Bitcoin Forum
April 19, 2018, 06:25:30 PM *
News: Latest stable version of Bitcoin Core: 0.16.0  [Torrent]. (New!)
 
   Home   Help Search Donate Login Register  
Pages: [1] 2 3 4 5 6 »  All
  Print  
Author Topic: IXcoin -- enough is enough!  (Read 8765 times)
AngelusWebDesign
Sr. Member
****
Offline Offline

Activity: 392
Merit: 250


View Profile
August 15, 2011, 07:13:40 AM
 #1

I hope not too many people are taking this "fork" seriously.

Come on. Taking the BTC source code, changing almost nothing but the name, and trying to compete with Bitcoin (after mining 500K coins for himself, of course)?

It's not like he's actually solving any problems with this rollout. If anything, several problems with BTC (inflation, for example) are being made *worse*.

And people are falling for it?

To better illustrate what's wrong with IXcoin, try to picture what *would* be a welcome rollout. Say a developer came up with a fork, but also had a business partner who had lined up several websites/programs/an exchange/trust system/reviews system/etc. and rolled it all out at once. Then you might be tempted to think, "Hey, maybe this will be just what we need! This could take over where Bitcoin left off!"

But this fork is a total wannabe in every way. I don't know why anyone's buying into this nonsense.

Here is a post someone else wrote, which sums up the situation nicely. I will only add that "Thomas Nasakioto" is a re-arrangement of the letters in "Satoshi Nakamoto":

Quote
I mean it should be obvious from his original post.  He comes up with a japanese name and puts a japanese picture as his avatar so he can siphon off a supposed "Satoshi"-esque aura "hey, he is from japan.  must be awesome!!11!".  Then someone finds out he stole some random dude's picture.  He responds by saying "oh, I have him as an avatar because I like that guy".  Convenient.  On top of that, his name is found to be an anagram of Satoshi's full name.  Which is particularly odd because he advertises his real name as such and even went as far as to create a facebook account with the same/name picture to make himself appear as a real person. http://www.facebook.com/profile.php?id=100002513086401

And obviously the whole mining 500k coins before presenting it to the rest of the community.  All it takes is a little bit of research to find this all out.

I mean, is he claiming to be Satoshi? He better be. You just don't have two guys with the same letters in their names independently coming up with BTC and IXC.
Sorry, I don't believe in those kind of coincidences. I'm not a fool.

I mean, the British Pound and US Dollar weren't invented by two guys named George Franklin and Franklin George!
1524162330
Hero Member
*
Offline Offline

Posts: 1524162330

View Profile Personal Message (Offline)

Ignore
1524162330
Reply with quote  #2

1524162330
Report to moderator
1524162330
Hero Member
*
Offline Offline

Posts: 1524162330

View Profile Personal Message (Offline)

Ignore
1524162330
Reply with quote  #2

1524162330
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1524162330
Hero Member
*
Offline Offline

Posts: 1524162330

View Profile Personal Message (Offline)

Ignore
1524162330
Reply with quote  #2

1524162330
Report to moderator
ribuck
Donator
Hero Member
*
Offline Offline

Activity: 826
Merit: 1002


View Profile
August 15, 2011, 07:17:06 AM
 #2

I hope not too many people are taking this "fork" seriously.
I think it is you who is taking IXcoin too seriously!
AngelusWebDesign
Sr. Member
****
Offline Offline

Activity: 392
Merit: 250


View Profile
August 15, 2011, 07:17:48 AM
 #3

I thought about that -- just starting a thread about it gets people talking about it. I know what you mean.
I certainly don't intend that!

If this is a tempest in a teapot, I apologize.
Oldminer
Legendary
*
Offline Offline

Activity: 1022
Merit: 1001



View Profile
August 15, 2011, 07:20:55 AM
 #4

If you don't like it - just ignore it.

Wow...

If you like my post please feel free to give me some positive rep https://bitcointalk.org/index.php?action=trust;u=18639
Tip me BTC: 1FBmoYijXVizfYk25CpiN8Eds9J6YiRDaX
ableorange
Member
**
Offline Offline

Activity: 95
Merit: 10


View Profile
August 15, 2011, 09:46:33 AM
 #5

a good thing.
Clipse
Hero Member
*****
Offline Offline

Activity: 504
Merit: 500


View Profile
August 15, 2011, 10:10:39 AM
 #6

All these stupid threads about a new fork, wether it changed just the name or not is pointless.

Do you understand the concept of free market? If people want to use ixcoins and make profit or lose money then its up to them.

Thus far ALOT of people have been profiting from ixcoins, not just the creator.

If I start up a new fork and call it bitixcoins and people want to trade it, its up to them and I have the freedom to decide wether I want to invest even 5minutes to create such a fork.

You will be surprise what people see as value were you can have just the name ixcoin meaning potentially more to alot of people than the name bitcoin and it doesnt matter which came to be first. Only a namechange can have a bigger impact or a greatest downfall, no one can say for sure right now.

...In the land of the stale, the man with one share is king... >> Clipse

We pay miners at 130% PPS | Signup here : Bonus PPS Pool (Please read OP to understand the current process)
timmey
Newbie
*
Offline Offline

Activity: 28
Merit: 0


torchat: q23xl6bdgdzhawhf


View Profile
August 15, 2011, 10:37:43 AM
 #7

Come on. Taking the BTC source code, changing almost nothing but the name, and trying to compete with Bitcoin (after mining 500K coins for himself, of course)?
#2
The pre-mining of 580K Coins was just too much.

I've just bought my 2000 IXC for a very cheap 12BTC
http://img204.imageshack.us/img204/9859/eb6c.jpg

I will sign you up anonymously at realitykings.com (http://rk.com)[NSFW] for Bitcoins with 20% discount!
http://timmey.orgfree.com/s.php
read all details in this thread (https://bitcointalk.org/index.php?topic=3242Cool
PiGames
Member
**
Offline Offline

Activity: 111
Merit: 10



View Profile
August 15, 2011, 10:48:13 AM
 #8

I doubt anyone will take it to seriously. Maybe some miners will just because they can mine 'bigger' numbers. But like you said..it didn't change anything but the name.
I've mined namecoins (because I like the idea behind them) but haven't done so with ixcoins, I don't really see the point.
Oldminer
Legendary
*
Offline Offline

Activity: 1022
Merit: 1001



View Profile
August 15, 2011, 10:49:03 AM
 #9

The pre-mined coins were held so bounties could be offered to promote and expand iXcoin

https://ixcoin.org/wiki/index.php?title=Category:Bounties

If you like my post please feel free to give me some positive rep https://bitcointalk.org/index.php?action=trust;u=18639
Tip me BTC: 1FBmoYijXVizfYk25CpiN8Eds9J6YiRDaX
timmey
Newbie
*
Offline Offline

Activity: 28
Merit: 0


torchat: q23xl6bdgdzhawhf


View Profile
August 15, 2011, 11:05:31 AM
 #10

The pre-mined coins were held so bounties could be offered to promote and expand iXcoin
Even if he pays all the bounties as promised there is still a +380K overhead, the bounties sum up to ~200K.

I will sign you up anonymously at realitykings.com (http://rk.com)[NSFW] for Bitcoins with 20% discount!
http://timmey.orgfree.com/s.php
read all details in this thread (https://bitcointalk.org/index.php?topic=3242Cool
Brian DeLoach
VIP
Full Member
*
Offline Offline

Activity: 166
Merit: 100


View Profile
August 15, 2011, 11:05:39 AM
 #11

The pre-mined coins were held so bounties could be offered to promote and expand iXcoin

https://ixcoin.org/wiki/index.php?title=Category:Bounties

Which only adds up to 228,500 ixcoins. He kept 351,500 for himself! (you really think he'll even pay a quarter of those bounties?)

He's got 2,109 equivalent in bitcoin at .006 exchange rate. Bitcoins are trading at 11.5 at the moment, so he's holding about $25,000. That's not to mention that tens of thousands he mined after announcing. The only person benefiting from ixcoins is the Nasakioto, who only ripped off bitcoin and added minor changes. I've got to hand it to him, he knows how to profit big off suckers.
MaGNeT
Legendary
*
Offline Offline

Activity: 1386
Merit: 1002


Waves | 3PHMaGNeTJfqFfD4xuctgKdoxLX188QM8na


View Profile WWW
August 15, 2011, 11:12:25 AM
 #12

IXCoin is fine.
You are just making free publicity...

The software is open-source and everyone can start a new blockchain...
If you don't like the chain, don't use it...

Sign up for the REWARDMOB ICO and receive 100 RMOB for free! Use the referral 8MIFS57P
https://ticketsale.rewardmob.com
payb.tc
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1000



View Profile
August 15, 2011, 11:15:23 AM
 #13

I will only add that "Thomas Nasakioto" is a re-arrangement of the letters in "Satoshi Nakamoto":

Quote
On top of that, his name is found to be an anagram of Satoshi's full name.

seems you didn't 'add' much Tongue
Nefario
Hero Member
*****
Offline Offline

Activity: 602
Merit: 500


GLBSE Support support@glbse.com


View Profile WWW
August 15, 2011, 11:21:28 AM
 #14

He did change something, two numbers.

The number of blocks to be solved in specified time.

And the number of coins per block.

The consequences of said changes are:

A much larger block chain (storage wise), and the 21million limit will be hit much earlier than with bitcoin.

Looking at it from a free market point of view, comparing two products, bitcoin and....ixcoin.

What are the advantages of ixcoin:Get's to leverage bitcoin technology base, essentially it would be trivial for people who are already accepting bitcoin to accept ixcoin.

what are the dissadvantages: no one is really accepting ixcoin yet, massive initial inflation, steep drop when minting ends.

What are the dangers of holding ixcoin? Apart from their possible loss of value (if there is any there already) the possible (probable?) collapse of the network when minting limit is hit, or even if the network is abandoned before this event.

Sure go ahead with ixcoin, but don't say you haven't been warned.

PGP key id at pgp.mit.edu 0xA68F4B7C

To get help and support for GLBSE please email support@glbse.com
payb.tc
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1000



View Profile
August 15, 2011, 11:26:34 AM
 #15

What are the dangers of holding ixcoin? Apart from their possible loss of value (if there is any there already)

seems it reached a peak of about 0.009 btc and is now hovering between 0.004 and 0.005.
Gabi
Legendary
*
Offline Offline

Activity: 1134
Merit: 1007


If you want to walk on water, get out of the boat


View Profile
August 15, 2011, 11:34:11 AM
 #16

Better i make gabicoin then...

Oldminer
Legendary
*
Offline Offline

Activity: 1022
Merit: 1001



View Profile
August 15, 2011, 11:42:56 AM
 #17


Even if he pays all the bounties as promised there is still a +380K overhead, the bounties sum up to ~200K.

You will see at the bottom of the page it also says - 'Please add your bounties here' (I'm guessing this means more monies will be needed to cover these bounties?). As I understand it it has already been stated publicly that some of the remaining coins have been set aside for additional promotional purposes.

Btw, didnt Satoshi mine Bitcoins before releasing it to the public? And what were these coins used for?

If you like my post please feel free to give me some positive rep https://bitcointalk.org/index.php?action=trust;u=18639
Tip me BTC: 1FBmoYijXVizfYk25CpiN8Eds9J6YiRDaX
wallet.dat
Sr. Member
****
Offline Offline

Activity: 253
Merit: 250


View Profile
August 15, 2011, 04:45:06 PM
 #18

IXCoin is fine.
You are just making free publicity...

The software is open-source and everyone can start a new blockchain...
If you don't like the chain, don't use it...

This.  I don't understand why this infinitely simple concept is so hard for some people to wrap their heads around.

"MOOOOOOOM! THE MEATLOAF!!! F**K!"
shotgun
Member
**
Offline Offline

Activity: 98
Merit: 10



View Profile
August 15, 2011, 05:33:00 PM
 #19

The pre-mined coins were held so bounties could be offered to promote and expand iXcoin

https://ixcoin.org/wiki/index.php?title=Category:Bounties

Which only adds up to 228,500 ixcoins. He kept 351,500 for himself! (you really think he'll even pay a quarter of those bounties?)

He's got 2,109 equivalent in bitcoin at .006 exchange rate. Bitcoins are trading at 11.5 at the moment, so he's holding about $25,000. That's not to mention that tens of thousands he mined after announcing. The only person benefiting from ixcoins is the Nasakioto, who only ripped off bitcoin and added minor changes. I've got to hand it to him, he knows how to profit big off suckers.

People are suckers and only suckers care about IXcoin.

<luke-jr> Catholics do not believe in freedom of religion.
Mousepotato
Hero Member
*****
Offline Offline

Activity: 896
Merit: 1000


Seal Cub Clubbing Club


View Profile
August 15, 2011, 05:37:15 PM
 #20

People are suckers and only suckers care about IXcoin.

That's what everybody told me about Bitcoin.

Mousepotato
Pages: [1] 2 3 4 5 6 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!