Why the monero/bitmonero/MRO/BMR/XMR Cripplemined Fastmine matters

[MasterMined710]

Monero Ninja Launch:

The original Announcement thread was started in the wrong place so the dev team could benefit before most even knew it had been launched. Monero's history is scattered and obscured, the current Monero ANN thread is not the original ANN thread which is a immediate red flag for any crypto project. Some say the original name (Bitmonero/BMR/MRO) was changed (monero/xmr) to cover up the launch issues and association with the original monero scam developer named "thankful_for_today". He was an anonymous dev and was "supposedly" kicked out, but he could have just changed his name to something like "groove" or "puffypony" and continued.

How many threads does this coin need?  

One in the right place, apparently  

Monero Cripplemine:

At least 6-7% of the total coin supply affected (Possibly 10-15%)
1.37 million plus monero mined with optimized miners while scam dev team led by thankful_for_today pushed a crippled miner on everyone else.

Months 2-3 total coins mined was 1.37 million.

Minting Money with Monero ... and CPU vector intrinsics
August 28, 2014
"The original developers deliberately crippled the miner."
https://da-data.blogspot.de/2014/08/minting-money-with-monero-and-cpu.html




Monero Fastmine:

The monero cripplemine was bad but the fastmine is where the most unfair distribution took place.
Monero has a highly inflationary emission curve where around half the coins were mined in the first year and will have "Roughly 86% mined in 4 years".
By comparison, Bitcoin is almost 7 years old and only has 75% mined. It will take them another 4+ years to get to monero's 86%.
So it will take BTC & LTC 11+ years to get to ~86% mined and monero only 4 years. It will take DASH another 20 years to get to 86%.
What does all this mean? It means all the OG fat cats and fluffy ponies already own most all of the monero, centralizing future distribution.





They knew it was a problem but did nothing......
[BMR] BitMonero emission curve change (proposal)
https://bitcointalk.org/index.php?topic=585480.0


[ANN][MRO] Monero - an anonymous coin based on CryptoNote technology
"It was said that this coin had a mining reward schedule similar to bitcoin. In fact it is twice as fast as intended, even even a bit more than twice as fast as bitcoin.
If you acquired your coins on the basis of the advertised reward schedule, you would be disappointed, and rightfully so, as more coins come to into existence more quickly than you were led to believe." Smooth, Lead monero Dev
https://bitcointalk.org/index.php?topic=582080.0

monero had ~750,000 coins mined the first 4 weeks (btc ~210,000) which is way faster than normal

i think a cripplemined fastmine best describes monero.

Incentivised by the massive amount of fastmined coins spilling out, the coin was heavily Botnet mined....
https://bitcointalk.org/index.php?topic=583449.msg7771469#msg7771469
See also: Monero Stealth miner issue


The fastmine experiment has caused other serious issues that are all starting to add up....
Monero [XMR] block reward plummets below 3 XMR per block
March 28, 2019
“Indeed sustained low block rewards will be a challenge.. AFAIK no cryptocurrency has entered this new « state » It seems Monero might be the first one. My anxiety level will be high in 2021:)"
https://ambcrypto.com/monero-xmr-block-reward-plummets-below-3-xmr-per-block/

"Until May 2022, Monero's "main curve" will produce a large number of new coins. After that, a "tail curve" will reduce Monero's inflation to less than 1% per year." All your monero are belong to us. Monero has been seriously centralized by the fastmine and hoovered up by the early fat cats and fluffy ponies of the world. monero for me - none left for thee.
https://www.bitrates.com/news/p/up-up-and-away-how-cryptocurrencies-are-dealing-with-inflation



Mining centralization issues:

Not only is monero's physical mining centralized and susceptible to 51% attacks but due to its lack of decentralized governance capabilities its mining algorithm itself is centralized and subject to change on a whim every 6 months or so with decisions being made by a small centralized cabal of unknown devs. The later would seem to violate the entire spirit and principles of cryptocurrency, especially for a coin like monero which claims to be based around such hardcore anarchist beliefs.

DOES MONERO HAVE A SERIOUS CENTRALIZED MINING PROBLEM?
RICARDO MARTINEZ | FEB 10, 2020
https://bitcoinist.com/does-monero-have-a-serious-centralized-mining-problem/




Major issue, Undetectable Inflation:
Warnings from monero's own website...

Posted by: Sarang Noether, Ph.D.; Justin Ehrenhofer
January 17, 2020
"If your personal use case requires an absolute, 100%, no-holds-barred guarantee of supply, and you understand the risks inherent with this, then you need a transparent asset." Dash not mentioned.

"the use of an opaque asset introduces the risk of implementation flaws that may or may not be detectable because of the underlying mathematics of commitments and more complex proving systems. The use of mitigating approaches like transparent migrations can assert eventual available supply consistency, but this comes with the risk of losing honest funds too."

"implementation flaws leading to undetectable inflation. Such flaws could arise in many ways, but are limited to opaque assets (like Monero or shielded Zcash) where it is not possible to simply count the currently-available supply. Such a flaw affected Zcash. In this case, it is worth noting that the use of transparent fund migration means that an attempt to move enough exploited funds through the transparent Zcash pool could be detected and would result in any remaining funds (including those of honest users) being permanently frozen. It could be possible to modify the Monero protocol to produce similar supply detection, but this introduces additional risks, reduces privacy and fungibility, and would still require a decision relating to fund freezing; there are no plans to do this."
https://web.getmonero.org/2020/01/17/auditability.html




Press reports on monero (Bytecoin/Cryptonote) privacy issues and other dangerous bugs:


"the Bytecoin/Cryptonote codebase is atrociously bad"
Peter Todd


May 29, 2023
There was a Privacy Bug in Monero for the last 3 years 😨
How Bad was the bug?
How does this bug affect users of Monero?
This thread answers all of these questions and more!
https://twitter.com/AnonIndustries_/status/1663229977456967681


A rather significant bug has been spotted in Monero's decoy selection algorithm that may impact your transaction's privacy. Please read this whole thread carefully. Another one! 7-26-21
If users spend funds immediately following the lock time in the first 2 blocks allowable by consensus rules (~20 minutes after receiving funds), then there is a good probability that the output can be identified as the true spend.
https://twitter.com/monero/status/1419852036913475587
CoinDesk: Bug Found in Decoy Algorithm for Privacy Coin Monero
https://youtu.be/7sTghOv4rCI



Privacy coins no more? CipherTrace files patents for tracing Monero transactions Nov. 2020
The firm claims it will be able to identify XMR used for illicit purposes to support criminal investigations.
https://cointelegraph.com/news/privacy-coins-no-more-ciphertrace-files-patents-for-tracing-monero-transactions


CipherTrace develops Monero tracing tool to aid US DHS investigations - 2020
https://cointelegraph.com/news/ciphertrace-develops-monero-tracing-tool-to-aid-us-dhs-investigations


Monero Privacy Protections Aren’t as Strong as They Seem | WIRED 2018
https://www.wired.com/story/monero-privacy/


Monero [XMR] Privacy Protection May Be Deficient - 2018
https://globalcoinreport.com/monero-xmrs-privacy-protection-may-be-deficient/


Monero has some real issues! 2018
https://news.ycombinator.com/item?id=16688416


Monero Transactions History Can Be Revealed and Exposed: Research
https://cointelegraph.com/news/monero-transactions-history-can-be-revealed-and-exposed-research


CryptoNote Currency Bug Allowed Creation of Unlimited Number of Coins
https://www.cryptocoinsnews.com/cryptonote-currency-bug-allowed-creation-unlimited-number-coins/


Disclosure of a Major Bug in CryptoNote Based Currencies
Posted by: luigi1111 and Riccardo "fluffypony" Spagni
May 17, 2017
https://getmonero.org/2017/05/17/disclosure-of-a-major-bug-in-cryptonote-based-currencies.html


Warning: Every CryptoNote/Monero transaction in history will be retroactively exposed
https://steemit.com/cryptonote/@macrochip/warning-every-cryptonote-monero-transaction-in-history-will-be-retroactively-exposed


Fundamental monero security flaw, Chain Split attack
What chain splits mean for Monero - 2018
https://youtu.be/TlVsMTeT_nE



It Turns Out Monero’s Privacy Coin Wasn’t So Private After All
By Robert Johnson on August 2, 2018
Reports out today highlight yet another security vulnerability within Monero XMR, a cryptocurrency designed for optimum privacy. Now we already know of the associations between Monero and malicious mining, but this marks another example of how XMR traders and investors have been put at risk, simply due to the markup of the currency.
https://cryptodaily.co.uk/2018/08/it-turns-out-moneros-privacy-coin-wasnt-so-private-after-all/


US DEA ‘ACTUALLY WANTS’ CRIMINALS TO KEEP USING BITCOIN
Speaking about altcoins, specifically Monero and Zcash, whose privacy-focused technology has likewise come in for flack from naysayers, Infante said that even these were not beyond the DEA’s radar.
“We still have ways of tracking them,” she added.
https://bitcoinist.com/dea-wants-criminals-use-bitcoin/


On-chain tracking of Monero and other Cryptonotes 2019
Final nail in the coffin of Monero privacy
https://medium.com/@crypto_ryo/on-chain-tracking-of-monero-and-other-cryptonotes-e0afc6752527


FloodXMR: Low-cost transaction flooding attack with Monero’s bulletproof protocol 2019
The attacker could potentially trace nearly 50% of inputs at a cost of less than $2,000.
https://www.ccn.com/vitalik-buterin-eyes-research-on-privacy-coin-moneros-traceability
https://eprint.iacr.org/2019/455.pdf


A well-respected cryptographer released a tool called http://www.monerolink.com, where you can link all transactions from 2014-2016 with 100% (due to blockchain timing analysis apparently), and all transactions from 2016-2017 are linkable with a probabilistic distribution dependent on mixin size. So they have a table on the site, 1 mixin transactions are linkable 86% of the time, 10+ mixin transactions are linkable 22% of the time.
Monero has since fixed this bug going forward, but if you used monero on a Dark Net Market between 2014-2017, BEWARE!


Devs disclose critical XMR-burning bug in Monero wallets 2018
Hackers could have tricked exchanges into giving up their XMR
https://thenextweb.com/hardfork/2018/09/25/monero-burning-vulnerability/


Monero security flaw could’ve seen XMR stolen from cryptocurrency exchanges 7-4-2019
Devs have just disclosed nine scary bugs in Monero code
https://thenextweb.com/hardfork/2019/07/04/monero-cryptocurrency-security-flaw-bug-hackerone-disclosure-hack/


Further Investigations
TLDR: Monero was never a real privacy coin. Multiple problems that Ciphertrace is currently exploiting were reported to Monero project in 2016 and remain unfixed since. To draw attention to the issue I will publish transactions, IP addresses and porn preferences of 100 "lucky" Monero users every day.
Monero "BADCACA" tracking project
Monero doesn't work. There is a dozen of known ways to track it.
Did you use Monero yesterday? If so, check the list below, you might be on it.
https://monero-badcaca.net/


Unveiling the truth over the major Monero scam
https://bitcointalk.org/index.php?topic=755840.0


Dash's privacy feature has never been broken - Turns out Monero's privacy feature has never really worked to begin with
https://www.reddit.com/r/dashpay/comments/65fz68/dashs_privacy_feature_has_never_been_broken_turns/



 Former Monero Maintainer ‘Fluffypony’ Arrested and to Be Extradited for Non-Crypto Crimes
Riccardo Spagni, who was arrested in Tennessee, will be extradited to South Africa to face fraud charges.
https://www.coindesk.com/former-monero-maintainer-fluffypony-to-be-extradited-for-non-crypto-crimes

 Monero’s former maintainer arrested in the US for allegations unrelated to cryptocurrency
An arrest warrant for Riccardo Spagni was issued on July 20, 2021, at the request of the South African government. He was apprehended the same day in the United States.
https://cointelegraph.com/news/monero-s-former-maintainer-arrested-in-u-s-for-allegations-unrelated-to-cryptocurrency
https://www.saps.gov.za/journal/sdetails.php?jid=13981

Fluffy, you got some Splainin to do...
Dissecting the MyMonero Scam: Part One
https://librehash.org/dissecting-the-mymonero-scam-part-one/


DISCLAIMER:
I am a Bitcoin, ETH and DASH fan and I do not deny a conflict of interest. Nevertheless I endeavor to be factual and I suggest that readers consider the facts, check the facts, reach your own conclusions about what happened and how it matters today, and finally to avoid the temptation to attack the person stating the facts or the coin(s) with which he might be associated
EDIT: add disclaimer, various typos, writing cleanups, reformatting, add references.


They drew first blood. This thread was Creatively inspired by...
Why the darkcoin/dash/dashpay instamine matters
https://bitcointalk.org/index.php?topic=999886.0

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[dnaleor]

Monero always kept their initial schedule and never changed it
(unlike other coins, like DASH which lowered their total emission several times and where more than 20% of the current supply was mined in the first hours: https://bitcointalk.org/index.php?topic=421615.msg13017231#msg13017231)

Monero merely catches up with bitcoin emission, and will eventually have more coins than BTC, due to the minimum block reward starting in 2022:

[smooth]

Respectfully, I'd ask the Monero supporters to either stay on topic and explain why the premise is nonsense as I have done in the past (I don't have an easy link to the post but I broke down the specific chronology and cited sources showing how the crippled miner only accounted for a few percent of the coins at most, with well-documented non-involvement of the coin team) or just ignore this obvious troll thread.

It is no more legitimate to respond to this thread with comments about Dash, charts of the Dash instamine, etc. than it is for Dash supporters to respond to criticism of their instamine scam with comments about Monero.

EDIT: nice chart comparing XMR and BTC over a longer term view. It looks like from 2020 or so, XMR and BTC will be very similar in terms of coin supply and inflation, until XMR passes BTC in supply around 2040 and maintains its slightly higher <1% inflation going forward long term.

[MasterMined710]

Respectfully, I'd ask the Monero supporters to either stay on topic and explain why the premise is nonsense as I have done in the past (I don't have an easy link to the post but I broke down the specific chronology and cited sources showing how the crippled miner only accounted for a few percent of the coins at most, with well-documented non-involvement of the coin team) or just ignore this obvious troll thread.

It is no more legitimate to respond to this thread with comments about Dash, charts of the Dash instamine, etc. than it is for Dash supporters to respond to criticism of their instamine scam with comments about Monero.

EDIT: nice chart comparing XMR and BTC over a longer term view. It looks like from 2020 or so, XMR and BTC will be very similar in terms of coin supply and inflation, until XMR passes BTC in supply around 2040 and maintains its slightly higher <1% inflation going forward long term.

thanks smooth, i too have reported them for being off topic.

[cryptohunter]

Respectfully, I'd ask the Monero supporters to either stay on topic and explain why the premise is nonsense as I have done in the past (I don't have an easy link to the post but I broke down the specific chronology and cited sources showing how the crippled miner only accounted for a few percent of the coins at most, with well-documented non-involvement of the coin team) or just ignore this obvious troll thread.

It is no more legitimate to respond to this thread with comments about Dash, charts of the Dash instamine, etc. than it is for Dash supporters to respond to criticism of their instamine scam with comments about Monero.

EDIT: nice chart comparing XMR and BTC over a longer term view. It looks like from 2020 or so, XMR and BTC will be very similar in terms of coin supply and inflation, until XMR passes BTC in supply around 2040 and maintains its slightly higher <1% inflation going forward long term.

thanks smooth, i too have reported them for being off topic.

This is on topic.

I have not looked into monero. The things he claims "could" be true

HOWEVER - i would not trust one word mastermined710 says.

I was on the xcoin(dash) captive instamine launch. I was there in real time and watched it unfold.

He now tries to deny things that happened  actually happened  on that launch. He is not to be trusted.

Although, this is not a dash/xcoin/dark thread I will not go into it here. I will only say if you want examples of his lies then please contact me for details.

This person is either a total scammer or likes to try and destroy the truth with nuances that are laughable. His tactic is to say he is telling the truth so that the real truth that is a correct and proper picture is distorted and cast in doubt.

He is making this thread only to divert from the dash scam thread.

He is a scam protector and pumper.

[ArticMine]

[DISCLAIMER: see disclaimer of conflict of interest at the bottom]

Quote: "If you see fraud and don't shout fraud, you are a fraud"
  -- Nassim Taleb (credit to Icebreaker for the quote).


...



Monero Cripplemine: 6-7%+ of the total supply
~1.5 million monero mined with optimized miners while dev team pushed a crippled miner on everyone else.



Monero Fastmine / Instamine:
The monero cripplemine was bad but the fastmine is where the most unfair distribution took place.

Monero has a highly inflationary emission curve where around half the coins were mined in the first year and will have "Roughly 86% mined in 4 years".

By comparison, Bitcoin is almost 7 years old and only has 75% mined. It will take them another 4+ years to get to monero's 86%.

So it will take BTC & LTC ~11+ years to get to ~86% and monero only 4 years. It will take DASH ~ another 20 years to get to 86%.


...



DISCLAIMER: I am a DASH fan boy and I do not deny a conflict of interest. Nevertheless I endeavor to be factual and I suggest that readers consider the facts, check the facts, reach your own conclusions about what happened and how it matters today, and finally to avoid the temptation to attack the person stating the facts or the coin(s) with which he might be associated]  

These figures are all wrong because they ignore the fact that Monero has a minimum tail emission equal 0.6 XMR per 2min block. This has been part of the social covenant in Monero since the start indicated first as a tail emission of less than 1% and then finalized at 0.6 XMR per 2min block. The comparison with Bitcoin and Litecoin fails simply because both Bitcoin and Litecoin have a fixed maximum number of coins while Monero does not. The comparison with Dash is even worse because not only does Dash have a fixed money supply but the Dash maximum money supply was drastically reduced after launch.

There was considerable debate over the changing of the emission curve in the Monero community and the presence of a tail emission was a factor in that debate, and the final decision to leave the emission curve alone.

[Febo]

~1.5 million monero mined with optimized miners while dev team pushed a crippled miner on everyone else.

where you pull this out?

Emission till end of May was about 1 milion coins. I started mining about 20th may and difficulty was really hard and all miners were out.

At about that time, a bit before and latter, that guy David Andersen ( some professor on some USA university he is also on this forum and made post about it) optimized miner and rented lots of mining power to mine XMR and instantly dump it on Poloniex.

so if even he mined huge part of those 1 million XMR i have no ideas where you got 1.5 million number.


PS:
It is to hard to find his article where he posted all how it happened. i remember par of time he was on vacations with family. but i found this ethical dilemma he got into on 20th April: http://prntscr.com/arqyjz

[Febo]

Monero has a highly inflationary emission curve where around half the coins were mined in the first year and will have "Roughly 86% mined in 4 years".

Exactly. If 7 milion of Monero was mined in first year that means that there is not unusual to have 1 million mined in first  month and a half.

On other hand

It will take DASH ~ another 20 years to get to 86%.

I failed to find how much Dash was mined first year compared to first month and a half. Do you maybe have a link to some fully working "dash chain explorer"?

[Monerobuyer0]

This thread is such a lie.  Anyone who investigates the truth of the Monero launch will understand that its release was fairer than 99% of all coins out there, and that the very, very small amount of benefit that certain people got over others early on was caused by the fact that it was initially forked from Bytecoin, and thus its miner was forked from a mining software who purpose was to fake a 2 year history of the coin.   

The ones who profited from this are not the current dev team, but rather a couple of individuals who optimized the miner and then mined and sold the Monero they made, putting these coins out into the hands of many.

[generalizethis]

This thread is such a lie.  Anyone who investigates the truth of the Monero launch will understand that its release was fairer than 99% of all coins out there, and that the very, very small amount of benefit that certain people got over others early on was caused by the fact that it was initially forked from Bytecoin, and thus its miner was forked from a mining software who purpose was to fake a 2 year history of the coin.   

The ones who profited from this are not the current dev team, but rather a couple of individuals who optimized the miner and then mined and sold the Monero they made, putting these coins out into the hands of many.

While I don't necessarily disagree with you, as the Monero Devs have been pretty up front and honest about everything from the GUI to the low probability of any coin (including XMR) being successful enough to overtake BTC let alone gold, fiat, ect.), we should be fair to the Dashers as our estimates of what happened with their instamine are based on a probable case that they probably feel is a worst case--though Evan working and being funded by the NSA would be my worst case for that scenario. So just using numbers and facts, what is the most coins that could been mined with the crippled miners and who could they have belonged to? The worst case being one entity who mined enough to break anonymity using the research from MRL1.

[smooth]

one entity who mined enough to break anonymity using the research from MRL1.

Which won't work after the version 2 fork.

[smooth]

~1.5 million monero mined with optimized miners while dev team pushed a crippled miner on everyone else.

where you pull this out?

Emission till end of May was about 1 milion coins. I started mining about 20th may and difficulty was really hard and all miners were out.

At about that time, a bit before and latter, that guy David Andersen ( some professor on some USA university he is also on this forum and made post about it) optimized miner and rented lots of mining power to mine XMR and instantly dump it on Poloniex.

so if even he mined huge part of those 1 million XMR i have no ideas where you got 1.5 million number.

He's using the date range from the blog post from dga who worked for some whale miners to optimize the code and had a high network share until July or so (at a cost of $100K/month I think) and assuming all the coins mined up until that point are attributable to unfair cripple mining.

However, he is conveniently ignoring the other info (including from that very same blog post) that allows you to objectively reduce by a large amount the total coins, and also supports that the developers of Monero had nothing to do with the original probably-deliberately crippled code. For example, in the blog post it is stated that he didn't even start working on optimizing until after the first (most probable) of the alleged crippling had already been removed by NoodleDoodle, so that takes off the first 2 1/2 weeks, etc.

If you analyze it in the other direction and treat dga's group as being "known mining" and work backwards to how much of the unknown mining could have been captured by unknown parties using unfair means (possibly devs, possibly others), again you get a much smaller number.

PS:
It is to hard to find his article where he posted all how it happened. i remember par of time he was on vacations with family. but i found this ethical dilemma he got into on 20th April: http://prntscr.com/arqyjz

That one has nothing to do with Monero since mentions memory use and he never optimized Monero's memory use. He also worked on a bunch of other coins (definitely PTS, not sure which others) so he must have been talking about one of those.

[Snail2]

Monero Ninja Launch:
There were multiple threads started in the wrong place so dev team could benefit before most even knew it had been launched. The Monero ANN thread is not the original ANN thread (true sign of a scam coin) some say the name (Bitmonero) was changed to (monero) cover up the launch issues and association with original acknowledge scam dev.

This part is surely bollocks. I'm not a big monero fan, but BS is BS. I've seen the launch from the very beginning and it was properly communicated, well known event. Everybody who wanted was able to take part.
BTW I still have a wallet what contains a few dozens of moneros what I've mined in the first few days with a doggy dualcore laptop. The emission curve was also subject of a long debate.

[Macrochip]

Monero - Cloning the premined uber-scam "Bytecoin" and avoid scanning the code for fraudulent algorithms
Monero - Insisting on having oh so much integrity yet irresponsibly/willfully shipping a crippled shit-miner to unsuspecting victims/"users"
Monero - Ninjamining an unknown shit-ton of coins within our inner circle through optimized miners while the public gets the crippled one
Monero - The perfect instrument for ninjamining because our CryptoNote-blockchain (aka copycat technology) is opaque
Monero - Projecting our fraud on DASH and yelling "instamine" because no one can see that we are the actual scammers!
Monero - Evan should have chosen CryptoNote for DASH to hide his 5 trillion DASH instamine like we did with our ninjamine!
Monero - Failing to come up with a single innovation of our own and yelling "stop playing the innovation card" when DASH is proven as superior (butthurt)

Monero - Cloning a scam, putting make up on the pig, hoping no one notices

Monero - Too little, too late

Monero -  

[smooth]

Monero Ninja Launch:
There were multiple threads started in the wrong place so dev team could benefit before most even knew it had been launched. The Monero ANN thread is not the original ANN thread (true sign of a scam coin) some say the name (Bitmonero) was changed to (monero) cover up the launch issues and association with original acknowledge scam dev.

This part is surely bollocks. I'm not a big monero fan, but BS is BS. I've seen the launch from the very beginning and it was properly communicated, well known event. Everybody who wanted was able to take part.
BTW I still have a wallet what contains a few dozens of moneros what I've mined in the first few days with a doggy dualcore laptop. The emission curve was also subject of a long debate.

It's a common practice of shitcoins that have their instamines and other scams brought to light to retaliate against any coin communities that don't observe the green wall of silence ("scam and let scam") using nonsense and overblown accusations. Dash isn't anywhere near the first to engage in such behavior and won't be the last.

[Macrochip]

https://bitcointalk.org/index.php?topic=755840.0

Ah yes, that's a classic!
Anyone associated (most likely the devs themselves) with the people running an ultra illegal and morally despicable botnet to mine Monero will undeniably become subject to criminal investigation. And rightfully so.
Pretty sad that no one bothered to mine this shitcoin so they artificially inflated their hashrate by abusing innocent malware victims with this disgusting and pathetic tactic.

Monero - Is it a currency or a virus? Better scan your computer now!

[smooth]

Pretty sad that no one bothered to mine

Eyewitness accounts differ

BTW I still have a wallet what contains a few dozens of moneros what I've mined in the first few days with a doggy dual core laptop. The emission curve was also subject of a long debate.

But then, the entire motive and premise of this thread has been debunked by another eyewitness:

HOWEVER - i would not trust one word mastermined710 says.

I was on the xcoin(dash) captive instamine launch. I was there in real time and watched it unfold.

He now tries to deny things that happened  actually happened  on that launch. He is not to be trusted.

Although, this is not a dash/xcoin/dark thread I will not go into it here. I will only say if you want examples of his lies then please contact me for details.

This person is either a total scammer or likes to try and destroy the truth with nuances that are laughable. His tactic is to say he is telling the truth so that the real truth that is a correct and proper picture is distorted and cast in doubt.

He is making this thread only to divert from the dash scam thread.

He is a scam protector and pumper.

[MasterMined710]

~1.5 million monero mined with optimized miners while dev team pushed a crippled miner on everyone else.

where you pull this out?

from smooth's post, he admitted it was at least 1.37 million.
https://bitcointalk.org/index.php?topic=755840.msg13018553#msg13018553

[smooth]

~1.5 million monero mined with optimized miners while dev team pushed a crippled miner on everyone else.

where you pull this out?

from smooth's post, he admitted it was at least 1.37 million.
https://bitcointalk.org/index.php?topic=755840.msg13018553#msg13018553

Please read the linked post. That is "total coins mined" (by everyone in the entire world) during a two month time period, which is very different from your claim, in fact it contradicts it.

EDIT: Let's quote the entire analysis, since it is relevant here:

By the time I got into it, developer "NoodleDoodle" (hey, this is crypto, people can pick whatever names they want -- Satoshi Nakamoto?) had already untwisted the first "de-optimization" with the AES encryption key.

By the 14th of May, we were 45% of the total hashing power on the coin. .. I think we exceeded 60% of the net hash of the coin at a few points

In the end, our game continued into July -- almost two months

We spent over a quarter of a million dollars renting cloud compute time

I don't personally own any, nor do I hold any Bitcoin - I mine and sell for the most part, to minimize my risk exposure.

Summary:

1. NoodleDoodle's commit was May 7, so the start of dga's mining was after May 7, or 19 days after launch. We know his hash rate reached 4045% by May 14, or 26 days after launch. i.e. during most of the first month he wasn't mining at all.

2. Clearly his hash rate was below 50% for much of the time and only rarely (and not even with certainty) above 60%. There is no evidence it ever reached anything close to 90%, and certainly it wasn't close to that for any consistent period.

3. "Almost" two months, not three months.

4. He kept none of it.

This allows us to narrow down the maximum amount of coins mined by dga and his backers pretty closely:

Months 2-3 total coins mined was 1.37 million. Their likely overall share of roughly 50% makes that 685k. It could have been a little higher but we know from the above quote that they mined for less than two months so this seems a reasonable estimate. Which comes to right around 6.85% of the current supply.

If anyone thinks that a group of large miners and smart coders spending >$250K (plus a lot of coding work) to mine and sell 6.85% of the current supply during the second and third months of a coin launch is a disaster, then yes you should stay away from Monero.

[meme magic]

lol

Ive seen this tactic exactly in use in one other nick, blockafett.