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Author Topic: [ANN]BitcoinPlus (XBC) / MANDATORY WALLET UPDATE / BIT-ADOPTION!  (Read 168558 times)
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poornamelessme
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July 04, 2014, 04:52:39 PM
 #1941



If anyone has any suggestions or plans/courses of action, please let me know. Keep in mind the points from above in regards to the man-power we have left, scarce funding, and the account access issue.

I threw out some ideas to  coinerz a couple of days ago, but they probably weren't particularly good ideas. The real problem is funding for Mindfox.

If we pretend you wanted to take over the coin, then you could gather some sort of team. Plenty of coins have small teams. The problem is then paying Mindfox for his past work, and future work. Issues like access to the domain and such would ideally need to be addressed too.

You could go the donation route, but I doubt you'd get very much. You basically need one of those revival teams who take on dead-ish coins. Or a dev willing to either work on this unpaid, or is willing to make a new coin and do a complete swapover with XBC. Due to the negativity from DCM, and I expect now towards XBC, a complete coin swap to a different coin may not be the worst idea.

Again, funding would be the issue. Only ways I see around that are the unlikely scenarios of Serious or Wallenstein sharing some of the DCM ipo funds with XBC or another ipo (and I'm sure after DCM, people wouldn't be overjoyed with that idea). Mindfox makes a new coin, runs his own ipo on polo (they hold all ipo funds until used), and a partial swap of xbc and dcm for the new coin occurs. But I expect Mindfox probably wouldn't be so interested, and people wouldn't be especially interested in an ipo. But that's the only way I see Mindfox being paid for this.

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July 04, 2014, 05:25:15 PM
 #1942

Any large holders of XBC will profit from the pump leading up to mintpal and maybe it would also give the opportunity to raise development funds from the pump.

Plankton - Whales need FOOD https://bitcointalk.org/index.php?topic=673734.0 PVmUwV6AqWLvSnM3Y9KDkRZUHVUpTb4iva
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July 04, 2014, 05:26:33 PM
 #1943

If you guys haven't noticed.

The "devs" of Bitcoinplus abandoned the coin and installed a virus in the Bitcoinplus wallet.

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July 04, 2014, 05:33:08 PM
 #1944

Any large holders of XBC will profit from the pump leading up to mintpal and maybe it would also give the opportunity to raise development funds from the pump.

Reddcoin is catching up...
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July 04, 2014, 05:49:24 PM
 #1945

I am literally in shock here.I cannot believe this team would allow this to happen to their community and investors.Surely there is some logical explanation.Even a complete overhaul and relaunch would be better than allowing this to happen.I am absolutely dumbfounded by what is happening here.I am also a holder of XBC.

you and me both.  I thought we had such momentum going
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July 04, 2014, 05:56:20 PM
 #1946

Yep it doesn't make sense for the devs to abandon now.  Why would they not wait until until MP?  They'd have made more profit that way.

Plankton - Whales need FOOD https://bitcointalk.org/index.php?topic=673734.0 PVmUwV6AqWLvSnM3Y9KDkRZUHVUpTb4iva
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July 04, 2014, 05:58:06 PM
 #1947

I think with a great plan, this coin should be taken over and it will go back up where it was a month ago.
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July 04, 2014, 06:13:29 PM
 #1948

It's sad but appears XBC was a scam at the beggining (dev abandoned with IPO coins if I remember right) and then these kids taken the project and went for vacation.

Any more childish team  wants to pee on that coin?   Lips sealed

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July 04, 2014, 06:21:25 PM
 #1949

Yep it doesn't make sense for the devs to abandon now.  Why would they not wait until until MP?  They'd have made more profit that way.

I really wondered about that part too. It didn't make sense, as even scammers would normally wait until the MP pump, then vanish.

But the timing goes well with DCM. Two devs received 22btc, so they may have figured they'd call it a day and pack it in then. There were also several mini-pumps occurring with XBC previously, when XBC moved into the top 10 list for voting. So there was plenty of time for the devs to unload their coins at a much higher price than it is now. It's not necessarily an optimal way to go about it, but I'm sure they made their money.

Now if they wait a few days, and then make a miraculous return, while scooping up dirt cheap coins, they probably could profit a bit more even. I don't think that will happen, but if I put my evil thinking cap on, that would be one way to go.

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July 04, 2014, 07:16:43 PM
 #1950

From what I gather, only me and coinerz are still around, as well as mindfox (who was a contract-paid wallet dev). Unfortunately, we still cannot get into contact with anyone else. One big issue right now is that neither of us has access to important accounts (social media sites, web domain admin, coin-swap wallet, etc). Coinerz had been working on a new website design and is finished, but without the domain access we cannot even upload these files.

Unfortunately, Seriouscoins controls the xbcplus.com domain and despite a ridiculous number of attempts to contact him, it's been radio silence. This means that I am unable to change the DNS settings to the new server which I control.

To make matters even more complicated, I am unable to access the old site via FTP any more. Sad

Mindfox has been working way beyond the call of duty for several weeks now, maintaining integrity of the blockchain by making frequent transactions to keep the chain alive. Had it not been for his extra work these last few weeks, the network would have already stalled.

Essentially Mindfox took on the job of fixing the XBC wallet and he performed this task admirably. He never expected that two months later, he would be left 'holding the baby'.

Another barrier for development has been funding: payment to contract-devs for working on the blockchain and wallet, since neither me nor coinerz were wallet devs; coinerz handled web and video productions while I was tasked with PR and bringing in new investors (tasks that I've also been working on while in China).

I was speaking with Mindfox a couple of days ago and found out that Seriouscoins only paid him 0.25BTC for all the work he did. I have no idea what happened to the rest of the BTC that Seriouscoins was holding in order to relaunch the wallet, but I personally donated either 0.5 or 0.6 BTC and quite a few more people donated too.

He is understandably pissed off that Seriouscoins and others have disappeared into the ether and unless significant funds can be found, there will be no future development.


Me and coinerz were to release an "official statement" today, but these are just my views as of now. I apologize to everyone who've lost out on their investment and for the team's lack of coordination and communication.

Unfortunately when Jiapetz messaged me on Skype, I was in a meeting (There's a big time difference between us as I'm in the UK). I tried messaging Jia about 30 minutes ago, but we keep missing each other. Hopefully we will be able to touch base in the next few hours (although it's already past 8pm in the UK).

So jiapetz, you are saying everyone except you and coinerz have officially left XBC?  If so, then the top priority would be too get another team assembled to continue where it was left off.

Obviously the domain was paid for.  Anything you can do will help.  Let me know what i can do.  XBC will NOT die this way.

Unfortunately, raising another team is easier said than done and it certainly couldn't be done in the way it was previously where Seriouscoins became team leader by default, despite any evidence of the ability to manage a project on this scale. Other people seemed to come and go as they pleased and it became clear to me very quickly that some of the team were entirely unsuitable or just plain out of their depth.

Out of everyone on the team, only Mindfox and Jiapetz actually walked the walk instead of talking the talk. Personally speaking, I did the following (all unpaid):

  • Created several XBC promo videos
  • Created the XBC forum site
  • Redesigned the XBC subreddit
  • Created the new (unlaunched XBC website)
  • Created a range of XBC merchandise (keyrings, mirrors, bottle openers etc...)
  • Got a major theatre show sponsored by XBC
  • Created lots of XBC graphics

https://docs.google.com/file/d/0B9AVjo3qD9DAU2dfeXZyOW10SzQ/edit?pli=1

File: bitcoinplus-1.6.0-win32-setup.exe
Modified: 25. May
Created: 22. May

"Unfortunately, file is infected with virus. Only the owner can download infected files."

I can assure you that this will be a false positive. The date of the modification corresponds with Mindfox's upload to Github. There is 100% definitely NOT a virus in the XBC wallet.

It's sad but appears XBC was a scam at the beggining (dev abandoned with IPO coins if I remember right) and then these kids taken the project and went for vacation.

The way I see it, there are two different options, one being significantly more viable than the other.

  • We raise significant funds to relaunch XBC for a third time with a brand new dev team with a proper structure and the ability to pay Mindfox for his work. However the downside to this would be the fact that the FUD on XBC is now so great that I can't see it becoming a success.
  • Everyone cuts their losses and sells their holdings in what is essentially now a dead project. The funds could then be moved into a dedicated BTC wallet and we could use this to pay Mindfox to develop a new coin from the XBC codebase. This would give people a small opportunity to recoup money that has been lost. A small and tight team would be created along the same veins as the excellent Vericoin - ie everyone is accountable by using their real names and everyone has defined roles.

Anyway, I'll leave people to ponder the implications of the above two choices. Constructive comments would be appreciated from hereon in - fud/gloating etc... is unproductive at this point and should be ignored.
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July 04, 2014, 07:28:28 PM
 #1951


  • Everyone cuts their losses and sells their holdings in what is essentially now a dead project. The funds could then be moved into a dedicated BTC wallet and we could use this to pay Mindfox to develop a new coin from the XBC codebase. This would give people a small opportunity to recoup money that has been lost. A small and tight team would be created along the same veins as the excellent Vericoin - ie everyone is accountable by using their real names and everyone has defined roles.


That would be the route I'd go with. I suggested a coin swap earlier, and think people may go for that a bit more (DCM people too). Funding for the new coin could be either from existing team's funds from selling XBC (however meager they may be) + if you convinced Polo to run an ipo under their new ICD rules. These rules state that no funds will go to devs unless they are used for what they say they will, and supposedly they will keep strict bookkeeping.

Of course I expect only a tiny portion of people willing to invest in yet another ipo, but even if it does okay-ish, it should be enough to pay Mindfox. Instead of doing the destroyed coin thing, provide a proportional coin swap with existing holders of XBC + DCM. That way they won't take a total loss. At current prices, anyone selling XBC or DCM is getting killed.

A new coin gets around the issue of locked domains/ftp and the negative connotations with DCM/XBC. Of course all that MP voting would have gone to waste, but a dead coin getting listed probably won't do that great anyway.

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July 04, 2014, 07:41:24 PM
 #1952

Are you seriously suggesting some large holder who bought at 10x - 15x this price sell what he has now?THAT IS OUTRAGEOUS!!

Then what is your non-OUTRAGEOUS suggestion?
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July 04, 2014, 07:41:34 PM
 #1953



https://docs.google.com/file/d/0B9AVjo3qD9DAU2dfeXZyOW10SzQ/edit?pli=1

File: bitcoinplus-1.6.0-win32-setup.exe
Modified: 25. May
Created: 22. May

"Unfortunately, file is infected with virus. Only the owner can download infected files."

I can assure you that this will be a false positive. The date of the modification corresponds with Mindfox's upload to Github. There is 100% definitely NOT a virus in the XBC wallet.


Even if it's a false positive google won't allow the dl.

FOOD bitcointalk.org/index.php?topic=673734.0
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July 04, 2014, 07:47:09 PM
 #1954



https://docs.google.com/file/d/0B9AVjo3qD9DAU2dfeXZyOW10SzQ/edit?pli=1

File: bitcoinplus-1.6.0-win32-setup.exe
Modified: 25. May
Created: 22. May

"Unfortunately, file is infected with virus. Only the owner can download infected files."

I can assure you that this will be a false positive. The date of the modification corresponds with Mindfox's upload to Github. There is 100% definitely NOT a virus in the XBC wallet.


Even if it's a false positive google won't allow the dl.

Temporary Wallet Download - Windows https://db.tt/QQFm5QL2
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July 04, 2014, 07:51:46 PM
 #1955

Funding for the new coin could be either from existing team's funds from selling XBC (however meager they may be)

Funding would need to come from a wide range of sources. I sold my XBC about 3 days ago and got around 0.9 BTC for the entire lot. I'd also paid out several hundred pounds for merchandise, software licenses printing etc... that was never recouped.

Of course I expect only a tiny portion of people willing to invest in yet another ipo, but even if it does okay-ish, it should be enough to pay Mindfox. Instead of doing the destroyed coin thing, provide a proportional coin swap with existing holders of XBC + DCM. That way they won't take a total loss. At current prices, anyone selling XBC or DCM is getting killed.

Any new coin would need to be entirely separate from XBC or DCM as both coins carry enough baggage with them for the fudsters to make life difficult from the start. I know it sounds harsh, but when it comes to investing in crypto, it really is a case of 'buyer beware'. People should NEVER invest what they can't afford to lose. Sure being compensated for bad investments would be nice, but the reality of the situation is that this isn't going to happen.

Are you seriously suggesting some large holder who bought at 10x - 15x this price sell what he has now? THAT IS OUTRAGEOUS!!

It's totally outrageous, however to summarize:

  • The dev team have disappeared. There is currently nobody working on the project
  • The wallet developer will not be continuing with the project unless he can be paid for previous AND future work
  • The domain is owned by a missing team leader
  • The old website is inaccessible via FTP
  • There are a huge amount of fudsters who are doing their best to kill what's left of the coin.

You can hold your remaining coins and hope against hope that the above points will be ignored and they will somehow reach previous peaks, or you can get rid of what you have and salvage whatever BTC you can before the coin drops any further. Given that it's likely to be at least another week before XBC hits Mintpal, do you really think that the price isn't going to drop any further in the next nine days? Up to you, but at times like this, clear heads prevail.
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July 04, 2014, 08:01:15 PM
 #1956



Any new coin would need to be entirely separate from XBC or DCM as both coins carry enough baggage with them for the fudsters to make life difficult from the start. I know it sounds harsh, but when it comes to investing in crypto, it really is a case of 'buyer beware'. People should NEVER invest what they can't afford to lose. Sure being compensated for bad investments would be nice, but the reality of the situation is that this isn't going to happen.


It'd need to be an entirely new coin. But if there is no coin swap, why would anyone here even care about it? Nobody would care about a new coin made using the same XBC codebase, if they weren't getting something out of it. So whatever is done, it may not be 100% entirely separate from XBC or DCM, as if it is, why would any XBC/DCM person care? The whole point would be to sort of recover what you can from this whole debacle.

People could either:

Sell their XBC at most likely an enormous loss

Or if a new coin was created with a swap in mind, simply swapover coins (ideally have an exchange handle it), with a new team in place. Funding could be done via the team's meager (I guess super meager) holdings, donations and if an ipo is held.

I'm not saying it's a great idea. Just that it's an idea. Not sure what else to even try or suggest.

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July 04, 2014, 08:39:46 PM
 #1957

Pity that hardworking, trustworthy professionals like Mindfox get screwed over.
Lazy opportunists walk away with his pay.
To think that I even send a contribution to the wallet dev fund...
If at some point there will be a compensation fund for Mindfox I will chip in.

The fact that XBCplus and Serious amended so quickly and easily was an early sign, as well as the launch of LTCplus.
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July 04, 2014, 08:57:14 PM
 #1958

It'd need to be an entirely new coin. But if there is no coin swap, why would anyone here even care about it? Nobody would care about a new coin made using the same XBC codebase, if they weren't getting something out of it. So whatever is done, it may not be 100% entirely separate from XBC or DCM, as if it is, why would any XBC/DCM person care? The whole point would be to sort of recover what you can from this whole debacle.

Neither myself, Jiapetz or Mindfox were involved in DCM and the code that Mindfox created for XBC is open source. Anybody is free to develop their own coin from it. The point I was making is that unless a COMPETENT and NON-ANONYMOUS team is formed with the necessary funds to develop and market a new coin, there's no point even attempting it - hence my suggestion.

To think that I even send a contribution to the wallet dev fund...

Same here - I'd love to know where most of it went.

If at some point there will be a compensation fund for Mindfox I will chip in.

Whilst this is a great idea, I think that a better idea would be to have any fund somehow tied in with the development of a new coin.
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July 04, 2014, 09:18:11 PM
 #1959

This is an XBC plus ANN thread.NOT a new coin thread.Unless XBC coins are being swapped for this suggested new coin then stop posting about said "new coin"

Whilst the bold, red text has indeed made me see the error of my ways, I am simply trying to come up with a realistic and workable solution for the people who have lost money here.

If you can suggest a more viable solution that isn't based on phantom economics, then please let me know Smiley
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July 04, 2014, 09:23:57 PM
 #1960


Neither myself, Jiapetz or Mindfox were involved in DCM and the code that Mindfox created for XBC is open source. Anybody is free to develop their own coin from it. The point I was making is that unless a COMPETENT and NON-ANONYMOUS team is formed with the necessary funds to develop and market a new coin, there's no point even attempting it - hence my suggestion.



Yeah, if you can't gather up a new team, any talk about new coins, swaps, or whatever, is meaningless. But I'm not sure you'd really need a lot of new members really, would you? What did Serious do anyway? If you, Japetz and Mindfox ran your own coin, how many more members would you need? Or is it a situation where nobody remaining wants to be part of a new coin, so you'd need an entirely new team and new coder? I can't say I'd blame anyone for leaving at this point.

And how much is Mindfox owed from his past work, and how much would it require to start a new coin?

If it's a ton, donations or whatever won't really work. If Mindfox wants to take a larger role, the ipo suggestion could in theory work. Again, with a coin swap being part of the deal. People may be willing to donate to Mindfox and/or buy a small amount of ipo coins, if they knew you'd swap their xbc for this new coin. But even then, I wouldn't expect a whole lot.

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