The Truth Behind New Altcoins

[person9000]

If you're new to these forums and think this place is legit...

I will tell you this.

96% Of any of the new coins, including many of the repped ones, are a few groups of thieves who produce and dump code where they alter some non-important piece of code that they describe in confusing terms to make the coin look good.

They attract new users who have not learned about this scam into paying them even before a coin launches.  They build up some btc from the release, keeping coins and investments, then just disappear.  You will see a mysterious new user post an alt coin days later that happens to be from the same group of people.

DO NOT FALL FOR THIS. ITS ALL BS.  There's a handful of actual legit coins the rest are either 100% scams or are simply dumped later on.

ALSO WHO THE HECK RUNS THIS FORUM?

IF YOU HAPPEN TO LOAD THIS UP ON TOR BROWSER YOULL NOTICE THIEVES USING THE TOR IP's WITH BANNED ACCOUNTS.  MAKES SENSE BUT YOULL ALSO NOTICE
THE FORUM OPERATORS WILL UNBAN THIEVES IF YOU PAY THEM IN BITCOIN.
??

[Sylon]

Only invest what you can afford to lose. Very simple rule.

[TraderBill]

Thanks for creating a brand new account just to warn us, bro.  Please, warn us again some time.

[electronicash]

True. They even pretend to be Chinese because naive people believe the Chinese will also use the coins to which Chinese has billions of population.
They can really scam the very wise guys here, if it weren't because of the investigative individuals here in bitcointalk.

if a coin has features which almost similar to some successful coins then most likely, the dev team are scams. just take a look at declouds... when they saw xaur had been successful on thier ICO, they then tried it as well.

[danherbias07]

Oh crap! He is so mad I can feel him shouting. But it is a good warning and it is the truth. Believe him and be wary of the altcoins that are popping up specially those with bots. Buy them at your own risk, dont run crying after you got robbed.

This is reality. Many will try to eat those weak.

[fortunecrypto]

I'm sure you are an alternate account of one long time member here,it's impossible for a newbie to know this reality,as a member of this forum with many altcoins ready to scam you ,you need to be aware of what are the legit and scam sites,not all are scam sites and not all are legit also.

[UnknownEye]

Oh crap! He is so mad I can feel him shouting. But it is a good warning and it is the truth. Believe him and be wary of the altcoins that are popping up specially those with bots. Buy them at your own risk, dont run crying after you got robbed.

This is reality. Many will try to eat those weak.

Ya just like you said,this man is so mad of alt coin scam.I think this man already face the experience of dumping scam at alt coin.Buying a large amount of alt coin in hoping the alt coin price will increase in the long run,but in the end,it just dump scam.I also feel we need to be careful for now.

[electronicash]

 unbaning the IP of the thieves doesn't matter though. WE all want freedom and privacy at the same time let those thieves watch everything  that's happening.
Its the users to be warned the we are after so they'd no be a victim one day.

[legdunes]

This is pretty obvious, altcoins are a joke and ruin Bitcoin and what it stands for. Just stay away.

[bbc.reporter]

He said even the "repped" ones. What coins did he mean by this? Please give us examples of what these repped coins are that are scams so that we could have an idea of which ones to avoid.

[bitcoinisbest]

Firstly nobody know how many daily new coins being created and within how many days their value goes to zero. Actually just check out of millions coin how many actually in the world the good altcoins have some value in the market now.

Be safe and see if its worth the money of any such coins.

[samcoin]

Yes there are a scam cryptocoins, no doubt about that, but why you are offending this forum, do you how many people are benefiting from it, or how many people are learning new things here, there are many other sections beyond altcoin announcements, I agree there should be some rules to post new announcement in order to avoid the scam coins, but that can't drop the high value of this forum.

[Amadues]

If you're new to these forums and think this place is legit...

I will tell you this.

96% Of any of the new coins, including many of the repped ones, are a few groups of thieves who produce and dump code where they alter some non-important piece of code that they describe in confusing terms to make the coin look good.

They attract new users who have not learned about this scam into paying them even before a coin launches.  They build up some btc from the release, keeping coins and investments, then just disappear.  You will see a mysterious new user post an alt coin days later that happens to be from the same group of people.

DO NOT FALL FOR THIS. ITS ALL BS.  There's a handful of actual legit coins the rest are either 100% scams or are simply dumped later on.

ALSO WHO THE HECK RUNS THIS FORUM?

IF YOU HAPPEN TO LOAD THIS UP ON TOR BROWSER YOULL NOTICE THIEVES USING THE TOR IP's WITH BANNED ACCOUNTS.  MAKES SENSE BUT YOULL ALSO NOTICE
THE FORUM OPERATORS WILL UNBAN THIEVES IF YOU PAY THEM IN BITCOIN.
??

96% any reference about this percentage? how did you calculate? what is the source of your calculation?

not to criticize your post and your analysis it's absolutely true that a lot of coins are create just to scam people but it's not an exact rule...
some coins are also useful and some others are live also from a lot of time!

[spartak_t]

I won't say 96%, but handful of developers (like 5-10) are behind at least 100 coins, all created for one simple reason: scam.

[BitcoinNational]

the 'NEW' coins era is 96% over
600 have survived, and there still more rounds left in the Hunger Games ... so lets say 420 ... independent chains will hum along for the next 4 years ... and become cybernations if they make it that far.

the nxt SCAM is going to be assets ... and the hot platform is ETH ... and the word is ICO.

now SCAM dev teams just need 'hype' and a 'website'

No need to code a wallet.
No need to set up a network.
No need to get an exchange listing.

The platforms provide all that.


    

[robelneo]

I notice some investors are now getting wiser when it comes to investing,they do not easily believe in Ico anymore,because they know this works and how dev manipulate it's price,one good example is Ubiquion,the Ico was finished in two hours when the coin has nothing new to offer.

[Spoetnik]

Yes there are a scam cryptocoins, no doubt about that, but why you are offending this forum, do you how many people are benefiting from it, or how many people are learning new things here, there are many other sections beyond altcoin announcements, I agree there should be some rules to post new announcement in order to avoid the scam coins, but that can't drop the high value of this forum.

Because it deserves it.

99.99% of all "Altcoins" are scammy pointless bullshit ..for profit.

NOT CURRENCIES.

Staff here are fucked in the head too ..for example they KNOW Paypal is not allowed with coins
yet they leave the market section flooded with buy / sell topics leaving all user at risk of having their accounts frozen and funds seized.

Want more ?

There is no rules here against posting scams.. there never was.

Not enough ?

When i started there was a nooby jail you had to post in first..
When coin cloning ramped up in 2014 they removed it so users could post straight in the ANN section.
This was an obvious ploy to facilitate mass coin cloning that ensued.

Want more ? i can keep going..

When i regged in mid-2013 this place had already collected over a million dollars for a new forum
and.. they had already been hacked.
Since i think they were hacked at least 3 times total and we still don't have that million dollar forum.
When i regged here BTC was far below $50 per coin too so imagine how much their million in BTC turned into when it hit $1,000.00 per coin.. get it ?

Want more ?

Let's talk about KNOWN coin cloners here and how they are deliberately ignored so they can run scams non stop.

PS:

Below picture was posted on poloniex chat by balance.ninja 10/14/2014



Carry on now pulling your little credibility weaner around here for bucks scammy pieces of fucking shit frauds.

[Herbert2020]

i say only 2-3 altcoins are even good to consider not 4%
the rest that you see are a bunch of hungry devs looking for money. and they do everything they can to fill their pockets from ICO scams to pump and dumps and also having 100s of accounts for shilling.
as an example you can always start a topic about ethereum and those 100s of accounts

IF YOU HAPPEN TO LOAD THIS UP ON TOR BROWSER YOULL NOTICE THIEVES USING THE TOR IP's WITH BANNED ACCOUNTS.  MAKES SENSE BUT YOULL ALSO NOTICE
THE FORUM OPERATORS WILL UNBAN THIEVES IF YOU PAY THEM IN BITCOIN.

the only UNBAN is for IP and it is understandable. some users may not want to connect to this site with their real IP address and use TOR which obviously was used as many scams.

I won't say 96%, but handful of developers (like 5-10) are behind at least 100 coins, all created for one simple reason: scam.

the only reason is money (PUMP and DUMP)

[spartak_t]

I won't say 96%, but handful of developers (like 5-10) are behind at least 100 coins, all created for one simple reason: scam.

the only reason is money (PUMP and DUMP)

You don't say?

[tiggytomb]

True, but there are some if you can wade through all the rubbish that do have something to offer, but definitely nowadays if you have been around for a while you can tell a scam straight off.