FAILCOINS 2018

[newcoin1]

Hy,

with the start of the new year we have again new coins, which are more a comedy show than a real project.
To save time and money we could list these coins here and show the world why they are total fail coins.
Feel free to add coins with a proof why they fail.


Let me start with one of my favourite failcoins.

#1 NODEZ CRYPTO

Founder : Whywefight
I heard only good things about whywefight, but i think he is not very experienced in launching a coin or coding.

Dev : Wallermadev
Wallermadev got kicked from 2 projects.
he was kicked form PIRL, because he was not able to deliver work.
https://forum.pirl.io/t/pirl-community-announcement-staff-change/122

this decision was not made lightly, and has come to this conclusion for a number of reasons. First, was a chronic failure to release or submit work in a timely manner; or indeed prove work was making significant progress. Second was a gross dereliction of duty. Third was attempting to repeatedly incite discord among staff. Lastly, the final event to trigger this decision was a conflict of interest, whereby Waller began to work on another project full-time.

he was kicked from ELLA for the same reason plus he was talking shit about ELLA behind their backs.
Both kicks makes sense, because this time he isn’t able to deliver again.

Why they are a failcoin ?

Nodez Crypto had a presale of coins without having a chain, wallet, explorer or something else.
sorry but thats an ICO for me not a coin, but that’s not the reason why they are fail.

Launch tries :

#1 01/02/2018 = failed, because nothing was ready. No CHAIN, No Wallet.....nothing
#2 01/03/2018 = failed because every pool forked, No CHAIN, No Wallet...nothing
#3 01/03/2018 = failed, because geth not ready, no bootnode, wrong networkID, no wallet , no chain
#4 01/20/2018 = failed, because problems with the chain, no wallet.....nothing
#5 01/21/2018 = failed, no info was given. dev and founder are quiet

- since the 21th (today is the 24th) no info of the NODEZ team.


Status of the wallet :
There might be a web wallet, but you cannot use it, because there is nothing you can test with.
A wallet app is not existent. There are screenshots, but just screenshots and nothing more.

So all in all you can say THERE IS NO WALLET.
BUT what was the dev testing on 11/24/2017 ?
   WallerMaDev - 11/24/2017
   Testing webapps today explorer, web wallet, paper wallet.


Status of the chain :
Thats a littlebit weird, because on 01/13/2018 they said they got a testnet up and tested.
https://twitter.com/nodezcrypto/status/952248143458029568

   WallerMaDev - 01/11/2018
   Mining Payout working well on testnet.

BUT
on 01/21/2018 1:42 AM a CM (GerryMC) said :
   GerryMc - Today at 1:42 AM
   ...
   you should be able to play with the test net soon enough
   ...

So there was no testnet.
Some of you should say "OK but maybe the testnet was not for the public.". i have to say that might be possible, but they announce a launch, fail it 2 times on the 20th and 21th and say that
the people can play soon with the testnet ?!
They must have a testnet up since 11/24/2017 or how wallermadev was able to test the explorer, web wallet, paper wallet without a testnet ?

And why they announce a launch of the coin and want to send people into the testnet ?
For me it looks like they want to buy time until they know what to do or get someone who knows what to do.


How they deal with the fail lauches ?

That’s very interesting.
Instead of trying to be transparent and explain what happened and what is going on, people get banned into a channel “cry babies” when they ask problematic questions or criticize any of the CMs, dev or founder.
Bitcointalk Announcements (yes there are 2 of it) are closed because they fear the shitstorm they get with fail launches and their behavior in discord.
That’s not the way to deal with it or treat people, which are spending time (and you all know time is money) on their fail launches.
Its not that unusual that people are getting angry after 5 failed launches.


Conclusion :

So what we have ?
we have a coin which presales without having something. ICO ?
We have a coin which got no wallet.
We have a coin without a working chain.
we have a coin with a dev which was kicked from 2 other projects.
we have a coin with a team that contradicts itself by saying what they are doing and what they announce.
we have a coin which fails and fails the launches.
we have a coin where you got punished for criticize the fails.

Under the line we have nothing.
That’s a failcoin.

sad news for the people who invested in these coins that is why i don't put my eggs in the same basket also i just do this as i hobby i feel secure not quieting my real 9-5 job

[UnusualMouse]

I would not be so relate to new coins. At one time, Dogecoin was also considered a shit coin, and now one of the most popular.

DOGE is out of this although the devs have left the project there is still huge community supporting the coin. And this coin is still circulating in the market.

[ubiq_min0r]

Now the news is out.

Like i said. Nodez failed due incompetence of the dev wallermadev.
Again he didn't deliver his work.

But the founder called whywefight is refunding the investors.

daniel(whywefight) -
As of today, i have started the process of refunding all EAs and the first refunds will be send out when i get up. Once that process is done i will see what to do. Other than that, there is nothing much i could say right now.


BUT at this point i have to warn about that dev.
Like i said before he was kicked out of other project because of this issue and you all should AVOID to work with him.
It now clear fact, that wallermadev is just pretending to be a dev.
All he has done was just do some screenshots and tried to get a chain running (what took him over a month to get a testnet running which noone was able to see or to try).

In short :
IF YOU ARE BEING CONTACTED BY WALLERMADEV DO YOURSELF A FAVOUR AND BLOCK HIM.

[kryptqnick]

#1 NODEZ CRYPTO


How they deal with the fail lauches ?

That’s very interesting.
Instead of trying to be transparent and explain what happened and what is going on, people get banned into a channel “cry babies” when they ask problematic questions or criticize any of the CMs, dev or founder.
Conclusion :

So what we have ?
we have a coin which presales without having something. ICO ?
We have a coin which got no wallet.
We have a coin without a working chain.
we have a coin with a dev which was kicked from 2 other projects.
we have a coin with a team that contradicts itself by saying what they are doing and what they announce.
we have a coin which fails and fails the launches.
we have a coin where you got punished for criticize the fails.

Under the line we have nothing.
That’s a failcoin.

It's an interesting topic you started here. And this coin does seem to be superbad, since it failed in literary everything!
Yet I think it would be also interesting to discuss some unexpected failures of the project that caught a lot of attention and were supposed to be successful. Among such big failures of the past were Zcash in 2016 (huge price at the beginning, even more than the btc itself at that time, but a quick explosion out of which it is probably never going to recover) and maybe Electroneum in 2017 (it was not so bad, but the expectations for a British ico with good team and a cool idea were high, whereas when it appeared on the market, the price dropped below the ico price fast).

[Anyuaia]

This thread will be popular
Do u plan to add more "fail coins"?

[ubiq_min0r]

sure.
i will.

now that i am back in my country i will start investigation on other coins too.

[Anyuaia]

sure.
i will.

now that i am back in my country i will start investigation on other coins too.

thanks! I w ill wait

[lero34]

Interesting statement, but no. What kind of koin can disappear and be defeated, but everything is basic. I'll even tell you that they will never fail. After all, the future is behind them.