Bitcoin Forum

Ok, the miners coin (Nuggets) is close to ready for launch.  I just paid and the programming is on its way including the VGB Protocol.

I'm considering 5% premine for bounties, rewards, etc since everyone one was flipping out about 10%. This 5% would be in a public wallet so what do you say? That leaves 94% for miners.

If people are against the 5% then I'll shut it down, no big deal so let your opinion known. Without this 5% there will be no coins, no money for any bounties or awards, etc.

Now, I need some graphics coin for Nuggets for the client so it can look legit.

Can Anybody here slap together a Nugget coin?  

I'm thinking an old timer look, maybe a gold coin with some nuggets on one side and some old classic cowboy miners on the flip side or the lady, blind justice with holding a sword and scales.  But be creative and let's get something today cause the coin will be done soon.

Thanks!

I know it's not useful, but I've always loved this coin
good luck with your release  :)

http://i141.photobucket.com/albums/r58/garry109/garry1092/APNA2.jpg

That's exactly what I had in mind.  Is that open domain? 

Maybe in the opposite side the blind justice blindfolded woman with the equal scales symbolizing a fair coin for everyone. That's open domain.

Ahahaaaaaaa.  Chicken nuggets.  That's so funny.

How about you allow miners to donate instead? That way you're not taking up premine and bounties still get paid. It should be down to the community to pick up the slack. As you've pointed out before, if Nugget doesn't achieve at least that much, was it worth launching in the first place?

5% is way too much.

So lets say on the low end the coin has 21M coins (like BTC), 5% of that would be 1,050,000 coins.

For the high end, say 300M coins that would be 15 MILLION coins.

A fair pre-mine would be about 0.1% to 0.3% in my opinion (that's 1/10th of a percent to 3/10th of a percent).

Just sayin. And there's no reason to put it in a public wallet, how is that going to work out? Who controls it? Bad idea in my opinion. Just mine the first block and distribute the coins yourself, much easier.

Should it also have a picture of you removing your 11% (or whatever it is now) from the scales while she's not looking?

I would recommend not pre mining personally I dont mind a little for things like that but when people see premined they immediately flip out and assume its a pump and dump. Just go with out because people are very much turned off by premined. Good luck with your coin make sure to have a mac binary that works (would be very very much appreciated) and Im looking forward to your coin:D

Too many people are bitching that I should pay out all the bounties while shouting 1% is too much.

Enough is enough.  I talked to the programmer who has a great rep and he said 5% will be put in a public wallet and EVERY SINGLE COIN will go to you guys in way of bounties, awards, etc, and because I'm paying for this launch and will be here full-time my share is just 1%.

So the miners get 94% plus another 5% coming back at you.

And as a bonus wait until I unveil the VGB protocol, miners will love it.  That's your bonus - this protocol will be what makes this coin a miner's coin.

What do you mean?  How will you guys hold me accountable if I don't put it in a public wallet?  I don't wanna hear crap that I took that 5%.

You guys tell me where to put the 5% premine and I'll do it in the best way possible so you guys know it goes to bounties and whatever you guys want.  That 5% premine belongs to you guys, you do with it as you please.

I've been asking for 3 days now and we can't seem to reach a single consensus - nothing but extremists here.

If you really want this to go well for your launch you should stop telling us to wait until its launched  to announce your big changes. Its going to get stolen after you launch it anyway if its that groundbreaking. Having everyone know what to expect is going to get you a lot more attention than just saying you have a secret to success.

Also if you want this to be a fair launch, an accurate launch time with a pre-announcement of exact launch time is a must. Otherwise people will cry about it being unfair

Just to be sure, this was the feature that will make the coin reward small miners proportionally more than large miners, while magically making sure big miners don't pretend to be many small miners? Sounds like easy profits for any big miners that trivially subvert it.

Ahahaaaaa.'

I tried over the last 3 days to avoid a premine but after going back and forth it seems that's the only feasible way.  Talk to the programmer and ask him how hard I pushed for no premine.

Look it's 5% premine and my 1%.

Many, many coins are getting way more via other schemes.  I will give away these 5% coins in a heart beat to bounties and whatever else you guys want.

I have gone to Scrypt, I chose the name you wanted, I've done everything you guys wanted but I can not get paid a paltry 1% and then expect me to pay to support this coin and work 12 hours per day here too.

The 5% is for this coin, it's for you guys. You dictate where you want it to go and I'll do it.

Keep tabs of every coin I hand out and you will see not one single coin will go in my pocket.  I have been honest so Far and I've done what was best for the miners so here is where you have to trust me just one bit.  Give me just a few days to prove to you this is not a pump and dump coin and I have only good intentions.

Just give me one chance to prove it cause I haven't let you guys down yet.

No premine! 

Why would I want to mine NUGs if you already have a stockpile that you are sitting on?

I don't think you can say this is a coin for miners if you already have premined 5% of the coin...

Another pointless copy-paste coin with no purpose then for OP to instamine and dump on cryptsy or some other joke-exchange for some fast BTC. Damn, Primecoin has all the GPU miners shitting their pants looking for a way to earn a few bucks with some new shitcoin.

I've said it before, there's no way to subvert this protocol.  No way for the big guy to scam the little guy.  You guys don't get it cause you're not finance guys you're computer guys so your mind is on tech stuff.

Even the programmer when I told him he said: oh, that's cool, man.  So I'm glad to hear that.

So just give it a chance don't flip out at the 5% premine.  Most coins use schemes to get way more coins.  IxCoin got 20% and many others much more.

5% is not much and I promise you guys I will convince you beyond a doubt that every coin will go back to you guys.  I will leave no doubt in any of your minds.  I give you my word and I have yet to lie to you guys so please just give me the benefit of the doubt, just for a few days and watch how fast and furious I'll unload those coins to all of you.

Plus his personal 1%

Let's say there are 50 millions coins total. That's 500,000 just for the devs pocket because he only has a small mining operation and can't keep up with us lol

Not gonna touch this one, I'm afraid, doesn't matter how revolutionary its supposed to be

If you guys want i will dump those coins, all of them on you guys in the first week.  Every coin.

Can you guys not see I'm not the regular dev?

I will do anything you want with that 5% premine.  Name it and ill do it.

How can I give people bounties?  How can we develop this coin faster if there's no coins to hand out?

I left it up to you guys and all your answers were I should pay for it out of a lousy 1%.  Lets get real.

And look at all the other coins, clever schemes which yield devs way more than 5%.

No joke!  I'll stick with CAPs... at least they are reminiscent of one of the best video game franchises ever created!

Hope it works out for you, Vlad, but i don't see very miners interested in a "coin for miners" where you premine!

OK.  Listen up.

If you don't want premine I will cancel it cause its not too late.

But then don't cry to me that there's no bounties.

My fee is 1%.  That's not greedy, that chicken shit pay.

And I will not dump my 1%.

So if you guys want NO premine I'll cancel it now.  No premine.  1% goes to me and 99% to you, the miners.

But please get off my ass with the 1% cause I'm not doing this for less.

I thought the 5% premine would be great for the coin but you guys do t trust anyone so it's your loss.

SO THERE IT IS, NO PREMINE.  Just my 1% cause the programmer says its the easiest way to do it.

I'll put my 1% in a wallet which you guys can check to see I'll never sell my coins.

Once again you guys win, I'll do what you want although I think it's a mistake as all coins find schemes to pay out for bounties.

So the bounties will have to come from the miners.

Ok?  NO PREMINE, the 5% premine is now DEAD!

You're going to have to tell us the total number of coins and the number of coins per block reward before we can comment on a fair premine amount.

I'm a programmer that specializes in application and network security, and I can't think of any plausible way to do what I've seen described with the VGB protocol. Am I to believe that the VGB protocol will automatically detect large miners' botnets and server farms and penalize them?

I remain less than convinced.

No wonder ixcoin isn't all that popular. You seem to be aiming really high in what other currencies you're comparing yourself to.

I'll PM you the programmer and talk to him.  If you can paye the 1% without premine then that's great.

IxCoin is but one example.  There's many more. Ripple keels 50%.  Feathercoin or frei only gives out 20% while keeping 80 for themselves. DEVcoin keeps 90%.  Lets get really. 

The total number of coins makes no difference as far the 1% goes, cause the value of a coin, just like a stock will be a direct function of the total coins outstanding.

Fact remains, if anyone thinks 1% is tooth to think up a good coin, spend endless hours trying to get it right, making it tailored for the miners and paying to launch it then spending 12 hours per day supporting it, if anyone thinks 1% is too much, regardless if its 1% of 100 Billion like Ripple of 1 million then that person is utterly selfish or basically a communist.

Find me just one DEV who is doing this for less than 1% and I'll drop the fee. What most of you don't get is that devs have back doors where they pay themselves plenty of coins.  I'm offering full honesty, true transperacy - you will not get this anywhere and in return I only ask 1%.

I have bent on everything and let you guys have your way with e try with but the 1% is not moving.  I wanted SHA256 badly but gave in to Scrypt, I wanted a catchy name like SantaCoin but gave in to Nuggets, I wanted 25% to give back to miners but you guys said 10%, I said ok, then when the oy way was premine you all said not even 5% was ok, which I thought was a bad idea but I have in.

I have given in to everything to prove I'm being honest when I say this is a miners coin.

Please talk to the programmer, as I hired the most expensive one on here and the one with the best rep - everyone I talked to said he's really good.

Ask him if I did not push for all these things and they were just not possible without spending way more money, way more time and having to hire more programmers.

I trusted all of you.  All I ask is that you trust me on 1 thing - the 1% fee.  I will make the wallet public so anyone can see before I sell a sige coin.  This is not a lump and dump for me I want this coin to survive and do well.

I will do all I can I clouding pay out of pocket to make this the best coin out there but this incessant, non-stop hatred and negativity has to stop cause I have bent over backwards to make the best coin posdie for you guys.

Wait until you experience the VGB protocol - even the programmer loved it and he's a techno guy.

Please, let's treat each other with respect, I think I've at least earned that much.


Thank you.

Back to the logo.


The coin is almost ready.

Please guys, I wish I had bounty money to give out but you all voted down the 5% premine so there's no bounty.

But please come up with a coin ASAP and when this coin launches I'll find a way to repay the deaigner even if it's with dollars from my pocket.

Thanks guys.

It's funny how everyone uproars about other coins (aka powercoin which was like ~.004% premine FOR giveaways, bounties ETC), yet everyone is chilled with this guy personally holding 500,000 nuggets on the ready to be dumped and wanting to premine a FURTHER 5% for bounties, giveaways...

Makes sense...  ::)

Maybe you can't read, the 5% is gone.  There's no premine except my 1% fee.

You think that a lot.  Start your own coin, pay the money, spend 12-16 hours per day here and make nothing.

Why don't you mention the coins that keep 80%, 90%, ripple keels 50 BILLION, and the list goes on.

Stop being a hater cause unlike the other coins this coin will at least give some advantage to the miners and make mining more fun.

What a communist to think that a person will work 80 hours per week for free.  I hold two Degrees. My last bank job payed me nearly $10,000 per month.

You think I'm gonna work for nothing?  Get your head checked you hater.

If you guys keep doing this you will chase away any half talented guy and be stuck with regards.

And like I said, 1% is what matters, the amount of coins doesn't as the price is a function of coins outstanding.  DEVcoin is at .00001 cause it has nearly 6 billion coins and growing to infinite.  While LTC is at $2,50 cause it has just under 100 million coins
Then you have coins like freicoin or fearherxoin within nearly 500 million coins and china coin with over 500 million coins.

It's all relative to the float.  I chose a coi number so there would be enough to go around in case it got popular. It's 1%, and it doesn't matter how many since the ultimate value depends on the total coins in the system. 

But I fully expect haters to belly ache if the total coins are 100 million cause that's 5 times more than Bitcojn and they'll shit themselves of its 500 million cause that's as many as china coin and they're communists, and birth a cow if its 1 billion cause that's too close to ripple's 100 Billion coins.

I chose a number which made the most sense and my 1% would have givens the same wealth, if any, regardless of how many coins outstanding cause in the end the value is fully dependent on that factor.

But I'm sure ill have to explain this to the haters 10 more times once I announce the details of the launch tomorrow.

And one more time - I will put all my coins so everyone can see them and see that I will not sell a single coin.  Fore it's all or nothing.  This coin makes it big or I'll loser money, time and effort but I'm
Getting exhausted by the mindless accusations when I've worked so hard to give you guys exactly the coin you want and you have still not seen it in action.

Mine it just one day and if its not the most fun and rewarding coin you've mined then kill it.

Can we get back to a logo.

Don't let the small minds detour you.  A coin giving 99% to miners and designed to help the smaller miner is a huge win.  Don't let fools being paid by other coins to subvert this coin affect your judgement.  They're jealous haters and don't want competition.

Lets focus on a logo, a nice miner's coin. 

I promise to pay out of my pocket if I see one I really like


How about 500,000 devcoins?  That's not a bad reward. 

Thank you guys and lets stay positive!

lol, 5% premine, is it a joke? People premined 1% and was criticized to death, now we want 5%  ;D

I will make a coin with 3% premine!!! And of course I will make a bundle of it...

I'm curious why you feel you deserve the 1% anyway? You talk about all your hard work, but you hired two programmers to do it for you...

What money does it cost to start a clonecoin? If you're paying more than $5 to have someone else rename Litecoin for you, then I'm not sure you're spending your money wisely.

This obsession with mining is missing the forest for the trees. Mining facilitates transactions and should only be a part of a cryptocurrency (of course an important one!). Just like how not everyone works in the financial sector, but they do deal with it. That and centralizing your currency will doom it.

should be an interesting launch either way

Agreed. In the other threads, Vlad described this as a "currency for the miners". How does this not ring more alarm bells for people? A currency made just for the purpose of benefiting its printers! Miners exist to support the currency. Not the other way around. Getting it the other way around is to establish a useless charity aimed at people doing useless mining.

I've been on here 16 hours per day.  And paying someone else means I had to earn that money so it is my work.if you think 1% is south money then by All means, start this same coin and do it for free.

Can't you guys see that 1% is a joke?  No dev gets only that much.  There's so many insider ways to get coins and back doors you guys have no clue.

Here I am being honest and happy with 1% and you guys aren't happy.  Talk about selfish greed.

I understand now why no dev have a damn about making a coin to suit you guys.  

I'm Highly educated so my time is worth way more,  and I work hard and expect to be here all day long and most nights. And 1% is actually a joke to me.  I only accepting it cause I have high hopes that it will be worth way more one day otherwise I wouldn't waste one hour on this coin for 1%.

BTC, LTC, NMC, and others don't have this, nor did they need it to increase adoption. I don't understand why you have to play by different rules from everybody.

Do what normal people do. Have mining rigs ready to go on launch and mine your own coin. Stealing coins without mining work is not beneficial.

You still are missing the big picture. The community is a vital aspect of any new crypto. Treating them nicely, taking ethical steps, responding to general needs etc goes a long ways.

You seems be here today only? check all the alt coins how many have premine more than 1%?? Yet all being criticized. Look at the recent launched ones, Redcoin premined 1 mil out of 329 million, Cosmoscoin, Galaxycoin, Grandcoin, Diamond etc have no premines. Are you dreamining here with 5% premine?? lmao.

I'm starting to get the feeling all this talk of a premine is a publicity stunt and there will be no premine at all...

At this point, this is just too silly to be anything else

In my opinion, devs are entitled to some premine only when they bring something new to the table, take for example PrimeCoin. I doubt many people would of complained about some reasonable PrimeCoin premine and yet the PrimeCoin dev chose not to premine.

From what I read, basically, You are paying some people to make a Litecoin clone, and that's not adding anything new to what we already have.

My advice is to learn from Megacoin, it has no premine as far as I know. MEC was announced and nobody paid any attention to it -most likely that was the intention of the dev, with a "crapy" pink logo- So the dev could solo mine without competition for a while. After around a month later, the dev started to announce updates and websites, getting people interested in MEC. Today, MEC's future looks pretty good. No premine was needed and 100% goes to the miners.

I think most people are mistaken thinking that launching a coin will make them rich.

If you really want to get rich taking advantage of cryptocurrency then start your own exchange! That's where the money is! you take a % of every cryptoCoin that gets traded in your exchange, far better than a % of just one coin, and nobody complains about premine/instamine. How old do you think is Cryptsy.com? not more than 3 months, I think. Begin now when there's little competition!

if you launch your coin with 1% for yourself, then there's no way to prevent another guy to just copy/paste your coin, change some parameters like 0% to the dev and launch the coin with no premine under a new name. Good luck competing with a clone like that.
 

You obviously have no idea who you are talking to and you should probably get your own head checked or out of clouds. I'm not a hater, I am talking from personal experience as Powercoin was my coin. So before you tout all these wonderful job figures, baseless accusations and think you can sweep on into these forums and bring gods gift to the community. Think again. 

Having a tantrum all over the alt coin board about people complaining over your premine isn't going to help your coin. IF it was really for the miners AND you are some multi-millionaire banker  ::) I don't think 1% of your worthless coin is really a big issue. So stick to your promises that this is a coin for the miners and stop sooking all over the forums. It looks pathetic.

Also please stop talking as if your doing any of us a favour. ANYONE can do what your hoping to launch. Get a life, I never intended on mining your coin, just pointing out the gleaming obvious.

I EMAILED THE PROGRAMMER TO REMOVE THE 1% premine.

Now there's ZERO premine.

This is not America!

Unreal!!!



Good night.  I'm going to bed.  I hope those of you who weren't getting enough with 99% can now rest easy -you're getting all of it, 100%.  Congrats!