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[PilotofBTC]

What a massive scam. Many lessons will be learned with this one, I hope.

No pain, no gain.

Huge profit need huge risk.

 

First of all, the only people that stand to gain "huge profit" are the devs. I can't stop people from being idiots but remember this post when you lose your ass and the devs vanish with your money in a month. Why is there potential for "huge profits" here compared to any other piece of crap scam? Anybody who buys into this IPO is scary-stupid. Oh well. I tried. I've never been wrong about this before but I guess that doesn't count for much when it comes to greedy dipshits.

  Ooohhh thank you Jesus!)))
You are really funny guy)

Why do you want to lose money? I guess I don't get it. We've seen this same scam 100 times and it's always the same. How do people keep falling for it?

I'm curious. What is your definition of scam?

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[Litoshi]

A scam is a scheme that seeks to gain unfair financial advantage (cheat) over another. 

For example:

METH (cryptoMeth) was listed on Mintpal 2 weeks ago.  Immediately, millions of coins were dumped on the exchange from one wallet, and now the devs are AWOL. 

Yesterday, jackpot Coin was listed on MintPal.  9 BTC of coin was dumped immediately, dropping the proce from 1000 satoshi to 20 satoshi.  The devs are now AWOL as well.  Turns out the devs had premined 6 times as many coins as the 1% they admitted to. 

STACKCoin had a premine IPO.  He charged BTC to premine for several days before the launch.  Then he extended the premine another  day for more BTC.  Then extended it again for 12 hours.  At launch time, all went dark.  No dev, No mining, no wallets, no BTC.

So if you think that the devs of this coin are going to stick around after it gets listed on a popular exchange, you are smoking funny tobacco.  They will make lots of BTC in the IPO, and another smaller stash in the dump-after-exchange-listing.

[PilotofBTC]

A scam is a scheme that seeks to gain unfair financial advantage (cheat) over another. 

For example:

METH (cryptoMeth) was listed on Mintpal 2 weeks ago.  Immediately, millions of coins were dumped on the exchange from one wallet, and now the devs are AWOL. 

Yesterday, jackpot Coin was listed on MintPal.  9 BTC of coin was dumped immediately, dropping the proce from 1000 satoshi to 20 satoshi.  The devs are now AWOL as well.  Turns out the devs had premined 6 times as many coins as the 1% they admitted to. 

STACKCoin had a premine IPO.  He charged BTC to premine for several days before the launch.  Then he extended the premine another  day for more BTC.  Then extended it again for 12 hours.  At launch time, all went dark.  No dev, No mining, no wallets, no BTC.

So if you think that the devs of this coin are going to stick around after it gets listed on a popular exchange, you are smoking funny tobacco.  They will make lots of BTC in the IPO, and another smaller stash in the dump-after-exchange-listing.

I agree those are scams. Scam being either the coin never gets distributed, or when it does the dev is never heard from again and there was no source code.

If I Want to scam someone I would do something like:

State 100% of coins go to investors. (see no "premine" I'm legit right?)
Release the source code of the coin on github
Set an ipo with a BTC address and Escrow
Not change the IPO date, why change it if I just plan to run.
The, I simply list myself as an investor that gets a good 20-30% of the coin.

So, "pre-mine" which isn't really even a valid thing to call it with a POS coin, doesn't guarantee a scam. Nor dose Escrow guarantee that it is legit.

All new code from scratch in javascript seems like a lot of work to do to scam someone. He could have just forked next or Bitcoin, or peer-coin etc.

That said, there is much said to wait after an IPO and buy the coins on an exchange after the initial dump period.

[Djinou94]

Paз нeт pyccкoй вeтки я cпpoшy тyт.
Пoчeмy тaкoй бoльшoй пpoцeнт (15%) для paзpaбoтчикoв? Я дyмaл дeньги c ипo идyт дeвaм, a тyт eщe и 15% y ниx бyдeт cocpeдoтoчeнo +10% нa пpoдвижeниe. Пoлyчaeтcя жe 15% пpeмaйн. или я чтo-тo нe тaк пoнимaю?
google translate
If there are no Russian branch, I will ask here.
Why such a high percentage (15%) for developers? I thought money mortgage are virgins, and then there's 15% they will be focused on the promotion of 10%. Obtained a 15% premine. or something I do not understand?

Дeньги c IPO идyт нe paзpaбoтчикaм, a нa дaльнeйшyю paзpaбoткy. Бyдeт btc aдpec, пo кoтopoмy бyдyт oтчeты кaждый мecяц, кyдa и чтo yшлo.
Пpoцeнт пo пpeмaйнy cкopeй вceгo бyдeт пepecмoтpeн, мы oбcyждaeм этo.
Пo пoвoдy development fund (10%) oн бyдeт yмeньшaтcя в зaвиcимocти oт кoличecтвo btc нa IPO. Cмoтpитe пepвый пocт.

and could you please explain this in english too.

These people are idiot Dimitri we gonna fuck them all with our scam project
And then it's caviar, vodka at 10% alcohool and Tatiana's for the rest of our life bro

[amanai99]

Paз нeт pyccкoй вeтки я cпpoшy тyт.
Пoчeмy тaкoй бoльшoй пpoцeнт (15%) для paзpaбoтчикoв? Я дyмaл дeньги c ипo идyт дeвaм, a тyт eщe и 15% y ниx бyдeт cocpeдoтoчeнo +10% нa пpoдвижeниe. Пoлyчaeтcя жe 15% пpeмaйн. или я чтo-тo нe тaк пoнимaю?
google translate
If there are no Russian branch, I will ask here.
Why such a high percentage (15%) for developers? I thought money mortgage are virgins, and then there's 15% they will be focused on the promotion of 10%. Obtained a 15% premine. or something I do not understand?

Дeньги c IPO идyт нe paзpaбoтчикaм, a нa дaльнeйшyю paзpaбoткy. Бyдeт btc aдpec, пo кoтopoмy бyдyт oтчeты кaждый мecяц, кyдa и чтo yшлo.
Пpoцeнт пo пpeмaйнy cкopeй вceгo бyдeт пepecмoтpeн, мы oбcyждaeм этo.
Пo пoвoдy development fund (10%) oн бyдeт yмeньшaтcя в зaвиcимocти oт кoличecтвo btc нa IPO. Cмoтpитe пepвый пocт.

and could you please explain this in english too.

These people are idiot Dimitri we gonna fuck them all with our scam project
And then it's caviar, vodka at 10% alcohool and Tatiana's for the rest of our life bro

Try act in Comedy. You're good enough.

[pabloangello]

So where is the presell, where can we buy?

[SyRenity]

So where is the presell, where can we buy?

Will be announced in the coming days, we are working on the distribution mechanism to ensure a proper functioning on the launch.

[SyRenity]

These people are idiot Dimitri we gonna fuck them all with our scam project
And then it's caviar, vodka at 10% alcohool and Tatiana's for the rest of our life bro

A bit a personal question if I may, Qora had the same risks, plus the developer is completely anonymous.

So how come you have participated in that IPO (which did over 100 BTC AFAIR)?

[MEGAman]

A scam is a scheme that seeks to gain unfair financial advantage (cheat) over another. 

For example:

METH (cryptoMeth) was listed on Mintpal 2 weeks ago.  Immediately, millions of coins were dumped on the exchange from one wallet, and now the devs are AWOL. 

Yesterday, jackpot Coin was listed on MintPal.  9 BTC of coin was dumped immediately, dropping the proce from 1000 satoshi to 20 satoshi.  The devs are now AWOL as well.  Turns out the devs had premined 6 times as many coins as the 1% they admitted to. 

STACKCoin had a premine IPO.  He charged BTC to premine for several days before the launch.  Then he extended the premine another  day for more BTC.  Then extended it again for 12 hours.  At launch time, all went dark.  No dev, No mining, no wallets, no BTC.

So if you think that the devs of this coin are going to stick around after it gets listed on a popular exchange, you are smoking funny tobacco.  They will make lots of BTC in the IPO, and another smaller stash in the dump-after-exchange-listing.

I agree those are scams. Scam being either the coin never gets distributed, or when it does the dev is never heard from again and there was no source code.

If I Want to scam someone I would do something like:

State 100% of coins go to investors. (see no "premine" I'm legit right?)
Release the source code of the coin on github
Set an ipo with a BTC address and Escrow
Not change the IPO date, why change it if I just plan to run.
The, I simply list myself as an investor that gets a good 20-30% of the coin.

So, "pre-mine" which isn't really even a valid thing to call it with a POS coin, doesn't guarantee a scam. Nor dose Escrow guarantee that it is legit.

All new code from scratch in javascript seems like a lot of work to do to scam someone. He could have just forked next or Bitcoin, or peer-coin etc.

That said, there is much said to wait after an IPO and buy the coins on an exchange after the initial dump period.

Right - and good scammers will adjust parameters of scams so they can continue to be successful at their craft. Same shit, new package. I have not seen one mildly convincing thing here to show this will ever amount to anything. Why would people invest in something without even knowing what it is? Distribution will be terrible, the devs are taking too big of a cut, and all of that IPO money goes right to the devs. Sure they could spend it on the project out of the kindness of their heart but history has proven time and time again what will really happen. They make a ton of money from the IPO right away, send you some worthless coins, and then keep stringing everybody along until it's listed on MintPal where they make even more money dumping their share on everybody. Then they vanish since it's the Internet and nobody can do anything about it.

Why would they waste a ton of time actually trying to build something great that requires time, dedication, and skill? They can just keep running new scams, make 20 times as much money, and they barely need any skill at all. As long as people are stupid enough to buy into this crap the motivation to actually make something legitimate dwindles even further. Right now, there is a lot more money in scams that legit ventures in the altcoin world because stupid, greedy people continue to support criminals instead of doing research and using their heads.

[pabloangello]

So where is the presell, where can we buy?

Will be announced in the coming days, we are working on the distribution mechanism to ensure a proper functioning on the launch.

I'm just asking because it was told that this will start 30 of June. So it is delayed yes?

[SyRenity]

All new code from scratch in javascript seems like a lot of work to do to scam someone. He could have just forked next or Bitcoin, or peer-coin etc.

Just a small correction, there is a team and an initial angel investor, rather then a one-man show developer.

[SyRenity]

I'm just asking because it was told that this will start 30 of June. So it is delayed yes?

Indeed, we seen that we are not ensuring a proper distribution in time and decided to push, rather then rush and have possible complications later on.

[techbytes]

For whatever reasons, the screenshots reminded me of EdgeCoin.  I just can't get past that...


-tb-

[pabloangello]

I'm just asking because it was told that this will start 30 of June. So it is delayed yes?

Indeed, we seen that we are not making this in time and decided to push, rather then rush.

Ok so, I will follow the thread anyway.

[SyRenity]

For whatever reasons, the screenshots reminded me of EdgeCoin.  I just can't get past that...
-tb-

Have you tried the beta (which Edge never had)?

[MEGAman]

All new code from scratch in javascript seems like a lot of work to do to scam someone. He could have just forked next or Bitcoin, or peer-coin etc.

Just a small correction, there is a team and an initial angel investor, rather then a one-man show developer.

Really? 2-3 days worth of coding for a mediocre developer to make possibly $100,000 USD? Not to mention there are already a ton of JS implementations of the code - it's obviously not from scratch. Same shit different box.

There are a lot of doctors that went to school until they were 30 who don't make that much in a year. Well worth a few days of effort for what is likely a 16-year-old kid. There are no investors - the idiots giving them their money are the "investors." This scam makes Bernie Madoff look legitimate.

[SyRenity]

Why would they waste a ton of time actually trying to build something great that requires time, dedication, and skill? They can just keep running new scams, make 20 times as much money, and they barely need any skill at all. As long as people are stupid enough to buy into this crap the motivation to actually make something legitimate dwindles even further. Right now, there is a lot more money in scams that legit ventures in the altcoin world because stupid, greedy people continue to support criminals instead of doing research and using their heads.

So, let me try and summarize what would be the terms ensuring the lowest risk, from your point of view:

* Vested developers Crypti, that will be released to developers as the time passes
* Capped sum per buyer, allowing to prevent "whailing" from heavy buyers
* Voted management of raised BTC funds, to ensure they are spent only for the benefit of Crypti progress

Am I correct?

[Djinou94]

These people are idiot Dimitri we gonna fuck them all with our scam project
And then it's caviar, vodka at 10% alcohool and Tatiana's for the rest of our life bro

A bit a personal question if I may, Qora had the same risks, plus the developer is completely anonymous.

So how come you have participated in that IPO (which did over 100 BTC AFAIR)?

Im kidding man 
I will invest, it´s a gud coin

[SyRenity]

Really? 2-3 days worth of coding for a mediocre developer to make possibly $100,000 USD? Not to mention there are already a ton of JS implementations of the code - it's obviously not from scratch. Same shit different box.

I presume you can code Crypti clone in 2-3 days with all the described and planned features?
If yes, please let me know once you launch it, I will be the first to invest knowing there is such a rock-star developer beyond it.

Otherwise, I'd suggest you to hold on with these speculations until Crypti becomes available for download, so you could see the amount of (obfuscated for now) code there.

[MEGAman]

Why would they waste a ton of time actually trying to build something great that requires time, dedication, and skill? They can just keep running new scams, make 20 times as much money, and they barely need any skill at all. As long as people are stupid enough to buy into this crap the motivation to actually make something legitimate dwindles even further. Right now, there is a lot more money in scams that legit ventures in the altcoin world because stupid, greedy people continue to support criminals instead of doing research and using their heads.

So, let me try and summarize what would be the terms ensuring the lowest risk, from your point of view:

* Vested developers Crypti, that will be released to developers as the time passes
* Capped sum per buyer, allowing to prevent "whailing" from heavy buyers
* Voted management of raised BTC funds, to ensure they are spent only for the benefit of Crypti progress

Am I correct?

At least 1 and 3. Capped sum is pointless since it's been proven how easily manipulated it is. Basically, people need to approach every altcoin as a scam until proven otherwise. As many safeguards as possible must be in place. I just haven't seen anything here that demonstrates this coin has any value or utility. JS source? That is nothing new. IPO coins are extremely risky and several developers of IPO coins have actually been prosecuted since the distribution method violates a number of laws itself while also making it easy to cheat. This whole market is about greed on both sides. Nobody is doing a damn thing to advance the movement or better the world. It's about easy money and these coin devs are at the top of the food chain right now ripping you all off.