Definitely not."
We all know he went on to launch it a couple of hours later, despite his confirmation that he'd wait until the next day at the earliest. Bravo Evan, you're a class act. The pinnacle of integrity and professionalism!
TIP: Don't announce any features in your ANN at launch time. Withhold any plans you have for your coin. It should look as generic a shitcoin as possible in order to eliminate even more competition during our instamine period! Make sure you call the coin something really stupid and generic like "Xcoin", we will change the name several times later on.
The more successful you are with Step 1, the more it will help your instamine in Step 2!
Step 2. INSTAMINE! INSTAMINE! INSTAMINE!
Time to instamine your coin! eduffield sets another fine example here with his Linux-only release. This ensures an optimal instamine period without any pesky windows miners getting in the way of it. Eduffield set the bar very high, he managed to instamine 1.5 million coins in just the first
8 hours of launch!
The best part about this technique is that we can get many more coins than a premine and it won't be displayed on Coinmarketcap as being 'significantly premined'! Taking into account the 5.7 million DASH in current supply,
26.31% of coins in circulation were scam instamined in 8 hours. See if you can beat his record!
It's also important to ignore questions about the huge instamine for as long as possible. Deny it ever happened. Viciously attack anyone who posts irrefutable proof of the massive instamine scam. Try to discredit them. Call them trolls and put their names on "troll lists."
***Bonus points if you advertise "No premine" in your ANN title like Evan has done here (despite the massive 1.5 million instamine in the first
8 hours of launch). Did i mention the integrity and professionalism?
Step 3. Lower the total supply and cut the mining rewards drastically once you're done instamining. This is a no-brainer!
-Lower the supply of coins that can ever exist from 80 million to 20 million.
-Cut the mining reward from 500 coins per block to 5 coins per block.
No one will notice. If they do, we'll just call them trolls, try to discredit them and put them on "troll lists" (see Step 2)
We'll also take this opportunity to make exaggerated claims to make the ANN sound better (now that we're done instamining):
- Take 11 existing hash functions, chain them together. Call it "X11" and say you invented it.
- Take CoinJoin's work, implement it in a HYIP masternode scheme. Call it "Darksend" and say you invented it.
Have a look at the innovation found in the X11 algorithm. Absolutely breathtaking!
Chaincoin 11 hash (Blake, BMW, Grøstl, JH, Keccak, Skein, Luffa, Cubehash, SHAvite, SIMD, Echo)
XCoin (Darkcoin, Dash) 11 hash (Blake, BMW, Grøstl, Skein, JH, Keccak, Luffa, Cubehash, SHAvite, SIMD, Echo)
Step 4. When your fraudulent instamine gets noticed, start a "Vote" to airdrop an
additional 2 million coins (created out of thin air by eduffield) to balance out the fraudulent instamine. Stop the vote early when a few of the other insider instamine scammers complain!
Step 5. When people start rebelling against the scam, no problem. Just change your name! Then change it again!
Step 6. Release yet another gimmick that takes coins from miners and puts them in your pockets. Call them "Superblocks" because it sounds cool. Make sure to call it "decentralized voting" even though 1 person/entity controls over 50% of all masternodes and thus 50% of the vote! Ignore this fact. Call this income stream/dev tax a "feature" and use it to distract from not delivering on your "masternode blinding" feature you announced previously. Don't mention this failure. Ignore any questions about it and just hope people stop asking.
