BitBar Didn't Pre-Mine, they were just conveniently ready

[ymer]

Official announcement on this board:
https://bitcointalk.org/index.php?topic=193519.0 Time: 05:30:04 PM

Announcement: 17:30:04
First Block mined: 17:32:10 (Difficulty 0.00) (Reward 1 Bitbar per block)
First Hundred blocks: 17:33:24
First 200 blocks: 17:36:16
First 300 blocks: 17:39:42
First Thousand blocks: 18:01:22
First 2000 blocks: 18:40:45 (Difficulty 0.012) (Reward 0.528202 per block)
.
.
.
.
Current Block 6000 (Difficulty 15.291) (Reward 0.164687 per block)

So from the time that it was announced to the time someone has time to read the announcement, download the client and configure the .config you need at least 15 minutes, by that time 500 Bitbar were already in the hands of the creator and the people that was aware before the announcement.

Now take into account that the reward is rapidly decreasing, the "conveniently ready miners" are hoarding a huge ammount of bitbars which were easily mined right after the announcement:

Here's one of said wallets:

http://btb.cryptocoinexplorer.com/address/BCJ49q7DHd4sCzwiQ1FDmTx7saxV7fDqX8

[1715151310]

1715151310

[GSnak]

Well look on the bright side, after the coin fades into obscurity and the difficulty drops back to zero, you'll be able to mine all you want.

[hdclover]

So from the time that it was announced to the time someone has time to read the announcement, download the client and configure the .config you need at least 15 minutes, by that time 500 Bitbar were already in the hands of the creator and the people that was aware before the announcement.

I pity you who missed the boat, It took me less than 2 minutes to setup my miner and point to bitbar, and I'm pretty sure most people can do it in less than 1 min.

[hdclover]

the pre-mined thing its all B-U-L-L-S-H-I-T

if you want a taste of bitbar you can just beg me for it, and I might consider it

[Balthazar]

Well look on the bright side, after the coin fades into obscurity and the difficulty drops back to zero, you'll be able to mine all you want.

Unfortunately, this will never happen, because classic difficulty adjustment rules has the power only during 30-day initial period.

[hdclover]

Well look on the bright side, after the coin fades into obscurity and the difficulty drops back to zero, you'll be able to mine all you want.

Unfortunately, this will never happen, because classic difficulty adjustment rules has the power only during 30-day initial period.

+1

[Kyune]

Imagine the multitudes at their keyboards peeing into bottles, afraid to run to the bathroom for fear of missing the narrow launch window of the next scam coin.  

Anyway, I call a BitBar-style of release a "pre-mine".  I think it is a fair term to describe the game being played.  The public announcement of the coin in this forum followed by immediate frenzied mining doesn't come close to creating a level playing field...it's just designed to give the insiders' head start a thin veneer of credibility.

[mr_random]

What you describe happens with most coins that launch

Let's look at some other coins:

Feathercoin launched with difficulty 0
Terracoin launched with difficulty 1 (just as low as 0 in effect)
Chinacoin launched with difficulty 0
Novacoin launched with difficulty 0

etc

[ymer]

What you describe happens with most coins that launch

Let's look at some other coins:

Feathercoin launched with difficulty 0
Terracoin launched with difficulty 1 (just as low as 0 in effect)
Chinacoin launched with difficulty 0
Novacoin launched with difficulty 0

etc

What you describe happens with most SCAMcoins that launch

[Deprived]

What you describe happens with most coins that launch

Let's look at some other coins:

Feathercoin launched with difficulty 0
Terracoin launched with difficulty 1 (just as low as 0 in effect)
Chinacoin launched with difficulty 0
Novacoin launched with difficulty 0

etc

So because other coins fucked it up, this one should too?

I don't mine ANY coin - so not fussed about missing any boats.  But we could do with more genuine alt coins and less of the premine then pump then dump then vanish kind.  Just shuffling around bits of existing coins, premining a load and hoping to sell them off before the coins dies isn't any useful kind of progress - it's been done to death already.

[Balthazar]

What you describe happens with most coins that launch

Let's look at some other coins:

Feathercoin launched with difficulty 0
Terracoin launched with difficulty 1 (just as low as 0 in effect)
Chinacoin launched with difficulty 0
Novacoin launched with difficulty 0

etc

And how many developers sent their instamine to NULL (0400000000000000000000000000000000000000000000000000000000000000000000000000000 000000000000000000000000000000000000000000000000000) pubkey?

http://novacoin.su/tx/9ffcf4b7c8a2e17a2776f7e8aaa0852ed2a7f80386bfc0d63991aac21dbdfe1e

I think that we are only ones who made this.

[TheSwede75]

the pre-mined thing its all B-U-L-L-S-H-I-T

if you want a taste of bitbar you can just beg me for it, and I might consider it

I would love a little piece of the bitbar pie if you want to be a mensch and send me some
BAehs7x97n68HcJ4sZagYxgmAtjvkdkogw

Thx in advance! If you send 'too much' I'll give some away

[bnogal]

solution, fork bitbar in a fair bitbar with an announcement with enough time to be ready (even having time to improve the rig) + a horrible high diff start so it can adjust from high to low first

the solution is easy.... but people like to argue....(and cry) if the fork is done correctly to be as fair as possible the price of bitbar would go to the shit while the price of the fair bit bar would go to the sky.

Oh and i tried to mine having only rejects... but i am happy with my giveaway 0.01

[mr_random]

What you describe happens with most coins that launch

Let's look at some other coins:

Feathercoin launched with difficulty 0
Terracoin launched with difficulty 1 (just as low as 0 in effect)
Chinacoin launched with difficulty 0
Novacoin launched with difficulty 0

etc

So because other coins fucked it up, this one should too?

I don't mine ANY coin - so not fussed about missing any boats.  But we could do with more genuine alt coins and less of the premine then pump then dump then vanish kind.  Just shuffling around bits of existing coins, premining a load and hoping to sell them off before the coins dies isn't any useful kind of progress - it's been done to death already.

You really don't understand? It makes no sense to single out BitBar for having coins that were easier to mine on day one when this has happened so many times in the past with no controversy. Feathercoin, Chinacoin, Terracoin etc didn't have 2 or 3 trolls spamming 'scam premine scam scam easy coins' in every topic. I've seen jealously do things to people but this is insane.

i'm not saying it's the best launch but as far as alt crypto coin launches go, it's done nothing that most other launches haven't done. Even coins which launch with high difficulty (PPCoin) still ended up having 2 million coins being mined on the first day.

[TruCoin]

So from the time that it was announced to the time someone has time to read the announcement, download the client and configure the .config you need at least 15 minutes, by that time 500 Bitbar were already in the hands of the creator and the people that was aware before the announcement.

I pity you who missed the boat, It took me less than 2 minutes to setup my miner and point to bitbar, and I'm pretty sure most people can do it in less than 1 min.

I agree if you couldn't set up to mine this in less than a minute you  just need to stick with velcro shoes and eating paint chips. To think with all the alt coins everyone has had plenty of time to learn this very simple process

[BBQKorv]

I had no problem whatsoever to get mining in less than 2 minutes from seeing the first annoucement with my first rig, the thread did have like one reply at that point or so.
15 minutes to get mining a new scrypt coin and copypaste .conf   No wonder some people are crying loud about missing the train.

Why don't you cry about missing bitcoin train back in the 2009?

Official announcement on this board:
https://bitcointalk.org/index.php?topic=193519.0 Time: 05:30:04 PM

Announcement: 17:30:04
First Block mined: 17:32:10 (Difficulty 0.00) (Reward 1 Bitbar per block)
First Hundred blocks: 17:33:24
First 200 blocks: 17:36:16
First 300 blocks: 17:39:42
First Thousand blocks: 18:01:22
First 2000 blocks: 18:40:45 (Difficulty 0.012) (Reward 0.528202 per block)
.
.
.
.
Current Block 6000 (Difficulty 15.291) (Reward 0.164687 per block)

So from the time that it was announced to the time someone has time to read the announcement, download the client and configure the .config you need at least 15 minutes, by that time 500 Bitbar were already in the hands of the creator and the people that was aware before the announcement.

Now take into account that the reward is rapidly decreasing, the "conveniently ready miners" are hoarding a huge ammount of bitbars which were easily mined right after the announcement:

Here's one of said wallets:

http://btb.cryptocoinexplorer.com/address/BCJ49q7DHd4sCzwiQ1FDmTx7saxV7fDqX8

[mr_random]

solution, fork bitbar in a fair bitbar with an announcement with enough time to be ready (even having time to improve the rig) + a horrible high diff start so it can adjust from high to low first

the solution is easy.... but people like to argue....(and cry) if the fork is done correctly to be as fair as possible the price of bitbar would go to the shit while the price of the fair bit bar would go to the sky.

Oh and i tried to mine having only rejects... but i am happy with my giveaway 0.01

PPCoin which BitBar is based on along with Novacoin had a high difficulty and 2 million were still created on day 1.

What's happened is here is pretty 'normal' for a cryptocoin launch.

[ymer]

So the solution is to monitor the ANN 24/7 to not miss the boat?

Some people are just too retarded.

[zdarkazn]

So the solution is to monitor the ANN 24/7 to not miss the boat?

Some people are just too retarded.

Thats what a lot of people do. Sorry if you dont have time to monitor, that means you missed the boat. Lol

[ymer]

So the solution is to monitor the ANN 24/7 to not miss the boat?

Some people are just too retarded.

Thats what a lot of people do. Sorry if you dont have time to monitor, that means you missed the boat. Lol