Unveiling the truth over the major Monero scam

[othe]

Why you people even argue anymore. Monero was a scam. Period.

And then they tried to accuse other cryptocurrencies of being a scam .. and it blew up in their face.
Somewhere there is a lesson to be learned for sure.

:O

Actually nothing blew up, except your stupid lies.

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[smooth]

Why you people even argue anymore. Monero was a scam. Period.

Both your English language skills and logic are laughable. Keep smoking your LTC drugs.

Because sigspam

[smoothie]

Why you people even argue anymore. Monero was a scam. Period.

Just because you or someone else says something...does not make it true.

Provide facts and not half truths as with the OP of this thread and Dash supporters.

[Blawpaw]

the hell.... Im holding some... I just hope they can go up at least 50%... What do you think? so you think the price will go even lower?

[MasterMined710]

some more monero launch info....

I'm loving these last few pages. Vitalik is finding out that anybody who dares speak a negative word about Monero gets immediately flamed by all the Monero shills and trolls.

Two points:

a) It's becoming obvious that the Monero trolls live in a glass house. Monero had its own issuance problems, with one guy receiving between 50% and 90% of all the coins in the first three months. Is it the current Monero team's fault? No, probably not. They inherited the broken miner and fixed it as soon as they were able. Did it ultimately affect the early distribution of the coin? Yes.

This does not bother me personally. Mistakes happen, and as long as they are corrected as quickly as possible, I'm fine with it. But by the standards that Icebreaker, AdamWhite, TheDasher, and others pro-Monero trolls use, then Monero is a scam coin. These gentlemen (or ladies) believe that Dash is a scam because of an "unfair" and "unequal" initial distribution. If that's the definition of "scam," then Monero is a scam as well.

b) The trolling is spreading, and it's severely discrediting Monero. I realize that the Monero community has no control over what these trolls do in their name, but people outside of Dash are now being personally attacked by trolls who purport to call themselves fans of Monero. I think this is a big mistake--it can only hurt Monero in the long run.

[bigfryguy]

sure monero has one of the crappiest distribution models out there....  that doesnt mean it is a scam.
just means its not worth very much.

[MasterMined710]

Why you people even argue anymore. Monero was a scam. Period.

well we have to keep this post bumped so everyone will know "Monero was a scam. Period."

we could not do it without all the easily manipulated emotional monero trolls bumping it for us, thanks guys. can i get another free bump please?
cripplemine 

[smooth]

some more monero launch info....

Two points:

a) It's becoming obvious that the Monero trolls live in a glass house. Monero had its own issuance problems, with one guy receiving between 50% and 90% of all the coins in the first three months. Is it the current Monero team's fault? No, probably not. They inherited the broken miner and fixed it as soon as they were able. Did it ultimately affect the early distribution of the coin? Yes.

Let's not let facts get in the way:

By the time I got into it, developer "NoodleDoodle" (hey, this is crypto, people can pick whatever names they want -- Satoshi Nakamoto?) had already untwisted the first "de-optimization" with the AES encryption key.

By the 14th of May, we were 45% of the total hashing power on the coin. .. I think we exceeded 60% of the net hash of the coin at a few points

In the end, our game continued into July -- almost two months

We spent over a quarter of a million dollars renting cloud compute time

I don't personally own any, nor do I hold any Bitcoin - I mine and sell for the most part, to minimize my risk exposure.

Summary:

1. NoodleDoodle's commit was May 7, so the start of dga's mining was after May 7, or 19 days after launch. We know his hash rate reached 4045% by May 14, or 26 days after launch. i.e. during most of the first month he wasn't mining at all.

2. Clearly his hash rate was below 50% for much of the time and only rarely (and not even with certainty) above 60%. There is no evidence it ever reached anything close to 90%, and certainly it wasn't close to that for any consistent period.

3. "Almost" two months, not three months.

4. He kept none of it.

This allows us to narrow down the maximum amount of coins mined by dga and his backers pretty closely:

Months 2-3 total coins mined was 1.37 million. Their likely overall share of roughly 50% makes that 685k. It could have been a little higher but we know from the above quote that they mined for less than two months so this seems a reasonable estimate. Which comes to right around 6.85% of the current supply.

If anyone thinks that a group of large miners and smart coders spending >$250K (plus a lot of coding work) to mine and sell 6.85% of the current supply during the second and third months of a coin launch is a disaster, then yes you should stay away from Monero.

[smoothie]

some more monero launch info....

Two points:

a) It's becoming obvious that the Monero trolls live in a glass house. Monero had its own issuance problems, with one guy receiving between 50% and 90% of all the coins in the first three months. Is it the current Monero team's fault? No, probably not. They inherited the broken miner and fixed it as soon as they were able. Did it ultimately affect the early distribution of the coin? Yes.

Let's not let facts get in the way:

By the time I got into it, developer "NoodleDoodle" (hey, this is crypto, people can pick whatever names they want -- Satoshi Nakamoto?) had already untwisted the first "de-optimization" with the AES encryption key.

By the 14th of May, we were 45% of the total hashing power on the coin. .. I think we exceeded 60% of the net hash of the coin at a few points

In the end, our game continued into July -- almost two months

We spent over a quarter of a million dollars renting cloud compute time

I don't personally own any, nor do I hold any Bitcoin - I mine and sell for the most part, to minimize my risk exposure.

Summary:

1. NoodleDoodle's commit was May 7, so the start of dga's mining was after May 7, or 19 days after launch. We know his hash rate reached 40% by May 14, or 26 days after launch. i.e. during most of the first month he wasn't mining at all.

2. Clearly his hash rate was below 50% for much of the time and only rarely (and not even with certainty) above 60%. There is no evidence it ever reached anything close to 90%, and certainly it wasn't close to that for any consistent period.

3. "Almost" two months, not three months.

4. He kept none of it.

This allows us to narrow down the maximum amount of coins mined by dga and his backers pretty closely:

Months 2-3 total coins mined was 1.37 million. Their likely overall share of roughly 50% makes that 685k. It could have been a little higher but we know from the above quote that they mined for less than two months so this seems a reasonable estimate. Which comes to right around 6.85% of the current supply.

If anyone thinks that a group of large miners and smart coders spending >$250K (plus a lot of coding work) to mine and sell 6.85% of the current supply during the second and third months of a coin launch is a disaster, then yes you should stay away from Monero.

~2 months (XMR "cripple mine" ~7% of the current supply + spend $250k in mining costs)

vs

1-2 days (DASH to instamine 33% of the total current Dash supply + ~$1000 in cloud mining etc for 2 days)

  Yes Monero is such a "scam".  

[bigfryguy]

If all the evidence, or even most of the evidence in this thread is true, I would hope that we can all just let Monero die.....
the hypocrisy and shadyness of the entire project is just to much, and lets face it, the altcoin world and bitcointalk would be a much better place without it.

unless you like soap operas that is.

[TooDumbForBitcoin]

If all the evidence, or even most of the evidence in this thread is true, I would hope that we can all just let Monero die.....
the hypocrisy and shadyness of the entire project is just to much, and lets face it, the altcoin world and bitcointalk would be a much better place without it.

Uness you like soap operas decentralized anonymous transactions, an absence of dev-cult, and a fair distribution, that is.

FTFY

[othe]

If all the evidence, or even most of the evidence in this thread is true, I would hope that we can all just let Monero die.....
the hypocrisy and shadyness of the entire project is just to much, and lets face it, the altcoin world and bitcointalk would be a much better place without it.

unless you like soap operas that is.

Hello VANILLACOIN SCAMMER.

The only thing this thread proofed is, that we pissed off a lot of scammers on this forum, i like that.

[MasterMined710]

~2 months (XMR "cripple mine" ~7% of the current supply + spend $250k in mining costs)

vs

1-2 days (DASH to instamine 33% of the total current Dash supply + ~$1000 in cloud mining etc for 2 days)

  Yes Monero is such a "scam".  

well at least you admit the monero 7% cripplemine scam. DASH had a 10% instamine distribution bug but it turned out to be a feature.

to try and minimize the cripplemine by using "current coin supply" is scammy and dishonest considering the highly hype inflationary monero emission curve where half the coins have already been mined in less than a year and a half, now that's what i call a instamine.
if it wasn't for the DASH instamine bug then there would only be like 4 million DASH right now compared to the current 10 million plus monero instamine.
and monero was launched months after DASH!

[Quicken]

Clinging to the idea that a year and a half is instant, or in any way comparable to a day and half, is just crazy. Seek help.

[Jason.W]

For the health of everyone still reading these threads and are scratching their heads, I'd like to share with you all a hopefully helpful reminder: http://pastebin.com/irj4Fyd5

All the best.

[othe]

~2 months (XMR "cripple mine" ~7% of the current supply + spend $250k in mining costs)

vs

1-2 days (DASH to instamine 33% of the total current Dash supply + ~$1000 in cloud mining etc for 2 days)

  Yes Monero is such a "scam".  

well at least you admit the monero 7% cripplemine scam. DASH had a 10% instamine distribution bug but it turned out to be a feature.

to try and minimize the cripplemine by using "current coin supply" is scammy and dishonest considering the highly hype inflationary monero emission curve where half the coins have already been mined in less than a year and a half, now that's what i call a instamine.
if it wasn't for the DASH instamine bug then there would only be like 4 million DASH right now compared to the current 10 million plus monero instamine.
and monero was launched months after DASH!

OR HAI SCAMMER, you have been caught LYING AGAIN in the DASHTHREAD.

Is this coin absolutely and fully anonymous ? which one is best ? Monero or Dash ? what are the advantages and disadvantages of each one ?

As far as I can tell, DASH has less anonymity than Monero because DASH mixes in masternodes.

if nobody can deanonymize DASH what difference does it make? that's like entering a tank in a NASCAR race and thinking it's going to win because the tank is more resistant to crashes. the trade off is a non legacy compliant unscalable already bloated blockchain, the little extra anon (pre evolution) is not worth the huge trade off. plus the lack of any real anonymity has not hurt bitcoin's market-cap as of yet.

As long as the mixing isn't decentralized at protocol level (as promised), this will be the case.

by that strict interpretation aren't all cryptocoins centralized?
if dash was centralized one person could deanonymize dash or push a button and shut it down, that's not the case.

On the other hand, DASH offers way more than only anonymity and has at the moment a better exposure. 
So I decided to invest in both and watch it play out for the moment.

the market agrees. i expect monero to keep getting pushed down until a year from now it will be lucky to be in the top 20.
if a solid zerocash implementation is released then it's lights out for monero/cryptonote. just ask fluffypony, he'll tell you that and he is fully expecting it happen at some point.

monero just has too many issues and is way to risky for me to invest in. i just picked up two new masternodes and did not even consider monero, ethereum looks pretty interesting though so i may diversify a bit into that.

Mastermined is spreading lies again with out of context screenshots, nice job, i hope the other dashers are proud to have someone like you, clearly shows what the dash community is about.
You think you are good at twisting words, but you are just a miserably little lying scumbag. Oh so great to even use a 241 day old discussion you started with spreading shit on reddit, you sir are a true internet hero and the more you speak the more shady looks all this dash stuff, so let´s speak a bit more here :-)

Here´s the full text, everyone can read it themselves here: https://m.reddit.com/r/Bitcoin/comments/301r4e/crypto_primitive_shorter_than_current_monero_ring/
"if a solid zerocash implementation is released then it's lights out for monero/cryptonote. just ask fluffypony, he'll tell you that and he is fully expecting it happen at some point. " - in fact he said the opposite.




Here are some more lies from your fellow community member the MasterMined710 Scammer.

...

lastly, monero was launched about 3 months after DASH yet it already has almost twice the amount of coins mined. seems like a highly inflationary ongoing instamine that gives an unfair advantage to those early miners.

my conclusion, there has never been a coin with a perfect launch including bitcoin.

There's perfect, there's scam, and everything in between. Monero is a helluva lot closer to perfect than DASH/Darkcoin/Xcoin could every hope to be.

You can look on the block explorer and see the amount of coins emitted at any block. For instance, by block 20000 ( http://moneroblocks.eu/search/20000 ), mined on May 1st, the total number of emitted coins was about 350k or about 3.5% of the total coins that exist today. So, 3.5% of the coins that exist were mined during the period of the crippled miner when a few folks (such as DGA, who is not a member of the development team) were mining with optimized miners. Around May 1st the optimized miner was made public by NoodleDoodle and other members of the actual dev-team that took over the coin from TFT.

Compare that with DASH, where around 1/3 of the coins that exist today were mined in the first 48 hours or so, and I think it's pretty plain to see which coin had the more fair launch. (This is not to mention the fact that there was zero windows clients and a promise to relaunch made by the Xcoin developer, while hundreds of AWS and DO nodes mined away). 33% of available coins mined in 2 days, or 3% of available coins mined in a few weeks - I don't think it's much of a comparison.

(This is also not to mention the fact that DASH/Darkcoin/Xcoin switched to a quasi-PoS system after their botched launch, allowing large holders to just sit on their coins and grow them, which is obviously not the case for Monero, which is pure PoW, where owning a chunk of coin doesn't allow one to do anything but dump it on an exchange.)

Top post jwinterm. Facts, not FUD.

Thank you for digging this post up. Mastermined can now come back and try to spin things to death about the "scam" that has happened with Monero when clearly Dash is no saint and in fact likely is the equivalent of the devil's favorite demon coin with shady launches, broken PoW algorithm, rebranding to distance itself from its shady past, and the addition of quasi-PoS system etc..

Why you all compare monero to dash? This tread is about monero scam.

Because this thread is done by the dashtarded scam army who have exposed multiple times of scamming and lying here, for example:

Vitalik just posted in /r/ethereum --

Guess who's now in the firing line now for being low tech' 



(Thats what you get for calling Monero a 'real premine sacm').





Never mind. It's all in a good cause (we hope). Mudpies on stun and chickenwire at the ready.

Hey fucktard, why don´t you show the world the whole discussion? Because it doesn´t fit your fucktarded dash scam propaganda?




Or what about this one?




Dashtards, even too stupid to lie; unbelieveable....

Eat shit scumbags.

7) There is no centralized point of failure, unlike in DASH.

and what is the centralized point of failure in DASH?
surly you are not talking about the decentralized masternode network.

Evan Duffield. https://en.wikipedia.org/wiki/Bus_factor

[MasterMined710]

Clinging to the idea that a year and a half is instant, or in any way comparable to a day and half, is just crazy. Seek help.

around half the monero coin supply has already been mined in a very short period of time compared to btc, ltc, DASH, Etc, etc, etc. you can call it a instamine or a fastmine or whatever, just don't call it fair distribution.

[farfiman]

Clinging to the idea that a year and a half is instant, or in any way comparable to a day and half, is just crazy. Seek help.

around half the monero coin supply has already been mined in a very short period of time compared to btc, ltc, DASH, Etc, etc, etc. you can call it a instamine or a fastmine or whatever, just don't call it fair distribution.

One big difference- "the community" of dash voted to not relaunch a coin with some starting "issues" and then voted to cut supply to 25% what it was first launched with.  The monero community decide to go the opposite path- to not break the social contract and not change emmision.

[MasterMined710]

wall of unreadable spam

post a legitimate question or accusation and i will respond. i won't respond to an emotional wall of spam.
remember, the topic of this thread is the monero scam not DASH. try to stay on topic or i will have to report you for spamming off topic deflective nonsense.

[Quicken]

MasterMined710. Please explain exactly why you think a smooth, published and unchanged, emission curve is unfair. It certainly hasn't enriched a few early adopters markedly.