TL;DR: Lindacoin is dead; Long live Lindacoin!
Sadly for those who loved the linda coin as an investor or for the community, there are some shady things going on in the Linda world. At the time of writing this post, even their website, lindacoin.com, is being redirected to a bitcointalk announcement post. (This is the one)
Good thing is, it's only a few bad apples and in Linda's case, it's the owner.
What's Linda
Before we get into it, a quick reference to those that don't know:
The Linda wallet comes with the masternodes, which receive 50% block reward.
What's going on at Linda
A few days back they had made some really cool announcements:
- Masternode collateral to be reduced from 30M to 2M - in Q2 2018.
- A partnership news in telecom sector. Something very few coins have done. - Although the specifics of it weren't disclosed.
- More exchange listings. Last week Linda got listed at Graviex. They are/were attempting to get listed on a couple of other exchanges too.
What's really going on at Linda
Although I like the project and the Linda devs who are leaving the project seem to still care about the project, some new shit has come to light dude!
Apparently the Linda owners own 80% of the Linda premined. Have a look at the below screenshots:
I also took some screengrabs of the official Lindacoin discord. Although no one is talking specifics what exactly went wrong, it's more than apparent that the Lindacoin community [Devs + Lindawhale] uncovered something last week, that Linda owner did and now want nothing to do with him specifically. Those who are leaving the team are going to create a hard fork and another wallet where you'd receive the new coins 1:1.
Here are some of the screenshots from their official discord:
Last week:
Yesterday:
Today: Community announcement of the hard fork.
Official Lindacoin Twitter response to that:
What the Lindacoin devs revealed in Bitcointalk forum about the Lindacoin owners:
- San Law, the current owner of Lindacoin lied in the whitepaper about the Max supply being infinite so that he could take advantage of the price.
- He also kept sabotaging the Lindacoin team's work from inside so that he gets to keep the coins.
Bitcointalk announcement by the Lindacoin devs
What will the Lindacoin hard fork consist of:
It is important to note that the Lindacoin official discord has much less discussion on the owner San Law's activities. Much more is available on the Bitcointalk post above. So personally I tend to believe the devs here since not only the owner seems to be doing shady things but his previous team also had left him a similar way in the past, something I gathered on twitter.
Update: Looks like there's been a compromise on this situation from the Lindacoin owners and the dev team. Most coins held by the owner are going to be transferred to Linda devs, along with the bitcointalk forum account info.
While I don't exactly know what it means, because it was only a few hours ago that the devs were fired by the Linda project. But the coin is 23% up, which is nice :)
About me: To bring some clarity, I'm only an investor and I hold Lindacoins. However I've taken my initial investment out after making decent profits. This is not meant to be an investment advise.