[ANN] [888] [SCRYPT] OctoCoin ◦ The Power of Eight ◦ Don't Blink

[raleit2014]

I have sent an email to Octocoin (dev), still no response. If any of you can pass a message on to him/her.
I would like to RATE this crypto. I can see there is great potential here.

I will be rating this cyrpto soon
http://cryptoanalytics.trade/

[frameLAlife]

I have contacted the Dev to find out more information on 888, This highly UP trended value.

I will be rating this cyrpto soon
http://cryptoanalytics.trade/

sweet. can't wait to see your eval.

[MEGAman]

In other news I am officially over 1,000,000...

 

[deepcoreotc]

In other news I am officially over 1,000,000...

 

Congrats. Hey Mega, you are a jerky lover, right

[joshycoin]

 That's my happy face! I thought there was a 1/100 chance of that order getting filled and I am VERY happy it did! Thank you to whoever made my day!  

Was it a single person? If so, that's insane considering it's 2% of the coins in circulation. People do crazy things when bitcoin takes a jump. If OctoCoin ends up getting as big as I think it will... I hope shellbunner doesn't become a ruthless dictator  

In other news I am officially over 1,000,000...



...and that's even after I bought some jerky from Jay!

Dang man, I'm just barley pushing 500,000... someday...

[joshycoin]

5 votes away from overtaking spot 11 on MP.

[neleonele]

5 votes away from overtaking spot 11 on MP.

1

[thenotfatguy]

5 votes away from overtaking spot 11 on MP.

1

0 

[OctoCoin]

We have an updated version of the OctoCoin client just about ready for release (simply performing some fine-tuning at this stage). This will be an optional update but will contain a number of enhancements to the core. Also, all binaries will be built with OpenSSL 1.0.1i-dev (which, at this point, is simply OpenSSL 1.0.1h with a minor bugfix implemented).

The Qt clients will also receive a number of minor Qt-only enhancements in addition to the "under the hood" items outlined above. Windows 32-bit and 64-bit Qt clients and the full Mac OS X client will all be released shortly after we update the source on GitHub.

We apologize for being slightly behind schedule - the scope of several of our projects have grown since the initial vision as we continue to raise the bar higher. Once the updated clients are released this week, we will finalize the new and improved Reddit Tipbot and other lingering minor projects that we have promised. It's import to us that even common components of OctoCoin are done uncommonly well and we want to pave the way to the top in style.

Finally, within the following few weeks, we will see the public release of our first OctoHub project and, simultaneously, we will release the public progress-tracker. Going forward, we will provide as much transparency as we deem prudent on upcoming projects.

[shellbunner]

Thanks for the updates!
Looking forward to seeing all your hard work.
Thanks for all you do for us. 

[frameLAlife]

sweeeet action!

[ThePeePs]

Looking forward to see what the other projects are... 

[GWCalvert]

OFF TOPIC: Lots of new coins being released claiming to be anonymous because they have integrated TOR into their wallets. These additions are in the new BTC Core (they are even in the 888 QT code, though not yet activated), yet these so-called developers are claiming they have decoded the secret to an anonymous coin... BTW... anyone who believes that TOR is private and secure needs to do a little research as to what government agencies have already cracked that pinata wide open...

Just sayin'... Don't be duped by claims of breakthroughs on anonymity based on the TOR network and .onion nodes. The BTC developers came up with the code for TOR based transactions, not any of these fly-by-night coin devs who are looking to jump on the Anonymous train to increase the value of their P&D schemes.

On Topic: Thanks for the update, OctoDevs. Looking forward to the coming weeks... as I continue my struggle to mine and purchase more 888 to try and get half as many as Shellbunner. 

[shellbunner]

Quite a few great points Gary!
Almost all these coins are P&D, and don't really offer innovation.
Anonymity is all the rage these days, and people automatically think the price of the coin should go up 10x because someone said the word ANON somewhere in the coins ANN thread.
I made some decent money with other coins so that I could reinvest it into a coin which will rise to the top....Octocoin. 

[GWCalvert]

Seems that the main reason I do any trading these days is so that I will make more BTC to buy more OctoCoin... I really haven't found anything new that interests me enough to hold long term. Plus I still have a stash of "old" coins like MEC lying around, awaiting their revival.

I have bought and mined a few Murraycoin lately. I think there is promise there, especially with the Fusionhash multipool coming online in a few days. Speaking of which, I only have a few more days to buy OctoCoin, before the Fusionhash multipool starts working on the 888 price, too. Must buy more Octos... Soon!

[djslick]

the scope of several of our projects have grown since the initial vision as we continue to raise the bar higher.

I just wanted to share that I read this at 30,000 feet earlier today right after it was posted. i almost did a spit-take with my bloody mary.

off topic, the Tor thing is yes, not that impressive at all, and these clown devs have done little more than flip a switch, at least they figured out how to do that! I do think that there's one anon coin currently out there that could be promising, but i won't even say their name here.

It's all aboot the octo baybee, *eyes 100k sell wall*

[djslick]

re: the mintpal votes being taken away

while i agree that giving a user 24 votes to spend in a 24 hour period would be the best solution, i'm not convinced of any wrongdoing on mintpal's part for their recent auditing of their voting system. all evidence shows that they had all votes logged per user and per IP since the beginning, and have only recently made use of that database in repealing votes from different accounts from the same IP. This move was retroactive going back months. (this is what it seems to be at least, without direct data from mintpal, it's hard to say we'll ever know %100, but all the evidence we have so far suggests this)

while the occurrence of multiple people in an office using the same ip and legitimately voting on separate accounts does happen, it is collateral damage to get rid of people who could be voting on 100 different accounts on the same computer. Aidencoin lost almost 10,000 votes because of this (no way they got that many votes in the last couple of days, this was an ongoing fraud campaign). And while Murraycoin only lost a handful, i do not think that they were voted in the past week or so, they could have been voted months ago, and they were probably not malicious attempts at voter fraud, more likely 2 people in the same house voting on separate accounts.

i don't know the inner workings of the exchange, so really it's all speculation on our part, but the insinuation that they did this just to "force people to use paid votes" is a bit strained. All coins were given the same shakedown, equally ridding duplicate IP votes from the polls. There was no favoritism one way or another, therefore everything else being equal, all the coins should be in the exact same position as they were beforehand, not "requiring" them to start paying for votes. The only way you'd feel pressure is if you just lost half your votes from fraud.

Yes, they are a business, and making money is their prerogative, however they make far more money in 6 hours trading then they do in a month of voting. Voting (from what i've seen) has always been a community tool to gauge interest in a coin so that they can list what rises to the top and THEN make money from it. They (as all exchanges) support every coin they list, as it's pragmatic for them to do so.  

A) It's worth it to keep the playing field level, and seeing coins like the #2 Aidencoin take such a fall shows that there were users who were actively exploiting the voting system as such.

B) we directly benefitted moving from #16 to #12, so if anything we should be over the moon that they took this measure?

or... if you paid for votes in good faith and those votes effectively got removed.  And, yes, I did.  This isn't the first time they did this, a few hundred votes went missing a couple of months ago.  There is no audit, no proof, no warning, no announcement, without any of those things, Mintpal taking BTC for votes and then removing them on some bullshit excuse constitutes fraud.

ok, so that's a pretty big accusation, what evidence do you have to support it? I've never heard of anyone paying for votes then having them disappear. That would be a pretty large scandal if true. Paying for 500 votes out of 5000 total votes, then seeing 500 votes disappear after auditing, well there's no correlation that one has to do with the other. And i've never seen anyone else making this claim.

They did do a similar audit a few months ago when they removed all of the votes that were voted using bots. these are the only 2 audits that i've been aware of, both of them IMO have been a good thing for any honest coin. but again, i could be wrong, please show me otherwise.

I think this is about the timeline that you're referring to, March 2014?
https://support.mintpal.com/index.php?module=announce&sec=view&id=11

No, the event I'm talking about happened later than that. https://bitcointalk.org/index.php?topic=504265.msg6436713#msg6436713

My point is that if I paid for votes and then the number of votes that exist is reduced, where is the evidence to show that some of that reduction didn't include the votes I paid for?  Do we just accept the word of Mintpal that the removal was legitimate? where is the audit trail? where is the independent confirmation that what they've done is legitimate?  Hell the last two times vote reductions have happened there hasn't even been an announcement so we're not even asked to accept their "word".  We are supposed to just put up and shut up.

Yes, we benefited from the last change but does nobody care that they can just do what the fuck they like without consequence or accountability whilst taking BTC for votes?

Yes, I realise crypto is the new Wild West, everything is unregulated and uncontrolled and nobody is forcing anybody to be part of it, etc, etc.  But Mintpal is a UK company not a couple of teenagers in a bedroom office, I am a UK business owner and taxpayer and if there is the slightest hint they are corrupt I will shout it from the rooftops.

Since it's obvious I'm a voice of one on here i'll STFU about it, save to say; 1) I'm done voting on Mintpal since they are forever changing the goal posts and 2) I will certainly NEVER pay for a vote again.

hey don't take any offense from my line of questioning, we're all friends here i'm simply trying to address a serious matter in a serious fashion. i was unaware that the octo votes dropped from 17k to 16.5 to 16.1 for no apparent reason. looks like you have the exact dates it happened too on this thread. I'd suggest bringing it up to mintpal-jay in the IRC channel #mintpal on freenode. Most people are usually quite nice and helpful on IRC when you whisper them. Get him on record, paste the conversation on github. I'd be curious to see what's going on here.

cause it could be something randomly fucked up
could be malicious
or could be nothing and already explained by their several announcements saying they were doing auditing now.

because in my books the tenacity to prove wrongdoing can sometimes prove false positives. if you want to "scream it from the rooftops" if you consider them to have "the slightest hint of corruption" then i applaud your effort, and suggest you follow through with it. I feel that there is still a very large area of reasonable doubt of your accusations in my mind, i would be thrilled to be enlightened by some concrete proof.

[SquidsIn]

re: the mintpal votes being taken away

while i agree that giving a user 24 votes to spend in a 24 hour period would be the best solution, i'm not convinced of any wrongdoing on mintpal's part for their recent auditing of their voting system. all evidence shows that they had all votes logged per user and per IP since the beginning, and have only recently made use of that database in repealing votes from different accounts from the same IP. This move was retroactive going back months. (this is what it seems to be at least, without direct data from mintpal, it's hard to say we'll ever know %100, but all the evidence we have so far suggests this)

while the occurrence of multiple people in an office using the same ip and legitimately voting on separate accounts does happen, it is collateral damage to get rid of people who could be voting on 100 different accounts on the same computer. Aidencoin lost almost 10,000 votes because of this (no way they got that many votes in the last couple of days, this was an ongoing fraud campaign). And while Murraycoin only lost a handful, i do not think that they were voted in the past week or so, they could have been voted months ago, and they were probably not malicious attempts at voter fraud, more likely 2 people in the same house voting on separate accounts.

i don't know the inner workings of the exchange, so really it's all speculation on our part, but the insinuation that they did this just to "force people to use paid votes" is a bit strained. All coins were given the same shakedown, equally ridding duplicate IP votes from the polls. There was no favoritism one way or another, therefore everything else being equal, all the coins should be in the exact same position as they were beforehand, not "requiring" them to start paying for votes. The only way you'd feel pressure is if you just lost half your votes from fraud.

Yes, they are a business, and making money is their prerogative, however they make far more money in 6 hours trading then they do in a month of voting. Voting (from what i've seen) has always been a community tool to gauge interest in a coin so that they can list what rises to the top and THEN make money from it. They (as all exchanges) support every coin they list, as it's pragmatic for them to do so.  

A) It's worth it to keep the playing field level, and seeing coins like the #2 Aidencoin take such a fall shows that there were users who were actively exploiting the voting system as such.

B) we directly benefitted moving from #16 to #12, so if anything we should be over the moon that they took this measure?

or... if you paid for votes in good faith and those votes effectively got removed.  And, yes, I did.  This isn't the first time they did this, a few hundred votes went missing a couple of months ago.  There is no audit, no proof, no warning, no announcement, without any of those things, Mintpal taking BTC for votes and then removing them on some bullshit excuse constitutes fraud.

ok, so that's a pretty big accusation, what evidence do you have to support it? I've never heard of anyone paying for votes then having them disappear. That would be a pretty large scandal if true. Paying for 500 votes out of 5000 total votes, then seeing 500 votes disappear after auditing, well there's no correlation that one has to do with the other. And i've never seen anyone else making this claim.

They did do a similar audit a few months ago when they removed all of the votes that were voted using bots. these are the only 2 audits that i've been aware of, both of them IMO have been a good thing for any honest coin. but again, i could be wrong, please show me otherwise.

I think this is about the timeline that you're referring to, March 2014?
https://support.mintpal.com/index.php?module=announce&sec=view&id=11

No, the event I'm talking about happened later than that. https://bitcointalk.org/index.php?topic=504265.msg6436713#msg6436713

My point is that if I paid for votes and then the number of votes that exist is reduced, where is the evidence to show that some of that reduction didn't include the votes I paid for?  Do we just accept the word of Mintpal that the removal was legitimate? where is the audit trail? where is the independent confirmation that what they've done is legitimate?  Hell the last two times vote reductions have happened there hasn't even been an announcement so we're not even asked to accept their "word".  We are supposed to just put up and shut up.

Yes, we benefited from the last change but does nobody care that they can just do what the fuck they like without consequence or accountability whilst taking BTC for votes?

Yes, I realise crypto is the new Wild West, everything is unregulated and uncontrolled and nobody is forcing anybody to be part of it, etc, etc.  But Mintpal is a UK company not a couple of teenagers in a bedroom office, I am a UK business owner and taxpayer and if there is the slightest hint they are corrupt I will shout it from the rooftops.

Since it's obvious I'm a voice of one on here i'll STFU about it, save to say; 1) I'm done voting on Mintpal since they are forever changing the goal posts and 2) I will certainly NEVER pay for a vote again.

hey don't take any offense from my line of questioning, we're all friends here i'm simply trying to address a serious matter in a serious fashion. i was unaware that the octo votes dropped from 17k to 16.5 to 16.1 for no apparent reason. looks like you have the exact dates it happened too on this thread. I'd suggest bringing it up to mintpal-jay in the IRC channel #mintpal on freenode. Most people are usually quite nice and helpful on IRC when you whisper them. Get him on record, paste the conversation on github. I'd be curious to see what's going on here.

cause it could be something randomly fucked up
could be malicious
or could be nothing and already explained by their several announcements saying they were doing auditing now.

because in my books the tenacity to prove wrongdoing can sometimes prove false positives. if you want to "scream it from the rooftops" if you consider them to have "the slightest hint of corruption" then i applaud your effort, and suggest you follow through with it. I feel that there is still a very large area of reasonable doubt of your accusations in my mind, i would be thrilled to be enlightened by some concrete proof.

LOL, I was really wound-up that nobody seemed that bothered, now I'm merely mildly irked.  I raised a support ticket and got the following response;

"Thanks for the feedback. We have never removed any paid votes from a coin. The votes that were removed from a number of coins recently were bot votes, we run the check for bot activity every few days and on occasion some coins drop back down the listing due to a large number of accounts being used to cheat the vote process."

That doesn't really fit with the description of what happened with Murraycoin for instance and it's totally non-transparent.  And because of the lack of transparency there is zero chance of finding concrete proof.  It would be quite easy for them to remove several thousand votes from the top coin claiming them to be bot votes to "encourage" more BTC votes either from that coin or the others just below it.  Anyway, as you rightly point out, just because they could be doing that doesn't mean they are and I'm too busy running my own business to wage a one man battle against theirs so I did all the rooftop shouting I was going to do yesterday and, like I said, I will never pay for a vote again.

Out of interest though, where are those announcements?, I did check their Twitter feed historically and their announcements page and neither the re-balancing over the weekend nor the earlier one seemed to be referenced, nor the division by 5 for that matter.  Am I missing something?

[joshycoin]

uhhh.... almost spot 11 again... (forces smile)

[SquidsIn]

Lol you guys got crazy much, I only got 25k. Cryptorush screwed me over back in march.

I have about 75K sitting in Cryptorush right now.  You can check your balance on their site right now.  They have been tweeting somewhat recently too, hopefully that means they will be up and running sometime soon.

It sounds like you will never see those 75k, not in the form of 888 anyhow, CryptoRush are going to convert them to BTC/LTC at a rate of their choosing and then tell you what they think they owe you and repay that from profits (which, if anybody has any sense and stays away, they will never make).  This taken from the "Debt Management Statement" on their site;

A new plan, A fresh start
The New CryptoRush Operations Team will be implementing a different plan, a long term commitment to our customers. We believe this step by step plan will restore normal operations in a reasonable timeframe, and will be taking the following steps to achieve that goal as quickly as possible.

1) The old database will be frozen, wallets and balances from every account on the previous platform will be kept in safe storage for later auditing (and thus allow us to determine our exact debt per customer).
2) To avoid the rise of exit coins we will be launching a new, clean exchange with zero balance wallets. Resuming normal operations safely as quickly as possible will ensure any profits earned can be quickly paid towards our debt to you, the customer.
3) Once we have audited all accounts from the previous platform we will convert that into BTC and LTC. This will be our debt to you as a CryptoRush customer and will be visible in your account on the website. After the audit of every crypto currency is completed, available funds will be immediately credited to users. Determining the value of these currencies for debt repayment will be carried out as part of a transparent process.
4) Once our auditing process is complete, we will begin the use of an automated daily payout script. This script will take the owner’s share of CryptoRush profits from generated fees and pay users according to what is owed to them. (see next chapter for detailed explanation)
With the above plan we will be able to regain control of trading, liquid wallets and speed the process to recovery. It’s important to note that since we won’t be converting in CRS, that market will be left alone as is. This also means that CRS payouts will continue to be paid out to our users. Clients that are marked for refunding will receive their funds in the form of BTC and LTC from the pockets of the owners.

Freezing the old situation
We will freeze all balances form the old platform to conduct a full audit for every user to make sure we account for all the debt built up by the previous platform. These debts will be converted into BTC and LTC via a transparent process. This will simplify pay outs to our customers of our debt regarding our debt to them, and allow for easy re-entry to their preferred coins.