Author Topic: NovaCoin (NVC) IS A SCAM.  (Read 11451 times)

Offline maplesyrupghost

NovaCoin (NVC) IS A SCAM.
« on: February 13, 2013, 09:12:55 pm »
WARNING.  Don't buy NovaCoin. 

Somehow this is trading on BTC-E.com... The coin is just a week or so old, there was a massive premine, like 250,000 coins, and now all of a sudden it's trading at a price DOUBLE that of Litecoin.  Litecoin has been around for years and it has so much to offer the community, NovaCoin is a pump and dump.

Someone placed 'buy' offers on the exchange in excess of 3600 BTC.  That's more than there has ever been for Litecoin ever.  Right now there are 400 BTC worth of 'buys' for Litecoin.  That's a normal number.  3600 BTC?  That's $100,000.  Someone with some cash is pumping up the price as high as they can so they can dump their hoard in one shot. 


IF YOU'RE GOING TO INVEST IN NOVACOIN, YOU'RE GOING TO HAVE A BAD TIME.

Prove me wrong, but seriously, the coin is a few days old.  No way it's worth $100k, let alone on the exchange at one time, total scam in progress, folks.
BitcoinTrading.com founder




Offline maplesyrupghost

Re: NovaCoin (NVC) IS A SCAM.: Public Destruction of 110k Premine
« Reply #1 on: February 17, 2013, 10:47:20 pm »
Hey here's an interesting one, in case you weren't aware, BTC-E.com was down for a day or two lately, and it was because of these damned NovaCoins.

Someone DDOS'd BTC-E.com to death until they publicly destroyed the 110,000 NVC donation. 

Here is their public destruction:

[NVC] Public destruction of 110 000 coins

Hi all. As you know, BTC-E received 110k of coins before NVC was publicly released. There are so many trolling about this, and we  decided to destroy it.

So, let's talk about subject. There are four basic ways, and they all work:

There are four basic ways, and they all work:

1) Come up with an address that passes the basic sanity checks but is internally invalid. You can know for sure that no key could possibly match this address.

2) Put strings of characters in the address that are way beyond what anyone could generate in a vanity address. For example, if the Bitcoin address has "FourScoreAndSevenYearsAgo" in it, it's clearly beyond anyone's capability to find a corresponding private key.

3) Use a public key that's obviously made up, such as one that consists only of zero bytes or that contains all consecutive digits of Pi. It's clearly beyond anyone's capability to find a corresponding private key. (For this one to work, you need to disclose the public key.)

4) Use a hash of the public key that's obviously made up. This works the same as the option above, but the difficulty would be in even finding a public key with such a hash, much less finding the corresponding private key.

Let's begin creation of our valid non-redeemable address for destroying coins. We will use this online address generator: http://gobittest.appspot.com/Address

All valid public keys begin with 0x04. We can use this byte sequence as public key:

0400000000000000000000000000000000000000000000000000000000000000000000000000000 000000000000000000000000000000000000000000000000000

Enter this line to "Public ECDSA Key" field and press "Send" button. After this you need to set the correct address version. It's can be done pretty easy by editing first byte of "Adding network bytes to 3" field, set it to 08. I.e. final value of "Adding network bytes to 3" will be

083B4DF4363CAA9E3BD9DA58020D3080BE8230A4AE

Now you can press "Send" button and get your NovaCoin address, which corresponds to invalid public key. It will be 4K7Q8XHw6vb8v25jBMQJvBYDJ71jJybzhG

We used this address for coins destruction - 4K7Q8XHw6vb8v25jBMQJvBYDJ71jJybzhG

Transaction ID is 9ffcf4b7c8a2e17a2776f7e8aaa0852ed2a7f80386bfc0d63991aac21dbdfe1e.

Also have you been to coinotron.com lately?  Neither have I, since they are running a NovaCoin thing there, they are DDOS'd to the ground until they remove it.

That's how serious this NVC thing is.
BitcoinTrading.com founder




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Re: NovaCoin (NVC) IS A SCAM.: Public Destruction of 110k Premine
« Reply #1 on: February 17, 2013, 10:47:20 pm »

Offline Yuho

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Re: NovaCoin (NVC) IS A SCAM.
« Reply #2 on: August 31, 2013, 09:39:56 am »
https://bitcointalk.org/index.php?topic=282314.msg3042727#msg3042727

P.S. If a man cheated on you once will he cheat on you twice?
« Last Edit: August 31, 2013, 09:48:41 am by Yuho »