Hypotetical question: you have a mineable coin,miners take it all?

[Killerkenny]

Hey!

If "you" develop a coin and have less than average mining rig(s) what will happen if someone brings on the titans and mine like 100-200x more than the creator can ever make himself? Assuming no premine tho..

Scenario: dev launch a no premine scrypt coin,makes a pool and it's exchangeable for say 1000sat,however he can ONLY get hold on say 1000coins per day,while a"bigminer" gets 200-300 000coins(because of good rig)
Assuming total suply is like 50-100mill coins.

Will the creator then loose on this?or what will happen?

By no means is this ment for the developer to take it all,but will current scenario "crush" further process and liveability for the coin itself? Long story short..one dude/dudette takes 90% shares and the rest of the miners split 10% how will this go in the long run?

[bathrobehero]

I'm not sure what your point/question is.

Devs generally don't make coins just so they can mine them. They usually do mine it but it's not expected they will mine most coins.

And if 90% of the coins are mined by one individual that just means poor distribution due to lack of interest or closed doors (coin is not compeltely public) which means the coins is bad and people won't touch it.

If the dev has to mine his own coin in order to afford further development or because he just wants profit that coin shouldn't exist in the first place.

[NUFCrichard]

Hey!

If "you" develop a coin and have less than average mining rig(s) what will happen if someone brings on the titans and mine like 100-200x more than the creator can ever make himself? Assuming no premine tho..

Scenario: dev launch a no premine scrypt coin,makes a pool and it's exchangeable for say 1000sat,however he can ONLY get hold on say 1000coins per day,while a"bigminer" gets 200-300 000coins(because of good rig)
Assuming total suply is like 50-100mill coins.

Will the creator then loose on this?or what will happen?

By no means is this ment for the developer to take it all,but will current scenario "crush" further process and liveability for the coin itself? Long story short..one dude/dudette takes 90% shares and the rest of the miners split 10% how will this go in the long run?

If you release a Scrypt coin now and one miner starts mining 90% of the coins, you have yourself a shitcoin!
To save yourself the effort, don't make a new coin, unless you have some great idea for a new coin.

Chances are though that you don't, you want a get rich quick plan, but even you see that it won't work, so just don't!

[Killerkenny]

nah i didnt mean it that way!=)

i just mean,how can you avoid the available coins to not be taken by 1-2 individuals and make the distribution more fair?

the whole idea is this:

#avoid it being taken by the few,but powerful miners
#make it available for most people without the need to buy it from the top 3 miners?
#make it live for a long time to avoid pump and dump,that so many coins fall victim to.

Since people consider premine a BIG no no,i was just wondering if there are other ways to "give" it out to the crowds,whilst still minimize dumping:)

i was just wondering,will the bigminers make the coin die fast?cause normal people cant get it and the dev sitting on no power over the coin because "whales" take it all throught mining(aka 51% death)?and how to avoid?

My formulation might not be the best,but my intentions and hunger to contribute to this comunity is,just trying to figure out how to not fall in the common pits if my time ever comes!

money and earnings are not my problem,the problem is just how to avoid someone to skyrock the diff so the regular guy can never get them,thats my biggest concern!=)

BUT IF i where to make something someday,i will make it a stable and good growing coin that is backed up by my own solid economics,and i want all to benefit from it and not just a few,i also wanna donate to charity some % of my "own" earnings,all others wanna earn by themselfs and i`m more of the type to give something back to those that actually do good things for others!

question is only how to best do that?there are many coins released and that die soon after,if i ever where to invest time and money into something i will make the whole structure and build working flawlessly.

Better to ask experts for help than to just dump some shit out right?

just to state it once again: i dont care if I benefit,i just want to give people that don`t have that much money or mining gear a chance to earn something on a "fair ground".


as my status here states i´m a "newbie" willing and eager to learn from the crypto community,in real life i´m an security engineer and a trader in finance(euro,usd,gbp,stocks++)and the whole "earning" and "grabbing" myself are of no interest to me when i`m currently sitting on enough money,just to clear that out.

I just want a new way to "let others have a chance".

are we on the same page? or block?

[BARR_Official]

If someone else gets all the coins, you can buy their coins

[MisO69]

i just mean,how can you avoid the available coins to not be taken by 1-2 individuals and make the distribution more fair?

the whole idea is this:

#avoid it being taken by the few,but powerful miners
#make it available for most people without the need to buy it from the top 3 miners?
#make it live for a long time to avoid pump and dump,that so many coins fall victim to.
-snip-

Give people a reason to mine it.
Have some innovation or backing around your coin you will attract a larger crowd.
Get some help from the crypto community in marketing the coin.
Be completely upfront and transparent about everything.
Launch it with a countdown during a time when most of the world is awake.
Have a roadmap for the coin and follow that roadmap.
After the coin is launched don't change anything in terms of supply, emission, consensus mechanism etc.

[Killerkenny]

Thanks for the input!:)

[cryptohunter]

Dev should just premine 5% that is held by escrows and released to him over time for work done. Or a greater % if he really is intending on doing a lot of work. So long as the premine is fully announced and is held by escrows then it should be okay. Even better if a full ledger for where he spent the coins.