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Author Topic: DARKCOIN (NOW KNOWN AS DASH) BIG SCAM?? let's take a closer look  (Read 13643 times)
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April 06, 2014, 04:59:03 AM
Last edit: December 31, 2016, 12:10:41 PM by cryptohunter
 #1

So after starting a thread looking at the merits of x11 over existing algos and not getting even 1 ....yes not even 1 clearly verified advantage the thread seemed to become infested with dark coin destroyers.



They were seemingly so upset that x11 had no reason to really exist, and all the marketing hype was actually based upon NOTHING, that they started turning on the first coin to use this chained algo and bringing up all kinds of facts i had missed. The most upset was user TAOWAY whom felt the urge to highlight the most disturbing parts of this potential scam coin...



The most distrubing of those were these 2 points. - Full credit goes to user TAOWAY for bringing these points to my attention.


1. Dark coin (called some other name back then) was launched  and the BLOCK EXPLORER shows a HUGE amount of blocks being instamined almost.....well INSTANTLY.

2. Dark coin bolstered their instamine by starting WITHOUT A WINDOWS QT ( THANKS FOR BRINGING THIS TO MY ATTENTION)


also pay particular attention to page 5 on the original thread.... for someone that does not premine....had 5k to give away as if it was nothing quite fast as the person does comment on Smiley


was the retarget every block at the start or was it more instamine scam friendly back then?



Let's discuss these points and examine them to find the truth.

We are only interested in the truth regarding these points, anything not related to the truth about them will be deleted. We must not be sidetracked from the search for the truth.

If you have a factual piece of evidence to back up or dismiss these two points feel free to post it. Opinion not accompanied by some kind of evidence will have to be deleted in the interest of keeping this thread on track.

NOTHING will be deleted if it is related to these two points or regarding darkcoins scam/non scam case as long as you have some evidence to back it up.

A persons agenda means nothing. If you are a lover or a hater feel free to post but have some evidence pertaining to drk coin and only darkcoin. The truth only must be posted.

Posting cryptohunter has an agenda to crash dark coin or boost x coin will be deleted..... even if this is true it does not matter because we can only deal in the truth here. If my agenda is to highlight a scam, then that is my agenda. If your agenda is to defend a coin and present it as not a scam that is fine too, just have some evidence to back it up and present your case in a reasonable manner.


So the truth please regarding the darkcoin instamine with evidence??..... anything else gets deleted since the topic will be derailed.



----------------------------------------------------------------------------------------------------------------------------------------

more detailed look updated

https://bitcointalk.org/index.php?topic=421615.msg4589219#msg4589219
Edufield said (after failed launch) that he will wait the next day to launch DRK (XCoin at that time) it is 11 pm.

https://bitcointalk.org/index.php?topic=421615.msg4591407#msg4591407
Edufield disregard windows wallet and daemon and hurry up his launch, presumably to not have windows miners on board.

https://bitcointalk.org/index.php?topic=421615.msg4592827#msg4592827
Edufield say he added four nodes for the launch at 4 am (5 hours later, despite his promise to wait). The 4 nodes from Edufield are 3 amazons AWS + another unknown (whois IP). Launch started at 3h54 am.

https://bitcointalk.org/index.php?topic=421615.msg4593601#msg4593601
Edufield said the github version was not updated, nobody could compile and only Edufield was able to mine until that time. It is 5.09 am and Edufield instamined alone 1153 block at 500 DRK + 60 block at reward 277 = 593120 DRK for him alone in about 1 hour.

https://bitcointalk.org/index.php?topic=421615.msg4593987#msg4593987
No windows wallet confirmed at 5h47 am, despite a user attempt to make one avaiable, that Edufield dismissed quickly.

https://bitcointalk.org/index.php?topic=421615.msg4594096#msg4594096
Illodin, understand dev has instamined alot of coin.

https://bitcointalk.org/index.php?topic=421615.msg4595573#msg4595573
From this list of nodes, at 8h34 am (4h40 after launch) there were 50 Amazon AWS node and 50 microsoft cloud computing instamining DRK (checked using IP whois service). This is 100/124 nodes using cloud computing to instamine DRK. We are at block 2870 and block reward is 500. From block 1153-1729 block reward is 277. After that it is 500 again hence 2294 block at 500 + 576 at 277 = 1306552 DRK (worth about 13M$ now) were instamined in less than 5 hour by Edufield and coworkers using about 100 cloud mining instances. Edufield himself instamined in not even 5 h from 600K to 1169K DRK ((1306K-600K)*100/124 + 600K) depending how many of the 100 cloud mining instance were its own. All this while having purposefully set the difficult ridiculously low and block reward 100 times what it is now.


SCAM = unfair and dishonest scheme = dash

------------------------------------------------------------------------------------------------------------------

comment from one of the xcoin/darkcoin/dash devs posted on this thread page 4

Quote from: InternetApe on 06-04-2014, 20:48:04

Was there some instamine? "I" wouldnt call it instamine where the developers got all the coins as in a premine, but there was a good amount that was mines in the first 24-48 hours. I my self as one of the developers I mines ~120k DRK. and realized this could be a problem in the futures and gave away around 50k to get people interested.

Yes, there was an issue that the blocks stayed at 500DRK vs going down and that was promptly fixed. So yes there was the ability for people that got in at the launch that was able to get a larger share of the coins, but we felt that this was a better idea then to allow premining, where the devs get ALL the coins. I myself started up 100 amazon ec2 hosts to mine. But there were alot of others that did the same.

Windows wallet? NO there was no windows wallet at the very beginning, but according to our research most of the miners especially at the beginning used linux anyways, Shortly after we found someone to get the windows wallet built, and even paid they to get my computer setup to build the windows wallets, as we are primarily linux based programmers. We also around that time found someone to get the MAC wallet built.

 While I agree things could have been better at the beginning to limit the coins I dont think you can group this coin with the other coins that were OBVIOUSLY were built just to pump and dump and leave. I hope you, and others, can see that this was not designed to be a scam, we just wanted to build something that others have not and keep putting new features into this coin and eventually opensource the code so others can build upon it a well.

 We have a great community following darkcoin and they have helped greatly in getting new features into the coin and point out problems. There are several people following that at the beginning were asking questions and brining up the same issues you have and now are happy with what we have been trying to do and now greatly support the coin. As we hope you and others can too.

 I have tried to address the concerns you you have brought up and I hope this helps, other wise im sure you will just delete this response too..

---------------------------------------------------------------------------------------------------------------------------

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April 06, 2014, 06:40:32 AM
 #2

Don't forget about the GPU miner debacle. The block reward was decreasing as the diff increased but the algo was made with CPU in mind so when the GPU miner appeared diff increased considerably and block reward decreased. That, after everybody was told it's CPU only and no GPU miner was released to the community. They did change the algo but the whole story did look a bit suspicious.

ShareCoin Free and Fair Distribution. Sc8XY5PmHK1NJ2DNvJhS82AQVFwMGimX8w
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April 06, 2014, 06:44:13 AM
 #3

StackCoin was a scam.  This MAY be a instamine, but not scam.

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April 06, 2014, 07:01:07 AM
 #4

1. Dark coin (called some other name back then) was launched  and the BLOCK EXPLORER shows a HUGE amount of blocks being instamined almost.....well INSTANTLY.

for everyone that does not know: it was called xcoin.

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April 06, 2014, 07:49:27 AM
 #5

bump.


i like to find out all the nasty details on every coin : )

looking for C++ coders , web-dev and coin-devs to join karmacoin team. We are trying to expand. we have so many goals. Challenge accepted?  PM me.
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April 06, 2014, 07:51:23 AM
 #6

bitcoin was instamined too stop the butthurt about instamine

bad launch time plus ninja launch is far worse than any instamined coin with ANN
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April 06, 2014, 09:23:15 AM
 #7

The more a coin is controversial, the more peoples speak around, the more you're increasing it popularity.
If you're against this coin just don't create a topic about it, you're making it stronger.
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April 06, 2014, 09:29:56 AM
 #8

bitcoin was instamined too stop the butthurt about instamine

bad launch time plus ninja launch is far worse than any instamined coin with ANN

it did have a 5am GMT launch
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April 06, 2014, 09:31:45 AM
 #9

bitcoin was instamined too stop the butthurt about instamine

bad launch time plus ninja launch is far worse than any instamined coin with ANN


Well instamine is a broad word, he is saying that in darks case it was almost instantly
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April 06, 2014, 09:52:27 AM
 #10

bitcoin was instamined too stop the butthurt about instamine

bad launch time plus ninja launch is far worse than any instamined coin with ANN

it did have a 5am GMT launch

yeah i know, and darkcoin was bad for that not for the instamine

talking about instamine, if there is an ANN instamine can't hurt, because everyone will be there regardless, therefore with instamine or not, there will be the same distribution with just more coin for everyone

bitcoin was instamined too stop the butthurt about instamine

bad launch time plus ninja launch is far worse than any instamined coin with ANN


Well instamine is a broad word, he is saying that in darks case it was almost instantly

it doesn't matter, if the coin had not been launched at such bad time(5 am gmt LOL)
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April 06, 2014, 12:09:17 PM
Last edit: April 06, 2014, 01:07:12 PM by cryptohunter
 #11



blah blah blah some irrelevant nonsense about hiro coin another scam coin magnet is trying to pump and dump on noobs before existing with a big bag of BTC... NOTHING TO DO WITH THE POINTS IN THE OP


Hey Magnet, glad you've shown up.

MaGnet to those that are new is one of the largest promoters of the BIGGEST scam from the last wave that burned many people. Now him and the VERY SAME PERSON who were pals and prime supporters of Pheonixcoin scam have teamed up behind another great scam coin HIROCOIN.  AMPH the poster above is hinting that HIROCOIN is a scam which of course it was being ninja launched at 7am euro time when europe and the US were mostly all sleeping. By the time the board caught on to the launch the block explorer confirms the huge instamine had already taken place.

However rather than learning about becoming involved with scam coins and sticking to clean coins MaGnet and his best pal from Pheonix coin have teamed up again to promote this scam. MaGnet is a big coin whale who is one of the most dangerous people on this board. HOwever after a scam always comes out crying he lost BTC.

The main ringleader of the pheonix coin scam that took everyones money was buddies with MaGnet until he even out scammed MaGnet himself.

The funny part is although this person robbed a lot of people on this board by closing his exchange and keeping the coins MaGnet knows who exactly he is but the main ringleader threatened to reveal a lot of dirty shit on MaGnet that the board would find very interesting so MaGnet decided not to reveal this persons identify for fear that we would all find more dirt on him

Now thanks for entering HIRO scam coin into this discussion but although that is a just as big a scam if not worse that darkcoin this is about darkcoin. You need to keep your discussion to the topic .... However don't feel left out, i can start a Hirccoin scam thread too in a bit if you like Smiley  Again only the truth must be told or you just get deleted.  Anyone complaining about getting deleted then just keep to the topic and tell the truth that you can back up with some evidence. Can't be more simple could it?


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April 06, 2014, 12:12:59 PM
Last edit: April 06, 2014, 01:09:52 PM by cryptohunter
 #12

bad launch time plus ninja launch is far worse than any instamined coin with ANN

+1

We're in this sea of endless clones with massive premines and ninja launches and this guy chooses to attack one of the very few coins that is trying to innovate.

This. I don't care if it was instamined, it brings something new to the table.


LOL what a strange idea?? i don't care if the dev and his pals can take an extreme cut of the coins ?? are you for real ? Let's me serious on this thread a coin pretending to be fair with no premine taking a huge instamine is not okay. If it is okay for dark to release with instamining super powers then all coins should be allowed.... do you want all coins released without a windows QT and the devs hitting the super instamine button?

Instamines especially those that make sure there is little competition from miners by releasing without a windows qt are possibly WORSE than premines of a similar size.  Yes you can instamine a huge % of the coin in a VERY short period of time with no other competition around. It is worse than premine because not only do you take a huge % of the coins which is the same as a premine, you also take all of the easy coins at the start from miners so it is a double whammy for miners.

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April 06, 2014, 12:16:46 PM
 #13

YOU DELETED MY POST!

Yes you need to stay on topic and provide evidence ....

we hate cryptohunter for raising these factual points - he's this, he's that is not helping us get to the truth of the matter.

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April 06, 2014, 12:17:39 PM
 #14

Nazi scum are all the same. They are bullies. I am not afraid of them. I enjoy watching them squirm. Cryptohunter is a joke. This thread is his life. 5000 posts. What a fucking loser! Who has the time to post 5000 times? A person with no friends, and no life. He is just an angry little man. ANYBODY WHO READS MY POST WILL SEE HIS LIES.

He could be a paid agent, a shill, to ride his train here.
By people who have a vital interest in staying with the Scrypt algo.
Or he has a vital interest himself.

I found names like "ASIC MOB", or ASIC MAFIA", but in the meantime I think it's better to stay with neutral terms.
Let's just call them the "SCRYPT LOBBY".

Why would anybody try to build a front against breaking software developments?

There's just the thin argument, that it was instamined.

Well, Bitcoin was instamined a lot.
Who's talking about that?
To who's favor was it?

How about some evidence, instead of rhetorical thread titles and more tabloid propaganda.








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April 06, 2014, 12:21:00 PM
 #15

When you want to talk about truth, you don' make self moderated topics Smiley

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April 06, 2014, 12:21:33 PM
 #16

bitcoin was instamined too stop the butthurt about instamine

bad launch time plus ninja launch is far worse than any instamined coin with ANN

it did have a 5am GMT launch

yeah i know, and darkcoin was bad for that not for the instamine

talking about instamine, if there is an ANN instamine can't hurt, because everyone will be there regardless, therefore with instamine or not, there will be the same distribution with just more coin for everyone

bitcoin was instamined too stop the butthurt about instamine

bad launch time plus ninja launch is far worse than any instamined coin with ANN


Well instamine is a broad word, he is saying that in darks case it was almost instantly

it doesn't matter, if the coin had not been launched at such bad time(5 am gmt LOL)


Oh so the plot thickens now.... it launched at 5am gmt too, and amph a dark supporter admits that's not an idea time for Europe and US. Well i had not mentioned that on this thread regarding darkcoin yet.

Come on amph please be more serious.... you have to realise that launching a coin with ideal instamin params like drk had and confirmed by the block explorer WITH A COMPILED WINDOWS QT is a SCAM. It is equally as bad as having a huge premine. There is really no difference and actually it is worse because the dev gets a HUGE % of the coins, and also takes all the EASY coins away from miners.

A big instamine is worse than a big premine it is a double whammy to the miners


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April 06, 2014, 12:22:54 PM
 #17

THIS GUY IS A LIAR. HE IS TRYING TO COVER HIS TRACKS.

this guy is a total moron please see the x11 thread to see what he is moaning on about .... some moronic time travelling logic see page 10 or something to try and work out what he is talking about.

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April 06, 2014, 12:26:53 PM
 #18

When you want to talk about truth, you don' make self moderated topics Smiley

you couldn't be further from the truth.

If you don't want to have the truth buried under tons of irrelevant junk then you sadly have to do this.

Again as if anyone can show i have deleted something relevent to the topic that had some evidence to back it up then make another thread and quote it.

Theses other posters are simply  not sticking to the rules of the thread are they.  The rules are fair, i have to stick by them so does everyone else.

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April 06, 2014, 12:28:02 PM
 #19

YES... GO TO MY THREAD AND READ IT. PLEASE. THIS GUY IS BAD NEWS!

can someone go to his thread and then explain to me what this moron is trying to say, i have looked at his crazy mumblings but can make no sense of it.

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April 06, 2014, 12:30:23 PM
 #20

bitcoin was instamined too stop the butthurt about instamine

bad launch time plus ninja launch is far worse than any instamined coin with ANN

it did have a 5am GMT launch

yeah i know, and darkcoin was bad for that not for the instamine

talking about instamine, if there is an ANN instamine can't hurt, because everyone will be there regardless, therefore with instamine or not, there will be the same distribution with just more coin for everyone

bitcoin was instamined too stop the butthurt about instamine

bad launch time plus ninja launch is far worse than any instamined coin with ANN


Well instamine is a broad word, he is saying that in darks case it was almost instantly

it doesn't matter, if the coin had not been launched at such bad time(5 am gmt LOL)


Oh so the plot thickens now.... it launched at 5am gmt too, and amph a dark supporter admits that's not an idea time for Europe and US. Well i had not mentioned that on this thread regarding darkcoin yet.

Come on amph please be more serious.... you have to realise that launching a coin with idea instamin params like drk had and confirmed by the block explorer WITH A COMPILED WINDOWS QT is a SCAM. It is equally as bad as having a huge premine. There is really no difference and actually it is worse because the dev gets a HUGE % of the coins, and also takes all the EASY coins away from miners.

A big instamine is worse than a big premine it is a double whammy to the miners



this is because it was combined with a bad launch time, if the launch time was actually fair(like 17 gmt) everyone would have mined it, and if everyone can mine it at launch i really don't see a problem with instamine
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