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paramind22 (OP)
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June 24, 2020, 07:26:35 PM |
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I have some suspicion a coin I'm staking had a team take over it that "cooked it's books" somehow. The wallet keeps stalling and will not sync, and there are others on the thread/channel that say they are able to sync and stake. This has happened a number of times since a person took over the development. The blockchain their new coin creates never works for more than a few weeks but supposedly for a couple people it does. Many chime in on the thread that they are not able to sync.
I know behind the scenes at the code level (or maybe node level) there is a lot of control a developer can have. Is it possible for a corrupt team to make it that only certain people are getting stakes?
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kindbtc
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June 24, 2020, 07:49:50 PM |
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I have some suspicion a coin I'm staking had a team take over it that "cooked it's books" somehow. The wallet keeps stalling and will not sync, and there are others on the thread/channel that say they are able to sync and stake. This has happened a number of times since a person took over the development. The blockchain their new coin creates never works for more than a few weeks but supposedly for a couple people it does. Many chime in on the thread that they are not able to sync.
I know behind the scenes at the code level (or maybe node level) there is a lot of control a developer can have. Is it possible for a corrupt team to make it that only certain people are getting stakes?
Definitely a red flag and in these circumstances the wise thing is to stop staking and get rid of your inventory as soon as possible, just accept the loss and find a better coin to stake or invest in believe me there are dozens of quality coins out there, do not just go after roi consider the genuinity, reputation and quality first always. |
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dothebeats
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Cashback 15%
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June 24, 2020, 08:13:35 PM |
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It's entirely possible to allow certain IP to connect to the nodes and blacklist the rest. At this point, the only thing you can do is observe for a little longer and see how would the dev team address the issue. If they are really into fixing it, you would easily know on how they would respond to queries regarding the issue. Also, observe some of those people who reported that they are able to connect just fine without any hassles. There could be some form of collaboration between some of the stakeholders and the devs, so watch out for those too. If your suspicions are already confirmed, I suggest you dump the coins and look for other ones that has potential to grow.
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meanwords
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June 25, 2020, 04:47:38 AM |
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Pretty shady I'd say. How long has this coin been having this issue? Because if they can't fixed something like this, how can they keep their project running and keep people using it. To be honest, I'd just stay away from that coin since you are already smelling something fishy and developers who can't fix a small problem like this can't manage to do something big in the future anyway.
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tsaroz
Legendary
 Online
Activity: 2940
Merit: 1069
★Bitvest.io★ Play Plinko or Invest!
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June 25, 2020, 05:00:25 AM |
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I don't think the development team would probably make it happen so intentionally. They may have messed up the code and some of those are going some extra steps to make the things work. It would be much better if you stop using such projects that doesn't even no how to make things work out of the box and look for staking or mining coins that are easier and have enough documentation.
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TravelMug
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June 25, 2020, 05:28:47 AM |
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I have some suspicion a coin I'm staking had a team take over it that "cooked it's books" somehow. The wallet keeps stalling and will not sync, and there are others on the thread/channel that say they are able to sync and stake. This has happened a number of times since a person took over the development. The blockchain their new coin creates never works for more than a few weeks but supposedly for a couple people it does. Many chime in on the thread that they are not able to sync.
I know behind the scenes at the code level (or maybe node level) there is a lot of control a developer can have. Is it possible for a corrupt team to make it that only certain people are getting stakes?
Yes, that's a red flag already, it the wallet keeps stalling and not synching. May I know if the wallet is open source or some sort of Github repo? Otherwise, it's another red flag that you need to look at. Because if it is close source then you don't see what's going on behind and obviously the developer will have full control of it. And look at the thread and the discussions, if those few are just newbies saying that it work on their end, then probably that is a paid shill or the team itself. And specially if the thread is a self-mod and keeps deleting post which criticised their wallet, then stay away for good. |
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jessyj48
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Activity: 756
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June 25, 2020, 06:39:28 AM |
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This doesn't sound good, that project can't be trusted , can you please share the name of the project?? It will be better to know such project, your IP have been blacklisted just like the rest of those who aren't able to connect to the Node.
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DDante
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Activity: 434
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June 25, 2020, 08:26:39 AM |
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The scammers are smart, they make the node available for some and they restricted the others, I smell big red flag here, do not trust the project, it's all a well planned scheme
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Rodeo02
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June 25, 2020, 09:00:29 AM |
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They created a new coins and took over the development of old project did I understand it right ? This means you are using a new coins and not the old one you are supporting .it is considered as a new project and every thing they do now is for their own goods, you are only using as a tools to think they are still continue developing it but the truth is It is different project and they are making it to earn money from old supporters.
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Ken_terrance
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Making Smart Money Work
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June 25, 2020, 09:02:31 AM |
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It's entirely possible to allow certain IP to connect to the nodes and blacklist the rest. At this point, the only thing you can do is observe for a little longer and see how would the dev team address the issue. If they are really into fixing it, you would easily know on how they would respond to queries regarding the issue. Also, observe some of those people who reported that they are able to connect just fine without any hassles. There could be some form of collaboration between some of the stakeholders and the devs, so watch out for those too. If your suspicions are already confirmed, I suggest you dump the coins and look for other ones that has potential to grow.
I don't think it's an issue within the blockchain setup, I believe that the team are scammers and they are doing all they can not to get caught and still manage to lure innocent victims, this is already suspicious to me |
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havoc928
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Decentralized Ascending Auctions on Blockchain
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June 25, 2020, 09:28:05 AM |
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I don't think it's an issue within the blockchain setup, I believe that the team are scammers and they are doing all they can not to get caught and still manage to lure innocent victims, this is already suspicious to me
I'll be a little bit skeptical about this. A corrupt team will not continue the job after they got their purposes! However, it's better to observe them before giving out any comments. I suggest you watch their actions when the problems come. If they're really trying to fix the issue, then we can have a little bit of hope. However, honestly, I don't trust any project that I have bad feelings about! |
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RenBct
Member
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Activity: 233
Merit: 10
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June 25, 2020, 06:39:53 PM |
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Can be, And there will always be a coin out there who has the intention to earn the most of it. So if let's say Binance was corrupt this will shake the market and actually maybe be the downfall of it.
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paramind22 (OP)
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June 25, 2020, 06:44:04 PM |
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This is happening to both RAIN and GrowthCoin.
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mersal
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Activity: 1204
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June 25, 2020, 07:44:15 PM |
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There maybe two possibilities here, if some people are saying truth that they can able to sync their wallet means there is some issues in the development side but if it is not then this is going to end in exit scam.Ask those few people to provide the proof of wallet syncing then you can confirm whether they are saying the trust or just shilling made by the team itself.
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DarkDays
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Activity: 2030
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June 25, 2020, 07:47:03 PM |
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Most blockchains can be freely audited and you can often run your own node to check whether everybody is playing fair.
If you share the name of the project, one of us can look into its code to see if there's anything that's purposely blocking you from getting stakes.
Most of the time the odds of discovering a block are random, so there's a chance you might just be getting horribly unlucky. Over time it should average out though.
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electronicash
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Activity: 3080
Merit: 1051
Eloncoin.org - Mars, here we come!
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June 25, 2020, 08:15:20 PM |
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It's entirely possible to allow certain IP to connect to the nodes and blacklist the rest. At this point, the only thing you can do is observe for a little longer and see how would the dev team address the issue. If they are really into fixing it, you would easily know on how they would respond to queries regarding the issue. Also, observe some of those people who reported that they are able to connect just fine without any hassles. There could be some form of collaboration between some of the stakeholders and the devs, so watch out for those too. If your suspicions are already confirmed, I suggest you dump the coins and look for other ones that has potential to grow.
I don't think it's an issue within the blockchain setup, I believe that the team are scammers and they are doing all they can not to get caught and still manage to lure innocent victims, this is already suspicious to me gives us some reason no to get involve to such kind of coins. because its somehow can be controlled by the team whoever they wanted to get rich. its likely going to be scam if they are not responding issues. the only staking i have one in the past is the dividends staking online, its a passive income but would need more before you get something out of it. |
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paramind22 (OP)
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June 25, 2020, 08:53:26 PM |
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It's entirely possible to allow certain IP to connect to the nodes and blacklist the rest. At this point, the only thing you can do is observe for a little longer and see how would the dev team address the issue. If they are really into fixing it, you would easily know on how they would respond to queries regarding the issue. Also, observe some of those people who reported that they are able to connect just fine without any hassles. There could be some form of collaboration between some of the stakeholders and the devs, so watch out for those too. If your suspicions are already confirmed, I suggest you dump the coins and look for other ones that has potential to grow.
I don't think it's an issue within the blockchain setup, I believe that the team are scammers and they are doing all they can not to get caught and still manage to lure innocent victims, this is already suspicious to me gives us some reason no to get involve to such kind of coins. because its somehow can be controlled by the team whoever they wanted to get rich. its likely going to be scam if they are not responding issues. the only staking i have one in the past is the dividends staking online, its a passive income but would need more before you get something out of it. Which coins are you talking about? HODL coin has an excellent high interest paying algorithm that could be looked at as that. |
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hatshepsut93
Legendary
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Activity: 2968
Merit: 2145
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June 25, 2020, 10:32:24 PM |
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If it's a real blockchain, that you can't alter it because it would break the integrity check in the form of hash linking. But what you are describing has nothing to do with it, if the devs control the majority of nodes, or if there's some backdoor in the node code, they could be throttling the syncing of their competitors and get most of the rewards for themselves. At this age if a coin looks even a little shady, it's better to drop it immediately, because even coins with seemingly good reputation end up being scams.
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paramind22 (OP)
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June 26, 2020, 05:50:33 PM |
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Here is the latest from the RAIN discord: as the tip/stake bot operator, I can tell you that syncing the rain wallet was not a particularly fast matter, even with the bootstrap, even on a super fast linux server. Read: days. That said, I can give you a couple of suggestions. - can you take a look at your connections? How many peers do you see? If you see a small number of peers, try getting your addnode list from the bot, such as here https://discord.com/channels/428296617544908800/428300887350575114/725812598645194832- if the blockchain has stalled completely, and you have only a small number of peers, you might have ended up on a fork. Double check your wallet version (is it 1.1.1.5? https://github.com/raipat/rain/releases/tag/v1.1.1.5). Compare blockhashes for the latest block that you see with http://explorer.condensate.io/, if they differ you're on a fork. - if you're on a fork, you might have to resync, but before that, you should clear out your old peers, and that would be best by moving your peers.dat somewhere else, and putting the addnode like I described in your .conf - rerun the wallet, it might continue syncing where it stalled Hope that helps you and anyone else having wallet problems |
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jossiel
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June 27, 2020, 03:36:06 PM |
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How it did after you have received the suggestions? Did you follow the instruction that was given to you by the rain discord developers? As per developers, as said if there's a way to go backdoor with that project, they can easily control and modify things.
Unless, they are open source and things they do whenever they change source codes are on the logs like in github or any place where they show transparency.
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