Stablecoin, heavily premined, 1.2+ million coins premined!!

[neonemu]

I'm not sure which was worse, the original post, or the fact I read this whole thread.

[usahero]

Thank you original poster for bringing this up.

The response from the dev was terrible, so I hope nobody will ever put any btc or mining power into this coin.


Thank you and good luck :p

[aa]

Thank you original poster for bringing this up.

The response from the dev was terrible, so I hope nobody will ever put any btc or mining power into this coin.


Thank you and good luck :p

Oh look, another idiotic reply from a brand new moronic sockpuppet account from the moronic OP.

[usahero]

Bitter p&d coin bag holder? Funny :=) Everyone loves bagholders

[dreamhouse]

Hello there,

my two cents:

The "premine" happend in the genesis block:

        const char* pszTimestamp = "June 7 2013, The Times, Prince Philip admitted to hospital for two weeks";
        CTransaction txNew;
        txNew.vin.resize(1);
        txNew.vout.resize(1);
        txNew.vin[0].scriptSig = CScript() << 486604799 << CBigNum(4) << vector<unsigned char>((const unsigned char*)pszTimestamp, (const unsigned char*)pszTimestamp + strlen(pszTimestamp));
        txNew.vout[0].nValue = 1250000 * COIN;
        txNew.vout[0].scriptPubKey = CScript() << ParseHex("0449D77B9B62E0DB1FD6150ECFC5722F31FEE52E585DE31B5AEFAD2CAC415D5698991F8F0B0CBBA 7B9F4431BBE79B684876EDFBD369554ACC4182753FA48A3CD80") << OP_CHECKSIG;
        CBlock block;
        block.vtx.push_back(txNew);
        block.hashPrevBlock = 0;
        block.hashMerkleRoot = block.BuildMerkleTree();
        block.nVersion = 1;
        block.nTime = 1370579804;
        block.nBits = 0x1e0fffff;
        block.nNonce = 2788;

Now there is a funny thing about this genesis block. The coins of the genesis block can not be spent! At least this is the case for bitcoin.

 - https://en.bitcoin.it/wiki/Genesis_block
 - http://bitcoin.stackexchange.com/questions/10009/why-cant-the-genesis-block-coinbase-be-spent
 - the first ever bitcoin address with the first ever 50 bitcoins (still there) http://blockexplorer.com/address/1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa

As Litecoin is a fork of Bitcoin and StableCoin is a fork of whichever coin which is a fork of Litecoin...

@FUDers and Dev: do your homework

lol, you don't think dev is that dumb, premined in the genesis block and can't spend it?

Look at the code, they added a force write of the genesis block into the transaction chain (end of the init.cpp - Satoshi did not write the genesis block into the transaction chain, that's why you can't spend it), and because this is a unchecked block, they disabled the validation check too. Not sure if this will make the coin very vulnerable for a fake blockchain attack. But anyway, the genesis block can be spent for sure for this coin, don't worry about it. 

[FrenchFriesKetchup]

well, those bastards. they really know what they are doing.

thanks for pointing this out

[frobley]

wow look people holding stablecoin arguing with people not holding stablecoin, weekends are so fun around here

[arlington]

Hello there,

my two cents:

The "premine" happend in the genesis block:

        const char* pszTimestamp = "June 7 2013, The Times, Prince Philip admitted to hospital for two weeks";
        CTransaction txNew;
        txNew.vin.resize(1);
        txNew.vout.resize(1);
        txNew.vin[0].scriptSig = CScript() << 486604799 << CBigNum(4) << vector<unsigned char>((const unsigned char*)pszTimestamp, (const unsigned char*)pszTimestamp + strlen(pszTimestamp));
        txNew.vout[0].nValue = 1250000 * COIN;
        txNew.vout[0].scriptPubKey = CScript() << ParseHex("0449D77B9B62E0DB1FD6150ECFC5722F31FEE52E585DE31B5AEFAD2CAC415D5698991F8F0B0CBBA 7B9F4431BBE79B684876EDFBD369554ACC4182753FA48A3CD80") << OP_CHECKSIG;
        CBlock block;
        block.vtx.push_back(txNew);
        block.hashPrevBlock = 0;
        block.hashMerkleRoot = block.BuildMerkleTree();
        block.nVersion = 1;
        block.nTime = 1370579804;
        block.nBits = 0x1e0fffff;
        block.nNonce = 2788;

Now there is a funny thing about this genesis block. The coins of the genesis block can not be spent! At least this is the case for bitcoin.

 - https://en.bitcoin.it/wiki/Genesis_block
 - http://bitcoin.stackexchange.com/questions/10009/why-cant-the-genesis-block-coinbase-be-spent
 - the first ever bitcoin address with the first ever 50 bitcoins (still there) http://blockexplorer.com/address/1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa

As Litecoin is a fork of Bitcoin and StableCoin is a fork of whichever coin which is a fork of Litecoin...

@FUDers and Dev: do your homework

lol, you don't think dev is that dumb, premined in the genesis block and can't spend it?

Look at the code, they added a force write of the genesis block into the transaction chain (end of the init.cpp - Satoshi did not write the genesis block into the transaction chain, that's why you can't spend it), and because this is a unchecked block, they disabled the validation check too. Not sure if this will make the coin very vulnerable for a fake blockchain attack. But anyway, the genesis block can be spent for sure for this coin, don't worry about it. 

Dreamhouse, thanks for the info.

[FiiNALiZE]

lol can we all just let this thread die?

The original intention of this thread is clearly to FUD SBC.

[The_Catman]

Thank, thank you all. This was a wonderful performance, best laughs all week!

I wonder what you'll think up next.

[picasso]

Thank, thank you all. This was a wonderful performance, best laughs all week!

I wonder what you'll think up next.

relax time, lol

[number37]

it is a joke

[sana8410]

Nobody seems to understand that nobody is forceing anyone to use this coin.  Sweet fucking jesus..

Nobody is forcing but nobody said about the premine. Thats the same as cheating.

[brambi]

Nobody seems to understand that nobody is forceing anyone to use this coin.  Sweet fucking jesus..

Nobody is forcing but nobody said about the premine. Thats the same as cheating.

Read Stablecoin ann post u idiot.

[number37]

yes yes, after some big paragraphs in the announcement, it said "An amount (0.5% of total coins) has been created by us to act as the basis of" some non-exist service. It did not say premine, it did not say 1.25 million coins. It then give an innocent "fair launch" like this:

Block 0-90        0 coins
Block 90-180     1 coins
Block 180-270   2 coins
Block 270-360   3 coins
Block 360-450   6 coins
Block 450-540   8 coins
Block 540-630   12 coins
Block 630-720   15 coins
Block 720-810   18 coins
Block 810-900   22 coins
Block 900+       25 coins

Clearly, it tries to hide the 1.25 million premine, most people would not read the big paragraphs in details to fish out the seemingly small 0.5% means, especially with Block 0-90 0 coins (this is a cheating as the genesis block that contains 1.25 million premine is the block 0), and gradual ramping up coins per block make many people think this is a fair coin with no premine.

Now everyone understands what the dev actually did.  

[sana8410]

yes yes, after some big paragraphs in the announcement, it said "An amount (0.5% of total coins) has been created by us to act as the basis of" some non-exist service. It did not say premine, it did not say 1.25 million coins. It then give an innocent "fair launch" like this:

Block 0-90        0 coins
Block 90-180     1 coins
Block 180-270   2 coins
Block 270-360   3 coins
Block 360-450   6 coins
Block 450-540   8 coins
Block 540-630   12 coins
Block 630-720   15 coins
Block 720-810   18 coins
Block 810-900   22 coins
Block 900+       25 coins

Clearly, it tries to hide the 1.25 million premine, most people would not read the big paragraphs in details to fish out the seemingly small 0.5% means, especially with Block 0-90 0 coins (this is a cheating as the genesis block that contains 1.25 million premine is the block 0), and gradual ramping up coins per block make many people think this is a fair coin with no premine.

Now everyone understands what the dev actually did.  

+1 Thanks for informing us.

[jeannie]

what is the difficulty of Stablecoin?  Is there any place to see?

[sana8410]

Nobody seems to understand that nobody is forceing anyone to use this coin.  Sweet fucking jesus..

Nobody is forcing but nobody said about the premine. Thats the same as cheating.

Read Stablecoin ann post u idiot.

You faggot are you strying to scam us?

Another alts of the dev spotted. Created June 3.

[brambi]

Nobody seems to understand that nobody is forceing anyone to use this coin.  Sweet fucking jesus..

Nobody is forcing but nobody said about the premine. Thats the same as cheating.

Read Stablecoin ann post u idiot.

You faggot are you strying to scam us?

Another alts of the dev spotted. Created June 3.

Poor kid, I am really sorry for you. I am not going to go that low and argue with idiot. U may take me down to your level and beat with experience.

[R-T-B]

Thank you original poster for bringing this up.

The response from the dev was terrible, so I hope nobody will ever put any btc or mining power into this coin.


Thank you and good luck :p

Do you even know who the dev is?  To my knowledge, having a StableCoin logo as your avatar does not instamake you a dev.  Now, I have not read this whole post yet, but I have yet to see one post form Artos (the dev), unless I missed something...

By the way, I mined this coin for one hour for fun, I have more faith in Litecoin and have hardly any holdings in it.  I am NOT bought out or having a vested interest in this coin, but really, if you can't math or read announcement posts, you need to stop mining all coins NOW, before you get robbed bigtime.

EDIT:  Yep, just did a look over, dev never posted here, or any alts of his for that matter (why post as an alt when he isn't even posting as himself?  lol).  Can't say the same for the other retardation going on, not really sure wtf that is, but if I was a dev I wouldn't justify this with a post either.