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Author Topic: What does it mean exactly for a coin to be instamined and ultra instamined?  (Read 781 times)
vonross2012 (OP)
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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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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
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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 (OP)
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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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