Not true. how can you have such a mistake that the block rewards for first x blocks are 10k per block? They are simply exlpained in the coin configs defined in main.cpp or main.h file(I am assuming the coin is written in c++ like the litecoin and bitcoin etc). Computers are not humans making mistakes. They follow simple instructions.
Having 470 coins per block, but 10k coins in the starting blocks is THE definition of an instamine.
An error was made in CryptoNoteConfig.h where the tail emission was set to 10,000. This was acknowledged in
Post 132 and subsequently fixed as noted in
Post 137. It was human error that was fixed ASAP, not once has anybody suggested that it was deliberately coded so that "...the block rewards for first x blocks are 10k per block". Except for you.
Maybe a little more reading and a little less calling people liars for explaining demonstrable facts to you might be in order.
Please explain in your own words how this “fix” actually resolved the issue. Let’s talk in facts from here on out instead of appealing to emotion and using personal attacks.
Here are the facts:
1. The block reward was multiplied by 10,000 “accidentally”.
2. The solution to this “accident” was to adjust the block reward down with a hard fork.
3. Everyone who mines this coin now is wasting their time because the devs who mined the majority of all early blocks have a 10,000x lead on everyone else and own 90% of coins.
4. The devs are claiming this is not a pre-mine or instamine, even though this is the exact definition of an instamine.
5. The proper “solution” would have been to change nothing. Imagine if the hard-fork to reduce the block reward had never happened. The only negative effect of multiplying the block reward is an increase in total supply of coins. Which as we know from IOTA and DOGE does not matter. You could have a coin with 20 trillion coins rewarded per block, it doesn’t matter, because people will simply move the decimal place.
In other words, the “solution” chosen by the dev team reduced everyone else’s block reward while keeping theirs the same. The correct solution would have been to do nothing.
Why did the devs choose to give themselves 16 million coins as the solution to this “mishap”?
Please explain.
The devs didn’t give themselves 16 million coins
The mining was fair and free to all launch
I myself mined 50k
I know some guys who mined 500k
If you guys were quick and mined on day one you would have got lots of coins as well
If it’s a big problem sell you coins when comes on exchange
Many people will happily buy them off you once project gets exposure
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