Piece of Shit Bitcoiners et al. Hall of Fame

[TPTB_need_war]

So to make it clear. The likelihood that the float of Dash is significantly owned by those in the instamine and who likely owned masternodes hence thus maintaining their share of the coin supply is what in your estimation?

[1715048461]

1715048461

[1715048461]

1715048461

[AlexGR]

So to make it clear. The likelihood that the float of Dash is significantly owned by those in the instamine and who likely owned masternodes hence thus maintaining their share of the coin supply is what in your estimation?

Very low. In my estimation Evan should be from around 100k to 400k tops - as he was just one of the two "partners" and Hagan / internetape has already sold much or all of his stash in the lower price ranges.

Evan probably had to face some serious losses as well:

a) the ccex hack (feb '14 - about 300 btc were stolen and moved out of the exchange by taking the darkcoins, moving them to poloniex and dumping them there for btcs)
b) the official pool hack, where he had to pay miners from his money and close the pool - I have no idea about how large a hit he took.
c) mintpal scam (I think Evan held quite a lot of DRKs @mintpal - probably in the five digits)
d) cryptsy "hack" (no idea if he held any serious amount over there after the first three rounds of losses)

Masternode rewards came online much later, when coin supply wasn't at 2mn, but more like 4.5mn+ and that was the low reward-scheme... like 10% or something because it was planned to gradually escalate in terms of pow/pos balance... I think the 50-50 reward was coded to be reached in small increments by q3 or q4 '15... yet by that time coins had reached 6mn. So from the instamine till then, another 4mn coins had been added to the supply, mainly by PoW....

So on one hand you have large scale redistribution of the first 2mn coins (I know of whales that bought large packages like 20-40-100k DRKs for peanuts, back in the 0.00002 - 0.0005 range, and were even buying the ccex hacked DRKs dumps over at poloniex, down at 0.0008 or something). Then price stabilized around 0.0015 and there was like 2-3 months of constant reshuffling because the dumps were definitely much much more than the daily coin production. The thread was like "oh fuck this price suppression, fuck the dumpers" etc etc. Kind of like for two months. So redistribution was ongoing. People though, back in feb-march of '14 thought that if they managed to sell at something like 0.002 they'd be kings... imagine when large whales started acquiring up to 0.025+ - and every single dumper lost their coins - most lost them at the first huge resistance levels which were at 0.003-0.005 where massive dumping occurred, yet the pump sucked everything out of them and continued up to stratospheric heights.

All these things reshuffled the distribution so much that most darkcoiners understood that the instamine is a non-issue. And then we had even further redistribution by the mintpal and cryptsy stored coins which were lost. Between them they must have held like 800k in their wallets, although Mintpal allowed some withdrawals for some time. The Moolah scammer probably dumped hundreds of thousands down to a price 0.0025 or something - the downward spikes from his massive dumps were shocking.

Cryptsy must have used their DRK cold wallet to dump DRKs in order to acquire BTC and LTC to pay for such withdrawals (as they claim their BTC/LTC wallets were hacked - DRK wasn't). And when people understood that it was cryptsy's DRK being sold to suppress the price, and when cryptsy run out of DRKs to dump and had to admit their BTC/LTC "hack", investors where like "ah, so that was why price was down for so long... so who is going to dump now? nobody" => hence the price spiked upwards from 0.005 to 0.017 where we are today.

[YourMother]

"Yes, Your Honor, I did it!"



"SO FUCKING WHAT?"

- Evan Duffy, the Masternode Slayer

[bigs21024]

wow great list thanks

[TPTB_need_war]

Days let's posit that your point about slow development of Monero had some validity (really I don't dig into Monero source code so I don't know), I have some reactions:

1. Could you please go post that in a thread about Monero, not in the Dash thread. Motivation/motive of Monero supporters (and myself who does not own a Moneroj) is not a factual answer to concerns about Dash.

2. The concern we've expressed about the Dash distribution is that it unfairly skews the control over the float and the profit from the coin to a smaller group. If you are implying this corrupt financial structure enables Dash to have more funds to develop their coin faster, my reaction is the technology of Dash isn't even at the level of a high school junior programmer. Don't forget I found a high school level probability math error in the InstantX white paper a year after it was released. Who the hell is doing your peer review? The anonymity is not end-to-end principled (a foundational principle of correct network protocol design), is horrendously slow, is not autonomous, and the masternodes could violate anonymity of users.

[TPTB_need_war]

So to make it clear. The likelihood that the float of Dash is significantly owned by those in the instamine and who likely owned masternodes hence thus maintaining their share of the coin supply is what in your estimation?

Very low. In my estimation Evan should be from around 100k to 400k tops - as he was just one of the two "partners" and Hagan / internetape has already sold much or all of his stash in the lower price ranges.

Please account for 1.9 million instamined. I know someone who attempted to mine during that sham and only was able to get 500 (i.e. 0.005 million) DRK.

So you are claiming they did not sell into the pump, thus they could not have possibly offloaded 1.5 million DRK into the free market so I assume they could ONLY have sold them to other whales in bulk.

Evan probably had to face some serious losses as well:

Wild speculation.

Masternode rewards came online much later, when coin supply wasn't at 2mn, but more like 4.5mn+ and that was the low reward-scheme... like 10% or something because it was planned to gradually escalate in terms of pow/pos balance... I think the 50-50 reward was coded to be reached in small increments by q3 or q4 '15... yet by that time coins had reached 6mn. So from the instamine till then, another 4mn coins had been added to the supply, mainly by PoW....

What was the hash difficulty during this 2.5mm mined before masternodes were created? I would presume that insiders used the resources they gained from the instamine to rent massive cloud resources to mine out a majority of that 2.5mm. That isn't a wild speculation, because it is the rational thing for them to do so no one can compete with them when selling on a pump given they already control the coin and they have no intention of wide distribution and wide adoption, because for one thing they are not technically capable of it.

So on one hand you have large scale redistribution of the first 2mn coins (I know of whales that bought large packages like 20-40-100k DRKs for peanuts, back in the 0.00002 - 0.0005 range, and were even buying the ccex hacked DRKs dumps over at poloniex, down at 0.0008 or something).

So we are confirming that insiders were hoarding DRK.

The problem is there was never a wide interest in holding DRK and adopting it for use. That has always and will always be the problem.

All these things reshuffled the distribution so much that most darkcoiners understood that the instamine is a non-issue

A redistribution to whales is not a non-issue. It is precisely the death of the free market for the float and the wide adoption needed to drive network effects.

[AlexGR]

I shared my non-inside view of the situation, as best as I understand it. I do not claim it is factually 100% accurate, or that it doesn't involve speculation on my part on what the coin devs mined, on what exchanges did, on what hackers took and what whales bought. Obviously, I can not account for all the initial coins and who mined what and what they did with it later.

I do know that, unlike what you currently think, most people weren't waiting for when the coin will reach 0.025. This was not on the horizon. Prices like 0.000025 where was the coin was traded for ~15 days or so. And prices like 0.001x was what the coin was trading for a couple months after that.

[rizkyhiw]

i dont know if i must be happy because there is a list about it, i mean a list with know people on with we should never believe or sad because there is a list related to bitcoin scams, that for sure will be increased with time...btw good job with that list.

i feel same with you,even i'm immpressed that op have listing so many scammers here,its dont mean we can avoid from scam site or people. but the main poitn is we can know so many scammers here,and i wish op would add some others scammer on list.

[Gleb Gamow]

no.

i left because i disagree darkcoin or however it will be called next year is not a decentralized entity. it never was but i ignored it as long as darkcoin was following the same path i was following. the path to total financial privacy. and thats why i am so upset about how this currency is lead by a single person. darkcoin is like an old conservative company with strong hierarchical comamnd structures and a single person on the top of the pyramid. evan duffield. the rebranding using a detergent name was just a step forward in creating something like apple or paypal. fuck this i tell you. what we need is a trustless, decentralized and anonymous currency. darkcoin is not decentralized as it still relies on a single person. and this reaches deep into the code base.

the core devs were just a bunch of volunteers exploited for the big thing. the extended darkcoin team was the same with even a lower place to sit on that pyramid. and what was the darkcoin foundation again? right, something to reserve some rights on some names and collect money. who nominated and voted for the foundation board? who does even know who are these guys? how did we learn about the foundation? from local news papers! the team listings kept counting names of people nobody ever noticed before. and they never committed anything visible to the community or the repository. and i was spending 25 hours a day monitory everything that happened in the darkcoin community for more than a year. the things going on here are fishy, intransparent and rely on a single entity.

i will get out and and will contribute to something decentralized and anonymous. i always hoped darkcoin could fill that void. i cant blame anyone to stay with this project. you are probably investors trying to win a gold donkey. or you are simply trying to exploit every possible vector of profit in the coins space. whatever. you are not here because darkcoin is something it claims to be.

if you disagree with my statement above, i dont care, but answer that simple question: what if evan duffield suddenly announces he quits the project tomorrow morning?

good luck

Wow.  Vertoe unmasked as Kyle Hagen is one damn fine plot twist!

Vertoe's account wasn't hacked, he put it up for sale, and from Vertoe's Github entry I guess it's been sold now.  Start at coins101's post about donschoe.

And you know this, because?  

Because I've done some checking.  donschoe=Vertoe.

For posterity:

Selling two hero accounts.

account 1: 550+ posts, 550+ activity, hero member, registered 2011, mixed reputation. 0.65BTC
account 2: 850+ posts, 500+ activity, hero member, registered 2014, 50+ positive reputation, no negative ratings. 0.95BTC


PM only.

Evan Duffield (Darkcoin) should be awarded the Proof of Honor 2014.

<snip>

There is copyright, stating that this was developed by evan duffield and the darkcoin developers. But it's released open source under MIT license to build trust. Nobody wants a crypto built on proprietary shit.

bump.

what's the next altcoin that'll reach 5 USD?

post now, bump thread next december. 

darkcoin for sure

Darkcoin released InstantX to main network. https://darkcointalk.org/threads/v0-11-1-instantx-release.3923/

When are we ready?

Reads to me like Kyle Hagen's an outsider looking in oppose to being an 'in'.

[dEBRUYNE]

Vertoe ≠ Kyle Hagan. Kyle's name is on the email sent out in November 2013 and he is one of the original founders.

[Gleb Gamow]

Vertoe ≠ Kyle Hagan. Kyle's name is on the email sent out in November 2013 and he is one of the original founders.

Looks like I may have made a mistake, mistaken "i left because i disagree darkcoin..." for something that Kyle had written for his reasons for ending his partnership with Evan.

[Indianacoin]

How can you forget altoid?
He must be first among the list.

Now rotting in jail for lifetime.

[TPTB_need_war]

Dash apparently continues to deny transparent disclosure:

More deceptive and misleading statements about the instamine that Dash continues to use to scam investors even now, this time an in "Official Communication".

https://dashpay.atlassian.net/wiki/display/OC/Dash+Instamine+Issue+Clarification

Repeats many of the unsupportable or false claims mentioned in the OP from the old Darkcoin FAQ such as coins being redistributed, the nature of the distribution, and where and how large holders obtained their coins. Omits critical information about key events surrounding the instamine such as the early launch and the deliberate withholding of development plans until after the instamine was complete.

Also mischaracterizes the origin of the instamine coins as being the Litecoin difficulty adjustment algorithm which is absolutely false. Most of the "extra coins" came from the absurdly-high block rewards due to a "bug" (500 coins/block IIRC, roughly 285 times higher than now). If Dash had constant block rewards as did Litecoin (for four years), its instamine would have been very small, as Litecoin's was (in fact even smaller, since the Dash had a difficulty adjustments at 4x the frequency of Litecoin).

3. Once the issue was recognized, the founder of the coin issued a fix within a few hours to adjust the difficulty more quickly than the algorithm included in the Litecoin code.

Appears they've just incriminated themselves, by admitting they didn't immediately halt the mining by informing the public and declaring a fork with a restart was forthcoming, but instead let the instamine run on for several hours.

4. The only two members of the development team at the time were Evan Duffield and InternetApe. InternetApe sold all his coins early on, and is no longer involved with the project. All other members of the current team joined later. InternetApe was able to accumulate 160K DASH over the first weeks of the project so that should provide an idea of the range a founding member was able to accumulate. So the launch issues and high rewards happened to everyone equally and there was no bad intention, just part of a young hobby project that later became a much more serious project.

How can Evan know that Kyle Hagan sold all his DRK unless Evan was controlling Kyle's mining equipment. Notice how Evan refused to disclose how many DRK he mined. He also doesn't disclose who Kyle sold his DRK to and for what price.

[TPTB_need_war]

And unfortunately Indiegogo hasn't replied further and appears to be doing nothing about this. More people have been allowed to contribute to the campaign since I reported the Prohibited Perks to Indiegogo.

Indiegogo is now knowingly facilitating this investment fraud.

So many days have transpired and Indiegogo has not stopped this campaign which continues to receive new contributions which are ostensibly being offered rimbit tokens in exchange:

https://www.indiegogo.com/projects/a-better-bitcoin-will-you-wait-till-its-to-late/x/13712033#/funders

The last response I had from Rimbit was dated April 3:

Brian Sunday at 08:19
Hi Shelby,

Thank you for sharing your concern with us. At this time, the campaign is under review to ensure that it adheres to our Terms of Use (http://www.indiegogo.com/about/terms).

So what happens now? We will include the information you have provided along with all other information at our disposal in our review of the campaign. In some cases, we will contact the campaign owner to have them edit their campaign and it will remain on our platform. If the project doesn't follow our rules, we may remove the campaign. We may also restrict the campaign owner's future activities on Indiegogo.

To protect our users' privacy, we're unable to share the action we take. At Indiegogo, we take the trust and safety of our community very seriously, and we greatly appreciate your patience and understanding throughout this review process. To learn more about Indiegogo’s Trust & Safety effort, please visit: www.indiegogo.com/trust

Please note that you do not need to contact us again. Doing so would create a new ticket and prolong the process. Thank you again for taking the time to get in touch with us and for helping to keep Indiegogo a safe and secure platform.

Regards,

Brian
Trust and Safety

[TPTB_need_war]

smooth are you not understanding my logic? Everything Evan is writing in that document appears to me to be incriminating. Here is another example:

6. These early mined tokens had no value at the time and many people just traded them OTC or sold them in exchanges very early on. There was no benchmark and no way to know Dash was going to grow and become a bigger project so most first day miners just sold their coins.

How can he know what the first day miners did on OTC unless he was buying all the coins that were sold or was in communication with all the first day miners.

He claiming or admitting that the first day miners were a close knit group.

smooth are you not understanding my logic? Everything Evan is writing in that document appears to me to be incriminating. Here is another example:

Did you see me disagree?

Incriminating or not, at best it is obviously all double-talk, half truths, and speculation presented as fact. That alone is enough to make any sane person want to stay the fuck away.

It is either fact that he could know what he claims to know, in which case they need to disclose all the facts they knew. For example, if they can know what all first miners did, then they must disclose the numbers.

Else it is speculation painted as fact which is a violation of proper disclosure for investment securities.

So either way, it appears to be incriminating w.r.t. securities law in the USA, but note IANAL.

The House of Cards known as XCoin, DarkCoin, DRK, Dash, Dashpay, appears to be nearing its deathstar destiny.

[InvoKing]

As I said before great list and nice effort Gleb, keep it updated.
I wonder know the original country of each guy (curiosity) top x (maybe a bad idea?)

[TPTB_need_war]

The [Dash] dev hasn't f*cked off to the Bahamas to enjoy his "takings". He's taken god knows how much personal abuse, character malignment and professional attacks over everything from the launch to his coding.

Which he completely deserves for his ostensibly illegal activities, which btw may take the coin to 0 if FinCEN and/or SEC action begins against him and his accomplice pumpers here in this forum.

He is a disgrace to crypto-currency and is helping to advance the popular idea that crypto-currency is only for nefarious activities. Which is hurting all of us, even those who didn't "invest" in DRK.

Erik Voorhees barely escaped prison by returning all the money.

And you are a disgrace for claiming we are a disgrace for pointing this out.

If this forum can't do something about allowing ostensibly illegal promotion or illegal unregistered investment scams such as the cases Dash and Rimbit which are obvious, then perhaps it is time to replace this forum. I am all for freedom-of-speech, when it is legal.

And of course he hasn't disappeared because the masternode lucrative scam is ongoing. Ditto Rimbit continues to sell more 100% premined tokens on Indiegogo in violation of Indiegogo's Prohibited Perks policy even after Indiegogo acknowledged my message alerting them to this over 2 weeks ago.

WTF has this world turned into a scam paradise where no one respects rudimentary consumer protection laws any more  

Nice to know we're all in the same disgraceful boat.

Legal and illegal are extremely relative terms, depending one's geographical coordinates.

These Dash accomplice criminal mindsets promote jurisdictional gaming of common sense law, but they will fail because they are entirely (objectively) unethical:

As I had explained to AlexGR upthread, objective ethics is not playing in zero sum games when a non-zero sum game is available that expands the pie for everyone. I realize he hails from some Communist culture where they had to steal from each other, so he was taught to not have ethics.

I don't know what any particular country does, but the idea of countries claiming jurisdiction over those doing business with their own residents, even if the business is located elsewhere is not unique to the US. It is very widespread if not nearly universal. Most countries would not stand up to the US over this not only because the US is powerful and gets away with laws like FACTA and strongarming everyone into MLATs, but just because they want the same powers for themselves. US companies have been on the receiving end here in several high profile cases and probably many smaller ones.

Any nation with rudimentary securities regulation will have issues with crypto-scams offering a quasi-legal boiler-room prospectus like this one:

http://www.digitalcatallaxy.com/report2015.html

For those who still think global cooperation isn't coming:

https://www.armstrongeconomics.com/world-news/taxes/obama-wants-worldwide-taxes/

https://www.armstrongeconomics.com/world-news/panama-papers-used-for-political-purposes/

[Soros Shorts]

How can you forget altoid?
He must be first among the list.

Now rotting in jail for lifetime.

As far as I was aware he was not a Piece of Shitter to his users.

[TPTB_need_war]

Evan had a youthful exuberance, when coupled with a lack of experience caused some mistakes to be made.

Someone youthfully exuberant would not have been able to hold back on telling the world about the development and feature plans he was so excited about and instead wait until after the instamine was entirely completed. In fact he did exactly that which shows it was likely purposeful and calculated, not accidents and mistakes.

Evan had been around crypto for at least two years or so before launching Dash. He'd see it all, including premines, hidden premines, instamines, etc. He was no beginner and he knew exactly how to play the game.

Thanks for that contribution. Still no facts that link Evan to any bad intent. Keep to the facts. All I see is an opinion, which I can respect, but opinions are not what this thread is about.

Facts:

1. Evan had at least two years of experience with crypto before launching Dash. There was no "lack of experience" as you claim. (Your statement about what "caused mistakes to be made" was opinion, by the way. I'm glad we have agreed to exclude opinion from this thread.)

2. Evan stated months ahead of the launch that he was working on a "for-profit" coin launch.

3. Evan deliberately withheld the development and feature plans until after the end of the instqamine.

4. Evan misled people about the launch schedule, launching much earlier than promised. During the first hour, over 500000 coins were mined, and in 8 hours, over a million coins.

5. Evan later cut the mining rewards and coin supply, increasing the effective size of the instamine by a factor of four or more.

6. In total, the instamine of 2 million coins represents over 30% of the current supply of Dash.

These are all objective, documented facts. No opinion. People can draw their own conclusions as to whether this was an elaborate fraud or a legitimate coin project.

[Spoetnik]

I will add "Gleb Gamow" because you are using unlicensed exchangers.

None of those from your list, was a financial licensed exchanger. So, those who used them, knew that there are risk. I don't care about them so your list is useless.

Use a financial licensed exchanger and you will have NO problems. Stop complaining about illegal exchangers while you encourage them by using their services.

He started using Crypto before ANY such license was even thought of.
Do you know who you are talking to ? (the OP)

Do your homework and use your brain.

Gleb nice list well done.
One thing i thought was interesting is the Dash / Monero camps.
I would be happy to throw both in the fire