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

[jonald_fyookball]

.000037 on cryptsy.

So anyone who invested in the presale is now in the red.

Cut your losses, run for the exits.

These guys aren't even trying to pump it.

Someone wants to buy at .000035.

[Libertymind]

A little bit math about this idea:

"To optimize for growth and adoption, a large share of the foundations’ endowment will be given to consumers in exchange for engaging with, trying out, and referring friends to NeuCoin. Another large block will be awarded to companies that help NeuCoin grow its user base and become more useful: game publishers and content providers that accept microtransactions with NeuCoin tokens, exchanges, wallets, consumer mining services, payment processors, remittance services, discounted group shopping services, marketing and distribution partners and other key services to NeuCoin users. Finally, some will be sold, with proceeds used by the foundations to increase the value of NeuCoin through consumer marketing, utility development, and core coin development."


This is the total supply until now: 3,055,006,939

55 Mio new Coins in a few days (don't know when they did start staking, must be before they went public).


But, they say that the PoS-Rate is 100% per year and we calculate with 2.9 billion they hold. So they stake about 8 Mio new Coins every day.

2.9 billion/12 months = 241,666,666 / 30 = 8,055,555 every day


I calculate it with "just" 8 Mio per day.


By the way: What's 8 Mio at the current price (about 0.00004)? 320 BTC.



Let's say I would like to help Neucoin and be engaged... I ask them if I should make a translation of their Wiki (http://www.neucoin.org/en/wiki/) in my language and that I'll need 20 hours for it. They agree to give me $20 per hour in Neucoin.

At the current price that would be 0.084 BTC = 2,100 Neucoin

20 hours: 42,016 Neucoin


Now they distributed 42,016 Neucoin of the 8 Mio they stake in just one day.

They still have 7,957,983 to distribute. (will they tip them all?)


How many highly supportive guys would they need every day?

8,000,000 / 42,016 = 190 highly supportive user every day(!) to get away what they stake every day(!)





But sure, there are also companies... everybody who'll implement Neucoin will get Neucoin. Let's say a Game-Dev implements it in his Game. And let's say they would give him $40,000 in Neucoin for that. That would be 168 BTC = 4,200,000 Neucoin

Still 3,800,000 Neucoin they have to distribute... "today".


If there is one Game-Dev everyday and they give him $40k in Neucoin for implementing Neucoin, it's still not enough to distribute just what they stake in one day!



And what do they work what is worth to stake 8 Mio Neucoin everyday which is (not really) worth 320 BTC (at 0.00004)?



10 days: 3200 BTC... do they work that much? But sure, it's non-profit. They will just hold it and stake it and wait for all the new supporter everyday who will work 20 hours and the Game-Dev - e v e r y d a y !!!  


And, another fun fact: If the game-Dev (of just one day) would dump his 4.2 Mio Neucoin, because he needs money. What price would that be? He would crash the price to 500 sat or something like that and never would get his 168 BTC.  That's just one reason why he never would accept Neucoin for his work.

So... they would have to pay him in BTC, right? But what will they do with all the staked Neucoins they have to distribute? And do they have that much BTC and are willing to pay all the Game-Devs they need to bring this to mainstream?


But yeah, I forgot... China will accept it as official currency and the three-non-profit-foundations will be Chinas 100%-inflation-central-bank.  


This project is so entertaining!

Excellent Illustration

[italianMiner72]

hi tempus...
i sell my NeuCoin at 6600...
i do a good gain...
i'm waiting for a good support where peoples will accumulate NEW.
but reading you, i think this floor will be really more and more low...

[LiQio]

For the record:
https://i.imgur.com/AZ7RDmE.png

A couple of hours later the Neucon regime has several millions more.

What was the ICO prize again? 1 BTC per 25k Neucon IIRC?
Imagine you were a true "believer" and invested a huge 10 BTC and now sit on 250k whereas the founders make additional millions every couple of hours...

@Neucon regime: as per the strategic plan you'll sell "to fund the cash needs" - what are the cash needs or in other words when will you kill the coin flood the markets with millions/billions of coins?

[Kamatezo]

Wallet ONLINE:

A = 10000 NEU

3 MONTH -- 20 % = 12000 NEU
12 MONTH -- 100 % = 20000 NEU
60 MONTH -- 1600 % = 160000 NEU

Wallet on your own computer( POS )



3 MONTH --  12650 NEU
12 MONTH -- 23960 NEU
60 MONTH -- 254861 NEU !!!

Calculator Wallet on your own computer

https://drive.google.com/file/d/0B88jybqGF86rdHVkeldCYTlHYVE/view?pli=1

Algorytm:

1MONTH

((A * 100%)/12month )+A = (10000 NEU/12month) + 10000 NEU = 833.33 NEU + 10000 NEU = 10833,33 NEU

New A = 10833,33

2MONTH

((A * 97,54%)/12month )+A = (10566,83 NEU/12month) + 10833,33 NEU = 880,56 NEU + 10833,33 NEU = 11713,89 NEU

New A = 11713,89 NEU

3MONTH

((A * 95,93%)/12month )+A = (11237,13 NEU/12month) + 11713,89 NEU = 936,42 NEU + 11713,89 NEU = 12650 NEU

New A = 12650 NEU

My TAG Adress: http://www.neucoin.io/address/NhhKb4sFVHj3kPNZAvNwHMZ8FF47Bakw3a   Morfeus

[scam confirmed]

^
Awesome, thanks!

_{To be fair: 1600 % equals to 60 months (not 120 months)}


BUT STILL:

Growth account:

3 MONTH -- 20 % = 12000 NEU
12 MONTH -- 100 % = 20000 NEU

vs

24/7 staking own device

3 MONTH --  12650 NEU
12 MONTH -- 23960 NEU

means:

The wallet operator retains

- 24.5 % of a growth account user's 3 MONTH account stake

- 28.4 % of a growth account user's 12 MONTH account stake


"Assuming ~ 85% of the total number of coins mine at any given time" (quoted from WhitePaper page 22)

--> GROWTH ACCOUNT USERS LOSE !!!

[LiQio]

^
Additionally the regime gets all the rewards in case someone cancels the growth account before the end of the time period.
It's not pro rata temporis as you would expect from every honest mining undertaking - it's Neucon, where the team earns and all others pay.

[tempus]

hi tempus...
i sell my NeuCoin at 6600...
i do a good gain...
i'm waiting for a good support where peoples will accumulate NEW.
but reading you, i think this floor will be really more and more low...

The price is hard/impossible to predict. Reason is that I don't believe that's a normal market. Most likely it's highly manipulated and most likely they bought themselves the majority of the public ICO and I'm sure that they build the buy-walls. Wouldn't surprise me if they already hold 90% of the public ICO but I can't know that for sure.

What I want to say with that: They have control about the price and it's possible that they won't let it go down too low. It's even possible that they'll let it rise hoping, that a rising price will bring new and more people in. But everybody should know: That's an very old strategy and we saw that in hundreds of little Shitcoin-Scams. It's no mystery to double or quintuple a price if a Whale-Group holds the majority and has enough BTC.


That's a possible scenario in my eyes, because what's pretty sure: The project would die about the price... if it falls too low and they stake their millions every day, nobody will invest in this. Time is really not on their side. Because it won't be easier to explain to new Investors why they should invest if the distribution get's worse. And everybody who sees it the first time and looks into this:
http://www.neucoin.io/richlist

What will he see? A highly centralized supply and just a few addresses with relevant amount on it:

Top 10: own 96.71 % of the total supply
Top 100: own 99.8 % of the total supply

The next what a potential new Investor will recognize is the high staking rate... why should anybody buy 100k of this if they make that amount out of nothing through staking? Every fact is "off-putting".


But that's also the reason why this project is very interesting, because I'm really eager to see what they'll do with that... if they have something like a strategy and it will be visible. But with every scenario they'll have to face some problems.


Example:

They could make much PR and let the price rise at the same time. They could pay for articles, Jango could implement it (but I really doubt that any company would like to be associated with it) and as I said... lifting up volume and price.

What would be the result? Some who don't do any research would buy it. They would get some new Investors in. But: They have at least two serious problems. If they get more attention, they'll also get more attention of people who look deeper and explain what they're doing. As I said: It will be visible. Second problem: It won't be enough. And everytime they sell and distribute Coins, they lose a little bit control about it and they'll make loss with every trade if they have to stable the price in higher ranges.

The third problem, like I said: Time is not on their side, because distribution get's worse. With every day this project looks more bad.



And, what's also very interesting to me, but very speculative: They have some guys with money in it. They have some guys with a big name. And you can be sure they don't want to lose any money and they don't want to lose credibility. So, will the group behind this stay calm? Can they trust each other? Because if they're not united... they can't do much on the market. The one would fear the other. The one builds up buy-support and stabilize the price, the other could dump into it because he lost hope and just wants out.


And if you look on their list... 12 people in the core-team and with strategic-angeld-blablabla-Investors they're many more. I'm sure they are not united and that they are arguing and they don't have a strategy for the project.


There could be a strategy to get out:

They could buy as much they can in lower price-range and just let it down and vanish. That won't be a big problem for the public because the group could buy the majority of all Coins they don't already own. Nearly nobody would complain about it. But.. they would lose much credibility and most likely they won't have any future in Crypto. And it's possible that there are some bigger names who lost money and could hire a lawyer...


But, it's really speculative. What's not speculative in my eyes: This project has no future. It's designed to fail and maybe they believe that it could succeed if there would've been a hype right from the beginning with millions of users, but that's wrong. With millions of new Coins everyday and just 100 Mio on the free market at a price like now... there is absolutely no way. Everybody can calculate how fast they would've to grow to hold the value and give them the opportunity to distribute all that smoke.


And, just another little scenario and another reason why this will never survive: If there are just 100 Mio on the market, and even if there would be a great user-increase and demand so they could inflate the market without damage...  that it would be 200 Mio in 3 months and let's say 1 billion in a year, there would be always the risk that anybody from the core team would dump a large amount. There is no reason to trust a large group that doesn't show any professionality. Who knows if those wallets are really safe? If anybody would get control about the first wallet... he would have control about the whole project. It's so centralized like a central bank and worse, because of the inflation.



So... many words to line out what I believe what will happen. With just a few words: No chance, this will die soon.

[Kamatezo]

^
Awesome, thanks!

_{To be fair: 1600 % equals to 60 months (not 120 months)}


BUT STILL:

Growth account:

3 MONTH -- 20 % = 12000 NEU
12 MONTH -- 100 % = 20000 NEU

vs

24/7 staking own device

3 MONTH --  12650 NEU
12 MONTH -- 23960 NEU

means:

The wallet operator retains

- 24.5 % of a growth account user's 3 MONTH account stake

- 28.4 % of a growth account user's 12 MONTH account stake


"Assuming ~ 85% of the total number of coins mine at any given time" (quoted from WhitePaper page 22)

--> GROWTH ACCOUNT USERS LOSE !!!

Corrected for 60 months.

[Kamatezo]

Wallet ONLINE:

A = 10000 NEU

3 MONTH -- 20 % = 12000 NEU
12 MONTH -- 100 % = 20000 NEU
60 MONTH -- 1600 % = 160000 NEU

Wallet on your own computer( POS )



3 MONTH --  12650 NEU
12 MONTH -- 23960 NEU
60 MONTH -- 254861 NEU !!!

Calculator Wallet on your own computer

https://drive.google.com/file/d/0B88jybqGF86rdHVkeldCYTlHYVE/view?pli=1

Algorytm:

1MONTH

((A * 100%)/12month )+A = (10000 NEU/12month) + 10000 NEU = 833.33 NEU + 10000 NEU = 10833,33 NEU

New A = 10833,33

2MONTH

((A * 97,54%)/12month )+A = (10566,83 NEU/12month) + 10833,33 NEU = 880,56 NEU + 10833,33 NEU = 11713,89 NEU

New A = 11713,89 NEU

3MONTH

((A * 95,93%)/12month )+A = (11237,13 NEU/12month) + 11713,89 NEU = 936,42 NEU + 11713,89 NEU = 12650 NEU

New A = 12650 NEU

My TAG Adress: http://www.neucoin.io/address/NhhKb4sFVHj3kPNZAvNwHMZ8FF47Bakw3a    Morfeus

[tempus]

Yeah, I mean any coin can really be used for "micro transactions"  and in games if the game supports the coin.  So it's not really special, I have been reading through the pages and it looks like nobody likes this coin too much

Interesting about this thread is: Here is much criticism. And in my opinion it's more than justified. BCT is also a place you have to be if you want bring a Crypto to success... Many Dev-teams don't like it, but if they are not active here, there'll be threads and talking about it anyway.

And they started this thread themselves, because they wanted to bang the drum for the project. The question is: Why doesn't they manage the communication? If I were a Dev or a Community-Manager I would see every question, all criticism as opportunity to make PR out of it because I only would stand behind a project if I would see good reasons and than I would have arguments. There wouldn't be (m)any questions I couldn't answer...

But it's obvious that they stay very calm. They don't answer all the questions. They also don't address all those questions into their official forum.

It's just a matter of time that one or two or three Neucoin-User will be more critical and/or asking some questions... and it will be interesting to see what the Neu-Team will do with that. If they answer it or delete it. Because it looks like they don't have good answers. ;-)

[jonald_fyookball]

Yeah, I mean any coin can really be used for "micro transactions"  and in games if the game supports the coin.  So it's not really special, I have been reading through the pages and it looks like nobody likes this coin too much

Interesting about this thread is: Here is much criticism. And in my opinion it's more than justified. BCT is also a place you have to be if you want bring a Crypto to success... Many Dev-teams don't like it, but if they are not active here, there'll be threads and talking about it anyway.

And they started this thread themselves, because they wanted to bang the drum for the project. The question is: Why doesn't they manage the communication? If I were a Dev or a Community-Manager I would see every question, all criticism as opportunity to make PR out of it because I only would stand behind a project if I would see good reasons and than I would have arguments. There wouldn't be (m)any questions I couldn't answer...

But it's obvious that they stay very calm. They don't answer all the questions. They also don't address all those questions into their official forum.

It's just a matter of time that one or two or three Neucoin-User will be more critical and/or asking some questions... and it will be interesting to see what the Neu-Team will do with that. If they answer it or delete it. Because it looks like they don't have good answers. ;-)

They already were doomed from the beginning.  Just a bad distribution design.  Too much inflation.  They were trying to make something secure but that's not the way to do it.  Also, too many lies, like the claims about their whitepaper (which they now seemed to have corrected).  They would have be better off with a fixed supply like NXT and being completely honest about everything.  They might have actually had a shot at some level of success.  But with all the lies, bad communication , and horrible inflation, they have almost zero chance to get traction, at least as far as people wanting to invest in the coin.  And that won't help them get companies to accept it since its almost a worthless token.  I still don't get why any company would adopt neucoin for their users instead of Bitcoin, unless they were being paid a lot of money to do it.

 

[scam confirmed]

Corrected for 60 months.

Great! Adding:


Growth account:

3 MONTH -- 20 % = 12000 NEU
12 MONTH -- 100 % = 20000 NEU
60 MONTH -- 1600 % = 160000 NEU

vs

24/7 staking own device

3 MONTH --  12650 NEU
12 MONTH -- 23960 NEU
60 MONTH -- 254861 NEU !!!

means:

The wallet operator retains

- 24.5 % of a growth account user's 3 MONTH account stake

- 28.4 % of a growth account user's 12 MONTH account stake

- 38.7 % of a growth account user's 60 MONTH account stake


"Assuming ~ 85% of the total number of coins mine at any given time" (quoted from WhitePaper page 22)

--> GROWTH ACCOUNT USERS LOSE !!!

Additionally the regime gets all the rewards in case someone cancels the growth account before the end of the time period.
It's not pro rata temporis as you would expect from every honest mining undertaking - it's Neucon, where the team earns and all others pay.

[tempus]

Yeah, I mean any coin can really be used for "micro transactions"  and in games if the game supports the coin.  So it's not really special, I have been reading through the pages and it looks like nobody likes this coin too much

Interesting about this thread is: Here is much criticism. And in my opinion it's more than justified. BCT is also a place you have to be if you want bring a Crypto to success... Many Dev-teams don't like it, but if they are not active here, there'll be threads and talking about it anyway.

And they started this thread themselves, because they wanted to bang the drum for the project. The question is: Why doesn't they manage the communication? If I were a Dev or a Community-Manager I would see every question, all criticism as opportunity to make PR out of it because I only would stand behind a project if I would see good reasons and than I would have arguments. There wouldn't be (m)any questions I couldn't answer...

But it's obvious that they stay very calm. They don't answer all the questions. They also don't address all those questions into their official forum.

It's just a matter of time that one or two or three Neucoin-User will be more critical and/or asking some questions... and it will be interesting to see what the Neu-Team will do with that. If they answer it or delete it. Because it looks like they don't have good answers. ;-)

They already were doomed from the beginning.  Just a bad distribution design.  Too much inflation.  They were trying to make something secure but that's not the way to do it.  Also, too many lies, like the claims about their whitepaper (which they now seemed to have corrected).  They would have be better off with a fixed supply like NXT and being completely honest about everything.  They might have actually had a shot at some level of success.  But with all the lies, bad communication , and horrible inflation, they have almost zero chance to get traction, at least as far as people wanting to invest in the coin.  And that won't help them get companies to accept it since its almost a worthless token.  I still don't get why any company would adopt neucoin for their users instead of Bitcoin, unless they were being paid a lot of money to do it.

 

Yes, agree... The bad communication is a direct result of the bad design (huge premine, no distribution, incredibly high inflation etc). Because they can't be honest about that, they can't answer questions and give good arguments how that should work.

What I believe is this: They believed it would be enough and would lead into a hype to have "big names" behind it. They made a wiki and all looks kind of professional and official and with huge money backing... for some it looks like that what everybody is waiting for. And funny is: Some believe in it with the argument: Such big names, it's impossible that they're not know what they're doing. I think that's on what they counted... Something like a hype, growing out of itself.

But it's really laughable, because this could hype like nothing before and they wouldn't be able to handle their billion-supply they hold and the hundreds of millions they stake every month. It's mathematical-bullshit. Wouldn't be necessary to speak about anything else, if it's a planned scam or not. Doesn't matter, because that's the key point in my eyes and in any way this project has no chance and never had.

And like I said more than just once: I don't understand how it can be possible that people with some brain and a calculator develop a project like this with an economy as we see... Most of us here would develop a much better economic-strategy in 24 hours.

With other words: That this project is doomed is obvious and no mystery. The mystery for me is... how the hell is it possible that the team itself believed or even still believes (doubt that) in something like that?


Btw... yesterday I wrote:

September 29, 2015, 07:40:18 PM

This is the total supply until now: 3,055,006,939

(...)

Today (now) it's:  3,062,920,481


Plus 7,913,842 new Coins out of nothing in a few hours.

In BTC at the current price (0.000039) = 308,64 BTC ..........o u t o f n o t h i n g !!!



@Neucoin-Team:

1. How much new user would be needed to distribute those new coins through tips if you would like to give everybody 1000 NEU?

2. How much would just that new supply crash the price if these 7,913 new user would sell those Coins now on Bittrex and if you pull your own buywalls before?

3. How much new coins will be there in ten days if you just hold all what you stake....and stake it again and again?

[tempus]

Funny guy:

http://forum.neucoin.org/t/professional-reasons-of-why-i-like-neucoin-team/1839

[valta4065]

Got a new warning at bottom corner of wallet No sync checkpoint received for quite along time yet there is a check mark showing it is syned, whats up with that now?

[newtoallofthis2]

And they started this thread themselves, because they wanted to bang the drum for the project. The question is: Why doesn't they manage the communication? If I were a Dev or a Community-Manager I would see every question, all criticism as opportunity to make PR out of it because I only would stand behind a project if I would see good reasons and than I would have arguments. There wouldn't be (m)any questions I couldn't answer...

I guess they gave up as they got attacked so much - much of it was petty nonsense (NeuCon, NoCoin), some of it slightly offensive, some of it highly so. On the fist page the casual sexism kicked off "Sandrine is pretty" then Scam Confirmed et al signed up and pathologically began attacking every single element of it - its a pump and dump, its a scam project, the marketing is shit, the name is shit, its securities fraud, its tax fraud, the price is crashing - ha ha, the price is rising - they must be pumping the market...Someone with some time on their hands should go through and document all of the theories that have been shared on this thread.

Any of the NeuCoin team that posted on here seem to have been shouted down and or attacked - even when they were providing answers and so I guess now they don't bother.

Its a real shame, as I think in particular the inflationary question would be really interesting to hear their answers on....

[elseif]

Got a new warning at bottom corner of wallet No sync checkpoint received for quite along time yet there is a check mark showing it is syned, whats up with that now?

This message doesn't mean that something is wrong on your end, it means that Neucoin haven't published any sync-checkpoint yet. You should also check if your wallet is unlocked for minting and you should be good.

Follow this thread for more info - http://forum.neucoin.org/t/warning-message-on-qt-wallet/1835

[Kamatezo]

Got a new warning at bottom corner of wallet No sync checkpoint received for quite along time yet there is a check mark showing it is syned, whats up with that now?

It will take 1.6 days to began coinage

[LiQio]

[...]
Its a real shame, as I think in particular the inflationary question would be really interesting to hear their answers on....

So let's ask.