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Title: Stealth Premine was ByteCoin done by early huge block payouts Post by: jubalix on April 05, 2013, 09:43:44 AM How much premine was in the SpamCoin I mean ByteCoin
anyone know? EDIT it seems the premine was kinda "hidden".... what I heard was that reward for first 1000 blocks was 5000, then 500, then settleing down to 50... no one except the developers got in on the early early coins i believe... but i'm going off memory here and don't have time to find posts atm, but it in the Bytecoin main thread AND there was the time to react to premine Title: Re: How much premine was in the SpamCoin I mean ByteCoin Post by: drawingthesun on April 05, 2013, 09:50:27 AM I don't think there was any premine.
Title: Re: How much premine was in the SpamCoin I mean ByteCoin Post by: shinkicker on April 05, 2013, 09:56:31 AM No premine, but its no more then an exact copy of bitcoin. The only changes were renaming 'bitcoin' to 'bytecoin'.
It was a coin born out of resentment over someone being banned from the forum, hardly a good start. Title: Re: How much premine was in the SpamCoin I mean ByteCoin Post by: drawingthesun on April 05, 2013, 10:00:11 AM No premine, but its no more then an exact copy of bitcoin. The only changes were renaming 'bitcoin' to 'bytecoin'. It was a coin born out of resentment over someone being banned from the forum, hardly a good start. Wasn't Maria banned after the bytecoin announcement? Title: Re: How much premine was in the SpamCoin I mean ByteCoin Post by: FuzzyBear on April 05, 2013, 10:00:29 AM the premine was kinda "hidden"....
what I heard was that reward for first 1000 blocks was 5000, then 500, then settleing down to 50... no one except the developers got in on the early early coins i believe... but i'm going off memory here and don't have time to find posts atm, but it in the Bytecoin main thread Title: Re: How much premine was in the SpamCoin I mean ByteCoin Post by: drawingthesun on April 05, 2013, 10:06:19 AM the premine was kinda "hidden".... what I heard was that reward for first 1000 blocks was 5000, then 500, then settleing down to 50... no one except the developers got in on the early early coins i believe... but i'm going off memory here and don't have time to find posts atm, but it in the Bytecoin main thread Really? That is a premine almost isn't? Hmm doesn't sound good at all. I am correct in assuming Bitcoin did not have a "unjust" reward system at the beginning? Title: Re: How much premine was in the SpamCoin I mean ByteCoin Post by: FuzzyBear on April 05, 2013, 10:20:13 AM ok i may have been getting confused, or it may have been the same but there was this i found re mincoin showing "premine"
https://bitcointalk.org/index.php?topic=165397.msg1747004#msg1747004 authors got 10% of all money supply ever to be created... reward dropped to 2 coins per block now... Title: Re: How much premine was in the SpamCoin I mean ByteCoin Post by: JohnDorien on April 05, 2013, 10:22:44 AM ok i may have been getting confused, or it may have been the same but there was this i found re mincoin showing "premine" https://bitcointalk.org/index.php?topic=165397.msg1727737#msg1727737 U were confused. Mincoin had that beginners "Bonus" = massive premining (and is already dead) Bytecoin started off at 0 (or at least close to) Title: Re: How much premine was in the SpamCoin I mean ByteCoin Post by: aorith on April 05, 2013, 10:34:22 AM Unfortunately, there was not a single cryptocoin which wasn't premined or contributed to miners much less than developers or early adopters. All the coins we have now are pure shit. I'm still waiting for a fair cryptocoin, announced months in advance, starting difficulty 10k or more, up to date with technology. 1+ Title: Re: How much premine was in the SpamCoin I mean ByteCoin Post by: Buffer Overflow on April 05, 2013, 10:47:10 AM the premine was kinda "hidden".... what I heard was that reward for first 1000 blocks was 5000, then 500, then settleing down to 50... no one except the developers got in on the early early coins i believe... but i'm going off memory here and don't have time to find posts atm, but it in the Bytecoin main thread Who told you that rubbish? Just check the Bytecoin blockchain to prove this incorrect. Title: Re: How much premine was in the SpamCoin I mean ByteCoin Post by: brie on April 05, 2013, 10:54:44 AM No premine No premine but network started with difficulty 1 and was announced to public few hours later. Check block explorer to see how many coins were made in those few hours. There was premine, period. ok i may have been getting confused, or it may have been the same but there was this i found re mincoin showing "premine" https://bitcointalk.org/index.php?topic=165397.msg1747004#msg1747004 authors got 10% of all money supply ever to be created... reward dropped to 2 coins per block now... Unfortunately, there was not a single cryptocoin which wasn't premined or contributed to miners much less than developers or early adopters. All the coins we have now are pure shit. I'm still waiting for a fair cryptocoin, announced months in advance, starting difficulty 10k or more, up to date with technology. When I started mining Bytecoins there were fewer than 200 blocks mined, and I'm sure that most of those were found by other miners like me who simply managed to download and setup their clients a bit faster than the rest of the crowd. There was no premine, so if you missed out on difficulty 1 you have no one to blame but yourself. Title: Re: How much premine was in the SpamCoin I mean ByteCoin Post by: human on April 05, 2013, 11:34:22 AM this copycat coin is not worth spending any time on it. next is kilobitcoin? not very serious...
Title: Re: How much premine was in the SpamCoin I mean ByteCoin Post by: 🏰 TradeFortress 🏰 on April 05, 2013, 11:36:25 AM the premine was kinda "hidden".... That's mincoin.what I heard was that reward for first 1000 blocks was 5000, then 500, then settleing down to 50... no one except the developers got in on the early early coins i believe... but i'm going off memory here and don't have time to find posts atm, but it in the Bytecoin main thread -- Bytecoin had discrete premine IIRC. Title: Re: How much premine was in the SpamCoin I mean ByteCoin Post by: btbrae on April 05, 2013, 11:41:45 AM The first few people to start mining must have gotten upto 50,000 each and are holding on to em. Not a premine, but it's not exactly good distribution either. It presents just the same dangers to the currency.
Not everybody has all day to click refresh on the crypto board or have a nudge from someone. There was something like a 12-24 hour window and that was that. Title: Re: How much premine was in the SpamCoin I mean ByteCoin Post by: 🏰 TradeFortress 🏰 on April 05, 2013, 11:43:00 AM The first few people to start mining must have gotten upto 50,000 each and are holding on to em. Not a premine, but it's not exactly good distribution either. It presents just the same dangers to the currency. It was a premine, Bryan Mills "Maria2.0" started mining hours before announcing.Not everybody has all day to click refresh on the crypto board or have a nudge from someone. There was something like a 12-24 hour window and that was that. Title: Re: How much premine was in the SpamCoin I mean ByteCoin Post by: brie on April 05, 2013, 11:54:40 AM The first few people to start mining must have gotten upto 50,000 each and are holding on to em. Not a premine, but it's not exactly good distribution either. It presents just the same dangers to the currency. It was a premine, Bryan Mills "Maria2.0" started mining hours before announcing.Not everybody has all day to click refresh on the crypto board or have a nudge from someone. There was something like a 12-24 hour window and that was that. If that's true, he only managed to score lessthan 10,000 BTE during those hours of premining. I doubt most of the first 10,000 coins were even part of a premine, since I was a couple hours late to the mining party, yet my first block was only the 185th to be found. |