Bitcoin Forum

If I hire a developer to create a fork of Bitcoin with a small premine. How do I make sure I get my premine and that the developer hasn't ripped me off. Is there a way to know for sure that I have received my premine? What would be the steps when launching the network to verify the developer hasn't done anything 'tricky'? Thanks!

Lol you can't trust someone who you didn't know about him. I think what you should do to pay him with a lot of money or if you wanna create a scam fork coin and just make it for yourself.
You can be deceived anytime as you are not having knowledge to know where is your developer putting the backdoor.
My advice and just forget to create a fork coin caused by people in here very well know the fork coin as scam coin.

You must first read about the review of the person, do not cooperate with new or inexperienced developers, it is not a guarantee that new people can fool you or vice versa experienced will not cheat but with the experience he has there will be people who will give review of how it works.
But isn't it better if you make the project yourself, meaning that if you don't have such knowledge then learn first

If you are not a developer yourself, you cant find if your altcoin developer is cheating you. So it is better to employ an experienced and good developer who has a good reputation for himself in the community. Reputed developers most probably wouldn't do anything tricky or try to scam you as it will damage their reputation.

Learn how to create from scratch instead of looking for a developer to get the job done for you, I'm sure you will be put in the dark if you let another person build a project for you and it's all about money isn't it? Get ready to be cheated

Also hired only a person you really know personally or know where this persons can be find in case there will be a problem about the coins he forked.

Hiring a people blindly will be your longterm problem if that persons cant really trust it will damage the coin reputation and your own reputation also.

For the sake of money, people will always do it in a way and be able to make people do anything. I think it's about trust and if you want to make a new project from fork bitcoin, I think at least we understand about the blockchain and its programming

This is simple. Work with him personally since you hired him with pay. Part of your job as the owner to monitor every moves and develpment he has done. Of course this include finding a legit developer. This is important as you need to secure the project details especially you are targeting a fork of bitcoin. My advise, dont pursue forks but create an altcoin project which is more easy to handle. Yeah altcoins are mostly shit but depends on the project you are gonna create.

I am not sure about bitcoin fork, but if you create an ERC-20 token on ETH blockchain, it is possible to check total supply of the coin and the list of addresses holding those coins.
Read the below link,

https://ethereum.stackexchange.com/questions/13776/how-do-you-track-total-supply-of-a-currency-smart-contract-on-the-ethereum-blo

In bitcoin blockchain, it is not possible right at this moment, but I believe some coder may be able to help you with this.

I'm not a miner but as far as I know it can be checked how much blocks were mined and the number of coins per block, I guess you can do all the math in that and expect how much has to be sent to your account. But you really can't help becoming suspicious to anyone you hired because when it comes to money its going to break bonds.

Become a developer yourself but do not try to hire one because you can easily be cheated someway or the other, you can even become a better developer if you are ready to learn, it's not that hard, you can start with platforms that got everything ready in one, for example it's easier with ERC20 smart contract, just do some research

Did you watched it properly? it's not about miner but it's premined coin. that's differenet between miner and pre-mined coin.

It's about how to prevent the developer that we didn't know about him to create a backdoor or putting the vulnerable code and it's not related to the block on the blockchain.

If you are not a developer, don't even try!

Why because you will end up with a worthless coin, because the chain will have bugs, will need updates, wallet upgrades.

 Even he/she won't trick you, who will make all this after you launch the coin?

Exactly! The work doesn't stop after creating the coin. There are so much things to do after that. And if you can't handle such job, better forget it. There are a lot of worthless forked coins already so please don't add another one. The likelihood of being cheated is high because it seemed that you don't know about this job. Better invest on quality projects rather than create a crap coin.

Just report it here in the scam section but before you hire someone be sure has a service thread here first, developers wants reputation intact because if they will do that they will lose their business, and to make the deal good and fair get an escrow it's fair for both of you, just hire a reputable developer and you are good to go.

I think it's still a big risk too if you pay people for the fork coins that you want, and that online. because the monitoring will be very minimal and prone to fraud because you will never know the real situation. my advice if you want to do coin development or fork, it's better to gather a real team that can gather directly, so you can directly monitor the activities of the team directly.

What? This is a stupid plan all together, sorry to say but I think its all safer if you get things together yourself, if you are so interested in your own Premine box why can't you just build your own project? It's safer this way I think

Agree, instead of making fork coins from Bitcoin, it's better to make a new project with a clear use case for business. Premine coins tend to make investors less trustworthy and without premine coins that make Bitcoin trusted by many investors because no one dominates coin ownership

It is just about hiring the person you personally know to be worth trusting. If you don't know the person thoroughly, then the risk of you getting ripped off is always there. So it is either you know the person on a personal level or you hire someone who has got a reputation worth keeping that ending up betraying you would burn all his entire reputation and potential business opportunities in the future.

Nope. I read it.

When you find out thru the specs that what is sent to you aren't all that's premined then that dev can't be trusted. Its too late when you find out however but if hiring these devs from upwork meant you know their profiles, they might think twice for there are ratings in the freelance site.

It's always risky to hire a stranger. There are companies on the market that have been helping in mining and investing in cryptocurrencies for years. They usually get % of their income ... read about it

When there was someone issuing the smartcontract and he can also try to make how much pre mined coin that will be sent for the creator of the contract it's not about mining altcoin
What he needs to learn more about programming and it looks like you must read what he was writing before for twice.

There is really not a "sure" way to know beforehand, they will do it and they will give it to you and that is how you learn if they cheated you or not. Technically of course, otherwise just get in the same room with them, watch them work and basically be on top of them everyday to make sure they do not cheat you from anything.

However, I have always said that incorporate if you want to do big business stuff. If you incorporate you will have the rights to get all the information you need from the people you work with, so if they cheat you or do something you can literally call the cops and start a legal action with ALL their info as well, in that case they will not want to scam you because if they do everyone will be looking for them and they will go to jail, nobody would want to do that. So if you want to make sure, become a company and hire a lawyer.

Get a reputable developer with good feedback and a good ranking in the community and everything will be fine, I don't recommend for people to launch their project or coin without knowing anything about coding, it's risky especially if it happens to be a smart contract, you might regret later.

As long as there's money involve in anything, people are likely cheat. That's man's nature. You should not or cannot trust anyone as of these days. I think it would be better if you learn to be a developer yourself, but if you really can't. Hire someone you know personally, someone reputable and a known one, if possible, someone you know personally, so when the day comes that he/she really cheated on you, you can look for him/her and let that person pay for what they've done.

I think that will be simple, you hire the developer and let them process the fork and the premine in premine wallet.
Later, you just need to send the premine coin from the premine wallet to your own wallet (you should create your own wallet without the knowledge of your developer), with this way, the premine coin will stay safe in your own wallet.

In any business or deal , trust matters alot. I won't advice you to deal with someone you can't trust . Another thing is don't do things you don't have some knowledge about it. Try to understand developing process , and then you will be able to know the ways that any developer can scam you either trusted or not.

She hasn't hired someone yet so I guess hiring will take her to trustworthy freelance website like upwork. The freelancers on the platform are more concerned about their profile having no unsatisfied clients for it's their way to get more job contracts. I'msure those freelancers wouldn't risk the reputation he built for years just for the premined coins from the forked coins.

The problem is the developer has the right to change the rules or requirements anytime and mostly the team changed it at the middle or end of the campaign and how we can deal with it while the new rules was putting the hunters into a lot of disadvantages? This is the difficult thing to get the solution.

Cooperate with reputable people beforehand, Or you should seek acquaintances to cooperate If this is not possible, the last resort is to use escrow. I believe you will get the job result and not be fooled by anyone

I think before you take any action with the said developer, you need to verify him first, try and know as much as you can about him this will help you know when something is going wrong and have a free mind too. Also, to be on the safer side, you can get recommendations from those who already are in the business; I believe they will suggest the best person so that their reputation won't be questioned in the near future. But again, how would know if the thing is done correctly or the way you want? Therefore it's wise having a little knowledge of what you are venturing into.

You guarantee your premine by

1, using the services of trusted escrows
2, concluding the forks with trusted personnels
3, physical deals with known personnels

Yeah agree. But, there are easy precaution methods are available to deal safely like even we trust them, there will be no need to blindly believe anyone. It means you can trust your devs but that does not mean that you do not need to cross check them. It should be like, if you trust then start working with them and still you must follow all the cross-checking process.

I guess, explorer will be more than enough for anyone these days to make sure nothing happens in hidden manner. But, forking bitcoin could be different case. Devs might load their won wallet with lots of coins and then may claim them like anyone else. So, forking must be a different case than usual blockchain developments.

Escrow is definitely a good choice. Even if you have a good relationship with them, you still need to be really careful if it is a large amount of money. Do not trust anyone in this market because they will easily change themselves for some money

yeah, because of that there are some trusted people who can be used as escrow here, for example, yahoo. however, escrow is indeed the best way so far that I think of for bounty hunters. but, most new projects don't do that.

The simple fact is you shouldn't waste your time with meaningless altcoins.

Whenever there is a premine there is a good chance that the developer is just looking to dump his batch on the first exchange he gets the change to, right after all the mindless plebs have pumped up the price.

Why both wasting your time when the risk of this is more than 50%?

That was a trust issue and it really hard when you are dealing with someone who has their own interest and that was to scam you. In this kind of market, you can't just simply give your trust to anyone especially when you are talking about money or investment. Because not sure if that person will give you back. If you can make it, then better to do job rather than relying to others. That's the only way to avoid being cheated and lost.

I think there are many ways to beat developers who commit fraud even though the potential for success is very small but it doesn't hurt to try one of them by reading from various articles that have a way to avoid scams to avoid cheating and avoid fake projects the second way and in my opinion this is very important, doing research and conducting investigations to ensure that the developers are very good and trusted.

First, the idea of forking bitcoin is bad, why fork? we already have bitcoin, and if you are looking for forks why not support the existing ones? Like BCH, Litecoin, etc. If you want to create another coin just to create free money and you don't even have knowledge of how it is created, you already messed up. Please we have already enough sh*tcoins on the market don't attempt to add one, we need crypto adoption in order for that to happen support and use the existing coins like BTC, ETH.

First you have to read about that person's evaluation, not cooperating with new or inexperienced developers, you can't trust someone you don't know about him. So Work with him personally since you hired him with pay. Part of your job as an owner to track every move and find out what he did. Of course this includes finding a legal developer.

That's not an easy task to believe with someone who you didn't know his reputation even if you were using the trusted service and you can be deceived anytime. I can't sure if he can do that easily and the only best thing to learn more about that and at least we can do our personal audit or try to use the audit service by some neutral developers.

You can start interviewing him and put him to prove that he is a real altcoin developer . Also if you are not 100% sure about his skills I recommend you to work with him in milestones on a escrow platform . That's the best way

That's a problem if you do not know how to code, you will need to hire another coder to check another coder's work, I guess the easiest way to do is to only hire a developer with a good reputation,  developers and coders are living and sustaining their business with feedbacks, so go for developers with good feedbacks.

^ It will be a trust issue with a developer better to hire someone whom you know already or you can really trust that will not deceive you and put everything you have at risk. You probably not be a developer but you may still learn how by doing some researches or you may also undergo training in a legit training institution that will not give you any false information or will simply trick you for their own goods. If there is a portfolio of their previous work much better.