THE BYTECENT DISASTER

[Altcoin Prophet]

On with BYTECENT...

I have no further "beef" with this coin since the right thing was done by offering unsatisfied investors -and with good reason- a refund. That's doing things right.

Now, the "mess" seems to continue in the mining of the coin: It is supposed to mine 1BYC per block, as advertised. Well, it doesn't. There are MANY block that mine more than 1 BYC. Way more, in fact. Some a lot more than 1 BYC.

I have been looking sporadically since I just have a passing interest in the coin, but I have seen how "irregular" the mining is even now that it is supposed to be "stabilized". Have you check blocks #s 68138, 68154, 68179, 68196 and 68206, for instance. Well do. And you will discover that, quite frequently actually, some people are mining blocks that are way more profitable than the ones you are mining at 1BYC per block.

I heard its was a algo issue. I never bought any nor will I but I did follow to see if it was a real scam. Seems not more a broken algo or block height issue. They can just shorten the mining end time so it still generates the same or near same total of coins it was intended.

[1714820794]

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[1714820794]

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[rugrats]

The case of IE is  very peculiar for the guy is NOT, I repeat, is NOT, a scammer. I happen to know that he isn't. At all. It's just a guy with a very peculiar, extraordinarily egocentric personality and a quick temper, affected of several psico/socio syndromes that I am not qualified to determine but that result in an individual, with some brilliant ideas that time and time again he bombards in a self-destructive and very reiterative modus operandi. He's simply unable to admit that he has done something wrong. or inappropriate. Regardless how evident. Oh he will admit it if it is so evident as a typo, for instance, BUT with an immediate excuse/justification. That will apply to absolutely everything he does or proposes , regardless of the level of the mistake. He's simply incapable of say Yes, I did this wrong, period. There's always some third party (or parties) that provoked his mistake, no matter how many times repeated. He will admit to his volatile, egocentric and irascible personality alright, but will never adhere to any of those sole responsibility for anything. Ever.

I was a very ardent critic of IE when he was trying to manipulate the markets at BC and found -and posted to that effect- his proposed Wall Street Event  both counterproductive for BC and extremely unethical, in spite of which -and some rather heated confrontations that are available in the reopened BC thread here in BTCT-, many greedy BC community members send him donations galore to reach around $4,000 of the $11,000 he had budgeted the event at.
Then things took a turn and all of a sudden, IE did a turnaround when not supported by the devs of BC and left the event hanging. Meanwhile, he had received donations in BC, BTC and other cryptos, often from exchanges. From many people. Returning them presented quite a nightmare in time and even in making it possible at all for it was impossible to corroborate the wallet addresses from the exchanges so IE, once again, opted for a "solution" he made certain no one would like: He would not return them, or give to the Foundation; he would, in turn, give the money to charity and add to the donation a personal one --supposedly to wash the tax benefit that the charity donation would bring. So I know he did not scammed the BC donors... but he did not do something entirely acceptable with their donations either. Furthermore, he made the decision arbitrarily and unilaterally, in typical IE fashion, leaving pretty much everyone justifiably pissed off and reaping the "benefit" of a reputation forever tarnished. Adding to all those circumstances the fact that he is a black person, apparently quite successful in his business dealing in the real world, the obviously racist hatred awaken in some of his "critics" has become quite venomous and completely detached from any responsibilities IE may or may not have had regarding the unreturned donations.

That's the REAL story that I lived quite closely. And that's how I know he is a bunch of things, some quite regrettable, but not a scammer. (I have to add here that I don't have corroboration or proof that he actually carried out the charity donation, but that was the decision he took at the time. Whether the donation was carried out I do not know for sure).

Ffs Barabbas, why on earth are you trying to make a distinction between IE's lying and scamming?
He lies to facilitate his scamming. That's it.
Also, that charitable contribution excuse is hogwash - and you know it.
If he really did donate the money to charity, do you think he wouldn't have plastered the receipt everywhere between Hoboken and Timbuktu?
The man's a narcissistic sociopath.

[George5]

Now, the "mess" seems to continue in the mining of the coin: It is supposed to mine 1BYC per block, as advertised. Well, it doesn't. There are MANY block that mine more than 1 BYC. Way more, in fact. Some a lot more than 1 BYC.

I have been looking sporadically since I just have a passing interest in the coin, but I have seen how "irregular" the mining is even now that it is supposed to be "stabilized". Have you check blocks #s 68138, 68154, 68179, 68196 and 68206, for instance. Well do. And you will discover that, quite frequently actually, some people are mining blocks that are way more profitable than the ones you are mining at 1BYC per block.

Are you f***ing joking!! Those are the coins sent from one addresss to another! They are added to the transaction of mined block (1BYC). Examine more carefully in the block explorer. You can generate such "irregular" blocks yourself simly by sending xx coins from one wallet to another. Either you were sleepy when writing that post or just a weak FUD attempt 

[djm34]

Now, the "mess" seems to continue in the mining of the coin: It is supposed to mine 1BYC per block, as advertised. Well, it doesn't. There are MANY block that mine more than 1 BYC. Way more, in fact. Some a lot more than 1 BYC.

I have been looking sporadically since I just have a passing interest in the coin, but I have seen how "irregular" the mining is even now that it is supposed to be "stabilized". Have you check blocks #s 68138, 68154, 68179, 68196 and 68206, for instance. Well do. And you will discover that, quite frequently actually, some people are mining blocks that are way more profitable than the ones you are mining at 1BYC per block.

Are you f***ing joking!! Those are the coins sent from one addresss to another! They are added to the transaction of mined block (1BYC). Examine more carefully in the block explorer. You can generate such "irregular" blocks yourself simly by sending xx coins from one wallet to another. Either you were sleepy when writing that post or just a weak FUD attempt 

I am still undecided about this thread...
Is it a promotional thread for bytecent,
a thread to bash bytecent (this one can be excluded)
or just some attempt to manipulate the price of this scam

[barabbas]

Now, the "mess" seems to continue in the mining of the coin: It is supposed to mine 1BYC per block, as advertised. Well, it doesn't. There are MANY block that mine more than 1 BYC. Way more, in fact. Some a lot more than 1 BYC.

I have been looking sporadically since I just have a passing interest in the coin, but I have seen how "irregular" the mining is even now that it is supposed to be "stabilized". Have you check blocks #s 68138, 68154, 68179, 68196 and 68206, for instance. Well do. And you will discover that, quite frequently actually, some people are mining blocks that are way more profitable than the ones you are mining at 1BYC per block.

Are you f***ing joking!! Those are the coins sent from one addresss to another! They are added to the transaction of mined block (1BYC). Examine more carefully in the block explorer. You can generate such "irregular" blocks yourself simly by sending xx coins from one wallet to another. Either you were sleepy when writing that post or just a weak FUD attempt 

OK, that seems simple enough an explanation... except that there are not enough coins, ANYWHERE, to "explain away" such a thing. Block # 68900 is 111,942 and change BYC. NO ONE but Bittrex has even a 10% of that amount. Block # 69838 is almost 93,000 BYC...

Like I said, there's probably a very simply, innocent explanation to this, but you haven't come even close to provide it.

I can though -I believe- explain why 12 hours ago the outstanding number of BYC was at 226K count and now it stands at less than 215K. Irregular, as it is, it seems to be due to the destroying of the coins that were tendered and refunded by Bittrex. Why that happens so long after the transactions took place, simply eludes me. I know that those coins have been mining a significant amount since they were tendered though... Shit wherever you look. All the time. From all sides and parties. Nauseating...

[TaylorSwift]

Dump and run from this coin. It's an Iconic Expert scam. 

[barabbas]

Now, the "mess" seems to continue in the mining of the coin: It is supposed to mine 1BYC per block, as advertised. Well, it doesn't. There are MANY block that mine more than 1 BYC. Way more, in fact. Some a lot more than 1 BYC.

I have been looking sporadically since I just have a passing interest in the coin, but I have seen how "irregular" the mining is even now that it is supposed to be "stabilized". Have you check blocks #s 68138, 68154, 68179, 68196 and 68206, for instance. Well do. And you will discover that, quite frequently actually, some people are mining blocks that are way more profitable than the ones you are mining at 1BYC per block.

Are you f***ing joking!! Those are the coins sent from one addresss to another! They are added to the transaction of mined block (1BYC). Examine more carefully in the block explorer. You can generate such "irregular" blocks yourself simly by sending xx coins from one wallet to another. Either you were sleepy when writing that post or just a weak FUD attempt 

I am still undecided about this thread...
Is it a promotional thread for bytecent,
a thread to bash bytecent (this one can be excluded)
or just some attempt to manipulate the price of this scam

It is very simple... for people with a modicum of intelligence and common sense: NEITHER.

First, I supported -and invested- in Bytecent. That was before creating this thread.

Then IconicExpert messed up (again) big time by not just  allowing but even trying to justify the enormous amounts of coins that were mined in the first hours and that stunk to high heaven of accidental or controlled scam. Either way, I insisted HERE, that a new launching (giving him the benefit of the doubt, about if scam or accident) or issuing a refund to unsatisfied investors, were the only options. When IconicExpert refused to acknowledge that there was a mess and pretended that mining tens of thousands of coins when a max of 1440 per day were promised, I created this thread to expose the mess and otherwise force Bittrex to take action.

Finally, that happened and those discontent with the mess were given the fair chance of getting a refund of their investment.

End of THAT PART of the drama. As far as I am concerned, no one is left in BYC that doesn't perfectly know what they are invested in.

Now, subsequently, I have discovered the still unresolved matter of apparently huge amounts of coins moving around along some blocks. And I want clarification, that's all.

In answering another poster, the lies of IconicExpert are irrefutable; his pretended "scams" aren't. Quite a difference, in my view.

[George5]

Now, the "mess" seems to continue in the mining of the coin: It is supposed to mine 1BYC per block, as advertised. Well, it doesn't. There are MANY block that mine more than 1 BYC. Way more, in fact. Some a lot more than 1 BYC.

I have been looking sporadically since I just have a passing interest in the coin, but I have seen how "irregular" the mining is even now that it is supposed to be "stabilized". Have you check blocks #s 68138, 68154, 68179, 68196 and 68206, for instance. Well do. And you will discover that, quite frequently actually, some people are mining blocks that are way more profitable than the ones you are mining at 1BYC per block.

Are you f***ing joking!! Those are the coins sent from one addresss to another! They are added to the transaction of mined block (1BYC). Examine more carefully in the block explorer. You can generate such "irregular" blocks yourself simly by sending xx coins from one wallet to another. Either you were sleepy when writing that post or just a weak FUD attempt 

OK, that seems simple enough an explanation... except that there are not enough coins, ANYWHERE, to "explain away" such a thing. Block # 68900 is 111,942 and change BYC. NO ONE but Bittrex has even a 10% of that amount. Block # 69838 is almost 93,000 BYC...

Like I said, there's probably a very simply, innocent explanation to this, but you haven't come even close to provide it.

I can though -I believe- explain why 12 hours ago the outstanding number of BYC was at 226K count and now it stands at less than 215K. Irregular, as it is, it seems to be due to the destroying of the coins that were tendered and refunded by Bittrex. Why that happens so long after the transactions took place, simply eludes me. I know that those coins have been mining a significant amount since they were tendered though... Shit wherever you look. All the time. From all sides and parties. Nauseating...

Well it took me 3 minutes of simple investigation to track where those coins come from - all from the 159k Bittrex wallet. The "weird" thing is that after every withdrawal from that wallet the remaining amount moves to the other address. So here is your innocent explanation. 

On #2 I agree that the total amount of coins reduced due to the burning of ~14k BYC sold during the buyback. Why this was reflected in some time - well the block explorer was not updated in time, that's it.

I know that those coins have been mining a significant amount since they were tendered though...

Don't know what you mean by that - BYC is not the PoS coin. And if you mean that they were used laying in the wallets and helping to mine uninterruptedly, than look at the difficulty and check if they were able to mine a large a mount of coins.

So if you look closely there is not so much shit around here...

[Sumo]

everyone yelling scam scam meanwhile up 100% lol

[barabbas]

Now, the "mess" seems to continue in the mining of the coin: It is supposed to mine 1BYC per block, as advertised. Well, it doesn't. There are MANY block that mine more than 1 BYC. Way more, in fact. Some a lot more than 1 BYC.

I have been looking sporadically since I just have a passing interest in the coin, but I have seen how "irregular" the mining is even now that it is supposed to be "stabilized". Have you check blocks #s 68138, 68154, 68179, 68196 and 68206, for instance. Well do. And you will discover that, quite frequently actually, some people are mining blocks that are way more profitable than the ones you are mining at 1BYC per block.

Are you f***ing joking!! Those are the coins sent from one addresss to another! They are added to the transaction of mined block (1BYC). Examine more carefully in the block explorer. You can generate such "irregular" blocks yourself simly by sending xx coins from one wallet to another. Either you were sleepy when writing that post or just a weak FUD attempt 

OK, that seems simple enough an explanation... except that there are not enough coins, ANYWHERE, to "explain away" such a thing. Block # 68900 is 111,942 and change BYC. NO ONE but Bittrex has even a 10% of that amount. Block # 69838 is almost 93,000 BYC...

Like I said, there's probably a very simply, innocent explanation to this, but you haven't come even close to provide it.

I can though -I believe- explain why 12 hours ago the outstanding number of BYC was at 226K count and now it stands at less than 215K. Irregular, as it is, it seems to be due to the destroying of the coins that were tendered and refunded by Bittrex. Why that happens so long after the transactions took place, simply eludes me. I know that those coins have been mining a significant amount since they were tendered though... Shit wherever you look. All the time. From all sides and parties. Nauseating...

Well it took me 3 minutes of simple investigation to track where those coins come from - all from the 159k Bittrex wallet. The "weird" thing is that after every withdrawal from that wallet the remaining amount moves to the other address. So here is your innocent explanation. 

On #2 I agree that the total amount of coins reduced due to the burning of ~14k BYC sold during the buyback. Why this was reflected in some time - well the block explorer was not updated in time, that's it.

I know that those coins have been mining a significant amount since they were tendered though...

Don't know what you mean by that - BYC is not the PoS coin. And if you mean that they were used laying in the wallets and helping to mine uninterruptedly, than look at the difficulty and check if they were able to mine a large a mount of coins.

So if you look closely there is not so much shit around here...

I still don't understand how you can move 191,000 coins from a 159,000 wallet but I am pretty sure there's an explanation for that too. Perhaps that the 159 had grown to the 191 by the time it was moved... The other thing is, yes, obviously, since no other wallet had even 10% of such amounts, it HAD to be the Bittrex wallet by defect. Question is, why does the Bittrex wallet move the coins at all? and why in such amounts? Security reasons?

BYC is POM which is a modified POS. It means the more coins you have the more you mine, obviously. Not to mention uninterrupted by the captchas, since there's a "fix" for that.

[barabbas]

everyone yelling scam scam meanwhile up 100% lol

lol? really? Have you checked the price at the time of your posting? Day's young stil...

FACT is there are, as I have posted before, already 65,000 coins out there for which the owners have paid ZERO, so any price they can get will be 100% profit (minus electricity charges, if you want to be pickety picky about it-. That is almost 1/3 of all coins outstanding, ok? In other words, you are sitting on a barrel full of dynamite. And price will eventually reflect that.

[George5]

Perhaps that the 159 had grown to the 191 by the time it was moved...

LOL. If I move my 100BYC From wallet A to B, and then from B to C, that doesn’t prove that I’ve got 200BYC because Block explorer shows 2 transactions 100BYC each…

The other thing is, yes, obviously, since no other wallet had even 10% of such amounts, it HAD to be the Bittrex wallet by defect. Question is, why does the Bittrex wallet move the coins at all? and why in such amounts? Security reasons?

To confuse some people

BYC is POM which is a modified POS. It means the more coins you have the more you mine, obviously. Not to mention uninterrupted by the captchas, since there's a "fix" for that.

Wrong again!
I can mine the same amount with 25 coins on the wallet and 600 coins.

[barabbas]

Perhaps that the 159 had grown to the 191 by the time it was moved...

LOL. If I move my 100BYC From wallet A to B, and then from B to C, that doesn’t prove that I’ve got 200BYC because Block explorer shows 2 transactions 100BYC each…

The other thing is, yes, obviously, since no other wallet had even 10% of such amounts, it HAD to be the Bittrex wallet by defect. Question is, why does the Bittrex wallet move the coins at all? and why in such amounts? Security reasons?

To confuse some people

BYC is POM which is a modified POS. It means the more coins you have the more you mine, obviously. Not to mention uninterrupted by the captchas, since there's a "fix" for that.

Wrong again!
I can mine the same amount with 25 coins on the wallet and 600 coins.

Is that your answer? Really? Wow! (red)

Only if you use a single computer. You need those amounts for EACH computer you mine in. So not altogether wrong, am I? (purple)

[George5]

I begin thinking you are playing the fool here, barrabas...

Only if you use a single computer. You need those amounts for EACH computer you mine in. So not altogether wrong, am I? (purple)

Well probably Bittrex used those 14 000 coins to mine 1K BYC on 24 powerfull PCs... Yeah, I think that makes sense  

[barabbas]

I begin thinking you are playing the fool here, barrabas...

Only if you use a single computer. You need those amounts for EACH computer you mine in. So not altogether wrong, am I? (purple)

Well probably Bittrex used those 14 000 coins to mine 1K BYC on 24 powerfull PCs... Yeah, I think that makes sense 

Not as much sense as moving around hundreds of thousands of coins just to confuse "some" people (only those unable to click twice on the explorer, of course), I have to admit, but some sense nevertheless. Otherwise the other explanation was what? I understand all it takes for destroying any amount of coins is a click of the mouse, right?

[George5]

I begin thinking you are playing the fool here, barrabas...

Only if you use a single computer. You need those amounts for EACH computer you mine in. So not altogether wrong, am I? (purple)

Well probably Bittrex used those 14 000 coins to mine 1K BYC on 24 powerfull PCs... Yeah, I think that makes sense 

Not as much sense as moving around hundreds of thousands of coins just to confuse "some" people (only those unable to click twice on the explorer, of course), I have to admit, but some sense nevertheless. Otherwise the other explanation was what? I understand all it takes for destroying any amount of coins is a click of the mouse, right?

I (and the majority i assume) dont give a f**k whether Bittrex moves the coins or keps them in one wallet if only they won't get stolen.

But if you want to accuse Bittrex in being scamers please don't hesitate!

[barabbas]

I begin thinking you are playing the fool here, barrabas...

Only if you use a single computer. You need those amounts for EACH computer you mine in. So not altogether wrong, am I? (purple)

Well probably Bittrex used those 14 000 coins to mine 1K BYC on 24 powerfull PCs... Yeah, I think that makes sense 

Not as much sense as moving around hundreds of thousands of coins just to confuse "some" people (only those unable to click twice on the explorer, of course), I have to admit, but some sense nevertheless. Otherwise the other explanation was what? I understand all it takes for destroying any amount of coins is a click of the mouse, right?

I (and the majority i assume) dont give a f**k whether Bittrex moves the coins or keps them in one wallet if only they won't get stolen.

But if you want to accuse Bittrex in being scamers please don't hesitate!

I am accusing no one of anything, I'm just stating facts. And searching for logical answers, nothing more.

[George5]

I am accusing no one of anything, I'm just stating facts. And searching for logical answers, nothing more.

Ok, I'll keep watching this thread in case you find something interesting and decide to post it here.

[bitboy11]

It is a pity...you just can't trust anybody these days!

[Jewell]

this is beautifull of bitcointalk.org not modereted topic with too many fuds. I'm out.