Stop and Ban those alt coins copycats now

[plaxant]

I'll be completely honest I started GaltCoin for a couple reasons. First I wanted to know more about how everything works from mining, to how the wallet works, and to see if I could build a product that the market would want.

I would love to see it flourish and hope that it does. But my plan is the create the coin, promote it to the niche market it was intended and let the market decide if and when it reaches an exchange, if companies or individuals will accept it as a currency etc.

I get really frustrated when people accuse me of being a scammer or some other crap because I built this with honest intentions and put quite a bit of work, time and energy into creating something with a very small dedicated team.

But isn't your coin a copycat too , and you already have some serious premined accusation in your own thread...

We used coingen to compile the code yes. And we mined 1000 blocks with a total of 50,000 coins, most of which has been to pay bounties and offer rewards for users creating tools.

[stompix]

I'll be completely honest I started GaltCoin for a couple reasons. First I wanted to know more about how everything works from mining, to how the wallet works, and to see if I could build a product that the market would want.

I would love to see it flourish and hope that it does. But my plan is the create the coin, promote it to the niche market it was intended and let the market decide if and when it reaches an exchange, if companies or individuals will accept it as a currency etc.

I get really frustrated when people accuse me of being a scammer or some other crap because I built this with honest intentions and put quite a bit of work, time and energy into creating something with a very small dedicated team.

But isn't your coin a copycat too , and you already have some serious premined accusation in your own thread...

We used coingen to compile the code yes. And we mined 1000 blocks with a total of 50,000 coins, most of which has been to pay bounties and offer rewards for users creating tools.

Do you have some estimates .. how much you have given out of the premined coins?
With tx or posts to back-up these claims?

[plaxant]

I'll be completely honest I started GaltCoin for a couple reasons. First I wanted to know more about how everything works from mining, to how the wallet works, and to see if I could build a product that the market would want.

I would love to see it flourish and hope that it does. But my plan is the create the coin, promote it to the niche market it was intended and let the market decide if and when it reaches an exchange, if companies or individuals will accept it as a currency etc.

I get really frustrated when people accuse me of being a scammer or some other crap because I built this with honest intentions and put quite a bit of work, time and energy into creating something with a very small dedicated team.

But isn't your coin a copycat too , and you already have some serious premined accusation in your own thread...

We used coingen to compile the code yes. And we mined 1000 blocks with a total of 50,000 coins, most of which has been to pay bounties and offer rewards for users creating tools.

Do you have some estimates .. how much you have given out of the premined coins?
With tx or posts to back-up these claims?

We have an active bounty post up on cryptocointalk so far we've had two bounties claimed for the first pool, and a dedicated block explorer. I am currently running another bounty for 5 paper wallet designs 1000 galt for each selected design.

[AvalonMiner]

As annoying as some are. You cant just ban/stop them..

[zackclark70]

I think we just need a new set of minimum standards for altcoins so people cant just spend 100usd and 10 mins and launch a coin


if the minimum requirements were >

has to have a real person behind not some unaccountable fake name ( not 100% necessary bout would help stop some scams )

cant be I direct clone ( has to have at least 1 thing that's new )

at least 2 pools on launch

windows and Linux clients at launch

block explorer

any premine held in escrow

its own forum

its own website

fair launch ( no instamine )

pre announcement of 7 days

it would stop the casual pump and dumper trying to make a quick buck anybody that wants to do it properly shouldn't have any problems with that as its really the bare minimum

All of that can be done for less than 1btc so every coin that doesn't have that is just a quick pump and dump 

[stompix]

As annoying as some are. You cant just ban/stop them..

Kill the alt section. Problem solved.

[lasciv]

I think we just need a new set of minimum standards for altcoins so people cant just spend 100usd and 10 mins and launch a coin


if the minimum requirements were >

has to have a real person behind not some unaccountable fake name ( not 100% necessary bout would help stop some scams ) I don't think it's necessary, but I prefer real people behind the coin

cant be I direct clone ( has to have at least 1 thing that's new ) ---This is very good!

at least 2 pools on launch

windows and Linux clients at launch

block explorer

any premine held in escrow --- This is very good!

its own forum

its own website

fair launch ( no instamine )

pre announcement of 7 days    --- I disagree, because it will be instamined to death. I think silent launch is the best way to do it.

it would stop the casual pump and dumper trying to make a quick buck anybody that wants to do it properly shouldn't have any problems with that as its really the bare minimum

All of that can be done for less than 1btc so every coin that doesn't have that is just a quick pump and dump 

This should be thoroughly discussed in Alt section.

[zackclark70]

I think we just need a new set of minimum standards for altcoins so people cant just spend 100usd and 10 mins and launch a coin


if the minimum requirements were >

has to have a real person behind not some unaccountable fake name ( not 100% necessary bout would help stop some scams ) I don't think it's necessary, but I prefer real people behind the coin

cant be I direct clone ( has to have at least 1 thing that's new ) ---This is very good!

at least 2 pools on launch

windows and Linux clients at launch

block explorer

any premine held in escrow --- This is very good!

its own forum

its own website

fair launch ( no instamine )

pre announcement of 7 days    --- I disagree, because it will be instamined to death. I think silent launch is the best way to do it.

it would stop the casual pump and dumper trying to make a quick buck anybody that wants to do it properly shouldn't have any problems with that as its really the bare minimum

All of that can be done for less than 1btc so every coin that doesn't have that is just a quick pump and dump 

This should be thoroughly discussed in Alt section.

I think with the correct difficulty retargeting and a genesis block that's mined at a reasonable diff  instamining wouldn't be an issue

I have mentioned this in the altcoins section as well as a few other people but what happens s that the thread gets trolled to death by people that believe that because its a free market people shouldn't be forced into doing stuff and came its censorship 


the coin I work on / now run was premined by the founder and at first it was all going well ( all ledgerd out and used for what it was ment for )
but after a while the ledger stopped and the amount of remaining coins dropped considerably and as of now the founder has vanished leaving me to run the coin / pay for all of the repair work /where the last of the premine went 

most coins start with good intentions but over time things change   if I knew who the founder really was I would be able to hold him accountable for the loss of the premine so knowing a real name or coins put in escrow for premine is a must

[plaxant]

I think we just need a new set of minimum standards for altcoins so people cant just spend 100usd and 10 mins and launch a coin


if the minimum requirements were >

has to have a real person behind not some unaccountable fake name ( not 100% necessary bout would help stop some scams ) I don't think it's necessary, but I prefer real people behind the coin

cant be I direct clone ( has to have at least 1 thing that's new ) ---This is very good!

at least 2 pools on launch

windows and Linux clients at launch

block explorer

any premine held in escrow --- This is very good!

its own forum

its own website

fair launch ( no instamine )

pre announcement of 7 days    --- I disagree, because it will be instamined to death. I think silent launch is the best way to do it.

it would stop the casual pump and dumper trying to make a quick buck anybody that wants to do it properly shouldn't have any problems with that as its really the bare minimum

All of that can be done for less than 1btc so every coin that doesn't have that is just a quick pump and dump 

This should be thoroughly discussed in Alt section.

If I could relaunch GaltCoin I would do this. The problem is there isn't a handy guide on how to do this the right way.

[lasciv]

Holy shit zack, this is out of control.. 

I can't believe how people fall for just about anything. we definitely need some standards, we're doomed if everything stays like this..

[aminorex]

I definitely think a subforum hierarchy would benefit the alt topics.

[SaltySpitoon]

This is a Bitcoin forum, we have no interest in picking and choosing what coins are more legitimate than others. Alt Coin specific forums can take on the task of making their own standards.

I'm not talking about this thread in particular, but I'm actually noticing that people "petitioning" against coins are actually just as spammy as the coins themselves. You are welcome to dislike a coin and post a warning about it/your opinion, but please don't post that same warning 57 times like some other people...

[FreddyFender]

This is a Bitcoin forum, we have no interest in picking and choosing what coins are more legitimate than others. Alt Coin specific forums can take on the task of making their own standards.

I'm not talking about this thread in particular, but I'm actually noticing that people "petitioning" against coins are actually just as spammy as the coins themselves. You are welcome to dislike a coin and post a warning about it/your opinion, but please don't post that same warning 57 times like some other people...

As a long-suffering oldtimer, I thank you for your realization that this is all cosmetic balderdash and everyone gets to stand on his/her/its merit. No favorites, no demands, just all to the wall. As in regard to scammers, it has always been proportional and unavoidable.

[SaltySpitoon]

As a long-suffering oldtimer, I thank you for your realization that this is all cosmetic balderdash and everyone gets to stand on his/her/its merit. No favorites, no demands, just all to the wall. As in regard to scammers, it has always been proportional and unavoidable.

If a coin sucks, you can do your part by not using it. Let those that think its a great idea get burnt, and maybe they will do a little extra research next time. I don't see why people feel they have the right to make the choice for others what coins they can or can't use. If you don't like it, don't use it. If its a horrible idea, let the market take its course, tis a whole lot easier not to waste your time petitioning, and just let the coin run its course.

[zackclark70]

As a long-suffering oldtimer, I thank you for your realization that this is all cosmetic balderdash and everyone gets to stand on his/her/its merit. No favorites, no demands, just all to the wall. As in regard to scammers, it has always been proportional and unavoidable.

If a coin sucks, you can do your part by not using it. Let those that think its a great idea get burnt, and maybe they will do a little extra research next time. I don't see why people feel they have the right to make the choice for others what coins they can or can't use. If you don't like it, don't use it. If its a horrible idea, let the market take its course, tis a whole lot easier not to waste your time petitioning, and just let the coin run its course.

it wouldn't be about telling people what they can and cant use its about raising the standards if you cant see why having some basic standards would help everyone you shouldn't be a moderator

[drakoin]

I think we just need a new set of minimum standards for altcoins so people cant just spend 100usd and 10 mins and launch a coin

if the minimum requirements were >

has to have a real person behind not some unaccountable fake name ( not 100% necessary bout would help stop some scams ) I don't think it's necessary, but I prefer real people behind the coin

cant be I direct clone ( has to have at least 1 thing that's new ) ---This is very good!

at least 2 pools on launch

windows and Linux clients at launch

block explorer

any premine held in escrow --- This is very good!

its own forum

its own website

fair launch ( no instamine )

pre announcement of 7 days   --- I disagree, because it will be instamined to death. I think silent launch is the best way to do it.

it would stop the casual pump and dumper trying to make a quick buck anybody that wants to do it properly shouldn't have any problems with that as its really the bare minimum

All of that can be done for less than 1btc so every coin that doesn't have that is just a quick pump and dump  

This should be thoroughly discussed in Alt section.

If I could relaunch GaltCoin I would do this. The problem is there isn't a handy guide on how to do this the right way.

That's it --> handy guide

What about discussing this, adding more to it, some re-formulating and polishing,
and when the text seems ready then make it sticky in the announcement subforum?

As a guideline for fresh users

"Do not waste your time with new coins unless they provide most of this:"
...
...
...

[drakoin]

I think we just need a new set of minimum standards for altcoins so people cant just spend 100usd and 10 mins and launch a coin
if the minimum requirements were >
has to have a real person behind not some unaccountable fake name ( not 100% necessary bout would help stop some scams ) I don't think it's necessary, but I prefer real people behind the coin
cant be I direct clone ( has to have at least 1 thing that's new ) ---This is very good!
at least 2 pools on launch
windows and Linux clients at launch
block explorer
any premine held in escrow --- This is very good!
its own forum
its own website
fair launch ( no instamine )
pre announcement of 7 days   --- I disagree, because it will be instamined to death. I think silent launch is the best way to do it.
it would stop the casual pump and dumper trying to make a quick buck anybody that wants to do it properly shouldn't have any problems with that as its really the bare minimum
All of that can be done for less than 1btc so every coin that doesn't have that is just a quick pump and dump  

This should be thoroughly discussed in Alt section.

If I could relaunch GaltCoin I would do this. The problem is there isn't a handy guide on how to do this the right way.

That's it --> handy guide
What about discussing this, adding more to it, some re-formulating and polishing,
and when the text seems ready then make it sticky in the announcement subforum?
As a guideline for fresh users
"Do not waste your time with new coins unless they provide most of this:"

maxcoin failed completely, and on so many levels today.


.


Max Keiser f$$$ed these up:

* at least 2 pools on launch

* windows and Linux clients at launch

* block explorer

* its own forum

* fair launch ( no instamine )



only nvidias are really mining anything, because cbuchner created
a keccak-cudaminer - it's essentially an instamine for a minority now.

The first Max are already sold on an exchange for incredibly much BTC.


cpu mining works, but still no working pool known (and diff @382),
1st page of thread not updated,
no windows qt-client

- and total chaos


Many many people lost half a night to MaxKeiser for nothing.

MaxCoin ‏@maxcoinproject
Appolgies to anyone who has experienced issues today, we're working on the problems and improvements will be on their way tomorrow

https://twitter.com/maxcoinproject/status/431593715468357633


A very good example for how not to launch an altcoin. TV stars ...