★☆ GreenCoin ☆★ Cancelled - Please claim refunds

[Drexel]

You two make a cute couple.. When's the wedding?

[Dabs]

Hey guys,

I've been contacted to help with the escrow for this. It will be very simple to understand and to get involved. I am to keep a public list or spreadsheet of all investors, their forum nicks (you may remain anonymous), and the amount of BTC they have invested, and their GreenCoin address.

To keep it simple and transparent, I will use the tried and tested method of accountability which is just one investor BTC address which I control, and a link to that address in the blockchain. Everyone can see all incoming transactions.

For the sake of security of everyone's coins, refunds will only be processed AFTER the coin has launched, at the same time. This will be a "cold" wallet address, that's why.

If the coin fails to launch in a satisfactory manner all BTC will be refunded back to their original addresses, less any bitcoin transaction fees. (Usually 0.0001 per 1000 bytes.)

This is my escrow thread if you want to do some research.
https://bitcointalk.org/index.php?topic=234939

For investors sake, please use a wallet where you control the private keys and can sign a bitcoin message. Search the forums on how to do this. Do not send BTC directly from an exchange or a web wallet.

In case of disputes, I will honor whoever sends a signed message using the bitcoin address that sent the coins. Bitcoin-Qt can do this.

As I understand it, you can wait for the wallet to be launched to get your GreenCoin address from there, or you can generate one using the web page which looks like bitaddress.org.

Any refund, will be sent to the address that originally sent it (or one of the addresses if there is more than one) as reported by blockchain.info UNLESS you can sign a message using that address to send it to another address.

I will charge a flat 1% fee, regardless of the amount of BTC collected by this IPO, deducted at the time I send the funds to the dev, less any refunds.

I will send the BTC to the GreenCoin devs only after the coin has launched, the wallet is working, the investors have received their GreenCoins, and the miners and GreenCoin network has reached at least 48 hours or 576 blocks. I think this is fair, if the coin is 2 days old and everyone got their GreenCoins, then I can release the IPO BTC funds to the devs.

For investors, what you could possibly lose is the time any coins you send until launch. This means your BTC are stuck until at least 2014-03-17.

For the GreenCoin team / developers, you don't get anything until after 2014-03-19 (48 hours or 576 blocks where each block is 5 minutes.)

If Drexel agrees to these terms, then I will post a GPG signed message containing the bitcoin address for IPO. Investors may choose to remain anonymous (identified only by their GreenCoin address), just send the BTC to the address indicated, and send me a PM with transaction details, preferably with a signed bitcoin message.

If you do not know how to sign a bitcoin message, please take the time to learn it.

I am not responsible for any coins sent directly to the GreenCoin team on their web shop. They do offer a 10% bonus.

Thank you and have a nice day!

Dabs

*edit* wrong year, I meant 2014.

[azhago]

If you want an energy efficient coin, change algo to skein/keccak, or even better Qubit or Groestl.

Another scrypt coin is another copy/paste coin. Claiming it's a "green" coin using a power consuming algo is a nonsense

[Drexel]

Sounds good Dabs, let's do it.

If you want an energy efficient coin, change algo to skein/keccak, or even better Qubit or Groestl.

Another scrypt coin is another copy/paste coin. Claiming it's a "green" coin using a power consuming algo is a nonsense

The coin is only scrypt for 2-4 weeks. After that, PoW is not used to secure the network. Scrypt was chosen for the initial distribution because we felt it was the most fair algorithm. With CPU based algorithms one can just buy thousands of cloud compute instances and the cheat the system. Scrypt requires a GPU rig which is a lot more prohibitive.

[azhago]

Do some research, or look at other coins..
SKEIN, QUARK, KECCAK, QUBIT and GROESTL have GPU support. With those algo, power consumption of GPU are 30% less. And a lot colder too. And with this gpu support, of course, cpu mining is worthless.
https://bitcointalk.org/index.php?topic=475795.0

[Drexel]

Do some research, or look at other coins..
SKEIN, QUARK, KECCAK, QUBIT and GROESTL have GPU support. With those algo, power consumption of GPU are 30% less. And a lot colder too. And with this gpu support, of course, cpu mining is worthless.
https://bitcointalk.org/index.php?topic=475795.0

It does not matter. The mining period only lasts 2-4 weeks. Scrypt is the algorithm people are most familiar with. It has the most developed mining applications.

[Drexel]

We're working out the final details with our trusted escrow Dabs and should have the details for that available shortly

[Dabs]

http://pastebin.com/raw.php?i=vdYFjHQL

Code:

-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA512

The escrow address for this contract is:

1DabsmmgiudU56chGBwqdE48PzJRdpExhB

for Mr. Drexel and GreenCoin Investors

Please state and agree to the conditions (if item is received
damaged, item lost with tracking, customs fee etc) beforehand.

If possible, GPG sign your agreement to prevent any
discrepancies later on and please ship with tracking to prevent
problems during delivery. GPG signing is not a requirement, and
any verbal exchange in the form of private messages or posts on
bitcointalk.org, or email is effective as a statement of
condition.

This Contract is solely generated for the purpose of
facilitating the transaction between the seller and the buyer,
which refers to the pseudonyms used on bitcointalk.org.

The escrow holder, Dabs, assumes and gives no liability or
guarantees on the satisfaction of all parties involved, although
he agrees to mediate and facilitate the deal to the fullest
extent he is capable of.  On the event that any problems arises,
he will release the escrow to whichever party that presents him
with the most convincing proof and/or after an open discussion
with others.

The verbal acceptance by both parties (or the failure to reject)
and the sending of Bitcoins to the escrow address above
constitutes the acceptance of the terms and conditions stated,
and the activation of this Contract.

Please understand that I am assuming the risk of holding the
escrowed Bitcoins, and I am using my own time to facilitate this
transaction.

Thank you.

My standard fee is 1% of the BTC amount (minimum of 0.03 BTC)
and this will be deducted from the BTC at the escrow address at
the time of releasing the coins.

Dabs
2014-03-07 (2014 March 07)
-----BEGIN PGP SIGNATURE-----
Version: GnuPG v2.0.22 (MingW32)
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zPSe8GK59fySXZ+Oi9qA
=oFG0
-----END PGP SIGNATURE-----

http://blockchain.info/address/1DabsmmgiudU56chGBwqdE48PzJRdpExhB


Reminders:

1. Please send from a BTC address that you control, or can access the private keys.
2. Please send in increments of 0.05 BTC, up to 3 BTC limit, as per their website.
3. Send me a PM or post here with your transaction details, preferably with a signed bitcoin message using bitcoin-qt or compatible wallet.
4. Don't forget to include a bitcoin transaction fee so your transaction gets confirmed and included in a block.
5. I am only responsible for coins sent to this address.
6. If you change your mind and want a refund, you'll get it next week. Until then, no coins are moving.
7. Please use the generator to create an address.
http://www.getgreencoin.com/generator/

For uniformity, follow this format when sending your IPO details:

1-your-bitcoin-address
Sent 0.05 BTC, ForumNick, GreenCoinAddress (Please use the generator, we don't to chase after investors.)
The-signature-of-the-one-line-message-above.

Example:

1DabsXmraEr18jdEryck8jzcFku873xmRf
Sent 0.05 BTC, Dabs, GreenCoin
H4jigrx3Mjq3SDfNVkkcixpNv68jKDkNVm7/HICeMVS6zlxECZHGU2EoR8eVnYSZD+NdjTBrrtrsRqTikqq6Wso=

Then include the transaction details, either just the ID or a link to blockchain.info.

If you are not yet a member of this forum, send me an email to my address that signed the escrow contract. You'll figure out how to do this if you can verify my signature.

[cryptonewbie]

I definitely think if you are going to offer an IPO that it should be capped to avoid one large investor from gaining total control before the coin is even released.

[Dabs]

Well, let's say there is only one large investor and he IPO'd more than half the coins. That's only 1 billion coins out of the 2 billion that will be IPO'd. 2 billion more will be mined in about 3 to 4 weeks.

[Drexel]

Glad to have you on board Dabs. Hopefully this will silence some of the critics

[SlidingHorn]

Glad to have you on board Dabs. Hopefully this will silence some of the critics

Negative trust removed now that IPO is secured with trusted escrow.

As stated in the entry, this is not necessarily an endorsement that Drexel is "trustworthy", however, the situation warranting the original negative trust rating has been addressed and resolved.

[rickyross]

Sounds good Dabs, let's do it.

If you want an energy efficient coin, change algo to skein/keccak, or even better Qubit or Groestl.

Another scrypt coin is another copy/paste coin. Claiming it's a "green" coin using a power consuming algo is a nonsense

The coin is only scrypt for 2-4 weeks. After that, PoW is not used to secure the network. Scrypt was chosen for the initial distribution because we felt it was the most fair algorithm. With CPU based algorithms one can just buy thousands of cloud compute instances and the cheat the system. Scrypt requires a GPU rig which is a lot more prohibitive.

+1

[DaFockBro]

Glad to have you on board Dabs. Hopefully this will silence some of the critics

Why don't you just take everyone's money then kick them in the nuts?  It would be a lot more pleasant than investing in another rebranded clonecoin

[Dabs]

I edited the post to require investors to generate their GreenCoin addresses using http://www.getgreencoin.com/generator/ so we don't have to chase them at launch time.

All investors must keep a copy of their address and private key, because once the IPO coins are sent there, no one else can get them.

[TheMightyX]

So, again, what is the point of this coin other than to make you rich?
Don't brand your coin as some altruistic world-saver if its not going to do anything.

[Drexel]

We received word earlier today that our lead developer was involved in a serious auto accident. After much consideration we've come to the conclusion that this project can go no further in it's current state. The client is already complete, however, without him we will be unable to support it going into the future. It would be irresponsible to continue on with the release as planned. We are unfortunately left with no choice but to cancel this project.

We will now begin the process of refunding all investors. Thankfully, there have only been 6 investors for a total of 2.05 BTC so the process should not be difficult.

Investor 1: 0.35 BTC
Investor 2: 1 BTC
Investor 3: 0.5 BTC
Investor 4: 0.1 BTC
Investor 5: 0.05 BTC
Investor 6: 0.05 BTC

If you are one of the investors, please reply with how much BTC you have invested, along with your GreenCoin address so we can verify it is you. Please also provide an address that we can refund your BTC to.

We are sorry that it had to come down to this, but believe it is the right thing to do. Thank you to the very few of you who were supportive of us.

Regards,
The GreenCoin Team

[MsCollec]

So sad to hear but why not get a new developer 

[Brotherclay]

Hey there,

I invested 1 BTC to the following greencoin address: GdC8R1chwZLg2BF9mBoWRJwKhUmSdKLEN7

You can send the refund to the following btc address: 173cR7FdnQUKCshmU34iTJ4JFPLmGCfpfa

I truly appreciate it. My best to the dev. Thanks a lot for keeping above board and refunding.

Thanks,
Clay

[portice]

Calling bullshit

But GJ scamming 6 people after numerous warnings, at least you made off with 2 btc