NEM's Leader UtopianFuture admits to Scamming/Lying=NEM is a scam

[darkota]

Below is what UtopianFuture said in the now Locked, NEM thread. He has admited to having sockpuppet accounts, and a user has also found out he has had as much as 60 sockpuppet accounts with stakes in NEM. Goes to show how NEM is a scam.

In this statement will try to address three issues: One is on NEM distributional idea which I don't think many people understand even with many many pages and words have been poured on the issue so far. Secondly, I will address the issue of my personal conduct and the last issue is about what will be the future of NEM and UtopianFuture.

NEM distributional idea is best understood in this summary written in the Development Contract.

"The purpose of the stakeholder community distribution round  is to spread the majority of NEM evenly and to many stakeholders as long as the logistics allows. The goal is to build a big and decentralized community that can support NEM's exsitence and operation as a decentralized network"

IMO, the distribution round was a success. We are now having a big and passionate group of developers and helpers that share the same goal and a sense of solidarity. That's very important because they will be shaping the future of NEM with or without me.

The spread of the distribution round  was excellent as you can see in the population statistics. The number does not lie and we can show that to any detractors.  

I failed in my personal conduct and not adhere to the rules I set myself. If you are familiar with American politics, now I have the Eliot Spitzer or Anthony Weiner problem.

I had a few sockpuppet accounts but I have no intention of cashing out any of them. I did not write down the sock accounts (using an arbitrary password that I can't remember) neither and plan to donate the fees for the development fund. I created sock accounts to keep the thread at a high demand when we have few supporters. Ghosthouse is the only account I kept using more so that I can use it sometimes to cheer up NEM threads.

It is what it is. I apologize to my core team members, to all NEM supporting developers and helpers for this issue. I will step down from now on.

The task of maintaining NEM stakeholder list will be transfered to Patmast3r. He has been sharing the access to the file with me for quite sometimes. NEMtoken account will be passed to Pastmast3r as well.

NEM Twitter account will be transfered to Makoto and he could pass on to the most suitable person.

NEM development fund accounts will be fully transfered to Jaguar0625, Gimre and Thies1965.

Ournem website will be transfered to the core team as well.

Update and Discussion and Refunds threads will be closed after new threads with similar functions can be made up.

All press contacts will be passed to the core team so that they can find an appropriate person for the job.

I resign from all leading function within NEM and this will be the last post of UtopianFuture.

[TaunSew]

NEM has the best distribution in any crypto.   NXT had a 1.5 BTC limit and ther was no taint analysis.  According to several people, BCnext took around 80% of NXT for himself and has been profiting ever since.

UF never took any substantial amounts.  NEM's wide distribution is such that nobody can take a huge amount for themselves.  Just to have the power of one NXT whale one would have to create 400 NEM sockpuppets.  That's 400 times of registering accounts, bypassing the anti-spam (and risk them subnet banning all your accounts) and avoiding taint analysis.  It simply didn't happen.  UF's development stake was worth more than any sockpuppets he may have made.

[From Above]

+1 In an act of utter betrayal UtopianFuture stabbed the back of the entire community to enrich himself with a supposedly FREE, EQUAL EGALITARIAN project. What a joke. It was meant to enrich him in the first place by enslaving workers for his dream.

Sad development team, even more sad community.  "NEM" is the crown of Bitcointalk Scam.

This is an utterly intense scam.

[bitcool]

Not surprising at all, this distribution mechanism is inherently flawed.

[gorillajam]

We shouldn't be too hard on NEM.


I mean who could of known Communism would fail?

[From Above]

Not surprising at all, this distribution mechanism is inherently flawed.

+1

however we should not throw stones, we all have mistakes.

[gorillajam]

Not surprising at all, this distribution mechanism is inherently flawed.

+1

however we should not throw stones, we all have mistakes.

True. We should let the prostitute UP go free.


But he should leave his life of Whoring coins.

[ChuckOne]

NEM people do not understand Pareto Law.

[darkota]

NEM people do not understand Pareto Law.

+1

[darkota]

NEM is a huge scam. Utopianfuture caught with 400 sockpuppet accounts, each with 1 NEM stake.

[ShroomsKit_Disgrace]

What I love of NEM is the smooth wallet and the fast transaction time!

The wallet will load the whole blockchain in less than 1 microsecond!!!!


And all the transactions up to date have been made almost instantly!!!!

Man, that BLOWS MY MIND! NEM is the killer!

 

[lordoliver]

NEM is a huge scam. Utopianfuture caught with 400 sockpuppet accounts, each with 1 NEM stake.

no it were 400000 sockpuppets! believe me!

[darkota]

NEM is a huge scam. Utopianfuture caught with 400 sockpuppet accounts, each with 1 NEM stake.

no it were 400000 sockpuppets! believe me!

I know, he had a lot of sockpuppets, no need to exaggerate too much. At most he had 2,000 sockpuppets with stake. out of the 3,000 stakeholders

[r0ach]

Just add a forum sticky that anything involving an IPO is a scam as talked about in this post:

Anything premined with an IPO over the span of 1 second usually has an abysmal market penetration defeating the whole purpose of cryptocurrency, or just results in a pyramid scheme to try and force the masses to enrich a handful of people.  This isn't why Bitcoin was created and seems like a blatant hijack of it to turn it into a get rich quick scheme.  If the proof of stake coin is mined over a long period, like Bitcoin is, then my stance on that is obviously different.

[griffinriz]

No he has 3000 Socketpuppet accounts and Yes if i  am saying you should believe me.

[Ingatqhvq]

 

[Hollowman338]

Old FUD is old.  NEM is currently kicking ass in beta.

[kodtycoon]

uptopian could have stayed and gotten 20/30/40/50/60 stakes out of the development fund for running nem. if he was interested in getting nemstakes do you not think he would have stuck around to get those which he would have been very deserving of anyway? even if he did have 5/10 sock puppets, so what? he deserves them if you ask me. on another note in relation to sock puppets, there were two rounds of sock removal which caught loads in the first round and another large batch in the second round. the second round caught i would assume most of the ones who got past the first round because no one seen it coming. not even those on the marketing team knew it was coming. with those removed its fairly easy to say that the vast majority have been caught. obviously some will have been clever enough to get through but not many i would say. ip addresses and browser signatures or something (which i didnt know could even be done) were used to catch people in the second round.

utopian knew exactly what he was doing and it was quite obvious the way he "got caught" and then immediately stood down. while he was in charge it was exactly that.. one guy calling the shots. once he stood down it became a community driven and run project. no one person has the final say now and thats the way things should be.

some may call scam on utopian having a couple socks but that couldnt be further from the truth. utopians departure, regardless of the reason has made nem a stronger, more decentralized initiative with out a "leader" and now it is run with the same egalitarian ideals that the distribution was based on.

did he have socks? yes.. he admitted that.. did he/will he cash them in? no one will ever know for sure but i wouldnt blame him if he did. does it make any difference what so ever to nem if he has got a few socks and cashes them in? no.. why would it? hes not in charge anymore and has disappeared with out a trace. its no different to any other user having a couple sock puppets. the tech is the same, the distribution is still just as good and nem will still be great. using "utopian had socks" against nem is a pointless argument as it wont ever have any effect on nem what so ever.

also.. post this proof that he had 60 sock puppets! otherwise is it pure and utter FUD.

i find it very reassuring that this is the best fud people can seem to come up with.