Elite coin another bittrex scam?

[oneway]

Only block in entire chain with >1(+fees) coin was genesis block - with 20,000 coins - this is a significant amount

You are right the money supply don't match the source code coin value...

[rikkejohn]

Only block in entire chain with >1(+fees) coin was genesis block - with 20,000 coins - this is a significant amount

I'm not a coder, tried and failed, but there is a 90,000 difference between blocks mined and total money supply.

The fees were weird, there was a fee for the smallest transaction (when using the wallet).

[TheCoinFinder]

Only block in entire chain with >1(+fees) coin was genesis block - with 20,000 coins - this is a significant amount

I'm not a coder, tried and failed, but there is a 90,000 difference between blocks mined and total money supply.

The fees were weird, there was a fee for the smallest transaction (when using the wallet).

How do you get this "moneysupply" thing to show up, as My getblock doesn't seem to show it?

Its presumably something to do with PoS probably..

But i just summed up each blocks' generated coins - and only the first block (block 1) had 20,000. The rest were 1+fees

[mikesrevenge]

Only block in entire chain with >1(+fees) coin was genesis block - with 20,000 coins - this is a significant amount

I'm not a coder, tried and failed, but there is a 90,000 difference between blocks mined and total money supply.

The fees were weird, there was a fee for the smallest transaction (when using the wallet).

How do you get this "moneysupply" thing to show up, as My getblock doesn't seem to show it?

Its presumably something to do with PoS probably..

But i just summed up each blocks' generated coins - and only the first block (block 1) had 20,000. The rest were 1+fees

try getinfo

[jc12345]

Guys it is unfair to blame Bittrex or any other exchange that adds a coin. The answer is sometimes right in front of you by applying good common sense and looking at the risk indicators. By looking at a few things you can make a call on the residual risk of a coin based on risk factors and then see how that fits into your risk appetite. You can then either stay away or risk it all and the alt-coin exchanges currently just provide a vehicle to cater for the whole of the spectrum of risk appetite.

In the absence of regulation in alt coins (self or otherwise) you can do certain basic things to protect yourself: Elite was high risk based on such an assessment, refer here https://bitcointalk.org/index.php?topic=702757.msg7974656#msg7974656

[mikesrevenge]

What's alarming is the rate Bittrex is adding them...

I pulled all coins from Bittrex.... not getting my volume anymore.

[joe.sixer]

Guys it is unfair to blame Bittrex or any other exchange that adds a coin. The answer is sometimes right in front of you by applying good common sense and looking at the risk indicators. By looking at a few things you can make a call on the residual risk of a coin based on risk factors and then see how that fits into your risk appetite. You can then either stay away or risk it all and the alt-coin exchanges currently just provide a vehicle to cater for the whole of the spectrum of risk appetite.

In the absence of regulation in alt coins (self or otherwise) you can do certain basic things to protect yourself: Elite was high risk based on such an assessment, refer here https://bitcointalk.org/index.php?topic=702757.msg7974656#msg7974656

Is it unfair to assume they should do some sort of QA/QC of code for the coins that they add? The 20k genesis block noted above should have been identified, yes?

[cassius69]

What's alarming is the rate Bittrex is adding them...

I pulled all coins from Bittrex.... not getting my volume anymore.

what choice do we have but to pull out of bittrex.

all the scams happen there.

more money lost for me and i am not a rich man. i was only in this trade for 2 hours and took a complete loss.

bittrex cant hide behind the free market argument anymore. there is no demand for being scam. stop listing this fucking shit and protect your customers.

[CryptoTV]

yup, im done with bittrex also.   This shit is silly.  No wonder the world is going to shit with so many willing to just take from others.    

Done with Bittrex,  Not putting any more money in the Altcoin market.  It makes me wonder why there are so many people who would rather destroy the whole crypto system for a quick buck instead of doing the work and cultivating it to profit everyone.  

The devs had something good here, it's sad that greed once again won out.

[TheCoinFinder]

You can't blame bittrex. If they don't add the coins - mintpal/polo or some other exchange would anyway.

If you are unsure of a coin - get its source code and check it.

In this instance - it seems no one did:

Code:

>>  pindexBest->nHeight+1!=1

Was in the codebase plain to see.

[goodluckpool]

Guys it is unfair to blame Bittrex or any other exchange that adds a coin. The answer is sometimes right in front of you by applying good common sense and looking at the risk indicators. By looking at a few things you can make a call on the residual risk of a coin based on risk factors and then see how that fits into your risk appetite. You can then either stay away or risk it all and the alt-coin exchanges currently just provide a vehicle to cater for the whole of the spectrum of risk appetite.

In the absence of regulation in alt coins (self or otherwise) you can do certain basic things to protect yourself: Elite was high risk based on such an assessment, refer here https://bitcointalk.org/index.php?topic=702757.msg7974656#msg7974656

which new X11 scam coin released past week was low risk???  

I think the eco system will change to a reputation based new coin release, someone will have to come out and said I was this successful coin dev, and I am making a new one for people to mine.
But there are too much spare X11 hash power out there, look, someone still throwing 2G hash at LTCX, a coin long dead.

[jasemoney]

threads locked, github source is empty... gg

[mikesrevenge]

You can't blame bittrex. If they don't add the coins - mintpal/polo or some other exchange would anyway.

If you are unsure of a coin - get its source code and check it.

In this instance - it seems no one did:

Code:

>>  pindexBest->nHeight+1!=1

Was in the codebase plain to see.

Not owning up to the problem is PART of the problem.

And not everyone can read code, so its not plain to see as you put it.

[ThomasJosh]

int64_t GetProofOfWorkReward(int64_t nFees)
{
    int64_t nSubsidy = 1 * COIN;

    if (fDebug && GetBoolArg("-printcreation"))
        printf("GetProofOfWorkReward() : create=%s nSubsidy=%"PRId64"\n", FormatMoney(nSubsidy).c_str(), nSubsidy);

    return nSubsidy + nFees;
}

and rest of code doesn't seem to hide any premine.

Of course - a block explorer would show this for sure.

Please share the source code for Elite coin , then we can check it !

[joe.sixer]

You can't blame bittrex. If they don't add the coins - mintpal/polo or some other exchange would anyway.

If you are unsure of a coin - get its source code and check it.

In this instance - it seems no one did:

Code:

>>  pindexBest->nHeight+1!=1

Was in the codebase plain to see.

If you want crypto to be more widely accepted, which would benefit all, there needs to be some level of responsibility for everyone involved. I'm a mathematician by trade, I don't necessarily read code well enough to understand the details. Bittrex takes part of the blame because they should know what they're doing. Long-term, this only hurts them, as it should.

[bit1]

threads locked, github source is empty... gg

must see nuclearcoin....   same thing

[cassius69]

threads locked, github source is empty... gg

must see nuclearcoin....   same thing

yep. this asshole is going to be back again tomorrow.

hes going to have a new coin and its going to be magically listed on shittrex and he will scam again.

parasites dont quit sucking blood until the host is dead. we r getting close.

[youaremysap]

bittrex should to be responsible for this coin,they could't hide again.

[mikelitoris]

personal responsibility guys. .we have all been scammed at one point and lost money, be very careful what you invest in.
history keeps repeating itself with greedy people who want to get rich quick.

[mikesrevenge]

I don't think anyone here does not feel they should be personally responsible.  There should be a level of professional responsibility as well.