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Comment by ucaetano | Hacker News Reader

Reposting from another thread:

I recently created my own cryptocurrency, UCaetanoCoin (UCC), with a supply of 100 trillion and one coins, all owned by me.

I sold one to a friend of mine for $0.01 yesterday, which made me not only the richest person in the world, but also the first trillionaire, as the coins I own are valued in $1T USD.

And my UCC has a total market cap of $1T USD (and one cent). Then I exchanged a single coin with myself for $0.01.

As my coin has zero transaction cost and instant transactions (it's a badass coin), I traded it back and forth with myself 100 quadrillion times.

This generated a total traded value UCC-USD of 1 Quadrillion Dollars yesterday, more than any other security was ever exchanged in a single day.

Anyone wants to invest on my UCC? Here's my white paper:

https://cdn.shopify.com/s/files/1/0858/9696/products/122_102...

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Please don't copy and paste from other threads.

The comment itself is sort of a rehashing of by now ultra tedious material, too. You're far from the only one rehashing it—pun intended—but it would be good if everyone doing it would stop. Repetition is the leading anti-value of this site.

It isn't re-hashing, I actually copied and pasted my own comment, verbatim. And with good reason.

Despite the humorous tone, my comment is about how easy it is to manipulate prices in unregulated, anonymous markets. It might sound like a joke, but it isn't, and it relates to the article in question.

But I'll put it in different wording: in an anonymous, unregulated market, it is very hard to validate transactions as being between unrelated parties, and therefore easy to manipulate prices.

Yes, please don't copy and paste on Hacker News. We're trying for thoughtful discussion here. Imagine what would happen if everyone did that!

HN is an internet forum where we're trying to find and talk about interesting things. Once something has been repeated enough times it ceases to be interesting. This is incompatible with the intellectual curiosity HN exists for (https://news.ycombinator.com/newsguidelines.html).

What makes this so difficult is that repetition is its own form of pleasure and doubly so when indignation is excited. My dream is to get all of us on HN to be aware of this dynamic so we can focus on curiosity—which has quite a different texture—and steer clear of the tedious.

The points you're repeating about Bitcoin have been commonplace for a long time now, and the jokey format dilutes quality further. You're not the only one doing this, but the copy-pasting thing is bad. As if these threads weren't repetitive enough already!

I won’t charge you for consultation here. You should make a token system so people can earn token (somehow) and get rewards like iPhone and perhaps even a stack of American Dollar. Let’s partner with resturants, airlines, gyms and hotels. Every bite, every mile equals some arbitrary token that will expire in 180 days. We will develop a mobile game called crytoGo in which users can earn our token by mobbing Central Park and Settale Centeal Library.

The more active users are physically in the real world, the more trading happens. We will make our users live like a hamster running on a wheel. We give people incentive to live and make money! No more sitting in the office 9-10 anymore! They get social and outdoor life, and we make our money.

This will take off. Don’t waste your time on Facebook. Any crytocurrency marketer tells you to invest in facebook campaign is stealing your money. Listen - find some viral YouTubers and Instagram users to back you. We will make an awesome logo like the Grumpy Cat.

Contact me privately if you would like a quote for a complete proposal. I am happy to work out the details with you. We can refine the bots for sure.

Everything is done behind Tor - even more secure than ever! Our servers are located in Sweden so do not worry about!

Just so you know: I have patented the idea and design of this system. So don’t think about copying. Trust me. My name is yeukhon. I have a B.S in Computer Science. K?

Actually, my next step is tying UCC into a game of collectible, organic Tarot cards. I call it crypto-Tarot.

It's the future.

You should go with "cryptarot". It's cleaner.

Also it might be a juicero blockchain play!

I edited it. I propose CrytoGo for you. Let’s combine the concept of cryto-Tarot and cryto-Go together.

Took me a second to get the white paper joke lol...

Your cryptocurrency is a security. That means you could go to jail over wash trading.

Not sure if joking or...

Why shouldn't we follow the example to its logical conclusion? He's clearing trying to demonstrate that it's the wild west. It's really only the wild west until the SEC starts to enforce existing laws.

Afaik wash trades aren't illegal, you just can't use the losses to lower your taxes.

So nothing wrong with my trades.

They are illegal.

https://definitions.uslegal.com/w/wash-trading/

Oh, forgot to say, I'm not based in the US. Not sure if you know, but there are other countries out there...

hi me and a group of investors, 1000 to be exact, want to acquire 40% of the coins. we can take the value of UCC to us$19999 dollars, contact me for further details

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