[ANN] Blacknet BLN | Staking | Future of zApp & ZeFi

[lonely@thetop]

Getting scary out there...  The roundness of those orders suggests it's just a few people holding up the price....

Yep, its being manipulated to dump - they get you to pump it up by panic buying more only to dump on you - probably the coins that were stolen.

Are the 22 million coins that went out of the CR wallet simply on the bad fork? or can they be used by the new client?

Total loss reported about 1.5 million coins, 22 million number is their total processed coins as far as I understand. The coins were withdrawn by normal CR users seeing larger balance than they should have, not a single entity/hacker. The coins were distributed across many people, no single large dumper was born. The coins are useable.

How did they end up with a total negative balance in their wallet? I mean, the daemon will not send coins it doesn't have. They must have HAD that many coins -- but they're claiming they didn't. They say they only had 68k coins or something, and ended up with a massive negative balance. The client doesn't -- or obviously shouldn't -- allow that to happen. The only way it might happen that I can see would be if the coins were on a bad fork. Right? Forget about logs, all the coins coming out of that wallet should be traceable and invalidated if they were in fact sent due to a bug in the client.

They had that many coins, it was just distributed all to the wrong people. As far as I understand they rely on coin daemon account feature to track user balances, but for POS coins this is inaccurate as coin staking creates new addresses and moves coins around, I don't claim to understand where/how the negative balance thing happened, maybe rat4 will show up and explain, but these questions probably better asked in CR announcement thread.

[hamm3r]

God damn it somebody else having this problem that blackcoins are held for orders on mintpal? But nowhere to be found on the BTC/BC market? I am thus unable to cancel the order or even cash out the BC ...

Nope. Trading works like a charm. Even at work 

[dominikf]

God damn it somebody else having this problem that blackcoins are held for orders on mintpal? But nowhere to be found on the BTC/BC market? I am thus unable to cancel the order or even cash out the BC ...

Nope. Trading works like a charm. Even at work 

Is there an IRC of mintpal where you can chat to admins?

[FinaGica]

watch out people sell high buy LOW!!:)

[ptic-1]

   and guinness  anyone  


yes yes   question is   DO I make more with blackpool   or to manually mine most or at least most of all most  profitable coin and   self      buy  BC

[FinaGica]

Someone is playing and pumping up the price to sell coins at a high price.Watch out!!

[illodin]

yes yes   question is   DO I make more with blackpool   or to manually mine most or at least most of all most  profitable coin and   self      buy  BC

I guess it depends on can you pick better coin(s) to mine than the pool and can you pick a better spot to sell and buy. I would imagine it wouldn't be worth the hassle to do all that by yourself.

[lonely@thetop]

You would make more mining yourself but as the stats are fixed your hashrate will have an impact on positive outlook on the coin's future - if the pools is huge hashrate people will buy in anticipation of growing price cause of multipool.

I'll sacrifice my short term earnings by mining there even with lesser payouts to help this coin grow.

[FinaGica]

Ouuu going to drink a beer too!!Great idea!!!:) 

[Omega0255]

I guess we're going through a general downtrend. I pulled out already. Just waiting to get back in.

[freshmeat]

Nobody ig going to buy because some sell orders dump the price all the time 8200 - 7500 , 8200 - 7500 . so price is going to crash . so just wait and prepare your BTC to buy at 5000 - 4000 =)

[David Latapie]

Smarter hackers would stake those coins after a thorough cleaning.

I don't understand why people are keeping PoS coin on an exchange. Are all of them day-traders, lazy or just ignorant of what PoS means?

[chongo]

can someone tell me what happened was offline a few hours...

[lonely@thetop]

can someone tell me what happened was offline a few hours...

Quickest way is to read up on the news yourself, easy with twitter. twitter.com/#blackcoin

[XbladeX]

Getting scary out there...  The roundness of those orders suggests it's just a few people holding up the price....

Yep, its being manipulated to dump - they get you to pump it up by panic buying more only to dump on you - probably the coins that were stolen.

Are the 22 million coins that went out of the CR wallet simply on the bad fork? or can they be used by the new client?

I get that they all transations in at 22m but they should have about 1.5m at the end of story but they have now 60k

Loss =  "which is 1554503"

And that 1.5m goes to many useres so users could claim 2x balance because of their bug.
They tried mint coins and they have paid for that...
Mintrush disabled minting/stacking for security reasons., Now you see why.
CR wanted earn more but they paid for they greediness...

Coin wasn't forked coin just stuck at synch we haven't parallel block-chains.

[regnevacs]

lol.. putting sell wall give those shorthands the creep to sell.

[alex1989]

I think the price will drop down whilst people sell the coins that they got from the cryptorush fuck up but will bounce back after.

[germsite]

Someone is playing and pumping up the price to sell coins at a high price.Watch out!!

Or some people are following the Gradual Buy technique that David Latapie reposted a few pages back. There have been many incremental 1000 / 2000 buys & sells that 'look' peculiar placed over the past couple of weeks. It might just be people having a play with a wallet worth $100, instead of some big fish with a $100,000 dollar wallet pumping.

Just an option ...

Gradual buy explained
(short link: http://[Suspicious link removed]/gradual-buy-sell-bc)

I just turned 38 today (technically, in 9 hours). BC si a nice Birthday gift  

I am using IconicExpert's method of slow buying atm. I invest 0.01 BTC at a time. I lose money in the short term but it will help blackcoin in the long term. Do like me. IconicExpert or others, please restate your method, it is too painful for me to do it on a smartphone.

Would you mind explaining what this method is ?

Now that I have a computer again, yes

Say you have 1 BTC. Instead of putting a buy order at market price (or lower), place, say, ten 0.1 BTC orders either at market price.
An improvement if you use a platform the allows conditionnal orders (like stop orders at https://cryptrader.com/ - beware, it won't work with Mintpal because Mintpal has not published its API yet):
place your ten 0.1 BTC order not at market price but at slightly above market price instead.
For instance, if BC is at 8800
Buy order of 0.1 BTC at 8820, 8840, 8860... and the tenth one at 8900.
Granted, you lose two times in the short term: the first time because you buy at market price instead of taking advantage of an occasional drop (e.g. buy orders at 7500) and a second because instead of buying all at once at market price, you actually buy at a more expensive price! This would appears as masochistic to a short-terme trader. But if you're in for the long run, you actually send a signal to everyone: "prices are constantly raising, be confident, no pump and dump, no scam, put your money in everyone".

As IconicExpert said, if people used gradual buy, the price would not be a 8000 now, it would at 9000 or even higher. Your short term losses are more than compensated then.
I call this gradual buy.

The reverse is true too (and this was the topic of the original IconicExpert's post): if you want to cash in without hampering the price of BC, don't sell at "lowest sell price minus 1 satoshi". Sure, you won't instant sell you will have to wait... some seconds to some minutes. I you cannot wait some more seconds, I think you have some serious questions to ask about yourself.

There is two conditions for gradual buying to succeed:
1. To be patient (wait some minutes). Having a stop order-compatible platform helps
2. To have a lot of people do it (that's the tough part)

I hope it is clear for you now. If you wan't more money, use gradual buying.

[David Latapie]

So,the ideal thing to do is stack these coins to the sky and leave them there without touching them for a year? Also,is the staking done at once a year or is it a continuous process throughout? If continuous,what's the time interval for which they get staked?

1. yes
2. every 8 hours on average. Your wallet will give you the accurate countdown.

[IconicExpert]

How did they end up with a total negative balance in their wallet? I mean, the daemon will not send coins it doesn't have. They must have HAD that many coins -- but they're claiming they didn't. They say they only had 68k coins or something, and ended up with a massive negative balance. The client doesn't -- or obviously shouldn't -- allow that to happen. The only way it might happen that I can see would be if the coins were on a bad fork. Right? Forget about logs, all the coins coming out of that wallet should be traceable and invalidated if they were in fact sent due to a bug in the client.

You are correct and they are FOS. I normally do not get "worked up" on a forum, but I am getting tired of these "exchanges" not taking responsibility for their incompetence. It is FUNDAMENTALLY IMPOSSIBLE for people to withdraw more coins than CryptoRush had stored in their wallet(s). You can't just magically generate coins. If the coins are not in the wallet(s) YOU CAN'T GO NEGATIVE. So either CryptoRush had 1.5 million coins stored or they are not telling the truth. 

Here is what I replied to their asinine announcement: https://asktom.cf/index.php?topic=529779.msg5891645#msg5891645