SC Releases his 'white paper', hilarity ensues

[johnj]

Haha yeah what a scammer I am. Spending weeks and working 12+ hour days to make a better product, implementing CPU mining so more people can generate SC, improving security and performance.

If I was a scammer you know what I would do? I'd release a slightly modified chain which does barely anything different (TBX/GG) premine 7 million coins and not really tell anyone about it until some days later. That requires only maybe an hour of my life vs the 1000+ hours I've invested already.

Please get some perspective.

Your deffering to the actions of Lolcust is irrelevent.  If you want to press that Lolcust is a scammer - go ahead lay out your case of his consistent, deliberate deceit.

Going by your history though - it's now clear this is an actual scam.  Others need to be warned about your deceitful activities with you receiving the appropriate scammer label.

[Raoul Duke]

While I wrote this you got another 25.6 SC richer for doing nothing.

How can he be richer if all you guys say his coins are worthless?
what you're saying doesn't make any sense...

[CoinHunter]

SC1 had 30000 premined for bounties, currently my personal wallet has ~115000 SC...
The fact that I personally take a cut of all minted coins is not written on the website.

Use terms like CPF if you want.  I fixed your post to reflect reality.

As far as the block chain.  The block chain is backwards looking.  It can't provide any oversight.  It can't prevent you from similar taking the funds and spending them, or laundering them, or claiming "we got hacked" (aka mybitcoin).

You may not like what SC2.0 does to siphon funds from unsuspecting users into my personal wallet file. Either way, it's the most advanced con out there, and will only get better.

Fixed your post again.   The only thing "getting better" is your personal wealth.  At the rate of 6.4 SC siphoned out of the Solid Coin economy every even block.  Things are looking up.  While I wrote this you got another 25.6 SC richer for doing nothing.

I think you mean your version of reality, so let me correct that for you. As of right now I've safely handed out 33000 in bounties personally, I have a history of not scamming people to this point. That said I don't think anything will change your mindset and that's ok. I suppose you'll want to educate as many people as possible about the imminent SC scam threat, you can do that too I guess, just don't try to pass off lies or mistruths as fact and I don't mind.

I think everyone has a right to question whether or not I can safely handle the CPF and also the other "Trust" factors that have been added to SC2.0. I don't have a problem with those questions being raised and people pointing it out to others. What I do have a problem with is lies such like that I *am* a scammer, which is bs, until I have scammed you cannot say that. If you find the truth gets in the way of your message perhaps you'll realize your message isn't a good one.

I have never been hacked, I'm an advanced programmer and know much about I.T.  So if I do come out saying "I've been hacked" I wouldn't even believe it if it was me personally. Like I don't believe most people that say that to cover up their fraud.

[xzion]

While I wrote this you got another 25.6 SC richer for doing nothing.

How can he be richer if all you guys say his coins are worthless?
what you're saying doesn't make any sense...

as i see it, the coins are worthless while held by the trusted nodes (10 x 1.2m premined). but when they bleed coins to CH's wallet (every even block, 3.2SC) then he's free to spend them on whatever he wants. nice.

[Red]

Question, for CoinHunter. Who runs the trusted peers? Are they all yours?

[johnj]

SC1 had 30000 premined for bounties, currently my personal wallet has ~115000 SC...
The fact that I personally take a cut of all minted coins is not written on the website.

Use terms like CPF if you want.  I fixed your post to reflect reality.

As far as the block chain.  The block chain is backwards looking.  It can't provide any oversight.  It can't prevent you from similar taking the funds and spending them, or laundering them, or claiming "we got hacked" (aka mybitcoin).

You may not like what SC2.0 does to siphon funds from unsuspecting users into my personal wallet file. Either way, it's the most advanced con out there, and will only get better.

Fixed your post again.   The only thing "getting better" is your personal wealth.  At the rate of 6.4 SC siphoned out of the Solid Coin economy every even block.  Things are looking up.  While I wrote this you got another 25.6 SC richer for doing nothing.

I think you mean your version of reality, so let me correct that for you. As of right now I've safely handed out 33000 in bounties personally, I have a history of not scamming people to this point. That said I don't think anything will change your mindset and that's ok. I suppose you'll want to educate as many people as possible about the imminent SC scam threat, you can do that too I guess, just don't try to pass off lies or mistruths as fact and I don't mind.

I think everyone has a right to question whether or not I can safely handle the CPF and also the other "Trust" factors that have been added to SC2.0. I don't have a problem with those questions being raised and people pointing it out to others. What I do have a problem with is lies such like that I *am* a scammer, which is bs, until I have scammed you cannot say that. If you find the truth gets in the way of your message perhaps you'll realize your message isn't a good one.

You're scamming via bait-and-switch. There are more ways to scam than outright theft. The rationale has already been outlined. You've intentionally misled people with your FUD articles - care to defend those, and your previous statements that you purposefully tailored them to mislead?  You've lied about the premine.  You said it was only 1.2 - when in fact it is 1.2 + 12m trickle.  A premine is a premine - regardless of when it becomes 'active'. All of which has personally benefited you.

How many more instances of CH outright lieing and deceiving bitcointalk forum members does he need to give before he gets the label?

[Bobnova]

1000+ hours eh?
You do realize how long that is, right?  That's 41 days of 24 hours a day coding.


Some people put a lot of hours into scams.

[Raoul Duke]

How can he be richer if all you guys say his coins are worthless?
what you're saying doesn't make any sense...

Try to keep up.

The "trusted nodes" have 12 million.  CH says don't worry they can't be "spent". which is technically true.

However each day coins transfer from the trusted nodes to his personal wallet.  They are no different than any other coin on the network and once in his personal wallet can be spent by CH for anytime, anywhere, for anything he chooses.

What does have to do with my remark?
Are you really that blind with anger?
Why?
Every one of these threads is better than the thread before...

Let me ask you something: Are SolidCoins worth anything to you?

[CoinHunter]

Question, for CoinHunter. Who runs the trusted peers? Are they all yours?

I have control of one of the accounts currently, I'm not sure if I will end up with any, just for now it's easier this way. I won't say how many are in the wild yet but we are increasing the presence on the network of them.

The people I'm giving them to are ardent SC supporters, who have families, assets and things to lose if they do anything inappropriate with it, combined with having excellent knowledge about system running.

[xzion]

...who have families, assets and things to lose...

you're going to do WHAT to their families and assets for misbehaving??

[ElectricMucus]

Question, for CoinHunter. Who runs the trusted peers? Are they all yours?

I have control of one of the accounts currently, I'm not sure if I will end up with any, just for now it's easier this way. I won't say how many are in the wild yet but we are increasing the presence on the network of them.

The people I'm giving them to are ardent SC supporters, who have families, assets and things to lose if they do anything inappropriate with it, combined with having excellent knowledge about system running.

fuck you

Do people realize how diabolical this is  

[Red]

I have control of one of the accounts currently, I'm not sure if I will end up with any, just for now it's easier this way. I won't say how many are in the wild yet but we are increasing the presence on the network of them.

The people I'm giving them to are ardent SC supporters, who have families, assets and things to lose if they do anything inappropriate with it, combined with having excellent knowledge about system running.

Good to know. But the only way to build real trust is through non-anonymity.
Anonymous trust is a bit of an oxymoron.

[CoinHunter]

...who have families, assets and things to lose...

you're going to do WHAT to their families and assets for misbehaving??

I believe if others scam or harm others in some way then justice should be served. It's quite simple. What else should happen to fraudsters and scammers?

I'm quite big on punishing those that hurt others, if someone finds it HARD not to hurt others I don't think they should be alive. Just my own life philosophy.

[coblee]

...who have families, assets and things to lose...

you're going to do WHAT to their families and assets for misbehaving??

I believe if others scam or harm others in some way then justice should be served. It's quite simple. What else should happen to fraudsters and scammers?

I'm quite big on punishing those that hurt others, if someone finds it HARD not to hurt others I don't think they should be alive. Just my own life philosophy.

I got to ask. How do you plan to hurt them if they misbehave?

[johnj]

...who have families, assets and things to lose...

you're going to do WHAT to their families and assets for misbehaving??

I believe if others scam or harm others in some way then justice should be served. It's quite simple. What else should happen to fraudsters and scammers?

I'm quite big on punishing those that hurt others, if someone finds it HARD not to hurt others I don't think they should be alive. Just my own life philosophy.

Vague threats on peoples families is not the best way to inspire confidence that you're not a scammer.

[BitterTea]

Found a great quote on the 5 reasons to own SolidCoin page:

"Unlike Bitcoin's startup which ensured nearly all the currency ended up with only a handful of people. These people have since vanished and cashed out, to leave the project to stagnate with little support from early adopters."

SolidCoin solves this problem by putting nearly all the coins in the hands of one person (plus everyone who mined in the first week).

[DeathAndTaxes]

The people I'm giving them to are ardent SC supporters, who have families, assets and things to lose if they do anything inappropriate with it, combined with having excellent knowledge about system running.

Wait why would you need to do that.  I thought the coins CAN'T be spent from trusted nodes.  Or is this more "trust".  Can an owner of trusted node spend or transfer coins from the trusted node?  I am not asking about trust, or should they .... CAN THEY.  Is it technically possible to remove funds from trusted nodes.

Will you share source code that proves this claim?  Will you share any of the source code?

[CoinHunter]

Good to know. But the only way to build real trust is through non-anonymity.
Anonymous trust is a bit of an oxymoron.

Indeed, I agree the initial startup isn't as optimal as if we had million dollar account holders from the get-go, where they can stay anonymous. However there's not like there is much alternative.

If people want a secure network (which I and others believe many do) then some compromises have to be made. If they don't then SC will not do well and something else will pass it.

[Raoul Duke]

Let me ask you something: Are SolidCoins worth anything to you?

https://btc-e.com/sc_usd_exchanger

Anything is worth what the market will pay for it right now.  The market says they are worth $0.001 ea.  Personally I think long term they will be worth absolutely nothing but that is immaterial if you can exchange them for something that won't be worth nothing (USD, BTC, Gold) before that happens.

For the record I never said SC are worthless.  Someone else did and in the specific context that IF THEY CAN'T BE SPENT THEY ARE WORTHLESS.  However the claim of them not being able to be spent is just double talk.  They transfer from trust nodes to CH personal wallet where they can be spent.

And currently they are worth $0.001.  Obviously CH hopes to con enough people to make that number much higher.  I hope he doesn't.  Currency trading is a zero sum game.  If the value goes to 0 then ultimately for every winner (Coin Hunter) then there is a loser (sucker who though SC was "solid" and didn't realize the smoke and mirrors which amount to a continual wealth transfer to CH).

The market also said Bitcoins were worth $30, and $20 and $10, and $0.001 even...

That's all subjective. Why didn't you defend also those folks who bought bitcoins at $30 and lost money?
I suppose that was OK with you... Like they say: A fool and his money are soon parted. Just be happy YOU are not one of those fools. Or maybe you are: JUST ASK THE DUDES FROM SOMETHINGAWFUL!

PS: At first i was completely against the alt currencies in this forums, but OH BOY, they sure are entertaining.

[CoinHunter]

Vague threats on peoples families is not the best way to inspire confidence that you're not a scammer.

CPF fund will be used to hire lawyers and other things to prosecute criminals. Regardless of who they are. If any one of the initial trust holders scam anyone then I've failed in my job to select good characters, so therefore anyone I select I think has an excellent character.

How they would potentially scam people depends. It's not a traditional scam in that they have coins to spend, as they can't spend the trust accounts. But in theory they could prefer some nodes blocks, or give the wallet to hackers who may have a valid millionaire account and together they can disrupt network performance. (Double spends are nearly impossible even with trust accounts due to manual shutdown on large reorgs).

I've tried to limit the effects of the initial trust holders as much as possible because I like most people don't want to see them abused.