Title: Which coins are premined? Did satoshi really premine 1 million bitcoins? Post by: taltamir on January 10, 2014, 03:35:56 AM Which altcoins are premined (and which aren't)?
Also, I had heard that satoshi premined 1 million coins before releasing bitcoin to the public. Is it true about satoshi? Title: Re: Which coins are premined? Did satoshi really premine 1 million bitcoins? Post by: 2bfree on January 10, 2014, 03:40:26 AM I he did he deserved it he made one of the greatest contributions to the human race and freedom. He reminds me of Tesla who tried to give free unlimited energy , communication and more to the human race just to get crushed by evil greedy bustards. Satoshi was smart to work underground. Maybe we are lucky he lives a long life and one day before he departs us give us some words of wisdom but if he doesn't what he left is amazing and give me hope to live life and know there is hope for real freedom!
so if he premind who cares, make your coin and don't premine it if that bothers you he gave you the way, so don't worry about it. Title: Re: Which coins are premined? Did satoshi really premine 1 million bitcoins? Post by: manobra on January 10, 2014, 03:46:43 AM I he did he deserved it he made one of the greatest contributions to the human race and freedom. He reminds me of Tesla who tried to give free unlimited energy , communication and more to the human race just to get crushed by evil greedy bustards. Satoshi was smart to work underground. Maybe we are lucky he lives a long life and one day before he departs us give us some words of wisdom but if he doesn't what he left is amazing and give me hope to live life and know there is hope for real freedom! so if he premind who cares, make your coin and don't premine it if that bothers you he gave you the way, so don't worry about it. Back to The question.... (He didn't ask your opinion) Title: Re: Which coins are premined? Did satoshi really premine 1 million bitcoins? Post by: taltamir on January 10, 2014, 03:52:16 AM I he did he deserved it he made one of the greatest contributions to the human race and freedom. He reminds me of Tesla who tried to give free unlimited energy , communication and more to the human race just to get crushed by evil greedy bustards. Satoshi was smart to work underground. Maybe we are lucky he lives a long life and one day before he departs us give us some words of wisdom but if he doesn't what he left is amazing and give me hope to live life and know there is hope for real freedom! so if he premind who cares, make your coin and don't premine it if that bothers you he gave you the way, so don't worry about it. I didn't ask if it was bad or good or if he deserved it or not, I asked if it happened. I need more time to formulate my opinion on the issue (although I am currently leaning towards "yes he deserved it"); but discussing this is not the purpose of this thread. Different people are of different opinion on the matter, and it becomes especially pertitent for altcoins which make little to no changes. It would be great if we could compile a list of premining info for each coin so people can make their own decisions. Was litecoin premined? doge? nxt? frei? etc. Actually, how could I got about finding out this info myself? Title: Re: Which coins are premined? Did satoshi really premine 1 million bitcoins? Post by: whtchocla7e on January 10, 2014, 03:57:18 AM I he did he deserved it. It's questionable whether or not he deserved it and whether or not it was for the good of Bitcoin. Title: Re: Which coins are premined? Did satoshi really premine 1 million bitcoins? Post by: Melbustus on January 10, 2014, 04:05:36 AM Also, I had heard that satoshi premined 1 million coins before releasing bitcoin to the public. Is it true about satoshi? No. Bitcoin has no premine. Some estimates suggest that Satoshi has mined up to 1m coins, mostly during 2009 when there were few other miners and difficulty was 1. But his coins were not pre-mined. Incidentally, none of the coins suspected of being Satoshi's have ever been spent. IMO, it's unlikely they ever will be. Title: Re: Which coins are premined? Did satoshi really premine 1 million bitcoins? Post by: BitThink on January 10, 2014, 04:24:14 AM Bitcoin v0.1 was public released on 17:05:49 -0800, January 9, 2009. https://en.bitcoin.it/wiki/History
At that time, block 1 - 14 were mined. So you could say Satoshi may have premined 14 blocks (700 BTC). :) Remember 700 BTC that time worth nothing. block 14: https://blockchain.info/block/0000000080f17a0c5a67f663a9bc9969eb37e81666d9321125f0e293656f8a37 block 15: https://blockchain.info/block/00000000b3322c8c3ef7d2cf6da009a776e6a99ee65ec5a32f3f345712238473 Certainly, we don't know how many other people joined that time, so we don't know how much was mined by Satoshi. Nonetheless, after block 15, there's no premining any more since he had already published the code. Title: Re: Which coins are premined? Did satoshi really premine 1 million bitcoins? Post by: rix5 on January 10, 2014, 05:00:15 AM what exactly is a 'premine' and why is this not in altcoinsection?
Title: Re: Which coins are premined? Did satoshi really premine 1 million bitcoins? Post by: BitThink on January 10, 2014, 05:39:00 AM what exactly is a 'premine' and why is this not in altcoinsection? Premine means the developer begins mining before release the code/software, therefore in this period nobody else can mine.Title: Re: Which coins are premined? Did satoshi really premine 1 million bitcoins? Post by: unkn0wnPlayer on January 10, 2014, 05:42:14 AM $1k for a BTC is (potentially) far from the ceiling. If all goes well, I bet Satoshi will cash in some years down the line.
Title: Re: Which coins are premined? Did satoshi really premine 1 million bitcoins? Post by: drmosh on January 10, 2014, 05:43:25 AM I premined 10k bitcoins back in 2002
;D Title: Re: Which coins are premined? Did satoshi really premine 1 million bitcoins? Post by: tk808 on January 10, 2014, 05:45:29 AM No-premine. But he mined his own creation from day 1. Has about 960,000btc
Satoishi deserves every bit of billions and billions of dollars. The system he or they created is no less then Microsoft or Macintosh... Xerox..etc. Instead of creating some fresh and new that contributes to the decline of our modern monetary system, people are seeking to make a quick profit from someone elses work. So in essence, they copy and pre-mine their own coin. That's the natural model for business though. No Ethics. Title: Re: Which coins are premined? Did satoshi really premine 1 million bitcoins? Post by: manobra on January 10, 2014, 12:48:49 PM You can see if an alt(coin) has been premined if, on its day of launch too many block are already been discovered (that means the developer mined before made public).
PS: For those who loves Satoshi Nakamoto and wants to make it public, please go to www.ilovesatoshinakamoto.com This post is simple and requires real facts to be answered, not a place to publish your love to Nakamoto (lets be objective in our reponses, when the question has nothing to do with your opinion, but with facts) THANKS SATOSHI NAKAMOTO!! I LOVE YOU!! ahaahahah!! Title: Re: Which coins are premined? Did satoshi really premine 1 million bitcoins? Post by: taltamir on January 12, 2014, 12:00:53 AM At that time, block 1 - 14 were mined. So you could say Satoshi may have premined 14 blocks (700 BTC). :) Remember 700 BTC that time worth nothing. Thank you, so satoshi premined 700 BTC, and it is estimated he owns 1 million BTC which he got through after the code was released when BTC was cheap to buy and easy to mine.block 14: https://blockchain.info/block/0000000080f17a0c5a67f663a9bc9969eb37e81666d9321125f0e293656f8a37 block 15: https://blockchain.info/block/00000000b3322c8c3ef7d2cf6da009a776e6a99ee65ec5a32f3f345712238473 That is actually pretty decent. Anyone else think its worthwhile to know the specific amounts premined for each coin? Title: Re: Which coins are premined? Did satoshi really premine 1 million bitcoins? Post by: Pitstop on January 12, 2014, 12:11:06 AM Did satoshi mine BTC? You mean the Team of Google Dev's that created it don't you?
Title: Re: Which coins are premined? Did satoshi really premine 1 million bitcoins? Post by: undeadbitcoiner on January 12, 2014, 12:13:49 AM At that time, block 1 - 14 were mined. So you could say Satoshi may have premined 14 blocks (700 BTC). :) Remember 700 BTC that time worth nothing. Thank you, so satoshi premined 700 BTC, and it is estimated he owns 1 million BTC which he got through after the code was released when BTC was cheap to buy and easy to mine.block 14: https://blockchain.info/block/0000000080f17a0c5a67f663a9bc9969eb37e81666d9321125f0e293656f8a37 block 15: https://blockchain.info/block/00000000b3322c8c3ef7d2cf6da009a776e6a99ee65ec5a32f3f345712238473 That is actually pretty decent. Anyone else think its worthwhile to know the specific amounts premined for each coin? Today almost every alts are premined for Development but that day Satoshi didnt mined for Developmet he mined to verify his work and within 6 days he lunched software and codes everything to Public and when BTC was public everyone now also can verify it was only 14 block Mined. Title: Re: Which coins are premined? Did satoshi really premine 1 million bitcoins? Post by: 4w4k3ning on January 12, 2014, 12:15:57 AM I dont care if the "x" coin is premined or not. ;D
Title: Re: Which coins are premined? Did satoshi really premine 1 million bitcoins? Post by: thehashman on January 12, 2014, 12:19:40 AM At that time, block 1 - 14 were mined. So you could say Satoshi may have premined 14 blocks (700 BTC). :) Remember 700 BTC that time worth nothing. Thank you, so satoshi premined 700 BTC, and it is estimated he owns 1 million BTC which he got through after the code was released when BTC was cheap to buy and easy to mine.block 14: https://blockchain.info/block/0000000080f17a0c5a67f663a9bc9969eb37e81666d9321125f0e293656f8a37 block 15: https://blockchain.info/block/00000000b3322c8c3ef7d2cf6da009a776e6a99ee65ec5a32f3f345712238473 That is actually pretty decent. Anyone else think its worthwhile to know the specific amounts premined for each coin? Today almost every alts are premined for Development but that day Satoshi didnt mined for Developmet he mined to verify his work and within 6 days he lunched software and codes everything to Public and when BTC was public everyone now also can verify it was only 14 block Mined. If it was a test he could have just started a new blockchain with the software release... Title: Re: Which coins are premined? Did satoshi really premine 1 million bitcoins? Post by: BitThink on January 12, 2014, 12:21:07 AM Yes, it's testing rather than premining. Satoshi could've mined around 1000 blocks in that 6 days, but he just mined 14 blocks. Apparently he ran it very sparsely. Only after releasing, he run miner continuously to support the system.
Title: Re: Which coins are premined? Did satoshi really premine 1 million bitcoins? Post by: BitThink on January 12, 2014, 12:23:32 AM At that time, block 1 - 14 were mined. So you could say Satoshi may have premined 14 blocks (700 BTC). :) Remember 700 BTC that time worth nothing. Thank you, so satoshi premined 700 BTC, and it is estimated he owns 1 million BTC which he got through after the code was released when BTC was cheap to buy and easy to mine.block 14: https://blockchain.info/block/0000000080f17a0c5a67f663a9bc9969eb37e81666d9321125f0e293656f8a37 block 15: https://blockchain.info/block/00000000b3322c8c3ef7d2cf6da009a776e6a99ee65ec5a32f3f345712238473 That is actually pretty decent. Anyone else think its worthwhile to know the specific amounts premined for each coin? Today almost every alts are premined for Development but that day Satoshi didnt mined for Developmet he mined to verify his work and within 6 days he lunched software and codes everything to Public and when BTC was public everyone now also can verify it was only 14 block Mined. If it was a test he could have just started a new blockchain with the software release... Title: Re: Which coins are premined? Did satoshi really premine 1 million bitcoins? Post by: undeadbitcoiner on January 12, 2014, 12:24:16 AM Block #0
Summary Number Of Transactions 1 Output Total 50 BTC Estimated Transaction Volume 0.00 BTC Transaction Fees 0.00 BTC Height 0 (Main Chain) Timestamp 2009-01-03 18:15:05 Received Time 2009-01-03 18:15:05 Relayed By Unknown Difficulty 1.00 Bits 486604799 Size 0.2783203125 KB Block #1 Summary Number Of Transactions 1 Output Total 50 BTC Estimated Transaction Volume 0 BTC Transaction Fees 0 BTC Height 1 (Main Chain) Timestamp 2009-01-09 02:54:25 Received Time 2009-01-09 02:54:25 Relayed By Unknown Difficulty 1 Bits 486604799 Size 0.2099609375 KB Block #15 Summary Number Of Transactions 1 Output Total 50 BTC Estimated Transaction Volume 0 BTC Transaction Fees 0 BTC Height 15 (Main Chain) Timestamp 2009-01-10 04:45:46 Received Time 2009-01-10 04:45:46 Relayed By Unknown Difficulty 1 Bits 486604799 Size 0.2099609375 KB 2009-01-10 04:45:46 if after software and code relese. At that time, block 1 - 14 were mined. So you could say Satoshi may have premined 14 blocks (700 BTC). :) Remember 700 BTC that time worth nothing. Thank you, so satoshi premined 700 BTC, and it is estimated he owns 1 million BTC which he got through after the code was released when BTC was cheap to buy and easy to mine.block 14: https://blockchain.info/block/0000000080f17a0c5a67f663a9bc9969eb37e81666d9321125f0e293656f8a37 block 15: https://blockchain.info/block/00000000b3322c8c3ef7d2cf6da009a776e6a99ee65ec5a32f3f345712238473 That is actually pretty decent. Anyone else think its worthwhile to know the specific amounts premined for each coin? Today almost every alts are premined for Development but that day Satoshi didnt mined for Developmet he mined to verify his work and within 6 days he lunched software and codes everything to Public and when BTC was public everyone now also can verify it was only 14 block Mined. If it was a test he could have just started a new blockchain with the software release... Title: Re: Which coins are premined? Did satoshi really premine 1 million bitcoins? Post by: taltamir on January 12, 2014, 06:28:01 AM Yes, it's testing rather than premining. Satoshi could've mined around 1000 blocks in that 6 days, but he just mined 14 blocks. Apparently he ran it very sparsely. Only after releasing, he run miner continuously to support the system. Its not a "rather". Its a test AND a premining. Could have prevented any premining by restarting the blockchain from 0 after release and mining then I am not saying its a big deal that 700 coins were premined, but I don't see why you are trying to mince words about it or attacking those who dare call it premining Now, lets move on from satoshi and unto altcoins. Anyone knows if LTC was premined? Title: Re: Which coins are premined? Did satoshi really premine 1 million bitcoins? Post by: Armando on January 12, 2014, 07:03:23 AM Maybe, but what's the point?
Title: Re: Which coins are premined? Did satoshi really premine 1 million bitcoins? Post by: noobyonekenobi on January 12, 2014, 07:17:39 AM Satoshi is Irish right?
Title: Re: Which coins are premined? Did satoshi really premine 1 million bitcoins? Post by: BitThink on January 12, 2014, 10:44:21 AM Yes, it's testing rather than premining. Satoshi could've mined around 1000 blocks in that 6 days, but he just mined 14 blocks. Apparently he ran it very sparsely. Only after releasing, he run miner continuously to support the system. Its not a "rather". Its a test AND a premining. Could have prevented any premining by restarting the blockchain from 0 after release and mining then I am not saying its a big deal that 700 coins were premined, but I don't see why you are trying to mince words about it or attacking those who dare call it premining Now, lets move on from satoshi and unto altcoins. Anyone knows if LTC was premined? In strict sense, yes Satoshi premined 14 blocks, but when I say it's a test rather than 'premining', the meaning of 'premining' is more specific to do something secretly to increase the issuer's wealth. Bitcoin is the first cryptocurrency and has no value at all in that time, so why bother to restart a blockchain at releasing? Apparently, in the first year, Satoshi is the only one do the continuous mining. No one cares about it. It's completely different from the current condition, when everyone releases a coin just for the quick money. For LTC: https://bitcointalk.org/index.php?topic=47417.0 This post clearly stated LTC has premined 150 coins (genesis + 2 first blocks). At that time, the value of cryptocurrency was already well known (at least in this forum), so they treat premining more seriously. Title: Re: Which coins are premined? Did satoshi really premine 1 million bitcoins? Post by: walerikus on December 03, 2019, 02:06:01 PM I think there is no blockchain with absolute zero premine. It's probably true that Satoshi or early developers mined 1 million BTC before it the awareness reached the wider public. 1 mln BTC is around 24% of total supply. Another Blockchain I know which has a really small premine is Digibyte with 0.4% premine which is 104 mln DGB out of 21 Billion.
Title: Re: Which coins are premined? Did satoshi really premine 1 million bitcoins? Post by: walerikus on December 03, 2019, 02:09:15 PM Ethereum tokens for examples are all pre issued by the owner.
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