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Author Topic: [ANN][PWC: PREMINE ALERT][Proof inside]Powercoin was PREMINED for 56.000 coins  (Read 3121 times)
Boxman90
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May 14, 2013, 01:02:03 AM
 #1

So, when I was lucky enough to be at the launch of an altcoin, I found it strange that I had to synch nearly 2000 blocks while I joined in merely 10 minutes after the forum release.

Today I spent all day setting up Abe's blockexplorer and I did some digging in the Powercoin blockchain. I sourced the blocknumber @ the releasetime, which was 1:55:59 UTC.

The dev (NMO) kept insisting there was no premine. While in fact 56K coins were premined.

I tried to get him to discredit himself by asking for a bribe, but he didn't bite to that. He insisted it was not a premine and was not intended as such. He will probably keep saying this this was "not a premine". LOL.

Ah well, let the proof speak for itself:



EXTRA FACT
- The linux compile was botched beyond repair and could not be compiled without serious knowledge of the code. It still cannot. Linux users were heavily hindered. NWO was ready and has admitted that he would mine from release - the linux botching might have been on purpose so that he had more time to reap the benefits of the early easy difficulty. This is mere speculation of course, but as more things are fishy, this is a viable option.


Also, I did manage to mine 6K during the low difficulty, but the premine made me think of them as worthless. I have no issues discrediting this filthy premined junkcoin clone.

//edit
This just in: NWO plans to sue me for uncovering his uncomfortable truth
Quote
Stop getting so defensive. I have everything documented and it is going to the law firm this afternoon. You rattled the wrong hornets nest.

You threaten to deface a brand by extorting me yet now try and make out you are not doing that. I'm collecting your IP and email from admin as we speak.

LTC: LKKy4eDWyVtSrQAJy7Qmmz61RaFY91D9yC   BTC: 18fzdnCkuUNthCD8hM36UBGopFa9ij78gG
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kooke
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May 14, 2013, 01:03:40 AM
 #2

Another scam coin bites the dust Tongue

wesleyrbk
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May 14, 2013, 01:04:54 AM
 #3

Yeah already saw something shady when I was one of the first miners and saw that about 1000 blocks were already mined.
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May 14, 2013, 01:05:36 AM
 #4

Most people new powercoin was worthless, after the first day of mining

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May 14, 2013, 01:05:50 AM
 #5

It was already dead minutes after launch. The author got called out for lying about it being confirmed on BTER. One of the worst coin launches ever...
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May 14, 2013, 01:07:05 AM
 #6


//edit
This just in: NWO plans to sue me for uncovering his uncomfortable truth
Quote
Stop getting so defensive. I have everything documented and it is going to the law firm this afternoon. You rattled the wrong hornets nest.

You threaten to deface a brand by extorting me yet now try and make out you are not doing that. I'm collecting your IP and email from admin as we speak.


Bwhaha how old is this guy?
fenican
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May 14, 2013, 01:15:11 AM
 #7

LOL at the notion that any of these scam coins (copy/paste LTC forks) are a "brand"
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May 14, 2013, 01:17:43 AM
 #8

Nice bit of detective work there Boxman90!!! Smiley

BTC:   18jdvLeM6r943eUY4DEC5B9cQZPuDyg4Zn     LTC:   LeBh9akQ3RwxwpUU6pJQ9YGs9PrC1Zc9BK
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May 14, 2013, 01:18:27 AM
 #9

The OP tried to extort NWO: "Send me coins or I will make slanderous posts!"
This is illegal, it is extortion. Under no circumstance it is permissible.
It doesn't even matter whether his so called evidence materials hold water.
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May 14, 2013, 01:19:06 AM
 #10


//edit
This just in: NWO plans to sue me for uncovering his uncomfortable truth
Quote
Stop getting so defensive. I have everything documented and it is going to the law firm this afternoon. You rattled the wrong hornets nest.

You threaten to deface a brand by extorting me yet now try and make out you are not doing that. I'm collecting your IP and email from admin as we speak.


Bwhaha how old is this guy?

Incredible. He should just let it die at this point before he creates even more of an embarrassment for himself.
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fml


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May 14, 2013, 01:20:54 AM
 #11


//edit
This just in: NWO plans to sue me for uncovering his uncomfortable truth
Quote
Stop getting so defensive. I have everything documented and it is going to the law firm this afternoon. You rattled the wrong hornets nest.

You threaten to deface a brand by extorting me yet now try and make out you are not doing that. I'm collecting your IP and email from admin as we speak.


Bwhaha how old is this guy?

He must be american. A Brand is not A brand, unless it is trademarked, for starters. And even if that was the case, he copied someone else's code, made a couple changes, and claimed it as his own Roll Eyes

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May 14, 2013, 01:32:31 AM
 #12

The OP tried to extort NWO: "Send me coins or I will make slanderous posts!"
This is illegal, it is extortion. Under no circumstance it is permissible.
It doesn't even matter whether his so called evidence materials hold water.

Well I am pretty sure NWO is guilty of misleading investors (miners) as well, as the original version of the announcement post claimed that the coin was pre-approved to be listed on BTER, which was soon after discredited by the BTER admin. Maybe the SEC or someone (probably the equivalent agency of NWO's home country) would be interested in this, as they are already on record that they need to get into crypto-currency regulations. And yes, early miners should be classified as investors since time and effort, pointing hashpower to a coin in hopes of higher return, would be considered as the investment.

BTC:   18jdvLeM6r943eUY4DEC5B9cQZPuDyg4Zn     LTC:   LeBh9akQ3RwxwpUU6pJQ9YGs9PrC1Zc9BK
Number6
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May 14, 2013, 01:35:57 AM
 #13

Also, for the record, I am not defending either party, if they both broke the law, they should both suffer the consequences.

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NWO
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May 14, 2013, 01:38:40 AM
 #14


//edit
This just in: NWO plans to sue me for uncovering his uncomfortable truth
Quote
Stop getting so defensive. I have everything documented and it is going to the law firm this afternoon. You rattled the wrong hornets nest.

You threaten to deface a brand by extorting me yet now try and make out you are not doing that. I'm collecting your IP and email from admin as we speak.


Bwhaha how old is this guy?

He must be american. A Brand is not A brand, unless it is trademarked, for starters. And even if that was the case, he copied someone else's code, made a couple changes, and claimed it as his own Roll Eyes

We are looking to trademark PowerCoin and bring it to the wider community. The code is open source... No further explanation required.

From the top of my head. Bitcoin was instamined, Novacoin was raped by premine, ChinaCoin had 2200 blocks mined before anyone here touched it, yac was found to heavily favour Linux users and was instamined... Must I got on. These coins are still on exchanges and are being traded as we speak. THIS IS NO REVELATION.

The 'premine' is VERY insignificant if you actually saw how spread out the amount was as it was used for payment on the coin itself, website, wiki, BOUNTIES. A lot of that is going into the generation of bounties to further grow PowerCoin as a viable currency alternative.

OP is blowing steam out of his **** with the Linux accusation, the development team solely focused on a Windows client (the majority).

As for the etiquette of the OP. He threatened to extort me for PWC (ironic isn't it) to not expose his findings. In other words I am taking this very seriously. Screenshots are being compiled as we speak.

In regards to the BTER (epic fail) that was a huge miscommunication/ lie from a Chinese national who thought he was admin...
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May 14, 2013, 01:39:41 AM
 #15

1) The only person involved in immoral behavior here is the OP who tried to extort NWO: give me money or I will make your coin look bad. This is not only immoral, but illegal, it's a crime known as blackmail or extortion.

2) Even if there was a minuscule premine (which I doubt), but even if the OP was right, 55000 coins out of 100 million, it's a drop in the Ocean that NWO keeps giving in bounties and giveaways. A complete non-issue.

3) The BTER fiasco was my fault as I admitted before. I was in contact with some guy from Shanghai, China, who supposedly is in the BTER team and he said "Yeah, sure we will add it!" when I explained the Powercoin project to him.
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May 14, 2013, 01:40:46 AM
 #16

Great job

also if he was extorting why would he release details, then he would lose his leverage

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wesleyrbk
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May 14, 2013, 01:41:49 AM
 #17


As for the etiquette of the OP. He threatened to extort me for PWC (ironic isn't it) to not expose his findings. In other words I am taking this very seriously. Screenshots are being compiled as we speak.

In regards to the BTER (epic fail) that was a huge miscommunication/ lie from a Chinese national who thought he was admin...


alex_fun
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May 14, 2013, 01:41:56 AM
 #18

lol well spotted :d

Hydroponica
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fml


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May 14, 2013, 01:47:40 AM
 #19


//edit
This just in: NWO plans to sue me for uncovering his uncomfortable truth
Quote
Stop getting so defensive. I have everything documented and it is going to the law firm this afternoon. You rattled the wrong hornets nest.

You threaten to deface a brand by extorting me yet now try and make out you are not doing that. I'm collecting your IP and email from admin as we speak.


Bwhaha how old is this guy?

He must be american. A Brand is not A brand, unless it is trademarked, for starters. And even if that was the case, he copied someone else's code, made a couple changes, and claimed it as his own Roll Eyes

We are looking to trademark PowerCoin and bring it to the wider community. The code is open source... No further explanation required.

From the top of my head. Bitcoin was instamined, Novacoin was raped by premine, ChinaCoin had 2200 blocks mined before anyone here touched it, yac was found to heavily favour Linux users and was instamined... Must I got on. These coins are still on exchanges and are being traded as we speak. THIS IS NO REVELATION.

The 'premine' is VERY insignificant if you actually saw how spread out the amount was as it was used for payment on the coin itself, website, wiki, BOUNTIES. A lot of that is going into the generation of bounties to further grow PowerCoin as a viable currency alternative.

OP is blowing steam out of his **** with the Linux accusation, the development team solely focused on a Windows client (the majority).

As for the etiquette of the OP. He threatened to extort me for PWC (ironic isn't it) to not expose his findings. In other words I am taking this very seriously. Screenshots are being compiled as we speak.

In regards to the BTER (epic fail) that was a huge miscommunication/ lie from a Chinese national who thought he was admin...

Dude, it's over. Noone wants to mine your coin, noone wants to buy your coin....Let it go....Feel free to attempt to sue me...I'm Canadian, so, even if you had a trademark, it wouldn't be valid here anyways. And I seriously doubt the admin of these forums, are handing out personal information about their members Roll Eyes

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May 14, 2013, 01:48:51 AM
 #20


//edit
This just in: NWO plans to sue me for uncovering his uncomfortable truth
Quote
Stop getting so defensive. I have everything documented and it is going to the law firm this afternoon. You rattled the wrong hornets nest.

You threaten to deface a brand by extorting me yet now try and make out you are not doing that. I'm collecting your IP and email from admin as we speak.


Bwhaha how old is this guy?

He must be american. A Brand is not A brand, unless it is trademarked, for starters. And even if that was the case, he copied someone else's code, made a couple changes, and claimed it as his own Roll Eyes

We are looking to trademark PowerCoin and bring it to the wider community. The code is open source... No further explanation required.

From the top of my head. Bitcoin was instamined, Novacoin was raped by premine, ChinaCoin had 2200 blocks mined before anyone here touched it, yac was found to heavily favour Linux users and was instamined... Must I got on. These coins are still on exchanges and are being traded as we speak. THIS IS NO REVELATION.

The 'premine' is VERY insignificant if you actually saw how spread out the amount was as it was used for payment on the coin itself, website, wiki, BOUNTIES. A lot of that is going into the generation of bounties to further grow PowerCoin as a viable currency alternative.

OP is blowing steam out of his **** with the Linux accusation, the development team solely focused on a Windows client (the majority).

As for the etiquette of the OP. He threatened to extort me for PWC (ironic isn't it) to not expose his findings. In other words I am taking this very seriously. Screenshots are being compiled as we speak.

In regards to the BTER (epic fail) that was a huge miscommunication/ lie from a Chinese national who thought he was admin...

Dude, it's over. Noone wants to mine your coin, noone wants to buy your coin....Let it go

There are 2 pools and one Google Docs Exchange thread so people obviously do want to.
Go troll somewhere else.
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