I don't believe Hazard pre-mined it. I actually believe he saw it being pre-mined. Really, he stood to profit by hanging onto his pre-mine; not posting it for all to see.
His post about Hazardcoin followed a few minutes later, probably out of frustration from seeing all these piss poor altcoin launches. I know I'm frustrated by them.
Milkshake said another person also had access to the source code. He could have been the one pre-mining.
no one knows what happened.
Milkshake mighta premined to test it, that's fair, and also we're stuck without a bounty either. I've donated some of my elc's to the bounty since they're all worth nothing if no one contributes to make this coin go.
I dont mind bounty premine, just as long as its in the open and accounted for, blockchainexplorer up and running so we can see the tx for bounties etc. I aslo dont mind a few xxx coin for the OP's, just not 500,000 (depending on the value of the coin).
Milkshake was in a bit over his head, i think. not knowing how to compile the win qt binaries was kinda unfair and bad pr.
The reason the difficulty was so low at launch was because we had to start with a new genesis block. I even helped mine (but mine, with my winning humourous phrase embedded,
was not chosen as i was 8 seconds too late
We needed diff low to get it going fast because of the imploding fuckups. Not sure why the rush, but it'd lose the momentum of launch. WIthout it i think there'd be no coin. No one really wants to wait 5 days for a coin after megafail, it just wont happen.
Maybe hazard thinks he can do better, hopefully he does. He seems to be very opportunistic here. And he encouraged others to join the bogus 1300 block premine chain later, since, hell, why not, he might have had some premine in there too! win win win for OP and hazard. I dont have a copy of the chain to forensically analyse and say otherwise.
The orig code was downloadable at github HOURS before release. I even got a copy, but didnt think to see if nodes were already online. Just wanted to see if it compiled (see problems with compiling royalcoin and powercoin on linux in other forums, lots of Windows related shit left in the makefiles that make linux fail).
I think the biggest problems were
1) not having all trusted binaries ready to go.
2) not having a pool ready to go
3) not having the difficulty set higher to start ( a difficulty of 1 with higher rewards would be a better deal, really, than a low diff with low rewards, orphan city at launch! like all altlaunches)
4) having the elacoin-specific 'fair reward' scaling hurdle set LOWER. diff 24 before 2 elc/block is a bit high of a bar. making it lower would make the coin less valuble but there'd be more coins and more progress earlier on.
Nonetheless, i think there's enough hashes going on that we'll hit 24 eventually - and furthermore, the actual ideas behind Elacoin for midterm use, are great. Freicoin and NVC have ideas that are great for 2-5-10 years from now, but for mining, midterm concerns are important. BTC mining is now 0.0001BTC/d for a $200 card nowadays and destined to get worse. Early miners are exponentially rewarded, which strikes as unfair to new joiners. Having a coin that increases reward for the midterm mining and use (as miners seem to be the biggest proponents of any coin), is a great idea, and I havent seen any other coin do that yet. I just wish the proportionality kicked in at 2 instead of 24.
and, we should probably close this thread now. the blockchain and hashrate is healthy, the bogus one uses a diff genblock so is entirely uncompatible, and Hazard has launched FTC2. What could be a happier ending?
