Asiacoin. It was a crypto currency that exploded overnight and became a temporary phenomenom. The excitement and rush as I saw it's value climb by the minute. There was nothing like seeing that mountain peak climb higher and higher. Then, one day, I woke up as excited as ever to check the value only to discover over 400 messages in my inbox, exclamation marks all over my screens and my name and personal information plastered over forums. It was soon clear that I had been implicated as part of crypto con that left people out of 3/4 of a million dollars worth. This is my story.
It all started on a cold and boring night. I had been tired of gaming and was sick of "getting by". After several hours of internet surfing I had come across an internet article. This article was touting the idea of a new form a currency that consisted of strictly bits of data. A currency that was more secure than any before. A currency to change the world. Inspirational stuff right?
My natural next move was to look into this idea. After all if I can continue to sit at a powerful computer not having to get out into the world (as I had been trying to do at all costs). Then why the hell should I not figure this new curiosity out?
What followed was three sleepless nights of google searches, that lead to articles, which lead to comment surfing, which proceeded forum browsing which lead me to many valuable resources on economics, trading theories, mining practices, upcoming altcoins and many new friends.
On April 22, 2014 I decided to take the dive and work towards obtaining some of the new currency for myself. Bitcoin was too expensive, even lite coin was out of my budget. I decided I needed to start mining. After all I did have a fairly decent gaming computer I had decided to stop gaming on.
Now, I can’t remember what coin I started with but it was some small unknown and is I’m sure now dead. However, I had used my computer to obtain a form of currency. While the reward was only fractions of a coin, the idea had been implemented. The excitement was unprecedented in my experience.
That was when one of these new friends suggested to me that I start trying to earn coins through jobs. I was into video editing and sound editing at the time so that was my natural route. The first coin I came across offering a decent bounty was, you guessed it, Asiacoin. The promotional video bounty of 500 or so had been unclaimed. Next to my previous reward through mining, this was an unclaimed goldmine. I had to have it.
I decided to finally take a rest so I could be focused on this new undertaking. After waking up I was more energized then ever. I set out to make a solid informational experience for anybody who may be interested in getting their own hands on some AsiaCoin. I dived through stock photos, sound tracks and forums to make sure this was something that not only won the bounty but did what it was supposed to do in a professional and pleasing manner. I understood it as being part of setting up how this new coin would be perceived from then on out. If only I had known where that rabbit hole would take me.
After many revisions I decided the video was ready for submission. I went to the Web page, clicked that browse button, located it on my drive and after one last watch, I clicked submit.
That was it, I crossed my fingers and went to smoke. One hour had passed, no reply. “Could I have made a mistake?” I told myself Two hours, passed. “Of course, someone better came along”. Five hours, “Oh well, it was a fun try”. I decided it was time to rest some more. After some interesting dreams about business meetings, I awoke to find a reply in my inbox from non other than the AsiaCoin developer.
My eyes widened, my heart pounced, a bead of sweat formed on my forehead. “What could this reply be?”, after a minute of calming myself down I brought my cursor to the email link and firmly pressed the left mouse button with one solid click. The window sprung up and it started off with a congratulations, I had done it.
My hard work, time and effort had resulted in receiving a bounty of this upcoming altcoin. After providing my wallet address, it was there. Just like that, the game was truly on.
The next week was full of excitement. Hopeful thoughts flooded the forum, the value of this coin I had played a part in was steadily growing. I felt a sense of accomplishment, not just that there was a sense of pride. The limit was unknown. This coin had many things going for it and the community had embraced it. “How much will that one video make me?!”.
You all know where this story leads though, let’s get to the point.
It’s May 4th, 2014. 400 messages in my inbox, exclamation marks all over my screens. My name and personal information plastered over forums and chat rooms. I turn on my phone, 87 missed calls! I open facebook, my family members are being harassed! It was time for some defens……my phone rings again. I answer it.
“Is this Dallas? Did you do it? You’re a piece of shit, give me my money back”
“Is just found out what happened. I promise you, I had no idea this scumbag dev had these intentions. I just made a promotion video man”
“…….you’re a dumbass, you do know how people are blaming you right?”
“how?”
“In your video, you can clearly see your email man! Are you sure you didn’t do it? Just give me a thousand bucks and I’ll defend you”
“if I had a thousand bucks, I wouldn’t give it to you”
“Okay, I believe you” They hung up.
After about 34 more phone calls that nearly followed the exact same script, I had some defenders for my name on the boards. Some called me an idiotic fool but they still backed me up. Considering I had death threats and a physical bounty forum with my name in big, bold letters. I was glad to take any defense I could. Eventually my name was cleared and the majority of forums were removed. You can still find one or two out there though.
This was quite the experience and I doubt it is a common one but I want to let you know, the crypto world is not a game. The actions taken in this world rebound into peoples’ lives. It is very enjoyable but can be dangerous. Do your research, know your tracks. All this being said, the crypto system is our world’s best bet for a sustainable future, I still believe in it and while I don’t claim bounties anymore. I do still invest. The research I did in those first few days has been invaluable to me and many others.
There are many inherit risks with any currency but all things considered, I would take a more optimized crypto system over the current world economic system any day.