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

[tempus]

Neucoin’s work is impressive and it's just a beginning. Many critics were writing that Neucoin will never launch, they will never be listed on exchanges, were is their wallet and etc.

One question is: Was the ICO really sold to the public and was it really a legit launch?

The problem is, if you look at the distribution:

Top 10.......2,967,553,562.06368923 NEU   96.72 %
Top 100.....3,062,105,550.67083359 NEU   99.8 %
Top 1000...3,068,146,816.34814405 NEU   100 %

Where are the 100 Mio sold in the ICO? It's not in Top100-1000. There are only about 6 Mio Coins. That's the staking of 20 hours.

They say:

Hi @takla : approximately 1000 people took part in the presale: https://blockchain.info/address/3MrNuksZ1VePU3dGiSQFiouWerJUJgDkfH
http://forum.neucoin.org/t/investors-in-neucoin/1341


And yes, there are > 1000 transactions. But I looked into it and it's nearly always the same... the BTC went a long way over multiple addresses, and often very fast. There were some big transactions but also very small transactions had a long way before, were splitted before etc.... it's hard to figure out where they came from. And: Why did so many Investors believe it's necessary to send their money through the entire Blockchain instead of sending them directly?

And: If there were about 1000 people who bought the pre-sale, how can it be that they're all in the Top100?

Did they all transact their NEU to the exchanges? If you take a look on Bittrex (Distribution) the answer seems to be no. There isn't much, I would say < 10 Mio, maybe < 7 Mio. And on the sellside are only 498,372 NEU.

If so many would have transacted their NEU to Bittrex I would expect a lot more on the sellside. It's very unusual that there isn't even 1 Mio.


I doubt that there is a lot more on Cryptsy.


And if we look at the official forum. It doesn't seem that there are so much User, right? There are a lot of links and it's visible how often they were clicked. And it also counts clicks of those who are not registered as User. One example, the Thread about the presale:

Hi there!

As promised, here are all the important details about our presale:

It will begin on April 28
100 million NEU to be offered in exchange for BTC
Price starts at $0.01 per NEU and increases by 1% per day
Presale ends after 60 days or when the 100 million tokens have been sold
The presale will happen at www.neucoin.org 69
http://forum.neucoin.org/t/neucoin-presale-to-start-april-28-and-earn-free-neucoins-now/467


Until now there are just 69 clicks on the link to the pre-sale.

If there were about 1000 User who bought the pre-sale I would expect some more clicks than just 69.

And if there were about 1000 User who bought the pre-sale I wouldn't expect to find all the Coins in the Top100...



If I think about all that, self-buying would be my guess. But if that should be right, there is the question "why?". Possible answers:

1. Because otherwise it would have failed
2. To have full control - also about the 100 Mio. And that's just about 3% of the initial supply (3 billion).


My guess is: They saw that there isn't much demand. They recognized that there are not many Users on their forum, not many views on the Mainpage or the Wiki, not many action on Twitter and so on. It wasn't the hype they had expected. So they bought it themselves in three days to let it seem as if there would be much demand, as if it would have been possible to sell more than just 100 Mio.

And than, most likely the plan was to distribute it over the exchanges... with control about supply and price.

But it doesn't seem as if there is a lot more demand now, right? It doesn't seem as if there is more action on their forum... Somebody starts a topic "Serious question" and after 12 hours it has 61 views and 3 replies... that's not very much if there are at least 1000 Investors and after the launch it should be much more... now it's on the exchanges and visible for all.

Or their official Twitter-Account: https://twitter.com/neucoin
The first tweet is over a year ago, but just 819 follower.

Sandrine (CM): https://twitter.com/SandrineAy
joined in 2012, but just 1083 follower


Just for example: https://twitter.com/NeosCoin

It's a high-quality and honest project but without much marketing/PR, still under the radar... more like an Insider-Tip. But it started in August 14 and has more follower than this Mainstream-Neucoin-project?

Weird, right?


So, if I should be right with my guess, that there wasn't enough demand to reach the ICO-terms and that there was selfbuying of those who already owned 97% of the total supply (now more because of staking)... it was a failed ICO.


And what's a fact: Now the Top100 are sitting on 99.8 % of the total supply, staking the hell out of it and everybody who sees that, steps back. And the group behind it, including those they call "angel-investors" and "initial-seed-investors", are in summary 50 people. Not that hard to figure out who is in the Top100. Not many public-investors I would guess. ;-)



And if you think about that... maybe you'll also find an answer to the questions: Why isn't there an official Block-Explorer? Why isn't there much communication? What are the 12 people of the core-team doing? And they started working on that 1 1/2 year ago? What's there? A badly designed forum? A peercoin-fork? A Homepage and a Wiki? That's nothing... Every little 100 Dollar - marketcap-Coin has that.

The only innovation I see is the incredibly high staking-rate and zero distribution. If that's what they've wanted --> mission accomplished.

[1714596916]

1714596916

[1714596916]

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[1714596916]

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[DickSwagger]

Well i did do a survey and got awarded some,but never got a single free coin.And i cant for the life of me see the attraction.Yes you guys can advertise, but more thn that its getting babies like nothing and hardly a use. All uses i find is to get more.
Sry for the negative ,but i see no good here.

[mishax1]

Trying the windows wallet..

If I lock the wallet, there is no way of unlocking it for staking.. (kinda main purpose in a POS wallet).

You could use a cold minting address https://github.com/NeuCoin/neucoin/blob/master/doc/faq.md and keep the spending key out of your computer.

Thats cool, thanks!  But I'll be minting the normal way for the time being..

Should I expect any stake rewards any time soon ?   not sure how the reward system works with Neu..

After 1.6 days (before your Neu are able to mint), it depends on how much you are trying to mint, if the your Neu are spread across multiple address in your wallet and thing like that.

Still no stake..

and I get this message,  "Warning: No sync-checkpoint received for quite a long time."

[elseif]

Trying the windows wallet..

If I lock the wallet, there is no way of unlocking it for staking.. (kinda main purpose in a POS wallet).

You could use a cold minting address https://github.com/NeuCoin/neucoin/blob/master/doc/faq.md and keep the spending key out of your computer.

Thats cool, thanks!  But I'll be minting the normal way for the time being..

Should I expect any stake rewards any time soon ?   not sure how the reward system works with Neu..

After 1.6 days (before your Neu are able to mint), it depends on how much you are trying to mint, if the your Neu are spread across multiple address in your wallet and thing like that.

Still no stake..

and I get this message,  "Warning: No sync-checkpoint received for quite a long time."

I have the same message, but it's working. This message only means that Neucoin didn't synced checkpoint yet. Just check if your wallet is unlocked for minting and you good to go. How much you are trying to mint? If it's small amount it will take longer.

[mishax1]

Trying the windows wallet..

If I lock the wallet, there is no way of unlocking it for staking.. (kinda main purpose in a POS wallet).

You could use a cold minting address https://github.com/NeuCoin/neucoin/blob/master/doc/faq.md and keep the spending key out of your computer.

Thats cool, thanks!  But I'll be minting the normal way for the time being..

Should I expect any stake rewards any time soon ?   not sure how the reward system works with Neu..

After 1.6 days (before your Neu are able to mint), it depends on how much you are trying to mint, if the your Neu are spread across multiple address in your wallet and thing like that.

Still no stake..

and I get this message,  "Warning: No sync-checkpoint received for quite a long time."

I have the same message, but it's working. This message only means that Neucoin didn't synced checkpoint yet. Just check if your wallet is unlocked for minting and you good to go. How much you are trying to mint? If it's small amount it will take longer.

This is only a 4K neu wallet

[jonald_fyookball]

^ impressive post  

Wow, you almost convinced me investor  

Back to reality:
Let's assume that you're not a team member and therefore actually care about facts.
Let's assume further that collecting those links and writing your post took you 5 minutes. OK.
Now, did you know that the Neucon team "earned" ten thousands of coins while you were writing said post?
Sometimes the make more than 50'000 coins in 40 seconds (that equals a 2 BTC ICO investment) (*).

And you really believe that anyone should buy this coin? Really???

(*) proof

So its not just theory.  The premine just keeps growing. 

[czcool]

How to mining?

[mishax1]

^ impressive post  

Wow, you almost convinced me investor  

Back to reality:
Let's assume that you're not a team member and therefore actually care about facts.
Let's assume further that collecting those links and writing your post took you 5 minutes. OK.
Now, did you know that the Neucon team "earned" ten thousands of coins while you were writing said post?
Sometimes the make more than 50'000 coins in 40 seconds (that equals a 2 BTC ICO investment) (*).

And you really believe that anyone should buy this coin? Really???

(*) proof

So its not just theory.  The premine just keeps growing. 

No shit sherlock.. it's POS..  

[scam confirmed]

Trying the windows wallet..

If I lock the wallet, there is no way of unlocking it for staking.. (kinda main purpose in a POS wallet).

You could use a cold minting address https://github.com/NeuCoin/neucoin/blob/master/doc/faq.md and keep the spending key out of your computer.

Thats cool, thanks!  But I'll be minting the normal way for the time being..

Should I expect any stake rewards any time soon ?   not sure how the reward system works with Neu..

After 1.6 days (before your Neu are able to mint), it depends on how much you are trying to mint, if the your Neu are spread across multiple address in your wallet and thing like that.

Still no stake..

and I get this message,  "Warning: No sync-checkpoint received for quite a long time."

I have the same message, but it's working. This message only means that Neucoin didn't synced checkpoint yet. Just check if your wallet is unlocked for minting and you good to go. How much you are trying to mint? If it's small amount it will take longer.

This is only a 4K neu wallet

 

Hey Myeportal, nokoin investor. 
You're staking 3500 nokoin.

With 3500 nokoin staking It will take 18 months, on average, to mint.
You might get lucky and mint sooner,
You might get unlucky and it will take longer to mint.

If you mint in 18 months, as expected, you will get 75% interest. (the monthly rate at that time) = 3940 nokoin interest.
In 18 months founders will have minted and compounded 150x a day =  10,000 nokoin interest.

But will you mint in 18 months?
In 1 years time there are expected to be 8bn nokoin.
You have not minted yet (in 1 year), on average, so still own 3500 nokoin (your original stake)
Founders have minted about 6000 nokoin (on top of their 3500 original stake)
So now there are more than twice as many nokoin.

Now your nokoin are likely, on average, to mint in maybe 4 years.
At the end of year 2, you still own 3500 nokoin, on average. (because yo still haven't minted)
Now your odds of minting are once in 8 years.
You have staked 2 years, now you have 6 years staking left, on average, before you mint.

Even if you now get "lucky", you will only get 67% interest x 24 month = 4620 nokoin
founders will have accrued  compounded interest = 13000 nokoin + (probably vastly more)

You need 100,000 nokoin at least to get anywhere near founders interest rate. (which is withheld from us) Even then you will be left behind faster and faster because of the "super" compounding by founders. (and team ect)

Myeportal, you WILL be an unlucky miner. So will everyone like you.
On average, you will NEVER mint.

TBF nokoin team did warn against "small" nokoiners staking.
But not this clearly why they have no chance of success.
The founders get exponentially richer compared to EVERYBODY else.
Not just the little guy.
It's a ponzi.

(these founders coin coming to the market soon....)

I would be happy for nokoin Project to show us otherwise. Though I don't expect they can.
(these are approx figures. But clearer than theirs at present)

[mishax1]

roger that. 

[m3ndi3]

Neucoin’s work is impressive and it's just a beginning. Many critics were writing that Neucoin will never launch, they will never be listed on exchanges, were is their wallet and etc.

One question is: Was the ICO really sold to the public and was it really a legit launch?

The problem is, if you look at the distribution:

Top 10.......2,967,553,562.06368923 NEU   96.72 %
Top 100.....3,062,105,550.67083359 NEU   99.8 %
Top 1000...3,068,146,816.34814405 NEU   100 %

Where are the 100 Mio sold in the ICO? It's not in Top100-1000. There are only about 6 Mio Coins. That's the staking of 20 hours.

They say:

Hi @takla : approximately 1000 people took part in the presale: https://blockchain.info/address/3MrNuksZ1VePU3dGiSQFiouWerJUJgDkfH
http://forum.neucoin.org/t/investors-in-neucoin/1341


And yes, there are > 1000 transactions. But I looked into it and it's nearly always the same... the BTC went a long way over multiple addresses, and often very fast. There were some big transactions but also very small transactions had a long way before, were splitted before etc.... it's hard to figure out where they came from. And: Why did so many Investors believe it's necessary to send their money through the entire Blockchain instead of sending them directly?

And: If there were about 1000 people who bought the pre-sale, how can it be that they're all in the Top100?

Did they all transact their NEU to the exchanges? If you take a look on Bittrex (Distribution) the answer seems to be no. There isn't much, I would say < 10 Mio, maybe < 7 Mio. And on the sellside are only 498,372 NEU.

If so many would have transacted their NEU to Bittrex I would expect a lot more on the sellside. It's very unusual that there isn't even 1 Mio.


I doubt that there is a lot more on Cryptsy.


And if we look at the official forum. It doesn't seem that there are so much User, right? There are a lot of links and it's visible how often they were clicked. And it also counts clicks of those who are not registered as User. One example, the Thread about the presale:

Hi there!

As promised, here are all the important details about our presale:

It will begin on April 28
100 million NEU to be offered in exchange for BTC
Price starts at $0.01 per NEU and increases by 1% per day
Presale ends after 60 days or when the 100 million tokens have been sold
The presale will happen at www.neucoin.org 69
http://forum.neucoin.org/t/neucoin-presale-to-start-april-28-and-earn-free-neucoins-now/467


Until now there are just 69 clicks on the link to the pre-sale.

If there were about 1000 User who bought the pre-sale I would expect some more clicks than just 69.

And if there were about 1000 User who bought the pre-sale I wouldn't expect to find all the Coins in the Top100...



If I think about all that, self-buying would be my guess. But if that should be right, there is the question "why?". Possible answers:

1. Because otherwise it would have failed
2. To have full control - also about the 100 Mio. And that's just about 3% of the initial supply (3 billion).


My guess is: They saw that there isn't much demand. They recognized that there are not many Users on their forum, not many views on the Mainpage or the Wiki, not many action on Twitter and so on. It wasn't the hype they had expected. So they bought it themselves in three days to let it seem as if there would be much demand, as if it would have been possible to sell more than just 100 Mio.

And than, most likely the plan was to distribute it over the exchanges... with control about supply and price.

But it doesn't seem as if there is a lot more demand now, right? It doesn't seem as if there is more action on their forum... Somebody starts a topic "Serious question" and after 12 hours it has 61 views and 3 replies... that's not very much if there are at least 1000 Investors and after the launch it should be much more... now it's on the exchanges and visible for all.

Or their official Twitter-Account: https://twitter.com/neucoin
The first tweet is over a year ago, but just 819 follower.

Sandrine (CM): https://twitter.com/SandrineAy
joined in 2012, but just 1083 follower


Just for example: https://twitter.com/NeosCoin

It's a high-quality and honest project but without much marketing/PR, still under the radar... more like an Insider-Tip. But it started in August 14 and has more follower than this Mainstream-Neucoin-project?

Weird, right?


So, if I should be right with my guess, that there wasn't enough demand to reach the ICO-terms and that there was selfbuying of those who already owned 97% of the total supply (now more because of staking)... it was a failed ICO.


And what's a fact: Now the Top100 are sitting on 99.8 % of the total supply, staking the hell out of it and everybody who sees that, steps back. And the group behind it, including those they call "angel-investors" and "initial-seed-investors", are in summary 50 people. Not that hard to figure out who is in the Top100. Not many public-investors I would guess. ;-)



And if you think about that... maybe you'll also find an answer to the questions: Why isn't there an official Block-Explorer? Why isn't there much communication? What are the 12 people of the core-team doing? And they started working on that 1 1/2 year ago? What's there? A badly designed forum? A peercoin-fork? A Homepage and a Wiki? That's nothing... Every little 100 Dollar - marketcap-Coin has that.

The only innovation I see is the incredibly high staking-rate and zero distribution. If that's what they've wanted --> mission accomplished.

Thank you so much Tempus for all your great calculations and making it easy for us to understand exactly why there is a problem with this project. I admit I was very much enamored with the "investor" list and the big names that supposedly supported NeuCoin. I joined the community and was very much active and enthusiastic. I bought in the presale and even came up with the Squirrel name- Tippy. They made me moderator and all was good and exciting. Then they started pushing back the release and then investors in the community started asking questions. Priemievalsoup was a big investor and he started asking some serious questions. Being a game developer and having some experience with releasing products, his question on why there was no testnet really struck a chord for me. I asked Sandrine and the other moderators about this, and Sandrine told me the team was doing extensive testing already, and a testnet was not needed.

Fast forward a month later to the supposed launch- they come and say they are pushing back the launch because they need more testing and are releasing a testnet to the presale investors by the end of the month. I was really set off and finally had to leave when the end of the month came, the testnet was not released to us, but they claimed they held their promise because they released to "angel investors."

I never really understood the problem with inflation, and I was impartial to Dan Kaufman's shady past, but I just couldn't get behind a team that I could not trust. Now with all the calculations being clear I finally understand the inflation problem and I understand the silence and dodging of questions. I think like what you said, they don't know what to do now and it's just easier to not say anything. I feel so grateful I was able to sell all my NeuCoin and I was able to break even before it was too late.

Regarding your question on why there isn't much action on the forum... I think back then there was some excitement but that just all faded, and people became disenchanted (at least for me). I ended up just staying quiet because I knew I would never get a real genuine answer :/ It's sad, but I really hope those that did buy from the presale were able to get their BTC back. Thanks again Tempus for breaking everything down and bringing light where there was always shadow.

[xhoneyael]

just keep on revealing the truth about this coin and you will see a massive dump
in bittrex there are 76 BTC buy order i dont think they will leave nothing in hands
maybe its better to cancel now your buy order or you will left out nothing but a coin
that will soon become no value

[moneyhoarder]

Thank you all the "posters" who do everything they can to make Neucoin look bad.

Please don't stop writing. More you writer cheaper I buy  

Also I would like to ask tempus: when you are planning to start buying Neucoin or you already did?

I like how you play with numbers and doom those naive folks. Well on the other hand it's not your first time  

[LiQio]

^ impressive post 

Wow, you almost convinced me investor 

Back to reality:
Let's assume that you're not a team member and therefore actually care about facts.
Let's assume further that collecting those links and writing your post took you 5 minutes. OK.
Now, did you know that the Neucon team "earned" ten thousands of coins while you were writing said post?
Sometimes the make more than 50'000 coins in 40 seconds (that equals a 2 BTC ICO investment) (*).

And you really believe that anyone should buy this coin? Really???

(*) proof

So its not just theory.  The premine just keeps growing. 

Foundation/team fund "growth" is massive.

Looking only at the single biggest of the foundation accounts (currently 1.38 billion coins) - it has staked almost 32 million until now (couple of days). With their other accounts we can roughly assume 60 to 70 million coins.
Compared to the crowdsale amount 100 million coins this is monstrous.
Additionally since the small crowdsale accounts (smaller amounts) grow slower by design and knowing that many ICO buyer sent part of the coins to exchanges (no growth) or didn't immediately start staking the gap widens at high speed.

The regime seems to be asleep (or on the run)

No shit sherlock.. it's POS.. 

PoS != PoS
This is worst case distribution PoS with a totally lethal dose of inflation.

Thank you all the "posters" who do everything they can to make Neucoin look bad.
Please don't stop writing. More you writer cheaper I buy  

Good luck sockpuppet! (Or should we call you Daniel?)

[tempus]

Thank you so much Tempus for all your great calculations and making it easy for us to understand exactly why there is a problem with this project. I admit I was very much enamored with the "investor" list and the big names that supposedly supported NeuCoin. I joined the community and was very much active and enthusiastic. I bought in the presale and even came up with the Squirrel name- Tippy. They made me moderator and all was good and exciting. Then they started pushing back the release and then investors in the community started asking questions. Priemievalsoup was a big investor and he started asking some serious questions. Being a game developer and having some experience with releasing products, his question on why there was no testnet really struck a chord for me. I asked Sandrine and the other moderators about this, and Sandrine told me the team was doing extensive testing already, and a testnet was not needed.

Fast forward a month later to the supposed launch- they come and say they are pushing back the launch because they need more testing and are releasing a testnet to the presale investors by the end of the month. I was really set off and finally had to leave when the end of the month came, the testnet was not released to us, but they claimed they held their promise because they released to "angel investors."

I never really understood the problem with inflation, and I was impartial to Dan Kaufman's shady past, but I just couldn't get behind a team that I could not trust. Now with all the calculations being clear I finally understand the inflation problem and I understand the silence and dodging of questions. I think like what you said, they don't know what to do now and it's just easier to not say anything. I feel so grateful I was able to sell all my NeuCoin and I was able to break even before it was too late.

Regarding your question on why there isn't much action on the forum... I think back then there was some excitement but that just all faded, and people became disenchanted (at least for me). I ended up just staying quiet because I knew I would never get a real genuine answer :/ It's sad, but I really hope those that did buy from the presale were able to get their BTC back. Thanks again Tempus for breaking everything down and bringing light where there was always shadow.

Thank you for your honest statement and for the further insight!

Regarding the Testnet: I didn't know that. Just today I've read about a testnet, about Invitation-Mails to all who bought into the ICO and I asked myself: "How did they manage that nobody will figure out that there (most likely) never was much public investing?"

So, thank you for answering that question. ;-)


Inflation: It's still a mystery to me. I think it's one keypoint. Even if they would do anything right, it would be very hard or even impossible to survive the first 2 years with that design. I mean, they've planned that. In their strategy-paper they say this:

If 100% of all NeuCoins were mined continuously for the ten years following launch, the total supply of NeuCoin tokens would exceed 150 billion (growing over 50X). The estimate of 100 billion coin supply after ten years is based on the assumption that the percentage of coins being mined starts at 100% and linearly declines to 50% by year ten.


And one obvious question is: In which scenario does it make sense to inflate a Currency so extreme? And I believe, we have to think very big if we want to understand what their strategy is (or was). Let's use Facebook as example. FB has about 1.3 billion User. And let's say, Facebook would implement Neucoin and the FB-User would like it and they would tip each other. What would that be? It's what the Neucoin-Team say: It would be microtransactions. It wouldn't be much about value. FB-User wouldn't buy it on Bittrex or any exchange. There would be an easy way to buy it... maybe something like shapeshift or whatever. They would buy it directly from the "Neucoin-Company". And they wouldn't care too much about questions if the price is at 0.00004 or 0.0004 or 0.000002. It would be something like the "thump up - button".

At the same time, the Neucoin-team would have enough to meet every demand. If there is much, they have enough. If there is not much, they could just hold it. But the thing about it is: They would sell it if there should be greater demand. It wouldn't be those who bought into the ICO or now on an exchange. They would sell it to the people if it would be successful and they wouldn't have too much intention for a much higher price. It's about tipping and in the end there would be > 100 billion. Every FB-User could have 100 NEU and tip with that like they press the tump-up-button.

What I want to say with that (and yes, it's speculative): The inflationary design is needed if you believe in huge User-growth and if you want to make money out of that... What does it need for a "tipping-cryptocurrency" to reach the masses? It has to be fast and it has to be easy to use. It should make some fun but before all: You need people who bang the drum for your project, right? And that's the ICO-crowd. They compare it with Bitcoin and tried to make people believe that those who are early could get rich like the BTC-early-adopters. But it's not their strategy I believe. They would sell it and especially because it's not about trading but masses of users they wouldn't have much intention of volatility. They would always have enough of the dust to meet the demand and fix the price at 1 or 2 or 3 Dollarcent and get rich of it.

Maybe that's the strategy... As I said, it's speculative but that could explain the exponential inflation. Because they would always (!) stake a lot more than the public/market.

But if this theory should be right, they made a huge mistake. Because it's a do-it-or-die concept. At least the first two years it would be highly doubtful to grow that much to distribute just what they stake, because the first year it's just a cryptocurrency that would need public-Investors who bang the drum for it. But they wouldn't do that if they don't see any chance for profit. Investors step back if they see that they could invest 1 BTC and the Neucoin-Group stakes that in minutes. They stake in 2 weeks what they claim to have sold to the public.

And maybe they did believe that there would be a hype right from the beginning. And I have to admit: The psychological design is not that bad. They made some things right. They did a good job to raise trust. Because most of the people would think: Okay, they're all public, they're known, they're professionals... they won't scam. And that's right I believe. I don't believe that this is a "run-away-with-the-money-Scam". But they have too much to hide and they made too much mistakes on the way I don't understand. Maybe they are not skilled as Devs. Maybe they can't be transparent because they don't have the money-backing they claim. I can't know that, but there is the fact that they're not transparent. And that's a great mistake. And I don't understand the problems they obviously have with the tech... the delays. Maybe it's just because they have not much experience in Crypto or whatever.

Like you say: "I think back then there was some excitement but that just all faded, and people became disenchanted (at least for me)."

But the biggest mistake is the PoS-rate. It's a dead end because it lowers every chance to survive the first year. They could do everything right, but this project is kind of irrelevant for Crypto-Traders/Investors because of it's inflation. And even if I would trust them that they won't take the money and run away with it... They would have to inflate the market to grow. That's an important aspect for a user-growth-strategy. They would sell it like dust, just cautios enough not to damage the price. At the same time they wouldn't run out of supply because they produce it like dust. So, why should I buy this? To be excited about it and bang the drum for it? ;-)

The problem they can't handle is: It's visible. It's naive to believe that they would be able to grow without some questions about this business-model. In fact they should fear to go mainstream, because if there would be much attention... what would be the feedback about it? Those who are cricital here are most likely like me, little lights in Crypto. But if real Journalists would look into this and ask questions about it... what would be the result? Take a look at http://coinfire.io how they've helped to shred the Paycoin-Scam. What would they write if Neucoin would be big? What would they find if they analyze the BTC-Blockchain, if they analyze the Neucoin-Blockchain... it's not distributed right now, what's obvious a problem for them. But I'm sure they had the plan to spread the supply before they come out with an official BE. Didn't they expect that there could be a richlist before they come out with an official BE?

I don't understand all that. The point is: If they would hold every promise, and if they would be skilled regarding the tech and economy and experienced in Crypto and not so greedy... it could work out. They could have started with 1 billion and a 10%-inflation per year, let the market find a price for it, being transparent and so on... it could be a successful project. It could be interesting for public Investors. I believe that Sandrine could be a good CM if she could be open about what's going on and all that.

But now... they're tipping 200 Users, buying the dumps, are very quiet, disperse the ICO-BTC to multiple addresses... and it looks like fraud.

[tempus]

(...)

Also I would like to ask tempus: when you are planning to start buying Neucoin or you already did?

I like how you play with numbers and doom those naive folks. Well on the other hand it's not your first time  

I don't see any scenario that I would buy this. The reason is pretty simple: If it would go down to 100 sat, just for example, I would ask myself: Who dumped? Was it the team? That would be a safe sign that there isn't any hope left for a higher price. I would expect more dumpings, because they have enough. If the price would go down because all of public investors would sell... why should I buy it?

And you should ask yourself who really tries to doom naive folks. If I would be part of a team that starts a project there would be a Block-Explorer ready before launch. I would be transparent because I know that a project like this one wouldn't have any chance without fully transparency regarding the financial side and the design itself. But I never would be part of a central-bank-inflation-project, because I wouldn't like it to sell my credibility for nothing - and I'm a little light without any plans.

I don't know what you want to say with "it's not your first time".

[rizzlarolla]

M3ndi3 you have my respect.
Who wouldn't have been flattered to be asked to mod.

You were always honest.
Always stayed realistic,
And asked questions when needed.
You did not shill. IMO

I remember the fun days too.
With hind sight, the team never even tried to engage did they?

Tippy was the first and last Idea that happened. I'm glad you were rewarded.
What about languages for launch?
What about the game dev competition?
The other bits n bobs.

Nothing but the bare minimum is ever done, in the most possible time.
nokoin Project are deceiving or purposefully unclear and unspecific.
Promises of clarity forgotten.

If only Darteous had your dignity.
He needs to explain, IMO. He has changed on nokoin.

James mod, very nice, but dim.
Baby.
Why would the professionals leave these two running the ship?

No referal programme at launch, no getnokoin, no block explorer. so basic to install if they were interested.

They never even tried did they?

[rizzlarolla]

Trying the windows wallet..

If I lock the wallet, there is no way of unlocking it for staking.. (kinda main purpose in a POS wallet).

You could use a cold minting address https://github.com/NeuCoin/neucoin/blob/master/doc/faq.md and keep the spending key out of your computer.

Thats cool, thanks!  But I'll be minting the normal way for the time being..

Should I expect any stake rewards any time soon ?   not sure how the reward system works with Neu..

After 1.6 days (before your Neu are able to mint), it depends on how much you are trying to mint, if the your Neu are spread across multiple address in your wallet and thing like that.

Still no stake..

and I get this message,  "Warning: No sync-checkpoint received for quite a long time."

I have the same message, but it's working. This message only means that Neucoin didn't synced checkpoint yet. Just check if your wallet is unlocked for minting and you good to go. How much you are trying to mint? If it's small amount it will take longer.

This is only a 4K neu wallet

 

Hey Myeportal, nokoin investor. 
You're staking 3500 nokoin.

With 3500 nokoin staking It will take 18 months, on average, to mint.
You might get lucky and mint sooner,
You might get unlucky and it will take longer to mint.

If you mint in 18 months, as expected, you will get 75% interest. (the monthly rate at that time) = 3940 nokoin interest.
In 18 months founders will have minted and compounded 150x a day =  10,000 nokoin interest.

But will you mint in 18 months?
In 1 years time there are expected to be 8bn nokoin.
You have not minted yet (in 1 year), on average, so still own 3500 nokoin (your original stake)
Founders have minted about 6000 nokoin (on top of their 3500 original stake)
So now there are more than twice as many nokoin.

Now your nokoin are likely, on average, to mint in maybe 4 years.
At the end of year 2, you still own 3500 nokoin, on average. (because yo still haven't minted)
Now your odds of minting are once in 8 years.
You have staked 2 years, now you have 6 years staking left, on average, before you mint.

Even if you now get "lucky", you will only get 67% interest x 24 month = 4620 nokoin
founders will have accrued  compounded interest = 13000 nokoin + (probably vastly more)

You need 100,000 nokoin at least to get anywhere near founders interest rate. (which is withheld from us) Even then you will be left behind faster and faster because of the "super" compounding by founders. (and team ect)

Myeportal, you WILL be an unlucky miner. So will everyone like you.
On average, you will NEVER mint.

TBF nokoin team did warn against "small" nokoiners staking.
But not this clearly why they have no chance of success.
The founders get exponentially richer compared to EVERYBODY else.
Not just the little guy.
It's a ponzi.

(these founders coin coming to the market soon....)

I would be happy for nokoin Project to show us otherwise. Though I don't expect they can.
(these are approx figures. But clearer than theirs at present)

Myeportal, 3 days ago,
http://forum.neucoin.org/t/how-to-know-if-qt-wallet-is-staking/1670/9
"ok boys and girls, this is bigger than any stake i got from XPY. I think this settles the debate. Less than a week of staking and already proof this works."


MIRICLES....

[jonald_fyookball]

  They made some things right. They did a good job to raise trust.

That's certainly debatable.

[rizzlarolla]

  They made some things right. They did a good job to raise trust.

That's certainly debatable.

Trust in the credability of the list... ok?
The team earned no trust from me.

Sandrine could be good, but she's in on the act. A no no.