Just in case anyone is tempted by the recent Orbitcoin thread which is self-moderated, hence the reason for this separate thread, as otherwise this would probably be deleted....
1 million coins out of a total ever-to-be-mined of 3.7 million, in other words 27% of all coins ever to be produced, were instamined in the first 6 minutes of mining.
Proof:
http://atlas.phoenixcoin.org:1080/chain/Orbitcoin?count=100&hi=20These originally ended up at the Orbitcoin "foundation" address" of odYLBLUg6xtR8jvKus3NyzhFERwKTtTCLi
http://atlas.phoenixcoin.org:1080/address/odYLBLUg6xtR8jvKus3NyzhFERwKTtTCLiSupposedly, according to
https://www.facebook.com/orbitcoin/posts/201834529981371 "1 million sit's in the foundation wallet from the start and can be seen here (odYLBLUg6xtR8jvKus3NyzhFERwKTtTCLi)"
"the foundation has a goal, to spread out the coins among new crypto users on scientific forums, and open source science projects, well also supporting the Orbitcoin exchange price for miners."
Between July 2013 and December 2013 the foundation address balance reduce from 1 million orbitcoin to just 51,275.45 orbitcoin. It seems to have been dispersed to other addresses, thus making the "foundation address" redundant. Where did it go I wonder, and why wasn't it kept in the foundation address for transparency?
See below for what has happens with funds. I don't see anything wrong with this. Pre-mine ORB was used to help sustain and promote.
https://cryptocointalk.com/topic/40243-orbitcoin-advancement-fund/ghostlander, on 03 Aug 2015 - 3:43 PM, said:
I'm going to use this thread for accounting needs related to our Advancement Fund. It contains the remaining part of the original pre-mine after having the rest spent in 2013 on various bounties, promotion, infrastructure maintenance, etc. Miners have received probably the largest chunk of it in lucky transaction fees. There were 150K ORB left by the summer of 2014. They have been used for the following means:
7.6K ORB paid out to the miners of the forked v1.3.2 chain early in 2014 until v1.4 had been released with the PoW mining fixed (Orbitcoin v1.3.2 Coin Exchange);
600 ORB distributed among the people who mined the first 50 PoW blocks after the switch to NeoScrypt in December of 2014 (100 ORB to the 1st block finder and 10x payouts for the next 50 blocks);
5K ORB sent to David who had designed an excellent web site for Orbitcoin (3-Aug-2015).
136793.557749 ORB available for the future challenges
oRBBYYiaQ6Kw5fhf2b9YiT86HmynCBsoej
