Bitcoin Forum

Thanks for your vote, opinion.

All depends.  If the dev pre-mines a small portion, and is seen actively using it to promote the coin, ect ect.  Then sure.  In the case of Stablecoin's pre-mine for the coin washing process he is working on sure. 

But if I see out of the gate the dev disappears, or is keeping that pre-mine to himself, then I drop it quickly.  In Stablecoin's case, I dropped a week or so after the dev went AWOL.  It seems he has come back, but I haven't gone back there yet.  Maybe when all the dust is settled over there again.


And speaking of pre-mines.  In the case of Marinecoin, where 97.2% is premined, and the remaining 2.8% is mined at equal rate over next 1000 years, so that the dev can purchase a $15 billion dollar city, and rent out yachts to it's investors, I have to give a big NO

In my opinion NXT is a completely scam, same with Quark.

what's your definition of pre-mine exactly? IPO is similar to pre-mine. ripple is "pre-mined"/infinitely inflatable. I think alt-coins asking for funding are worse than pre-mine, because skewing the market by bullying.

simply answer because it works for the founders, as long as "community" (whatever that is), comes up with mechanism to show them the opposite. as I said IPO is worse than pre-mine as its moving a lot of BTC right away and there is no market price. this should really stopped or heavily restricted. people asking for xxx million dollars from the community will put a heavy burden on it, as it gives alt-coins a bad name.

Quark is not traded at a stable 20M$, but the amount going over the counter is small. which is a lot different than raising 20M$ in advance, as people pay in advance without a market price. I don't know how much mastercoin got and how that is going. there is no way to track it. marketprice went down 50% since IPO, but at least there is a market.

You cannot pre-mine something that you cannot mine. Sorry, your opinion is flawed.
You should understand the concept of Proof-of-Stake before talking about it.

Unfortunately, the brain is not used any more on bitcointalk these days.

same feeling here, just add ripple and all the new NXT-Clones

Pre-mine in straightforward sense; coins are already mined and the only way to get it is buying it from original miners (or whatever the name you want to call it). But your analogy regards IPO was a good one... Its also reminds me that I believe it is fair to reward the early investors/adopters, but also reminds me that some IPO contracts can tell that early adopters must to sell (lets say, 20% of their stack ) after certain period of the time.. like stock pre-schedule sell off contracts ...  the analogy is like patents contracts where you hold a patent for certain period of time then it is available to public domain ...

You probably misunderstood what I was saying or I wasn't very clear. there are many different models. some are hybrid between PoS and PoW, some pure PoS, etc. Whatever you think about Quark and others, at least there is supply and demand on a market. as long as there is a market people can buy & sell at roughly fair prices (the current view of the value). although there are some issues like insider trading and a couple of other distortion tactics.

What I'm saying is that there shouldn't be large fundraisers. because that only leads to creation of hype and launch at an IPO distorting the price.

I invested my money in mining equipment so I'm all for PoW. The NXT and others where you need to buy in do not interest me. These are elitist coins and only people with money can come out winning. Kinda like what we already have with fiat.

You don't want to pay for coins so you bought mining equipment ?

Oh wait...

True you rigth, nowdays you must to spend money on custom hardware; but in the begin wasn't that way... people supposed to use recourses they have already available like their cpu cycles... eg.: When I joined for the first time to a distributed computing projects ( http://en.wikipedia.org/wiki/List_of_distributed_computing_projects ) was because my computer CPU was 90% of the time idle...

What was supposed to be open and democratic turned into the opposite.

In PoW, only the rich can afford the hardware to make profit.

I wouldn't trust any pre-mined coins. They go against the spirit of cryptocoins in my opinion.

ripple, nxt completely scam

Thank you for your interesting & educated opinion. You definitely got a point. The average level of education is rising on bitcointalk.



Explain the spirit of cryptocoins please.

if it would be possible to short Alt-Coins you could all make money off your opinions, long and short. The market will decide. just focus on making the market work better.

for whatever reason some people valued ripple at 3B$, perhaps because silicon valley venture backing.

No you cannot make any profit with a CPU nor a GPU with Bitcoin mining because of energy efficiency. Sorry.



No. Ripple is not a crypto-currency, it is a centralised IOU exchange. It has nothing to do here.

I do see a potential in Ripple... honestly as an exchange.. although I would suggest to their develop team to do a better market campaign to make it clear for general public; or as Albert Einstein used to say “If you can't explain it to a six year old, you don't understand it yourself.” ... The reason I did make this pool is just because I was willing to confirm my findings while searching on the internet about alt coins..


and the 4 the special case "Ripple" my hypotheses is that Ripple still not seen by the crowd as IOU Exchange

Eg.:
Introducing Ripple, a Bitcoin Copycat
http://www.businessweek.com/articles/2013-04-11/introducing-ripple-a-bitcoin-copycat

Is Ripple XRP The Next Bitcoin?
http://www.youtube.com/watch?v=pMng_I_gtK8

and so on ...

I am not saying Ripple is not a great centralized IOU exchange but as you pointed out, we cannot expect people to make a difference between an exchange and a crypto-currency neither between PoW and PoS.

Anyway, the next big step are the cypto-platforms supporting decentralized p2p exchange and mixing.

At this point I don't expect anyone to follow what I am saying but maybe you would.

Ripple is a currency as well - at bitstamp 1 XRP = 49.92$. its kind of like a fiat currency, in that is an IOU. I don't see much use for it.

your posts would have more weight if you would remove your advertised sig.

It makes no sense why Quark is even in this conversation.

Quark was NOT pre-mined at all.

Announcement Date: 2013-07-21
First Block: 2013-07-21

Source: http://bitinfocharts.com/quarkcoin/
https://bitcointalk.org/index.php?topic=260031.0

You should probably check out the video.
https://i.imgur.com/UVSmcPA.png (http://youtu.be/vb8si58DW9Y)

I see not much good in NXT (watched their promo video and thought it weakminded, and seem mostly disliked by the smarter people here). Ripple however I am fascinated with and think I am going to start using it as an application. I own no XRP as of now and no intelligent idea on the price/value...there is a lot of it, and if its price becomes unstable as bitcoins it will make the application useless (to me at least) so there is that.

why are these videos always the same? some ukulele in the background and a guy selling a CC as it was a bag of soap.

Haha. Ukuleles are so in right now. There's been extensive research done on this and it's the sound most people trust.

It might not've been premined but it was essentially instamined.

What the hell is instamined?

...

Just woke up while ago ... yesterday before sleep I was doing some MANET simulations on OPNET just for fun ... today I had crazy idea, I mean very crazy idea came to my mind .. what if "change the mining paradigm"  and instead traditional mining it could be something like "time spend logged to bitcoin-radio network" as a reward variable.. but the network would not be the traditional internet, instead could be a infrastructure less type such as "A mobile ad hoc network" .. people could be reward for maintain a free network. Its also reminds how guys like Van Jacobson get pissed when face the reality that we already get wireless nodes and ambiguous connections everywhere but we just don't relay. We insist to pay a provider to get connected...  

Anyways going back to sleep lite more.. after it going to read some papers like

Relay-by-Smartphone
http://www.it.ecei.tohoku.ac.jp/innovation/en-index.html

video
http://www.youtube.com/watch?v=dVC4RLWMBng

That look like the idea of 100% Proof-of-Stake :
End of the mining. You cannot talk about mining/pre-mining/hardware-miner, there is no such things.
Instead, every node on the network contribute equally to the security. It doesn't matter your hardware, any computer can be a node even a Raspberry Pi or maybe a phone. Because there is no incentive for centralization (contrary to Bitcoin and clones with mining pool), the network is truly decentralized. No 51% attack possible. You get rewarded proportionally to your coin-stake so everyone get the same % of return on interest.
The network is infinitely more energy sufficient and secure.

The only problem is that is goes against the "mining paradigm" and a lot of people cannot handle the change.

Where most or a lot of the mining is done very quickly after launch.

only premined coins i trust are transparent about their premine.

Preminecoin is a personal favorite  :D