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Author Topic: Why Poloniex Has Rejected SuperCoin  (Read 43249 times)
busoni (OP)
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June 14, 2014, 08:20:32 PM
 #1

Poloniex has decided not to list SuperCoin because of some disturbing things we turned up in our code review. I would like to draw your attention to this part of the ANN post:

Quote
- Total PoW coins will be 18.2 millions.
- Total coins (including PoS) will be about 50,000,000.

And these parts of the source code:

Code:
if (dAmount <= 0.0 || dAmount > 150000000.0)

Code:
static const int64_t MAX_MONEY = 150000000 * COIN;
static const int64_t POW_MAX_MONEY = 50000000 * COIN;

MAX_MONEY is pretty much what it sounds like. This means that the actual maximum supply of SuperCoin is 150 million, not 50 million. Furthermore, the maximum PoW coins is 50 million, rather than the claimed 18.2 million. The 150 million number appears twice in the code, so it can hardly be considered an accident.

We did not find evidence of an existing hidden premine, but extra coins could potentially be minted all at once at the end of the PoW phase, sent to exchanges via the "anon" feature, and dumped.

We have other concerns about the coin, particularly concerning the proposed method of anonymity, but the shenanigans with the maximum supply is sufficient for us to reject this coin.

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psychocoin
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June 14, 2014, 08:25:40 PM
 #2

Good call!

Win up to $200 every hour in BTC and DOGE! Trade MOTO, MIN, and other alts on C-CEX!
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June 14, 2014, 08:25:58 PM
 #3

:hands clapping:

I've only traded once or twice on your exchange, but it is nice to see exchanges doing their due diligence.

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June 14, 2014, 08:28:41 PM
 #4

Superdump!!! feels refreshing!
IPCoinz
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June 14, 2014, 08:32:52 PM
 #5

Great find!

Poloniex has just jumped to the top of my favorite exchange list.  Dont let the lack of bells and whistles on the user interface dissuade you.  Poloniex is on top of the industry.
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June 14, 2014, 08:35:34 PM
 #6

Well caught.  You could have just run with it and made some money but have taken the ethical stance which takes balls:)
greatwolf
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June 14, 2014, 08:38:01 PM
 #7

See this alone should be enough to encourage people to use poloniex more over the other exchanges. Kudos to busoni for the code review.
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June 14, 2014, 08:47:29 PM
 #8

Great work Poloniex! This is why I love you guys, you're always looking out for your customers. You're one of the few exchanges that do their due diligence and take the time to review the code before listing it. We need more exchanges to look out for the community.
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June 14, 2014, 08:47:33 PM
 #9

MAX_MONEY is pretty much what it sounds like. This means that the actual maximum supply of SuperCoin is 150 million, not 50 million. Furthermore, the maximum PoW coins is 50 million, rather than the claimed 18.2 million. The 150 million number appears twice in the code, so it can hardly be considered an accident.

That's retarded. How the fuck are you able to run an exchange, if you can't even figure out the basics?
MAX_MONEY doesn't indicate maximum supply, it's a check value for transaction validity.
UNO_owner
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June 14, 2014, 08:53:16 PM
 #10

I wonder if Polo will give refunds to all the people that panic sold based on their faulty FUD.

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June 14, 2014, 08:54:31 PM
 #11

I wonder if Polo will give refunds to all the people that panic sold based on their faulty FUD.

Seriously.
Talk about legally sticking your neck out..
Not a wise idea.
Just say you are not listing it, don't need to explain why.
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godofdefire
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June 14, 2014, 08:54:50 PM
 #12

Thank you Poloniex team, due diligence like this is what is taking crypto to the next level.

  poloniex.com was the first site I ever traded on, and it's the easiest and most user friendly site I have found to date.

    The hard work put into poloniex.com is evident throughout the site.
busoni (OP)
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June 14, 2014, 08:55:36 PM
 #13

MAX_MONEY is pretty much what it sounds like. This means that the actual maximum supply of SuperCoin is 150 million, not 50 million. Furthermore, the maximum PoW coins is 50 million, rather than the claimed 18.2 million. The 150 million number appears twice in the code, so it can hardly be considered an accident.

That's retarded. How the fuck are you able to run an exchange, if you can't even figure out the basics?
MAX_MONEY doesn't indicate maximum supply, it's a check value for transaction validity.

MAX_MONEY itself doesn't provide extra coins, but it means they could be inserted into the blockchain and the network would consider them valid. This would be even easier to do using the "trustless" anon system.

Poloniex.com - Fast crypto exchange with margin trading, advanced charts, and stop-limit orders
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June 14, 2014, 08:57:14 PM
 #14

citing max supply is not enough to prove that coin is scam. More careful investigation needed in source code.

(i'm not trying to defend Super here because i don't own any of that shitcoin Smiley)
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June 14, 2014, 08:57:50 PM
 #15

MAX_MONEY is pretty much what it sounds like. This means that the actual maximum supply of SuperCoin is 150 million, not 50 million. Furthermore, the maximum PoW coins is 50 million, rather than the claimed 18.2 million. The 150 million number appears twice in the code, so it can hardly be considered an accident.

That's retarded. How the fuck are you able to run an exchange, if you can't even figure out the basics?
MAX_MONEY doesn't indicate maximum supply, it's a check value for transaction validity.

What does indicate maximum supply in the code?

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ol92
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June 14, 2014, 08:58:21 PM
 #16

MAX_MONEY is pretty much what it sounds like. This means that the actual maximum supply of SuperCoin is 150 million, not 50 million. Furthermore, the maximum PoW coins is 50 million, rather than the claimed 18.2 million. The 150 million number appears twice in the code, so it can hardly be considered an accident.

That's retarded. How the fuck are you able to run an exchange, if you can't even figure out the basics?
MAX_MONEY doesn't indicate maximum supply, it's a check value for transaction validity.

In the asiacoin hidden premine, I believe these constants were used to trick the blockchain explorer et the wallet code which give the total number of coins.
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June 14, 2014, 08:59:27 PM
 #17

MAX_MONEY is pretty much what it sounds like. This means that the actual maximum supply of SuperCoin is 150 million, not 50 million. Furthermore, the maximum PoW coins is 50 million, rather than the claimed 18.2 million. The 150 million number appears twice in the code, so it can hardly be considered an accident.

That's retarded. How the fuck are you able to run an exchange, if you can't even figure out the basics?
MAX_MONEY doesn't indicate maximum supply, it's a check value for transaction validity.

MAX_MONEY itself doesn't provide extra coins, but it means they could be inserted into the blockchain and the network would consider them valid. This would be even easier to do using the "trustless" anon system.

What the fuck are you talking about? How would those "extra coins" be generated? You clearly have no idea how cryptocurrencies function.
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June 14, 2014, 09:00:06 PM
 #18

Nice find.

https://whattomine.com - Check what to mine Smiley
Swag
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June 14, 2014, 09:00:19 PM
 #19

MAX_MONEY is pretty much what it sounds like. This means that the actual maximum supply of SuperCoin is 150 million, not 50 million. Furthermore, the maximum PoW coins is 50 million, rather than the claimed 18.2 million. The 150 million number appears twice in the code, so it can hardly be considered an accident.

That's retarded. How the fuck are you able to run an exchange, if you can't even figure out the basics?
MAX_MONEY doesn't indicate maximum supply, it's a check value for transaction validity.

What does indicate maximum supply in the code?
blockreward
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June 14, 2014, 09:02:26 PM
 #20

Question:
What that line means: if (dAmount <= 0.0 || dAmount > 150000000.0)
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