New website again says no premine.

If I am misunderstanding something then please explain it to me.

The first 900 or so coins went to one address. The announcement was about one hour after the first coin was mined. If that is not a premine then just explain to me how it is not a premine.

The Dev has spent hundreds of hours or more on the coin. He needs to make some money, I understand that. But if the coin is marketed this way at any moment a person could notice the first 900 coins and post exactly what I am posting.

Is the point here to trick people into buying the coins then they dump them at a lower price when they see the premine?

Please explain anything I might be portraying wrong.

Excellent coin with a lot of possibilities, but there has to be a bare minimum of transparency.

The first 900 coins were mined by one address. It was premined.

The Dev used a lot of it promoting the coin. He should account for those btg exactly, in a public way. I don't have a whole lot of bitgem left but I'd donate some toward offsetting the premine, whatever is not accounted for.

I'm fine with either direction. Fix the premine issue as described above, or deep six the coin. Either way.

If the Dev can produce addresses and explanations for half the coins, I'll donate 50 btg to the faucet and maybe others will donate the rest. I've pm'd with the Dev and he is obviously a decent fellow and a lot of people still support this project, but the first 900 coins are a cloud that has to be cleared first.

BTW, the other explorer is working now too http://bitgem.alfter.us:2750/

Btg could easily be driven to a few hundred k marketcap if it were cleaned up. But it will be a temporary pump unless the coin is fully transparent.

The second explorer is down again now, which makes it impossible for anyone to view the coins that were mined in the beginning.
- - - -


I bought quite a few of these when the block explorers were down, trusting the people who said it was not premined. I still have most of them. It looks like a bunch of us are bagholders and it is sort of a game to try to draw new people in so the bagholders can dump the coins on them.

This could have been an excellent coin if not for the crookedness and stupidities. New people should beware. Do not buy until there is a working explorer that will display the address that mined the first 930 coins and that seeming premine has been accounted for or explained. As it is the coin is being marketed dishonestly.

Be wary of people who are aware of what is going on and try to hype the coin.

This has to be clarified publicly before it is a serious coin. The wallet is very cool and by itself the coin looks outstanding to a pretty regular person like me, but the launch is not clear.

A while ago I tried the block explorers and could not find one that worked. Now there are two that work. When I look at the first transaction on the bitgem explorer it goes to an address that "cannot be displayed because there are too many records". On the other explorer that address is visible and seems to have mined the first 310 blocks. The coin specifically says no premine in several places so I went with that. However it appears that address mined the coin for one hour before the announcement, and got 930 coins, about 3% of the coins that exist now. Is that not a premine? It either is or it isn't.

If it is then something has to be done about those coins. Others might be willing to deal with that, I'm not.

It seems to me that if a certain number of coins were used for certain things then those coins can be accounted for, x coins went to pay for x pool, here is the transaction, etc. I'm willing to chip in some to pay off the premine, maybe donate it somewhere, as long as the accounting is honest and straightforward.

I understand you, Mineral, worked a lot on the coin and expect some money from it but if things aren't above the table most people, including me, aren't interested. People should be paid for their work but skimming isn't a good way.

If someone explains how I might be wrong I'll be happy to be corrected. Otherwise I'll wait for an accounting or a better explanation. I'm really not interested in being one of a group of people trying to push a con.

In other words for transactions the coin is not of much use right now but that would change if the difficulty were stable?

An early fair copy of bitcoin has an obvious appeal if it is a workable coin.

The website needs to be updated a little. Coinex.PW seems to be out of business, likewise some of the other links. BTE looks like the best buy amongst the unpremined coins at https://bitcointalk.org/index.php?topic=134179.0

From what I can see this looks like a good coin. At this point though my first reaction when I see a good coin is skepticism. I bought a few of them on Cryptsy. Can you explain why only one block per day are mined according to the block explorer?

Is this coin a fair launch or not? I am getting mixed information. If it is not, or there are serious questions, we need to clean it up. It's an excellent coin and it shouldn't be trashed over something that can be fixed.

From the explorer it looks like about 1 block is mined per day. Is that right? Also was there any premine or similar at launch?

I don't think btg is on bittrex, only cryptsy and maybe some small exchanges. Bittrex has a 'pay to play' system where they take a bribe to list a coin but some coins they will list without a bribe. Btg is an older established coin that seems to be reviving so maybe they will add it if a few people request.

As for pumping, the price bumps up from time to time a little then drops back. It probably won't really takeoff until the whole crypto market starts moving. This coin needs to be kept clean of the bullshit hype and pumping and dumping. Eventually it will rise on substance rather than hot air.

It is such an original coin, compared to all the other earlier coins, that when the market starts to consolidate and smaller new coins disappear investors will be going to established coins with creative features. The price probably won't rise too much for a while but when it finally enters the market you will know.



That explorer isn't listed on the original post. Hopefully Mineral reads that and updates it. If I knew how to do that kind of stuff I would make a block explorer but the only part that I know how to make is the error page.

I would like to know also.

Any ideas?

Just because he does not make a lot of noise doesn't mean he is not active. When an update is needed he does it. When there is a problem he fixes it. The only thing he doesn't do is hype.

Yesterday he was at the beach, about to go over to full moon Baba's restaurant when a kid yelled over "hey, there is someone whining about your website".

So what did he do?

He fixed the website, in case you didn't notice.

This is a no premine, no bullshit coin. He didn't get any money to build it and he didn't do any of the trading scams some other coins did.

It's a coin with a cool function that has the potential to become a fad if crypto becomes mainstream.

I plan to make suggestions from time to time about the website, which I think is still in pretty bad shape. Also plan to whine about the block explorer ... oh wait, he fixed that also.

He is working for free as Dev on what is potentially one of the most undervalued coins in the market. Instead of complaining that he is not doing enough for free why not at least give him some suggestions of things to do?


It's one of the few old coins that actually does have a cool feature. When all the other coins were busy making simple clones or tweaking algos bitgem created a trading coin that has a lot of potential adaptations. Right now it is mired in mud  like all the other coins, waiting for crypto to catch on.

But if you can think of a feature then suggest it. Maybe the dev will add it, maybe he won't. Maybe adding text messages to transactions, like florincoin and some others, would be useful. Adding anonymity features to a coin make it more popular, and would increase the value but that is getting overplayed by a lot of coins.

If a person wants to set up a giveaway on twitter or one of the other social sites I'll chip in a couple dozen btg.

It is the zero hype coin. Even though it was one of the most original of the early coins it has no hype.

1) One of the coolest wallets. Even now few other coins have added extra tricks like creating new kinds of coins or gems.
2) Dev disappears but always comes back. He is sitting on the beach in Puri sipping Margueritas and every now and then he checks and sees if an update is needed. Most coins from that era the original devs are long gone.
3) Market cap is about USD 5k. There is no doubt it is a better investment at this price than almost any other coin.

But

1) Website has rough English and some toxic words like 'forge'.
2) No block explorer as far as I know.

Small amounts of bitgem keep trickling out at current prices so a person can buy slowly. There is not enough depth to buy very much though. About 4 bitcoin would buy the entire sell side of cryptsy. A waiting game right now.

The first few lines of the website:

"Bitgem provides a modular wallet enabling colored gems. Colored gems embody a built-in wallet colored coins, providing sending gems feature, and applying an automatic conversion between BTG and gems {DMD, RBY, SPH, EMD}.
BTG can be forged into Diamonds, Rubys, Sapphires or Emeralds, or abbrev. DMD, RBY, SPR, EMD. There are two processes implied:"

Does the following sound better? Or could someone else improve it?

Bitgem is one of the early cryptocurrencies, founded in May 2013. Only about 30,000 btg exist. While most coins are simple clones, Bitgem was designed to add an extra function. The Bitgem wallet can generate four different types of trading coin or gem, Diamonds dmd, Rubies rbs, Saphires spr and Emeralds emd.

As an American this sounds better to me.

Also there doesn't seem to be a working explorer. I'll pitch in a small amount if someone starts a bounty for one.

Sometime in the next few weeks I will try to send you some suggestions for improving the English on the website.

But you must make the website mobile friendly.

A lot of users use small operating systems and screens.

One of the most undervalued coins out there in my opinion.