[ANN][MID]MidasCoin|New Scrypt PoM|Backed Value|ATM card|Referral|NO IPO|UNIQUE

[DeezBTC]

i thought it was 6pm eastern time lol my b

[IMJim]

Just got into the IRC:-) 

[bobbles]

Just got into the IRC:-) 

Good deal me too!

[nicemycoin]

Link directly MidasCoin Pool   http://www.midaspool.com/ref/25
(use my ref,get additional at least 1% mining rewards,PM me when you start mining.)
I am the promotor of Chinese team also the only admin of the QQ group of the MidasCoin.you can trust me.
Chinese: https://bitcointalk.org/index.php?topic=763982.0    I made the Chinese translation too.

just get ready to   Midascoin!

[PCJargon]

for me this whole thing looks awfully like a SCAM and I'll make my point in this post because for some reason no one else has pointed out what seems obvious to me.

so... imagine you'd like to earn a lot of money and you are seeking an easiest way to do so. Which is...

convince everyone to point their miners at you, so that you mine your favorite scrypt coins.

As the point is about convincing, you certainly need to offer something that sounds really good, like debit cards, ATM cashouts, golden bars, 0 premine, and so on.

So as the points starts getting clear let me address some questions:
1. Why the only one centralized mining pool?
Because they get all the hashing power to earn some real money for themselves.

2. Why does it look so good?
To get you in!

3. Why use scrypt?
Because everyone has ASICS, and the total hashing power they can steal is higher.

4. Wait, but they said it is open-source!
Yes, here are two options, whether they never actually publish the code, or they publish another version that looks right but not the one actually working on their servers/

5. And so what's gonna happen?
You don't believe me because their offer looks really promising, you point your miners at their pool, they use the power to mine different scrypt coins, and they actually issue some fake MID coins that you can use in your account as you are mining. The MID gets to the real exchange, its price drops after a couple of days way below the price they pretend to pay you, so you start holding your MID coins (the USD equivalent values for your MID coins on your account page look very good you point even more miners at them). A few weeks pass, and you realize you want to get your money. And here the problem begins: they promise to issue a debit card but never do that. You wait some more time, and after a month or so you start realizing you were fooled. At that time the real MID price at the exchanges gets really low, and you can do nothing with your MIDs. Your mining power for this whole time resulted in someone else's Jaguar.

6. Someone pointed out that their company is registered one day before the forum posting. Why?
They had all the code ready in advance, the only bottleneck for starting that was the waiting for the company creation process.

7. They claim to issue Mastercard debit cards. They claim to have a huge funding. Any proofs?
No.

8. Why send spam to emails they got from crypto rush (read the thread)?
To get more people in.

9. What's the most clever part?
That you will realize that you are scammed after a month of giving out your hashing power (see 5).

This guy addresses exactly the same things I was thinking. Getting a random email about them, unknown source of their finding my address. This email also arrived like 24 hours before the release?

I googled them and whois'd the domain. They're in Rome, the registrar has a fake looking name. There's zero details about mastercard being involved. There is literally zero news about this currency other than one cut and paste news story on multiple sites, and their own created wiki site. Nothing said about this business/currency before a month ago.

If this was real, it'd be greater news worthy. They literally released everything fast enough to generate hype and prevent people from having the time to really look into what's actually going on.

[Yuzu]

for me this whole thing looks awfully like a SCAM and I'll make my point in this post because for some reason no one else has pointed out what seems obvious to me.

so... imagine you'd like to earn a lot of money and you are seeking an easiest way to do so. Which is...

convince everyone to point their miners at you, so that you mine your favorite scrypt coins.

As the point is about convincing, you certainly need to offer something that sounds really good, like debit cards, ATM cashouts, golden bars, 0 premine, and so on.

So as the points starts getting clear let me address some questions:
1. Why the only one centralized mining pool?
Because they get all the hashing power to earn some real money for themselves.

2. Why does it look so good?
To get you in!

3. Why use scrypt?
Because everyone has ASICS, and the total hashing power they can steal is higher.

4. Wait, but they said it is open-source!
Yes, here are two options, whether they never actually publish the code, or they publish another version that looks right but not the one actually working on their servers/

5. And so what's gonna happen?
You don't believe me because their offer looks really promising, you point your miners at their pool, they use the power to mine different scrypt coins, and they actually issue some fake MID coins that you can use in your account as you are mining. The MID gets to the real exchange, its price drops after a couple of days way below the price they pretend to pay you, so you start holding your MID coins (the USD equivalent values for your MID coins on your account page look very good you point even more miners at them). A few weeks pass, and you realize you want to get your money. And here the problem begins: they promise to issue a debit card but never do that. You wait some more time, and after a month or so you start realizing you were fooled. At that time the real MID price at the exchanges gets really low, and you can do nothing with your MIDs. Your mining power for this whole time resulted in someone else's Jaguar.

6. Someone pointed out that their company is registered one day before the forum posting. Why?
They had all the code ready in advance, the only bottleneck for starting that was the waiting for the company creation process.

7. They claim to issue Mastercard debit cards. They claim to have a huge funding. Any proofs?
No.

8. Why send spam to emails they got from crypto rush (read the thread)?
To get more people in.

9. What's the most clever part?
That you will realize that you are scammed after a month of giving out your hashing power (see 5).

This guy addresses exactly the same things I was thinking. Getting a random email about them, unknown source of their finding my address. This email also arrived like 24 hours before the release?

I googled them and whois'd the domain. They're in Rome, the registrar has a fake looking name. There's zero details about mastercard being involved. There is literally zero news about this currency other than one cut and paste news story on multiple sites, and their own created wiki site. Nothing said about this business/currency before a month ago.

If this was real, it'd be greater news worthy. They literally released everything fast enough to generate hype and prevent people from having the time to really look into what's actually going on.

And they said they'd get back to me PRIORITY and let me know where they got my email address.  I'm still waiting.

[PCJargon]

[SecondsOld]

Lots of hash being accepted, but not a single block found?

[Lord of the Rings]

 

[Lord of the Rings]

Where wallet? ?

[cakir]

it's about to be 9 minutes and any block found yet.
perfect launch!

[exoton]

I want to mine with nicehash however nicehash is telling me that my order is over size even though im mining on the big asics stratum

[PCJargon]

This isn't decentralized, this isn't what bitcoin and others were made for. They have all of the mining, they can cheat all they want. They can even just produce the coins and info out of thin air. Ohh, you mined for an hour at 1Ghash? Here's 20 coins. While your hashing power is actually mining Litecoin that goes directly into their pocket.

They're probably gonna make a couple thousand litecoin a day off you fools.

[cakir]

I want to mine with nicehash however nicehash is telling me that my order is over size even though im mining on the big asics stratum

If you are renting from Nicehash, you should use the dedicated stratum for Nicehash users that can handle massive hashpower: (other stratum will refuse connection from Nicehash):

stratum+tcp://stratumnice.midaspool.com:3333

http://www.midaspool.com/index.php?page=gettingstarted

[mega]

Cant mine using nicehash as well:

Got this error:
"Disconnected. Remote pool extranonce2 size too small."

It means that you should use another pool, because this one cannot be compatible with NiceHash, because there is no enough room for NiceHash to delegate work provided by remote pool. Usual, 95% of pools use extranonce2 size 4, we also permit 3, but if it is 2 or 1, we do not permit that - too small extranonce2 would cause quick nonce exhaustion on miners thus making them force to start sending duplicates.

The only problem is there is only one pool...

[CryptoJohn]

at this point the hash rate / diff is growing so quickly your better pointing your miners back @ nicehash. Typical launch BS

will crypto ever change?

[valkir]

21 gh!  Big start!

[exoton]

Cant mine using nicehash as well:

Got this error:
"Disconnected. Remote pool extranonce2 size too small."

It means that you should use another pool, because this one cannot be compatible with NiceHash, because there is no enough room for NiceHash to delegate work provided by remote pool. Usual, 95% of pools use extranonce2 size 4, we also permit 3, but if it is 2 or 1, we do not permit that - too small extranonce2 would cause quick nonce exhaustion on miners thus making them force to start sending duplicates.

The only problem is there is only one pool...

great ... i asked yesterday and was told nicehash is compatible with the pool by dev/threadmanager , I was mining on the stratum+tcp://stratumbig.midaspool.com:3333 stratum

so this probably means I will need to rent my gh at betarigs which judging from the aviable rigs many people did
dev please check this and give a clear answer if i can use nicehash once it is fixed / relaunched

if it doesnt work in some time i suggest relaunch in 24 h

[CryptoJohn]

This isn't decentralized, this isn't what bitcoin and others were made for. They have all of the mining, they can cheat all they want. They can even just produce the coins and info out of thin air. Ohh, you mined for an hour at 1Ghash? Here's 20 coins. While your hashing power is actually mining Litecoin that goes directly into their pocket.

They're probably gonna make a couple thousand litecoin a day off you fools.

Typically I would tell u to knock off the conspiracy nonsense but you may actually be on to something.

1 pool(midas pool) + 1 exchange(midas exchange) = no verifiable value

[SamWalters]

this whole industry is driven in the same fashion. Think darkcoin didn't have their own miners ready? They didnt even correctly launch the windows wallets so people were stuck clueless while darkcoin team was mining thousands of darkcoin. No Premine? think again. lol