Suggestions to prevent scammers launch new shitcoins

[MajidBC]

First of all: newbie accounts created only to start a coin should be banned, unless they are known alt of a trusted member.

Beyond that, I think no rules should be enforced, only we educate people for them to know the risks they are taking(scams - alt accounts - etc), and make maybe a group of experienced users to review the coins. As long the group didn't get corrupted, it will be worth.

Who should confirm that a new account is an alt of a trusted person? Forum Mods?

Giving some details about "a group of experienced users" would be nice. Who can choose them? I added your suggestion to the OP under "Certification Group" case.

[MajidBC]

best thing to do is make it clear to new comers that their time is going to be wasted chasing get rich quick schemes.  They need to learn what they should invest in what they shouldn't or their will be new waves of people who fall victim to the scams.  This is a very important issue and I'm going to get following along and adding my thoughts and opinions.  The best thing is to cut off the flow of people participating in the pump and dumps to stifle such activity from taking place.  Then there will be no incentive to create so many worthless coins IMO.

I updated the OP. Your first idea can be listed (almost) under "Crypto Association/Foundation/Group" and the second one under Market Manipulation. Looking forward to see your new ideas.

[MajidBC]

Guys, I've updated the OP. I like to know your feedback.

[anderl]

Market needs a lot more coins, why stiffle innovation?

[Lauda]

Isn't it simple? You refresh the page, and see 'Sorry but this part of the forum has been closed, please use 'insertforumname' for altcoin related discussions'.

[buckminer]

Anonymity is suspect in any market, not just crypto. Stand behind your product. If people don't have a reputation to protect, or a fear of being penalized by their actions, and simply reap the rewards from their scams over and over, there is no deterrent to the behavior. And then mining and buying their scam coins encourages them to continue to make more of them. The problem is obvious, the solution perhaps not so. I used to mine new coins but lately with all the big x11 pump and dump shit coins I am sticking with the ones with a track record. My little gpu is loving merge-mining Blakecoin and Dirac right now. A way to vet the Devs would be a good start but it is the wild west out there, and isn't that part of what makes this crypto-adventure fun?

[MajidBC]

Isn't it simple? You refresh the page, and see 'Sorry but this part of the forum has been closed, please use 'insertforumname' for altcoin related discussions'.

That's possible. We'll see how much this forum is tolerable to critics and if any of the moderators is related to the scams.

[MajidBC]

Anonymity is suspect in any market, not just crypto. Stand behind your product. If people don't have a reputation to protect, or a fear of being penalized by their actions, and simply reap the rewards from their scams over and over, there is no deterrent to the behavior. And then mining and buying their scam coins encourages them to continue to make more of them. The problem is obvious, the solution perhaps not so. I used to mine new coins but lately with all the big x11 pump and dump shit coins I am sticking with the ones with a track record. My little gpu is loving merge-mining Blakecoin and Dirac right now. A way to vet the Devs would be a good start but it is the wild west out there, and isn't that part of what makes this crypto-adventure fun?

I like this one: "Stand behind your product." I added it to the OP.

[giveBTCpls]

This is the never ending problem with an unregulate free market. If you regulate the market, you will get hate because you are quote limiting odds of something good popping out.
If you do not regulate the market, you risk being flooded with shit. Its a double sided sworded.

[arbitrage001]

The best way to avoid pump and dump coin is never participate in any.

[Lucky Cris]

It's time for the community to find a way to prevent scammers launch new shitcoins. Scammers launch a new coin, sell the premine or put something in the code, get rich, then leave the coin, the day after, they launch a new shitcoin and the process goes on.

III. Other Topics:

1- Do you think some scam devs are related to exchanges and hashrate rental websites?

Hell yes! And not just related to exchanges and hashrate rental websites, but they're in bed with pool operators as well. Take PPL for example. I tried setting up a P2Pool for the coin but I couldn't because the hex values I needed were missing from the source code:

Is there a reason why the hex value for the main network is missing from source (main.cpp)?

TripleThreat... can you respond to my question before logging off today? Thank you.

Ill have to get PeoplesCurrency to answer that question as he is the programmer , he has been busy with the Electrum wallet , but will be talking to him in a while! and Good Morning to all !!!

Could you go into more detail what this means.

The pchMessageStart hex string is missing from /src/main.ccp. That's a tidbit of info REQUIRED to host pools, it identifies the network. This is suspect to me because look at who has p2pool nodes:

peer pool 1: http://peer1.peoplescurrency.cf:9696/
peer pool 2: http://peer2.peoplescurrency.cf:9696/

Makes sense?

Anyways, I'm starting up several p2pool nodes and was about to bring one online for this coin until I realized the source code I needed was redacted from the file. P2pool strengthens a coin's network but seems the dev must not think so. But this is supposed to be the the Peoples Currency, right? Yet the people can only join selective pools.

This one I won't live down. But if this isn't resolved... best believe I will blast it.

Naturally this was never addressed, but I couldn't help - and still can't help but wonder... how the hell were the traditional pools able to get set up without knowing those values? Of course I'm no pro with this, I just learned how to create the network.py files for coins that didn't have them in the github and was about to launch my site. Unfortunately my server started misbehaving shortly after this; Now I'm not accusing anyone (I could've very well did it myself somehow), but because of this I'm cautious of the legitimacy of some of the traditional pools.

That said... I think you should consider that there are some pools that are also part of the scam ring.

[Lucky Cris]

most guys in the altcoin scene can tell if a coin is legit or not.. they don't care though if they can make money off them.
and we can tell it's the majority doing this not by my experience of these guys trying to defend their behavior and admitting to me
but by watching how the scene has been dying off.

Ya start a separate topic to discuss how outraged you are at scam coins lol
or...
go to the ANN topics and speak up for crying out loud.. but do it politely of course 

And I couldn't agree with you more. Wasn't there a topic about this a while ago...something about trying to get a group together to do just this, call out scam coins in their ANN threads? Whatever happened with that? Hell I wanted in on that shit.

[MajidBC]

It's time for the community to find a way to prevent scammers launch new shitcoins. Scammers launch a new coin, sell the premine or put something in the code, get rich, then leave the coin, the day after, they launch a new shitcoin and the process goes on.

III. Other Topics:

1- Do you think some scam devs are related to exchanges and hashrate rental websites?

Hell yes! And not just related to exchanges and hashrate rental websites, but they're in bed with pool operators as well. Take PPL for example. I tried setting up a P2Pool for the coin but I couldn't because the hex values I needed were missing from the source code:

Is there a reason why the hex value for the main network is missing from source (main.cpp)?

TripleThreat... can you respond to my question before logging off today? Thank you.

Ill have to get PeoplesCurrency to answer that question as he is the programmer , he has been busy with the Electrum wallet , but will be talking to him in a while! and Good Morning to all !!!

Could you go into more detail what this means.

The pchMessageStart hex string is missing from /src/main.ccp. That's a tidbit of info REQUIRED to host pools, it identifies the network. This is suspect to me because look at who has p2pool nodes:

peer pool 1: http://peer1.peoplescurrency.cf:9696/
peer pool 2: http://peer2.peoplescurrency.cf:9696/

Makes sense?

Anyways, I'm starting up several p2pool nodes and was about to bring one online for this coin until I realized the source code I needed was redacted from the file. P2pool strengthens a coin's network but seems the dev must not think so. But this is supposed to be the the Peoples Currency, right? Yet the people can only join selective pools.

This one I won't live down. But if this isn't resolved... best believe I will blast it.

Naturally this was never addressed, but I couldn't help - and still can't help but wonder... how the hell were the traditional pools able to get set up without knowing those values? Of course I'm no pro with this, I just learned how to create the network.py files for coins that didn't have them in the github and was about to launch my site. Unfortunately my server started misbehaving shortly after this; Now I'm not accusing anyone (I could've very well did it myself somehow), but because of this I'm cautious of the legitimacy of some of the traditional pools.

That said... I think you should consider that there are some pools that are also part of the scam ring.

This is so disappointing. Do you have any solution to suggest about pool operators? It seems a good clue to add pool operators to that sentence in the OP.

EDIT: Spreadcoin dev defended his coin here:
https://bitcointalk.org/index.php?topic=726610.msg8312130#msg8312130

[Lucky Cris]

This is so disappointing. Do you have any solution to suggest about pool operators? It seems a good clue to add pool operators to that sentence in the OP.

It is, isn't it. I wish I had a solution but I don't. Unfortunately pools aren't allowed to advertise in ANN threads anymore, so there's really no way to know other than to check the source code for specific values. If they're missing, then you can only assume that the pools listed in the ANN post has some inside dealing with the coin dev; they couldn't bring their pool online otherwise.

[Lucky Cris]

This is so disappointing. Do you have any solution to suggest about pool operators? It seems a good clue to add pool operators to that sentence in the OP.

It is, isn't it. I wish I had a solution but I don't. Unfortunately pools aren't allowed to advertise in ANN threads anymore, so there's really no way to know other than to check the source code for specific values. If they're missing, then you can only assume that the pools listed in the ANN post has some inside dealing with the coin dev; they couldn't bring their pool online otherwise.

Of course, we can always band together and do stuff like this:

We need more miners of this coin. It is a good coin: no premine, fair launch, still solo-minable by wallet.
Would be nice if some pool (or the Dev) would be able to adapt some miner code in order for it to be minable with pools. It is X11 with an adaption in the timestamp code: 64 bit instead of 32 bit. Any poolowner around that has the skills to work on this?

Not possible. The hex values needed to identify the network is missing from the source code: SCAM COIN

^ obvious shit/scam coin called Spreadcoin or something... I couldn't resist, lol. It took me less than 2 minutes to navigate over to github and peek into the code.

[MajidBC]

This is so disappointing. Do you have any solution to suggest about pool operators? It seems a good clue to add pool operators to that sentence in the OP.

It is, isn't it. I wish I had a solution but I don't. Unfortunately pools aren't allowed to advertise in ANN threads anymore, so there's really no way to know other than to check the source code for specific values. If they're missing, then you can only assume that the pools listed in the ANN post has some inside dealing with the coin dev; they couldn't bring their pool online otherwise.

I added your post to the OP, so other people express their suspicious experience with pools here.

[Lucky Cris]

This is so disappointing. Do you have any solution to suggest about pool operators? It seems a good clue to add pool operators to that sentence in the OP.

It is, isn't it. I wish I had a solution but I don't. Unfortunately pools aren't allowed to advertise in ANN threads anymore, so there's really no way to know other than to check the source code for specific values. If they're missing, then you can only assume that the pools listed in the ANN post has some inside dealing with the coin dev; they couldn't bring their pool online otherwise.

I added your post to the OP, so other people express their suspicious experience with pools here.

Kewl hill of beans. Are you going to eventually put together a list of the exchanges/hashrate rental sites/pools suspected as being part of the scam coin ring? That's a good idea I think.   

[MajidBC]

...
Of course, we can always band together and do stuff like this:
...

What do you think about solutions no. 2 and no. 5 on the Solutions List?

[MajidBC]

This is so disappointing. Do you have any solution to suggest about pool operators? It seems a good clue to add pool operators to that sentence in the OP.

It is, isn't it. I wish I had a solution but I don't. Unfortunately pools aren't allowed to advertise in ANN threads anymore, so there's really no way to know other than to check the source code for specific values. If they're missing, then you can only assume that the pools listed in the ANN post has some inside dealing with the coin dev; they couldn't bring their pool online otherwise.

I added your post to the OP, so other people express their suspicious experience with pools here.

Kewl hill of beans. Are you going to eventually put together a list of the exchanges/hashrate rental sites/pools suspected as being part of the scam coin ring? That's a good idea I think.   

Certainly I will do that. Waiting for more cases to find, then I will add a list of suspicious/scammer exchanges/hashrate rental sites/pools to the OP.

[Litesire]

My bet is Guldencoin being the surprise package by the end of 2014... you should see the updates coming for it and marketcap is above 120 still. I will put my cock on a block and say top 100 by December and top 50 end of next year.
The problem is people are looking at making quick money and losing big time. The good coins will still come out on top even if they trading at under 1 btc volume today.