Hey Cryptcoin Dev Mindfox, care to answer to these PROVEN allegations?
http://pastebin.com/zcn65Eez/^this link shows that mindfox was involved in the whitecoin pump and dump scam. He jumped on the team and everyone poured money into the coin; hours later the coin crashed.
http://www.reddit.com/r/CryptCoin/comments/28e8be/security_analysis_of_cryptcoins_cryptcast_feature/^this link sheds light on the fact that Cryptcoin is ALL HYPE, there is no anonymity feature whatsoever, it is simply a pump and dump waiting to implode.
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Investors please be weary of these alarming findings. Seriously I just sold my last 3.4k CRYPT, this is really shady stuff.
I demand that mindfox be removed from the team, in the mean time I'm selling all of my coins in protest.
Holy shit, I have 16.3 bitcoins 100% in Cryptcoin but am dumping all immediately, this is extremely alarming!! I invested in whitecoin, I cannot afford to lose my precious bitcoins like that again!!!!!!!!!!! WTF
Anyone buying now please beware, this is truly eye opening information. BE CAREFUL DO NOT BUY.
Mindfox was involved in the peer review of XC code, the one that people spreading FUD requested. Days later Cryptcoin was launched and now Mindfox is the lead developer. The thing is that XC still has the p2p protocol, the EXACT thing that he is working on right now for CRYPT, but its already in the wallet. This means that Mindfox took the source code from the wallet he reviewed, stole it, and is now racing to implement it into CRYPT. This can be proven as the technology already exists within the XC client. Furthermore, CRYPT has no ambitions of blockchain 2.0, its simply being manipulated in price so that whales can make a boatload of money before the crash. This lack of goals for the future should strike anyone as alarming, as CRYPT's future is short sided.
This scam is spreading, and people are caught up in the hype, but this cannot go unquestioned.
If he is trying to rip off the code just goes to show... XC knows what it's doing...... If this is true though it is not exactly a vote of confidence for Crypt.. I doubt XC will be doing peer review of code again in a hurry....
I just woke up, did this guy seriously rip off our code? Lack of innovation, hype, pump and dump; Holy shit these investors are about to lose their money. How do people sleep at night?
https://twitter.com/chunkmonke/statuses/479295485807984640To anyone and everyone get out while you still can. There is nothing backing this pump and dump, and just like I said, it's happening. The instamine is being dumped onto the markets and developers are cutting ties.
Please go backup these instamine claims.
Here is the original OP, showing that it is a ninja launch, along with the RAPID halving schedule, it is very apparent. Also there is no rich list in the NEW updated OP because it would reveal the developer and his cronies.
There is no mention on anonymity, branding, intentions, nothing; yet the developer has been the same person since day one.
Cryptcoinhttps://i.imgur.com/w7pcbQZ.png11 Million cap.
Block time: 1.5 minute
Stake Interest: 2.75%
Minimum Stake Age, 12 hours, One Year Max age
Reward:
500 to block 2000 -> 1,000,000
250,to block 4000 -> 1,000,000
125, to block 8000 -> 1,000,000
62.5, to block 16000 -> 1,000,000
31.25,to block 224000 -> 7,000,000
Pools:To be announced
Exchanges:None yet
News:None yet
Downloads:On launch
May 20th, 11:00 PM EST.
? we start now ?
To anyone and everyone, please get out while you still can, the volume has shot up incredibly high, I do believe the instamine is being dumped; and to those who heeded my warning early, congratulations you didn't get burned.
Please, help me help you. Good luck.
SUMMARY CryptCoin with CryptCast probably provides no more security than Bitcoin. CryptCoin users are advised to NOT ASSUME that their transactions will be more "private" (or "secure" in any sense) than regular Bitcoin transactions. Using CryptCoin instead of Bitcoin may in fact reveal more information about parties that are involved in transactions.
1. This document describes some potential security vulnerabilities in CryptCoin's CryptCast feature.
This feature is described in this document:
http://cryptco.org/Cryptcoin-CryptCast-Anonymous-Whitepaper.pdf2. Simplifed example of CryptCast algorithm: * Wallet A wants to send coins to Wallet B, * Wallet A must somehow find the public key of Wallet B (this may be published on website, for example), * Wallet A sends encrypted message to Wallet B: "I want to send you 10 coins in 3 transactions." * Wallet B sends back encrypted message to Wallet A: "Ok, send them to ADDRESS1, ADDRESS2 and ADDRESS3." * Wallet A sends 10 coins to addresses ADDRESS1, ADDRESS2 and ADDRESS3 in three separate transactions.
3. When Wallet A sends coins to Wallet B, these are just regular transactions that are visible in blockchain. The coins are not even "mixed" with coins from other transactions (CoinJoin concept).
So these transactions can be easily analysed with the same methods that can be used on Bitcoin blockchain. In fact it is probably even easier to do this kind of analysis because of smaller number of users/transactions.
4. When Wallet A wants to send coins to Wallet B, it must know only it's public key. With this public key it can request some new addresses from Wallet B.
In this case the third party has no direct access to these newly generated addresses.
However, this is also true when paying with Bitcoins: - user goes to merchant's website via HTTPS, - clicking button "buy now" which generates new address (in fact, it could generate multiple addresses), - user uses its wallet to send coins to these newly generated addresses.
So CryptCast does nothing else that Bitcoin is already doing today.
5. CryptCast's secure transactions are optional.
Secure transactions don't work if the computer of receiving party is not running a wallet (or is not online etc.). If the wallet is not running, then nobody can use secure transactions to send coins to this wallet.
However, this makes system very unsecure. If user of Wallet A uses secure transaction to send coins to Wallet B, it cannot "force" the user of Wallet B to use secure transaction when sending coins to Wallet C.
If the Wallet B sends coins to Wallet C using nonsecure transactions, this can make blockchain analysis much easier and the party that owns Wallet A can be much easier identified. In this case the analysis of blockchain is not "harder" than in the case of Bitcoin.
Nonsecure transactions usually use different "inputs" and they send them to one or more outputs. This automatically "proves" that the all these inputs belong to the same party (because there is no "mixing" involved at all). This effectively "nullifies" effect of secure transaction that was used to send coins from Wallet A to Wallet B.
6. When wallets are online, they respond to requests for secure transactions. This allows attack which can relate most wallet public keys with their IP address.
See this Coindesk article for short description of attack on Bitcoin network:
http://www.coindesk.com/eavesdropping-attack-can-unmask-60-bitcoin-clients/The similar attack can be used to reveal IP addresses that correspond to "public keys" of targeted wallets.
Such attack on CryptCoin network could be done almost trivially because of smaller number of nodes and because wallets must be online all the time to be able to accept secure transactions.
