[ANN] LitecoinPlus (XLC) / super fast / green / great team!

[djek31]

Playing the devil's advocate for a second and since no one responded to me in the TrollBox.

What was the agreement with the dev for the BTC collected via IPO? Everyone keeps saying the dev "Stole" implying there was some sort of agreement. So what exactly was the agreement?


If memory serves, the Dev did return the 40K or so XBC which amounts to approx $100K USD to be burnt, which in  my book is a very impressive feat.

Please note I never have prolly never will own XBC.

46k was the remaining dev wallet balance for future IPO's. The IPO money in question that he "ran off with" was the BTC collected from sellint the 50k XBC via IPO on Poloniex.

As you may know, an IPO is a way to monetize investors' investments so that the company offering the IPO can use that capital to develop their business. What we see happening here is, XBCplus (the person who created XBC and this XLC) sold his IPO, received the BTC to fund XBC, and instead, decided to take much of that BTC fund and keep it.

Like I said earlier. Was there an agreement made with the dev regarding the IPO fund? I thought it was pretty clear the dev wanted to cash out after he sold the IPO *cough* Dump.

The 46K was returned by the dev much to my surprise since he could have just as easily dumped it on Polo.

Also while IPO is the outside world is typically used to build a new company, from my observations IPO in the Crypto world is simply a way to get coins for cheap without mining it. With the gamble that the once the coin's value goes up, you can cash out at a nice profit. Which is exactly what happened with XBC.

As far as I know there wasn't! he did the ipo and the community decided to burn the rest along with any development funds! that is why he chose people to be on the committee to have 1% or more so that they can afford the development of the coin but it seems that they are not doing that and keep asking for btc from the community to fund everything!

Exactly so IMHO whatever the dev promised he saw through. I know very few people who would return $100K USD to be burnt but the dev did. There was no agreement of what needed to be done with the IPO fund so he did what anyone else would do.

+1

[djek31]

To me it seems like the people on the committee for XBC are the ones being greedy, buy fighting the xlc because they are scared that it will kill their fortune before they get a chance to cash-in!
Litecoin did not kill bitcoin or did it and I never heard about it.

[bbfdsss]

Very well said jiapetz, I think the majority concur

[djek31]

Very well said jiapetz, I think the majority concur

Are you on the committee for XBC?

[Philll90]

Oh come on...litecoinplus.. are you serious?

[jasemoney]

Especially when:

1. No XBC website as of yet!
2. No updated wallet
3. No future plans

1.  http://www.xbcplus.com
2.  XBC new wallet in the works its not easy to write something from scratch when every eye is on you but they're pulling some great devs to work on it. This XLC is a reuse of the crumby old source which caused Poloniex to lose 1400 coins.  Another double spend has not happened since because the community has been hashing away for 0 coin blocks waiting for the new wallet.
3. Android wallet crowdsourcing, additional exchange listings, and a community full of ideas.

[bmergd]

Very well said jiapetz, I think the majority concur

[djek31]

Especially when:

1. No XBC website as of yet!
2. No updated wallet
3. No future plans

1.  http://www.xbcplus.com
2.  XBC new wallet in the works its not easy to write something from scratch when every eye is on you but they're pulling some great devs to work on it. This XLC is a reuse of the crumby old source which caused Poloniex to lose 1400 coins.  Another double spend has not happened since because the community has been hashing away for 0 coin blocks waiting for the new wallet.
3. Android wallet crowdsourcing, additional exchange listings, and a community full of ideas.

Just wanted to know if you can confirm it is a copy of the old wallet he is using for xlc because it looks new to me and even has an unlock button on the front to which the old one doesn't!
And if it is a new wallet then shame on the xbc devs as this guy on his own has rolled out a new wallet made for proof of stake while we the community are still waiting for the xbc one.

[jasemoney]

appologies for the fud, it appears to be a different build. though it does accept POW as the XBC one does

[zmeddy]

I don't think you payed attention to the IPO on Polo cause between I noticed the XBC was being sold and the completion of the IPO passed some days, I would say 3 but not sure. It was also not a typical IPO because it was held at an exchange. The first IPO roughly a month before only yielded 2.5 BTC so XBCplus decided he wanted more and negotiated the IPO on polo. This was never done before to my knowledge, I never bought into an IPO before and he made the easy 50 BTC because it was just a click away for who wanted, no escrow, no emailing involved. If he wouldnt have agreed to the destruction of the remaining coins (which not he but seriouscoins, the new dev of XBC) carried out, the community trust and therefore the value of XBC would have been decimated which would bring an early end to the project. In all probability XBCplus did not yet completely sell his stash of XBC that he bought from himself at the 2nd IPO when demand became stronger. So going along with the community vote was the wisest solution, also for his own pocketbook. This guy is clearly out to make money as most of us are but he made an error in bringing XLC this early and under his own name. He may sell some to the ignorant and innocent but it won't be a second milking cow.

Please someone link me to the post where XBCplus promised the IPO funds will go to the community and not into his pocket. Every IPO I know was for the devs and not for the community.

What he said +1

Please note I am not agreeing or disagreeing with the dev did, just stating facts observed by me. If there was such an agreement then yes by all means the dev is a nutjob but I don't believe there is one.

All I remember was people were super excited about XBC bought all the IPO within a matter of hours, agreed to burn the rest (shocked that it actually happened)  of the 46K XBC, altho there was supposed to be a giveaway (never happened but I could be wrong).

There was never any mention of what was to be done with the IPO funds.


Everyone was sold on the rarity of the coin which IMHO doesn't mean squat but o well some people seem to think it does matter. My comments were shoot tomorrow I should come up with a coin, make it rare, 100% premine it and IPO that sucker.

[TwinWinNerD]

Besides all this hate, I really like the idea of this coin, and I think it can be nearly as big as BitcoinPlus!

POS is already implemented unlike the XBC

[djek31]

Besides all this hate, I really like the idea of this coin, and I think it can be nearly as big as BitcoinPlus!

POS is already implemented unlike the XBC

+1

[qiwoman]

I just want to say I don't hate anyone as I had two loved ones die on me this week and hating is not worthy of our human condition. What I expressed that I didn't like was that the DEV was not open and transparent.
No one ever says the DEVS should not earn from their own coins but we would have preferred it he had not just abandoned the coin to go off one week later and do another coin without even consulting us. If he had stayed with the XBC community and we all worked together, maybe later down the road after securing the success of XBC to then maybe do another coin could have worked beautifully. It's a real shame and I am sad about this because it would have been great if we had our Original DEV devoted to his coin as the rest of us have been. That's all I have to say.. peace.

[zuluweralfa]

Is XLC listing on Poloniex?

[TwinWinNerD]

Sorry, but the truth is that the people who created this monster and monstrosity are the people who gave this joker "IPO" money for XBC.  IPO 99 out of 10 times on alt is scam, plain and simple, mr. xbc dev proved it once, he'll prove it again with anybody stupid enough to give him money this time.

have fun moving your IPO XLC on legit exchanges.  oh wait, there won't be any, sorry.

XBC actually was saved by an excellent DEV, XLC on the other hand will probably die before it even gets started.

XLC already has POS enabled, so it doesn't need a dev to save it

[TwinWinNerD]

Join the XLC IRC channel:    #XLC

[djek31]

Join the XLC IRC channel:    #XLC

lol +1

[jasemoney]

Sorry, but the truth is that the people who created this monster and monstrosity are the people who gave this joker "IPO" money for XBC.  IPO 99 out of 10 times on alt is scam, plain and simple, mr. xbc dev proved it once, he'll prove it again with anybody stupid enough to give him money this time.

have fun moving your IPO XLC on legit exchanges.  oh wait, there won't be any, sorry.

XBC actually was saved by an excellent DEV, XLC on the other hand will probably die before it even gets started.

XLC already has POS enabled, so it doesn't need a dev to save it

Der just because it doesnt have a shiny button to unlock doesnt mean XBC POS is disabled... because ding ding ding! XBC POS is enabled too!!!

[TwinWinNerD]

Sorry, but the truth is that the people who created this monster and monstrosity are the people who gave this joker "IPO" money for XBC.  IPO 99 out of 10 times on alt is scam, plain and simple, mr. xbc dev proved it once, he'll prove it again with anybody stupid enough to give him money this time.

have fun moving your IPO XLC on legit exchanges.  oh wait, there won't be any, sorry.

XBC actually was saved by an excellent DEV, XLC on the other hand will probably die before it even gets started.

XLC already has POS enabled, so it doesn't need a dev to save it

Der just because it doesnt have a shiny button to unlock doesnt mean XBC POS is disabled... because ding ding ding! XBC POS is enabled too!!!

actually no, the POS doesn't work. Thats why XBC needs the new wallet

[TwinWinNerD]

Join the XLC IRC channel:    #XLC