Elite coin another bittrex scam?

[UGETHIT]

I was quoting something from a different thread.  Guy said, quit supporting new coins on bittrex until they review the code.  I said I believe that will happen.  I went on to say the total volume for bittrex for 24 hours at the time of the scam was 1845 btc.  Now it is 929.58 for 24 hours and still dropping.  

The point is clearly people are upset with Bittrex.  They failed now their business is suffering.  So I hope this clears it up for you Rugrats.

[Dimitry]

I was quoting something from a different thread.  Guy said, quit supporting new coins on bittrex until they review the code.  I said I believe that will happen.  I went on to say the total volume for bittrex for 24 hours at the time of the scam was 1845 btc.  Now it is 929.58 for 24 hours and still dropping.  

The point is clearly people are upset with Bittrex.  They failed now their business is suffering.  So I hope this clears it up for you Rugrats.

The more we get this out the more bittrex will suffer. Once they suffer enough they wil do something about it! Hope for bittrex it wont be tolate.

They should make official statement. But no they put there heads in the *** and say its not our fold!

Daily volume dropped over 30% at bittrex! lets get another 30%

[joelpina]

When wil this stop?

Is this anoter inside job? https://bitcointalk.org/index.php?topic=702981.120

[cassius69]

When wil this stop?

Is this anoter inside job? https://bitcointalk.org/index.php?topic=702981.120

we all have to stop supporting this new shitcoins.

they all look the same anymore.

short mining period/mined heavily by dev on private pool.

followed by exchange listing and dump.

or they have hidden premine and dump.

either way its crazy to buy these new altcoins because they are going to get dumped.

just keep warning everyone about the dangers until the volume dries up and then problem is solved.

we have the power to stop this!

[joelpina]

When wil this stop?

Is this anoter inside job? https://bitcointalk.org/index.php?topic=702981.120

we all have to stop supporting this new shitcoins.

they all look the same anymore.

short mining period/mined heavily by dev on private pool.

followed by exchange listing and dump.

or they have hidden premine and dump.

either way its crazy to buy these new altcoins because they are going to get dumped.

just keep warning everyone about the dangers until the volume dries up and then problem is solved.

we have the power to stop this!

Xcloudcoin raising 500btc via bittrex... Just wow!

People dont learn and get sucked into same hustle

[Dimitry]

When wil this stop?

Is this anoter inside job? https://bitcointalk.org/index.php?topic=702981.120

we all have to stop supporting this new shitcoins.

they all look the same anymore.

short mining period/mined heavily by dev on private pool.

followed by exchange listing and dump.

or they have hidden premine and dump.

either way its crazy to buy these new altcoins because they are going to get dumped.

just keep warning everyone about the dangers until the volume dries up and then problem is solved.

we have the power to stop this!

Xcloudcoin raising 500btc via bittrex... Just wow!

People dont learn and get sucked into same hustle

Thats why we should all keep away from those new coins bittrex is adding for atleast a month! They better add some sleepers.

[cassius69]

When wil this stop?

Is this anoter inside job? https://bitcointalk.org/index.php?topic=702981.120

we all have to stop supporting this new shitcoins.

they all look the same anymore.

short mining period/mined heavily by dev on private pool.

followed by exchange listing and dump.

or they have hidden premine and dump.

either way its crazy to buy these new altcoins because they are going to get dumped.

just keep warning everyone about the dangers until the volume dries up and then problem is solved.

we have the power to stop this!

Xcloudcoin raising 500btc via bittrex... Just wow!

People dont learn and get sucked into same hustle

500 BTC? $300000 to fund the development of a shitcoin that wont last a week.

we would have to be crazy to buy that shit?

people are we crazy? hell no! say no to i.c.o!

[joelpina]

So question people should start asking is that why bittrex is supporting these scams... if everything is true then they are knowingly hariming the community for their own short term gain... It will only change if people start to boycott the new shitcoins and exchanges that add the instantly in pnd.

In real world thats a crime because people loose money and the same law should apply here too.

[cassius69]

So question people should start asking is that why bittrex is supporting these scams... if everything is true then they are knowingly hariming the community for their own short term gain... It will only change if people start to boycott the new shitcoins and exchanges that add the instantly in pnd.

In real world thats a crime because people loose money and the same law should apply here too.

we know why.

they profit from the scammers. they dont plan on stopping.

[3x2]

Every single day there is a scam coin, people should stop supporting these shit coins and let them die.

[joelpina]

Every single day there is a scam coin, people should stop supporting these shit coins and let them die.

Btctalk really needs to have notice displayed on red telling new comers to be aware of new coins and do their  due dilliegence.

Also boycott exchanges that suport them.

Will they though?

[cassius69]

Every single day there is a scam coin, people should stop supporting these shit coins and let them die.

Btctalk really needs to have notice displayed on red telling new comers to be aware of new coins and do their  due dilliegence.

Also boycott exchanges that suport them.

Will they though?

we dont need bct or bittrex to do anything.

we can just remind everyone of the dangers so they dont buy.

dmitriy was just banned from the trollbox on bittrex. dirty pricks 

[Dimitry]

So question people should start asking is that why bittrex is supporting these scams... if everything is true then they are knowingly hariming the community for their own short term gain... It will only change if people start to boycott the new shitcoins and exchanges that add the instantly in pnd.

In real world thats a crime because people loose money and the same law should apply here too.

Yes where to fill out those lawsuits? does anyone know that!?

[sdersdf2]

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?

Well, the risk of that approach is that every coin they list would be perceived as getting a "Bittrex seal of approval" -- they then become responsible or perceived as responsible for any unforseen/undiscovered scams/implosions in the coins they list. Just saying, dont think there are easy answers here. Ultimately, it's up to people to interrogate these devs and call them out in the threads, with the help of techies who can see through the BS and flyspeck things.

[cassius69]

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?

Well, the risk of that approach is that every coin they list would be perceived as getting a "Bittrex seal of approval" -- they then become responsible or perceived as responsible for any unforseen/undiscovered scams/implosions in the coins they list. Just saying, dont think there are easy answers here. Ultimately, it's up to people to interrogate these devs and call them out in the threads, with the help of techies who can see through the BS and flyspeck things.

basically this is true.

the community has to protect its own.

but dont forget that elitecoin added a new layer of deceit. that dev was smart enough to add the premine on a wallet upgrade.

he was prepared for a code check.

the scammers are getting smarter.

its better to assume most new coin devs are scamming. unless you know them personally they probably are.

warning new people is the only option this community has right now.

[sdersdf2]

Well, the risk of that approach is that every coin they list would be perceived as getting a "Bittrex seal of approval" -- they then become responsible or perceived as responsible for any unforseen/undiscovered scams/implosions in the coins they list. Just saying, dont think there are easy answers here. Ultimately, it's up to people to interrogate these devs and call them out in the threads, with the help of techies who can see through the BS and flyspeck things.

basically this is true.

the community has to protect its own.

but dont forget that elitecoin added a new layer of deceit. that dev was smart enough to add the premine on a wallet upgrade.

he was prepared for a code check.

the scammers are getting smarter.

its better to assume most new coin devs are scamming. unless you know them personally they probably are.

warning new people is the only option this community has right now.

You really nailed it here - the fact that it's basically becoming an arms race and the scams are evolving. Look how elaborate and extended the shocking SilkCoin scam was. No one can guarantee that any coin is scam free without a time-consuming, costly root canal and interrogation of the coin and its devs by a qualified techie without ulterior motives.

There are things to look for. I think a big thing to look for going forward is avoiding coins with anonymous devs. It doesn't offer 100% security, but it substantially reduces risk when someone with a real name and LinkedIn profile puts their real name and their reputation on the line. Those guys are much less likely to be scammers. Basically, scamming is widespread now because it's "cheap." But when the dev's name is attached to it, it becomes a lot more expensive.

[swainzag]

Why blame the exchange while people are dumb enough to buy it?  Yes, I think exchanges should do a better job at listing coins and not just take a bribe, but if people are blindly going to buy shit without even researching it then it really is their own damn fault.  At least IMO.

[cassius69]

Why blame the exchange while people are dumb enough to buy it?  Yes, I think exchanges should do a better job at listing coins and not just take a bribe, but if people are blindly going to buy shit without even researching it then it really is their own damn fault.  At least IMO.

there is no way to research a motherfucking scam.

got it? it cant be done.

what you did here is an old school fascist technique known as 'victim blaming.'

http://en.wikipedia.org/wiki/Victim_blaming

let me quote:

"Victim blaming occurs when the victim of a crime or any wrongful act is held entirely or partially responsible for the harm that befell them.

The study of victimology seeks to mitigate the perception of victims as responsible.[1] There is a greater tendency to blame victims of rape than victims of robbery in cases where victims and perpetrators know one another."

quit fucking blaming victims of crime because you want to protect a nearly dead system of 'quick coin listings' that is costing us as a community.

fuck protecting scammers. lets put them to the fire! lets hang the scoundrels.

stop saying that people can 'research' their way out of a scam where some dickhead changes the code and then quickly dumps 20 btc of coins that wasnt supposed to exist.

no one could have done research to stop that and no is to blame except the scammer and bittrex.

bittrex could have checks in place to stop this from happening. they could manually review a withdrawl of 20 btc and stop the fucking scammer and refund customers.

yes, they have the power to do this.

[swainzag]

Why blame the exchange while people are dumb enough to buy it?  Yes, I think exchanges should do a better job at listing coins and not just take a bribe, but if people are blindly going to buy shit without even researching it then it really is their own damn fault.  At least IMO.

there is no way to research a motherfucking scam.

got it? it cant be done.

what you did here is an old school fascist technique known as 'victim blaming.'

http://en.wikipedia.org/wiki/Victim_blaming

let me quote:

"Victim blaming occurs when the victim of a crime or any wrongful act is held entirely or partially responsible for the harm that befell them.

The study of victimology seeks to mitigate the perception of victims as responsible.[1] There is a greater tendency to blame victims of rape than victims of robbery in cases where victims and perpetrators know one another."

quit fucking blaming victims of crime because you want to protect a nearly dead system of 'quick coin listings' that is costing us as a community.

fuck protecting scammers. lets put them to the fire! lets hang the scoundrels.

stop saying that people can 'research' their way out of a scam where some dickhead changes the code and then quickly dumps 20 btc of coins that wasnt supposed to exist.

no one could have done research to stop that and no is to blame except the scammer and bittrex.

bittrex could have checks in place to stop this from happening. they could manually review a withdrawl of 20 btc and stop the fucking scammer and refund customers.

yes, they have the power to do this.

I am not for quick coin listings at all.  I have stated in past posts that I think there should be AT LEAST a 30 wait period for exchanges to even consider adding a new coin. 

It's the alt world where everyone is out to make a quick buck.  I know for a fact for a few BTC Bittrex will list any coin.  Is an exchange going to turn down a $1500 dollar bribe because the coin might be a scam?  In the real world business, sure, but in this wild west of the alt coin world, it's never going to happen.  You can yell at me and use the word fuck as many times as possible, but investors have to get smarter.  I have never see people throw money around in such a messy fashion as the alt coin world, it's insane.

You tell me there is no way to research a scam.  Why are people so willing to throw their money at shit they know nothing about?  People have thrown so much money at IPO's where there is no product up front, no wallet and no future.  But people are still willing to throw money at it.   If anyone is an exchange buying a coin they know NOTHING about it's their own damn fault they lost money. 

Even if you do look into a coin and it says no pre-mine, check the damn blockchain.  Oh look there was a GIANT pre-mine, let's not invest in this.

[cassius69]

Why blame the exchange while people are dumb enough to buy it?  Yes, I think exchanges should do a better job at listing coins and not just take a bribe, but if people are blindly going to buy shit without even researching it then it really is their own damn fault.  At least IMO.

there is no way to research a motherfucking scam.

got it? it cant be done.

what you did here is an old school fascist technique known as 'victim blaming.'

http://en.wikipedia.org/wiki/Victim_blaming

let me quote:

"Victim blaming occurs when the victim of a crime or any wrongful act is held entirely or partially responsible for the harm that befell them.

The study of victimology seeks to mitigate the perception of victims as responsible.[1] There is a greater tendency to blame victims of rape than victims of robbery in cases where victims and perpetrators know one another."

quit fucking blaming victims of crime because you want to protect a nearly dead system of 'quick coin listings' that is costing us as a community.

fuck protecting scammers. lets put them to the fire! lets hang the scoundrels.

stop saying that people can 'research' their way out of a scam where some dickhead changes the code and then quickly dumps 20 btc of coins that wasnt supposed to exist.

no one could have done research to stop that and no is to blame except the scammer and bittrex.

bittrex could have checks in place to stop this from happening. they could manually review a withdrawl of 20 btc and stop the fucking scammer and refund customers.

yes, they have the power to do this.

I am not for quick coin listings at all.  I have stated in past posts that I think there should be AT LEAST a 30 wait period for exchanges to even consider adding a new coin. 

It's the alt world where everyone is out to make a quick buck.  I know for a fact for a few BTC Bittrex will list any coin.  Is an exchange going to turn down a $1500 dollar bribe because the coin might be a scam?  In the real world business, sure, but in this wild west of the alt coin world, it's never going to happen.  You can yell at me and use the word fuck as many times as possible, but investors have to get smarter.  I have never see people throw money around in such a messy fashion as the alt coin world, it's insane.

You tell me there is no way to research a scam.  Why are people so willing to throw their money at shit they know nothing about?  People have thrown so much money at IPO's where there is no product up front, no wallet and no future.  But people are still willing to throw money at it.   If anyone is an exchange buying a coin they know NOTHING about it's their own damn fault they lost money. 

Even if you do look into a coin and it says no pre-mine, check the damn blockchain.  Oh look there was a GIANT pre-mine, let's not invest in this.

elitecoin added the hidden premine when they did a wallet upgrade.

there was no way to research this.

the only way to protect yourself is so not buy new coins.

frankly i personally will never buy a new altcoin again.

i think the whole gay 'going to da moon' shit is annoying and the tiny little pumps are embarasssing.

i made a mistake buying elitecoin and i lost all my money.

that said i clearly am not 100% responsible. the scammer is reponsible and so is the exchange.

since the exchange wont do anything i am boycotting their asses and warning others to do the same.

there are plenty of other people who feel the exact way after weeks of scams. bittrex has done a pretty good job of hiding the fact they have a $1500 listing fee. if true they are digging a hole deeper and deeper and they will soon be buried in it.

the only ones who respect their current business models are scammers.