Realsolid and MNC a scam? Serious?

[zacho56]

If you honestly and truly in your hearts believe that Mincoin and Realsolid are a scam"club". You are severely delusional. People that believe this are either jealous or mad because they never got in on the bonus at the beginning. I have been part of MNC after the bonuses. And i am now 4x my profit. And I suppose becuase I say that i'm a "conspirator" aswell?

JS

Zacho

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[syn999]

no matter if its scamcoin or whatever, as long no virus or malware , ppl going to mine them

[Dacm4n]

If you honestly and truly in your hearts believe that Mincoin and Realsolid are a scam"club". You are severely delusional. People that believe this are either jealous or mad because they never got in on the bonus at the beginning. I have been part of MNC after the bonuses. And i am now 4x my profit. And I suppose becuase I say that i'm a "conspirator" aswell?

JS

Zacho

Most of the hate towards Realsolid comes from his attitude during the launch of SC 1.0 and 2.0, He came across as being really arrogant to a lot of people. He didn't actually scam anyone to my knowledge.

[spoid]

Hm, over in the exchange chat he seems really helpful.

[centenary]

During the first three days of MinCoin mining, 936,000 coins were mined.  After another month of mining, there are roughly a million coins in existence right now.  This means that 88% of all current coins were mined within the first three days.  Here's a recent screenshot from their exchange stating so: https://i.imgur.com/WNjZtNa.png

Is MinCoin a scam?  You should decide that for yourself.  But if miners think they're going to earn a significant amount of MinCoins at this point, they're kidding themselves.

MinCoin supporters will tell you that the 936,000 coins mined during the first three days added a ton of liquidity to the market.  That's probably true, but it's also probably true that the majority of the 936,000 coins mined during those three days are currently being hoarded, waiting for the price of MinCoins to increase.  No one has been able to prove otherwise.  If the price of MinCoins doesn't increase, the 936,000 coins mined during the first three days are worth over $230,000.  If people start to buy into MinCoins, this value will increase.  You decide for yourself whether you believe that the developers and early miners are entitled to 88% of the current MinCoin market.

[centenary]

During the first three days of MinCoin mining, 936,000 coins were mined.  After another month of mining, there are roughly a million coins in existence right now.  This means that 88% of all current coins were mined within the first three days.  Here's a recent screenshot from their exchange stating so: https://i.imgur.com/WNjZtNa.png

Is MinCoin a scam?  You should decide that for yourself.  But if miners think they're going to earn a significant amount of MinCoins at this point, they're kidding themselves.

MinCoin supporters will tell you that the 936,000 coins mined during the first three days added a ton of liquidity to the market.  That's probably true, but it's also probably true that the majority of the 936,000 coins mined during those three days are currently being hoarded, waiting for the price of MinCoins to increase.  No one has been able to prove otherwise.  If the price of MinCoins doesn't increase, the 936,000 coins mined during the first three days are worth over $230,000.  If people start to buy into MinCoins, this value will increase.  You decide for yourself whether you believe that the developers and early miners are entitled to 88% of the current MinCoin market.

Do you not have basic math skills?

And what exactly is wrong with my math?

If you don't believe that 936,000 coins were mined in the first three days, do the math yourself.  During the first day, 500 MinCoins were awarded per block.  During the second day, 100 MinCoins were awarded per block.  During the third day, 50 MinCoins were awarded per block.  There are 1440 blocks per day, so the number of coins mined in the first three days works out to 936,000 MinCoins.

Since then, 2 MinCoins have been awarded per block.  There are 1440 blocks per day and there have been about ~36 days since the above awards ended.  That means roughly 105,000 coins since those first three days.

This math easily shows that the majority of all coins were mined in the first three days.  So again, what exactly is wrong with my math?  And if you don't believe this math, why don't you go into the exchange and ask around whether the 88% figure is correct.  The user 'happyolive' from the exchange readily admitted that this was true.  Everyone knows that the first three days were a mining bonanza.

Again, I'm not going to claim that MinCoin is a scam.  People should decide that for themselves once given the facts.

[stevenh512]

Early miners are hoarding the coins?

It's true that 936,000 coins were mined in the first three days, I won't dispute that, and nobody hid that fact when the coin was announced.. but that tells half the story.

I personally watched over 400,000 coins dumped at 0.001btc several days ago, those coins (or the majority of them) had to have come from early miners. It's mathematically impossible for that many coins to have come from anywhere else. That's almost half of your "hoarded" coins right there basically given away to anyone who wanted to pick them up. When you combine that with several other early dumps that happened on mcxnow it's pretty clear that if anyone is hoarding the majority of those 936,000 coins it's not the early miners.. it's people who actually bought them. The difference is, unlike some of the other altcoins, MinCoin bounced back from the big early miner dumps and actually managed to hold a steady price afterwards.

I didn't get in on the early mining, but unlike so many others I'm not bitter about that. Only 10,000,000 coins will ever be mined, that's less than some coins create in a single year. MinCoin may fail, that's always a possibility with anything (especially altcoins), but if it survives I'd think something so scarce would have to go up in value over time.

[edit: corrected a typo]

[jrlepage]

During the first three days of MinCoin mining, 936,000 coins were mined.  After another month of mining, there are roughly a million coins in existence right now.  This means that 88% of all current coins were mined within the first three days.  Here's a recent screenshot from their exchange stating so: https://i.imgur.com/WNjZtNa.png

Is MinCoin a scam?  You should decide that for yourself.  But if miners think they're going to earn a significant amount of MinCoins at this point, they're kidding themselves.

MinCoin supporters will tell you that the 936,000 coins mined during the first three days added a ton of liquidity to the market.  That's probably true, but it's also probably true that the majority of the 936,000 coins mined during those three days are currently being hoarded, waiting for the price of MinCoins to increase.  No one has been able to prove otherwise.  If the price of MinCoins doesn't increase, the 936,000 coins mined during the first three days are worth over $230,000.  If people start to buy into MinCoins, this value will increase.  You decide for yourself whether you believe that the developers and early miners are entitled to 88% of the current MinCoin market.

Come over and see all the activity on the exchange and see if you still think they're being hoarded. Lots of activity and volume being traded from what I have seen.

Fact is, many of those who mined early also wanted to sell early because many of them thought it would be another super fast pump & dump.

[Buffer Overflow]

 I think it's best to give anything Solidcoin related a wide berth.

[centenary]

During the first three days of MinCoin mining, 936,000 coins were mined.  After another month of mining, there are roughly a million coins in existence right now.  This means that 88% of all current coins were mined within the first three days.  Here's a recent screenshot from their exchange stating so: https://i.imgur.com/WNjZtNa.png

Is MinCoin a scam?  You should decide that for yourself.  But if miners think they're going to earn a significant amount of MinCoins at this point, they're kidding themselves.

MinCoin supporters will tell you that the 936,000 coins mined during the first three days added a ton of liquidity to the market.  That's probably true, but it's also probably true that the majority of the 936,000 coins mined during those three days are currently being hoarded, waiting for the price of MinCoins to increase.  No one has been able to prove otherwise.  If the price of MinCoins doesn't increase, the 936,000 coins mined during the first three days are worth over $230,000.  If people start to buy into MinCoins, this value will increase.  You decide for yourself whether you believe that the developers and early miners are entitled to 88% of the current MinCoin market.

Come over and see all the activity on the exchange and see if you still think they're being hoarded. Lots of activity and volume being traded from what I have seen.

Activity on the exchange doesn't really prove anything.  It shows that some coins are being exchanged, but not necessarily the coins mined during the first three days.  Also, the trade volume will include some of the same coins being traded multiple times throughout the day.

Let's look at the current sales.  Of the ~157,000 MinCoins available for sale right now, how many of them are near the current value of MinCoins?  Only a few percentage of them are.  The rest of them are hoping to sell at a significantly higher price.

[centenary]

Early miners are hoarding the coins?

It's true that 936,000 coins were mined in the first three days, I won't dispute that, and nobody hid that fact when the coin was announced.. but that tells half the story.

I personally watched over 400,000 coins dumped at 0.001btc several days ago, those coins (or the majority of them) had to have come from early miners. It's mathematically impossible for that many coins to have come from anywhere else. That's almost half of your "hoarded" coins right there basically given away to anyone who wanted to pick them up. When you combine that with several other early dumps that happened on mcxnow it's pretty clear that if anyone is hoarding the majority of those 936,000 coins it's not the early miners.. it's people who actually bought them. The difference is, unlike some of the other altcoins, MinCoin bounced back from the big early miner dumps and actually managed to hold a steady price afterwards.

I didn't get in on the early mining, but unlike so many others I'm not bitter about that. Only 10,000,000 coins will ever be mined, that's less than some coins create in a single year. MinCoin may fail, that's always a possibility with anything (especially altcoins), but if it survives I'd think something so scarce would have to go up in value over time.

[edit: corrected a typo]

If you can provide evidence of this dump, then please do so, it would help significantly for the credibility of MinCoins.  Until then, nothing personal, but I have to doubt that it happened.  It's currently just your word against the known facts.

[Starlightbreaker]

During the first three days of MinCoin mining, 936,000 coins were mined.  After another month of mining, there are roughly a million coins in existence right now.  This means that 88% of all current coins were mined within the first three days.  Here's a recent screenshot from their exchange stating so: https://i.imgur.com/WNjZtNa.png

Is MinCoin a scam?  You should decide that for yourself.  But if miners think they're going to earn a significant amount of MinCoins at this point, they're kidding themselves.

MinCoin supporters will tell you that the 936,000 coins mined during the first three days added a ton of liquidity to the market.  That's probably true, but it's also probably true that the majority of the 936,000 coins mined during those three days are currently being hoarded, waiting for the price of MinCoins to increase.  No one has been able to prove otherwise.  If the price of MinCoins doesn't increase, the 936,000 coins mined during the first three days are worth over $230,000.  If people start to buy into MinCoins, this value will increase.  You decide for yourself whether you believe that the developers and early miners are entitled to 88% of the current MinCoin market.

that sounds like solidcoin v2.

dig around a bit, and you'll find the similarities..and it already failed, twice.

[TheDarKnight]

I reached this post through a Google search for "realsolid" ...

I was on mcxnow.con, where I have placed unfortunately too much 3-4 BTC money into the scamcoins WDC and MNC (MinCoin) I am going to extract my dosh asap...

After quibbling about my woes in their forum I was who then bragged about having invested in at .0003, after which I inquired as to whether he also happened to be running the site, to which he replied immediately arrogantly and in the affirmative...

I have had enough of all these scamcoins, here is my list of all those I have lost money on; MinCoin, WorldCoin, BQCoin, IxCoin,ChinaCoin, FeatherCoin, IxCoin and of course, SolidCoin. The lattermost of which also happens to share its initials with ScamCoin (SC), no strange coinidence. After mentioning my loss of money to FeatherCon (sic) in conversation I was smartly mocked by realsolid himself, ahhh how sympathetic.

also this: http://www.fantasypublishings.com/btcInfo/Alternate_cryptocurrencies/Microcash_scam_perpetrated_by_Realsolid_newPage18429.php

Microcash scam perpetrated by Realsolid
1. Realsolid promised to release Microcash.
2. Then he went silent.
3. Then those who believe in the project started asking on the microcash forum when it would be released.
4. Realsolid said he was not doing well financially and stated that if 250 BTC be given to him he could finish the project and have it released.
5. Those who believed rallied and came up with at least 250btc and sent it to Realsolid.
6. RS put up a nice shiny front page with a rocket and $ sign for Microcash...
7. RS made promises that it would be released weeks after getting the 250 BTC.
8. Months (3 at least) later nothing has been released nor has anyone heard from RS publicly.
9. What a crock of scam lol.  Grin Grin Grin
lesson to be learned. dont invest in someone setting up a financial business.. if they cannot handle their own funds professionally to be in profit to self fund. then you should not trust them to invest in them or to use /trust them once the business is established.

if they havnt got $3000 to rub between their own fingers to start with, you shouldn't trust them with yours
Quote from: franky1 on December 29, 2012, 09:39:45 PM
lesson to be learned. dont invest in someone setting up a financial business.. if they cannot handle their own funds professionally to be in profit to self fund. then you should not trust them to invest in them or to use /trust them once the business is established.

if they havnt got $3000 to rub between their own fingers to start with, you shouldn't trust them with yours

+1
I'd love to see MicroCash turn up. There are still a few people waiting for the MC mothership to turn up and take them away to their MC mansions Smiley
it was obviously a scam from the beginning.

[podizzle]

I reached this post through a Google search for "realsolid" ...

I was on mcxnow.con, where I have placed unfortunately too much 3-4 BTC money into the scamcoins WDC and MNC (MinCoin) I am going to extract my dosh asap...

After quibbling about my woes in their forum I was who then bragged about having invested in at .0003, after which I inquired as to whether he also happened to be running the site, to which he replied immediately arrogantly and in the affirmative...

I have had enough of all these scamcoins, here is my list of all those I have lost money on; MinCoin, WorldCoin, BQCoin, IxCoin,ChinaCoin, FeatherCoin, IxCoin and of course, SolidCoin. The lattermost of which also happens to share its initials with ScamCoin (SC), no strange coinidence. After mentioning my loss of money to FeatherCon (sic) in conversation I was smartly mocked by realsolid himself, ahhh how sympathetic.

also this: http://www.fantasypublishings.com/btcInfo/Alternate_cryptocurrencies/Microcash_scam_perpetrated_by_Realsolid_newPage18429.php

Microcash scam perpetrated by Realsolid
1. Realsolid promised to release Microcash.
2. Then he went silent.
3. Then those who believe in the project started asking on the microcash forum when it would be released.
4. Realsolid said he was not doing well financially and stated that if 250 BTC be given to him he could finish the project and have it released.
5. Those who believed rallied and came up with at least 250btc and sent it to Realsolid.
6. RS put up a nice shiny front page with a rocket and $ sign for Microcash...
7. RS made promises that it would be released weeks after getting the 250 BTC.
8. Months (3 at least) later nothing has been released nor has anyone heard from RS publicly.
9. What a crock of scam lol.  Grin Grin Grin
lesson to be learned. dont invest in someone setting up a financial business.. if they cannot handle their own funds professionally to be in profit to self fund. then you should not trust them to invest in them or to use /trust them once the business is established.

if they havnt got $3000 to rub between their own fingers to start with, you shouldn't trust them with yours
Quote from: franky1 on December 29, 2012, 09:39:45 PM
lesson to be learned. dont invest in someone setting up a financial business.. if they cannot handle their own funds professionally to be in profit to self fund. then you should not trust them to invest in them or to use /trust them once the business is established.

if they havnt got $3000 to rub between their own fingers to start with, you shouldn't trust them with yours

+1
I'd love to see MicroCash turn up. There are still a few people waiting for the MC mothership to turn up and take them away to their MC mansions Smiley
it was obviously a scam from the beginning.

So every coin you lose money isa scam? Maybe you just area horrible trader

[TheSwede75]

MNC is, was and will always be a scam. I think the fact that they had to set up their own exchange for it (no other exchange would touch it) is pretty solid circumstantial evidence. The pre/Instamine of 90% of coin supply just makes it worse, and the fact that everyone in the Mincoin 'inner circle' spams the forums, trollbox etc. daily is just icing on the cake.

[TheDarKnight]

I reached this post through a Google search for "realsolid" ...

I was on mcxnow.con, where I have placed unfortunately too much 3-4 BTC money into the scamcoins WDC and MNC (MinCoin) I am going to extract my dosh asap...

After quibbling about my woes in their forum I was who then bragged about having invested in at .0003, after which I inquired as to whether he also happened to be running the site, to which he replied immediately arrogantly and in the affirmative...

I have had enough of all these scamcoins, here is my list of all those I have lost money on; MinCoin, WorldCoin, BQCoin, IxCoin,ChinaCoin, FeatherCoin, IxCoin and of course, SolidCoin. The lattermost of which also happens to share its initials with ScamCoin (SC), no strange coinidence. After mentioning my loss of money to FeatherCon (sic) in conversation I was smartly mocked by realsolid himself, ahhh how sympathetic.

also this: http://www.fantasypublishings.com/btcInfo/Alternate_cryptocurrencies/Microcash_scam_perpetrated_by_Realsolid_newPage18429.php

Microcash scam perpetrated by Realsolid
1. Realsolid promised to release Microcash.
2. Then he went silent.
3. Then those who believe in the project started asking on the microcash forum when it would be released.
4. Realsolid said he was not doing well financially and stated that if 250 BTC be given to him he could finish the project and have it released.
5. Those who believed rallied and came up with at least 250btc and sent it to Realsolid.
6. RS put up a nice shiny front page with a rocket and $ sign for Microcash...
7. RS made promises that it would be released weeks after getting the 250 BTC.
8. Months (3 at least) later nothing has been released nor has anyone heard from RS publicly.
9. What a crock of scam lol.  Grin Grin Grin
lesson to be learned. dont invest in someone setting up a financial business.. if they cannot handle their own funds professionally to be in profit to self fund. then you should not trust them to invest in them or to use /trust them once the business is established.

if they havnt got $3000 to rub between their own fingers to start with, you shouldn't trust them with yours
Quote from: franky1 on December 29, 2012, 09:39:45 PM
lesson to be learned. dont invest in someone setting up a financial business.. if they cannot handle their own funds professionally to be in profit to self fund. then you should not trust them to invest in them or to use /trust them once the business is established.

if they havnt got $3000 to rub between their own fingers to start with, you shouldn't trust them with yours

+1
I'd love to see MicroCash turn up. There are still a few people waiting for the MC mothership to turn up and take them away to their MC mansions Smiley
it was obviously a scam from the beginning.

So every coin you lose money isa scam? Maybe you just area horrible trader

Oh so anyone who complains about ScamCoins is automatically just a whinger. Why did you quote all my text just to say that, thanks for being specific..

[TheDarKnight]

MNC is, was and will always be a scam. I think the fact that they had to set up their own exchange for it (no other exchange would touch it) is pretty solid circumstantial evidence. The pre/Instamine of 90% of coin supply just makes it worse, and the fact that everyone in the Mincoin 'inner circle' spams the forums, trollbox etc. daily is just icing on the cake.

Some main points there that, foolish people like me who wanted to make it rich quick, had the capability of assessing, yet rushed in because it was just too tempting, surely enough is enough with these "silly" coins...to put a kind spin on it.