I took a quick look at this coin, this is what I found:
- dev premined heavily on this. He first premined 2,000,000 coins (first 200 blocks), called it "bounty"
- then insiders heavily mined all the 1000-coin blocks. Said they "should be a day", was finished in just 2-3 hours. This is about another 2,000,000 coins.
- after that (about 2pm 5/15), some limited people may start mining, the 1st 2500 blocks (corresponding to 4 millions coins) are already grabbed by the insiders.
- it was not until 6pm that day, a formal announcement was made about this coin (
https://bitcointalk.org/index.php?topic=206377.0 - there was a pre-announcement thread before, which later becomes the main thread), by that time, 8000+ blocks are gone. This corresponds to an unbelievable 7,000,000 coins.
Guys, does it make any sense to mine a coin like this?? It is complete garbage.
You can check the time stamps in the blockchain broswer yourself!
It's interesting to note that the GLD announcement thread topic 206377 you linked to is no longer available on this forum, which I consider highly suspicious.
But as topic 206376 is May 16, 2013, 04:37:31 AM and topic topic 206378 is May 16, 2013, 04:38:41 AM you can assume topic 206377 is some time between those. Please note my forum time is set to GMT+10 so you will have to calculate your own local time to make sense of it.
Also the GLD block chain explorer has been taken offline
http://gld.block-chain.netIf someone could point me to the source code for a block chain explorer I would like to dig a bit deeper into this pre-mine story.
NVM found an online exporer that works:
http://gld.cryptocoinexplorer.comWe can see from that the following timestamps:
block 0 1368560876 (2013-05-14 19:47:56) first of the 10,000 coin blocks
block 1 1368578936 (2013-05-15 00:48:56)
block 200 1368596205 (2013-05-15 05:36:45) last of the 10,000 coin blocks
block 201 1368596265 (2013-05-15 05:37:45) first of the 1,000 coin blocks
block 2200 1368615283 (2013-05-15 10:54:43) last of the 1,000 coin blocks
block 2201 1368615305 (2013-05-15 10:55:05) first of the 500 coin blocks
You should be able to piece together the story from that info. The topic 206377 thread time approx May 16, 2013, 04:37:31 AM +10 GMT is May 15, 2013, 06:37:31 PM GMT some 18 hours after block 1 was mined, and 23 hours after block 0 was mined.
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Like DGC, BTE, PWC, GLD, WDC, As many as possible! With a name like 'crypto-trade' you should just support as many CryptoCurrencies as you can.
