NVC: The biggest ongoing scam in cryptocoin history

[CoinBuzz]

Bitcoin and Novacoin is not comparable to each other. bitcoin was first coin that nobody knows what is mining.

Novacoin comes to world when everybody was ready to mine it the second it released.

[gurcani]

I agree with the post. NVC is a problem. It used to be that the volume was low (so I assume it was simply being exchanged among friends since there was no interest), but now you have a coin which is twice as valuable as LTC and as much exchange volume as NMC. And all because nobody cared about it. İf there was any interest in the beginning the price would be lower than PPC.

Now, what is the moral of the story. When FTC came out, I could clearly see it would be a pump and dump. I thought that it wouldn't be ethical to join that (my purpose in life is not to maximize my monetary gains). But now I wonder, maybe the people who did the pump and dump did a service to the community by destroying peoples collective trust in an untrustable coin.

I mean, looking at this, I am almost tempted to say that, the same thing may happen with the ORB if nobody does the pump and dump... rather depressing perspective...

[ilostcoins]

I'd say for a late comer like me, looking at a coin months or more after launch, a premine like Novacoin's hardly matter. The developers have a good amount, but so what? Some people have a good amount with other coins as well. It doesn't make any difference to a late comer. I could even argue the developer, not feeling the pressure to recoup the cost of a server farm used to mine that stash, may hold his nerve better with selling.

I think premine irks people on this forum because it may impact their initial gold rush profit. For a Novacoin size premine, it just doesn't change much in the long term.

[smoothie]

People should educate themselves on what they are investing in before they invest/purchase. That includes my coins that I sell as well. Do your due diligence people. 

[DigitalDoom]

People should educate themselves on what they are investing in before they invest/purchase. That includes my coins that I sell as well. Do your due diligence people. 

+1

The simple fact of the matter is that people should do the footwork before investing their money/time/efforts. Good advice for all things in life, whether it be investing in a currency, buying a new car, taking a new job or choosing a spouse.

All the information is available for every one of these (so-called) alt-coins. Anyone, whether crypto-vet or crypto-newbie, can find plenty of information to make as sound decisions as possible on any coin before deciding to invest their money/time/efforts. As with anything in life, when people make ignorant, in-the-moment choices based on what's "Hot"....they often end up getting burned. These are the lessons we all must learn, one way or another!

No one can blame the game for their losses when they don't bother taking the time to learn how to play. 

[aetos]

EXCHANGES ARE PART OF THE MANIPULATION..
 look  crypysy  /   especially with infinity coin:) 
than there was franko a dead coin with 1.2 mhs      and .000x something..  mods there pumped it. yes mods.. took it to .02 !!!!!!!!!!!
this is part of capitalism at its finest..    gambling at best. don't be a sorrow looser...      learn  to get on the trend as in all investments.. do not fight the  fed( foundation)  and let the trend be your friend

[FrictionlessCoin]

This is all fundamental economics... "supply and demand".

NVC folks are masterful in controlling supply,  for some reason demand is enough to push its price up.

Other coins that have too much supply, will go no where, because the reality is that right now,  almost every coin price is merely speculation (without any real world usage).

[lukemarshall]

The original post failed to mention that the interest rate on stake was jacked way the heck up into ponzi type interest rates kind of range a while back, to give the insiders insane amounts of interest on their huge holdings, and of course that is planned to be lowered back down once they have used it to magnify their own holdings so others going forward won't be getting such rates.

Basically they just screw around with it any way they please just like used to happen with SolidCoin.

-MarkM-

This right here is by far the worst.

http://nvc.cryptocoinexplorer.com/block/c7c90a2dd98e86664b206ad7fab812b4bbf437a32f3764e924cf6aeee98ec86f

[RoadTrain]

Huh guys. NVC has been a total profit for me for several months already.
I didn't mine it, just bought when nobody wanted to buy. Now I got almost 100% return on price plus ~20% on stake.
Yup, probably NVC isn't a coin that the world can accept, but it doesn't prevent me from using it with profit.
And you can't call it scam. Having premine is not a scam in general. Scam is dumping premine. That didn't happen yet nor I see it happening in the near future.

[EngMan]

People should educate themselves on what they are investing in before they invest/purchase. That includes my coins that I sell as well. Do your due diligence people. 

Agreed.

The risk of NVC is huge and I still can't see the value in it over LTC. As of now, per the dustcoin.com mining profitability calculator the total value of all NVC generated is ~17,155 BTC while for LTC it is ~513,111 BTC. LTC is much, much larger and not controlled by a very few who can destroy it easily like NVC, IMO.

LTC is a safer bet for me.

[EngMan]

Also, if you check out the Buy/Sell orderbook depth at BTC-e...that is pocket change for NVC compared to LTC.

[Lauda]

People should educate themselves on what they are investing in before they invest/purchase. That includes my coins that I sell as well. Do your due diligence people. 

Agreed.

The risk of NVC is huge and I still can't see the value in it over LTC. As of now, per the dustcoin.com mining profitability calculator the total value of all NVC generated is ~17,155 BTC while for LTC it is ~513,111 BTC. LTC is much, much larger and not controlled by a very few who can destroy it easily like NVC, IMO.

LTC is a safer bet for me.

Same here. Crypto is very risky. LTC is a better bet.

[skaffen]

According to the novacoin explorer at http://nvc.cryptocoinexplorer.com/

462470 coins were created.  The originators have about 100k coins left after giving 110k to Btc-E.  462470 - 110k destroyed = 362470.  The originators have 100k / 362470 = 27.6% of all coins, plus stake minted.  That is a worrying amount of concentrated control of supply!  This Balthazar person (the creator) should give away the remaining 100k. 

[fsb4000]

According to the novacoin explorer at http://nvc.cryptocoinexplorer.com/

462470 coins were created.  The originators have about 100k coins left after giving 110k to Btc-E.  462470 - 110k destroyed = 362470.  The originators have 100k / 362470 = 27.6% of all coins, plus stake minted.  That is a worrying amount of concentrated control of supply!  This Balthazar person (the creator) should give away the remaining 100k. 

Satoshi didn't give away his 4 000 000 Bitcoin 
IMO Balthazar should not too....

[r3wt]

According to the novacoin explorer at http://nvc.cryptocoinexplorer.com/

462470 coins were created.  The originators have about 100k coins left after giving 110k to Btc-E.  462470 - 110k destroyed = 362470.  The originators have 100k / 362470 = 27.6% of all coins, plus stake minted.  That is a worrying amount of concentrated control of supply!  This Balthazar person (the creator) should give away the remaining 100k. 

Satoshi didn't give away his 4 000 000 Bitcoin 
IMO Balthazar should not too....

what satoshi premined 4 million BTC? thats a joke right?

[Alex AXe]

what satoshi premined 4 million BTC? thats a joke right?

Yep
He premined 5 million BTC, not 4 million

[Alex AXe]

In fact, just one question.
Is there at least one person who claims that NVC is a scam and does not have few thousands (or more) LTC at the same time?

I think it's just a matter of future competition between these currencies.
NVC has many advantages over LTC and can destroy it in future.
For this reason, those who have LTC premine (or "easymine") constantly spreading rumors about NVC-scam.

Truth is that they're just trying to save their erroneous investment in LTC.

[r3wt]

what satoshi premined 4 million BTC? thats a joke right?

Yep
He premined 5 million BTC, not 4 million

wow. this means i can hugely premine all future coins i release! hooray, i'll never work again!

In fact, just one question.
Is there at least one person who claims that NVC is a scam and does not have few thousands (or more) LTC at the same time?

I think it's just a matter of future competition between these currencies.
NVC has many advantages over LTC and can destroy it in future.
For this reason, those who have LTC premine (or "easymine") constantly spreading rumors about NVC-scam.

Truth is that they're just trying to save their erroneous investment in LTC.

i fucking agree totally.

[Alex AXe]

462470 coins were created.  The originators have about 100k coins left after giving 110k to Btc-E.  462470 - 110k destroyed = 362470.  The originators have 100k / 362470 = 27.6% of all coins, plus stake minted.  That is a worrying amount of concentrated control of supply!  This Balthazar person (the creator) should give away the remaining 100k. 

Or just wait few month until another 400000 will be mined. And 27% (if they exist at all, which I doubt) will drop to 10%.

Novacoin is at start position now. Remember this.

[fsb4000]

~41% of downloaders came from Russia;
~25% are from USA;
~13% splitted between Ukraine and China.

U.S. citizens are beginning see clearly