Operation Shitcoin Cleanout and Clean Up Has Begun- Join the Revolution- Re-open

[muddafudda]

Yes. Most people got along and developers all worked together in some sense. Shame now really.

Same evolution has happened in other scenes as well. Online poker for example. At first only few people are in the know, money is coming in easy. Everyone's friendly and helping each other. Then more people join and competition gets tougher and money is not so easy anymore. Atmosphere changes.

its a shame really look what happened to online poker

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[LimLims]

I looked at mining it, but it's clearly not profitable to mine it because it's been mostly premined

I will politely disagree: Darkcoin was pre-announced and fair-launched, and everybody had a chance to mine on day 1. A sizeable chunk of DRK was mined on day 1, but that's not at all the same as a premine, and to claim otherwise is BS sophistry. There is a meaningful distinction between premining and a pre-announced fair launch.

In any case, I'm sure the devs got a fair chunk of the day 1 coins, which I see as a GOOD thing because it means they are financially invested in making the coin succeed.

That aside -- if the day 1 mining rate is the only complaint you have against Darkcoin, then that's not too shabby. No coin is 100% perfect.

Regarding profitability, if you do the math taking into account the differences in X11 hashrate and the ~40% lower power draw, you'll find it's about on par with scrypt profitability, if not better.

[noelmal]

This thread seems more for old school BTC holders who are afraid that all of these idiot coins being released are going to devalue their BTC.

The old school btc holders what the alt section flooded with garbage. More alt coin garbage the more likely none will get near btc. Also everyone sells their alts for btc so makes more people want btc.

Alts don't devalue BTC, if anything while they decrease each others value they make BTC stronger, look at anytime BTC rises, alts crash as everyone runs from their alts to something of greater value.

[DubFX]

Did any coin get cleaned out already? This isn't possible without admins at all and noone of my reports got confirmed and deleted or punished..

[benjyz]

which is why I started altcoins.cc (URL currently here: http://benjyz.github.io/AltCoins/, repo here: https://github.com/benjyz/AltCoins). a whitelist/blacklist should be managed by consensus, not one guy / exchange ( => corruption). this has a lot to do with exchange listings. if somebody just creates a coin, but can't dump it, there is not much point in the scheme.

another problem is the current forum structure is not well suited as a portal. you need some kind of voting or similar mechanisms. otherwise you end up with threads with 60 pages like this one, which no one has the time to read.

I've already put a fair amount of work into altcoins.cc, so somebody can fork the repo and use that.

[rgm108]

Still new to Crypto's but I am in a way thankful to the cleanup team. Learning a lot from these discussions

None of them has stated that they are against altcoins, just the scam one's.

Been following AUR discussions over the past few days. The dev's were warned since launch to use escrow for airdrop which I believe would have provided significant merit to the them and the coin. They chose to ignore the warning and now see what's happening. (Still on the fence on this one. Mined a few via multipool but not holding any)

Using AUR only as an example but I'm sure there are few others that need to be targeted.

-RGM

[Spoetnik]

I am the CryptoProphet and you can call me CryptoDamus.

I was sent to inform the peasants of the dark times coming.
It was for told and it shall be.. prepare yourselves to accept the truth.
You do not have long to repent your sinner ways and see the light.
Soddom and Bitcointalk will feel the wrath soon enough.. you'll all see !

Change your ways by accepting CryptoDamus into your heart and praying for forgiveness.
And for a small donation the CryptoProphet can pray to the crypto pyramid scheme gods,
maybe preventing you from spending eternity eating govt cheese in jail after you have
been made broke and arrested for fraud and are in jail penniless because of your scams.

[shtako]

I looked at mining it, but it's clearly not profitable to mine it because it's been mostly premined

I will politely disagree: Darkcoin was pre-announced and fair-launched, and everybody had a chance to mine on day 1. A sizeable chunk of DRK was mined on day 1, but that's not at all the same as a premine, and to claim otherwise is BS sophistry. There is a meaningful distinction between premining and a pre-announced fair launch.

In any case, I'm sure the devs got a fair chunk of the day 1 coins, which I see as a GOOD thing because it means they are financially invested in making the coin succeed.

That aside -- if the day 1 mining rate is the only complaint you have against Darkcoin, then that's not too shabby. No coin is 100% perfect.

Regarding profitability, if you do the math taking into account the differences in X11 hashrate and the ~40% lower power draw, you'll find it's about on par with scrypt profitability, if not better.

When the coin is designed to yield a huge instamine that is exactly like a premine.

If darkcoin had had constant block size as they are now there would only been 776,525 coins. But the total coins is actually 3,829,439. That mean that of all the existing darkcoins 79,9% is instamined. And after what i have read they are going to reduce max coins to 22 million. That mean that darkcoin in reality got an instamine of 13,8%.

The fact that it is designed that way and that "everyone" could have mined it don't matter. It is designed as a scam, and a get rich quick scheme. Very good branding, but technically flawed. There is no doubt that this is a scam.

[illodin]

There is no doubt that this is a scam.

 


Every coin that I missed the lunch is a scam from now on.

[dewdeded]

The word "scam" lost its meaning anyway. Everything is a scam now.

People get called scammers for charging 1% markup on legitimate services, where they add value and so on. Every new project or website is called scam anyway, no matter who released it or what is on.

[shtako]

There is no doubt that this is a scam.

 

Every coin that I missed the lunch is a scam from now on.

Sorry. The blockchain dont lie. You will find the numbers i quoted there.

[woetohice]

a whitelist/blacklist should be managed by consensus, not one guy / exchange ( => corruption).

You're missing the point.  If it were managed by consensus, how are the extortionists running this "Operation" going to get their money?

This whole thing has NOTHING to do with cleaning up shitcoins.  It's about scamming people out of money.  Scam coin creators like the OP clear out the competition.  Pool operators get sheep to DDOS competitors.  And the extortionists collect their "registration fees."

It's not about cleaning up anything.  It's about criminals working together to expand their enterprise and conning fools into doing most of the work for them.

[eduffield]

Would you kindly whitelist Darkcoin? It's about the furthest thing from a clone-coin. Some of the innovations developed specifically for Darkcoin:

- X11 hashing algorithm
- Darksend anonymous transfers (a decentralised Coinjoin implementation)
- Denomination of funds to improve anonymity in Darksend pooling
- Random decentralised master node selection method
- Blind signing of pooled transactions
- Costs attached to network disruption to make attacks expensive
- DarkGravityWave (DGW) -- modified version of KGW with several exploit fixes
- Limited supply determined by gently tapering reward curve

Whitepaper here: http://www.darkcoin.io/downloads/DarkcoinWhitepaper.pdf

No.  Just, no.  The DarkGravityWave, as it is currently written and implemented, is still vulnerable to a time warp exploit.  The algorithm simply calculates difficulty in a different manner, but it does not contain 'several exploit fixes.' 

I recently update DarkGravityWave and added protections against the timewarp exploit, checkout the commit:

https://github.com/evan82/darkcoin/commit/857e34d28d84a6c7d0910eb800397b5382e520f4

It's also a better algorithm than KGW, as it will react much faster and more accurately to hashrate manipulation. It's funny that I've spent 3 months for 12 hours a day working on the code and you still call it a clone, that's insanity.

[LTEX]

Still new to Crypto's but I am in a way thankful to the cleanup team. Learning a lot from these discussions

None of them has stated that they are against altcoins, just the scam one's.

Been following AUR discussions over the past few days. The dev's were warned since launch to use escrow for airdrop which I believe would have provided significant merit to the them and the coin. They chose to ignore the warning and now see what's happening. (Still on the fence on this one. Mined a few via multipool but not holding any)

Using AUR only as an example but I'm sure there are few others that need to be targeted.

-RGM

The escrow part has been discussed a lot between BCX and me (or actually, addressed by me and ignored categorically by BCX).

Basics behind the AUR DEV not participating in an Escrow solution is the main question: "Who would this be?" None of the members here can be trusted with it since they are all anonymous as well (like Dev). The only logical Escrow would be a well known publicly know figure that has the status and means to lose a lot if things get screwed up. This person, if we can find him, then has to withdraw himself from public, because for sure all the governments, banks and other criminals will go after him and his 1 Bilion cashable coins.

It's so easy to claim it's a fraud because there has been no Escrow, but if you really want that, come up with something that works (sensibly!). So far, BCX hasn't even replied to all my efforts to address this!

I would like indulge BCX and invite him to personally pick up that task. To do so, he does however needs to come foreword publicly. I will pay for his ticket and 5 star hotel if he is willing to come to Reykjavik and publicly identify himself. He can then open up a wallet and Balduro can transfer all pre mined coins there. He then has to stay reachable during the rest of the airdrop and make sure everything goes well. Hell I even pay him 1BTC a day for it!

[iGotSpots]

Still new to Crypto's but I am in a way thankful to the cleanup team. Learning a lot from these discussions

None of them has stated that they are against altcoins, just the scam one's.

Been following AUR discussions over the past few days. The dev's were warned since launch to use escrow for airdrop which I believe would have provided significant merit to the them and the coin. They chose to ignore the warning and now see what's happening. (Still on the fence on this one. Mined a few via multipool but not holding any)

Using AUR only as an example but I'm sure there are few others that need to be targeted.

-RGM

The escrow part has been discussed a lot between BCX and me (or actually, addressed by me and ignored categorically by BCX).

Basics behind the AUR DEV not participating in an Escrow solution is the main question: "Who would this be?" None of the members here can be trusted with it since they are all anonymous as well (like Dev). The only logical Escrow would be a well known publicly know figure that has the status and means to lose a lot if things get screwed up. This person, if we can find him, then has to withdraw himself from public, because for sure all the governments, banks and other criminals will go after him and his 1 Bilion cashable coins.

It's so easy to claim it's a fraud because there has been no Escrow, but if you really want that, come up with something that works (sensibly!). So far, BCX hasn't even replied to all my efforts to address this!

I would like indulge BCX and invite him to personally pick up that task. To do so, he does however needs to come foreword publicly. I will pay for his ticket and 5 star hotel if he is willing to come to Reykjavik and publicly identify himself. He can then open up a wallet and Balduro can transfer all pre mined coins there. He then has to stay reachable during the rest of the airdrop and make sure everything goes well. Hell I even pay him 1BTC a day for it!

Plenty of us are not anonymous

[illodin]

Problem with escrow is that even then people could say that "most of the claims are by devs". Having the airdrop funds in escrow's hands wouldn't change that.

[LTEX]

Still new to Crypto's but I am in a way thankful to the cleanup team. Learning a lot from these discussions

None of them has stated that they are against altcoins, just the scam one's.

Been following AUR discussions over the past few days. The dev's were warned since launch to use escrow for airdrop which I believe would have provided significant merit to the them and the coin. They chose to ignore the warning and now see what's happening. (Still on the fence on this one. Mined a few via multipool but not holding any)

Using AUR only as an example but I'm sure there are few others that need to be targeted.

-RGM

The escrow part has been discussed a lot between BCX and me (or actually, addressed by me and ignored categorically by BCX).

Basics behind the AUR DEV not participating in an Escrow solution is the main question: "Who would this be?" None of the members here can be trusted with it since they are all anonymous as well (like Dev). The only logical Escrow would be a well known publicly know figure that has the status and means to lose a lot if things get screwed up. This person, if we can find him, then has to withdraw himself from public, because for sure all the governments, banks and other criminals will go after him and his 1 Bilion cashable coins.

It's so easy to claim it's a fraud because there has been no Escrow, but if you really want that, come up with something that works (sensibly!). So far, BCX hasn't even replied to all my efforts to address this!

I would like indulge BCX and invite him to personally pick up that task. To do so, he does however needs to come foreword publicly. I will pay for his ticket and 5 star hotel if he is willing to come to Reykjavik and publicly identify himself. He can then open up a wallet and Balduro can transfer all pre mined coins there. He then has to stay reachable during the rest of the airdrop and make sure everything goes well. Hell I even pay him 1BTC a day for it!

Plenty of us are not anonymous

But who of you is willing to take up the burden then? Again, publicly, knowing you would become a sitting duck for "accidents to happen"...

[benjyz]

a whitelist/blacklist should be managed by consensus, not one guy / exchange ( => corruption).

You're missing the point.  If it were managed by consensus, how are the extortionists running this "Operation" going to get their money?

well, buyers of coins have leverage, too. I realize that few really care, but that really reflects on the structure of the forum at the moment. so anyone who comes up with a better model will be able to profit from that. the market will evolve, so that bad elements just get blocked. not that hard to do. so if 1000x bad coins exist, nobody really cares, because in the future everything will done on a neutral platform, and on that platform only reasonable candidates will exist.

[r3wt]

one thing to consider, which of these coins have working testnets? either as a built in option by setting the --testnet flag, or a separate repo branch to get around any technical hurdles of the defacto testnet mode. IMO, if the developer went to the time to atleast implement testnet, it might not be a pump and dump.

[Swordsoffreedom]

one thing to consider, which of these coins have working testnets? either as a built in option by setting the --testnet flag, or a separate repo branch to get around any technical hurdles of the defacto testnet mode. IMO, if the developer went to the time to atleast implement testnet, it might not be a pump and dump.

That's an interesting factor actually not sure how many altcoins do come with built in testnets but if they do might stand a bit more legitimacy as a currency than one without it not universal but as a guideline