CHNCoin - A social experiment?

[thaile4ever]

I imagine the person who released this coin is sitting back and laughing his ass off at all the lemming who jumps at the chance to mine a coin with zero information at all.  Why go through an effort to pump a coin up yourself,  if all you have to do is release one and let other people waste their time doing it for you and then reap the benefit yourself.

Lets looks at some facts about this CHNCoin.

The member who release the coin created the account the day before and has only  7 post.  5 post to get out of the Newbie area.  1 Post in the Chinese forum area 4hrs before another post in the Alt Crypto Forum.  During which over 1000 blocks had been mined already.

Does it offer anything innovative over litecoin?  Nope.

Do we know who even made the coin? Nope, there has been no information on the developer at all.  The fact that the Linux version wasn't compile correct shows just how much effort they put into making the coin.

If this is what happens every time a new coin is released then I feel that the crypto-currencies as a whole are bound the fail.

[noyvpom]

Imagine if all previous coins were mostly in china, and someone released a USA coin, boom hashrate

[IlbiStarz]

At least the FeatherCoin release was better. The dev was posting here, there was a big bounty thread, etc. This was just kind of...embarrassing. People rushing to mine a coin that was already premined at has even LESS behind it compared to other altcoins. At least try if you want to release a new coin.

[js2082]

Well, don't think it too serious, think it as a game. It's fun...

[Eric Rye]

Well, don't think it too serious, think it as a game. It's fun...

A very, very profitable game. I'm enjoying it a lot.

[relm9]

The Linux version compiles just fine. I pulled it from git at release with no issues

I think it's too early to call judgment on this CHNCoin. Feathercoin release was handled better, yes, though to be honest there wasn't even a working site from day one and the initial coin icon was ripped from some jewelry shop. Doesn't exactly scream effort either, though I respect the dev for getting involved and creating bounties.

[CoinHoarder]

Imagine if all previous coins were mostly in china, and someone released a USA coin, boom hashrate

I would totally back a USA crypto currency. I would hope that it is more innovative than the previous copy cat chains, but I would still back it anyways.

It would be cool to tie in a democratic type voting system like I have seen people talk about for new coin ideas. I'm not sure exactly what we would vote on though rofl. Maybe have monthly voting on the rate of inflation? the percent of demurrage? the rate at which coins are minted? transaction fees? etc?

[thaile4ever]

The Linux version compiles just fine. I pulled it from git at release with no issues

I think it's too early to call judgment on this CHNCoin. Feathercoin release was handled better, yes, though to be honest there wasn't even a working site from day one and the initial coin icon was ripped from some jewelry shop. Doesn't exactly scream effort either, though I respect the dev for getting involved and creating bounties.

If you pulled it from git then you compiled it yourself.  The precompiled version from sourceforge doesn't.

[relm9]

The Linux version compiles just fine. I pulled it from git at release with no issues

I think it's too early to call judgment on this CHNCoin. Feathercoin release was handled better, yes, though to be honest there wasn't even a working site from day one and the initial coin icon was ripped from some jewelry shop. Doesn't exactly scream effort either, though I respect the dev for getting involved and creating bounties.

If you pulled it from git then you compiled it yourself.  The precompiled version from sourceforge doesn't.

Correct... misread what you said then, my bad.

[md34ma]

Seriously? CHNCoin has its own website

It has google docs exchange.

Already there are lots of people buying it.

Soon it will have a new logo.

And the dev will surely come back and keep on posting.

[jarias]

Seriously? CHNCoin has its own website

It has google docs exchange.

Already there are lots of people buying it.

Soon it will have a new logo.

And the dev will surely come back and keep on posting.

How many CHNcoins you got? One millon? You're promoting it more than the original developer

[md34ma]

My dad is chinese!

[MarKusRomanus]

maybe Walmart will pick it up as their first accepted ctyptocurrency.

[willhash4food]

Imagine if all previous coins were mostly in china, and someone released a USA coin, boom hashrate

I would totally back a USA crypto currency. I would hope that it is more innovative than the previous copy cat chains, but I would still back it anyways.

It would be cool to tie in a democratic type voting system like I have seen people talk about for new coin ideas. I'm not sure exactly what we would vote on though rofl. Maybe have monthly voting on the rate of inflation? the percent of demurrage? the rate at which coins are minted? transaction fees? etc?

MURICAA!! USACoin! USACoin! Who cares if it sucks? It's America, woooo!!

Why are so many people so trigger happy at the thought of turning cryptocoins into the failing fiat money we use today?

Smh

[thaile4ever]

A website really? A 1 page text site, that contains the identical information that was posted on the forum makes it a legit coin?  Tell me this. If you went through the effort to make a coin and a site wouldn't you at least put your name as a developer on the site?

The only name we see is this CHNCoin, which is probably a throw away account to hide the real person who made this coin.

The exchange and people buying are all people hoping to cash out on this new crazy.  I feel sorry for them since they're trading for coins that will have little to no value in a week.

One of the reason Bitcoin has any value is the perceived rarity of it.  It's hard to mine and there's only going to be so many so it must be worth something.  If there are new coins coming out every week that are identical, except in name then where the rarity?  Why should I mine 1 LTC a day when I can mine coin of the week x at 1000 a day.  All it's going to do is ruin the reputation of crypto-coins as a whole.

[dblink]

A website really? A 1 page text site, that contains the identical information that was posted on the forum makes it a legit coin?  Tell me this. If you went through the effort to make a coin and a site wouldn't you at least put your name as a developer on the site?

The only name we see is this CHNCoin, which is probably a throw away account to hide the real person who made this coin.

The exchange and people buying are all people hoping to cash out on this new crazy.  I feel sorry for them since they're trading for coins that will have little to no value in a week.

One of the reason Bitcoin has any value is the perceived rarity of it.  It's hard to mine and there's only going to be so many so it must be worth something.  If there are new coins coming out every week that are identical, except in name then where the rarity?  Why should I mine 1 LTC a day when I can mine coin of the week x at 1000 a day.  All it's going to do is ruin the reputation of crypto-coins as a whole.

If it's a pump and dump that will be forgotten in 2 weeks time, then that is ok. Because people will start learning what makes good alt coins that have a chance of lasting, and ones that just waste electricity.

[mobodick]

A website really? A 1 page text site, that contains the identical information that was posted on the forum makes it a legit coin?  Tell me this. If you went through the effort to make a coin and a site wouldn't you at least put your name as a developer on the site?

The only name we see is this CHNCoin, which is probably a throw away account to hide the real person who made this coin.

The exchange and people buying are all people hoping to cash out on this new crazy.  I feel sorry for them since they're trading for coins that will have little to no value in a week.

One of the reason Bitcoin has any value is the perceived rarity of it.  It's hard to mine and there's only going to be so many so it must be worth something.  If there are new coins coming out every week that are identical, except in name then where the rarity?  Why should I mine 1 LTC a day when I can mine coin of the week x at 1000 a day.  All it's going to do is ruin the reputation of crypto-coins as a whole.

If it's a pump and dump that will be forgotten in 2 weeks time, then that is ok.

But if it survives and becomes somehow usefull, then that is not ok?

[sikman]

they all started out as an experiment, will just have to wait and see

[Yurizhai]

It's a fucking chinese coin. The fact that you expect the same introduction as a native coin is absurd.

Face it. Just about anyone can make a coin now. They aren't all going to be high quality ventures.  Feathercoin was also a joke, a joke that was more accepted but a joke all the same.

[md34ma]

I'm gonna make a new coin tomorrow..
Ideas on name?