SCAM ALERT: DASH PART 1

[catoshi]

http://www.nasdaq.com/article/op-ed-a-closer-look-into-dash-part-1-cm760740

Detailed Article takes extreme objective look at DaSH!  Future failure is mathematically certain.

Mostly traded on Poloniex

This presents obvious concerns:

- High possibility that DASH supply is heavily centralized due to the instamine;

- Due to MNs earning 45 percent of block rewards, centralization of supply is only more likely to have increased;

- If MNs are heavily centralized, DASH's alleged privacy features are at the mercy of whoever is operating the majority of MNs.

Example scenario of increased supply centralization through MNs from user PoS

There is no way to verify or guarantee that each masternode is operated by a unique individual, making the DASH masternode system highly susceptible to forms of Sybil attack.

After the instamine, DRK block emission was lowered from 500 DRK to 5 DRK and maximum supply was reduced from 80m to 20m.

A sudden decrease in active MNs could signal a possible end to the recent increase in value that DASH has seen.

Input Output HK has also shared concerns and suggestions regarding DASH .



Read more: http://www.nasdaq.com/article/op-ed-a-closer-look-into-dash-part-1-cm760740#ixzz4bNbU3dx9

**** WARNING MANY SCAM ARTISTS WILL REPLY, THIS CAN BE A GOOD EDUCATION OPPORTUNITY TO THE LENGTH SCAM ARTISTS WILL GO TO STEAL YOUR MONEY *** ENJOY!

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[dinofelis]

Although centralization of supply does present risks, there are some resulting benefits in regard to price. Nearly 4000 MNs are active, which means the majority of the current DASH supply is "locked up," resulting in lower amounts of DASH being available for exchange. This would allow DASH to have a more "inflated" valuation per coin.

Not only to the price, but also to everything else.  DASH is Evan's fiat currency, mimicking as a crypto currency.  As most of the burden of a crypto currency (decentralized, trustless, etc...) is actually just as useless as most of the burden of using a tank to drive the kids to school, DASH has all the advantages of a centralised system that true crypto doesn't have.  

Most people don't use crypto for its crypto properties, but just trade on centralized exchanges in any case.  So for most people, the crypto thing is fancy, but of no use, and is cumbersome without benefit.  This is the advantage that DASH has.  DASH will never face "block size wars" like bitcoin.  Evan will decide.  DASH will fork when needed, and will not risk the ETH/ETC drama.  Evan will decide.  But be sure that Evan will keep DASH "honest".  He has a huge stake in it.  So DASH is lean, mean private fiat cash, mimicking as a decentralized crypto currency.  No true crypto can compete with that.

The only other similar thing was ethereum, also a centralized Foundation thing mimicking as a crypto.  No wonder these are the two high market cap contenders.

[catoshi]

Your argument isn't even competent, sign of a true scam artist.  I'm sure plenty more misleading posts will follow this one, ano opportunity for people to  learn about the scams taking place here.

[kolap]

Dash scam it is

[catoshi]

Flawed in so many ways, no other purpose except to scam investors.

[PovertyByte]

The article did not take an objective look at how Dash picked up momentum and how the coins circulated in the markets after the instamine. Due to this not being looked at as a serious project in the beginning the instamine reapers mostly sold it off which spread out the circulation because many did not want to be bagholders of what seemed to be a ready to die coin. It may have been near 2 million instamine but the amount that remains centralized to a few lucky SOB's is below 1 million. Less than 14% of the circulation right now reflects the instamine. Less than 10% is held by Evan, so he can't crash the market by cashing out. He wouldn't want to when this can just keep growing. This "scam" propaganda simply will not affect the use of Dash at this point. It's irrelevant now

[thepo1m]

Flawed in so many ways, no other purpose except to scam investors.

I think the market disagreed with you on been a scam, the third rally seems to have started again and the price keeps surging. $100 looks to be in the sight of the pumpers but one thing I'm sure of is that this won't end well for most people who are into this Dash Scam

[bitcircle]

It's all about dirty game of profit now it looking clearly there will be only bag holders after massive dump when current rally will be ended. Majority of the people already exist and now just looking for new investors to buy at huge price.

[dinofelis]

The article did not take an objective look at how Dash picked up momentum and how the coins circulated in the markets after the instamine. Due to this not being looked at as a serious project in the beginning the instamine reapers mostly sold it off which spread out the circulation because many did not want to be bagholders of what seemed to be a ready to die coin. It may have been near 2 million instamine but the amount that remains centralized to a few lucky SOB's is below 1 million.

How do you know this ?

[eid]

The article did not take an objective look at how Dash picked up momentum and how the coins circulated in the markets after the instamine. Due to this not being looked at as a serious project in the beginning the instamine reapers mostly sold it off which spread out the circulation because many did not want to be bagholders of what seemed to be a ready to die coin. It may have been near 2 million instamine but the amount that remains centralized to a few lucky SOB's is below 1 million. Less than 14% of the circulation right now reflects the instamine. Less than 10% is held by Evan, so he can't crash the market by cashing out. He wouldn't want to when this can just keep growing. This "scam" propaganda simply will not affect the use of Dash at this point. It's irrelevant now

Do you have proof of these claims? I'd be very interested in seeing it.

[Ayers]

Flawed in so many ways, no other purpose except to scam investors.

this is not new here in crypto all coins are scamming investors in one way or another why dash is different? remember when vitalik dumped 1M of his ethereum coin for btc, that is also a scam for me, why you think is is different? investors buy only for dumping at higher price i don't think they really care about the project

[qwizzie]

Interesting trust score from OP, less interesting though is this thread he made.

If you ran out of valid arguments against a cryptocurrency, you can always call it a scam and hope
some noobs fall for it... i understand.

[cryptohunter]

Interesting trust score from OP, less interesting though is this thread he made.

If you ran out of valid arguments against a cryptocurrency, you can always call it a scam and hope
some noobs fall for it... i understand.

QWizzie should be banned from this forum for lying so much to so many people. Saying only noobs will fall it being a scam is totally and utterly disgusting. This scammer will hopefully be locked up longer than evans.

He lies constantly over and over. He says only noobs will believe its a scam.... only noobs will believe it is premined and it was just instamined. However when called up to answer the difference between the captive instamine dash did and a premine he will not offer any explanation. Because he knows that a captive premine is a MORE scammy version of a premine. Because you get to premine and call it fair. He is totally misleading and scamming people. Sure buy dash if you want to buy dash but read the truth that it is a scam coin.


It is a confirmed scam here let me post the PROOF again for you.

Spoetnik told me you dash guys confess it is a scam so he does not need to keep reminding you but I see just lying over and over that it is not a scam.


Below i add at the request of spot the evidence upon which I assert dash is a scam coin


Let's take a look at the first 5 h of Darkcoin (XCoin at that time)...

https://bitcointalk.org/index.php?topic=421615.msg4589219#msg4589219
Edufield said (after failed launch) that he will wait the next day to launch DRK (XCoin at that time) it is 11 pm.

https://bitcointalk.org/index.php?topic=421615.msg4591407#msg4591407
Edufield disregard windows wallet and daemon and hurry up his launch, presumably to not have windows miners on board.

https://bitcointalk.org/index.php?topic=421615.msg4592827#msg4592827
Edufield say he added four nodes for the launch at 4 am (5 hours later, despite his promise to wait). The 4 nodes from Edufield are 3 amazons AWS + another unknown (whois IP). Launch started at 3h54 am.

https://bitcointalk.org/index.php?topic=421615.msg4593601#msg4593601
Edufield said the github version was not updated, nobody could compile and only Edufield was able to mine until that time. It is 5.09 am and Edufield instamined alone 1153 block at 500 DRK + 60 block at reward 277 = 593120 DRK for him alone in about 1 hour.

https://bitcointalk.org/index.php?topic=421615.msg4593987#msg4593987
No windows wallet confirmed at 5h47 am, despite a user attempt to make one avaiable, that Edufield dismissed quickly.

https://bitcointalk.org/index.php?topic=421615.msg4594096#msg4594096
Illodin, understand dev has instamined alot of coin.

https://bitcointalk.org/index.php?topic=421615.msg4595573#msg4595573
From this list of nodes, at 8h34 am (4h40 after launch) there were 50 Amazon AWS node and 50 microsoft cloud computing instamining DRK (checked using IP whois service). This is 100/124 nodes using cloud computing to instamine DRK. We are at block 2870 and block reward is 500. From block 1153-1729 block reward is 277. After that it is 500 again hence 2294 block at 500 + 576 at 277 = 1306552 DRK (worth about 100M$ now) were instamined in less than 5 hour by Edufield and coworkers using about 100 cloud mining instances. Edufield himself instamined in not even 5 h from 600K to 1169K DRK ((1306K-600K)*100/124 + 600K) depending how many of the 100 cloud mining instance were its own. All this while having purposefully set the difficult ridiculously low and block reward 100 times what it is now.


SCAM = unfair and dishonest scheme = dash


This latest defence is so strange. Where are the victims ? what are you talking about it is there in black and white.

1. everyone who was told it was a fair launch LIKE ALL THE OTHER LAUNCHES AT THE TIME. - then prevented from mining fairly = scammed
2. everyone who was told there would be much more opportunity to mine ( then that got slashed by 75%) - prevented from mining the coins that were then taken away = scammed.

here are your victims.

3. everyone buying now thinking dash can go somewhere not knowing the scam it is will forever hold it back = being scammed.


Every dasher on here trying to scam others into supporting your scam = scammers.

I will be updating my scammers thread to add all of your names to it.

Denying a scam after it is proven time and time again to you in black and white = scam enabler and defender = scammer.


Threads examining the evidence of the captive instamine and reduction of the minting to magnify such instamining ...PROOF OF SCAM

https://bitcointalk.org/index.php?topic=999886.0

https://bitcointalk.org/index.php?topic=560138.0

https://bitcointalk.org/index.php?topic=559028.0

https://bitcointalk.org/index.php?topic=995710.0

https://bitcointalk.org/index.php?topic=999084.0

https://bitcointalk.org/index.php?topic=560138.0

[catoshi]

Very good points about the Dash Scam.

is Poloniex a scam exchange? They seem to be running a bot that is manipulating prices

[dinofelis]

Your argument isn't even competent, sign of a true scam artist. 

I think you didn't understand a word of what I have been writing.   In other words: outside of crypto, in a trusted setting, of course DASH is a scam.  But in crypto, scamming one another is the basis axiom, because that's what trustlessness implies.  Trustlessness means that all other agents out there are not to be trusted (scammers).  Now, trustlessness implies not only that one should try to scam one another for consensus to be able to emerge, but on top of that, is an essentially silly exercise, because true trustlessness involves such a burden that you get nowhere.  As such, DASH is the perfect compromise: it scams people (and is hence perfectly all right in crypto: that's the goal) by NOT being a true crypto and by not being truly based upon trustlessness, while it makes you think so and hence, doesn't suffer the burden of true trustlessness.  That's simply brilliant.

[dinofelis]

is Poloniex a scam exchange?

One surely hopes so.  Otherwise it has nothing to do in crypto.

[housebtc]

Very good points about the Dash Scam.

is Poloniex a scam exchange? They seem to be running a bot that is manipulating prices

I think you nail this on the head, the exchanges are responsible for most of this pump, when their Bots start this Fomo,it is just like a drug, I can see only one winner here, the exchanges because in both direction they will collect their transaction fee

[generalizethis]

Very good points about the Dash Scam.

is Poloniex a scam exchange? They seem to be running a bot that is manipulating prices

I think you nail this on the head, the exchanges are responsible for most of this pump, when their Bots start this Fomo,it is just like a drug, I can see only one winner here, the exchanges because in both direction they will collect their transaction fee

In the gold rush, it was those selling goods and services who made the easy money and made it consistently.

[Piston Honda]

polo = cartel who pick/choose their coins and work with whales and big coins (devs) to get their bots pumping WHEN the time is right.  end of story.  great for insider biz of theirs to make them and ppl money.  catch out the silly suckers who buy way to high.  but nice for riding the waves to trade.  dash = another one just like eth last year, same with xmr.

[BitcoinNational]

dash trading x1000 on the XMR platform is LOLz enough.