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Eb0la
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May 06, 2013, 01:54:39 AM |
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Just an FYI on Chinacoin.
I was one of the first miners along with a buddy of mine. He managed to see it posted in another location first so we jumped on it. I mined 400k of it fairly AFTER LAUNCH. Does this mean I pre-mined? NO, it means my buddy is bloody resourceful and found it at the perfect time!
I don't agree that chinacoin was premined. Hate on me if you like.. but it is what it is!
What kind of hash rate do you have?  I only had 6x 7950 hitting it. yes but the metric does give an indication of distributed, ie you have 400,000 of it. I did have 400k of it. I am now under 200k after selling off to seed the market the first 1-2 days. |
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mkmen
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May 06, 2013, 02:11:16 AM |
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I wonder where is BitBar? As that's one of the largest altcoin scams just by definition.. At least from the information (including pretty graphs and lawsuits  ) i've read here. |
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r3animation
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May 06, 2013, 02:13:06 AM |
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Still waiting for an answer by thread starter what is his definition of a pre-mine....
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jubalix (OP)
Legendary
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Activity: 2618
Merit: 1022
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May 06, 2013, 02:43:39 AM |
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Still waiting for an answer by thread starter what is his definition of a pre-mine....
read the edit!!! |
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iamrickrock
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May 06, 2013, 03:01:33 AM |
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True Pre-mine - Mining began before it was announced. I think this is ok to a certain extent as long as it goes to the developers and they use it to pay for server costs, giveaways, paying scripters, and maybe a little for them (like shares in an IPO). As long as this doesn't amount to too much of a pre-mine and they were up front about it, then I wouldn't be against it.
Insta-Mine - Friends of Dev's were sitting waiting to press the button as soon as it was announced thus getting super easy blocks before people have the chance to get their miners prepared. This has probably been done by every single coin in existence. It's not super ethical and I think this pisses people off. Setting the difficulty higher upon release would solve some of this issue (New Devs please take note).
Insta-Mine with Large blocks - This is the one where the first blocks are set to pay out several hundred coins then drop as the "days" go on. This is probably the worst of all especially if the Dev's friends are ready to mine the instant it is announced and even worse when the difficulty is so low that after 20 minutes the first 3 days of blocks are already eaten up my these miners. This is the only one that actually upsets me because it is set up to look like it is fair and great for early adopters but in reality it is the most unfair way to launch a coin.
It's a Pre-Mine because I didn't know about it - This is probably the real reason people call a coin "pre-mined" or "scam". It's because they are butthurt that they weren't online when it was announced, the difficulty went up to high before they could get in on it and now the want to make the coin look bad so that they can get people to lose faith in it and therefore lower the hash rate (or prices). Or, they prefer another coin and think that by bashing another coin their coin will look better. This actually has the opposite affect bringing more awareness to the coin.
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jubalix (OP)
Legendary
Offline
Activity: 2618
Merit: 1022
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May 06, 2013, 03:02:59 AM |
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True Pre-mine - Mining began before it was announced. I think this is ok to a certain extent as long as it goes to the developers and they use it to pay for server costs, giveaways, paying scripters, and maybe a little for them (like shares in an IPO). As long as this doesn't amount to too much of a pre-mine and they were up front about it, then I wouldn't be against it.
Insta-Mine - Friends of Dev's were sitting waiting to press the button as soon as it was announced thus getting super easy blocks before people have the chance to get their miners prepared. This has probably been done by every single coin in existence. It's not super ethical and I think this pisses people off. Setting the difficulty higher upon release would solve some of this issue (New Devs please take note).
Insta-Mine with Large blocks - This is the one where the first blocks are set to pay out several hundred coins then drop as the "days" go on. This is probably the worst of all especially if the Dev's friends are ready to mine the instant it is announced and even worse when the difficulty is so low that after 20 minutes the first 3 days of blocks are already eaten up my these miners. This is the only one that actually upsets me because it is set up to look like it is fair and great for early adopters but in reality it is the most unfair way to launch a coin.
It's a Pre-Mine because I didn't know about it - This is probably the real reason people call a coin "pre-mined" or "scam". It's because they are butthurt that they weren't online when it was announced, the difficulty went up to high before they could get in on it and now the want to make the coin look bad so that they can get people to lose faith in it and therefore lower the hash rate (or prices). Or, they prefer another coin and think that by bashing another coin their coin will look better. This actually has the opposite affect bringing more awareness to the coin.
and the proposed metric at the begining allows them all to be compared!!!! |
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r3animation
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May 06, 2013, 03:06:00 AM |
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True Pre-mine - Mining began before it was announced. I think this is ok to a certain extent as long as it goes to the developers and they use it to pay for server costs, giveaways, paying scripters, and maybe a little for them (like shares in an IPO). As long as this doesn't amount to too much of a pre-mine and they were up front about it, then I wouldn't be against it.
Insta-Mine - Friends of Dev's were sitting waiting to press the button as soon as it was announced thus getting super easy blocks before people have the chance to get their miners prepared. This has probably been done by every single coin in existence. It's not super ethical and I think this pisses people off. Setting the difficulty higher upon release would solve some of this issue (New Devs please take note).
Insta-Mine with Large blocks - This is the one where the first blocks are set to pay out several hundred coins then drop as the "days" go on. This is probably the worst of all especially if the Dev's friends are ready to mine the instant it is announced and even worse when the difficulty is so low that after 20 minutes the first 3 days of blocks are already eaten up my these miners. This is the only one that actually upsets me because it is set up to look like it is fair and great for early adopters but in reality it is the most unfair way to launch a coin.
It's a Pre-Mine because I didn't know about it - This is probably the real reason people call a coin "pre-mined" or "scam". It's because they are butthurt that they weren't online when it was announced, the difficulty went up to high before they could get in on it and now the want to make the coin look bad so that they can get people to lose faith in it and therefore lower the hash rate (or prices). Or, they prefer another coin and think that by bashing another coin their coin will look better. This actually has the opposite affect bringing more awareness to the coin.
I'm on-board with these definitions. |
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RetardedMonkey
Newbie
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Activity: 42
Merit: 0
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May 06, 2013, 03:10:33 AM |
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It's a Pre-Mine because I didn't know about it - This is probably the real reason people call a coin "pre-mined" or "scam". It's because they are butthurt that they weren't online when it was announced, the difficulty went up to high before they could get in on it and now the want to make the coin look bad so that they can get people to lose faith in it and therefore lower the hash rate (or prices). Or, they prefer another coin and think that by bashing another coin their coin will look better. This actually has the opposite affect bringing more awareness to the coin. This. Early adoption doesn't mean pre-mine. |
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Eb0la
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May 06, 2013, 03:22:07 AM |
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True Pre-mine - Mining began before it was announced. I think this is ok to a certain extent as long as it goes to the developers and they use it to pay for server costs, giveaways, paying scripters, and maybe a little for them (like shares in an IPO). As long as this doesn't amount to too much of a pre-mine and they were up front about it, then I wouldn't be against it.
Insta-Mine - Friends of Dev's were sitting waiting to press the button as soon as it was announced thus getting super easy blocks before people have the chance to get their miners prepared. This has probably been done by every single coin in existence. It's not super ethical and I think this pisses people off. Setting the difficulty higher upon release would solve some of this issue (New Devs please take note).
Insta-Mine with Large blocks - This is the one where the first blocks are set to pay out several hundred coins then drop as the "days" go on. This is probably the worst of all especially if the Dev's friends are ready to mine the instant it is announced and even worse when the difficulty is so low that after 20 minutes the first 3 days of blocks are already eaten up my these miners. This is the only one that actually upsets me because it is set up to look like it is fair and great for early adopters but in reality it is the most unfair way to launch a coin.
It's a Pre-Mine because I didn't know about it - This is probably the real reason people call a coin "pre-mined" or "scam". It's because they are butthurt that they weren't online when it was announced, the difficulty went up to high before they could get in on it and now the want to make the coin look bad so that they can get people to lose faith in it and therefore lower the hash rate (or prices). Or, they prefer another coin and think that by bashing another coin their coin will look better. This actually has the opposite affect bringing more awareness to the coin.
Can we sticky this!!  |
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Starlightbreaker
Legendary
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Activity: 1764
Merit: 1006
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May 06, 2013, 03:27:35 AM |
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no solidcoin?
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Equality
Newbie
Offline
Activity: 37
Merit: 0
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May 06, 2013, 03:40:32 AM |
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True Pre-mine - Mining began before it was announced. I think this is ok to a certain extent as long as it goes to the developers and they use it to pay for server costs, giveaways, paying scripters, and maybe a little for them (like shares in an IPO). As long as this doesn't amount to too much of a pre-mine and they were up front about it, then I wouldn't be against it.
Insta-Mine - Friends of Dev's were sitting waiting to press the button as soon as it was announced thus getting super easy blocks before people have the chance to get their miners prepared. This has probably been done by every single coin in existence. It's not super ethical and I think this pisses people off. Setting the difficulty higher upon release would solve some of this issue (New Devs please take note).
Insta-Mine with Large blocks - This is the one where the first blocks are set to pay out several hundred coins then drop as the "days" go on. This is probably the worst of all especially if the Dev's friends are ready to mine the instant it is announced and even worse when the difficulty is so low that after 20 minutes the first 3 days of blocks are already eaten up my these miners. This is the only one that actually upsets me because it is set up to look like it is fair and great for early adopters but in reality it is the most unfair way to launch a coin.
It's a Pre-Mine because I didn't know about it - This is probably the real reason people call a coin "pre-mined" or "scam". It's because they are butthurt that they weren't online when it was announced, the difficulty went up to high before they could get in on it and now the want to make the coin look bad so that they can get people to lose faith in it and therefore lower the hash rate (or prices). Or, they prefer another coin and think that by bashing another coin their coin will look better. This actually has the opposite affect bringing more awareness to the coin.
you forgot the one where the developer creates a GPU miner before he releases the coin. then when he releases the coin he says the coin is only able to be mined by CPUs and the only mining software he releases to the public is a CPU miner. how great the pre-mine is determined by how many times faster the developer created mining to be on a GPU compared to a CPU. and how long it takes someone to realize this coin can be mined by a GPU and creates a GPU miner that he releases to the public. sadly enough this was litecoin.  and the one where nobody knows how to mine it after it's released because the blocks are created in less than a second and most people don't know the setting to change in cgminer in order to actually find a block. so all the blocks go to the developer and the few people who noticed the coin was released within the first 15 minutes of its release and knew the setting to change. the developer gets nearly all the blocks in the beginning when 90% of all coins that will ever be created are created. |
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digitalindustry
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May 06, 2013, 03:43:03 AM |
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so , ah, pretty much every "Alt" currency then.
i just followed the list an saw pretty much all of them added.
wouldn't it be easier to list the ones that you define as "not Pre- mined"
shorter list?
by the way wack the ultimate Pre -mined currency in there !
BITCOIN !
my vote goes to ad BITCOIN to the pre-mine list its the ultimate in pre-mined coin technology !
as it was the first, less information , now a days every man and his GPU farm are waiting for a new currency.
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- Twitter @Kolin_Quark
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digitalindustry
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May 06, 2013, 03:46:16 AM |
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anyone got any solid info on how few of hands the first say ....oh, 1/2 million Bitcoins went into ?
Bitcoin Ultimate Pre-mined currency.
Pre-mine it works !
(said in the Pre-crime way)
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- Twitter @Kolin_Quark
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kooke
Sr. Member
Offline
Activity: 448
Merit: 250
Bitcoin super-duper-mega-ultra-hyper-node
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May 14, 2013, 03:32:00 AM |
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Junk Coin - 1 million pre-mine
YaC Coin - 500k pre-mine
Power Coin - 56k pre-mine
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defaced
Legendary
Offline
Activity: 2184
Merit: 1011
Franko is Freedom
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May 14, 2013, 03:48:10 AM |
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True Pre-mine - Mining began before it was announced. I think this is ok to a certain extent as long as it goes to the developers and they use it to pay for server costs, giveaways, paying scripters, and maybe a little for them (like shares in an IPO). As long as this doesn't amount to too much of a pre-mine and they were up front about it, then I wouldn't be against it.
Insta-Mine - Friends of Dev's were sitting waiting to press the button as soon as it was announced thus getting super easy blocks before people have the chance to get their miners prepared. This has probably been done by every single coin in existence. It's not super ethical and I think this pisses people off. Setting the difficulty higher upon release would solve some of this issue (New Devs please take note).
Insta-Mine with Large blocks - This is the one where the first blocks are set to pay out several hundred coins then drop as the "days" go on. This is probably the worst of all especially if the Dev's friends are ready to mine the instant it is announced and even worse when the difficulty is so low that after 20 minutes the first 3 days of blocks are already eaten up my these miners. This is the only one that actually upsets me because it is set up to look like it is fair and great for early adopters but in reality it is the most unfair way to launch a coin.
It's a Pre-Mine because I didn't know about it - This is probably the real reason people call a coin "pre-mined" or "scam". It's because they are butthurt that they weren't online when it was announced, the difficulty went up to high before they could get in on it and now the want to make the coin look bad so that they can get people to lose faith in it and therefore lower the hash rate (or prices). Or, they prefer another coin and think that by bashing another coin their coin will look better. This actually has the opposite affect bringing more awareness to the coin.
I cast my vote for these definitions aswell. Spot on. |
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