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Author Topic: RAWX altcoin exchange (former mcxNOW) | LAUNCHED ON AUGUST 7  (Read 25444 times)
callmejack
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May 10, 2016, 08:50:26 PM
 #41

I absolutely cannot understand why people think or communicate that mcxnow felt scammy.

I can only remember one unplanned maintance downtime for which was stated after an analysis that it has been caused by a memory fragmentation issue which triggered the ai to take the site automatically down before trades could be made.

Once there has been a planned downtime with a date set from which on the coins will not be accessable until the site is up again. I left most of my coins in the exchange and after the site was up again all my coins were still there.

One thing which people who do not understand what they trade may refer as "scam" to is the fact that the doge developers decided to switch to a new hardfork without making sure that the backend infastructure the community has built upon their coin is ready for the switch. As those traders realized what they traded and wanted to switch to the hardfork it was not possible since the users created a own ecosystem in the original doge chain which has been independant to the new hardfork (yes, people mined in that chain to trade coins on mcxnow).
Like no other exchange does mcxnow always showed the current blockchain height of the hot wallets live and everybody could see wether the site is in sync or not.

If the codebase is as stable as it was the new site will really become important for the whole crypto scene since there is absolutely nothing comparable for high frequency trades and trade execution time. I cannot remember any successful ddos attack since the main exchange is hidden behind proxies.

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May 10, 2016, 10:34:02 PM
 #42


Lotsa luck! Smiley






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LeChatNoir
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May 11, 2016, 07:40:53 AM
 #43

Selling a big portion of the business while promising i will do this and that and 2 weeks later closing down the exchange without reason or justification can be considered scam?
IMO it is scam!

And what about the DOGE haircut?
Realsolid made the users pay for HIS mistake in that case!

What about the startcoins he lost and never refund, because he was too busy traveling the world and left the exchange on autopilot for one month forgetting to update the wallet?

What about the promise of converting existing solidcoins into shares of a new coin, what about that promise?
He's been selling solidcoins to his users for one year and one day said fuck, you're gonna have nothing back greedy bastards!

I can go on and on, there's little doubt Realsolid IS a scammer.

Maybe "enlightened" is not Realsolid, but who tells us he's not just a low paid figurehead and Realsolid isn't still there running is new brand scam in the background?

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enlightened (OP)
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May 11, 2016, 10:51:06 AM
 #44

LeChatNoir, I can understand your anger. Contrary to some others here you have justified your points, so let me address some of them.

Selling a big portion of the business while promising i will do this and that and 2 weeks later closing down the exchange without reason or justification can be considered scam?
IMO it is scam!

I see what you mean. However I announced that every bit you and others owned of the old exchange will be converted to 'fee tokens' on RAWX. So you will keep your share.

And what about the DOGE haircut?
Realsolid made the users pay for HIS mistake in that case!

What about the startcoins he lost and never refund, because he was too busy traveling the world and left the exchange on autopilot for one month forgetting to update the wallet?

All I can say about that is that I would have handled it differently.

Let me give you an example:
When Realsolid announced that there will be a hard fork of Solidcoin and the project kind of split (that was when he decided to go closed source), I supported both forks (which Realsolid didn't like at all) - because I didn't want to decide for the users which fork their coins should convert to, because I didn't want to make the choice for them.

What about the promise of converting existing solidcoins into shares of a new coin, what about that promise?
He's been selling solidcoins to his users for one year and one day said fuck, you're gonna have nothing back greedy bastards!

This is nothing exchange related, so it has nothing to do with RAWX or me.

Maybe "enlightened" is not Realsolid, but who tells us he's not just a low paid figurehead and Realsolid isn't still there running is new brand scam in the background?
You seem to be someone who is not a blind hater, but who gives reasons and who is open to reason.

That's why I would ask you to simply keep to the facts. If I was Realsolid or if it is only about 'rebranding', why even announce RAWX as the successor of mcxNOW then at all?


I have always had an understanding of my community's thoughts and needs and was willing to listen to them. And I think everyone who used to trade on my exchange can confirm that. And that is what matters now, isn't it? Not how RealSolid handled things, but how I will handle them.
KLONE
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May 11, 2016, 12:47:27 PM
 #45


yeah, lotsa luck to the users  Grin
Spoetnik
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May 11, 2016, 04:43:13 PM
 #46

Picking up and trying to carry on MCXnow was a horribly stupid idea to begin with.

But lets dig past that..

What is that you offer ?
I heard "Competition" because the more the better.

Guess what ?
As i am typing this i now officially declare myself competing for the 2020 Olympic weight lifting competition.
Get it ?

I asked you HOW exactly are you "competing" ?
What the hell is it in your mind do you think your doing that is deemed competitive vs other exchanges ?
I never got ANY answer.
Just some jab's about my rating here and some jokes.

I have asked numerous times also what the fuck is so great about a c++ backend ?
And what the hell does a c++ web site exchange mean anyway ?
RealSolid always said that before and i always laughed my ass off. (it said that on the bottom of every page)
I learned web design and started coding in c / c++ in around 2002 / 2003.
What about you Exchange coder ?
Can you tell us how a web site benefits from c++ code ?
I bet you were not even using computers back then son LOL

What we REALLY need is new exchanges that solve existing problems.
And there is a bunch of issues with the current generation of exchanges.
How do you address these existing problems ?
Like what ?
How about Transparency and some assurance / insurance against the owner walking off with the funds ?
Never mind getting into the Centralized / Decentralized aspect of things (where we SHOULD be heading)

To be brutally honest and fair ..more of the same does us no good.
And picking up the torch from MCXnow is a mighty foolish thing to do anyway.

Your willingness to bend over backwards trying to cover and make excuses
for RealSolid and MCXnow and including ties to the old exchange (such as the stuff about FEE's being transferred over)
Is bewildering and has me scratching my head.
If i was taking over RealSolid's exchange code i would be distancing myself from him.
And making it clear you took over his code & that is it !

If that is all that you are doing then why honor MCXnow fee's
and rail on and on and on defending both RealSolid & MCXnow ?
Something does not add up here !

And that other account is you OP and we can all see it clearly.

FUD first & ask questions later™
callmejack
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May 11, 2016, 04:56:42 PM
 #47


Can you tell us how a web site benefits from c++ code ?


c++ code makes it possible to control the whole system since there is no 3rd party code for databases, webservers and libraries in the exchange backend used.
having to rely on 3rd party code makes it simple to attack the site if a 0-day exploit is found for any package.
finding a 0-day for custom code is almost impossible since you have no access to the source to analyse it in depth to find useful attack vectors.

beside of security it runs much faster than anything else and can be optimized for requirements like thousands of transactions per second or in memory data verification.

enlightened (OP)
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May 11, 2016, 05:42:39 PM
 #48

Thank you callmejack for pointing that out.

I didn't tell you, Spoetnik, what callmejack just told you because you didn't ask.

All you did was saying
AKA: another centralized exchange does not help us any at all.. c++ back end or not.
..what ever that means.  Roll Eyes


Welcome back by the way. I thought you were done after saying

- Well rather than cracking jokes you could have addressed my concerns.
You chose not to.
So i am done.. good luck with your "NEW" c++ exchange.
Wanna place a wager to see how long it lasts ?


Now to your latest post:

And that other account is you OP and we can all see it clearly.
What other account do you mean? There is one single account that is under my control here on bitcointalk, which is this one. But you see, this is what I mean: baseless accusations.

How about Transparency and some assurance / insurance against the owner walking off with the funds ?
My full name and address is on the webpage, because German law requires me to do so.
I am not an anonymous forum user accusing others of wrongdoing without giving proof.

Do you know how it feels developing, spending your free time on a project and reading posts like yours?
You probably don't, because you are obviously not a developer.

Please understand that I don't want to waste my time on responding to your posts anymore which contain nothing but baseless accusations. I don't have to defend myself in any way, so I won't.


Thankfully, there is other great feedback and people who support me which keeps me going.
Thank you guys! Smiley
Spoetnik
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May 12, 2016, 12:43:44 AM
Last edit: May 12, 2016, 12:54:13 AM by Spoetnik
 #49

[qu0te author=enlightened link=topic=1465315.msg14808129#msg14808129 date=1462889001]


mcxNOW did not shut down with a good reputation contrary to your claims.
it left a sour taste in many mouths..
Mind to elaborate?

- It's YOU who needs to elaborate not the other way around.
So far you have demonstrated a competent comprehension level of English
While simultaneously voluntarily bringing up all the key pieces of RealSolid / MCXnow's history.
(how you have been distancing yourself from RealSolid / MCXnow)

I know the history of the guy and the old exchange and apparently so do YOU rather well.
Nobody asked or brought it up until YOU did !
Your "spin" or "angle" on the history of MCXnow was "calculating" to those of us that know.

Wanna play smart ?
Get better at it and fast.. because your drowning like a fucking rock in the ocean here pal.
Not all of us are clueless noobs waiting to chant "Take my money now"
They are watching and the see what i see i guarantee you.
I ask questions and all you have done is be deflective and play games make insults and crack jokes..
While avoiding the tough questions asked of you.




I also heard no reason what so ever why we all need another exchange
and what this does different other than claims of running on c++ etc.
First, I think competition is a good thing. It is good when there are different exchanges that meet the taste of different people.
Every exchange does some things a bit differently and users can choose which one to use.
I would like to contribute to this diversity, if you don't mind.

- We are not debating the merits of the abstract concept of "competition" or "diversity".
I also asked what is it EXACTLY that makes your exchange competitive or diverse.
You have said nothing in response.

If you don't understand the handful of questions i asked related to "competition"
Then i would like to kindly request you find someone smarter to spell it out to you.. slowly.
..if you don't mind.

Competition is needed in some areas of life but when we need a currency to be widely adopted
it is not smart.. it is counterproductive.
What if the USA had 7,000 different paper currencies to manage in store tills while shopping ?
We need more exchanges ? How many times are you going to quote my questions
and then say we need competition if you don't mind ?

I will have to take it as your ultimate answer for WHY .. for all this. (it is all i am getting)
Why did this guy take a sketchy exchange and re-launch it ?
"Competition is good and it's C++ ..if you don't mind"
Nice answer buddy ROFL

SOLD.. TAKE MY MONEY NOW !

I just hope this 3rd attempt will not end up like the last 2 attempts.
..you guys got bored of playing banker and wandered off with peoples money.
What is that saying again ? "Fool me once.." ?




i can list them off and 8 out of 10 have been hacked etc..
for a total of around 1 BILLION dollars in end users funds stolen.
Of course trust is a key issue. Neither mcxNOW nor Solidcoin24 have been hacken. No funds were lost. I believe this adds to my credibility.

- Oh yeah ?
Was MCXnow hacked ? as far as we know NO it was not.
Who trusts them ?
Nobody.




Further more why should we trust a fishy new "Junior" account here saying "we" ?
It's not that new. It's older than yours in fact.
I don't mean to be insulting, but producing posts containing baseless accusations doesn't make you a more credible person in any way. Especially not when I look at your trust rating.

- I don't mean to be insulting "Junior" but you are playing dumb again.
You are clearly someone who has been around for a while and chose to do this bullshit
with a Junior account from 2011 ..this does not scream credibility.
And i should not even have to point that out.. it was obvious to EVERYONE.

Want to STILL keep playing dumb on the same exact points comment after comment ?
Try this for example..
What if i used an abandoned Junior account i made 5 years ago to launch and exchange based off of Cryptsy.
And i made no mention of my normal account here or ANY related activity etc.
I can assure you 100% that this forum would sniff me out and be all over me over it..
and be confronting me about WHY i would have chosen to act in that manner.
Is that where i play dumb ?




Do you think i would so much as click on your web site link to see the preview ?
Fuck no.. i don't want you even having my IP address.. that is how much i don't trust you.
Well use a proxy then.

- Forgot to post your reply here ?
Top notch security related advice LOL




And you ran an exchange in 2011 ?
Where is it now ?
I closed it, due to a lack of time. It was a hobby and I didn't run it to make money. But the important thing is that everyone had time to withdraw their funds.

- You don't run an exchange as a fucking "HOBBY"  Roll Eyes
We have waaaaaaay too much of that bullshit in crypto.
All of you are fast to launch and flood the scene with any type of scheme you can think off.. for profit $$$

But supporting it long term like a professional or even an adult is beyond your grasp.
A mature adult knows for example you do not launch a new software program that would
require extensive permanent updates + security forever.. unless
..you are DAMN FUCKING sure you have the ABILITY to support it long term !

So what do people do if you get hit by a bus ? How will they get their money ?

I have seen this problem persist across the web for decades.. nothing new.
The internet is littered with teens abandoned projects..
And by the sounds of it your exchange here is now on round 3 of the same bullshit.
So why in gods name would we expect anything different ?

I also have been asking questions because i am curious why you consider launching
an exchange in this climate to be a smart decision.
This is not exactly a good time to be firing up another exchange now is it ?
UNLESS you have solved some of the fundamental problems i alluded to a few times earlier.

I said earlier.. roughly 80% of all exchanges claimed to have been hacked.
Almost none are still around.. we users have been taken for about $1,000,000,000.00 dollars.
So i will ask critical questions when guys re-launch sketchy exchanges that burned users before.
..IF YOU DON'T MIND.

And i could list them that have been hacked but it would be better if YOU did !
You are the one launching an exchange so i should hope you are aware of the large amount of previous exchange hacks that went down before.. i know them, i listed a shitload of them a few times before.
Did you even do your homework ?

By the way, the climate when it comes to hackers has changed dramatically. (since 2011)
Saying i never got hacked in 2011 like i just said, means sweet fuck all.

Hackers got way smarter and have picked up on the crypto thing since then.
In other words the situation has changed and the security is now a huge looming issue.
Who runs your security ? one guy ?
What are YOUR credentials related to security ? <-- the most important question of all here.

How are you going to reassure your customers that 1 guy is going to be able to run the exchange update wallets, code the site, add new features and maintain security
and of course.. do support tickets as you claim RealSolid could not keep up with so he shut it down.

You realize big banks around the globe get hacked a lot right ?
How is it you think you can do better than them security wise with your "C++" exchange ?




And if you are trying to distance yourself from the exchange it was born from
why on earth would you convert mcxNOW fee's ? That seems rather odd to me.
Where did I distance myself from the exchange it was born from?

- Playing dumb again ?



I am not a HUGE RealSolid hater but there are many of them out there so have fun with that Wink
Good thing I am not Realsolid then Roll Eyes

- Forgot to post your reply here ?



PS:
And i am done when i say i am done Junior Wink

EDIT:
And by the way i think you blew it.
You should have brought up answers to my questions before i even asked.
They are common sense and answering them now to me would be too little too late.
I would view at is Spoetnik teaching the noob how to "do it"
I have long said i am not hanging around here to help kids build a better scam.. learn on your own !
You failed here "Junior".

FUD first & ask questions later™
seleme
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May 12, 2016, 01:59:46 AM
Last edit: May 12, 2016, 02:12:46 AM by seleme
 #50

He is definitely not RealSolid. The way he communicates with people and his ability to maintain his temper is just the opposite of RealSolid. The word cunt hasn't been mentioned even once. But then again maybe people change.  Grin

Well, since I was and still am the biggest holder of mcxnow fees beside owner I was always looking what Realsolid might be about (once in a year he'd appear) and I had a chance to chat with him on mcxnow chat once few weeks ago and believe it or not, he looked like a normal guy. Really normal guy. It was bit of shock as he was obviously the biggest dickhead the Universe have seen before.

Enlightened or Realsolid, can't believe you 100% yet that you're not him, sorry, I obviously have big interest in this coming online and being successful so I hope you pull this out, it would be very nice gift.

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seleme
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May 12, 2016, 02:05:43 AM
 #51

My reply back is in BOLD text  Grin

[qu0te author=enlightened link=topic=1465315.msg14808129#msg14808129 date=1462889001]

mcxNOW did not shut down with a good reputation contrary to your claims.
it left a sour taste in many mouths..
Mind to elaborate?

I don't need to i will let the others take a care of that.
I also have a few stories of my own but they are not needed.
You are simply denying common knowldege
Try using the forum search button if you want to play naive.


I also heard no reason what so ever why we all need another exchange
and what this does different other than claims of running on c++ etc.
First, I think competition is a good thing. It is good when there are different exchanges that meet the taste of different people.
Every exchange does some things a bit differently and users can choose which one to use.
I would like to contribute to this diversity, if you don't mind.

- More exchanges and more coins is just what we need huh ?
Nice logic  Roll Eyes
I made my point crystal clear by the way.
how is it you are going "COMPETE" with other exchanges
when i just finished saying you are doing things the same ways as the others.
AKA: another centralized exchange does not help us any at all.. c++ back end or not.
..what ever that means.  Roll Eyes
And yeah i DO mind.
I need to put my foot down and say enough is enough.
You remind me of Coindesk when they ran a story claiming the more coins the better.
http://www.coindesk.com/need-altcoins-can-get/
Stupid logic from stupid people.. who are looking for profit cash money fiat $$$


i can list them off and 8 out of 10 have been hacked etc..
for a total of around 1 BILLION dollars in end users funds stolen.
Of course trust is a key issue. Neither mcxNOW nor Solidcoin24 have been hacken. No funds were lost. I believe this adds to my credibility.

- Saying we have not been hacked amounts to squat.
That does not = security or user confidence.. or ANYTHING.


Further more why should we trust a fishy new "Junior" account here saying "we" ?
It's not that new. It's older than yours in fact.
I don't mean to be insulting, but producing posts containing baseless accusations doesn't make you a more credible person in any way. Especially not when I look at your trust rating.

- I am not going to address my so called "TRUST" rating. (need more info then search around)

I don't care when you made your account.. Junior.
And you side stepped my valid point.
I don't hold the weight of Junior accounts too highly when they launch new coins or services.
I also bet my left nut you have other accounts you could log into here.
This is clearly the beggining.. step one create or start using a noob nobody account.
(to mask you well known identity)
So you claim you *contributed* something in 2011 ?
uhh so fucking what "Junior"  Roll Eyes


Do you think i would so much as click on your web site link to see the preview ?
Fuck no.. i don't want you even having my IP address.. that is how much i don't trust you.
Well use a proxy then.

- I don't visit websites that would require a proxy.

And you ran an exchange in 2011 ?
Where is it now ?
I closed it, due to a lack of time. It was a hobby and I didn't run it to make money. But the important thing is that everyone had time to withdraw their funds.

- Sounds EXACTLY what you claim happened with RealSoild
Now both of you claim to have gotten bored of your exchange and closed them
leaving people hanging.
Such as the guy who lost his coins on MCXnow who commented previously.
So how soon until this 3rd exchange gets boring and you wander off ?
Kids like starting things they just don't like having to support them permanently.


And if you are trying to distance yourself from the exchange it was born from
why on earth would you convert mcxNOW fee's ? That seems rather odd to me.
Where did I distance myself from the exchange it was born from?

- In your first post.. you playing dumb.

I am not a HUGE RealSolid hater but there are many of them out there so have fun with that Wink
Good thing I am not Realsolid then Roll Eyes

- Well rather than cracking jokes you could have addressed my concerns.
You chose not to.
So i am done.. good luck with your "NEW" c++ exchange.
Wanna place a wager to see how long it lasts ?



To be honest, McxNow was the best exchange technically by a fucking mile before RS decided to screw all people that made him rich buying fees and with his planned road to do it he was doing some crazy stuff that made people lot of money. I made at least 200 BTC there (probably closer to 300 as it was 180 BTC in just one of his crazy manipulated fees fluctuations) in few months though most of it left there as I bought fees once too much.

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LPape
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May 12, 2016, 04:15:37 AM
 #52

are you adding new coins to the exchange?
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May 12, 2016, 10:42:40 AM
 #53

are you adding new coins to the exchange?

Of course. However I am not sure about the selection process yet. Right now main focus lies on development Wink

But the community will have a say in it of course.
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May 13, 2016, 11:26:51 AM
 #54

Good luck with the exchange!  Smiley
I have a few questions:
1. How far are you in the development process? When can we expect the exchange to open trading?
2. What will be the trading fees?
3. Will you offer feeshares for sale before the exchange launches? 100k is the max amount of feeshares iirc, will they all be in circulation (by previous mcxnow feeshare holders) when the exchange launches or is there a possibility for new people to buy shares?


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May 13, 2016, 12:20:39 PM
 #55

Good luck with the exchange!  Smiley
Thank you Smiley

1. How far are you in the development process? When can we expect the exchange to open trading?
Frontend is 50% ready I would say. The exchange will open end of June for everyone. The closed beta will begin in early June.

2. What will be the trading fees?
Similar to what they used to be. 0.2% to 0.3% on each side. But that has to be decided yet.

3. Will you offer feeshares for sale before the exchange launches? 100k is the max amount of feeshares iirc, will they all be in circulation (by previous mcxnow feeshare holders) when the exchange launches or is there a possibility for new people to buy shares?
You cannot buy any until the exchange launches. 100k will still be the maximum and they are all in circulation when the exchange launches. But of course you will be able to buy some on the exchange afterwards from other fee holders.

Make sure to subscribe to not miss any news Wink
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May 16, 2016, 05:32:41 AM
 #56

I want to start off by saying that the claims RealSolid scammed are, as far as I'm aware, still unfounded. Did he manipulate things on his exchange (like mcxFEEs)? Sure. Did he pump and dump them? Definitely. Is that scamming? Absolutely not. And he gave plenty of time to withdraw coins before taking the site offline (and even allowed more withdrawals AFTER the site was down via IRC).

I'm not here to say "RS is a great dude!" or anything, but the claims of scamming still haven't shown any proof yet. I've followed him since 2013 and while I find his business and marketing sense abysmal at best (he seems to be a very competent programmer, but can't run a business, which is really part of the norm, so I don't fault him), I don't know of any case where he actually stole from anyone.

And with all of that, on to the RAWX topic. @Enlightened, are current FEE holders going to be invited to the closed beta?

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May 16, 2016, 11:11:03 AM
 #57

And with all of that, on to the RAWX topic. @Enlightened, are current FEE holders going to be invited to the closed beta?

Yes, all FEE holders qualify to take part in the closed beta.
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May 17, 2016, 06:37:46 AM
 #58

mcxNOW did not shut down with a good reputation contrary to your claims.
it left a sour taste in many mouths..
Mind to elaborate?

You really don't know?  Or are you just pretending not to know?

RS was very rarely present in the final months, when DOGE was due to fork from v1.7 to v1.8 he was warned multiple times of upcoming fork in chat and chose to ignore it.  He then went AWOL for 2 weeks.

In this period, DOGE forked, this allowed users to mine the v1.7 at next to no difficulty and transfer them all to mcxNOW to dump on unsuspecting noobs who though it was real DOGE and people with bots running.

Even better, an epic fuck up with the way the fork was done meant you could actually withdraw DOGE on the v1.8, whilst depositing to credit your balance with v1.7's.  

It was a spectacular shitstorm and after it unfolded RS threw his toys out of the cot and shut down.  Technically mcxNOW was indeed hacked IMO.

How do I know all this...well I mined some v1.7's didn't I.

Do not trust this exchange, stay far far away.

Also I must point out mcxNOW was fast in 2014, but by modern exchange standards it would be nothing special.

After I am done with you, you will be banned from ever being on the internet again or even owning a PC
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May 17, 2016, 08:07:16 AM
 #59

And with all of that, on to the RAWX topic. @Enlightened, are current FEE holders going to be invited to the closed beta?

Yes, all FEE holders qualify to take part in the closed beta.

Awesome to hear. Looking forward to seeing it in action! Can you also shed some light on how the FEEs will work? Like will it be the same as before, paying the appropriate portion of ALL coins every 6h, or how is it being changed?

mcxNOW did not shut down with a good reputation contrary to your claims.
it left a sour taste in many mouths..
Mind to elaborate?

You really don't know?  Or are you just pretending not to know?

RS was very rarely present in the final months, when DOGE was due to fork from v1.7 to v1.8 he was warned multiple times of upcoming fork in chat and chose to ignore it.  He then went AWOL for 2 weeks.

In this period, DOGE forked, this allowed users to mine the v1.7 at next to no difficulty and transfer them all to mcxNOW to dump on unsuspecting noobs who though it was real DOGE and people with bots running.

Even better, an epic fuck up with the way the fork was done meant you could actually withdraw DOGE on the v1.8, whilst depositing to credit your balance with v1.7's. 

It was a spectacular shitstorm and after it unfolded RS threw his toys out of the cot and shut down.  Technically mcxNOW was indeed hacked IMO.

How do I know all this...well I mined some v1.7's didn't I.

Do not trust this exchange, stay far far away.

Also I must point out mcxNOW was fast in 2014, but by modern exchange standards it would be nothing special.

To touch on the DOGE situation, I can confirm what you've said is true (at least in terms of the forking happening, and there being ample time prior for it to be updated on his end). "Hacked" isn't the proper word, though... it's more like negligence. And in this case, it was indeed costly. I was lucky in that I wasn't affected by the situation. And I believe this is when he did the haircut, correct? I know a couple users volunteered decent sums to help cover losses, but the entire situation was a pretty dark one (I remember being highly against a haircut, even though it wouldn't affect me, just on the basis of principle).

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May 17, 2016, 06:29:03 PM
 #60

To touch on the DOGE situation, I can confirm what you've said is true (at least in terms of the forking happening, and there being ample time prior for it to be updated on his end). "Hacked" isn't the proper word, though... it's more like negligence. And in this case, it was indeed costly. I was lucky in that I wasn't affected by the situation. And I believe this is when he did the haircut, correct? I know a couple users volunteered decent sums to help cover losses, but the entire situation was a pretty dark one (I remember being highly against a haircut, even though it wouldn't affect me, just on the basis of principle).

To put this simply, it was possible to deposit v1.7 DOGE (mined at like 3 difficulty) onto mcxNOW, and then withdraw v1.8 DOGE (i.e. the "real" DOGE mcxNOW owned).

Essentially the entire mcxNOW valid DOGE balance was withdrawn, it wasn't just a case of lots of fake DOGE appearing and being dumped for BTC - the valid DOGE the exchange owned were actually withdrawn too.

This is a little known fact that RS tried very hard never mention - the valid DOGE balance was also withdrawn.

If that doesn't constitute "hacked" I don't know what does???

All in all mcxNOW lost about 150 BTC + of coins.  The only reason there wasn't a huge haircut is the fact they managed to work out who took most of the funds, doxed him, and he caved and gave most of the money back.  Lucky for most it was a chickenshit that took it all.

After I am done with you, you will be banned from ever being on the internet again or even owning a PC
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