[SCAM] Blocknet

[UnicornFarts]

Let's use Microsoft to derail precisely what we are here to do!

If you assume those Microsoft Skype chats are true.  It is obvious Dan is here to make money - not change the world.

And Microsoft has better tools for chatting than XC.  So even while there is irony it makes perfect sense.

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[UnicornFarts]

a guy just told me via PM..

Was checking your post and I looked at prometheus's first message on bitcointalk he posted as "Dan":

Might be a connection xD

https://bitcointalk.org/index.php?topic=384887.msg4141175#msg4141175
(Signed -Dan)

His post history:
https://bitcointalk.org/index.php?action=profile;u=197325;sa=showPosts;start=160

Make sure and screengrab this.   This is absolutely astounding.

[Troublesome96]

Pay no attention to that man behind the curtain.

http://youtu.be/YWyCCJ6B2WE

[pikuchato]

For me it's like watching the the 20'th episode of an opera soap season without watching the first 19 episodes.
I have no chance to understand what the hell is going on. (I did not invest in those anyway... )

[Nxtblg]

Whatever it's faults, the crypto-scene is an amazing social experiment in action. Back in the 19th century we had the Gold Rushes:
http://en.wikipedia.org/wiki/Gold_rush
And it's amazing how closely the crypto world resembles those Gold Rushes. Round about now (one year after a major gold discovery/Bitcoin rise) is the moment the cops/sherriff/Mounties are gonna ride into our boomtown and clean it up, hopefully chasing most of the bad guys out of town, but making it in the process a very much more boring and restrictive place.

I'm a slightly dedicated anarchist, and it saddens me pisses me off that so many people can't deal with the personal responsibilities that freedom from law brings.

You are spot on. Most of us came here because of the ideals be it libertarian or anarchist or whatever. But the very thing we have been try to escape from - we created it here. And we created a monster. It just goes to show what is going on in the world at large now, a reflection if you will.

That said, I do believe that over time the true market forces will weed out the scams and shitcoins and one day, be it in 3 year , 5 or 20 years - the crypto world will look much different and will have legitimacy, you are right now we lack the legitimacy and we want acceptance from the mainstream. Don't work that way

Jimmy Zed

Well...even if current cryptocurrency ends up being yet another payment system swallowed up by the Regulatory State, the "impractical ideal" will not die. It won't: libertarianism has reached critical mass. It's hard to believe that, only twenty-five years ago, calmly and politely affirming the ABCs of libertarianism would get a fellow's head torn off.

Of course, back then, the dark side of the Regulatory State was far less evident than it is today - just as the Regulatory State itself was far less elaborate than today's. So, more and more people are becoming unconscious quasi-libertarians in their yearnings. The fact that it's really difficult to acquire the right kind of street smarts to thrive in a completely unregulated economy will not stop people smitten by the dream from trying and trying again.

Was file-sharing destroyed by Napster being fried? Of course not. Was P2P and Torrenting destroyed by the Pirate Bay being leaned on? No. Were pushes towards the gold standard stopped by e-Gold being fried? Nope, not at all.

So...even if Bitcoin and the "legitimate" cryptocurrencies are, uh, "tamed" by a regulatory system for cryptos, all that says to me is that there'll be more field tests coming down the pipe. Obviously, the way to go is further decentralization and peer-to-peer: you can't have command-and-control without centralization and hierarchy...

[UnicornFarts]

Read Ayn Rand.  It's been around a long time ... it's just the latest hip thing.  Just like communism was back in the day.

[awais3344_1]

so today, I was going through it to review it again. So I just noticed that the blocknet is not using any escrow, rather it's a sale.
Because in escrow you get a third party so that all the funds are held until success conditions are met. Without the product releasing of escrow is like having no escrow at all. So this is more of a final sale than the escrow that people are believing on.

Bittrex has modified their ICO terms as well if you haven't noticed!  

if you go to blocknet thread here

https://bitcointalk.org/index.php?topic=829576.0

Bittrex ITO rules

Bittrex will be hosting the Blocknet ITO. As a reminder, we are providing escrow for the development team. We are not endorsing this coin or any others on our exchange. Please do your own research before trading. Below are the FULL and DEFINITIVE terms for this ITO; no other conditions are required.

* We will review the wallet before initially adding it.
* Bittrex will host 3,400,000.00 of 10,000,000 total coins at a price of 0.00025 the ITO will value 2500 BTC across all exchanges.
* The ITO will run for 7 days beginning October 29, 2014 at 5am PDT and ending on November 5th 23:59:59 PDT


* The ITO must raise 850 BTC total across all exchanges to be considered a success.
* If success conditions are NOT met, all BTC invested will be refunded through a buy wall.
* Once the ITO is over we will verify there is working wallet, blockchain, and block explorer.


* ITO payment will be in a lump sum to Blocknet within 7 days after the ITO ends.
* No trading of the coin will be allowed until the ITO ends and escrow is released.


* ALL SALES ARE FINAL AND THERE WILL BE NO REFUNDS - by participating in this ITO, you are agreeing to the above terms.



So apparently, this is a final SALE not a ESCROW!
I think the investors are too dumb to even read the terms.
That means that funds will be released to the blocknet developers even if they sleep for 7 days!! That means that the escrow will be released once a working wallet, blockchain and block explorer is up. This is a complete fraud. Bittrex has stated that these sales are final. Now you have to be a complete retard to use bittrex or other exchanges if this is not an escrow service, you're sending your money directly to the developers even if they develop a thing or not.

I hope they don't fuck people over. But they have every right to fuck everyone over because this is how dumb people with $$$ are.


TL;DR you'll not get a single satoshi back if this is a scam. You are sending your coins directly to the developers, no escrow.

[bitcoinbelieve]

so today, I was going through it to review it again. So I just noticed that the blocknet is not using any escrow, rather it's a sale.
Because in escrow you get a third party so that all the funds are held until success conditions are met. Without the product releasing of escrow is like having no escrow at all. So this is more of a final sale than the escrow that people are believing on.

Bittrex has modified their ICO terms as well if you haven't noticed!  

if you go to blocknet thread here

https://bitcointalk.org/index.php?topic=829576.0

Bittrex ITO rules

Bittrex will be hosting the Blocknet ITO. As a reminder, we are providing escrow for the development team. We are not endorsing this coin or any others on our exchange. Please do your own research before trading. Below are the FULL and DEFINITIVE terms for this ITO; no other conditions are required.

* We will review the wallet before initially adding it.
* Bittrex will host 3,400,000.00 of 10,000,000 total coins at a price of 0.00025 the ITO will value 2500 BTC across all exchanges.
* The ITO will run for 7 days beginning October 29, 2014 at 5am PDT and ending on November 5th 23:59:59 PDT


* The ITO must raise 850 BTC total across all exchanges to be considered a success.
* If success conditions are NOT met, all BTC invested will be refunded through a buy wall.
* Once the ITO is over we will verify there is working wallet, blockchain, and block explorer.


* ITO payment will be in a lump sum to Blocknet within 7 days after the ITO ends.
* No trading of the coin will be allowed until the ITO ends and escrow is released.


* ALL SALES ARE FINAL AND THERE WILL BE NO REFUNDS - by participating in this ITO, you are agreeing to the above terms.



So apparently, this is a final SALE not a ESCROW!
I think the investors are too dumb to even read the terms.
That means that funds will be released to the blocknet developers even if they sleep for 7 days!! That means that the escrow will be released once a working wallet, blockchain and block explorer is up. This is a complete fraud. Bittrex has stated that these sales are final. Now you have to be a complete retard to use bittrex or other exchanges if this is not an escrow service, you're sending your money directly to the developers even if they develop a thing or not.

I hope they don't fuck people over. But they have every right to fuck everyone over because this is how dumb people with $$$ are.


TL;DR you'll not get a single satoshi back if this is a scam. You are sending your coins directly to the developers, no escrow.

have you heard about scattercoin (scam coin)? this is exactly happened in the past and bittrex had refund money. I'm pretty sure this will happen again. Back than scattercoin ITO was little over 100btc and people complain and complain until bittrex refund the money. In this case we are talking about 2500btc. Do you really think they will get away with that?

[awais3344_1]

have you heard about scattercoin (scam coin)? this is exactly happened in the past and bittrex had refund money. I'm pretty sure this will happen again. Back than scattercoin ITO was little over 100btc and people complain and complain until bittrex refund the money. In this case we are talking about 2500btc. Do you really think they will get away with that?

scattercoin? i am not sure, but I have heard about other ICOs that went south and bittrex did refund. but only because success conditions are not met.

They refunded because Cryptoasian said that he is not going to verify that coin called clustercoin. So bittrex refunded before 3 days.
If only the developer was more of a player, he could have kept cryptoasian hanging for 3 days and got the funds. But it was his mistake that he tried to provide wrong identity to cryptoasian and got caught.

Okay, so this means that if blocknet's wallet and blockchain is working. Your money is gone. This is what success conditions are. You HAVE no right to ask for a refund at all.

[sdersdf3]

Good that we finally have FinCEN trying to regulate altcoins. It will be harder for these kind of people to make any new shitcoins.

Wow...when I read that, my "writer's bug" went into overdrive. I know the full-bore libertarians and ancaps won't like the following, but the proliferation and durability of scamcoins do show how unready we are for economic liberty.

Wouldn't go quite that far, but what's happened across so many altcoins over the past couple months also gives me pause and makes me more skeptical than I was before about whether human nature and libertarianism are compatible.

What you want is a balance of freedom and responsibility - freedom where people regulate themselves - or freedom isn't sustainable. It just becomes self-destructive anarchy. This altcoin ecosystem has been destroying itself. Just look at the total market cap. We used to be above $14billion - today, sliding under $5 billion amid all this scam crap.

[vgolitsyn]

Good that we finally have FinCEN trying to regulate altcoins. It will be harder for these kind of people to make any new shitcoins.

Wow...when I read that, my "writer's bug" went into overdrive. I know the full-bore libertarians and ancaps won't like the following, but the proliferation and durability of scamcoins do show how unready we are for economic liberty.

Wouldn't go quite that far, but what's happened across so many altcoins over the past couple months also gives me pause and makes me more skeptical than I was before about whether human nature and libertarianism are compatible.

What you want is a balance of freedom and responsibility - freedom where people regulate themselves - or freedom isn't sustainable. It just becomes self-destructive anarchy. This altcoin ecosystem has been destroying itself. Just look at the total market cap. We used to be above $14billion - today, sliding under $5 billion amid all this scam crap.

Yeah let's regulate, have the Exchange/Exchanges put buy walls up.. So people can sell Blocknet and the rest of the trash...That's how we start.

[simplecrypto]

Spoetnik, have you lawyered up yet? Hoping not all of them are at the bottom of the sea