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

[alexhiggins732]

https://i.imgur.com/hO1wbNR.png

The Neucon regime had to buy heavy amounts (more than 430,000 on bittrex only) during the last hours.
Without their buy support, the price would be zero (or very near zero).

https://i.imgur.com/lmNAR0T.png

In the end they'll hold 99.99999% of the total supply, and 99.999% of the market-supply. ;-)

While you have made many good points,I don't think this one has any basis.

It is evident that foundations are not buying the coin to support the price, which is why it has fell so sharply. I have seen an 18 neu (less than .10 usd) sale drop the price 10%.

The increase in wealth displayed on these graphs comes not from buying on the exchange but instead from "interest" their accounts are gaining from staking.

For proof you need only look at the block chain. About every two minutes  two PoS award gets posted and they usually result in a payout of 1000-10000 in Neu.

Because they hold so much neu, their accounts stake while others are waiting weeks or months to stake.

That's why their holdings are growing so much, not because they are buying on Bittrex. The buy limit orders on Bittrex are another fraud. As soon as the bid gets anywhere near the bigger buy orders they are cancelled and re-entered with a much lower bid.

For example, the 18+btc bid a day or two ago was "buying" at 0.00002375..f and was much larger... as soon as some one bought few, the order was cancelled and the bid was lowered to .00002000. Those orders a facade giving the impression that coin is actually being backed by real money.

[tempus]

While you have made many good points,I don't think this one has any basis.

It is evident that foundations are not buying the coin to support the price, which is why it has fell so sharply. I have seen an 18 neu (less than .10 usd) sale drop the price 10%.

The increase in wealth displayed on these graphs comes not from buying on the exchange but instead from "interest" their accounts are gaining from staking.

For proof you need only look at the block chain. About every two minutes  two PoS award gets posted and they usually result in a payout of 1000-10000 in Neu.

Because they hold so much neu, their accounts stake while others are waiting weeks or months to stake.

That's why their holdings are growing so much, not because they are buying on Bittrex. The buy limit orders on Bittrex are another fraud. As soon as the bid gets anywhere near the bigger buy orders they are cancelled and re-entered with a much lower bid.

For example, the 18+btc bid a day or two ago was "buying" at 0.00002375..f and was much larger... as soon as some one bought few, the order was cancelled and the bid was lowered to .00002000. Those orders a facade giving the impression that coin is actually being backed by real money.

You believe any real investor would buy this:



...on Bittrex? I know that their holdings grow because of staking.

But there is no staking on bittrex. So why should anybody else buy millions on bittrex and hold them on bittrex?

And where would the price be without the buy-walls? And it's visible that the first two accounts grow when there is selling.


Edit: You're right that the foundations are not buying if that implies you would see it on the foundation addresses. What I say: It's the team and they hold it on bittrex. Now it's at 4,225,552, so the screenshots are not actual.

[scam confirmed]

And, for the record, a mod has contacted me via IRC and asked for my debug logs to troubleshoot the issue while suggesting that perhaps I was somehow "seperated" from the network and being the only mining pool would make me vulnerable to such disconnection.

I kindly replied, that I was on the internet the entire time, as was the daemon running neucoin.io's block explorer and even the daemon that is feed the official block explorer, all of which report the same block chain with the same PoW awards for hours before forwarding the logs.

While not part of that response, truth is during the entire time that as everyone else was connected to the "network" known as the internet that all other wallets connect to, the foundation's wallets failed to mine, which are the only wallets with enough funds to mine with any frequency. After hours of not mining, with the pool getting 100k+ in mining rewards, the block chain just ends up entirely being replaced with the foundations wallets earning the interest they would have if their wasn't an outage in their internal network.

Hmmm.... Maybe it was some kind of unintentional(?) 51%-attack. ;-) 

Looks like we are dealing with some kind of "unintentional" (because incompetence) timedrift exploit:

It seems like a flaw that doesn't affect PPC, but could effect other PPC clones with narrower parms

...to Sunny King's defense, it's a flaw that could exist when Peercoin is redesigned in a clone coin fork in a way that doesn't work the same way Peercoin was designed.

Peercoin is exempt from this problem because of the maturity as you stated and I brought up.  Other coins that fork peercoin and start making changes to its code need to understand why the "parms" are what they are in Peercoin. They're carefully thought out and decided before Peercoin launched.

Peercoin isn't written to be idiot proof (industry term) for new coin creation on forked github projects.  If some one wants to use the code and make their own forked coin, they need to understand how and why Peercoin works the way it does.  Not what file to edit, to change the "parms" and that's it.

Sunny did leave a comment in the code that is very interesting (that I bet a lot of PoS coin devs didn't read or if they did, did not understand)

    // The following split & combine thresholds are important to security
    // Should not be adjusted if you don't understand the consequences

http://www.peercointalk.org/index.php?topic=2058.0

That's one example.  Not necessarily about what we're talking about here. But it's an example how some newbie coin devs just change "parms" numbers, work on a pretty looking gui wallet, and release a forked clone that is a bad implementation of PoS.

https://www.peercointalk.org/index.php?topic=3931.msg37783#msg37783

[m3ndi3]

No official reply at all from neucoin team about what alexhiggens found :-/ I recall sandrine saying "once the coin is launched the floodgates (communication) would open again". Heck their Twitter wasn't even updated since October 15... You would think they would have let people know their Survey coins were released. Their is literally nothing you can do with the coin except lock it away in a growth account or sell it for Bitcoin. Facebook HTML5 games do not take more than 7, 5, 3 or even 2 months to make. The launch was supposed to be 2 months ago and they told us that the game was getting made since then. The problem is they probably don't have an API to connect to their web wallet and have no idea what to do since their head dev kuroush is gone.

There's 4 btc left on .00002300 and then the next one is 12 btc for .00002200 ...

[LiQio]

http://forum.neucoin.org/t/3-5-hours-of-transactions-removed-from-the-block-chain/2057/21

alexhiggins732: "I apologize for throwing around word like fraud and pointing my finger at the foundations which hold these addresses, and perhaps I am being too loose with such terms, but the longer I wait the more infuriating this becomes."

No, Alex, it's okay to use those kind of words when you refer to Neucon and the NoKoin regime.
I can only advise everybody to start reading this thread from page 1. Grab a beer and invest the time.

[tempus]

And, for the record, a mod has contacted me via IRC and asked for my debug logs to troubleshoot the issue while suggesting that perhaps I was somehow "seperated" from the network and being the only mining pool would make me vulnerable to such disconnection.

I kindly replied, that I was on the internet the entire time, as was the daemon running neucoin.io's block explorer and even the daemon that is feed the official block explorer, all of which report the same block chain with the same PoW awards for hours before forwarding the logs.

While not part of that response, truth is during the entire time that as everyone else was connected to the "network" known as the internet that all other wallets connect to, the foundation's wallets failed to mine, which are the only wallets with enough funds to mine with any frequency. After hours of not mining, with the pool getting 100k+ in mining rewards, the block chain just ends up entirely being replaced with the foundations wallets earning the interest they would have if their wasn't an outage in their internal network.

Hmmm.... Maybe it was some kind of unintentional(?) 51%-attack. ;-) 

Looks like we are dealing with some kind of "unintentional" (because incompetence) timedrift exploit:

It seems like a flaw that doesn't affect PPC, but could effect other PPC clones with narrower parms

...to Sunny King's defense, it's a flaw that could exist when Peercoin is redesigned in a clone coin fork in a way that doesn't work the same way Peercoin was designed.

Peercoin is exempt from this problem because of the maturity as you stated and I brought up.  Other coins that fork peercoin and start making changes to its code need to understand why the "parms" are what they are in Peercoin. They're carefully thought out and decided before Peercoin launched.

Peercoin isn't written to be idiot proof (industry term) for new coin creation on forked github projects.  If some one wants to use the code and make their own forked coin, they need to understand how and why Peercoin works the way it does.  Not what file to edit, to change the "parms" and that's it.

Sunny did leave a comment in the code that is very interesting (that I bet a lot of PoS coin devs didn't read or if they did, did not understand)

    // The following split & combine thresholds are important to security
    // Should not be adjusted if you don't understand the consequences

http://www.peercointalk.org/index.php?topic=2058.0

That's one example.  Not necessarily about what we're talking about here. But it's an example how some newbie coin devs just change "parms" numbers, work on a pretty looking gui wallet, and release a forked clone that is a bad implementation of PoS.

https://www.peercointalk.org/index.php?topic=3931.msg37783#msg37783

Nice find! Most likely it's something like that and they just don't have any clue what to do - incompetence.

There is absolutely no reason that they are completely quiet about that, unless they absolutely don't know.... what to do and how to fix it.

Otherwise: They are completely quiet about a lot of issues. I'm sure that they know since some time that it's done.

[peonminer]

SCammy Teh Squirrel

[tempus]

No official reply at all from neucoin team about what alexhiggens found :-/ I recall sandrine saying "once the coin is launched the floodgates (communication) would open again". Heck their Twitter wasn't even updated since October 15... You would think they would have let people know their Survey coins were released. Their is literally nothing you can do with the coin except lock it away in a growth account or sell it for Bitcoin. Facebook HTML5 games do not take more than 7, 5, 3 or even 2 months to make. The launch was supposed to be 2 months ago and they told us that the game was getting made since then. The problem is they probably don't have an API to connect to their web wallet and have no idea what to do since their head dev kuroush is gone.

There's 4 btc left on .00002300 and then the next one is 12 btc for .00002200 ...

Before they gave out the survey coins I said that they couldn't give them out, because people would dump them but they also can not hold them back.

What they did is some kind of middle ground. They gave them out but without leading any attention on that. And it's obviously not that easy to get them.

So, nobody can say they didn't give the coins out, but it's also not too much what they had to give out. It could be called smart, but what it shows is desperation.


By the way: They still need a lot of money...
https://blockchain.info/address/3MrNuksZ1VePU3dGiSQFiouWerJUJgDkfH

[rizzlarolla]

http://forum.neucoin.org/t/3-5-hours-of-transactions-removed-from-the-block-chain/2057/21

alexhiggins732: "I apologize for throwing around word like fraud and pointing my finger at the foundations which hold these addresses, and perhaps I am being too loose with such terms, but the longer I wait the more infuriating this becomes."

No, Alex, it's okay to use those kind of words when you refer to Neucon and the NoKoin regime.
I can only advise everybody to start reading this thread from page 1. Grab a beer and invest the time.

I agree. But most wont spend the time.

Whatever this turns out to be, nokoin control this centralised network. You are ALWAYS under their control?
They can change history anytime they like, IF they want to.
They own 99% of the trust.
http://forum.neucoin.org/t/technical-questions-and-clarifications/531/18

Alex, what I don't really understand is...

alexhiggins,
"Malicious or Incompetence? I don't care to debate.... honestly. I just want it fixed..."
http://forum.neucoin.org/t/3-5-hours-of-transactions-removed-from-the-block-chain/2057/19

...You want this fixed so you can carry on, regardless of fraud or incompetence?

Sorry I dont get it.
Is it all about profit? (I can only assume nokoin pow is very profitable for you?) or what else motivates you here?
(If you believe in nokoin long term, why wouldn't you care about fraud?)

[tempus]

http://forum.neucoin.org/t/3-5-hours-of-transactions-removed-from-the-block-chain/2057/21

alexhiggins732: "I apologize for throwing around word like fraud and pointing my finger at the foundations which hold these addresses, and perhaps I am being too loose with such terms, but the longer I wait the more infuriating this becomes."

No, Alex, it's okay to use those kind of words when you refer to Neucon and the NoKoin regime.
I can only advise everybody to start reading this thread from page 1. Grab a beer and invest the time.

I agree. But most wont spend the time.

Whatever this turns out to be, nokoin control this centralised network. You are ALWAYS under their control?
They can change history anytime they like, IF they want to.
They own 99% of the trust.
http://forum.neucoin.org/t/technical-questions-and-clarifications/531/18

Alex, what I don't really understand is...

alexhiggins,
"Malicious or Incompetence? I don't care to debate.... honestly. I just want it fixed..."
http://forum.neucoin.org/t/3-5-hours-of-transactions-removed-from-the-block-chain/2057/19

...You want this fixed so you can carry on, regardless of fraud or incompetence?

Sorry I dont get it.
Is it all about profit? (I can only assume nokoin pow is very profitable for you?) or what else motivates you here?
(If you believe in nokoin long term, why wouldn't you care about fraud?)

He is a miner and wants to make some money as long as it goes. I can't blame him for that.

Everybody without a horse in this race already know what it is.. and that nobody should touch it. In fact it's already dead - like a zombie.

[rizzlarolla]

http://forum.neucoin.org/t/3-5-hours-of-transactions-removed-from-the-block-chain/2057/21

alexhiggins732: "I apologize for throwing around word like fraud and pointing my finger at the foundations which hold these addresses, and perhaps I am being too loose with such terms, but the longer I wait the more infuriating this becomes."

No, Alex, it's okay to use those kind of words when you refer to Neucon and the NoKoin regime.
I can only advise everybody to start reading this thread from page 1. Grab a beer and invest the time.

I agree. But most wont spend the time.

Whatever this turns out to be, nokoin control this centralised network. You are ALWAYS under their control?
They can change history anytime they like, IF they want to.
They own 99% of the trust.
http://forum.neucoin.org/t/technical-questions-and-clarifications/531/18

Alex, what I don't really understand is...

alexhiggins,
"Malicious or Incompetence? I don't care to debate.... honestly. I just want it fixed..."
http://forum.neucoin.org/t/3-5-hours-of-transactions-removed-from-the-block-chain/2057/19

...You want this fixed so you can carry on, regardless of fraud or incompetence?

Sorry I dont get it.
Is it all about profit? (I can only assume nokoin pow is very profitable for you?) or what else motivates you here?
(If you believe in nokoin long term, why wouldn't you care about fraud?)

He is a miner and wants to make some money as long as it goes. I can't blame him for that.

Everybody without a horse in this race already know what it is.. and that nobody should touch it. In fact it's already dead - like a zombie.

I agree, as a miner he needs to make money. No problem there.
Just wondered if that was the only motivation to not care if he's been defrauded upto now.

By exposing this "irregularity", the question of fraud needs answering regardless weather Alex cares or not. "Others" will care to know.
If mining nokoin (pow) IS all about profit, and Alex has been defrauded, then I would think he should at least "care" to note that fact.

[tempus]

http://forum.neucoin.org/t/3-5-hours-of-transactions-removed-from-the-block-chain/2057/21

alexhiggins732: "I apologize for throwing around word like fraud and pointing my finger at the foundations which hold these addresses, and perhaps I am being too loose with such terms, but the longer I wait the more infuriating this becomes."

No, Alex, it's okay to use those kind of words when you refer to Neucon and the NoKoin regime.
I can only advise everybody to start reading this thread from page 1. Grab a beer and invest the time.

I agree. But most wont spend the time.

Whatever this turns out to be, nokoin control this centralised network. You are ALWAYS under their control?
They can change history anytime they like, IF they want to.
They own 99% of the trust.
http://forum.neucoin.org/t/technical-questions-and-clarifications/531/18

Alex, what I don't really understand is...

alexhiggins,
"Malicious or Incompetence? I don't care to debate.... honestly. I just want it fixed..."
http://forum.neucoin.org/t/3-5-hours-of-transactions-removed-from-the-block-chain/2057/19

...You want this fixed so you can carry on, regardless of fraud or incompetence?

Sorry I dont get it.
Is it all about profit? (I can only assume nokoin pow is very profitable for you?) or what else motivates you here?
(If you believe in nokoin long term, why wouldn't you care about fraud?)

He is a miner and wants to make some money as long as it goes. I can't blame him for that.

Everybody without a horse in this race already know what it is.. and that nobody should touch it. In fact it's already dead - like a zombie.

I agree, as a miner he needs to make money. No problem there.
Just wondered if that was the only motivation to not care if he's been defrauded upto now.

By exposing this "irregularity", the question of fraud needs answering regardless weather Alex cares or not. "Others" will care to know.
If mining nokoin (pow) IS all about profit, and Alex has been defrauded, then I would think he should at least "care" to note that fact.

I think he does care and he already called it fraud, even if he does it subtile. He could have hide it what he didn't. That he made it obvious for everybody to see, including some possible scenarios so that everybody can come to own conclusions, is enough.

And now everybody can think about the question why there is no reaction and no explanation or some information from the team since 20 hours.

[rizzlarolla]

http://forum.neucoin.org/t/3-5-hours-of-transactions-removed-from-the-block-chain/2057/21

alexhiggins732: "I apologize for throwing around word like fraud and pointing my finger at the foundations which hold these addresses, and perhaps I am being too loose with such terms, but the longer I wait the more infuriating this becomes."

No, Alex, it's okay to use those kind of words when you refer to Neucon and the NoKoin regime.
I can only advise everybody to start reading this thread from page 1. Grab a beer and invest the time.

I agree. But most wont spend the time.

Whatever this turns out to be, nokoin control this centralised network. You are ALWAYS under their control?
They can change history anytime they like, IF they want to.
They own 99% of the trust.
http://forum.neucoin.org/t/technical-questions-and-clarifications/531/18

Alex, what I don't really understand is...

alexhiggins,
"Malicious or Incompetence? I don't care to debate.... honestly. I just want it fixed..."
http://forum.neucoin.org/t/3-5-hours-of-transactions-removed-from-the-block-chain/2057/19

...You want this fixed so you can carry on, regardless of fraud or incompetence?

Sorry I dont get it.
Is it all about profit? (I can only assume nokoin pow is very profitable for you?) or what else motivates you here?
(If you believe in nokoin long term, why wouldn't you care about fraud?)

He is a miner and wants to make some money as long as it goes. I can't blame him for that.

Everybody without a horse in this race already know what it is.. and that nobody should touch it. In fact it's already dead - like a zombie.

I agree, as a miner he needs to make money. No problem there.
Just wondered if that was the only motivation to not care if he's been defrauded upto now.

By exposing this "irregularity", the question of fraud needs answering regardless weather Alex cares or not. "Others" will care to know.
If mining nokoin (pow) IS all about profit, and Alex has been defrauded, then I would think he should at least "care" to note that fact.

I think he does care and he already called it fraud, even if he does it subtile. He could have hide it what he didn't. That he made it obvious for everybody to see, including some possible scenarios so that everybody can come to own conclusions, is enough.

And now everybody can think about the question why there is no reaction and no explanation or some information from the team since 20 hours.

Hey I'm not trying to knock Alex,
Just trying to understand why malicious behaviour, leading to fraud does not matter.

I respect his candour.

The silence from nokoin is far more substantial.
Not even an acknowledgement of Alex concerns.
All team and mods seem to just disappear.
As Alex stated the longer he waits for an answer, the more frustrated he is/will become.

[tempus]

http://forum.neucoin.org/t/3-5-hours-of-transactions-removed-from-the-block-chain/2057/21

alexhiggins732: "I apologize for throwing around word like fraud and pointing my finger at the foundations which hold these addresses, and perhaps I am being too loose with such terms, but the longer I wait the more infuriating this becomes."

No, Alex, it's okay to use those kind of words when you refer to Neucon and the NoKoin regime.
I can only advise everybody to start reading this thread from page 1. Grab a beer and invest the time.

I agree. But most wont spend the time.

Whatever this turns out to be, nokoin control this centralised network. You are ALWAYS under their control?
They can change history anytime they like, IF they want to.
They own 99% of the trust.
http://forum.neucoin.org/t/technical-questions-and-clarifications/531/18

Alex, what I don't really understand is...

alexhiggins,
"Malicious or Incompetence? I don't care to debate.... honestly. I just want it fixed..."
http://forum.neucoin.org/t/3-5-hours-of-transactions-removed-from-the-block-chain/2057/19

...You want this fixed so you can carry on, regardless of fraud or incompetence?

Sorry I dont get it.
Is it all about profit? (I can only assume nokoin pow is very profitable for you?) or what else motivates you here?
(If you believe in nokoin long term, why wouldn't you care about fraud?)

He is a miner and wants to make some money as long as it goes. I can't blame him for that.

Everybody without a horse in this race already know what it is.. and that nobody should touch it. In fact it's already dead - like a zombie.

I agree, as a miner he needs to make money. No problem there.
Just wondered if that was the only motivation to not care if he's been defrauded upto now.

By exposing this "irregularity", the question of fraud needs answering regardless weather Alex cares or not. "Others" will care to know.
If mining nokoin (pow) IS all about profit, and Alex has been defrauded, then I would think he should at least "care" to note that fact.

I think he does care and he already called it fraud, even if he does it subtile. He could have hide it what he didn't. That he made it obvious for everybody to see, including some possible scenarios so that everybody can come to own conclusions, is enough.

And now everybody can think about the question why there is no reaction and no explanation or some information from the team since 20 hours.

Hey I'm not trying to knock Alex,
Just trying to understand why malicious behaviour, leading to fraud does not matter. 

I know. Didn't want to say that, just round off what you said. ;-)

 

I respect his candour.

The silence from nokoin is far more substantial.
Not even an acknowledgement of Alex concerns.
All team and mods seem to just disappear.
As Alex stated the longer he waits for an answer, the more frustrated he is/will become.

They are still there, but I believe they're leaving. Maybe some members already left the sinking ship. And I'm sure, they all regret. In 10 years, when everybody will google their names, the Neucoin-story will be still there.

[tempus]

The first reaction!!!


ophelie:

Hi,

We're currently restructuring our mining infrastructure, hence the slowed down network for a few hours. When relaunching the client, it mined while syncing. This is why it mined a longer chain than the one with the PoW blocks that got orphaned. I'm taking measures so it doesn't happen again and we'll be removing this behavior from the client in a future release.
Keep in mind that while a glitch caused by the foundations NeuCoins today is obvious to the network, it will become less and less important as we continue distributing NeuCoins.

Please not that neucoin.io doesn't handle reorganizations properly (we noticed this while looking for discrepancies between our own blockchain explorer and neucoin.io a few weeks ago). I agree that it is interesting to be able to look at orphaned blocks / chains - and if some of you would like that feature, we definitely will add it to our own.
http://forum.neucoin.org/t/3-5-hours-of-transactions-removed-from-the-block-chain/2057/24

[MarSas]

How to collect the coins from the survey if you're stuck at: Connecting to facebook...

[BlackPanda]

how do I get the results of the first survey. $ 25?

[thoth-Atlantian]

Maybe I have rocks in my head, But I like this price, worth A throwing in a BTC at least.....

[tempus]

Maybe I have rocks in my head, But I like this price, worth A throwing in a BTC at least.....

Good luck with that. ;-)

[scam confirmed]

The first reaction!!!


ophelie:

Hi,

We're currently restructuring our mining infrastructure, hence the slowed down network for a few hours. When relaunching the client, it mined while syncing. This is why it mined a longer chain than the one with the PoW blocks that got orphaned. I'm taking measures so it doesn't happen again and we'll be removing this behavior from the client in a future release.
Keep in mind that while a glitch caused by the foundations NeuCoins today is obvious to the network, it will become less and less important as we continue distributing NeuCoins.

Please not that neucoin.io doesn't handle reorganizations properly (we noticed this while looking for discrepancies between our own blockchain explorer and neucoin.io a few weeks ago). I agree that it is interesting to be able to look at orphaned blocks / chains - and if some of you would like that feature, we definitely will add it to our own.
http://forum.neucoin.org/t/3-5-hours-of-transactions-removed-from-the-block-chain/2057/24