Create a new version of paste:

A person going by the handle wolong built notoriety over the course of several months. Using capital from his friends, he manipulated cryptocurrency markets to his own gain. His efforts increased over time, as did his infamy on various sites including twitter, 4chan, bitcointalk, and on IRC channels. Some chose to follow him, and among them were winners and losers. Most were unaware, and caught blindsided by his manipulative antics. Eventually he developed a cult-like following, even having his new followers have to pay him just to enter his IRC chatroom! His options for manipulating markets was limited by his friends' capital, and by the fact that there were many other players in the markets. He thus decided to create/attach himself to a new coin, a coin named Pandacoin. This brought him attention he did not expect and did not want.

A group had been watching him manipulate markets and brag about it. We are that group. We did not like his tactics; they are toxic to the rise of cryptocurrency validity. His tactics are akin to the underhanded measures taken by those in control of the stock markets, FOREX market, precious metals market, and fiat currency in general. We noticed that there was already a Pandacoin in existence. It seemed a silly and foolish move for him to release a coin with a name already in existence, and it just so happens to be that silly is right up our alley! We decided to literally one up wolong and create the third Pandacoin.

We have seen, over and over, the creation of new cryptocurrencies with premines and IPOs, only to have the developers and first adopters quickly dump the entirety of their coins when they were added to an exchange. This damages the community as a whole, and a lot of people end up losing money over this. That is why our Pandacoin had zero premine. Zero premine is fair and prevents such greedy exploitation. We knew what wolong and his ilk were all about - manipulating the markets for their own short-term gain. It was obvious that they would not be able to remain cohesive and create a real currency with any semblance of community. It played out exactly as we expected, with the developers, wolong, and initial adopters turning on each other and dumping their coins, absolutely wrecking the price that they had inflated. They couldn't hold it together a week!

Our initial goal was solely to expose wolong and his cronies for the cretins that they are. We had watched them mess with several coins which negatively affect many honest miners and traders. We have documentation of his twitter feed, bitcointalk posts, and IRC logs regarding his manipulation of dogecoin and other coins. He had no interest in fostering a community or building a long term viable currency. His only interest was in himself, and similar minded people followed him. We wanted to point this out to people who were not aware of his past so that they would not be bamboozled and lose money and time. Some took note of our warnings, but unfortunately many did not. In retrospect, we were clearly right, and our intitial goal was attained. Why stop there? We can do more! We have fostered a grass roots community of miners and traders who want an honest coin, without premines, without IPOs, without shady developers, without all of the toxicity that has sprung up in the cryptocurrency world.

The centralization and manipulation of monetary markets has created global problems. Wars have been fought. Poverty has been induced. We have been enslaved to debt while a select few families live in obscene opulence. Cryptocurrencies are a possible solution to this grave issue. Cryptocurrencies can restore the power to the people, to me, to you, to us.

Our Pandacoin is a step in that direction.

*Property of Wewlad*