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

[slashdevslashnull]

Did not mean to post a suspicious link!  Check their twitter/blog for a post from today about them shifting 100% to PoS because PoWers are just dumping coins.

[scam confirmed]

Did not mean to post a suspicious link!  Check their twitter/blog for a post from today about them shifting 100% to PoS because PoWers are just dumping coins.

URL Shorteners are auto removed. Here's the tweet: https://twitter.com/NeuCoin/status/700282527353798660

[tempus]

@slashdevslashnull: In my opinion the harsh critique on Neucoin is more than justified. I see nothing bad in ICO's but there should be more than just hyping, big names (who have never shown up), high promises etc. And what's that for a goal to say: "We want to reach mass-adoption!"? Every projects wants that. They have to explain why that could be successful, where is the advantage for anybody to use Neucoin?

In fact it's bad tech and it's the worst eco-system I've ever seen.

Just as a reminder:

Initial supply was 3 billion.

They sold to the community: 100 Million.

And then there is a inflation rate of 100% per year of 3 billion which means that they're staking millions every day without any chance to distribute it. Our of market-perspective they stake 100% every few weeks. Now they're complaining that PoW would bring pressure on the price but what does that mean? Without PoW but full PoS: Even less for those who support the Blockchain but more for them, right? And what will they do with all the Millions they stake everyday? They can't do anything with that! This project is totally fucked up since it's start.

You should read the posts around end of september and early october, when they went live and you'll see: A lot of calculations and analyzing and it was all predicted.

Just two examples of my own posts:


*****************
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."

(...)

to read more: https://bitcointalk.org/index.php?topic=944933.msg12556706#msg12556706
*****************


Or take a look at this one with two calculations (from rizzlarolla and myself) about inflation and distribution:

https://bitcointalk.org/index.php?topic=944933.msg12567238#msg12567238


Really, I've never seen a project like this, so badly designed and the last months they've shown that they are totally incompetent. A lot of technical issues, a complete lack of transparency and honesty etc. and now the next step of this weirdness is that they want to go full PoS to avoid pressure on the price. Truth is: There is nothing they can do. It's a totally fucked up eco-system, the worst distribution-model I've ever seen and if they would sell just the coins they stake in one day the price would go down to 1 sat. But they stake that everyday and since months now.




Edit: A post about the question if the ICO was legit:


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.

(...)

to read more: https://bitcointalk.org/index.php?topic=944933.msg12572703#msg12572703

[Joint Force]

Do not buy into projects where private groups get in early and pump up coins using a small supply. There is no need to pay so much for this idea.

At launch people payed a valuation of 72 million. Now wonder everyone except the initial private investors made money on this. Now the valuation is still a ridiculous 13 million.

Reply here for more info:
https://twitter.com/jessecouch/status/700411947884236800

[tempus]

Do not buy into projects where private groups get in early and pump up coins using a small supply. There is no need to pay so much for this idea.

At launch people payed a valuation of 72 million. Now wonder everyone except the initial private investors made money on this. Now the valuation is still a ridiculous 13 million.

Reply here for more info:
https://twitter.com/jessecouch/status/700411947884236800

The marketcap is at $ 648,214:
http://coinmarketcap.com/currencies/neucoin/

(those coins that are really on the market)


And the real marketcap is the buyside at Bittrex: 4 BTC. ;-)

[Joint Force]

Do not buy into projects where private groups get in early and pump up coins using a small supply. There is no need to pay so much for this idea.

At launch people payed a valuation of 72 million. Now wonder everyone except the initial private investors made money on this. Now the valuation is still a ridiculous 13 million.

Reply here for more info:
https://twitter.com/jessecouch/status/700411947884236800

The marketcap is at $ 648,214:
http://coinmarketcap.com/currencies/neucoin/

(those coins that are really on the market)


And the real marketcap is the buyside at Bittrex: 4 BTC. ;-)

I've noticed many coins trying to do this move. 95%+ of coins "aren't on the market". At some point these coins will come on the market. This means that the coins you buy today will be diluted by 2000% at some point in the future.

You can think of this two ways:
Marketcap = $ 648,214 but you're coins will be diluted 2000% or Marketcap = 13 million and you're coins won't be diluted.


Haha 4 BTC marketcap is pretty funny. ;-) It's true. You can't even sell your coins if there was an emergency.

[Joint Force]

With such rich people involved it's extremely odd that only 4 BTC of buy orders are placed on bittrex. Was there any proof that these people did invest?

[kryptologist]

anyone ever tweet to these big names like Candy Crush Saga owner? I just want to confirm he's in on it.

[rizzlarolla]

hey slash..

Were not that bad really. Shittyness from both sides here.

Ok, we/I attacked neucoin insiders. Fair game.
neucoin sock puppets mostly with personal attacks. Never discussion. Never insight. Never informative.
I would rather have proper discussion, but that never happened.
Every aspect of neucoin is broken, not as described, or plain wrong.
(see Torrgeek mods "proof of fud" theory - the more people hate neucoin the bigger the buy signal! Sept 4th)
(or dart mod "neucoin is innovative, cant remember what though. rizz will know" June 30th)

I've seen your line of thought before,
"So neucoin is naff, but the masses wont know or care"
Sorry, don't see the logic there.

Please dont rush in to ANY crypto. They are all shit. Some much more than others. neucoin more than most.
Don't give your bitcoin away as easily as Dart or James mod.
Now they hold a near worthless bag of neucoin. Their valuable bitcoin gone - to Dan and Sandrine


99% owned by internet malware/spyware creator Dan kaufman and side kick Sandrine Ayril
Built on lies, misinformation, and deceit.
What is there to like about neucoin?

[Brob12321]

Just got an email today stating that POW is done and the coin is moving to a full POS system.  Was that previously announced or is that a fork in the coin ?  Probably already answered but I'm not able to read hundreds of pages of text lol

[scam confirmed]

Just got an email today stating that POW is done and the coin is moving to a full POS system.  Was that previously announced or is that a fork in the coin ?  Probably already answered but I'm not able to read hundreds of pages of text lol

Fork.

[LiQio]

Just got an email today stating that POW is done and the coin is moving to a full POS system.  Was that previously announced or is that a fork in the coin ?  Probably already answered but I'm not able to read hundreds of pages of text lol

Fork.

The regime is desperately trying to stop the inevitable total disaster.

IIRC they always stated that PoW mining will last for a full year.
"5 million coins per month during year 1 will be awarded through PoW mining."

They have to pull the plug now because the coin is almost dead and BTC funds (3MrNuksZ1VePU3dGiSQFiouWerJUJgDkfH) are nearing zero.

The story goes something like this:
Although the PoW share is ridiculously small, the miners want to sell part of their earnings.
Now, because nobody at all wants to buy Neucon, Daniel Kaufman (the master of scams and sock-puppets) had to buy all of his own coins on bittrex. Along with unsuccessful marketing, zero innovation, slow development and technical problems the price has been going down nevertheless.

The only way for the regime around Daniel to leave this coin in a at least comatose state is by killing the supply side (miners). The remaining part of the supply is under control (the foundations/regime hold more than 99% of all the coins) and the remaining coins are in the hands of 5 to 10 die-hard-uber-idiots (James, superman, darteous, et al.). They have their coins in long-term locked staking accounts and don't want to crash the price anyway.

Now the only chance for Daniel is to start another marketing offense and try to sell some of his billions of coins to noobs, while the die-hard-uber-idiots have their tiny amounts of coins locked away. Which - just for the sake of completeness - are designed in a way that if you want to exit early, you get no interest at all.

The final round of Neucon.

[slashdevslashnull]

Just got an email today stating that POW is done and the coin is moving to a full POS system.  Was that previously announced or is that a fork in the coin ?  Probably already answered but I'm not able to read hundreds of pages of text lol

They switched sooner than expected due to sell pressure. It was supposed to be about a year out from launch.

Please dont rush in to ANY crypto. They are all shit. Some much more than others. neucoin more than most.

That's how its feeling. I mean, my take is a little different. They are all interesting, but rather stupid places to put your money as an investment.  Like betting on horses, but if there were a few million horses in the race. Having some fun is ok.

The early minting rates and growth accounts are attractive on NEU. Its not worth a damn if the coin becomes worthless. 200% of 0 is 0. Inflation is a risk. return rates of more established coins are not better than an average high-yield bank account and even worse when the Fed isn't buying a load of government bonds. the crypto coin market is left to total speculation at this time.  if there were a risk free 100% annual return out there then that's where all of my money would be.

I've seen your line of thought before,
"So neucoin is naff, but the masses wont know or care"
Sorry, don't see the logic there.

Not precisely my line but close. its plausible to me that they won't know or care. I see a big "what if?" NEU reminds me of startups I've seen or worked on. Its true that 90% of them fail, but some of them don't.  Sometimes having the backing of others that have gone through a startup successfully before makes the difference and sometimes it doesn't. I do like the ones that start simple and grind it out but there are other approaches that work as well. My observation is that they are doing something different by applying a startup approach. maybe its good or maybe its not

Do not buy into projects where private groups get in early and pump up coins using a small supply. There is no need to pay so much for this idea.

At launch people payed a valuation of 72 million. Now wonder everyone except the initial private investors made money on this. Now the valuation is still a ridiculous 13 million.

Reply here for more info:
https://twitter.com/jessecouch/status/700411947884236800

The marketcap is at $ 648,214:
http://coinmarketcap.com/currencies/neucoin/

(those coins that are really on the market)

Thank you for your replies, tempus. I understand your take on the numbers a little better.  I'll take some time to do the math myself and apply it to other coins for a comparison.

We'll see how they react to the poor launch and what comes of the integrations they have out there. 100% PoS switch won't get them any more street cred, but it has apparently created a temporary improvement in price.

[scam confirmed]

100% PoS switch won't get them any more street cred

What? PoW mining for the first full year is a basic concept of the coin actually and the regime's solo decison to change its fundamental characteristics removes street cred even more because obviously they change economics at will. If you want this kind of centralisation you can create a way more efficient system than a blockchain...

[tempus]

Thank you for your replies, tempus. I understand your take on the numbers a little better.  I'll take some time to do the math myself and apply it to other coins for a comparison.

We'll see how they react to the poor launch and what comes of the integrations they have out there. 100% PoS switch won't get them any more street cred, but it has apparently created a temporary improvement in price.

It's a total joke in my eyes. I mean, let's think about PoS. It's very important that not one entity holds more than 50%, right? But in this PoS-System a single entity holds more than 97%. And sure, they won't attack the Blockchain but what's that? It's by definition a private Blockchain!

If we would assume that they would have at least good tech and a stable system, it would still be a company with a private Blockchain. But, under the line it's just bad tech without any kind of innovation.

And the funny part is: They want mass-adoption. The goal once was to distribute and to decentralize the system and so on. But what does that mean? If I would like to participate and to help to secure THEIR private Blockchain they want me to pay them for it! ;-)

I have to buy Neucoin to be able to help to secure a private Blockchain. And what do I get? Nothing. It's really not more. They want to sell sand in the desert. And that's it. And that makes it by definition to a scam.



And regarding the price: They can do with it whatever they want. The PoW made it just more expensive because they did not have full control. Now they have full control and like I've said: They want people to pay them to secure their private Blockchain. I have some doubts that this can be successful.

[paytplay]

I hate to say it........... but I will, the time to buy is now. As soon as POS hits the price could be anywhere from what it is now to a couple bucks a share. The regime will decide the price and I do not think they have a couple of pennys per share in mind. just saying

[rizzlarolla]

I hate to say it........... but I will, the time to buy is now. As soon as POS hits the price could be anywhere from what it is now to a couple bucks a share. The regime will decide the price and I do not think they have a couple of pennys per share in mind. just saying

Your right, price is completely up to the regime, Dan and Sandrine.
(are you a trader?)

Sometimes in life, morals matter.
Even above personal profit.

But please, take your place in this scam if you must.
Give your btc to Dan and Sandrine.
Put your morals in the trash.
And give my love to Dart, James mod and Torrgeek.

They will be delighted.

[scam confirmed]

I hate to say it........... but I will, the time to buy is now. As soon as POS hits the price could be anywhere from what it is now to a couple bucks a share. The regime will decide the price and I do not think they have a couple of pennys per share in mind. just saying

 

• Coin prices should be less volatile and remain intuitive for consumers from launch ($0.01 per NeuCoin) and into the future

[Cryptorials]

Is this kind of response at all normal for new Altcoins? Defensive BTC/other-alt holders?

Yes and yes. Well, at least its not normal but its not uncommon. At times one gets the feeling that it goes beyond just defensive holders of other alts and looks more like organized FUD campaigns (I've even heard rumours of paid fudders, although I can't confirm it). Its nearly as bad as politics sometimes.

I think its a mixture of three things:

Firstly you get people who are defensive about competition for their favourite alt. In the early days the NEU team reached out to some other coin communities like DOGE with the idea of an 'airdrop' giving free coins to the owners of those other alts, and that really seemed to get people's backs up (particularly DOGE since tipping and micropayments were kind of their thing) and seemed to coincide with the height of the venom when the official forum was almost entirely just angry hate posts.

Secondly you get a lot of idealistic people who have very 'purist' ideas about what a crypto should do and object to one being run like a start-up, kind of seeing it as the enemy impinging on their anarchic territory.

Thirdly you get a lot of immature people who buy the coins without doing any research on them, find out later on that its different to what they had thought and then shout loudly about being ripped off because of that, or because they didn't make a fortune overnight (which unfortunately is what some people expect when they start buying crypto).

You have people in this thread still going on about the distribution - everybody knew what this was going to be before the pre-sale, the reasons why were explained fully, the intended timeline for the foundation to go below 50% was provided, but yet instead of choosing whether they are interested or not and then acting accordingly they keep posting in this forum thread for month after month about how the distribution of coins is a scam. It should be clear that this is not because they have an honest opinion, but because they have an axe to grind.

[rizzlarolla]

neucoin bag holder ^   NejrNECLxNZJhhDcntZgYvkb8hB27kRWCu

I hate to say it........... but I will, the time to buy is now. As soon as POS hits the price could be anywhere from what it is now to a couple bucks a share. The regime will decide the price and I do not think they have a couple of pennys per share in mind. just saying

 

• Coin prices should be less volatile and remain intuitive for consumers from launch ($0.01 per NeuCoin) and into the future

Yeah but that didn't work out for them.  
That only fooled the uber foolish presale buyers. You know, Dart and CO.

Soon there will be 4,000,000,000 neucoin. 97%(?) owned by Dan and Sandrine Ayral.
"several billion" neucoin scheduled to be earnt "given away" this year? (or Dan and Sandrine Ayral keep them?)

As Sandrine Ayral said, the PoW makes little difference to coin supply, just centralises  "distribution" even further.
Dan and Sandrine Ayral can't prop the price forever. Probably not much longer.
Even more worthless now than ever.

Sandrine Ayral, http://forum.neucoin.org/t/neucoin-pos-award-rates/1479
"Over the first 10 years, the supply of NeuCoin tokens will grow from the 3 billion pre-mine (held by the NeuCoin Foundations) to approximately 100 billion – with the vast majority of the growth coming from PoS awards (in year one there is also a small PoW component - 5 million NeuCoins per month..)."