XSPEC x200 this year

[KimJungUn]

My prediction from December 2017

Current   = 1.44

1 month  = 1.20

3 month  = 0.90 - (MARCH 2018)

6 month  = .30

1 year     = .01

Current price: 0.86


This coin is being shown more and more every day that it's a scam and a money grab by the DEVs.  My prediction is still on pace and should expect this coin to be worth a few cents by the end of the year.  There is a massive sell off going on right now.

[Smithrj]

This is the kinda BS that makes crypto unappealing to people. Don't know which side is being truthful, but either way these events make us look very armature.

[preshpr1nce]

This is the kinda BS that makes crypto unappealing to people. Don't know which side is being truthful, but either way these events make us look very armature.

I agree, it's why you need to do your own research instead of listening to people on forums, when you have Sr/Hero members promoting a scam coin going to 200x it shows why.
Another good tip, if a coin is being spammed, hyped and all sorts of things on the forum for over a year yet has a market cap under 20 million, it's probably nothing great.

If a coin has had that level of exposure yet does nothing.. there's usually a good reason why.

Also if people hold a coin, it doesn't matter how senior of a member they are on the forum, they will praise it.. we're here to make money after all.

[adrov]

Well if you don't praise your own beliefs what then?

[preshpr1nce]

Well if you don't praise your own beliefs what then?

The issue isn't about pushing beliefs, it's about being too close minded to change your beliefs, it also comes down to morals, if I held a coin which was down from the price I payed and such a thing came out, I would just keep quiet and go about getting out or regaining through my own methods, I would NEVER try to pull others in to my mess.. Plus the belief that people who do none of their own research will have the funds to bring your coin up is idiotic, people with money to invest are not this stupid, so all you're doing is hurting innocent people for no true gain.

[djpitagora]

Now would be a great time to buy.

it's called catching a falling knife. Time to limit risk not get more of it...

[Xxxurrrad]

I planned to buy a week ago. I'm glad that I decided to wait a little longer. I think that now the price is almost optimal for the purchase.

[preshpr1nce]

I planned to buy a week ago. I'm glad that I decided to wait a little longer. I think that now the price is almost optimal for the purchase.

At a quick glance of your posts, you don't appear to be an XSPEC shill.
Before buying I suggest you read these 2 threads:

https://bitcointalk.org/index.php?topic=3055715.0
https://bitcointalk.org/index.php?topic=2839833.0

If you still want to buy after that then go for it, you should always do your own research over listening to others, but consider those 2 threads in to your research.

[sallydavisy]

What can be the drivers of growth for this coin? I almost decide to buy some, but last news so disappointing.

[gunner833]

What can be the drivers of growth for this coin? I almost decide to buy some, but last news so disappointing.

Proved so far, none. Read the message above yours.

[BitcoinSkull]

I'm just curious, what will it take you to believe XSPEC isn't a scam? Will the 1.4 release satisfy you as to the progress JBG is making? Adding another developer? Successfully completing Stealth Staking? Where does it stop for you?

I find it funny that the 25 cent Monero thread has resurfaced in the last few days, take a look at what some of the people were saying about Monero when it was 25 cents:

can't believe this shit coin has its own market at poloniex, makes the whole site unprofessional.

Monero is pump and dump. No noticeable features except for HYPE.

Under 25c? I'm waiting for zero and for it to fuck off so we can be left in peace.

Monero bagholer cult is hilarious. Nobody cares  Smiley

My personal favorite:

You should do a bit more reading and not listen to the monero shills with their endless, inane threads.

Sound familiar everyone? Monero was a "shit-coin" until it wasn't. If XSPEC actually delivers, the price is going to reflect it and a lot of early adopters are going to be very happy with their investment. I was definitely concerned with all of the recent threads about JBG but he reasonably defended himself and I trusted his responses. I'm eagerly awaiting 1.4 release which I hope will help stop the endless FUD being spread by the same 3 people. Call me an XSPEC shill if you like, I'm invested in quite a few coins and XSPEC is one of them and I believe in the project. Its not a secret. Make a decision based off your personal risk. For me, either XSPEC is going to be worthless if JBG/team doesn't deliver, or its going to the moon and beyond if they actually deliver stealth staking. I'll take that risk because I spend money on dumb shit now anyway so I might as well take a gamble that could pay off big.  

[preshpr1nce]

I'm just curious, what will it take you to believe XSPEC isn't a scam? Will the 1.4 release satisfy you as to the progress JBG is making? Adding another developer? Successfully completing Stealth Staking? Where does it stop for you?

I find it funny that the 25 cent Monero thread has resurfaced in the last few days, take a look at what some of the people were saying about Monero when it was 25 cents:

can't believe this shit coin has its own market at poloniex, makes the whole site unprofessional.

Monero is pump and dump. No noticeable features except for HYPE.

Under 25c? I'm waiting for zero and for it to fuck off so we can be left in peace.

Monero bagholer cult is hilarious. Nobody cares  Smiley

My personal favorite:

You should do a bit more reading and not listen to the monero shills with their endless, inane threads.

Sound familiar everyone? Monero was a "shit-coin" until it wasn't. If XSPEC actually delivers, the price is going to reflect it and a lot of early adopters are going to be very happy with their investment. I was definitely concerned with all of the recent threads about JBG but he reasonably defended himself and I trusted his responses. I'm eagerly awaiting 1.4 release which I hope will help stop the endless FUD being spread by the same 3 people. Call me an XSPEC shill if you like, I'm invested in quite a few coins and XSPEC is one of them and I believe in the project. Its not a secret. Make a decision based off your personal risk. For me, either XSPEC is going to be worthless if JBG/team doesn't deliver, or its going to the moon and beyond if they actually deliver stealth staking. I'll take that risk because I spend money on dumb shit now anyway so I might as well take a gamble that could pay off big.  

When will you give up trying?
None of the above disproves the findings on XSPEC.

To compare, all of the above quotes are nothing but speculation from people doing no research or providing anything more than an opinion.

XSPEC on the other hand, we've had research in to the developer himself and the code base for XSPEC, all of it is 100% fact without speculation or bias view.

Give it up already, your post history is all XSPEC shilling, if you want to save your coin focus on disproving the findings.

[BitcoinSkull]

To compare, all of the above quotes are nothing but speculation from people doing no research or providing anything more than an opinion.

Those people DID do research and at the time believed Monero had proved nothing that made it valuable as a coin. I'm not saying XSPEC will follow the same path for success, but the arguments sound very familiar. If 1.4 is released there will actually be code available to parse other than foundation updates needed for 1.4/2.0. If 2.0 is actually released... well, it won't matter because anyone who didn't invest will have missed their entry point.

Anyone notice how he avoided what it would take for him to stop believing its a scam?  Probably because its not about the project itself. Its about spreading that sweet, sweet FUD.

[preshpr1nce]

To compare, all of the above quotes are nothing but speculation from people doing no research or providing anything more than an opinion.

Those people DID do research and at the time believed Monero had proved nothing that made it valuable as a coin. I'm not saying XSPEC will follow the same path for success, but the arguments sound very familiar. If 1.4 is released there will actually be code available to parse other than foundation updates needed for 1.4/2.0. If 2.0 is actually released... well, it won't matter because anyone who didn't invest will have missed their entry point.

Anyone notice how he avoided what it would take for him to stop believing its a scam?  Probably because its not about the project itself. Its about spreading that sweet, sweet FUD.

Ok so please for each of those quotes, post a link to their investigations and findings.
No one has said this has anything to do with 1.4, based on what we've seen though it's fair to make assumptions.
How do you know they are hiring another developer? The initial project manager payed jbg to START with, now he owns the project and isn't being payed, had to sell funds for a flight recently yet can afford to hire a developer?

The findings are simple, jbg is in his 20s, claims 20+ years dev experience, more on top of this relating to other personal findings but the other key item is the code research done on an open source project (XSPEC) which resides on GitHub, you can clearly go through this code and see jbg has done nearly nothing in his time yet claims to work full time, the changes he has made and hyped as big features or bug fixes are less than a days work, the code does not lie, any one with the slight ability to read code can see this themselves, you provide nothing, as I said the absolute easiest way to put this to rest is to discredit the code findings, yet you just keep typing up your garbage, you're silly if you think your words will have more impact on coin price than what's already happened, people are smarter than this and it's showing in the recent dumps, as of now it's a highly volatile coin and a horrible investment with a terrible developer.

What will come next from you? going to claim more FUD no doubt.

[BitcoinSkull]

The initial project manager payed jbg to START with, now he owns the project and isn't being payed, had to sell funds for a flight recently yet can afford to hire a developer?

I can't attest to Mandica paying JBG to start, I don't remember seeing something about that anywhere, but Brycel was originally paid out of pocket by Mandica. JBG was originally funded through donation campaigns that the slack community raised, and now is funded through the donation slider in the wallet. So, technically he is being paid by the community. JBG has said to bring on another developer there will need to be an additional amount brought in through direct donations to that dev or through staking to pay them obviously (unless of course the new dev will work for little). JBG doesn't "own" the project, no idea why you think that. He is the lead developer on the UI/main code side of things. He is fully open to bringing on additional developers. He had to "sell funds" because he hadn't pulled any out from the donation address before that from my understanding. So essentially he hadn't taken a paycheck from the donation implementation until now.

jbg is in his 20s, claims 20+ years dev experience,

"This is the most true thing in the post. I've never said anything about my age (at least as far as I remember), but I've said I have 20 years’ experience. In reality, if you actually go back through my CV, I've only been working on software development since about 15 years ago, of which 2-3 of those years were spent part-time and the rest full-time. I rounded up (which is hardly rare), but I shouldn't have, and I won't be claiming 20 years any more."

you can clearly go through this code and see jbg has done nearly nothing in his time yet claims to work full time, the changes he has made and hyped as big features or bug fixes are less than a days work, the code does not lie, any one with the slight ability to read code can see this themselves

"the long version is, they're using this idea that "library updates" and "build system improvements" are not serious work to try to discredit the work i've been doing. that stuff is critically important. you can't add a floor to your house if you don't beef up the foundations first"

as I said the absolute easiest way to put this to rest is to discredit the code findings

No one has said this has anything to do with 1.4, based on what we've seen though it's fair to make assumptions.

This is the biggest indicator you don't care about the project following through. The whole point is that 1.4 will be able to solve a lot of problems you have with JBG not doing a lot of work on the project. So then how about you wait for 1.4 to be fully released and then you can spend your time analyzing the code all you want. Because as of now, you spend all your time on BCT trying to "save" people from investing in XSPEC for what? Out of the goodness of your heart? I find that hard to believe. You anti-shill XSPEC more than most people shill it. Why aren't you spending your time on all threads about scam coins?

How do you know they are hiring another developer?

Where did I claim that I knew they are, for sure, hiring another developer? I said they are open to bringing on more developers but we'd have to find a way to fund it. If JBG is a scammer then he only has a limited amount of time before hes found out. Not sure why a scammer would be so open to bringing on more experienced developers who could easily see if JBG wasn't doing any work.

"if we want to bring in another experienced full-time dev i guess we are looking at at least 2000 xspec per month more but, maybe there are some skilled people who would do it for less. Plenty of people have less experience but plenty of capability, and if we are reviewing their code it's not such a big problem if they are a bit less experienced"

"Hopefully we can also bring some more developers on, develop a more regimented development process where things are in small, well-labelled commits and pushed regularly. we basically want to have as many developers as possible working on the project, but with the core team (bryce and I, and hopefully a few more people) vetting the code. I recognise that we need to make our development more regimented and auditable and i'm working on it."

you're silly if you think your words will have more impact on coin price than what's already happened, people are smarter than this and it's showing in the recent dumps, as of now it's a highly volatile coin and a horrible investment

Sounds like a whole lot of opinion coming from you. A lot of alts are down right now, the whole market is volatile. There's also a whole bunch of people that think its a good investment at this price. I don't think my words have ANY impact on the price though. This is just one of the many projects I believe in and my voice is but a drop in the ocean of voices. I don't think that XSPEC is the best project in the world, JBG is regularly late with updates but usually delivers. Stealth staking is innovative but as of right now is up in the air for whether or not Brycel will actually deliver results. There is a shit ton of risk associated with this project but any investor will weigh that into their decision on whether or not to invest. Again, I know there is a risk this project could tank to 0 if results aren't delivered, but I believe theres a decent chance that they could deliver and my faith will be rewarded.

Anyone developers looking to help with this project are encouraged to join the discord and talk with JBG about whether or not they could contribute with the project.

[BitcoinSkull]

Hey guys, while we are it, I'd like to take a trip back to 2014 when someone did their research really well and made a really good argument with "proof" that Monero is a scam.

The Monero XMR Scam Uncovered

Monero is being pushed very hard everywhere in this forum. XMR supporters are radically aggressive appearing in each and every single thread, flooding the discussions, and FUDing all the coins that appear on their way. The crypto community is already dead tired of the Monero shill accounts unprecedented activity.

proof

proof

proof

I'm not saying that promoting your coin is illegal activity by itself. After all, the altcoin market is 99.9% about shouting louder than everyone else. PR usually helps get it going until it suddenly burns itself out (like with Doge). However, I came across a number of stinky facts that may prove that Monero is a completely artificial bubble.


How it looks like

If you've been reading the forum thoroughly for the last months, you might have noticed a couple of things about XMR.

You might have an impression that there are a lot of XMR supporters.
You might have an impression that the trade volume is very high.
You might have an impression that the developers are active.

You might also have an impression that something is very weird about this raw newborn coin.

Most likely because every single thing you see about XMR looks artificial.


The Hypotheses

H1. Monero's posting activity is artificial
H2. Monero's trades volumes are artificial
H3. Monero's developers are not capable of developing the coin

If all of the three hypotheses hold, then I'd say that Monero is scam and/or bubble. However, let the research be fair.


H1. Monero's posting activity is artificial

Recently, I stumbled upon a thread where Spoetnik points to a WTB hero member account thread started by Come-from-Above.

Here's the thread by Come-from-Above where he claims that he is paying 5-10 BTC for Sr. Member and Hero Member accounts. And apparently he needs a substantial number of such accounts.
https://bitcointalk.org/index.php?topic=728902.0

Think about it for a moment. Why one need to buy old accounts? Hero Members make greater sense of community approval then the Newbies. If someone so respected is claiming something, plenty of users are likely to believe him. And of course,

these accs are NOT used for bad causes, just my opinions and forum presences Smiley

Of course, because you're buying Hero Members to post on flood threads about TV shows, right?
Nope. You are not.


1.1. Who is the beneficiary of the bought accounts?

Let's have a look at Come-from-Above's posting activity. There is a number of the things that might point us to Monero.

proof, mirror

Other evidence:
proof, mirror
proof, mirror (please, check out the mirror link and notice that the original post has been changed to "Monero TO THE STARS". Is someone competing with Doge's "to the moon?")
proof, mirror (how sweet!)
proof, mirror
proof, mirror

He keeps on buying large Monero sizes even when the price is stagnant. Come-from-Above has even started a new thread:

proof, mirror

1.2. How much is the fish? A weird fact

Come-from-Above has donated 5000 XMR for the XMR GUI wallet.

proof, mirror

Based on XMR and BTC prices on July 19,
5000 XMR = 5000 * 0.00455 = 22.75 BTC
5000 XMR = 22.75 * 627 = $14,624

Can you even imagine somebody wanting the GUI wallet so badly that he donates $14,000? For an already available totally free software? Which runs on .NET and cannot be used without an ugly extension? While the market price of such a development would be way beyond $1,000, more like 1 BTC?

I'm not even sure which of the two explanations is worse. Try answering yourself:
Case 1: a whale donating $14k to a XMR wallet developer and buying hero accounts
Case 2: a shill account pretending to have donated $14k and buying hero accounts

As a side note, the GUI wallet developer Jojatekok has quite an interesting activity history. He's commenting only on XMR thread and is mainly supporting his wallet only. Doesn't he look more like a maintainer of GUI thread to help conceal that all GUI wallets are being developed by the core team with no 3rd party developers around the coin? I do not want to seem too obsessed with the conspiracy theories, but those things just don't add up.


1.3. Compromised accs

This section is in progress

Suspect 1

Searching for compromised accounts requires a lot of time and effort but there is clear evidence already. Consider this user: Joshuar. Once he used to hate XMR:

proof, mirror

Another evidence:
proof, mirror

Then suddenly he's in the WTB accs thread:

proof, mirror

And then he's all for Monero:

proof, mirror

proof, mirror

Suspect 2

When I first saw saddambitcoin on forum, I thought he's goddamn hero member so he should be trustworthy. Apparently, he isn't.

Check out his posts in 2013. They are all so lame you would immediately recognize the account being maintained for sale.

Then suddenly, after 4 months of being absent (since December 2013 by the way) he re-appears with the different writing style and all for Monero:

Coincidence?


Other suspects

There has been a remarkable "coming-out" that claims that certain XMR accounts were run by the bot maintainers. The person claims that such users as surfer43, smooth, mickey_miner, and novag were used by the ghost writers.

proof, mirror

However, this might well be FUD.


If you happen to know any other XMR troll or sold account, share it with the community.


1.4 An interesting observation

If you were reading the recent thread where XMR trolls are accusing Bytecoin/CryptoNote, you might agree with the post below. Monero bots somehow manage to turn any discussion into the XMR PR machine:

proof

Implications

That being said, Monero has a number of shady supporters including purchased hero accounts and shill writers. Next time you see a hero member, a senior member, or even a junior member that is posting for Monero, keep in mind that the account may actually be bought or maintained by an outsourced pr manager.

Hypothesis 1 is accepted. Monero's posting activity is likely to be largely artificial.

H2. Monero's trade volumes are artificial

Fact one — large daily emission
Monero is emitted at the rate of roughly 22,000 XMR/day at the moment. At the time of writing this is roughly 78 BTC or $40,000.

Take a look at the XMR emission chart (depicted as "Bitmonero"). The emission rate is much higher than Bitcoin's or pretty much any other PoW altcoin.

proof, mirror

Fact two — botnets
Monero is largely botnet mined and that has been confirmed on a number of occasions (even by the XMR devs themselves):

1. A 4 MHash/sec botnet confirmed (you may wish to read several pages starting with the post below, as there are some speculations on botnet mining economy):

proof, mirror

2. Two other botnet operators have been confirmed. How many botnets do those operators have? What is their hash rate? Nobody knows.

proof, mirror

3. What's more, there is an infamous XMR silent miner issue (used as a botnet software that runs on the vulnerable PCs):
XMR silent miner is being actively sold for $10

4. Monero Stealth miner affecting PCs already in June 2014 (mirror)

5. Here's a link to the virus base with this trojan (link from the thread above): https://www.virustotal.com/en/file/e2e6b6938879142c4e35542b5fe8d3eeec7bf9e682f915213fda009097c3878e/analysis/1401909211/

6. Another report on the issue on Reddit. Check this comment.


Fact three — whale support
rpietila is currently a Monero whale. Being a bitcoin millionaire he's capable of buying out large stakes of XMR that are dumped on the market. I'm not going to mirror those links, as everyone knows that rpietila is a whale and supports XMR. E.g.: https://bitcointalk.org/index.php?topic=702140


Fact four — natural trend is declining
During the last 4 months that have passed since Monero launch, the price has never broken the peak. It simply fails to grow in spite of all the PR hype and fake forum activity. Of course, there are periods of growth, but have a look at the historic chart:

Below the chart you may see the trade volumes. When XMR is being traded as usual at 100 BTC volume (standard XMR market behavior), the price gradually declines. The explanation for that is fairly simple (go back to facts #1 and #2). The botnet owners are slowly dumping their coins and drive XMR market down.

Secondly, notice that upward trend coincides with the significant spikes in volume (up to 300 BTC and more). Recheck it with #1 and #3. As the natural demand can in no way match the botnet supply, someone has to step in from time to time to help get it going further. This is most likely the whale buying large XMR sizes out. Alternatively, the XMR trade volume spikes may also be someone on the core team trying to sustain the price.

 
Implications

That being said, XMR is likely to be mined mostly by the botnets at the rate that is not justified by the demand. Botnet owners dump the coin as it is not showing any stable growth. That's it folks, the 78 BTC of daily trades come simply from the daily emission rate being pushed to the market. No surprise, why the price is generally going down.

Why is that so? CryptoNote has created new ways for the botnet owners to profit. Monero was largely botnet mined from the inception, so the main stakeholders are basically botnet operators. How do you make sure your profits are secure? You need someone buying out those daily volumes. There are two simple ways to ensure that:

1. Artificial PR/hype through purchased hero accounts.
2. Secure yourself a whale.

This has serious implications and may actually link us back to H1 on fake marketing/PR hype. Botnet owners are securing their profits by purchasing accounts and hiring shills. However, everything they do is for just one particular purpose: profit from their botnet mined coin. They make you feel that XMR is largely supported so that you give your money to them.

It's hard to say whether XMR core team is involved. Of course, they would deny any potential connection. However, I wonder why they're not very interested with botnets and fake accounts and pretend that nothing weird is going on.

Another point is that I'm not sure why such a prominent investor and cryptocurrency activist as rpietila supports the coin with such serious issues. I assume that he was somehow tricked into believing that XMR has the future. It might also be the case that core developers are not seeing the whole picture themselces and honestly believe that Monero is actually supported by a large number of people who are willing to buy more and more Monero. However, the reality is that all these people are dead wrong. Monero is being dominated by botnet owners; everything they do with the black PR techniques is to fuel its scam growth. My last thought might be a bit brave, but could rpietila's money be the actual target of this scam scheme?

Don't worry, XMR will be deep mined in half a year. When the emission declines to 20 BTC per day, the botnet interest will disappear naturally. After they choose another victim, the Monero's black PR hype will disappear and the coin will fall down.

If you're not convinced, you may continue giving your USD to botnet owners in exchange of worthless XMR.

Hypothesis 2 is accepted. Monero's trades are artificial.

H3. Monero's developers are not capable of developing the coin

The XMR team in their missives report a lot of work being done. However, we haven't seen any meaningful update for the last several months. Of course, the work on GUI wallet is in progress, buy GUI is not related to the underlying protocol, which XMR copied form Bytecoin and apparently cannot maintain any further.


Evidence 1 — bullshit Monero missives

Have a glance at the compilation of XMR missives. How many of them are meaningful? The problem is that XMR devs are good at creating the illusion of development while not touching any underlying module (unlike Bytecoin which e.g. implemented multisigs and reworked so many code lines in a month that GitHub cannot even show the diff).

• Jun 2nd - nothing special
• Jun 10th - determenistic wallet is a nice usability improvement to add but it has nothing to do with the protocol
• Jun 18th - nothing special
• Jun 27th - transaction splitting is somewhat close to the hardcore work
• July 6th — nothing at all
• July 20th — nothing special
• July 23rd — nothing special
• August 3rd — nothing special
• August 10th — nothing special
• August 16th — nothing special

The truth is, among all the well-promoted XMR "development" activities, they've only managed so far to release transaction splitting and deterministic wallet. Everything else you see is either an irrelevant micro change or "a work in progress", which has never been released. It's easy to make an illusion of hardwork development going on, but the fact is XMR developers are not delivering.

Take i2p integration as an example:

• Long promoted (mirror)
  
• Never released
• i2p switches to Anoncoin

The original blog post about "XMR partnership with i2p" has even been removed from the i2p project's blog. It is quoted in fluffypony's post, but cannot be found on the i2p website: fluffypony bragging (mirror), the blog post has been deleted

This situation is the best evidence. XMR devs are incompetent. Their "partnership" with i2p was yet another hype.


Evidence 2 - bugs

XMR devs roll out an undergraduate level C++ bug that might end up with users' money being lost:

proof, mirror
proof, mirror

Evidence 3 - copy&paste

XMR devs used to copy&paste code from other repositories (mostly, Bytecoin & Boolberry) without attribution.
Here is a pastebin of the Reddit post deleted from XMR subreddit.

   
    Monero XMR devs are copycats
    
    Bytecoin GitHub commit (5/15/2014): https://github.com/amjuarez/bytecoin/commit/baaa3484271e11398790bbf01ee4d7b19c68e3bb#diff-74021cb60bde0670646eb96a91e4443cR707
    
    Monero GitHub commit (5/25/2014):https://github.com/monero-project/bitmonero/commit/3a3a8176782a4fa75b0607fba0393c9d4a1746be#diff-74021cb60bde0670646eb96a91e4443cR707
    
    
    After that Monero guys made a huuuuge PR company "Look what we have done to technology! We've fixed the bug while BCN devs haven't!".
    Congrats! You guys are so good at copy and paste! And you are super-pro at stealing ideas and passing them off as your own (from the very beginning of BitMonero, lol)
    
    
    I just want all MRO fans/investors to know about it.

XMR copies the code from BCN, but trolls to death anyone who does the same to their code. One particular case is out of all proportions. Here XMR devs blame XDN devs for breaking the copyright. However, it turns out that the code in question was originally developed by BCN and taken by XMR without attribution.

proof, mirror

Evidence 4 — unable to even launch Monero

You may not know it kids, but Monero was originally launched as Bitmonero on April 18th by thankful_for_today: the original thread (mirror).

What happened next is a bit of a mystery as thankful_for_today was absent for a couple of days only to find out that Bitmonero was taken over by the "community" and renamed to Monero. This implies that current XMR devs were even unable to launch their coin, which forced them to hijack the website and the github. They have just decided to exclude thankful_for_today from the team and that is how Monero was born.

That's it. The XMR core team knows the CryptoNote protocol that bad they couldn't even launch Bytecoin's fork themselves.


Evidence 5 - external opinions

All of this might well be the reason why the observers believe that XMR devs are incompetent

Help us get more unbiased opinions on XMR devs' capabilities


Implications

The XMR devs are not capable of maintaining their coin as they simply do not grasp CryptoNote tech in full. Bytecoin developers are the ones who created it and keep contributing. Having such an enemy is very scary if you cannot develop the protocol yourself. And that is why XMR bagholders are so cruel to both Bytecoin and CryptoNote. They don't need such an enemy, they aim to discredit it. No matter what it takes.

If we go back to H1 & H2, we can conclude that everything you see about Monero is fake. The Monero developers are not able to maintain and update the coin they've hijacked from thankful_for_today. In the meantime, botnet owners secure their profits by promoting XMR through purchased accounts, black PR, and fake trades. They continue to lure you into investing into their botnet mined currency so that they can profit.

There is no way to tell whether XMR developers are related to the botnet owners, but the reality is that each time you invest your money into XMR you are giving it away to the botnet owners.

Hypothesis 3 is accepted. Monero devs are not capable of Monero development (at least as of now).


Conclusions & TL-DR

1. Monero is largely botnet mined.
2. The trade volume on the exchanges is artificial and is mostly created by the botnet owners that are constantly selling the coin to those who has fell into their fake PR hype. Occasionally the exchange rate is saved by the XMR whale. Fundamentally, XMR is doomed to have a negative trend.
3. The PR activity on this forum is fake. The Monero community is much smaller than XMR shills pretend it to be. There are a lot of purchased hero and senior member accounts and relentless black PR activities. Everything is aimed at making you part with your money to supporting botnet operators by investing in XMR.
4. XMR devs cannot make any significant updates/improvements to the CryptoNote protocol and are doomed to stick to PR hype only while helping the botnets profit.

Based on the evidence above you are free to make your own conclusions.

If you manage to read the whole post, you will understand that XMR is a scam coin that you should avoid. There are no fundamentals for it to grow and develop and we're going to see XMR value go down to zero in the next half a year. Hopefully, afterwards this forum will finally have a break from their shills.

Anyone else catch the giant section where they said the developers haven't done anything in their code and aren't capable of making any real changes?

[patrickrn32]

anyway, i will hold my xspec...
we all know the risks of cryptocurrencies... all invests are risky... no matter in what you invest!
I used money what i "dont" need... hm, yes we all need money i know, but i used an amount of money what i can lose without suicide

[TACryptoo]

anyway, i will hold my xspec...
we all know the risks of cryptocurrencies... all invests are risky... no matter in what you invest!
I used money what i "dont" need... hm, yes we all need money i know, but i used an amount of money what i can lose without suicide

mee to just hodl till the worst will happen. maybe never and we will see bullish days xspec ... nobody knows ...

[BitcoinSkull]

Update from JBG:

OK everyone, I have a short update regarding project structure. Even before I needed to take some time off, I had been discussing with a number of longstanding community members about expanding the core team and formalising some kind of "governance" over the project. Given that me taking 10 days off caused such a large disruption, it's clear that these changes need to happen quickly so that the project can keep its momentum even if one member needs to take time off. We now have an idea of what we'd like this to look like, and I'd like to share this with you all.

First, we're going to officially grow the core team to include several more people, including at least one more developer but also people with project management and marketing skills. Mandica is also back in good health and will be participating actively in the core team again. Second, we are introducing bounties to encourage much wider participation in the development of the project. This will be managed via GitHub Issues - anybody will be able to "claim" an issue and upon their successful completion of it, the bounty will be paid to them. This will be funded from the staking donations. I'm working on identifying the areas where I think bounties can be best applied and will create issues soon, but I'd also like to encourage anybody who has ideas for fixes or improvements to propose bounties. The core team will select the bounties that will be funded from staking donations, but anybody can fund a bounty if we don't select it and they want it to be worked on. We hope that these changes will "decentralise" development more effectively and also increase our rate of progress. A specific update about v1.4 will follow in the next days.

Also, once the core team is in place I want to hand control of incoming donations over to a designated person who will manage the bounties and make results-based payments to me and Bryce as well as fund anything else that needs funding. This designated person will be chosen by the core team collectively, in a public and transparent way, and will be some longstanding, well-known community member. I want to make this change for several reasons, (1) I think philosophically a clean separation of the funding and the development is a good idea, (2) the constant accusations directed at me are taking a significant toll on my wellbeing and my ability to work effectively, and hopefully this will help, (3) the designated person should be able to more clearly weigh the various needs for funding (marketing, core developers, bounties, maybe exchange listing fees, etc) rather than having it managed by a developer with a more narrow view of the project.

Once these changes occur within the next few months any scam accusations are essentially going to be null and void. Multiple developers, results based payments, donation account controlled by known community member, etc. Very nice to see and definitely eliminates any doubts I have about the project, aside from what Brycel is working on. Thats all faith for now.

[gunner833]

Instead of producing code, the XSPEC team is getting good at producing announcements.

Unfortunately the coin cannot live with announcements only, or announcements of delays of what promised in previous announcements, or announcements of future announcements.

In the meanwhile some questions have come up, but have never been answered in any of the above:

- Where is 1.4 code? More than a month after jbg promise: https://imgur.com/a/BHF5s
- How on Earth have jbg mixed up 1.4 code with stealth staking? How long is he taking to cherry pick a few commits?
- Why after almost a week jbg still does not know how much work is left to finish 1.4? And after 3 weeks of announcing that 1.4 was on time for the end of February?
- Why has jbg lied in 1.3.5 release notes saying he has implemented "Automatic ring size determination for stealth transactions"?
- Why has jbg lied about his software development experience? After a private chat with him, where he was of course trying to minimise the mistake ("everyone exaggerates experience") I had a recognized loyal member of XSPEC community telling me that jbg told him he has 25 years of dev experience, and he is in his 20s. This was not exaggerating, this was lying.
- Does jbg think it's realistic to say that learning a code base, a few library updates, UI fixes, CI and ability to send money to developer is enough work for 9 months for 1 developer (plus one developer for 6 months)?
- Where is Bryce work? Can jbg show his 6 months worth of development? Maybe to some XSPEC community longstanding members?
- What does jbg have to say about 3 independent reviews of his code (this thread you are reading, but also here and here) where we all agree he is not working full-time? Can jbg give us some proofs of the contrary? Also some people from XSPEC community agrees on this him.
- Why is jbg talking about "zero reward" from XSPEC? The donation address in control by him received so far ~100k XSPECs, which in my opinion is a very good deal for what optimistically seems a part time job for him.
- Why is jbg sending most of donations to SdsaXSYCksJcW18AJ6HcG1ZwgFKcU7WYrr? That address has 232k coins received and it's linked with addresses holding milions of coins which are clearly not exchange addresses.
- Is jbg planning to exit soon?
- How many coins does Mandica hold?