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Title: 27% of all Orbitcoins ever were instamined in First 6 minutes Post by: TreasureSeeker on August 16, 2015, 01:53:03 AM Just in case anyone is tempted by the recent Orbitcoin thread which is self-moderated, hence the reason for this separate thread, as otherwise this would probably be deleted....
1 million coins out of a total ever-to-be-mined of 3.7 million, in other words 27% of all coins ever to be produced, were instamined in the first 6 minutes of mining. Proof: http://atlas.phoenixcoin.org:1080/chain/Orbitcoin?count=100&hi=20 These originally ended up at the Orbitcoin "foundation" address" of odYLBLUg6xtR8jvKus3NyzhFERwKTtTCLi http://atlas.phoenixcoin.org:1080/address/odYLBLUg6xtR8jvKus3NyzhFERwKTtTCLi Supposedly, according to https://www.facebook.com/orbitcoin/posts/201834529981371 "1 million sit's in the foundation wallet from the start and can be seen here (odYLBLUg6xtR8jvKus3NyzhFERwKTtTCLi)" "the foundation has a goal, to spread out the coins among new crypto users on scientific forums, and open source science projects, well also supporting the Orbitcoin exchange price for miners." Between July 2013 and December 2013 the foundation address balance reduce from 1 million orbitcoin to just 51,275.45 orbitcoin. It seems to have been dispersed to other addresses, thus making the "foundation address" redundant. Where did it go I wonder, and why wasn't it kept in the foundation address for transparency? Title: Re: 27% of all Orbitcoins ever were instamined in First 6 minutes Post by: cocales on August 16, 2015, 01:58:18 AM :o uff too bad, I going to get goldcoins then.... ::)
Title: Re: 27% of all Orbitcoins ever were instamined in First 6 minutes Post by: iGotSpots on August 16, 2015, 04:53:54 AM No shit. That's why Cryptsy removed it the first day they added it the first time
Title: Re: 27% of all Orbitcoins ever were instamined in First 6 minutes Post by: vincentvincent on August 16, 2015, 07:21:27 AM There is only 1 person that is hoping to retire soon. I guess we all know who that is.
https://bitcointalk.org/index.php?topic=1150046.msg12130558#msg12130558 Title: Re: 27% of all Orbitcoins ever were instamined in First 6 minutes Post by: Kuttingcorners on August 16, 2015, 03:39:34 PM fuck i thought i was going to retire of ten bux. ???
Title: Re: 27% of all Orbitcoins ever were instamined in First 6 minutes Post by: Topbanker on August 16, 2015, 03:47:14 PM fuck i thought i was going to retire of ten bux. ??? I just retired thx to orbitcoins!! :D Title: Re: 27% of all Orbitcoins ever were instamined in First 6 minutes Post by: bit1 on August 16, 2015, 05:42:12 PM Wow, Such instamined 27 % is certainly huge. Even 5% is a lot.
Title: Re: 27% of all Orbitcoins ever were instamined in First 6 minutes Post by: marechoux on August 16, 2015, 05:53:39 PM even without instamine the thread of Orbitcoins is totally ridiculous, but I guess if they do it it because some idiot people are ready to threw their money into scam like this....
Title: Re: 27% of all Orbitcoins ever were instamined in First 6 minutes Post by: NorrisK on August 16, 2015, 06:37:20 PM There is only 1 person that is hoping to retire soon. I guess we all know who that is. https://bitcointalk.org/index.php?topic=1150046.msg12130558#msg12130558 Yeah, one of the most funny thread around... Rule number one is not to touch any coins without research. Rule number two is not to buy any coins that have people saying that you will be rich. Title: Re: 27% of all Orbitcoins ever were instamined in First 6 minutes Post by: Snail2 on August 16, 2015, 09:45:59 PM As far as I can remember in it's time Orbitcoin was the most heavily preminied coin (actually 66%), because of a coding/logical error restricted the coin supply to only 1.526 million coins instead of the originally configured 31 million. All of this paired with 0 diff at start. Cryptsy suspended it after the first day of trading, and for a while it was traded only on some of the most shitty exchanges "of the age" like coins-e and phenixex... it was lot's of fun :).
Title: Re: 27% of all Orbitcoins ever were instamined in First 6 minutes Post by: Sylon on August 16, 2015, 10:40:27 PM We found an Evan Duffield competitor. https://i.imgur.com/skylK.png
Title: Re: 27% of all Orbitcoins ever were instamined in First 6 minutes Post by: farFX on August 17, 2015, 12:16:53 AM Just in case anyone is tempted by the recent Orbitcoin thread which is self-moderated, hence the reason for this separate thread, as otherwise this would probably be deleted.... 1 million coins out of a total ever-to-be-mined of 3.7 million, in other words 27% of all coins ever to be produced, were instamined in the first 6 minutes of mining. Proof: http://atlas.phoenixcoin.org:1080/chain/Orbitcoin?count=100&hi=20 These originally ended up at the Orbitcoin "foundation" address" of odYLBLUg6xtR8jvKus3NyzhFERwKTtTCLi http://atlas.phoenixcoin.org:1080/address/odYLBLUg6xtR8jvKus3NyzhFERwKTtTCLi Supposedly, according to https://www.facebook.com/orbitcoin/posts/201834529981371 "1 million sit's in the foundation wallet from the start and can be seen here (odYLBLUg6xtR8jvKus3NyzhFERwKTtTCLi)" "the foundation has a goal, to spread out the coins among new crypto users on scientific forums, and open source science projects, well also supporting the Orbitcoin exchange price for miners." Between July 2013 and December 2013 the foundation address balance reduce from 1 million orbitcoin to just 51,275.45 orbitcoin. It seems to have been dispersed to other addresses, thus making the "foundation address" redundant. Where did it go I wonder, and why wasn't it kept in the foundation address for transparency? See below for what has happens with funds. I don't see anything wrong with this. Pre-mine ORB was used to help sustain and promote. https://cryptocointalk.com/topic/40243-orbitcoin-advancement-fund/ ghostlander, on 03 Aug 2015 - 3:43 PM, said: I'm going to use this thread for accounting needs related to our Advancement Fund. It contains the remaining part of the original pre-mine after having the rest spent in 2013 on various bounties, promotion, infrastructure maintenance, etc. Miners have received probably the largest chunk of it in lucky transaction fees. There were 150K ORB left by the summer of 2014. They have been used for the following means: 7.6K ORB paid out to the miners of the forked v1.3.2 chain early in 2014 until v1.4 had been released with the PoW mining fixed (Orbitcoin v1.3.2 Coin Exchange); 600 ORB distributed among the people who mined the first 50 PoW blocks after the switch to NeoScrypt in December of 2014 (100 ORB to the 1st block finder and 10x payouts for the next 50 blocks); 5K ORB sent to David who had designed an excellent web site for Orbitcoin (3-Aug-2015). 136793.557749 ORB available for the future challenges oRBBYYiaQ6Kw5fhf2b9YiT86HmynCBsoej Title: Re: 27% of all Orbitcoins ever were instamined in First 6 minutes Post by: favdesu on August 17, 2015, 07:47:37 AM sounds and looks like the typical pre-mine scam'n'dump coin. wouldn't touch it to be honest.
Title: Re: 27% of all Orbitcoins ever were instamined in First 6 minutes Post by: HCLivess on August 17, 2015, 08:16:25 AM Thank you for your investigation, very much appreciated
Title: Re: 27% of all Orbitcoins ever were instamined in First 6 minutes Post by: kelsey on August 17, 2015, 08:25:07 AM wow such little instamine is rare nowadays ;D
Title: Re: 27% of all Orbitcoins ever were instamined in First 6 minutes Post by: farFX on August 18, 2015, 08:26:36 PM I think orbitcoin is a unique coin with an interesting start in 2013. Regardless of what happened to the foundation fund, still having BTC value two years later is a good thing as it shows there is still some value and interest in the coin.
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