[ANN] SilkCoin | New Wallet | NOW on MintPal / Cryptsy | FULL POS

[Jacqul]

Hey Everyone.

This has been interesting but very disappointing.

Reasons for my optimism about Silkcoin:
Advertised as a team of full time developers, this seemed very attractive.
Wallet updates that seemed good and functional.
A future plan that was presented in the white paper.
Trading supported on Poloniex, to the extent of running a promotion with Oculus Rift as prize.
Trading across numerous exchanges, added to Mintpal very rapidly.

Danger signs:
Attention to detail.
Lack of transparency and poor communication.
The massive amount of FUD.
No response to technical questions in the thread.


People who have helped me with constructive feedback on the coin:
FredDag mentioned concern about the coin coding quite early.
BadAss I think also mentioned concern at some point regarding a core update.


Regarding the wallet:
I understand that it is based on an outdated version of BTC and has a problem with confirmations.
This has not been explained fully but fits in with the concerns about the underlying coin coding.
For me it is unexpected since everything seemed to work fine, including going from POS to POW etc.
Regardless of the actual proble, bholzer feels that it would be relatively easy to fix.

Regarding the whitepaper:
I have not heard any technical feedback on the proposed plans yet.
This is still an open question.

What happened according to developer:
Problems with the code and dev team imploded, sorry everyone.

What happened according to others:
Planned scam from the start, dev using smoke and mirrors.



What partially makes it difficult to navigate what is actually going on is the massive amount of FUD that has been present since the start.
Posts from Megaman and gorillajam have consistently called dev a scammer and/or associated with previous scams.
The reasoning has never been convincing enough for me to believe them and their method of delivery has always been in such a way that I am inclined to disbelieve them.

Reasons given have been similarities in graphics between some of Silkcoin and some other projects like Coinmart.
This similarity is indeed there but does not conclusively prove anything although it could suggest someone on the dev team does work with Coinmart.
There is also a "Duffman" reference that is lingering and suggests a link.

Another reason given was the alleged use of a voice actor for both this coin and another scam, hence implying it is done by the same people.
This was not convincing to me personally after listening to both and was disproved by someone (FredDag I think) by correspondence with the actor.
Even if it was the same actor that does not prove it conclusively either.

Further reason was the premine, which is something I have posted about enough so won't repeat myself again.

The problem is that all of these accusations are thrown haphazardly and without clear basis and with a very emotive tone.
This makes them effectively trolling, even if the poster believes it is the truth and even if they are trying to do good by posting it.
Megaman repeatedly urged people to sell coins, also at 7000sats. The problem is for someone to sell, someone else needs to buy.
Which means somebody is going to lose.

I don't believe the motives of the people who "predicted" this scam.
I don't think altruism was the real reason or they would've taken in consideration the people who were also buying at 7000sats, not just the ones selling.
The right way to stop this if they believed it a scam and had proof, was to alert and convince the exchanges.
Poloniex for one is implicit in this process since they listed early and encouraged it by running a promotion.
It is not enough to get people to "sell". You basically need to let people cut their loss and stop trading altogether.
Hence the trading should stop or never begin in the first place.
If they contact the exchanges, fair enough, then either their proof was too weak, or the exchanges are accountable. (Since exchanges are the only people consistently making money from all of this.)

Another possible reason for the trolling, apart from altruism,came to light when the dev (who is now relatively discredited) revealed a PM with Megaman where the latter was requesting 0.5BTC to stop trying to prove it is a scam and derail the thread. This would possibly explain his ongoing involvement as well. As far as we know, the bribe was not paid but the dev has been broken. A victory for Megaman.

A later development was the involvement of bholzer. This person was allegedly invited to the thread by Megaman and initially made the community happy by "talking Megaman down". This did not last very long.

Since Silkcoin has failed bholzer has kindly stepped up and altruistically offered to fix the coin.
Unfortunately the association with Megaman has tainted him in my opinion.


Is it possible that this was a scam all along? Most certainly.
Could it be that the dev meant well but completely overestimated his own and the team capability and team imploded? Possible.
Is it possible that the extortion and hours of trolling on the thread played a role in the dev implosion?
Is it possible that the friend of the nr 1 troll and extortionist is now stepping up to take control and fix the coin because he wants to do good and help the community and crypto all over the world?

If this was a scam (a relatively well thought out and executed scam... although by being more professional I'm sure dev would've made a lot more money), is it possible that we are seeing act nr 2 of an ongoing scam in the "revival" of the coin?



There are a lot of scams in the world of crypto and anyone who has been here for a while and invested around will have been burned.
Yet this is the second time that it feels more like dev talent failed rather than a masterpiece of villainy.
I mean.. if you could create a masterpiece and be rewarded for that, why would you need to con people into believing it has worth. The only reason would be if you are not talented enough to create the masterpiece in the first place.

All of this just makes me realize how lucky we are that someone like Satoshi created Bitcoin.



My lingering questions:
1. What is the actual problem with the wallet?
2. If there is a problem with the wallet can it be fixed easily?
3. Has anyone read the whitepaper and could anyone comment on the technical aspect of what it contains?
4. Was there really 5 techincal devs or just the single guy called Silkcoin? If just one person that would mean this was always meant to be a lie and a scam.
5. What is the personal benefit and opportunity Megaman and bholzer see in this?

[cindereynolds]

Fuck you Shimal I'm going to keep posting your name and address, and it doesn't matter if the IPO was in digital coin, it's still and IPO. Oh and your nimmus IPO was in BTC. And for someone to say that BTC is not your life then why do you dedicate your entire life to scamming people out of it?

You're going down. I'm calling your school, your parents, the FBI, The SEC and your local police. So fuck you. I'm going to ruin your fucking life. Karma is a bitch.

lol this dudes probs some 12 year old who saved up to buy 0.1btc and put it all on SC hoping to become a millionaire. Get a life man, I doubt a kid in school could dev an entire fucking coin, especially one with as many features as SC. And its a free market dude, shit happens, people get scammed every day, the FBI wont give a single fuck about this, nobody will, just deal with it and hope that new devs can sort out the coin.

inb4 I get accused of being Shimal

Suck my dick, I'm turning him in for his illegal ipo's not SC. and if you knew anything you would know that this is his 5th scamcoin now and is probably working on a new one as we speak. Google his name, the kid is a fucking tech wiz running so many scams it will make your head spin. All of this has a lready been proven and discussed in this thread. Now go get fucked.

[bluepixie]

This could be the first coin to come back and make a profit..  Remember when others are fearful be greedy.
new thread   https://bitcointalk.org/index.php?topic=664918.60

[WhiteNotWright]

Not sure why this price is going back up on a dead coin (scam as validated) but I think I will take what I can and cut my loses before it tanks again. I will keep a little on the side to hedge and prop this up the best I can and still think the eco-system is a nice idea (but think others now have that idea as well).

A coin like Whitecoin that have already been trough all this scam stuff have restructured and seem to be at bottom and remain on the exchange offer me some buying opportunities. I would always like to know what other coins folks are going to as well. I am down about 10BTC, but I lost more than that at Mt.Gox, and actually have been scammed by Whitecoin on the release. Thing is, I continue to make profit on the highs because I kinda know where to sell off before a dump or complete scam. So they don't bother me as it's part of the game. One big head game. Anyway, would like to buy some coins in the 100-500 sats range (love the ghettos). PM if you know of anything new scams (lol) or other coins for investment. Thanks!

[WhiteNotWright]

Not sure why this price is going back up on a dead coin (scam as validated) but I think I will take what I can and cut my loses before it tanks again. I will keep a little on the side to hedge and prop this up the best I can and still think the eco-system is a nice idea (but think others now have that idea as well).

A coin like Whitecoin that have already been trough all this scam stuff have restructured and seem to be at bottom and remain on the exchange offer me some buying opportunities. I would always like to know what other coins folks are going to as well. I am down about 10BTC, but I lost more than that at Mt.Gox, and actually have been scammed by Whitecoin on the release. Thing is, I continue to make profit on the highs because I kinda know where to sell off before a dump or complete scam. So they don't bother me as it's part of the game. One big head game. Anyway, would like to buy some coins in the 100-500 sats range (love the ghettos). PM if you know of anything new scams (lol) or other coins for investment. Thanks!

Oh, FYI, I am full of crap. Look at WC and tell me that coin is not toast. My point is, SC will live on --too much money invested. I for one am not going to lose all my coins and cash. I think there are more than a few like me that feel the same way. Anyway, it's all about the money. Good trading!

[madjules007]

Not sure why this price is going back up on a dead coin (scam as validated) but I think I will take what I can and cut my loses before it tanks again. I will keep a little on the side to hedge and prop this up the best I can and still think the eco-system is a nice idea (but think others now have that idea as well).

A coin like Whitecoin that have already been trough all this scam stuff have restructured and seem to be at bottom and remain on the exchange offer me some buying opportunities. I would always like to know what other coins folks are going to as well. I am down about 10BTC, but I lost more than that at Mt.Gox, and actually have been scammed by Whitecoin on the release. Thing is, I continue to make profit on the highs because I kinda know where to sell off before a dump or complete scam. So they don't bother me as it's part of the game. One big head game. Anyway, would like to buy some coins in the 100-500 sats range (love the ghettos). PM if you know of anything new scams (lol) or other coins for investment. Thanks!

I don't get it either really, not this moment. Nothing has actually been done yet, the plans sounds nice if they would go through, but still, the name is tainted and a lot still would have to be done.

[twistelaar]

People, you know that Apple for example was almost bankrupt. People and companies who rock bottom and survive will skyrocket

Just be patience and let the devs come with solution and new plans, look to the price, its up 100%

Lets have faith

[minairia3]

Glad I got out before I got fucked by the camel ... what a mess.  Bring your skills over to Pandacoin.  Solid, steady, professional on Mintpal for ages.  I'm a lowkey long term investor there as a small part of my portfolio.  Someone just brought out thr 90ltc sell wall last night that was holding things back (not me ...)

What I'm posting here is what I've done and experienced with the SilkCoin team over the past month that I've been with them. As some of you may know I started out as an avid supporter of SilkCoin, and I became an even bigger supporter when I was added to the SilkCoin team. I would just like to notify the community of all the things I've done for SilkCoin.


These are all of the things that I've done for SilkCoin

• I was the person who conceptualized mysilkcoin.com
• I organized our whole team to work on a dedicated team management platform
• I spearheaded Operation Shock & Awe
• I designed, scripted and produced the Introductory video for SilkCoin
• I designed all graphical elements in the OP
• I redesigned the whole SilkCoin wallet UI to take it from what it looked originally to how it does now.
• I came up with the SilkReich Parody video series for SilkCoin
• I was the one who proposed the idea for the Oculus Rift Competition, and the I was the one who went about the whole process

That's not all though, I had more for SilkCoin up my sleeve. These pictures below are what would have been the new Trading page and the Eco-System launch page, everything was designed and ready I was just waiting for the developers to implement it :

New Trading Page




In total I must have spent close to 300 solid hours of work trying to take SilkCoin to the top, all to no avail. Why did I do it? I knew that if SilkCoin became one of the top 5 coins, which it had more than enough potential to do, I would never have to work again in my life. I poured everything into this coin, heart, wallet and time, so believe me that if anyone is disappointed it's me.


Whichever way you look at it now, SilkCoin is dead. I have a plan to appease everyone though. I've spoken with a few people and I plan to fork SilkCoin and release it as a new coin with new branding. See the paper here for more details : https://docs.google.com/document/d/1L8VDgnu5J6mUCFrw9WmO_TiloSdyga6BhxyNA1qPRug/edit?usp=sharing

To everyone interested in this new fork, please PM me.

Do a full rebrand and change the ticket to SLK not SC.

[BadAss.Sx]

Glad I got out before I got fucked by the camel ... what a mess.  Bring your skills over to Pandacoin.  Solid, steady, professional on Mintpal for ages.  I'm a lowkey long term investor there as a small part of my portfolio.  Someone just brought out thr 90ltc sell wall last night that was holding things back (not me ...)

Stop talking crap. you were never in this coin and we are never going to put money in that panda thingy

[shoozooo]

https://www.youtube.com/watch?v=G_Z3lmidmrY

[minairia3]

Hate to say but while Silkcoin is basically dead Panda is alive and kicking.  Why shouldn't people take a look?

I find this really ridiculous that now people are using it as an opportunity to spam whatever crappy coin they're pushing now. Nobody wants Pandacoin - it is useless. PoW phase is over. It brings no innovation. Come on.

[Rumhurius]

https://www.youtube.com/watch?v=5fVfGY84R3I

 

[BadAss.Sx]

Hate to say but while Silkcoin is basically dead Panda is alive and kicking.  Why shouldn't people take a look?

I find this really ridiculous that now people are using it as an opportunity to spam whatever crappy coin they're pushing now. Nobody wants Pandacoin - it is useless. PoW phase is over. It brings no innovation. Come on.

Because it is a shit coin. That's why. Stop spamming this topic with your n00bcoin.

[remistevens]

I have completed the outline for my SilkCoin rebuilding proposal; to separate it from the insanity that exists here, I have created a new thread to organize the topic:

https://bitcointalk.org/index.php?topic=664918.0

I love how you put all of this time and effort into creating a new thread and write this long, detailed post and it's not even acknowledged in here  

Literally one person acknowledged it and everything else is just more nonsense. I know you're a kickass developer but I would be worried about this community. You come riding in here on your white horse offering to turn this thing around and it's followed by 5 posts from people talking about beating up the original developer. This thing is like 7 classes beneath you. You know I support you, man, but good luck.

Yea, threads like this get mind numbing, I also wonder how many people are really involved. .. I'm new to Silk and reading through things now. Follow the link folks, definitely some positive movement here.

[Grifftech2k4]

https://bitcointalk.org/index.php?topic=664918.0

[Seldar]

Any idea when the Mintpal's wallet will be enable?

[temrus63]

Any idea when the Mintpal's wallet will be enable?

ALL WANT SELL SILKCOIN ON MINTPAL!!!!!!!!!!!!!!!!!
PRICE FALLS BELOW!!!!


silk is die

[Seldar]

I don't care.
I want to sell my SC even if I get 0.01 BTC

[twistelaar]

well yeah you guys just scream SC is dying. Will laugh when it hits 5k Sat

[dandruff1138]