[ANN] Levelcoin - Proof of Stake / Proof of Burn Hybrid - Inflation Immune

[doitnow]

To the two people attacking me for being proactive, feel free to calm down. I'm not asking for anything now except for a group of interested people to talk to about trying to find a way to actually produce this idea. I'm fully willing to divulge my identity to whatever team we work with, including responding to whatever requests will make those involved comfortable. I see a legitimate business opportunity here as well as the unique ability to create and produce something genuinely new and exciting. I have some ideas and would like to brainstorm with interested parties, which if that's not you, I don't blame you. A lot of scams go on here it seems like and I would be weary as well.

I'm not even saying we would get to production or even get to a point where we could start talking about funds, but shooting around some ideas seems like a good start. I do only have 11 activity on here. I made an account for the first time to ask questions of Levelcoin because I was truly interested in this. I still am. If no one else is then there is our answer. IF they are, lets talk about it. That's all i'm saying.

are you LeoC? or Cossakman?? I hope people don't buy this bullshit. DO NOT TRUST THIS GUY

I don't know who you are and haven't seen you on this thread until just now (I could have missed your posts), but you're being kind of rude. Honestly, I kind of feel like maybe who you are should be questioned. I didn't ask you for a dime nor anyone else. I am simply trying to start a dialogue on a possible method of creating a coin that runs off of a Proof of Burn / Stake hybrid system like described here because I think it's a great idea. There are thousands of people on this forum tossing around ideas, why have you decided I am the problem? There are others on this very thread saying the exact same things I am and no one is persecuting them? I don't get it.

On a side note, if I were Levelcoin, I wouldn't have run away with everyone's money. I would have paid a developer and put the coin out. I think he and everyone involved had a lot more to gain from actually developing the coin rather than turning it into a scam. He ran off with what, a max of 20 or 30 BTC? Being the developer and creator of this coin probably could have gotten him that much in donations alone from early investors who cashed out 3 or 4x that from their initial investments. He's a moron for leaving his idea here for someone else to develop and prosper from, plain and simple.

Edit: I went back and looked and you did post a couple times after the thread started looking like a scam. So I did miss your posts.

it's just more bulshit but it's none of my business. GOOD LUCK

[MsCollec]

[quote author=GreXX

On a side note, if I were Levelcoin, I wouldn't have run away with everyone's money. I would have paid a developer and put the coin out. I think he and everyone involved had a lot more to gain from actually developing the coin rather than turning it into a scam. He ran off with what, a max of 20 or 30 BTC? Being the developer and creator of this coin probably could have gotten him that much in donations alone from early investors who cashed out 3 or 4x that from their initial investments. He's a moron for leaving his idea here for someone else to develop and prosper from, plain and simple.

[/quote]
Are you not around during Visacoin scam the guy got $100k plus in funding and till today no words from Visacoin. They are seems connected to me it's easy to have the concept for a new coin, development is the hardest part. I'm sure around IPO scam is around the corner.

[Calogero Izotz]

The model of "fund now and develop later" doesn't seem to be working too well.

Develop first, show proof of concept,  distribute thru proof of burn. 

Then, if necessary,  gather funds for particular purposes, from funders, who have skin in the game and are therefore motivated to scrutinize development and cover (or refuse to cover)  additional expenses. This way funders continuously participate in project development , voting with money, instead of relying on devs decisions in distribution of ipo funds.

[Calogero Izotz]

To the two people attacking me for being proactive, feel free to calm down. I'm not asking for anything now except for a group of interested people to talk to about trying to find a way to actually produce this idea. I'm fully willing to divulge my identity to whatever team we work with, including responding to whatever requests will make those involved comfortable. I see a legitimate business opportunity here as well as the unique ability to create and produce something genuinely new and exciting. I have some ideas and would like to brainstorm with interested parties, which if that's not you, I don't blame you. A lot of scams go on here it seems like and I would be weary as well.

I'm not even saying we would get to production or even get to a point where we could start talking about funds, but shooting around some ideas seems like a good start. I do only have 11 activity on here. I made an account for the first time to ask questions of Levelcoin because I was truly interested in this. I still am. If no one else is then there is our answer. IF they are, lets talk about it. That's all i'm saying.

are you LeoC? or Cossakman?? I hope people don't buy this bullshit. DO NOT TRUST THIS GUY

I don't know who you are and haven't seen you on this thread until just now (I could have missed your posts), but you're being kind of rude. Honestly, I kind of feel like maybe who you are should be questioned. I didn't ask you for a dime nor anyone else. I am simply trying to start a dialogue on a possible method of creating a coin that runs off of a Proof of Burn / Stake hybrid system like described here because I think it's a great idea. There are thousands of people on this forum tossing around ideas, why have you decided I am the problem? There are others on this very thread saying the exact same things I am and no one is persecuting them? I don't get it.

On a side note, if I were Levelcoin, I wouldn't have run away with everyone's money. I would have paid a developer and put the coin out. I think he and everyone involved had a lot more to gain from actually developing the coin rather than turning it into a scam. He ran off with what, a max of 20 or 30 BTC? Being the developer and creator of this coin probably could have gotten him that much in donations alone from early investors who cashed out 3 or 4x that from their initial investments. He's a moron for leaving his idea here for someone else to develop and prosper from, plain and simple.

Edit: I went back and looked and you did post a couple times after the thread started looking like a scam. So I did miss your posts.

It's not his idea.

https://en.bitcoin.it/wiki/Proof_of_burn

[GreXX]

[quote author=GreXX

On a side note, if I were Levelcoin, I wouldn't have run away with everyone's money. I would have paid a developer and put the coin out. I think he and everyone involved had a lot more to gain from actually developing the coin rather than turning it into a scam. He ran off with what, a max of 20 or 30 BTC? Being the developer and creator of this coin probably could have gotten him that much in donations alone from early investors who cashed out 3 or 4x that from their initial investments. He's a moron for leaving his idea here for someone else to develop and prosper from, plain and simple.

Are you not around during Visacoin scam the guy got $100k plus in funding and till today no words from Visacoin. They are seems connected to me it's easy to have the concept for a new coin, development is the hardest part. I'm sure around IPO scam is around the corner.
[/quote]

I have only been around the Crypto realm for a few months. I was fairly late to the game. I originally got interested in Stablecoin because I feel like the anonymity feature, if released, would be a huge boost to the currency and end up causing a significant rise in price. I mined SBC for a couple months, read the main thread and posted a couple times on the stablecoin.net forum. I then got to a point where I was happy with my holdings and started looking for a second currency to hedge my bets and not "put all my eggs in one basket". That lead me to this thread and I liked the idea but obviously we all know how that went. I'm currently mining most profitable and trading into Hobonickels because I like the PoW/PoS system they employ and the developer seems very involved. I understand Bitcoin, Litecoin, Stablecoin, and Hobonickels but that's about as far as my knowledge base goes right now. I notice everyone talking about NXT and I know the bare minimum about it but I haven't taken the time to read any papers on how their system works.

Since it will be a while before anyone can put a PoB coin into market, anyone have any other suggestions on solid coins to invest in?

[td services]

XCP, https://bitcointalk.org/index.php?topic=395761.0;topicseen , is pure proof of burn, burn ending in the next couple/three days at a certain BTC block number. Level Coin idea is more than simple PoB described in wiki link above with its two level system.

[TheMightyX]

On a side note, if I were Levelcoin, I wouldn't have run away with everyone's money. I would have paid a developer and put the coin out. I think he and everyone involved had a lot more to gain from actually developing the coin rather than turning it into a scam. He ran off with what, a max of 20 or 30 BTC? Being the developer and creator of this coin probably could have gotten him that much in donations alone from early investors who cashed out 3 or 4x that from their initial investments. He's a moron for leaving his idea here for someone else to develop and prosper from, plain and simple.

Are you not around during Visacoin scam the guy got $100k plus in funding and till today no words from Visacoin. They are seems connected to me it's easy to have the concept for a new coin, development is the hardest part. I'm sure around IPO scam is around the corner.

I have only been around the Crypto realm for a few months. I was fairly late to the game. I originally got interested in Stablecoin because I feel like the anonymity feature, if released, would be a huge boost to the currency and end up causing a significant rise in price. I mined SBC for a couple months, read the main thread and posted a couple times on the stablecoin.net forum. I then got to a point where I was happy with my holdings and started looking for a second currency to hedge my bets and not "put all my eggs in one basket". That lead me to this thread and I liked the idea but obviously we all know how that went. I'm currently mining most profitable and trading into Hobonickels because I like the PoW/PoS system they employ and the developer seems very involved. I understand Bitcoin, Litecoin, Stablecoin, and Hobonickels but that's about as far as my knowledge base goes right now. I notice everyone talking about NXT and I know the bare minimum about it but I haven't taken the time to read any papers on how their system works.

Since it will be a while before anyone can put a PoB coin into market, anyone have any other suggestions on solid coins to invest in?

Any of the coins with block rewards halving in the next couple days.
Kittehcoin and vertcoin are very promising with active devs and new features (nameid for kittehcoin and adaptive n-scrypting for vertcoin).
kittehcoin are very cheap on coinedup.com right now.

[Calogero Izotz]

XCP, https://bitcointalk.org/index.php?topic=395761.0;topicseen , is pure proof of burn, burn ending in the next couple/three days at a certain BTC block number. Level Coin idea is more than simple PoB described in wiki link above with its two level system.

Counterparty is not a proof of burn coin, where proof of burn is an alternative to proof of work or proof of stake as a way to secure transactions in a system. Proof of burn in Counterparty means it's coins are distributed to those sending funds to an unspendable address. No more coins will be created after burn ends.  Counterparty will rely on Bitcoin's proof of work for security.

How is Level Coin idea more than PoB described in wiki link?  Two level system means that there are regular coins and burned coins.

[TheMightyX]

I would like to add some new information.

After a quick WHOIS of the domain name Levelcoin.com shows the registrant to be (Disclaimer: this is public information):

Lukas Saul
luke.saul@gmail.com
brunnmattstrasse 24
bern
Switzerland
postal code 3007
(603) 749-2697

There is indeed a Lukas Saul attending a Bern university in switzerland but that doesn't add up. That Lukas is hella smart and wouldn't be wasting his time with crap like this. Also that phone number looks like a North American one.

Looking up that phone number it does indeed belong to one:

Lukas Saul
18 Samuel Hanson Ave
located in Dover, New hampshire
Postal code 03820

tl;dr:

Did he really have the foresight to impersonate someone else or was this a slip up?
Why was the site not registered to "David Elsinger"?
Is it just a coincidence that someone else registered Levelcoin.com?
It was actually registered in 2012. It was only updated recently this month on the 12th, several days before starting this thread.

[blueangel01]

I hope someone could start a class action lawsuit against this scammers to teach them a lesson.

I checked the bitcoin blockchain and the funds was moved 5 - 7 times to a different address as soon as the payment is confirmed and all funds ends in this address:

1A8TjzfdFC235ZMoYvwVMi3Yz7BE5GGff5 14.89873683 BTC $ 12,213.09

[Nullu]

How many times does it took for people to be scammed of their money to realise all these IPOs are scams?

[blueangel01]

How many times does it took for people to be scammed of their money to realise all these IPOs are scams?

Well this is the 1st time i got scammed in the IPO, 0.1 BTC... i just wanna try it...
Sometimes, it i have to be scammed in order for me to think clearly... now i know what to look for in IPOs.

[irrawaddybtc]

How many times does it took for people to be scammed of their money to realise all these IPOs are scams?

Well this is the 1st time i got scammed in the IPO, 0.1 BTC... i just wanna try it...
Sometimes, it i have to be scammed in order for me to think clearly... now i know what to look for in IPOs.

This is my first time too for .5 BTC - not a bad price for a lesson.

[MsCollec]

How many times does it took for people to be scammed of their money to realise all these IPOs are scams?

Well this is the 1st time i got scammed in the IPO, 0.1 BTC... i just wanna try it...
Sometimes, it i have to be scammed in order for me to think clearly... now i know what to look for in IPOs.

This is my first time too for .5 BTC - not a bad price for a lesson.

Not that bad, I have  lost total of 5 btc in IPO scam,  thank God I didn't Invested or I will have to sleep on the couch for the whole week 

[drepteck]

These IPO scams are definitely bad, but crypto as a whole has not been widely adopted worldwide, and as long as there are new members joining the forums daily, you can expect new scams, each time more clever than the last, to continue showing up. Levelcoin received scam accusation immediately upon being posted and yet still managed to garner a sizable amount of bitcoins before running with the cash. This will not be the end, expect more in the coming days and unfortunately there is nothing anyone can do about them, we can shout scam all day long and people will still take the plunge. The only solution is for the administrators of this forum to implement a rule where NO IPO's or pre-launch fundraiser are allowed without a full public source code. That will settle it once and for all, and is it really that difficult for everyone involved? The legit devs won't have a problem uploading the source and the admins would simple need to make a sticky post detailing how this is rule will be enforced. If someone asked for an IPO and doesn't provide source, lock their thread and slap them with a warning, if they do it again, ban them.

[blueangel01]

I will be aggressive next time when i see a questionable IPO or other scams. I guess a lot of people would have to spam the admin in order to lock this thread.

The funds have been moved to:

1EyHXBhG5BmorpUTe3f1zbweanbEddJ12s 14.86483683 BTC

[opticalcarrier]

yeah i see the admins possibly just getting rid of altcoin section altogether to get rid of the IPO scamming issue.
there have been rumblings of big changes coming, new board s/w redesign, etc

[Gorgoy]

The model of "fund now and develop later" doesn't seem to be working too well.

Develop first, show proof of concept,  distribute thru proof of burn. 

Then, if necessary,  gather funds for particular purposes, from funders, who have skin in the game and are therefore motivated to scrutinize development and cover (or refuse to cover)  additional expenses. This way funders continuously participate in project development , voting with money, instead of relying on devs decisions in distribution of ipo funds.

I could not agree more, very well said

[FrictionlessCoin]

The model of "fund now and develop later" doesn't seem to be working too well.

Develop first, show proof of concept,  distribute thru proof of burn. 

Then, if necessary,  gather funds for particular purposes, from funders, who have skin in the game and are therefore motivated to scrutinize development and cover (or refuse to cover)  additional expenses. This way funders continuously participate in project development , voting with money, instead of relying on devs decisions in distribution of ipo funds.

I could not agree more, very well said

Sound like a good approach.

[td services]

The model of "fund now and develop later" doesn't seem to be working too well.

Develop first, show proof of concept,  distribute thru proof of burn. 

Then, if necessary,  gather funds for particular purposes, from funders, who have skin in the game and are therefore motivated to scrutinize development and cover (or refuse to cover)  additional expenses. This way funders continuously participate in project development , voting with money, instead of relying on devs decisions in distribution of ipo funds.

I could not agree more, very well said

Sound like a good approach.

Concurrent fund raising and development can work, based on progress. This is how most start-ups are funded, with seed funds coming in in stages.

I lost a coin in this, and knew very well the risk I was taking, posting red flags here all along. A number of us are interested in continuing this project. The last thing I want to see is other people deciding whether or not I have this option or dictating how a pre-sale is to be handled. I've come to crypto assets to escape that kind of crap.