[ANN][AC]AsiaCoin - Relaunch

[toadrw]

How to Kill a Coin

1. Launch Coin
2. Whoops!  3 billion more secret coins.

The problem is also with these f'ing exchanges.  They'll let any piece of shit on if enough people pay for votes.  Have some damn respect for yourselves.

And this is the reason why Asiacoin should be dead.  If you're running an exchange there is no way in hell that you let a coin back on.  What does this say about your standards?

You're not getting on the exchange unless your coin is AT LEAST 6 months old (should be longer probably).  I don't give a shit if your coin is only mined for 2 weeks before PoS.  If you haven't been around a while they we don't want you.
You can get on earlier if you provide some verifiable information (that's the only way you can build up trust).  Maybe they do this already, but all I hear is "how do we find out who this guy is?".  I don't give a shit if this goes against the anonymity of crypto.  Your coin can either be around for a year with consistent development or we know where you live.
You're not getting on the exchange if you are a 100% premine coin unless you've been around for a year or two.
You're getting kicked the fuck out of the exchange for at least 6 months if your market cap is below 250k. We'll put you back on if you're still around and if you go below 250k again get out of our exchange you shit coin.
Add a hundred more requirements and you may have something.

I can't tell you how many of your fucking bozos were on here stating... "perfect launch, perfect coin...".  I don't give a shit if Jesus cracks the fucking sky open and blesses every damn coin in your wallet.  If you don't meet our requirements then get the fuck off my exchange.

If you want to be less stringent in how you put coins on your exchange then you'll be known as a shit exchange just like the pink sheets is a shit exchange for shit companies trying to get back on one of the major exchanges.

Same shit is going to be happening for a long as long as these exchange keep the pay to play voting system.  I'd pay some higher fees if we could get rid of that bullshit and get an exchange with some integrity.

The exchanges should be the clearing house for these coins coming to market.  The voting system keeps the unpopular coins off the market, but it does nothing to get rid of the scam coins.  Scammers are looking for easy payouts and if you make the requirements more difficult you'll be able to weed out the people who are in this for a quick buck.

Maybe these aren't all the answers, but something needs to be done to improve on the integrity of the coins which get on this exchanges.

Disclaimer:  I owned 40k Asiacoin at one point, but only had about 250 when this went down.  It could have been worse for me and I'm sorry for those of you who lost money.

[syrota]

syrota

[tokyoghetto]

CryptoSteam please add me too in the list. Not a big big bagholder but interested in working to save this if there is any chance.

There's a couple of ways to fix this to eliminate the premine, but it would be quite a bit of effort.  At minimum it would require some kind of transaction/block crawler script that would trace the premine and eliminate it from either a brand new blockchain (that is all valid minus the premine transactions), or through some huge If-statement baked into the new wallet code that blocks those "bad" coins.  Basically the equivalent of carefully orchestrated database rebuild...  So it's possible since the old code was archived, and we have the blockchain..

But then after that would require someone to rally all exchanges/multi pools.. create a new website, etc..

It will surely take some time.. and I'm not sure that it would all be worth it at this point due to the reputation damage to the coin.  

with the amount of people involved...it will be worth it. Rising like a phoenix from the ashes will actually generate more interest in the coin, people will be amazed at how communities can rally together in the face of adversity.

The exchanges will not ignore us, the amount of trading volume this coin brings is INSANE. We need to restore confidence. We will adapt and overcome.

[min]

I see only three issues to our problem ...

1) Abandon this coin because the rebuild would require more time and money than the potential gain.

2 ) Check the current block chain , determine which could go all the pieces from this pre mining and blacklist .

3) Creates a new piece ( under the control of several park to ensure it was not a problem this time) , showing the same characteristics as Asia Coin ( same number of final parts , same number of parts Pow, same number of parts Pos same time distributions , etc. ) and suggest that fixed exchange rate 1 : 1. between AsiaCoin and the new part. You can either pre undermine parts and make 1 single large sell order where everyone will go the consumer with buy orders redo phase Pow and minors who are selling their pieces. But set a rate 1: 1 to avoid seeing minors dictate prices , because the goal and re off on a sound basis .

The only problem I see with this option is that the consumer had DEV may sell order with his father mining ... But I think once these last 2 options digging can be a nice thing ...

******************************************************************************************************

Je vois seulement trois issues à notre problème ...

1) Abandonnée la pièce, car la reconstruire demanderait plus de temps et d'argent que de gain potentiel .

2) Check le bloc Chain actuel, déterminer où ont pu aller toutes les pièces issues de ce pré minage et les blacklister.

3) Carrément re crée une nouvelle pièce (sous contrôle de plusieurs garent afin de vérifier qu'il n'a pas de problème cette fois) , reprenant les mêmes caractéristiques qu'Asia Coin ( même nombre de pièces finales, même nombre de pièces en Pow, même nombre de pièces en Pos, même temps de distributions, etc.) et proposer un échange qui fixe à taux 1: 1 entre la AsiaCoin et la nouvelle pièce . On peut soit pre miner les pièces et faire 1 seul gros ordre sell où chacun ira le consumer avec des ordres buy, refaire une phase de Pow et ce sont les mineurs qui vendent leurs pièces . Mais fixer un taux 1: 1 afin d'éviter de voir les mineurs dicter les prix, car le but et de re partir sur une base saine.

Le seul souci que je vois à cette option est que le DEV pourra venait consumer l'ordre sell avec son pre minage ... Mais bon je pense que dès ces 2 dernières options en creusant on peut faire un truc sympa...

Edit : CryptoSteam add me for  to be a bagholders

[ac2]

I have 1.35 million coins.

AC2

[safecoin]

I advise against starting a new coin to compensate those who lost on this coin.. The only way to compensate it is to sustain, but "fix" the current blockchain.. that would allow existing wallet holders to have the same amount of coins in their accounts with their existing wallet.dat files.  

Otherwise.. it's really just another new coin launch...

Yes, the value is in the blockchain created, sans the first block.   From a practical standpoint, I agree its chances of being worth the effort are not great.

From a point of principal, I would really like to see AsiaCoin recovered.  Hopefully some of the anger on here turns to productivity.


Going forward....visit my thread on Mother's day.  I'm launching a whole coin based around Preventing occurences like this.  Has been a lot of work.

You won't need money, or BTC (I won't accept either that early).   You need not bring your botnets or GPU miners...it's single CPU only.

Just mine some coins off your laptop.   Message me with a sad story if you like.  I might be able to offer you some tips.

https://bitcointalk.org/index.php?topic=582598.0

[CryptoSteam]

I'm one of the AsiaCoin bagholders. If the dev does not come back with

version #2, then we will have to come up with solutions to fix this.

I'm going to start adding names to this list who are bagholders that

want this fixed. I'll start with my name.

AsiaCoin Bagholders who wants to see a fix:

CryptoSteam
Nicolaas.R
silencesilence
bluebit25
WildChaser777
istop08
GröBkAz
Maxikosw (Maxikose on freenode irc)
hrt
cjp007
kache
minuchi.str
amit2007gunjan
noobthegreat
EEKman (Lost 3K USD. I feel you. I lost tons myself)
Maestro1
Xuorc
probrian
artem6662
Shkembe
Wolden
probrian
bittcoinn
voisina
jarserk
dirtypolecat
masterboy
nin7672
syrota
AC2 (1.35 million AsiaCoin)


And see what TokyoGhetto said:

You guys don't need the dev to come back. Let him rot in hell. Asiacoin

can still be saved. Create a new blockchain that destroys the hidden

premine and have people exchange their coins to the new blockchain. It

happened with ADT and with Federation Credits.

Get a bounty together and contact the developers.

by looking at the blockchain and the movement of the hidden premine you

can determine where the coins went and how many.

with the amount of people involved...it will be worth it. Rising like a phoenix from the ashes will actually generate more interest in the coin, people will be amazed at how communities can rally together in the face of adversity.

The exchanges will not ignore us, the amount of trading volume this coin brings is INSANE. We need to restore confidence. We will adapt and overcome.

[orpington]

Another goddamn ripoff? Surprise, surprise.

A scam at every corner in altcoin city.

[SolidStateSurvivor]

WhiteCoin, AsiaCoin, YellowCoin, OrangeCoin, SummerCoin, PinkCoin, PurpleCoin, bunch of PandaCoins - all "made in China" and all scams. Is there a single coin made by Chinese and not being a scam?

You forgot the 6,000,000 pre-mined Megacoin (MEC)

[amit2007gunjan]

Another goddamn ripoff? Surprise, surprise.

A scam at every corner in altcoin city.

So if you want to do something about it ,come and join the community. Just merely passing a comment doesn't help at all.

[LovSan]

How to Kill a Coin

1. Launch Coin
2. Whoops!  3 billion more secret coins.

The problem is also with these f'ing exchanges.  They'll let any piece of shit on if enough people pay for votes.  Have some damn respect for yourselves.

And this is the reason why Asiacoin should be dead.  If you're running an exchange there is no way in hell that you let a coin back on.  What does this say about your standards?

You're not getting on the exchange unless your coin is AT LEAST 6 months old (should be longer probably).  I don't give a shit if your coin is only mined for 2 weeks before PoS.  If you haven't been around a while they we don't want you.
You can get on earlier if you provide some verifiable information (that's the only way you can build up trust).  Maybe they do this already, but all I hear is "how do we find out who this guy is?".  I don't give a shit if this goes against the anonymity of crypto.  Your coin can either be around for a year with consistent development or we know where you live.
You're not getting on the exchange if you are a 100% premine coin unless you've been around for a year or two.
You're getting kicked the fuck out of the exchange for at least 6 months if your market cap is below 250k. We'll put you back on if you're still around and if you go below 250k again get out of our exchange you shit coin.
Add a hundred more requirements and you may have something.

I can't tell you how many of your fucking bozos were on here stating... "perfect launch, perfect coin...".  I don't give a shit if Jesus cracks the fucking sky open and blesses every damn coin in your wallet.  If you don't meet our requirements then get the fuck off my exchange.

If you want to be less stringent in how you put coins on your exchange then you'll be known as a shit exchange just like the pink sheets is a shit exchange for shit companies trying to get back on one of the major exchanges.

Same shit is going to be happening for a long as long as these exchange keep the pay to play voting system.  I'd pay some higher fees if we could get rid of that bullshit and get an exchange with some integrity.

The exchanges should be the clearing house for these coins coming to market.  The voting system keeps the unpopular coins off the market, but it does nothing to get rid of the scam coins.  Scammers are looking for easy payouts and if you make the requirements more difficult you'll be able to weed out the people who are in this for a quick buck.

Maybe these aren't all the answers, but something needs to be done to improve on the integrity of the coins which get on this exchanges.

Disclaimer:  I owned 40k Asiacoin at one point, but only had about 250 when this went down.  It could have been worse for me and I'm sorry for those of you who lost money.

Well said, in our days most of coins get on exchanges just to die there, that the only point of their existence.
Few months ago Mintpal trading pairs were neat and clean and look at this mess now.

[CoolGecko]

by looking at the blockchain and the movement of the hidden premine you can determine where the coins went and how many.

Looking at the source code would also be helpful. I have the complete source code since I downloaded it onto my computer in order to compile. It's not the latest version though, because github was never updated to version v1.0.0.1.

[micryon]

Well, not entirely if they copy the blockchain.

Copying the blockchain would still require surgical removal of the premine transactions all the way through the blockchain.  So you have to do that work anyways.  At which point, there's no point in a new coin, unless it's just for a "rebrand".

Anyways I see 2 methods of fixing it:

  1) Allows use existing wallet.dat and db:
    - a) Pick a current block N, freeze things at that block (meaning any transactions after that is technically invalid)
    - b) Walk through blockchain from the beginning and trace the premine transactions all the way to current block N.
    - c) Find all addresses that have coins that originated from original premine transaction.
    - d) Hard code in the wallet file transaction accept code to BLOCK those addresses from allowing to send those transactions, greater than the amount of the bad "premine".
    - e) Compile, Release new wallet.

    - PRO: you don't have to delete your wallet.dat or db
    - CON: going to be some huge IF statements in the code somewhere..

  2) Allows use of existing wallet.dat (but throw away old db):
    - d) Do the same as above, except deviate from step d)
    - e) Derive a new list of addresses and their "real" coin amounts at block N
    - f) Code in the genesis block of a new chain, a distribution of those coins from this list.
    - g) Compile, Release new wallet.

    - PRO: more streamlined blockchain/db
    - CON: you need to force all users to delete their DB but NOT their wallet.dat (may be some confusion here).

[Alpinist]

I am in.
200k AC  

[tim14]

the altcoins community should form a committee to vet all the new altcoins

Good idea, but who will do the heavy lifting? Most of the muppets want to sit back and stuff their faces with chip bags and then soil themselves after passing out from cheap booze.   

[dirtypolecat]

Well, not entirely if they copy the blockchain.

Copying the blockchain would still require surgical removal of the premine transactions all the way through the blockchain.  So you have to do that work anyways.  At which point, there's no point in a new coin, unless it's just for a "rebrand".

Anyways I see 2 methods of fixing it:

  1) Allows use existing wallet.dat and db:
    - a) Pick a current block N, freeze things at that block (meaning any transactions after that is technically invalid)
    - b) Walk through blockchain from the beginning and trace the premine transactions all the way to current block N.
    - c) Find all addresses that have coins that originated from original premine transaction.
    - d) Hard code in the wallet file transaction accept code to BLOCK those addresses from allowing to send those transactions, greater than the amount of the bad "premine".
    - e) Compile, Release new wallet.

    - PRO: you don't have to delete your wallet.dat or db
    - CON: going to be some huge IF statements in the code somewhere..

  2) Allows use of existing wallet.dat (but throw away old db):
    - d) Do the same as above, except deviate from step d)
    - e) Derive a new list of addresses and their "real" coin amounts at block N
    - f) Code in the genesis block of a new chain, a distribution of those coins from this list.
    - g) Compile, Release new wallet.

    - PRO: more streamlined blockchain/db
    - CON: you need to force all users to delete their DB but NOT their wallet.dat (may be some confusion here).

#2 sounds like the cleanest way to restore order.  I'm ready to try anything with my db and DAT files, I mean at this point I have nothing to lose.

[CryptoSteam]

Well, not entirely if they copy the blockchain.

Copying the blockchain would still require surgical removal of the premine transactions all the way through the blockchain.  So you have to do that work anyways.  At which point, there's no point in a new coin, unless it's just for a "rebrand".

Anyways I see 2 methods of fixing it:

  1) Allows use existing wallet.dat and db:
    - a) Pick a current block N, freeze things at that block (meaning any transactions after that is technically invalid)
    - b) Walk through blockchain from the beginning and trace the premine transactions all the way to current block N.
    - c) Find all addresses that have coins that originated from original premine transaction.
    - d) Hard code in the wallet file transaction accept code to BLOCK those addresses from allowing to send those transactions, greater than the amount of the bad "premine".
    - e) Compile, Release new wallet.

    - PRO: you don't have to delete your wallet.dat or db
    - CON: going to be some huge IF statements in the code somewhere..

  2) Allows use of existing wallet.dat (but throw away old db):
    - d) Do the same as above, except deviate from step d)
    - e) Derive a new list of addresses and their "real" coin amounts at block N
    - f) Code in the genesis block of a new chain, a distribution of those coins from this list.
    - g) Compile, Release new wallet.

    - PRO: more streamlined blockchain/db
    - CON: you need to force all users to delete their DB but NOT their wallet.dat (may be some confusion here).

+1. Are you a coder? If so, it would be awesome if you can help fix this. There is a huge community here bagholding.

[CryptoSteam]

I'm one of the AsiaCoin bagholders. If the dev does not come back with

version #2, then we will have to come up with solutions to fix this.

I'm going to start adding names to this list who are bagholders that

want this fixed. I'll start with my name.

AsiaCoin Bagholders who wants to see a fix:

CryptoSteam
Nicolaas.R
silencesilence
bluebit25
WildChaser777
istop08
GröBkAz
Maxikosw (Maxikose on freenode irc)
hrt
cjp007
kache
minuchi.str
amit2007gunjan
noobthegreat
EEKman (Lost 3K USD. I feel you. I lost tons myself)
Maestro1
Xuorc
probrian
artem6662
Shkembe
Wolden
probrian
bittcoinn
voisina
jarserk
dirtypolecat
masterboy
nin7672
syrota
AC2 (1.35 million AsiaCoin)
Alpinist (200K AC)
X-Laboratories

You guys don't need the dev to come back. Let him rot in hell. Asiacoin

can still be saved. Create a new blockchain that destroys the hidden

premine and have people exchange their coins to the new blockchain. It

happened with ADT and with Federation Credits.

Get a bounty together and contact the developers.

by looking at the blockchain and the movement of the hidden premine you

can determine where the coins went and how many.

with the amount of people involved...it will be worth it. Rising like a phoenix from the ashes will actually generate more interest in the coin, people will be amazed at how communities can rally together in the face of adversity.

The exchanges will not ignore us, the amount of trading volume this coin brings is INSANE. We need to restore confidence. We will adapt and overcome.

Copying the blockchain would still require surgical removal of the premine transactions all the way through the blockchain.  So you have to do that work anyways.  At which point, there's no point in a new coin, unless it's just for a "rebrand".

Anyways I see 2 methods of fixing it:

  1) Allows use existing wallet.dat and db:
    - a) Pick a current block N, freeze things at that block (meaning any transactions after that is technically invalid)
    - b) Walk through blockchain from the beginning and trace the premine transactions all the way to current block N.
    - c) Find all addresses that have coins that originated from original premine transaction.
    - d) Hard code in the wallet file transaction accept code to BLOCK those addresses from allowing to send those transactions, greater than the amount of the bad "premine".
    - e) Compile, Release new wallet.

    - PRO: you don't have to delete your wallet.dat or db
    - CON: going to be some huge IF statements in the code somewhere..

  2) Allows use of existing wallet.dat (but throw away old db):
    - d) Do the same as above, except deviate from step d)
    - e) Derive a new list of addresses and their "real" coin amounts at block N
    - f) Code in the genesis block of a new chain, a distribution of those coins from this list.
    - g) Compile, Release new wallet.

    - PRO: more streamlined blockchain/db
    - CON: you need to force all users to delete their DB but NOT their wallet.dat (may be some confusion here).

[micryon]

And another thing.. the clock is ticking on this.. in order to save/preserve blockchain you need to freeze blockchain, that is: agree on a certian block N, after a certain block, all transactions are invalid until the fixed wallet and/or blockchain is rereleased.

Otherwise the premine is still working its way through the network, as we speak.. The network is still live right now.  So the "bad" premine is making its way through to new accounts I'm sure, making it incrementally harder to repair it.

[Xuorc]

I'm one of the AsiaCoin bagholders. If the dev does not come back with

version #2, then we will have to come up with solutions to fix this.

I'm going to start adding names to this list who are bagholders that

want this fixed. I'll start with my name.

AsiaCoin Bagholders who wants to see a fix:

CryptoSteam
Nicolaas.R
silencesilence
bluebit25
WildChaser777
istop08
GröBkAz
Maxikosw (Maxikose on freenode irc)
hrt
cjp007
kache
minuchi.str
amit2007gunjan
noobthegreat
EEKman (Lost 3K USD. I feel you. I lost tons myself)
Maestro1
Xuorc
probrian
artem6662
Shkembe
Wolden
probrian
bittcoinn
voisina
jarserk
dirtypolecat
masterboy
nin7672
syrota
AC2 (1.35 million AsiaCoin)


And see what TokyoGhetto said:

You guys don't need the dev to come back. Let him rot in hell. Asiacoin

can still be saved. Create a new blockchain that destroys the hidden

premine and have people exchange their coins to the new blockchain. It

happened with ADT and with Federation Credits.

Get a bounty together and contact the developers.

by looking at the blockchain and the movement of the hidden premine you

can determine where the coins went and how many.

with the amount of people involved...it will be worth it. Rising like a phoenix from the ashes will actually generate more interest in the coin, people will be amazed at how communities can rally together in the face of adversity.

The exchanges will not ignore us, the amount of trading volume this coin brings is INSANE. We need to restore confidence. We will adapt and overcome.

I am a coder but a) not in this area, my experience is in games and b) I don't have a lot of free time.   However I will try to do what I can with no promises.  I'll look through the code as soon as I can.