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Author Topic: How not to launch a shitcoin  (Read 760 times)
kalus
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January 28, 2014, 10:35:42 AM
 #1

A few of us are getting rich by initial mining new launches of altcoins, and many more are getting screwed by shitty launches.  If you've been here for a week, you know what i'm talking about.

This thread is to commiserate and rofl at the most shambolic new altcoins.  This thread will hopefully help future developers avoid pitfalls.  Please post your own horror stories! 

I'll start:  Rosecoin

https://bitcointalk.org/index.php?topic=424241.0

A quick scan through the thread shows the main developer of Rosecoin screaming in 20pt bold:

Quote from: Rosecoin
Sorry everyone. Seems coins are going to one person.
Your mined coins will be invalid! Will relanch later.

while this alone is confidence inspiring, the developer 'Rosecoin' has a twin 'Rosecoincn' also posting in step, as if they're sharing the same brain.  i guess the 'cn' suffix implies they're going to spread this to a billion Chinese or something. 

Coin has a 30 minute retarget time in 2014.  no source, incomplete wallet, and despite no premine there is somehow a (now closed) giveaway thread. 1.4% of 21 billion coins are initial mined before the wallets are released or the pool starts functioning.  because thread is an unholy fusion of prelaunch, launch, pool, and giveaway, the thread is now locked and rosecoin will hopefully fade from memory like a lingering fart.


What other coins are an example of what not to do? 

DC2ngEGbd1ZUKyj8aSzrP1W5TXs5WmPuiR wow need noms
Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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hilariousandco
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January 28, 2014, 10:43:19 AM
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What other coins are an example of what not to do? 


Most of them  Grin. Rosecoin. Seriously, I love how devs don't even bother coming up with a half-decent name or half-assed purpose any more.

kalus
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January 28, 2014, 11:00:36 AM
 #3

Hamburgercoin

https://bitcointalk.org/index.php?topic=431512.0

This coin is so lame, when you go check the only pool that mines hamburgercoin (the coin for people who like hamburgers, of course!), there are ZERO miners.

Hamburgercoin sucks so bad even the developer cannot be bothered to mine it.

The developer of Hamburgercoin is so fucking uninterested in his own coin, he starts talking about the next FOUR coins he's about to launch on the first page of Hamburgercoin!

BTW.
In fact today I published another 4 but this is for real Smiley
PhoneCoin - TEL
LadyCoin - LADY
BeerCoin - BEER
WWWCoin - WWW

I worked all the night long, I still must go to bad but I'm here.
I must prepare the webs and than I'll create the ANN topic Smiley

Is this the next evolutionary step from 'initial mine'?  just make a shitload of coins, mine a few million, and hope that one takes off?

I feel stupider after reading about hamburgercoin.  I wish i had wrote about Pizzacoin, the coin for people who like pizza.  also written by the same developer. 

DC2ngEGbd1ZUKyj8aSzrP1W5TXs5WmPuiR wow need noms
anotherlateminer
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January 28, 2014, 11:11:07 AM
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The developer of Hamburgercoin is so fucking uninterested in his own coin, he starts talking about the next FOUR coins he's about to launch on the first page of Hamburgercoin!
Oh. My. God.
kalus
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January 28, 2014, 12:44:45 PM
 #5

GrumpyCoin

https://bitcointalk.org/index.php?topic=403936.0;all

On New Years, the developer of this coin woke up a week earlier and asked the forums:

Hi, I just created a Litecoin clone because I'm going to  give a lecture about Cryptocoins to a group of people in a couple of days and I wanted to use my own coin to explain the topic and some technical aspects of it, so I won't release this coin to the public, this was just a personal challenge and an attempt to facilitate the topic for others....

One week later I'm so surprised: out shats a THIRD coin based on cat memes, or 4th if you count nyan which is really half pop-tart, half cat.  Who honestly sees something like Catcoin and says "me too!"?

upon launch, there are no wallets, no pools, and no clue.

the developer shows much pride in his new cryptocurrency:

Please explain it to me step by step cause I'm stupid and i have been trying for hours.
Let me start from the beginning....

There are now people using precious gpu cycles mining a cryptocurrency that the developer himself wasn't even intending to release, or knew exactly how to release.  

a week later, developer realized grumpy cat is a registered US trademark, promptly fucks off, and is never seen again in the thread.  

a week after that, and it's crickets and tumbleweeds in the grumpycat thread.  there are still people mining this, even though the Dev wants nothing to do with his own abortion.  

the rest of the thread is people trying to desperately get the coin listed on an exchange so they can dump it, and people still thinking the developer will return.  

Hellloooooooo, Dev?Huh

this coin is still tragically being mined. 

DC2ngEGbd1ZUKyj8aSzrP1W5TXs5WmPuiR wow need noms
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January 28, 2014, 12:49:39 PM
 #6

The developer of Hamburgercoin is so fucking uninterested in his own coin, he starts talking about the next FOUR coins he's about to launch on the first page of Hamburgercoin!
Oh. My. God.

fucking LOL  Cheesy Cheesy Cheesy Cheesy Cheesy Cheesy Cheesy

So Icy E-Money - Frozentalk.org FD1GwdBjTeMPFdZD5v3cVRG7ZoPJBAuLrf
All these girls excited ,Oooo ya know they like it ,Frozen so icy, so icy ,Haters don't try to fight it ,All yo friends invited ,Frozen so icy, so icy!!
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January 28, 2014, 12:53:23 PM
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hamburgercoin ?? Grin anyways nowadays theres too much altcoins and no real revolution  
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January 28, 2014, 12:59:47 PM
 #8

The developer of Hamburgercoin is so fucking uninterested in his own coin, he starts talking about the next FOUR coins he's about to launch on the first page of Hamburgercoin!
Oh. My. God.

fucking LOL  Cheesy Cheesy Cheesy Cheesy Cheesy Cheesy Cheesy

Haha. Link to the thread. People need to just stop mining these things.

Coinraptor
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January 28, 2014, 01:01:20 PM
 #9

today can anyone launch a coin, there are websites that will launch your coin...clones are worthless, only look into innovation...

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January 28, 2014, 01:23:51 PM
 #10

BeerCoin - BEER
https://bitcointalk.org/index.php?topic=436419.0

Yeah! 5% premine Cheesy
worldo
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January 28, 2014, 03:20:25 PM
 #11

Perhaps limit new coin announcements to only ones with a link to their related website.

If they can't be bothered to pay for one and set it up, their coin will never succeed...
Plus the whois can tell us who are pumping out this junk

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January 28, 2014, 03:48:49 PM
 #12

Perhaps limit new coin announcements to only ones with a link to their related website.

If they can't be bothered to pay for one and set it up, their coin will never succeed...
Plus the whois can tell us who are pumping out this junk



I agree with that.



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January 28, 2014, 03:51:52 PM
 #13

How not to launch a shitcoin:

1: Don't launch it.
2: Rinse and repeat.
3: Huh
4: PROFIT!
anotherlateminer
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January 29, 2014, 09:42:38 AM
 #14

Related thread: https://bitcointalk.org/index.php?topic=419073.0 Smiley
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