[ANN] NeuCoin - Easy to use, free to try, focused on micropayments - Official

[RealMalatesta]

Much noise has recently been posted about “Althouse” on this thread. Althouse is simply a software development company that has employed some members of the NeuCoin team prior to launch of the cryptocurrency. It has been doing contract work for the NeuCoin Foundations that will largely finish by the time of launch. It has no power or control over the NeuCoin Project. There are numerous other legal entities that have likewise done contract work for the NeuCoin Project, such as web design agencies, law firms, PR and marketing agencies, jurisdictional consultants, and a game development studio.

Really. So let's listen to Dank:

What is Althouse Development?

We are working on developing a new cryptocurrency. If you have ever heard of bitcoin, it is similar to that. Our founder Daniel has been thinking about creating a new cryptocurrency since January and the team was assembled in June.

[scam confirmed]

By the time of launch, NeuCoin’s three non-profit foundations will be funded with 2.4 billion NeuCoins and at least $1.2 million

"at least $1.2 million"

NeuCoin Code Foundation

[...]

Initial funding:
400 million NeuCoins
$300,000

$300,000

NeuCoin Growth Foundation

[...]

Initial funding:
1 billion NeuCoins
$600,000

$600,000

NeuCoin Utility Foundation

[...]

Initial funding:
1 billion NeuCoins
$600,000

$600,000


$300,000 + $600,000 + $600,000 = $1.5 million

vs

"at least $1.2 million"


Can you elaborate?

[TibanneCat]

The best we can do here is judge based on known and observable facts:
- Neucon pump marketing: Storming many forums, posting only happy events, buttering up the project by promising easy free coins
- Bold claims without backup: Whitepaper, marketing, deadlines
- Not answering displeasing questions in general
- Not answering technical questions or strategical questions with a certain depth
- Engaging an army of sockpuppets
- Banning unpleasent users and calling critics trolls

That's my current perception of Neucon and team and it's gonna take a lot of work to change that.

PS: I don't know if they are scammers, but the behavior makes me believe that the possibility of them being is way more likely than not. Maybe it's all just way over their heads and they don't have the balls to admit it. Who knows for sure, but in the meantime I would highly advise everybody to stay away from Paycon.

no one knows if it will sink or swim but you can keep an eye out for a few indicators:
-What has been the general reception of the crypto community? Not just the Bitcoin one, but also of other major coins such as Doge, Peercoin, Dash and so on.
-Have the set targets been met so far??
-Has the coin secured any significant partnerships?
-Over a year in development and 25 days left to launch, what has been the achievements so far?
-Has the team been transparent and open to criticism in their forum? Or was there censorship?
-Beta is open. Has any impartial tester expressed awe or found any true innovations?
-Does the coin exhibit typical signs of a Pump n Dump??

TIP: you can find all answers in this thread, just be prepared to read  

I'll add another one:
-Does it hide behind strawperson and anonymous off-shores to evade tax and responsibility?

Indeed, skimming through the previous pages will bring up answers for all these points and none of them is looking good for nokoin.
In case of doubts, there's always good old Google

Until the muppets can bring up real, new facts for the issues above, I'll just keep hitting the ignore button

Have fun trolling, DanK

[rizzlarolla]

neucoin Project,
ok, copy and paste, I love it.

Pretty clear most of that,(putting Althouse aside) I have read the wiki.
ok, couple of things from "Role of Founders and Project Team" paragraph,

"Upon creating the decentralized crypto currency,..."
I thought neucoin was not decentralized for another 5 years? When foundations are expected to own less than 50 %. It's not decentralized at creation is it? I thought neucoin were saying "ultimately decentralized" these days?

and,
"200 million sale-restricted coins are retained by the founders and other members of the NeuCoin Project team in exchange for contributing over $1,000,000 of unpaid work from March 2014 through the time of launch in the summer of 2015 (value of $.005 per coin)."
It's a tough sum to work out. For simplicity, if neucoin stayed at approx 1c all year, how much $ value will have been paid? Around $4m is it? For $1m work.?

and,
"The foundations have set aside an additional 300 million sale-restricted coins (plus PoS awards earned on these coins) to release to the founders over the three years following launch as compensation for their providing an additional $2.25 million of unpaid work (value of $.0075 per coin)."
Again, a tough sum. For simplicity, if neucoin stayed at approx 1c for three years, (and voting mech conditions were met) how much $ value will have been paid? Around $12m is it? For $2.25m of work?
Don't forget what Dart said, " I'm concerned as to why you plan to pay the founders after the launch at the value of $0.0075 per coin. Before creation I understand getting it at $0.005. But to get paid at a value under presale prices after launch seems wrong to me."
And being "paid at launch" for work 2-3yrs away has a multiplying effect. The $0.0075 valuation has no meaning or relevance? (in effect you are paid neucoin at $0.0015 ish at yr3. I havn't done the math.)

And, last bit,
" Note that if the foundations fail to institute the voting mechanism described below within one year of launch, the founders forfeit their rights to receive the remaining 200 million coins."
Does that include the stake rewards from day 1 on those 200m neucoin?
(thats a lot to be voting on x3 but..)
Also, is the voting mechanism going to be email based or crypto based? If not known, is email likely? Is email within the conditions of reward? Is the voting mech part of the reason behind 1 address per myneucoin?

(the council hire / fire and 3yr /1yr bit is confusing. can you check if you think it is clear, I'll look again?) And that's it.

So, just a few clarifications here please, and we are all good? hopefully we can then do the freemium verification process?

Oh btw, Dart did ask a while ago "Will the expected expenditures for the year be released at launch?"  So,..
 
If anyone is worried about Dart. He was seen, but not heard on neucoin forum, a few hours ago.
Is he clearing his desk?

[jonald_fyookball]

The French need to get in on this action:

https://bitcoinmagazine.com/21864/south-korean-law-enforcement-launch-investigations-altcoin-pump-dump-schemes/

[OCP]

Okay, so the coin's creators are trying to make money, and the coins will grow with proof-of-stake mining. I don't have a problem with that.

[RealMalatesta]

Okay, so the coin's creators are trying to make money, and the coins will grow with proof-of-stake mining. I don't have a problem with that.

Hi DanK, sure you don't.

[Gekko463]

Let's imagine this is wildly successful.

What is the revenue model?

Which "company" gets the revenues?

In my twisted psychopath opinion, the ONLY way to legitimately make revenues for the founders is a pump.

Giving away coins, minting 100 billion coins, puts downward pressure on the price constantly.

You know who else has 100 billion coins, all mined out?

Dogecoin.  It went viral.  Is used for micropayments!  Is taken in hundreds of places.  Benefits from massive grassroots marketing, and is worth 1/10th of the Neucoin presale price.  The Dogecoin price is the future of the Neucoin price, optimistically.  So no legitimate revenue there.  90% losses at best.

What is the revenue model that continues to pay employees, besides dumping more coins into an already saturated market?

And as to the 2% a month rule, those guys paid 25% of what the dumb public money paid.  Nothing stopped them from buying more in the presale, and dumping those into the inevitable pump.

What company runs "Neucoin" if Althouse was just a contractor?

The entire matrix of companies and foundations is set up for a quick, clean escape for the meat bags who will need to go to jail for tax evasion, securities fraud, and money laundering.  Hi DanK and Sandrine and sock puppets!

Dank gave the order to set up sock-puppets to attack the messengers.

I have the honor of being target #1 because I ask the questions that Dank does not want to address.

Also, I pay my whores in cash, not Neucoins.

Where is the actual business plan that shows the revenue model?

Who holds the keys to the Seychells straw man corporation you slime bag?  Why anonymity if you are not planning to commit crimes?

Answer that.  But you won't, because that's the key to the whole scam.  There is no revenue model besides a pump and dump.  Yours is just fancy.

[OCP]

Okay, so the coin's creators are trying to make money, and the coins will grow with proof-of-stake mining. I don't have a problem with that.

Hi DanK, sure you don't.

Why is creators trying to make money a problem? Why is proof-of-stake mining a problem?

[LiQio]

Okay, so the coin's creators are trying to make money, and the coins will grow with proof-of-stake mining. I don't have a problem with that.

Hi DanK, sure you don't.

Why is creators trying to make money a problem? Why is proof-of-stake mining a problem?

DanK "make money" is a very elastic term, would you mind giving us some projected numbers please.

[OCP]

You're saying creators earning coins is a bad thing. That they're worth too much money. Especially if those coins increase through proof-of-stake mining.

[LiQio]

You're saying creators earning coins is a bad thing. That they're worth too much money. Especially if those coins increase through proof-of-stake mining.

Me, where?

Still waiting for your numbers, though....

[OCP]

Maybe not you, but rizzlarolla did.

neucoin Project,

and,
"200 million sale-restricted coins are retained by the founders and other members of the NeuCoin Project team in exchange for contributing over $1,000,000 of unpaid work from March 2014 through the time of launch in the summer of 2015 (value of $.005 per coin)."
It's a tough sum to work out. For simplicity, if neucoin stayed at approx 1c all year, how much $ value will have been paid? Around $4m is it? For $1m work.?

and,
"The foundations have set aside an additional 300 million sale-restricted coins (plus PoS awards earned on these coins) to release to the founders over the three years following launch as compensation for their providing an additional $2.25 million of unpaid work (value of $.0075 per coin)."
Again, a tough sum. For simplicity, if neucoin stayed at approx 1c for three years, (and voting mech conditions were met) how much $ value will have been paid? Around $12m is it? For $2.25m of work?
Don't forget what Dart said, " I'm concerned as to why you plan to pay the founders after the launch at the value of $0.0075 per coin. Before creation I understand getting it at $0.005. But to get paid at a value under presale prices after launch seems wrong to me."
And being "paid at launch" for work 2-3yrs away has a multiplying effect. The $0.0075 valuation has no meaning or relevance? (in effect you are paid neucoin at $0.0015 ish at yr3. I havn't done the math.)

This is like discussing Fortune 500 CEO pay. Is it really FAIR that they make as much as they do? A gazillion times more than a nurse or a school teacher? No, you probably can't argue that. But if the stock goes up and all shareholders make money too, then they're okay with it. If the stock goes down, then shareholders are not okay with it.

I think it's the same for neucoin, it all depends on how it goes. Either it works and all coin holders make money and it doesn't matter if the creators made 10 or 100 or 1000. Or it doesn't work and then nobody's coins are worth anything anyways.

[RealMalatesta]

What I am saying is the following: For more than 20 years, I've been investigating investment frauds.

Most of the fraudsters had a very good PR-machine. Most of them were hiding parts of their corporate infrastructure. Most of them were not responding to legit questions. Most of them were locking out investors who became too interested about where their money went. Most of them had a whole army of shills working for them. All of them were using names of well-known persons as a tool of reputation.

What I see is that the NeuCoin-team has all of these characteristics. Well, if the coin may be successfull, who knows. One of my clients, however, asked for a dd-report, and some of the parts of this report I've been released - with his consent - in this forum. Some other parts - where I talked to people involved in your team - I can not release yet.

My client's choice was not to invest. For a simple reason: Although such a dd-report is expensive, it is, at the end of the day, cheaper then chasing money.

So you may open a lot more of those throw-away-accounts. Each and everyone will do nothing but prove that the whole story about NeuCoin is somewhat sour.

[jonald_fyookball]

Premine/presale is what people seem to have a problem with.

I think Gekko is right and the coin is overvalued given the supply.

The founding team will be able to support the price for as long as
they choose, but the moment they stop supporting it, it will sink
like a stone.

[OCP]

Premine/presale is what people seem to have a problem with.

I think Gekko is right and the coin is overvalued given the supply.

The founding team will be able to support the price for as long as
they choose, but the moment they stop supporting it, it will sink
like a stone.

Yeah, maybe. But if it flies it flies. And none of this will matter.

[RealMalatesta]

Premine/presale is what people seem to have a problem with.

I think Gekko is right and the coin is overvalued given the supply.

The founding team will be able to support the price for as long as
they choose, but the moment they stop supporting it, it will sink
like a stone.

Yeah, maybe. But if it flies it flies. And none of this will matter.

But if it doesn't fly, all the investors who are not insiders will have lost their investment. This DOES matter.

[LiQio]

... Either it works and all coin holders make money and it doesn't matter if the creators made 10 or 100 or 1000. Or it doesn't work and then nobody's coins are worth anything anyways.

This is a misperception. Neucon is designed in a way that creators control the price for a very long time.

[OCP]

... Either it works and all coin holders make money and it doesn't matter if the creators made 10 or 100 or 1000. Or it doesn't work and then nobody's coins are worth anything anyways.

This is a misperception. Neucon is designed in a way that creators control the price for a very long time.

I don't see it.

[jonald_fyookball]

... Either it works and all coin holders make money and it doesn't matter if the creators made 10 or 100 or 1000. Or it doesn't work and then nobody's coins are worth anything anyways.

This is a misperception. Neucon is designed in a way that creators control the price for a very long time.

I don't see it.

They have billions of neucoins, so they control the supply.

And since they have (reportedly) over $1M they collected
from presale buyers, (and since they are also assumedly
multi millionaires), they can inject demand as well.

So they can greatly influence supply and demand, therefore
they can control the price.

Do you see it now?