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

[scam confirmed]

A possible explanation for this the originally projected monthly drop in interest rates is exactly following what was projected. The decrease isn't actually done on a monthly basis but instead done every 43,836 blocks. So the third drop in interest rates is to occur after 132,000 blocks are on the chain. So it was projected. using the 9/11 date on the genesis block there would be 131,508 blocks on the chain at the start of the 4th month. If we take a month to be 30 days, then we 7 days from the 90 day marker... about 76% or the way through the month. Taking the current block height of 111599 -87672 (the block for the second month) we are only 23,927 blocks into month 3. That's only only about 54.6% of the way into the month( again being 43,836). So clearly block generation isn't happening as fast as project. I have seen the projected coin creation rates but I am sure they were tied to this. Do you have a link to that?

While the 09/11 date has been a reasonable omen for NoKoin genesis block, it would probably be preferable to use the 23/11 offiicial launch date when the first PoS block was generated (block 793), or even better, a block where PoS difficulty reached usual levels (somewhere around block 20.000). If we take block 793, then block time is ~ 9 % faster then targeted. If we take block 20.000, then block time is ~ 7 % faster then targeted. This might partly explain high orphan rate (especially for PoW).

[TibanneCat]

Remember that angel investors bought nokoin at half the presale price??
that is why spyware-pig needs to keep the price above 0.00002 for now

The fact that there has consistently been a buy wall at that price, now at 25 btc, supports that theory

they are giving it one last shot this month by adopting nokoin for 2 obscure useless websites owned by the founders, hoping that it might attract the naive buyers they need to start offloading that vast reserve of coins.

it is going to be yet another embarrassing flop as barely anyone will be stupid enough to fall for it and in few months the coin will quietly die off

Karpeles in Jail.

Josh Garza being prosecuted.

Dan K next?

Dan Kaufman was sued by the government twice before so he tried to cover his bases better this time by employing all those dodgy offshores and strawpersons for responsibility and tax evasion.
Not my area of expertise, but that doesn't seem to be FATCA compliant, Dan is after all a US citizen
plus the whole blue sky laws mentioned by Gekko

Even if Dan Spyware-pig doesn't end up in jail, he already secured his place in the Crypto Crooks' Hall of Fame, right next to Karpeles and Garza.

[rizzlarolla]

Oh, so Magicking was wrong. Again.
"Yeah, sorry I was wrong about the timestamp (since reorganize are based on trust which doesn't use the timestamp), I still don't know why I said that." http://forum.neucoin.org/t/public-pos-stakes-being-orphaned-by-foundation-account-stakes/2289/14

No I don't know why magicking said that either. Basic stuff.
He certainly doesn't like to engage. Short snappy answers, take it or leave it, no attempt to discuss or enlighten.
No love there. Confusion, the usual nokoin way.
Now Magicking want Alex to sort out the issues and submit to github. Pass the buck why not.



Anyway Alex, if your still interested, here's how I'm seeing it.

Is there a lack of nokoin production from staking rewards?
Yes there is.

Around ~ 250 million more nokoin were projected at this stage.
There is no simple official figure, but the math is in this thread. http://forum.neucoin.org/t/how-will-neucoins-be-mined-after-release/163/28
(8 billion nokoin end yr 1, revised down by Kourosh on the basis of the "small staker reward" math. - incorrect. vast majority staked are "large staker reward", earning max compound effect, therefore effectively higher interest rate, therefore Kouroshs' original 8 billion estimate is achievable and the correct, or more correct, answer. imo)

I think the block propagation is about ~ correct.
I see it like scam c, except the reason I would use "launch" as my marker is only 800 blocks were produced in the 2 weeks previous (to launch), equal to about ~ 12 hours "up and running"
No nokoin were created before launch, but these are not exact calculations. (and can never be)
So, I am assuming genesis was, effectively, about ~ launch (-12h). Near enough for these vast numbers, to find the right ball park?
So now, about 75 days later, @ ~ 44,000 blocks in 30 days = 110,000 blocks. Near-enough ~ exactly right at the moment.

I dont see compounding being a major factor either. (especially as block prop looks ok to me)
The vast (overwhelming) majority of compound will be achieved by, er, "team" holdings. Would it matter that much if only half the blocks were produced, compounding every 2 miniutes instead of every 1 minute?

As block propagation times seem ok, (ish) interest rates should also be ok. (close to a calender month increments as expected)

And orphan rates, while clearly high, (especially pow) seem to only account for a "few" million missing nokoin.
Even if presale, er, "investors" abstained from staking all 100m, (unlikely for several reasons clearly) and include a few million free survey nokoin, this is still such a small % of total coins,(about ~ 3%) it cannot explain the missing 250 million. (maybe 10m or 20m max?)
(high orphan because of centralized built-in 51% attack. No coin age means small utxo's carry no trust - ever.)

So, I'm still no nearer to solving this puzzle. (and the block explorer puzzle)
I did not notice when nokoin production stopped/slowed. (month 1 was on target)

I'm just guessing here, trying to work out possibilities. Detail and fact are non existent at nokoin.
Wouldn't it be nice if Magicking actually tried to be honest. Or just happily tried to really explain some of these details for you. Not bite your head off?
That would be a nokoin first.

[alexhiggins732]

Now huey (the creator of the block explorer, a task the neucon regime is not able to accomplish) is encouraged to create a "faked" block explorer rich list and has to defend the reality.

https://i.imgur.com/8gRuVfb.png
http://forum.neucoin.org/t/neucoin-block-explorer/1806/18

So, wtf IS going on with these block explorers?

Huey said "the blockchain never lies"
Well, at least one of them is lying.

nokoin.io states 3.95bn nokoin exist.
http://www.neucoin.io/richlist

nokoin.org state 3.39bn nokoin exist.
http://explorer.neucoin.org/overview

I had expected to see at least ~3.7bn in existence at this point, using nokoin own formula.
http://forum.neucoin.org/t/how-will-neucoins-be-mined-after-release/163/28
However,with the super compounding effect for the controllers of nokoin, nokoin.io's figure of 3.95bn is plausible.
On the other hand, nokoin.org's 3.39bn figure is several hundred million nokoin below their own projections.

So, are they holding back on staking, or have they just messed up the process of staking, or did they mess up the original figures, or is their blockchain just plain wrong?
(I think the figures are good as the first months nokoin growth was in line with expectations, as reported on this thread. the nokoin growth therefore must have slowed after month one. I dont know how to go back in time, now, to "easily verify" how many nokoin existed after month one on "todays version of events"  at nokoin.org explorer?)

Is the difference between the two because nokoin.org rewrite (their) history every month (on "distribution day") and nokoin.io doesn't obey?
After all, when nokoin team rewrite history, that then makes it "true".
Even when nokoin team are not rewriting, every tx is is based on the 51% attack. The controllers say it did or did not happen. NOBODY else gets a say. If you disagree, (when finding a block) you will be orphaned?

Also
Veegolds' transaction history on the two explorers deviates on distribution day, Oct 23rd, coincidence?
http://www.neucoin.io/address/NSx81GyspxWA5H8z7MHam9dezptCKBqzkC
I don't think Acorn would have deliberately robbed Veegold, but could a bug in the reorg/rewrite be to blame?

What is going on? Can anything about nokoin be trusted?
Probably not....   unless you FULLY trust the team. (mostly gone or hiding behind "Acorn" for anonymity)
As Sandrine said,(Apr 25) "Pre-mined cryptocurrencies like NeuCoin reintroduce a trust factor during a part of the distribution phase, while the Foundations still hold the majority of the coin. It is a paradigm Bitcointalk members do not like."

That's really weird. My calculation, with compound interest, would be for 70 days:

100% per year = 0.27% per day

3,000,000,000 * (1 + 0.27/100) ^70 = 3,633,262,031 NEU

So, it would be near what you say: "I had expected to see at least ~3.7bn in existence at this point"

Maybe it's a decreasing interest rate to avoid compound interest. But the question would be still what's wrong with one or both BE's.


Kind of funny is: It seems, nobody cares anymore about those questions. The team knows that Neucoin is done (is there still a team btw?). Some Investors maybe still hope but how many Investors do they have? The forum shows also a decreasing activity.

There are so many points, and every single point would be a huge scandal in every legit project, but it's totally normal for Neucoin that things are wrong and nobody cares.

FYI... the actual interest rate hardcoded into the count is approx 0.2424 pct a day

[tempus]

Now huey (the creator of the block explorer, a task the neucon regime is not able to accomplish) is encouraged to create a "faked" block explorer rich list and has to defend the reality.


http://forum.neucoin.org/t/neucoin-block-explorer/1806/18

So, wtf IS going on with these block explorers?

Huey said "the blockchain never lies"
Well, at least one of them is lying.

nokoin.io states 3.95bn nokoin exist.
http://www.neucoin.io/richlist

nokoin.org state 3.39bn nokoin exist.
http://explorer.neucoin.org/overview

I had expected to see at least ~3.7bn in existence at this point, using nokoin own formula.
http://forum.neucoin.org/t/how-will-neucoins-be-mined-after-release/163/28
However,with the super compounding effect for the controllers of nokoin, nokoin.io's figure of 3.95bn is plausible.
On the other hand, nokoin.org's 3.39bn figure is several hundred million nokoin below their own projections.

So, are they holding back on staking, or have they just messed up the process of staking, or did they mess up the original figures, or is their blockchain just plain wrong?
(I think the figures are good as the first months nokoin growth was in line with expectations, as reported on this thread. the nokoin growth therefore must have slowed after month one. I dont know how to go back in time, now, to "easily verify" how many nokoin existed after month one on "todays version of events"  at nokoin.org explorer?)

Is the difference between the two because nokoin.org rewrite (their) history every month (on "distribution day") and nokoin.io doesn't obey?
After all, when nokoin team rewrite history, that then makes it "true".
Even when nokoin team are not rewriting, every tx is is based on the 51% attack. The controllers say it did or did not happen. NOBODY else gets a say. If you disagree, (when finding a block) you will be orphaned?

Also
Veegolds' transaction history on the two explorers deviates on distribution day, Oct 23rd, coincidence?
http://www.neucoin.io/address/NSx81GyspxWA5H8z7MHam9dezptCKBqzkC
I don't think Acorn would have deliberately robbed Veegold, but could a bug in the reorg/rewrite be to blame?

What is going on? Can anything about nokoin be trusted?
Probably not....   unless you FULLY trust the team. (mostly gone or hiding behind "Acorn" for anonymity)
As Sandrine said,(Apr 25) "Pre-mined cryptocurrencies like NeuCoin reintroduce a trust factor during a part of the distribution phase, while the Foundations still hold the majority of the coin. It is a paradigm Bitcointalk members do not like."

That's really weird. My calculation, with compound interest, would be for 70 days:

100% per year = 0.27% per day

3,000,000,000 * (1 + 0.27/100) ^70 = 3,633,262,031 NEU

So, it would be near what you say: "I had expected to see at least ~3.7bn in existence at this point"

Maybe it's a decreasing interest rate to avoid compound interest. But the question would be still what's wrong with one or both BE's.


Kind of funny is: It seems, nobody cares anymore about those questions. The team knows that Neucoin is done (is there still a team btw?). Some Investors maybe still hope but how many Investors do they have? The forum shows also a decreasing activity.

There are so many points, and every single point would be a huge scandal in every legit project, but it's totally normal for Neucoin that things are wrong and nobody cares.

FYI... the actual interest rate hardcoded into the count is approx 0.2424 pct a day

Thanks for the info! But under the line it doesn't really matter. The market would be at 1 sat if just 1/2 day of staking would be sold.

Buy-Side on Bittrex: 4 Mio.

And it's mainly 1.25 Mio because of the "Neu-team-buywall" at 2000 sat.
And 1,8 Mio at 1 sat.

2 Mio would be enough to crash it totally and the staking of just one day is about 8 Mio. There is no way that this Coin will survive.

And: Without the buy-walls of the Neu-team the price would be already much lower and they won't ever be able to distribute just one day of staking. And that says a lot about the current price. It's totally overvalued and at the same time clearly lower than the ICO-price, wich says a lot about the ICO-price.

My question is really mostly: Is this project a result of Incompetence or Fraud or is it an incompetent Fraud?

[rizzlarolla]

Alex
"FYI... the actual interest rate hardcoded into the count is approx 0.2424 pct a day"

Kourosh
"Here are the exact interest rates for the first year: [1, 0.9754, 0.9593, 0.9435, 0.9278, 0.9124, 0.8972, 0.8823, 0.8675, 0.853, 0.8386, 0.8245] Note that although they change monthly, these are annual interest rates."


Oh, so 0.2424% per day x 365 = 88.476% per year? Is that correct?
But, month 3 should be 95.93% per year = 0.2628% per day.

Is 0.2424 ~9% too low? More like month 8 interest rate?
I must be calculating wrong?

(IDK, Is 0.2424 hardcoded for 12 months, or just the current month/43,800 blocks?)

[scam confirmed]

^

"Interest rates" ("rewardSteps") are as mentioned by Kourosh: https://github.com/NeuCoin/neucoin/blob/master/src/GetProofOfStakeReward.cpp#L18

Alex' 0.2424 "actual interest rate" interpretation is probably derived from that weird looking formula
( 365 * 33 + 8 ) / 33 ~ 365.2424 (to take leap years into account): https://github.com/NeuCoin/neucoin/blob/master/src/GetProofOfStakeReward.cpp#L29

[a1binos]

Anybody tried to mine it solo? Dev - something wrong with submit block rpc!!!
Wallet didn't accept mined blocks - wtf???

[rizzlarolla]

Scam, Alex, I don't understand.

What relevance does that number have. 0.2424?

Scam, I don't read code.
All I see is 0.2424 accounting for leap years?

nokoin said month 3 would produce 95.93% interest. (Is this not the case?)
What relevance is 0.2424 to that rate? (if it is not just leap year)


"FYI... the actual interest rate hardcoded into the count is approx 0.2424 pct a day"
Alex, could you please explain the context. As you can see I'm not getting it.
Thanks.

[rizzlarolla]

Quick note,

Alexhiggins tries to get answers to why nokoin keep robbing him of his nokoin mining rewards,
After hours of work investigating and posting pages of evidence, after quietly threatening to sell his millions of nokoin if they don't sort this s*%/ out,
And after magickings last apology for his previous reply being wrong,

Magicking reply's,
"Both of theses statements (and past posts) make me think that you don't fully understand how things work and hence you make assumptions of how things might work and then get aggressive and mix multiple subject in your post (like this one) even if some answer has been given before."
http://forum.neucoin.org/t/public-pos-stakes-being-orphaned-by-foundation-account-stakes/2289/15

No attempt at enlightenment.
No attempt to discuss.
That's always been the nokoin way.

So who does fully understand how things work with nokoin?
Not Magicking lmo.  (Or he ain't sharing it.)
Nobody does. All part of the plan to dupe the masses.

Time to sell up Alex?

[tempus]

Quick note,

Alexhiggins tries to get answers to why nokoin keep robbing him of his nokoin mining rewards,
After hours of work investigating and posting pages of evidence, after quietly threatening to sell his millions of nokoin if they don't sort this s*%/ out,

Magicking reply's,
"Both of theses statements (and past posts) make me think that you don't fully understand how things work and hence you make assumptions of how things might work and then get aggressive and mix multiple subject in your post (like this one) even if some answer has been given before."
http://forum.neucoin.org/t/public-pos-stakes-being-orphaned-by-foundation-account-stakes/2289/15

No attempt at enlightenment.
No attempt to discuss.
That's always been the nokoin way.

So who does fully understand how things work with nokoin?
Not Magicking lmo.
Nobody does. All part of the plan to dupe the masses.

Time to sell up Alex?

Possibilities:

1. They don't care any more, the decision to leave is already made so it's just a matter of time they'll let it die.

2. They absolutely don't know how to answer, what to say, how to fix the issues.

3. They are so naive and arrogant, ignorant and blind that they don't believe to be accountable for anything.


I believe it's a mix of 1, 2 and 3. And I don't see any possibility that this could turn out in something positive for anyone. Sometime somebody will sell and break the buywalls and the price will totally crash. It's just a matter of time.

Really, I thought a lot about this project... just out of the interest if it's theoretical possible that this project has any chance. But still I don't see just one single possible scenario. It has nothing positive but multiple issues and even if it would be a good project, the monster-inflation would be deadly in any case. 

Out of miner-perspective with wallets full of NEU there is the question if there are chances for a rising price... but even if they should be able to lead it into a little hype, what would they have to do? They need to distribute, so the price can't rise much. And over the time, more and more coins will become unrestricted, the risk that other large holder will bring pressure on the price or even break it is increasing.

So, the question is maybe more if it's smarter to sell all at once or over time.

[rizzlarolla]

Quick note,

Alexhiggins tries to get answers to why nokoin keep robbing him of his nokoin mining rewards,
After hours of work investigating and posting pages of evidence, after quietly threatening to sell his millions of nokoin if they don't sort this s*%/ out,

Magicking reply's,
"Both of theses statements (and past posts) make me think that you don't fully understand how things work and hence you make assumptions of how things might work and then get aggressive and mix multiple subject in your post (like this one) even if some answer has been given before."
http://forum.neucoin.org/t/public-pos-stakes-being-orphaned-by-foundation-account-stakes/2289/15

No attempt at enlightenment.
No attempt to discuss.
That's always been the nokoin way.

So who does fully understand how things work with nokoin?
Not Magicking lmo.
Nobody does. All part of the plan to dupe the masses.

Time to sell up Alex?

Possibilities:

1. They don't care any more, the decision to leave is already made so it's just a matter of time they'll let it die.

2. They absolutely don't know how to answer, what to say, how to fix the issues.

3. They are so naive and arrogant, ignorant and blind that they don't believe to be accountable for anything.


I believe it's a mix of 1, 2 and 3. And I don't see any possibility that this could turn out in something positive for anyone. Sometime somebody will sell and break the buywalls and the price will totally crash. It's just a matter of time.

Really, I thought a lot about this project... just out of the interest if it's theoretical possible that this project has any chance. But still I don't see just one single possible scenario. It has nothing positive but multiple issues and even if it would be a good project, the monster-inflation would be deadly in any case. 

Out of miner-perspective with wallets full of NEU there is the question if there are chances for a rising price... but even if they should be able to lead it into a little hype, what would they have to do? They need to distribute, so the price can't rise much. And over the time, more and more coins will become unrestricted, the risk that other large holder will bring pressure on the price or even break it is increasing.

So, the question is maybe more if it's smarter to sell all at once or over time.

Yeah,

They don't care, they never did. There was never any love from nokoin, er, "team" for nokoin. Never any details or fact. Now they are mostly gone.

I too have studied nokoin best I could, it started because of the "serious debate on pow v pos"
I was fooled by the word "serious". I took interest.
The rest is history (documented here. Warnings, concerns, jokes. All unanswered. Slowly proving correct.)

So now the months tick away. The nokoiners fall by the wayside.
If Alex sells up tonight it's game over. 1 satoshi.
It's coming.

Dart and Superman loose all their Bitcoin. (please don't then complain Dart)
Dan makes a million dollars.
The end.

Alex, time to sell up?
(seriously, why do you persist, even knowing your getting cheated? With all your millions, your still trailer cash to Dan?)

[Cryptock]

Keep hope alive, this will be the most used coin in the world @ 2021

[jonald_fyookball]

Keep hope alive, this will be the most used coin in the world @ 2021

cant tell if sarcastic

[tempus]

Keep hope alive, this will be the most used coin in the world @ 2021

Yes... Mark Zuckerberg will leave Facebook, join the Neu-team and sell billions to China where it will be the official currency. And in 2022 it will replace dollar as petrodollar. MOOOOON! ;-)

[tempus]

Keep hope alive, this will be the most used coin in the world @ 2021

cant tell if sarcastic

I was also not sure, but... :

so this is the coin that will bring mass adoption to crypto ..Haha

... ;-)

[rizzlarolla]

Keep hope alive, this will be the most used coin in the world @ 2021

cant tell if sarcastic

As superman would probaly say,

hahahahahahahahahaha... hahahahahahaha.. hahaha..  

And nokoin will be $10 each,

hahahahahahah....  hahahahaha.. hahaha..

And Dan Kaufman, owning so many nokoin will own half the world,

hahahahahaha...haha..ha..

And everyone in the world will love Dan Kaufman and trust him more than anyone else,

haha... ha..

And squirrels will supersede human beings,

ha.. Oh shit!


Edit- Anyone got a 5 year growth account ? Cryptock? hahahaha... hahaha...  haha..

Also- Better get rid of your Bitcoin logo, Cryptock, bring on the squirrel logo. I guess your all in. hahahaha...  hahaha..  hahaha

[rizzlarolla]

Nice work Alex, Bittrex 0.00002000 First buy wall gone.

First Magicking tried to make you look like an "a$$hole". That was bad enough.
But then James mod has to rub in the salt. "You keep answering your own questions." oops. James mod knows Jack shite.

James mod, (some say "the thickest person on the internet" mind you, that was before Superman turned up) teaching Alex about "trust"
If the ,er, "team" want to orphan Alexs' blocks over 6 minutes late, that's fine with James mod. That's trust.
Thanks James

Keep on dumping!

[tempus]

Nice work Alex, Bittrex 0.00002000 First buy wall gone.

First Magicking tried to make you look like an "a$$hole". That was bad enough.
But then James mod has to rub in the salt. "You keep answering your own questions." oops. James mod knows Jack shite.

James mod, (some say "the thickest person on the internet" mind you, that was before Superman turned up) teaching Alex about "trust"
If the ,er, "team" want to orphan Alexs' blocks over 6 minutes late, that's fine with James mod. That's trust.
Thanks James

Keep on dumping!

What I really would like to know: How many Coins are in public-Investors hand? Or with other words: How many Coins are not under control of the Neu-team?

And what's also interesting: How many Coins from team-members are unrestricted and could reach the market if they want to leave. Because I'm sure that the team is not united. Sandrine is already out and that's an obvious sign. At one point there will be a race who is first to dump.

[rizzlarolla]

Or at least Sandrine is pretending she has already left.

From http://forum.neucoin.org/users/sandrine/activity
Last (private, er, "team") post 13 hours
Last seen Nov 25th
Last (public) post Nov 8th ("Hi everyone I'm leaving")

Now, why would Sandrine want us to think she has left, when she still has keys to the office?