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Author Topic: What does it mean exactly for a coin to be instamined and ultra instamined?  (Read 695 times)
vonross2012
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May 25, 2013, 02:21:10 AM
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What does it mean exactly for a coin to be instamined and ultra instamined?
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Every time a block is mined, a certain amount of BTC (called the subsidy) is created out of thin air and given to the miner. The subsidy halves every four years and will reach 0 in about 130 years.
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MashRinx
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May 25, 2013, 02:24:59 AM
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Premine - someone(s) mining the coin before it is released to the public (usually they will state these are for "bounties" or for the coin's "federation", etc.  personally, I say stay far away from any coin premined for ANY stated reason, but that's just me.  Others may disagree, but usually because they too hold at least a few (probably more than a few) of the coins in question.

instamined - someone(s) ready to mine the coin very quickly after release

ultra instamined - someone(s) ready to mine the coin with a very high hasrate (large number of machines/GPUs when the coin is released
TheSwede75
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May 25, 2013, 02:26:58 AM
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Premine - someone(s) mining the coin before it is released to the public (usually they will state these are for "bounties" or for the coin's "federation", etc.  personally, I say stay far away from any coin premined for ANY stated reason, but that's just me.  Others may disagree, but usually because they too hold at least a few (probably more than a few) of the coins in question.

instamined - someone(s) ready to mine the coin very quickly after release

ultra instamined - someone(s) ready to mine the coin with a very high hasrate (large number of machines/GPUs when the coin is released

ultra instamined - See the 500 MH/s mining of LuckCoin from block 0-1k. Not a single working pool and a single miner crushing the network for 1000 blocks handing everyone else only orphans.
vonross2012
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May 25, 2013, 03:04:06 AM
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Awsome... Thanks...

I'm guessing pretty soon the new coins will have to change their strategy to make any money at a new coin.
There has been so many rip off coins in the last month it will get old and people will stop falling for it except
the real newbies.
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