THE BYTECENT DISASTER

[barabbas]

IconicExpert just got me banned from CoinBlab. After supporting -and investing- in his Bytecent project and trying to, privately and publicly, help in many ways,
I became naturally critic of the disaster that the launching of Byutecent has become:

After trying to turn the low participation in its ICO, in which he offered for sale 3 million coins at 50k sat each and sold just under 160k, into a positive given the small amount of coins that would be available -therefore potentially increasing the price of the coin in the market-, the supposedly innovative and certainly restricted mining period started. 1440 coins is almost 1% of 160,000 coins, which is high for a daily rate, but nothing particularly notorious as far as inflation go... problem is that the mining started and only a few hours into it, there's almost 16,000 coins already mined instead. Instamined, as it were. This happening, simultaneously, with massive complains from downloaders of the Windows wallets unable to get their wallets to mine at all... even after a supposed "fix" (Mind you, this is the project in which, in IE's own words, you wouldn't "need a degree in computer sciences to install the wallet"... Wow.

Iconic had stated, many, MANY times, that 1440 coins would be the maximum mined coins daily. Not approximately. Not after some period of "normalization". Not in ANY case. Obviously, IconicExplorer lied. So, by the first 24 hours of Bytecent on its mining period, the coin will have around 200,000 coins available, having diluted the price by at least 20%.

I -and others- suggested to IE to relaunch more appropriately -and fairly- or issue refunds. He refused. I and representing those others frustrated and unhappy with this absurd outcome, expect Bittrex to take matters in their own hands, as they are the escrow of the project, and make refunds available before this disaster hits the market since, obviously, IconicExpert is beyond convincing, be it because of his peculiar personality that lands him in trouble more often than not, be it because he is directly benefiting from the "instamine". I don't know which and, at this point, I don't care. I don't believe Bytecent is a scam -and that why I invested in it and supported it- but it is not, in my view, a viable project in its current state.

With IconicExpert being able to ban their critics -much like if it was a censored thread here in BTCT- much less.

Pity, because it could have been a very interesting project -it could still be- but IE insist in tainting it. Sad indeed.

[sdmathis]

I wonder how many people still think barabbas and IE are the same person now. This post proves that they are different people, or that IE is an even bigger moron than I thought.

[barabbas]

I wonder how many people still think barabbas and IE are the same person now. This post proves that they are different people, or that IE is an even bigger moron than I thought.

Only very idiotic people ever believed that fallacy. But a couple remain to this day, which once again proves Einstein's concept of human stupidity, of course.

That is not nearly as important as the fact that, unless Bittrex does the right thing and issues refunds, investors in Bytecent -except for those few mining massively- are being robbed blind of a huge % of their investment... not necessarily by IE but robbed nonetheless.

[sdmathis]

I wonder how many people still think barabbas and IE are the same person now. This post proves that they are different people, or that IE is an even bigger moron than I thought.

Only very idiotic people ever believed that fallacy. But a couple remain to this day, which once again proves Einstein's concept of human stupidity, of course.

That is not nearly as important as the fact that, unless Bittrex does the right thing and issues refunds, investors in Bytecent -except for those few mining massively- are being robbed blind of a huge % of their investment... not necessarily by IE but robbed nonetheless.

I hope Bittrex does the right thing, but I don't have much confidence that they will. I'm afraid that Bittrex will choose profit over ethics. That has been their pattern in the past.

[barabbas]

I wonder how many people still think barabbas and IE are the same person now. This post proves that they are different people, or that IE is an even bigger moron than I thought.

Only very idiotic people ever believed that fallacy. But a couple remain to this day, which once again proves Einstein's concept of human stupidity, of course.

That is not nearly as important as the fact that, unless Bittrex does the right thing and issues refunds, investors in Bytecent -except for those few mining massively- are being robbed blind of a huge % of their investment... not necessarily by IE but robbed nonetheless.

I hope Bittrex does the right thing, but I don't have much confidence that they will. I'm afraid that Bittrex will choose profit over ethics. That has been their pattern in the past.

I understand Bittrex is a for profit endeavor but they will get their commission either way. I also hope they do the right thing. Those who want the refund should get it; those who don't, they'd go ahead. There's no lack of profit for Bittrex either way...

[barabbas]

10% instamine already... in a few hours.

Amazing.

I sure hope Bittrex is watching...

[kozmos]

10% instamine already... in a few hours.

Amazing.

I sure hope Bittrex is watching...

As long as it is a closed source, then it will not be shocking if for example a GPU(s) is being used by that ie scammer for mining and leaving the others to mine using their CPU(s)

[sdersdf3]

10% instamine already... in a few hours.

Amazing.

I sure hope Bittrex is watching...

As long as it is a closed source, then it will not be shocking if for example a GPU(s) is being used by that ie scammer for mining and leaving the others to mine using their CPU(s)

Bittrex appears to have suspended trading:
https://bittrex.com/Market/Index?MarketName=BTC-BYC

[UNO_owner]

Obviously, IconicExplorer lied.

Did you expect anything less?  He's a known liar and thief.

[barabbas]

10% instamine already... in a few hours.

Amazing.

I sure hope Bittrex is watching...

As long as it is a closed source, then it will not be shocking if for example a GPU(s) is being used by that ie scammer for mining and leaving the others to mine using their CPU(s)

Bittrex appears to have suspended trading:
https://bittrex.com/Market/Index?MarketName=BTC-BYC

It has never been open for trade yet so no suspension by Bittrex.

I don't know if IE is benefiting from this instamine of shorts therefore I don't want to entertain any conspiracy theory as of yet. I prefer to believe it is something that went out of his hands, not necessarily by design.

What troubles me enormously is that he will risk what's left of his credibility refusing to do the obvious right thing that is suspending the current launch and properly relaunch instead. Very troubling indeed.

[barabbas]

Obviously, IconicExplorer lied.

Did you expect anything less?  He's a known liar and thief.

I disagree, sorry. I don't believe he's a thief. He has an extreme egocentric personality that more often than not gets the better of him but I know he's not a thief. A liar, he obviously is, but not a thief in my opinion... and no, before you tell me that he stole from the BC people for the Wall Street event, I don't believe he did. He just refused to return the donations, which would have been an impossible task. And no, it is not the same thing. As far as I know -and it is becoming more and more difficult to believe him- he gave to charity not only all the donations but also some of his money too... which, as I have posted when I included him in my WALL OF SHAME, is not acceptable, but it isn't the same as stealing. Quite different in fact.

In any case, I don't believe he is stealing in Bytecent either, but, much like in the donations case, he's playing all the wrong -and unnecessary to boot- notes.

[kozmos]

Obviously, IconicExplorer lied.

Did you expect anything less?  He's a known liar and thief.

I disagree, sorry. I don't believe he's a thief. He has an extreme egocentric personality that more often than not gets the better of him but I know he's not a thief. A liar, he obviously is, but not a thief in my opinion... and no, before you tell me that he stole from the BC people for the Wall Street event, I don't believe he did. He just refused to return the donations, which would have been an impossible task. And no, it is not the same thing. As far as I know -and it is becoming more and more difficult to believe him- he gave to charity not only all the donations but also some of his money too... which, as I have posted when I included him in my WALL OF SHAME, is not acceptable, but it isn't the same as stealing. Quite different in fact.

In any case, I don't believe he is stealing in Bytecent either, but, much like in the donations case, he's playing all the wrong -and unnecessary to boot- notes.

Why did he ban you then when you asked him legit questions and requested him make-sense requests concerning his coin?

[barabbas]

Obviously, IconicExplorer lied.

Did you expect anything less?  He's a known liar and thief.

I disagree, sorry. I don't believe he's a thief. He has an extreme egocentric personality that more often than not gets the better of him but I know he's not a thief. A liar, he obviously is, but not a thief in my opinion... and no, before you tell me that he stole from the BC people for the Wall Street event, I don't believe he did. He just refused to return the donations, which would have been an impossible task. And no, it is not the same thing. As far as I know -and it is becoming more and more difficult to believe him- he gave to charity not only all the donations but also some of his money too... which, as I have posted when I included him in my WALL OF SHAME, is not acceptable, but it isn't the same as stealing. Quite different in fact.

In any case, I don't believe he is stealing in Bytecent either, but, much like in the donations case, he's playing all the wrong -and unnecessary to boot- notes.

Why did he ban you then when you asked him legit questions and requested him make-sense requests concerning his coin?

He has made no secret of the fact that he believes any criticism should be silenced. That's why he launched Bytecent in CoinBlab instead of BTCT. He chooses to consider fud -like 90% of others, mind you- any criticism, regardless how legit.

I cannot rightfully fault him for this -beyond my ABSOLUTE opposition to ANY AND ALL kinds of censorship-, because the ultimately responsibility in the banning lies with the administrators of that place, CoinBlab, that for sure is going nowhere as soon as people realize that they act arbitrarily, like in this case. Everyone digs their own graves one way or another.

[barabbas]

He has made no secret of the fact that he believes any criticism should be silenced. That's why he launched Bytecent in CoinBlab instead of BTCT. He chooses to consider fud -like 90% of others, mind you- any criticism, regardless how legit.

I cannot rightfully fault him for this -beyond my ABSOLUTE opposition to ANY AND ALL kinds of censorship-, because the ultimately responsibility in the banning lies with the administrators of that place, CoinBlab, that for sure is going nowhere as soon as people realize that they act arbitrarily, like in this case. Everyone digs their own graves one way or another.

Who's behind Coinblab - does IE control it?

I doubt he controls it... but who's to know. I know he asked that I would be banned. And got it.

[dload.1]

10% instamine already... in a few hours.

Amazing.

I sure hope Bittrex is watching...

As long as it is a closed source, then it will not be shocking if for example a GPU(s) is being used by that ie scammer for mining and leaving the others to mine using their CPU(s)

Bittrex appears to have suspended trading:
https://bittrex.com/Market/Index?MarketName=BTC-BYC

It has never been open for trade yet so no suspension by Bittrex.

I don't know if IE is benefiting from this instamine of shorts therefore I don't want to entertain any conspiracy theory as of yet. I prefer to believe it is something that went out of his hands, not necessarily by design.

What troubles me enormously is that he will risk what's left of his credibility refusing to do the obvious right thing that is suspending the current launch and properly relaunch instead. Very troubling indeed.

i agree what a mess that launch was. he was claiming it wasn't his fault that some people couldn't get their wallets syncing and even miner pool operaters couldn't get the wallet to mine. no to mention the difficulty retargeting was the problem as alot people even some that were able to mine were telling him. i think he knows it was a disaster but his ego wont let him admit it. if not that ,then he planned the whole thing. either way bittrex should do the right thing and refund or he should relaunch when he is sure everything is working right.

[barabbas]

Ironically, while your investment in Bytecent is losing to the tune of 20-25% by early tomorrow, that same investment is not benefiting from the already 15% that the BTC you invested has gained in the last 7 days... If there's no refund, your losses, before it even starts to trade, would be enormous already. Not that the BTC rise is IE's "fault", but ironic and aggravating none the less.

[illodin]

I -and others- suggested to IE to relaunch more appropriately -and fairly- or issue refunds. He refused.

IconicExpert is not exactly known for issuing refunds.

[TrangLee]

So glad I didn't touch this coin in any way. Tainted meat. 

[btcney]

Who would touch a closed source wallet? 

[J9901]

Barabbas aka IconicExpert

What a sly idea to FUD your own coin to prove a point that Barabbas isn't one of your shills? 

Also:

I disagree, sorry. I don't believe he's a thief. He has an extreme egocentric personality that more often than not gets the better of him but I know he's not a thief. A liar, he obviously is, but not a thief in my opinion... and no, before you tell me that he stole from the BC people for the Wall Street event, I don't believe he did. He just refused to return the donations, which would have been an impossible task. And no, it is not the same thing. As far as I know -and it is becoming more and more difficult to believe him- he gave to charity not only all the donations but also some of his money too... which, as I have posted when I included him in my WALL OF SHAME, is not acceptable, but it isn't the same as stealing. Quite different in fact.

LoL thanks for the epic laugh. But Barabbas good to see you defending yourself..err, I mean,  IconicExpert.


You're not fooling anyone with half a brain buddy.