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Author Topic: I0Coin is a SCAM  (Read 6551 times)
Xephan
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August 17, 2011, 03:13:47 PM
 #41

yes I got about 9 coins from btc guild.. it didn't seem right at all which is why I changed to http://i0.digbtc.net/
but their page seems down now for some reason

Still up for me. When did you switch to i0.digbtc.net? If 9 coins were all you got from BTCG, then I would assume the rest of your 81 coins at the time you posted about having 90 coints, were all from i0digbtc?

I think that maybe if you had stuck to btcg, you would had came out ahead. I had pretty much zero coin for the first few difficulties but that was pretty much expected. Once it took more than 2~3 shares per block, my coin rate went up tremendously. Due to the sheer amount of hashing power BTCG have, it would also had been able to void/orphan blocks from other pools as well simply by racing ahead with a longer blockchain.

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twobits
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August 17, 2011, 03:20:20 PM
 #42


Fair enough.   I do think that without the bounties, the services made for ixcoin and also  i0coin would not have been made so quickly though.  

It will be interesting to see how much interest either of these chains has in  another month or two.


The bounties do help of course. The problem, which many of us pointed out, was the sheer amount. The pre-existing coins will have an effect on the valuation of the forked coin. So having 5800 would had probably been as good as 580K simply because each would be valued more anyway. If I'm not wrong, due to this i0coin is trading for twice or thrice the ixcoin value?



Yeah.   Don't know if that is why, or just because it is now the newest chain, so hence where the actions is.   At this point I am waiting a month or two then checking where the prices are before I draw any conclusions which is preferred by people.

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August 17, 2011, 03:32:42 PM
 #43

yes I got about 9 coins from btc guild.. it didn't seem right at all which is why I changed to http://i0.digbtc.net/
but their page seems down now for some reason

Still up for me. When did you switch to i0.digbtc.net? If 9 coins were all you got from BTCG, then I would assume the rest of your 81 coins at the time you posted about having 90 coints, were all from i0digbtc?

I think that maybe if you had stuck to btcg, you would had came out ahead. I had pretty much zero coin for the first few difficulties but that was pretty much expected. Once it took more than 2~3 shares per block, my coin rate went up tremendously. Due to the sheer amount of hashing power BTCG have, it would also had been able to void/orphan blocks from other pools as well simply by racing ahead with a longer blockchain.


Yeah I forgot the exact time. I actually barely slept at all last night but I had a PC repair job this morning. Came back from that and spent most of the day sleeping while my miners purred in the background.

http://i0.digbtc.net/ for me seems to bring up a blank page. http://www.digbtc.net/ does seem to take a long time to respond but did come up eventually.


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Xephan
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August 17, 2011, 03:54:52 PM
 #44


Yeah I forgot the exact time. I actually barely slept at all last night but I had a PC repair job this morning. Came back from that and spent most of the day sleeping while my miners purred in the background.

http://i0.digbtc.net/ for me seems to bring up a blank page. http://www.digbtc.net/ does seem to take a long time to respond but did come up eventually.



io.digbtc.net comes up almost instantly for me, despite close to 300ms ping. On the other hand www.digbtc.net takes a while to respond despite the server pinging under 200ms. Cheesy

You might want to traceroute the pools and see which is actually better for you. It might be how your ISP routes to the pool that's causing your mining efficiency to drop even further.



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wallet.dat
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August 17, 2011, 04:17:11 PM
 #45

We should have known it was a scam from the get go when it was advertised as an "Ixcoin fork".  I mean I'm not sure how much clearer it could have been.

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August 17, 2011, 05:15:22 PM
 #46

We should have known it was a scam from the get go when it was advertised as an "Ixcoin fork".  I mean I'm not sure how much clearer it could have been.
Yeah, thats why i forked the bitcoin client and worked from that code directly.
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August 17, 2011, 05:40:50 PM
 #47

what happened to the exchange

make it rain haha
btc 176MrZ3CCXGb1GqFiGaoqQpaynzYqZsW6n
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August 17, 2011, 06:23:42 PM
 #48

what happened to the exchange

Yeah it appears that the i0coin exchange is down as well as the i0pool. DoubleC??

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August 18, 2011, 12:42:09 AM
 #49

Xephan: Yeah I just withdrew ~140 from i0.digbtc.
I wanted to sell them before I went to bed though as I expected a crash.

I do remember there was something about a DDoS attempt in i0 guild at the time.

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caston
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August 18, 2011, 04:46:24 AM
 #50

1) wait until someone launches new p2p currency
2) have pool ready
3) get everyone to mine new p2p currency on your pool
3) use your less than 1 ms latency to mine the shit out of new p2p currency while your pool ensures that you control the blockchain
4) if people complain about only stales while your getting all the blocks blame it on the low difficulty
5) dump coins on exchange to get all the investors bitcoins
6) profit

As a side node I was going to transfer money to mtgox to buy bitcoins to buy i0coins. Very glad I didn't now. My last transfer of $800 AUD is nearly entirely down the toilet thanks this rubbish mostly lost on IXcoin but my hashing power was  wasted on i0 coin.
I'm sure the guys that hold most of the i0 coins will relieve the other  suckers investors of their bitcoins soon.

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bitv
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August 18, 2011, 06:02:20 AM
 #51

1) wait until someone launches new p2p currency
2) have pool ready
3) get everyone to mine new p2p currency on your pool
3) use your less than 1 ms latency to mine the shit out of new p2p currency while your pool ensures that you control the blockchain
4) if people complain about only stales while your getting all the blocks blame it on the low difficulty
5) dump coins on exchange to get all the investors bitcoins
6) profit


This is not i0coins's fault and does not make it a scam.
ArtForz
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August 18, 2011, 11:18:44 AM
 #52

1) wait until someone launches new p2p currency
2) have pool ready
3) get everyone to mine new p2p currency on your pool
3) use your less than 1 ms latency to mine the shit out of new p2p currency while your pool ensures that you control the blockchain
4) if people complain about only stales while your getting all the blocks blame it on the low difficulty
5) dump coins on exchange to get all the investors bitcoins
6) profit


This is not i0coins's fault and does not make it a scam.
It's also flat out wrong.
Maybe next time try using a miner that can handle > 1 longpoll/second and doesn't need half a eternity from finding a H==0 to submitting a share.
I did that, got >700 of the early blocks with 6Ghps and a 180ms ping to io.btcguild.

bitcoin: 1Fb77Xq5ePFER8GtKRn2KDbDTVpJKfKmpz
i0coin: jNdvyvd6v6gV3kVJLD7HsB5ZwHyHwAkfdw
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August 18, 2011, 11:24:11 AM
 #53

The value of these coins is so close to zero, it's really not worth fighting over. If you're bummed you didn't get as many as you expect, wait until an exchange opens, spend $1,000, and buy a buttload of 'em.

When the Ixcoin exchange opened, someone bought 230,000 coins for around $1,100.

I am an employee of Ripple.
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Oldminer
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August 18, 2011, 11:31:51 AM
 #54

Well well..what have we here LOL...

So ioucoins has its own scam thread now? Interesting. But imo, for anyone that was ready to mine iocoin at its release, it's in no way surprising...it was only a matter of time. Hell, I could have started this thread myself, but I figured I'd let things take their natural course. But lol,..aint karma a bitch?

As I stated in another thread -

"In my opinion the whole thing was dodgy from the very beginning - imo right from the outset no-one could mine. The creators of this scam uploaded software that simply didnt exist on release and then they re-released it and the files were there but the software didnt work. Then they had to release it again. Once it did work an hour or more later (at least to some degree for some people from what I have read), IO Guild put a message up on their website along the lines of 'when you're finished with this ponzi scheme come mine Bitcoins at BT Guild' (I'm not sure how much more obvious you can make it than that) and then this was promptly taken down when some of the people mining ioucoins took offence to it. Seriously...the whole thing stinks. Course there's people on the exchange now trying to flog off their coins to anyone that will buy.."

haha..


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Raoul Duke
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August 18, 2011, 11:36:49 AM
 #55

Well well..what have we here LOL...

So ioucoins has its own scam thread now?

Oh, it's still very far from reaching the ammount of pages your dear "Ixcoin is a SCAM" thread has... and probably never will reach it.

Disclaimer: My above statement doesn't mean that I0coin is less of a scam than Ixcoin is.

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August 18, 2011, 11:38:56 AM
 #56


My above statement doesn't mean that I0coin is less of a scam than Ixcoin is.

Thanks. You really are a simpleton arent you?  Grin

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ArtForz
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August 18, 2011, 11:40:06 AM
 #57

Well well..what have we here LOL...

So ioucoins has its own scam thread now? Interesting. But imo, for anyone that was ready to mine iocoin at its release, it's in no way surprising...it was only a matter of time. Hell, I could have started the thread myself, but I figured I'd let things take their natural course. But lol..aint karma a bitch?

As I stated in another thread -

"In my opinion the whole thing was dodgy from the very beginning - imo right from the outset no-one could mine. The creators of this scam uploaded software that simply didnt exist on release and then they re-released it and the files were there but the software didnt work. Then they had to release it again. Once it did work an hour or more later (at least to some degree for some people from what I have read), IO Guild put a message up on their website along the lines of 'when you're finished with this ponzi scheme come mine Bitcoins at BT Guild' (I'm not sure how much more obvious you can make it than that) and then this was promptly taken down when some of the people mining ioucoins took offence to it. Seriously...the whole thing stinks. Course there's people on the exchange now trying to flog off their coins to anyone that will buy.."

haha..


So now we're even too lazy to come up with original FUD and resort to copypasta.

bitcoin: 1Fb77Xq5ePFER8GtKRn2KDbDTVpJKfKmpz
i0coin: jNdvyvd6v6gV3kVJLD7HsB5ZwHyHwAkfdw
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August 18, 2011, 11:41:58 AM
 #58


So now we're even too lazy to come up with original FUD and resort to copypasta.


Sorry bud - it gets kinda 'busy' round here lol....

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Raoul Duke
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August 18, 2011, 11:43:50 AM
 #59


My above statement doesn't mean that I0coin is less of a scam than Ixcoin is.

Thanks. You really are a simpleton arent you?  Grin

Not as much as you are, and not as much as scammers wish i was...

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August 18, 2011, 11:50:34 AM
 #60

Well well..what have we here LOL...

So ioucoins has its own scam thread now?

Oh, it's still very far from reaching the ammount of pages your dear "Ixcoin is a SCAM" thread has... and probably never will reach it.

Disclaimer: My above statement doesn't mean that I0coin is less of a scam than Ixcoin is.
Less of a scam than ixcoin? Obviously, simply for the reason of having no anonymous founder sitting on 500k coins.
Not a scam? Well... not a *intentional* scam. Imo the whole thing will end up as a pyramid scheme with "investors" holding a bunch of worthless coins simply because it's a alternate blockchain bringing nothing of real value to the table.
So... why did I mine it? Well... why not? I also threw > 10Ghps at testnet for a day just for fun.

bitcoin: 1Fb77Xq5ePFER8GtKRn2KDbDTVpJKfKmpz
i0coin: jNdvyvd6v6gV3kVJLD7HsB5ZwHyHwAkfdw
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