Only another 7700 bounties and you'll have used up the premined fund.
Obviously that ignores the 2 million (or was it 3 million) set aside to be released 50 at a time for the conduit - ony 4000 or 6000 releases before that's gone too.
What is "50 at a time by a conduit", dude ? |
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I still have no power to conjure extra coins, while trusted nodes allow author to force changes at a whim
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Listen, monitoring is done by people or relatively trivial code usually. No one is going to write a neural net to monitor coinhunter's shit, he doesn't have to invent perfect obfuscation, just one good enough to confuse majority of observers.
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Here let me draw you a diagram:
(Premined Coins) -> (Trust Nodes) -> (Wealth Transfer Mechanism of "even blocks") -> (Coin Hunter's personal wallet) -> (Spent)
Isn't that basically a money laundering diagram? Not so much money laundering as "making your premine fund evade public scrutiny" diagram. Basically, he learned from "how do we oversee Lolcustfund" discussions and made a scheme that would make overseeing his fund much harder. |
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In reality, I think the market does care about how many coins the Great Leader is hiding. Due to the market is made up of people, and people have an issue with trust.
People don't have issue downloading and running binaries from internet strangers EVEN with ABSOLUTELY no legal recourse and NO SOURCE CODES in sight, for the love of everything. "Joe Shmoe premined" is meek in comparison because binaries from internet stranger can fuck one's very personal shit up right now, not fuck up market in some possible future. For you, it seems the market 'trusts' your intentions, at least enough. You've worked well with others, embraced an attack on GG of which helped BTC - and you seemed genuinely glad. The -only- hiccup I'm aware of is your failure to announce your laundry intentions (and premine) with TBX. AFAIK that's the only isolated incident, and is easily written off. The only consistent thing about CH is arrogance. TBH I announced the laundry and the fund, but, regrettably not the size of the fund, an error I later corrected. Your right that the premine itself isn't an issue. If someone wanted to create PremineCoin, launch it with a genisis block of eleventy gillion, and video tape himself burning the USB with the only private keys to the premine - no one cares. It's what is going to be done with the premine, and who are we trusting to carry out those intentions, and what (if any) history do they have of which reasonable character observations can be made inorder to come to a human-based conclusion of 'is this a good investment'. CH loses that battle.
Again, CH has personality issues on record, and people thoughtlessly run his binaries even when he blatantly refused to release source, even after SC launch. In a more "cautious" environment, he would have got exactly zero nodes after refusal to show what the hell is inside his beast. |
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I guess its a nice lesson in inflation. Im guessing people wont be looking for inflatacoins anytime soon will they ?
If what happened to SC2 was "inflation", then it's value would have been below 1 satoshi already. Market doesn't give a fuck about how many coins the Great Leader is hiding. But it does care when a forum mod reverses his judgment and acknowledges a vast attack as "true" Meanwhile, SC2 diff is still all fucked up, with no recovery in sight. |
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Please add "unknown amount h4x-min3d during first day" in SC2
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P.S.:
Perhaps a bit of a touchy subject, so feel free to decline answer, but are you currently a resident of the United States?
Just a bit of less-than-scientific statistics gathering on my part...
Yup, been living in various parts of the US forever. Fascinating. Too bad I'm no sociologist, but still fascinating. Thank you for answering. I'm curious as to why you find this fascinating. Would you care to share? Of those who are upset strongly about by the premine and strongly believe it has market effects even when coins are "dormant", and agreed to tell me their rough geographical whereabouts, more than 50% are from US. Of course, without controls and proper sample size this is low quality data of no particular scientific validity, but still... |
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P.S.:
Perhaps a bit of a touchy subject, so feel free to decline answer, but are you currently a resident of the United States?
Just a bit of less-than-scientific statistics gathering on my part...
Yup, been living in various parts of the US forever. Fascinating. Too bad I'm no sociologist, but still fascinating. Thank you for answering. |
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I forgot to add to the above:
SC2 has huge communication issues.
They keep going on "everything is fine, situation is UNDER CONTROL, nothing to see here" when it is pretty obvious that their diff got horribly borked early on and they have weird "chain hiccups" which have so far received zero public technical comment from anyone.
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You say that, but the shit really didn't start hitting the fan until the 13+ million coin premine was disclosed. That's when SC instantly took a 50% haircut on the exchanges while TBX rallied. At the moment your pig at the through exhibition is less offensive than that of a demonstrated liar, but only $2000 dollars is buying into both combined. Congratulations!
Actually, shit started hitting the fan when BTCEx posted his pwnage thread and the fan really spun up when a forum mod reversed his judgment on validity of BTCEx's claims and acknowledged the attack as real. But I guess we're running into some kind of "subjectivity in sorta-kinda ill-formalized fundamental analysis of exotic neither-money-nor-asset cryptothingie markets" problem at this point  P.S.: Perhaps a bit of a touchy subject, so feel free to decline answer, but are you currently a resident of the United States? Just a bit of less-than-scientific statistics gathering on my part... |
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Meh, Tenebrix is doing well given zero blawg and twitter support, zero prelaunch hype, and a "competitor" that has both. For the love of Cthulhu, what is it about some certain people and pre-mines? it's like some kind of deep affront to you guys, on a level that seems to go beyond economic reasoning. The problems with SC2 are not "premine". The problems are, in no particular order: - weird chicanery happening to the diff
- the "peer to pig" architecture itself
- absolutely insane obfuscation going on in the "pig node" part of things
- blatant electricity theft
- and, perhaps, most of all, the amazing invisible source code.
In fact, given the above, SC2 is probably doing better than it should according to "strong efficient market" kind of reasoning. |
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 The Invisible Hand, flipping off CoinHunter |
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I got no problem w/ concept of CPF.
Make a CPF that doesn't involve a centralized, implicit-trust, digital fiat system and it is a great idea. If the cost of CPF is destroying everything good about crypto-currency then the price is too high.
Like saying:
"Eat dogshit and I will feed this baby".
"I am not eating dog shit."
"So you don't support feeding babies?"
Well, while my fun-d is sorta centralized (AF and coblee found a rather elegant solution to sorta-decentralizing laundry part of the fund) and does involve implicit trust (not so much in me but in enlightened self-interest of mine), it is not fiat. I can't make "even moar tee-bee-exes" at a whim. So in theory, you should like TBX more than SC2  |
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Heh, an even better dreamtech would be a laundry that doesn't need a huge-ass buffer to guarantee transaction history debridement.
It's only dreamtech until it isn't. 5 years ago if I told you the idea of bitcoin in high abstract level it likely would be labeled "dreamtech"  That would be ossom, I'd love to live to see it happen But so far, Huge Premine laundry is the best route known to man  Also, see edit above on SPOFs |
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Heh, an even better dreamtech would be a laundry that doesn't need a huge-ass buffer to guarantee transaction history debridement.
Also, if you don't trust the dev, why do you trust pool-ops and exchange ops to do the right thing? Or for that matter, the peeps who just happen to have enough BTC to crash the market (of whom there are likely many)?
BTC has SPOF-trust shenanigans like everyone else.
The problem with CH is that his strange obfuscated shtick is harder to track than my humble premine (which everyone can track easily) and that his diff adjust fuckup (as well as other fuckups we all know too well about, see the first AF incident) does not bode well for hypotheses about the quality of his other code.
Hiding sources (something I never did and never will do with TBX) is also not very good for trust.
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Guys, try the new Tenebrix-minerd (now with modified scrypt) from my GIT (default branch) It does build (Ubuntu and win tested), but since I have no lintel stuff, my testing is limited Intel users on windows are of especial interest.Please compare performance with http://www.wuala.com/jbw9/pub/Bitcoin/Tenebrix/miner/win/ |
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What I like more is that initially, only a single million was supposed to be premined.
I am also still enamored with the "take 5% of miner's electricity" shtick - for the love of everything good in the world, what's the point of stealing from miners when you ALREADY HAVE A PREMINE IN THE MILLIONS?
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