[ANN][LIBERTYCOIN][XLB] v1.0.3.0 | X11 | 100% POS | No IPO | No Premine |

[Boomslang]

It is in the hands of the devs to manage the output and direction of Libertycoin, not the community, not fudders, not fanboyz and not rational investors.  The one person who was trying to do this management is no longer involved.

Libertycoin is an open source project and centralization is against crypto's principles. I do not recall Satoshi Nakamoto managing the direction of Bitcoin.  

Let me change your sentence to how I see it:

It is not in the hands of the devs to manage the output and direction of Libertycoin, it's in the hands of the community.

I fully agree it is open source.  We may be a lot safer if it wasn't and the code was not so easily picked up by coinmakers and exploited for their own ends.  I am referring to the host of coins that have failed in the past.  

I am NOT accusing Libertycoin devs of this.  I am analysing their statements and deriving information.

But you misunderstand "centralization".

It refers to the currency itself - specifically Bitcoin if you want to be picky, as they were running for 4 years before anyone else even noticed.

It does not, however, refer to the management of that coin or how any de-centralized currencies are managed - only how the coins are mined and held.  It removes the necessity for a centralized bank issuing FIAT currencies.  The creation of wealth is done by the miners themselves, not a mint controlled by governments or private investors  

Take a look at Bitcoin - is their management imploding?  Do they have shit fights in public?  No.

They are not responsible for the market, nor any of the altcoins that have arisen.

Bitcointalk - BITCOINtalk - was set up and is MODERATED.

The altcoin threads are NOT moderated and BCT are not responsible for the output.  

If any coin - ANY COIN - is substantially pre-mined or targetted by gigahash individuals or groups, the de-centralization is destroyed completely because the devs and high-order hashers become, in effect PRIVATE INVESTORS in control of the minting and supply of the coin.

Let me be clear - I am NOT accusing the devs of pre-mining or being in control of high-end hash power.  Others have made these accusations elsewhere, but I have not been one of them.  I have no idea who owns what coins or where they are.

But the fact still exists in cryptos.

Release a coin, pre-mine a few %, point pool miners at them and hammer away until the supply is eaten up.

Get that coin onto an exchange, pump it up, dump the initial pre-mine, tell users there were problems with the pools, have users screaming in the forums for their coins meanwhile collect and dump the poolmined coins and exit.

A few mining pools have been guilty of this, often for many different coins.

If you see a new coin listed and there are a flood of posts from pool operators, you may want to wonder why.

The pool I mined with gave me 100% of my mined coins.

The problems are widespread and systematic.  The exploitation is highly visible if you open your eyes and educate yourself.

And what happens to the household miner who bought a rig hoping to make a few quid who is forced to pool because of the gigahash output and is forced to become a currency trader just to pay for the running costs?

Liberty, it seems, is not for all, but for those with the biggest hammer.

[mistersushi]

It is in the hands of the devs to manage the output and direction of Libertycoin, not the community, not fudders, not fanboyz and not rational investors.  The one person who was trying to do this management is no longer involved.

Libertycoin is an open source project and centralization is against crypto's principles. I do not recall Satoshi Nakamoto managing the direction of Bitcoin.  

Let me change your sentence to how I see it:

It is not in the hands of the devs to manage the output and direction of Libertycoin, it's in the hands of the community.

I fully agree it is open source.  We may be a lot safer if it wasn't and the code was not so easily picked up by coinmakers and exploited for their own ends.  I am referring to the host of coins that have failed in the past.  

I am NOT accusing Libertycoin devs of this.  I am analysing their statements and deriving information.

But you misunderstand "centralization".

It refers to the currency itself - specifically Bitcoin if you want to be picky, as they were running for 4 years before anyone else even noticed.

It does not, however, refer to the management of that coin or how any de-centralized currencies are managed - only how the coins are mined and held.  It removes the necessity for a centralized bank issuing FIAT currencies.  The creation of wealth is done by the miners themselves, not a mint controlled by governments or private investors  

Take a look at Bitcoin - is their management imploding?  Do they have shit fights in public?  No.

They are not responsible for the market, nor any of the altcoins that have arisen.

Bitcointalk - BITCOINtalk - was set up and is MODERATED.

The altcoin threads are NOT moderated and BCT are not responsible for the output.  

If any coin - ANY COIN - is substantially pre-mined or targetted by gigahash individuals or groups, the de-centralization is destroyed completely because the devs and high-order hashers become, in effect PRIVATE INVESTORS in control of the minting and supply of the coin.

Let me be clear - I am NOT accusing the devs of pre-mining or being in control of high-end hash power.  Others have made these accusations elsewhere, but I have not been one of them.  I have no idea who owns what coins or where they are.

But the fact still exists in cryptos.

Release a coin, pre-mine a few %, point pool miners at them and hammer away until the supply is eaten up.

Get that coin onto an exchange, pump it up, dump the initial pre-mine, tell users there were problems with the pools, have users screaming in the forums for their coins meanwhile collect and dump the poolmined coins and exit.

A few mining pools have been guilty of this, often for many different coins.

If you see a new coin listed and there are a flood of posts from pool operators, you may want to wonder why.

The pool I mined with gave me 100% of my mined coins.

The problems are widespread and systematic.  The exploitation is highly visible if you open your eyes and educate yourself.

And what happens to the household miner who bought a rig hoping to make a few quid who is forced to pool because of the gigahash output and is forced to become a currency trader just to pay for the running costs?

Liberty, it seems, is not for all, but for those with the biggest hammer.

You almost seem to have a point here.  Are you really criticizing LibertyCoin for the state of the alt-currency world?  Are you criticizing them because those with the most hash/ wealth can get the most coin?  What remedy would you suggest?  Communism? The greatest tragedy of the 20th century?  Regarding your poor daytrader comment, are you trying to justify your FUD?

[voisina]

Sell your coins cheap. Boomslang will buy them up. Unless the price isn't low enough for him yet. If he keeps talking you'll know he wants a lower price.

[voisina]

Boomslang, you said the dream of liberty has been used to take advantage of people.
That reminds me of you saying you're here to protect people while spreading your negativity in an attempt to lower the value of a market, lessening people's wealth.
Boomslang keeps saying to educate yourself. If you are persuaded by him then he is right, you are uneducated.

[hashpuppy]

These fudster are really very good.  They accumulate coins at low price create a gimmick/twitter to support the coin.  When the coins goes up they dump them.  Then create FUD again to buy low.  Then rinse and repeat.  They accumulate BTC in the process and expand their XLB holdings.  Very clever really.  This happens in every coin i get to know that interest them.
 

[Boomslang]

You almost seem to have a point here.  Are you really criticizing LibertyCoin for the state of the alt-currency world?  Are you criticizing them because those with the most hash/ wealth can get the most coin?  What remedy would you suggest?  Communism? The greatest tragedy of the 20th century?  Regarding your poor daytrader comment, are you trying to justify your FUD?

I am not criticizing Libertycoin for the state of the alt-currency world.

It is simply one that I wanted to do really well and wanted to be involved with actively.

Because of what happened, I have spent some time assessing the state of cryptos - their birth, growth, evolution and current state.

I am pointing out that cryptos in general are ripe for exploitation and that the core of it is embedded in the original whitepaper by Satoshi.  

https://bitcoin.org/bitcoin.pdf


Section 6.

"The incentive may help encourage nodes to stay honest. If a greedy attacker is able to
assemble more CPU power than all the honest nodes, he would have to choose between using it
to defraud people by stealing back his payments, or using it to generate new coins. He ought to
find it more profitable to play by the rules, such rules that favour him with more new coins than
everyone else combined, than to undermine the system and the validity of his own wealth."

This is why mining exists, why the solo miner started to mine in the first place, why they are at the receiving end of exploitation, why pool mining exists and why ASICs were created.

The extract from the whitepaper is often used to explain 51% attacks.

The implications are deeper than that and I will not explain any further.

But look again - what is Satoshi trying to achieve?  He is saying that it should pay more to be honest than to be a thief.

He also says "playing by the rules".  

Those rules no longer exist with ASICs and high-end hashers, because they were written at a time when hashing was done on CPUs.

One person, One vote no longer applies today.

[Boomslang]

These fudster are really very good.  They accumulate coins at low price create a gimmick/twitter to support the coin.  When the coins goes up they dump them.  Then create FUD again to buy low.  Then rinse and repeat.  They accumulate BTC in the process and expand their XLB holdings.  Very clever really.  This happens in every coin i get to know that interest them.
 

People come into the forums and only read the last page or two.

They don't read Post #6376

[bitbd83]

Why we appreciate this types of FUD discussion in this forum. This forum should be moderated like UTC forum.
When liberty is rising, this fucking types of FUDER is arriving here and posting theoretical (maniac) posting. This may ruined NOOBS sentiment.  
 I think a new coin rising base its noobs holder despite of all good features & marketing.

KICK DIRECTLY TO ALL FUDER'S & SCAMMERS ASS.

[voisina]

These fudster are really very good.  They accumulate coins at low price create a gimmick/twitter to support the coin.  When the coins goes up they dump them.  Then create FUD again to buy low.  Then rinse and repeat.  They accumulate BTC in the process and expand their XLB holdings.  Very clever really.  This happens in every coin i get to know that interest them.
 

I don't think they're really very clever at all. People with a character like that have lives full of deceit, depression, and insecurities. They are losers. Short term gain followed by long term pain. Any wise person would agree. Anyone believing in liberty would surely agree.

[Boomslang]

These fudster are really very good.  They accumulate coins at low price create a gimmick/twitter to support the coin.  When the coins goes up they dump them.  Then create FUD again to buy low.  Then rinse and repeat.  They accumulate BTC in the process and expand their XLB holdings.  Very clever really.  This happens in every coin i get to know that interest them.
 

I don't think they're really very clever at all. People with a character like that have lives full of deceit, depression, and insecurities. They are losers. Short term gain followed by long term pain. Any wise person would agree. Anyone believing in liberty would surely agree.

The bitcoin protocol was instigated on a basis of trust and honesty - thieves, at least in theory, should not be able to profit as it is implied that honesty is more profitable than dishonesty and theft.

The history of cryptos is rife with many, many scam stories and very, very few tales of honesty.

 

[greyskies]

IE (Boomslang and many others different accounts)

I can confirm that Boomslang is not Christopher Bouzy even though I initially thought he was one of the nigerian scamsters' shill account.

The quote is from May 28, 2014, 05:38:08 PM, not 1974!  Post #5812 in this forum.

Yawn ... IconicAmateur has already confirmed I am NOT IE.

IE has been banned from posting on the forums, I believe. 

[mistersushi]

These fudster are really very good.  They accumulate coins at low price create a gimmick/twitter to support the coin.  When the coins goes up they dump them.  Then create FUD again to buy low.  Then rinse and repeat.  They accumulate BTC in the process and expand their XLB holdings.  Very clever really.  This happens in every coin i get to know that interest them.
 

I don't think they're really very clever at all. People with a character like that have lives full of deceit, depression, and insecurities. They are losers. Short term gain followed by long term pain. Any wise person would agree. Anyone believing in liberty would surely agree.

The bitcoin protocol was instigated on a basis of trust and honesty - thieves, at least in theory, should not be able to profit as it is implied that honesty is more profitable than dishonesty and theft.

The history of cryptos is rife with many, many scam stories and very, very few tales of honesty.

Why don't you go start a thread about it?  The only case you make is one for moderating your posts out of existence.  Your off-topic drivel doesn't belong in this thread.

[Boomslang]

Why don't you go start a thread about it?  The only case you make is one for moderating your posts out of existence.  Your off-topic drivel doesn't belong in this thread.

I was just about to post about that.

I apologise for the tangential nature of my posts and that they were not specifically about Libertycoin.

I was trying to raise people's awarenes so they could be careful, and it got a little bit leftfield.

I'll leave the tangents for another place and time.

[voisina]

Why don't you go start a thread about it?  The only case you make is one for moderating your posts out of existence.  Your off-topic drivel doesn't belong in this thread.

I was just about to post about that.

I apologise for the tangential nature of my posts and that they were not specifically about Libertycoin.

I was trying to raise people's awarenes so they could be careful, and it got a little bit leftfield.

I'll leave the tangents for another place and time.

Thank you. Mission accomplished!

[voisina]

Now buy those cheap coins!

[ljm81]

WOW this coin is so undervalued for only a 16 mill supply, been buying as much as I can with my profits from other coins and will continue to do so  happy days

[HappyHogan]

$100 by the end of the year, it's all in the name.

[dzonikg28]

You almost seem to have a point here.  Are you really criticizing LibertyCoin for the state of the alt-currency world?  Are you criticizing them because those with the most hash/ wealth can get the most coin?  What remedy would you suggest?  Communism? The greatest tragedy of the 20th century?  Regarding your poor daytrader comment, are you trying to justify your FUD?

FOr one i dont agree with you is this " Communism? The greatest tragedy of the 20th century? " i lived in that system before 1990 and i can tell is better 10 times then capitalism at least it was in my country..but for other i agree..FUDErs everywhere who dont care about coin not this not any other ..they just care to make money on trading so spread FUD and else ..its so tiring ..its not just on this coin ..its  on every fycking coin here...they will always sommething to use as a FUD ane repeat 100324324 times on every page

[Boomslang]

And for those still thinking I am spreading FUD or hold coins :-

I mined 17,000 XLB over 2 x 4MH/s utilising 2 x R9 280X per rig.

Prior to that I mined 0.58 BTC from multipools - electricity costs £183, BTC value 3 weeks ago £155

So when I entered Libertycoin I was minus £28

I bought just under 31k XLB for 0.58 BTC ... 22,000 were bought for 1795, 9k for 2200 btween 02:13 and 03:15 on 12/5/14.

When I exited, I had (and still have) a grand total of 2.85 BTC.

"Such a big player.  Such Fudding, Such hiding, Such secrecy, Such suchness".

[ljm81]

Keep them coming people lol.. Its funny cuz lets say you had a ferrari and its worth and you wanted 80 grand for it and i came up to you with 25 would you sell it to me lol. Anyway i think that’s a record for me to actually comment twice im gonna go back to doing and not talking. Peace out liberty lovers you got my full support its like the silver of the crypto world.