Jasinlee - one of XC's "Team Members" is a master fraudster

[barwizi]

Whoa there!!!!

Can someone please link me to the "proof" that Jasin' been naughty? I find it hard to believe.

And I can tell you without a single shred of doubt that the Cachecoin dev is not in anyway linked with any shady shit.

[lbr]

Whoa there!!!!

Can someone please link me to the "proof" that Jasin' been naughty? I find it hard to believe.

And I can tell you without a single shred of doubt that the Cachecoin dev is not in anyway linked with any shady shit.

Very naughty ; )

https://litecointalk.org/index.php?topic=2702.0
No proof there, tho.
But some things do look.. u know.. weird ; )

Fib ASIC marketing was nice - aim at forum members, LTC defense blah-blah, 'trusted' distribution.
Most of concerns raised were flagged as 'trolling'/'FUD'/'shill attacks' and sometimes post deleted.
Also - 'we are not forcing you to buy our Fib ASIC' type answer was used frequently to answer some of the concerns ; )

Litecointalk forum moderators were made involved by making some of them 'trusted hosts'. And ofc it is very hard to separate your private interest from public forum moderation. This resulted in biased(imo) mods actions in Fib ASIC threads and other ASIC manufacturers threads. As in - in Fib thread mods were making warning and deleting(?) 'concerns' as fud/trolling and posting similar 'concerns' in other threads by themselves ; ) To confirm read all posts of mods in all AISC threads.. (yeah it's very annoying, but funny).

CACHE.. Jasin started accepting CacheCoin as a payment for Fib ASIC at a fixed price, higher than on the exchanges. Some members on bitcointalk and litecointalk had "ASIC coin" in their signatures. CacheCoin exchange rate went up. If I'm not mistaken litecontalk moderator Sy had huge ammount of Cache(mined?) so he bought a lot of Fib ASICs. After Fib stopped accepting Cache exchange rate plummeted down.
Some ppl claim that this was an intentional pump&dump of Cache and that the developer of Cache was involved. Cache dev(kalgecin) and jasin apparently were working together(?) on some Cache features and jasin occasinally made claims that he is very interested in Cache(and XC) and has some plans for it.
At the time, the proof from jasin that is was not pump&dump I've read was that he has not sold any Cache received for the ASICs. However to gain profit from this possible p&d you don't necessarily need to sell aquired Cache, you just need to make enough profit on Cache rate fluctuation you knew in advance and number of ASICs you can buy with Cache was intentionally limited. Also there were some allegations(with proof) that jasin wife sold some Cache prior the pump.

Also Fib ASICs were not sold as actual asics instead they were sold as hardware shares also Fib profit shares were sold.
Exchange was promised for those to be implemented. It was never completed cause.. jasin said dev run away. There is also no proof that it ever was developed. Also defense line - 'we make ASICs no websites' was used to 'calm down' ppl concerned that Fib site is buggy and exchange is not completed yet ; ) And ofc that ppl are trolling and are shills of the competitors and that they are not developers and don't understand how much effort it takes to make and test a web site ; )

What's funny is that long before Fib began sales there was a talk that practice of giving money to 'trusted' ppl should be stopped. mmitech(litecointalk) argued that there are enough cases when 'trusted' ppl collected vast ammounts of BTC and dissapeared after. At the time Jasin said that comparison is wrong, cause he have not collected any money yet ; ) Well.. now he has ; )

After 'fud' of corrupted litecointalk mods, admins and LiteCoin association spread, TheMage(litecointalk mod) organised a meeting with Jasin where some 'trusted' ppl representing investors were allowed to ask Jasin some questions. Some of the info was not made public, cause Jasin said it is a part of NDA between him and ASIC chip designers. However, total ammount of planned ASIC chips was made public - ppl counted their orders and realised that planned ammount is much(?) less.
Also coversation revealed the fact that Fib is still on ASIC prototyping/simulation stage. This is odd cause when KNC announced their scrypt ASIC, Fib raised  performance, claiming that they have been designing ASIC for years and that at first they revealed well below performance number not to spook competitors. Again concerns were either marked as trolling/fud and partially answered with 'we have genious salsa dev'.
Also Jasin claimed that ASIC design company(or fab?!) is not aware that they are designing ASIC to be used for litecoin mining and that it was deliberately made secret, because they hate everything about the cryptos and won't do the job if they knew.

[lbr]

As for XC.. I don't even know what that is.
Whats is clear.. some ppl think that.. Jasin smells.. and so everything connected to him smells too.

[barwizi]

Whoa there!!!!

Can someone please link me to the "proof" that Jasin' been naughty? I find it hard to believe.

And I can tell you without a single shred of doubt that the Cachecoin dev is not in anyway linked with any shady shit.

Very naughty ; )

https://litecointalk.org/index.php?topic=2702.0
No proof there, tho.
But some things do look.. u know.. weird ; )

Fib ASIC marketing was nice - aim at forum members, LTC defense blah-blah, 'trusted' distribution.
Most of concerns raised were flagged as 'trolling'/'FUD'/'shill attacks' and sometimes post deleted.
Also - 'we are not forcing you to buy our Fib ASIC' type answer was used frequently to answer some of the concerns ; )

Litecointalk forum moderators were made involved by making some of them 'trusted hosts'. And ofc it is very hard to separate your private interest from public forum moderation. This resulted in biased(imo) mods actions in Fib ASIC threads and other ASIC manufacturers threads. As in - in Fib thread mods were making warning and deleting(?) 'concerns' as fud/trolling and posting similar 'concerns' in other threads by themselves ; ) To confirm read all posts of mods in all AISC threads.. (yeah it's very annoying, but funny).

CACHE.. Jasin started accepting CacheCoin as a payment for Fib ASIC at a fixed price, higher than on the exchanges. Some members on bitcointalk and litecointalk had "ASIC coin" in their signatures. CacheCoin exchange rate went up. If I'm not mistaken litecontalk moderator Sy had huge ammount of Cache(mined?) so he bought a lot of Fib ASICs. After Fib stopped accepting Cache exchange rate plummeted down.
Some ppl claim that this was an intentional pump&dump of Cache and that the developer of Cache was involved. Cache dev(kalgecin) and jasin apparently were working together(?) on some Cache features and jasin occasinally made claims that he is very interested in Cache(and XC) and has some plans for it.
At the time, the proof from jasin that is was not pump&dump I've read was that he has not sold any Cache received for the ASICs. However to gain profit from this possible p&d you don't necessarily need to sell aquired Cache, you just need to make enough profit on Cache rate fluctuation you knew in advance and number of ASICs you can buy with Cache was intentionally limited. Also there were some allegations(with proof) that jasin wife sold some Cache prior the pump.

Also Fib ASICs were not sold as actual asics instead they were sold as hardware shares also Fib profit shares were sold.
Exchange was promised for those to be implemented. It was never completed cause.. jasin said dev run away. There is also no proof that it ever was developed. Also defense line - 'we make ASICs no websites' was used to 'calm down' ppl concerned that Fib site is buggy and exchange is not completed yet ; ) And ofc that ppl are trolling and are shills of the competitors and that they are not developers and don't understand how much effort it takes to make and test a web site ; )

What's funny is that long before Fib began sales there was a talk that practice of giving money to 'trusted' ppl should be stopped. mmitech(litecointalk) argued that there are enough cases when 'trusted' ppl collected vast ammounts of BTC and dissapeared after. At the time Jasin said that comparison is wrong, cause he have not collected any money yet ; ) Well.. now he has ; )

After 'fud' of corrupted litecointalk mods, admins and LiteCoin association spread, TheMage(litecointalk mod) organised a meeting with Jasin where some 'trusted' ppl representing investors were allowed to ask Jasin some questions. Some of the info was not made public, cause Jasin said it is a part of NDA between him and ASIC chip designers. However, total ammount of planned ASIC chips was made public - ppl counted their orders and realised that planned ammount is much(?) less.
Also coversation revealed the fact that Fib is still on ASIC prototyping/simulation stage. This is odd cause when KNC announced their scrypt ASIC, Fib raised  performance, claiming that they have been designing ASIC for years and that at first they revealed well below performance number not to spook competitors. Again concerns were either marked as trolling/fud and partially answered with 'we have genious salsa dev'.
Also Jasin claimed that ASIC design company(or fab?!) is not aware that they are designing ASIC to be used for litecoin mining and that it was deliberately made secret, because they hate everything about the cryptos and won't do the job if they knew.

Lol, what a mess. Oh well, hope he clears things up.

ha, if that was the plan...it was pretty elaborate.

[lbr]

Lol, what a mess. Oh well, hope he clears things up.

ha, if that was the plan...it was pretty elaborate.

Yeah ; )
At this point I even hope that all that was intented and planned scam, so at least someone will get something positive from all this.
So far I see angry ppl loosing money and Litecoin assoiciation/mods, CacheCoin, XC taking hits and Jasin dissapearing ; ))

[organizer]

Just to follow up with some additional points regarding this:

Jasin/Wifey & Cache
Some research found some posts about Jasin blasting people for using sock puppet accounts at some point in time. Then a connection was made between his wife's nickname (email addresses, social media, etc.) pretty much directly tying Jasin & said account to the Cache stuff (i.e. stuff like "just bought from the CACHE dev, later on posting blocks of Cache for sale at the newly pumped/inflated prices. Based on everything I saw, there's about 0% chance that this person was not Jasin (maybe his wife, but I tend to think it was him). So much for being against sock puppet accounts.

General FIBs
Up until about late spring/early summer the ASIC project was touted as being so far ahead of any competition due to the fact that it was something like 1.5+ years in the making... the hash rate, power consumption, etc. Up until this point, Jasin was happy to quickly answer technical questions about the product.

At the same time, he was also touting his "high frequency exchange" being virtually complete minus some fixes for "regulatory stuff" in around April/May... no proof has ever been provided that such a product exists, much less that it's in BETA state.

This is around the same point he got involved with XC and his attention clearly went to playing coin pumper to that community, which was embraced and promoted by the "team". Talks of "fund evalutions, "watch the price, big whales are going to start buying" you'll be sorry if you sell now, etc. etc." started appearing.

At some point in early Summer, Jasin promised a major update the following week or something. Then he disappeared for like a month. Finally he comes back not with any update but unveils the great coin theft debacle with his developer. I have no idea what happened, my own theory is that the developer was in a situation where he probably was owed money by Jasin and couldn't get paid and maybe out of frustration just took what he was owed and bailed... I don't know, that makes sense to me because not all coins were stolen, which would seem to be what someone would do if they were simply a crook. Now, that doesn't condone what the dude did by running off with coins, but it seems to fit things better than just someone running away with all the coins. Now if it was a open & shut "theft" Jasin is still grossly negligent as the "CEO" of a company to not only allow someone he loosely knew with access to the coins, but also to have no idea that the theft even happened when it did.

This is when things really started to unravel where he started to finally come clean about the true state of the project... at first he tried to say it was still going on and just in a round of testing... I believe later it came to light that there wasn't even a previous design and the chip was still being designed (again I point back to the initial claims of the maturity and status of the project). This alone is probably enough to prove fraud in the sense that he provided customers and investors material information he knew to be incorrect at the time.

Finally, remember he was not only involved in product sales, but was also selling profit shares in his company. Ethically, you would think you'd want to be more honest and forthright to not only customers, but investors as well. To my knowledge, he's never proposed any type of plan for recourse for those investors beyond the refunds, which have stopped coming.

(Note: These is all pretty much paraphrasing things, as i'm recalling from memory here)

How does this tie to XC? Well, both times i've seen it leak over to the XC thread the team has vigorously defended him and embraced him as part of the team (officially a member up until sometime last night it looks like). I have no idea why, maybe they believe that he brings value with #cyrptophi, his promises of interactions with "funds", etc. I don't know.

But it reflects incredibly poorly on the community and the team to not have actually read through the case, realized there was enough PROOF (preponderance of evidence anyone?) that this has spiraled to something more than just a mismanaged project and could have definitely acted to help those hurt recover something earlier, even just through putting pressure on him publicly and privately. Unfortunately, alts have devolved to such a point where it's ok for stuff like this to happen I guess.

But we get instead filibustering and name-calling (remember, i'm BRUTALLY UNETHICAL) and continued support of Jasin.

Of course this hurts XC, the last time I tried posting on the thread I got hit with the same FUD nonsense, but surprisingly there were a number of PMs asking for more info... to which I just pointed them to the LTC forum thread to judge for themselves... Not everyone who invests or follows a coin is blindly faithful.

[kryptopojken]

Jasinlee is a piece of shit and deserves to sit behind bars.

[atp1916]

In this case, people were pre-ordering the development process.... not the product!  

[rdnkjdi]

Posted the best summaries (probably better than mine) to the OP.  TY organizer & lbr for the clarifications/summarized narratives.

[Spoetnik]

As for XC.. I don't even know what that is.
Whats is clear.. some ppl think that.. Jasin smells.. and so everything connected to him smells too.

lay down with dogs you get fleas.. keep playing stupid guys 

[adhitthana]

We need to change the title of this thread as Dan M from XC has unambiguously stated that Jasinlee was NEVER an XC developer.
https://bitcointalk.org/index.php?topic=630547.msg8706065#msg8706065

[rdnkjdi]

We need to change the title of this thread as Dan M from XC has unambiguously stated that Jasinlee was NEVER an XC developer.
https://bitcointalk.org/index.php?topic=630547.msg8706065#msg8706065

*Sigh* Except that Tika and their official PR guy and what used to be posted on their website is in direct contradiction to this statement.

I will post this for the benefit on anyone in XC.  I came over to the XC chat thread and had a pretty extensive argument about Jasinlee and explained that he was scamming people / ignoring people who had paid him hundreds of thousands probably close to a month ago.

I was told I was a FUDDER, Jasinlee was fine, he was a great dev, etc etc.

Soon after XC came up in a thread on the normal litecoin forum.  I brought up that Jasinlee was the #2 core dev (it looked like it - he was listed on the website right next to Dan in the developer section).  Dan popped in and said "Do you SEE HIM LISTED as a core dev?  No you don't."  Soon after that Jasinlee was taken off of the website.

Until now I've left it alone even though Jasinlee is pushing XC/Cachecoin very hard on his website.  I'm fine with him pretending to be associated with a coin that isn't actively associating with him.  I sluffed this off as "not XC's fault that he's pushing them - he must just be a bagholder"

Recently in the chat thread some people have mentioned him and his work (including official XC people).  One guy even mentioned bringing him on full time (not official).  I brought him up in the chat thread AGAIN.  People rallied around Jasinlee and told me to take my complaints somewhere else (including Teka) and that he was still very involved in the project.  There was no "We are looking into this.  If there are allegations we will see if it's true that a developer associated with us is scamming people and cut ties."  There was resounding defense and "go away fudder" so I created this thread to present my side of the story.

It is quite easy reading thru Synchillis and Teka's post that XC is still very involved with Jasinlee but want nothing to do with his baggage.  If anyone has any questions about this I can pull a dozen quotes out of my ass to support that statement. 

At the VERY VERY end of this when they feel they have not adequately defended Jasinlee's reputation enough to keep it from causing damage to their coin.  They switched their stories and say this.

No your missing the point, Jasin was never an XC delevoper

As far as I'm concerned Jasinlee was listed on the website as a dev.  Everybody defends him.  When they realize there is truth to allegations the LEAD developer of XC decides to lie about if he was ever a developer on the XC project.

[Viper1]

Soon after XC came up in a thread on the normal litecoin forum.  I brought up that Jasinlee was the #2 core dev (it looked like it - he was listed on the website right next to Dan in the developer section).  Dan popped in and said "Do you SEE HIM LISTED as a core dev?  No you don't."  Soon after that Jasinlee was taken off of the website.

I'll just leave this here since the XC team seems to want to rewrite history.  The one thing I really dislike is when people spout some morally superior ethics and then try and hide things.  I also find it strange that the website blocks robots like archive.org from crawling it.  That's always a sign people want to hide things, especially historic things that could be used against them in the future.

http://xc-official.com/assets/pdfs/14-07-08%20The%20XC%20Team.pdf

[CryptoGretzky]

Soon after XC came up in a thread on the normal litecoin forum.  I brought up that Jasinlee was the #2 core dev (it looked like it - he was listed on the website right next to Dan in the developer section).  Dan popped in and said "Do you SEE HIM LISTED as a core dev?  No you don't."  Soon after that Jasinlee was taken off of the website.

I'll just leave this here since the XC team seems to want to rewrite history.  The one thing I really dislike is when people spout some morally superior ethics and then try and hide things.

http://xc-official.com/assets/pdfs/14-07-08%20The%20XC%20Team.pdf

Man no wonder you guys got ripped off of your btc.   You guys are dumb as a rock.   

Do you see anything listed in there that is a contribution to XC?    Maybe that's why he's no longer listed as a XC team member....  He hasn't contributed anything yet.  Seriously, go back to school or something.  You guys don't seem to have much IQ.    Really need to smarten up so you don't get ripped off again in the future by some Nigerian prince or something.

Oh, and how many times do people need to tell you this...   if you feel you got scammed, SUE... whining about it in a forum is not going to get you anywhere.   Nobody else on the forum can get your money back.   If someone is a scammer, they are not going to sit there and wait for you.   Take action now or do you still live in your mom's basement and she's mad at you for losing her money and you don't know how to contact the police or whatever?

[rdnkjdi]

Soon after XC came up in a thread on the normal litecoin forum.  I brought up that Jasinlee was the #2 core dev (it looked like it - he was listed on the website right next to Dan in the developer section).  Dan popped in and said "Do you SEE HIM LISTED as a core dev?  No you don't."  Soon after that Jasinlee was taken off of the website.

I'll just leave this here since the XC team seems to want to rewrite history.  The one thing I really dislike is when people spout some morally superior ethics and then try and hide things.

http://xc-official.com/assets/pdfs/14-07-08%20The%20XC%20Team.pdf

Man no wonder you guys got ripped off of your btc.   You guys are dumb as a rock.   

Do you see anything listed in there that is a contribution to XC?    Maybe that's why he's no longer listed as a XC team member....  He hasn't contributed anything yet.  Seriously, go back to school or something.  You guys don't seem to have much IQ.    Really need to smarten up so you don't get ripped off again in the future by some Nigerian prince or something.

Oh, and how many times do people need to tell you this...   if you feel you got scammed, SUE... whining about it in a forum is not going to get you anywhere.   Nobody else on the forum can get your money back.   If someone is a scammer, they are not going to sit there and wait for you.   Take action now or do you still live in your mom's basement and she's mad at you for losing her money and you don't know how to contact the police or whatever?

While I can appreciate the insults (once again pretty much all I get from the XC people) - the following is a quote from Teka

Jasin's work and experience is beneficial to XC. So far his experience and coding in regards to XC have been extremely useful for the project.

[CryptoGretzky]

PRO TIPS for not what to do when you get scammed on the net...

1. Just whine about it on a forum full of anonymous people that can't help instead of calling the authority
2. Drag other people that have nothing to with it down with you so those people would REALLY give a shit about you being scammed
3. Repeat step 1-2 twenty plus times a day

[Viper1]

Man no wonder you guys ....

Anything you might have to say regarding XC can safely be ignored since it would be completely self serving.

+1 to this.  I am holding a LOT of this coin.  Not going to sell.   This is way better than those other crap coins that go through the roof.    When this dev gets through with it, I have a feeling it's going to be the best coin out of all of them.   Just hope I can accumulate more before that happens.

https://bitcointalk.org/index.php?topic=600706.msg6845023#msg6845023

And by the way.  I have no stake in all this (wasn't involved with the ASIC stuff, not involved with XC, not seriously involved with any specific "competitor"), just putting out facts.

[CryptoGretzky]

Man no wonder you guys ....

Anything you might have to say regarding XC can safely be ignored since it would be completely self serving.

+1 to this.  I am holding a LOT of this coin.  Not going to sell.   This is way better than those other crap coins that go through the roof.    When this dev gets through with it, I have a feeling it's going to be the best coin out of all of them.   Just hope I can accumulate more before that happens.

https://bitcointalk.org/index.php?topic=600706.msg6845023#msg6845023

And by the way.  I have no stake in all this (wasn't involved with the ASIC stuff, not involved with XC, not seriously involved with any specific "competitor"), just putting out facts.

Ya... again repeating the dumb as a rock comment.  You see my sig right and my recent posts...   Do I hide the fact that I am a XC advocate/investor?   You make it sound like you made a huge discovery or something....

[synechist]

Man no wonder you guys ....

Anything you might have to say regarding XC can safely be ignored since it would be completely self serving.

+1 to this.  I am holding a LOT of this coin.  Not going to sell.   This is way better than those other crap coins that go through the roof.    When this dev gets through with it, I have a feeling it's going to be the best coin out of all of them.   Just hope I can accumulate more before that happens.

https://bitcointalk.org/index.php?topic=600706.msg6845023#msg6845023

And by the way.  I have no stake in all this (wasn't involved with the ASIC stuff, not involved with XC, not seriously involved with any specific "competitor"), just putting out facts.

This post is known as an ad hominen argument. Google it.

[Viper1]

Man no wonder you guys ....

Anything you might have to say regarding XC can safely be ignored since it would be completely self serving.

+1 to this.  I am holding a LOT of this coin.  Not going to sell.   This is way better than those other crap coins that go through the roof.    When this dev gets through with it, I have a feeling it's going to be the best coin out of all of them.   Just hope I can accumulate more before that happens.

https://bitcointalk.org/index.php?topic=600706.msg6845023#msg6845023

And by the way.  I have no stake in all this (wasn't involved with the ASIC stuff, not involved with XC, not seriously involved with any specific "competitor"), just putting out facts.

Ya... again repeating the dumb as a rock comment.  You see my sig right and my recent posts...   Do I hide the fact that I am a XC advocate/investor?   You make it sound like you made a huge discovery or something....

In what way am I "dumb as a rock"?  Can't argue with XC's own document.  Seems as if you're the one that has problems due to your puppy dog blinders.