LibertyCoin Prices Slashed After Internal Finger Pointing and Controversy

These aren’t fun days at all if you find yourself being part of the LibertyCoin community. Despite new features being announced and completed, there currently is so much controversy around this Crypto and the prices are getting more and more volatile.

As I mentioned yesterday, LibertyCoin has some new features available, including LibertySend, which allows for anonymous transactions. Yesterday was also LIberty Day, but that turned out to be the beginning of the end (so to speak).

An announcement was made by and about IconicExpert, former PR manager and XLB community member. Supposedly, he was taking over as lead developer for XLB, after completing the LibertySend feature himself.

Shortly after however, a message was posted on the BitcoinTalk forums , allegedly by someone who hacked the original LIbertyCoin BitcoinTalk account, and told everyone IconicExpert was no longer part of XLB because of his previous BlackCoin shenanigans.

For those of you unaware, IconicExpert had organised a BlackCoin event and collected roughly $13,000 in donations to get the event funded. However, the event never took place, and people didn’t get their money back either (yet?).

In turn, IconicExpert now claims he is the victim of all of this, and the original “inner circle”waited for his LIberty Day announcement so they could dump their coins at a very high price. A lot of finger pointing going both ways without much proof of who did what exactly.

Regardless who is right and who is wrong, as I am not taking sides here, but just reporting what we know to be facts at this point, the real victims are the LibertyCoin community. Not to mention the people who have a ton of money invested.

This once again goes to show you that investing in Crypto, and more specifically alt coins, means you have to do your own research about a coin before investing. It‘s impossible to see every pitfall along the way, but most can easily be avoided.

We will keep you updated on the LibertyCoin situation as more news becomes available, but I can see the community taking over this coin fairly soon. That is, assuming there are enough people willing to save it after all of this.

Prices are currently below 5,000 Satoshi, compared to roughly 13,500 yesterday evening when the Liberty Day announcement was made. We will see if and when XLB can recover from this “debacle”.