Bitcoin Forum
June 21, 2024, 10:41:05 AM *
News: Voting for pizza day contest
 
   Home   Help Search Login Register More  
Pages: « 1 2 3 4 5 [6] 7 8 »  All
  Print  
Author Topic: Stablecoin, heavily premined, 1.2+ million coins premined!!  (Read 6034 times)
neonemu
Newbie
*
Offline Offline

Activity: 36
Merit: 0


View Profile
June 15, 2013, 09:53:47 PM
 #101

I'm not sure which was worse, the original post, or the fact I read this whole thread.
usahero
Sr. Member
****
Offline Offline

Activity: 434
Merit: 250


View Profile
June 15, 2013, 09:56:21 PM
 #102

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
Hero Member
*****
Offline Offline

Activity: 544
Merit: 500


Litecoin is right coin


View Profile WWW
June 15, 2013, 10:34:25 PM
 #103

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
Sr. Member
****
Offline Offline

Activity: 434
Merit: 250


View Profile
June 15, 2013, 10:47:26 PM
 #104

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

dreamhouse
Hero Member
*****
Offline Offline

Activity: 1073
Merit: 666



View Profile
June 15, 2013, 11:06:44 PM
 #105

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.  Grin
FrenchFriesKetchup
Newbie
*
Offline Offline

Activity: 57
Merit: 0


View Profile
June 15, 2013, 11:13:59 PM
 #106

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

thanks for pointing this out
frobley
Hero Member
*****
Offline Offline

Activity: 708
Merit: 500


View Profile
June 15, 2013, 11:33:47 PM
 #107

wow look people holding stablecoin arguing with people not holding stablecoin, weekends are so fun around here
arlington
Sr. Member
****
Offline Offline

Activity: 476
Merit: 250


View Profile
June 16, 2013, 03:46:57 AM
 #108

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.  Grin

Dreamhouse, thanks for the info.
FiiNALiZE
Hero Member
*****
Offline Offline

Activity: 868
Merit: 500

CryptoTalk.Org - Get Paid for every Post!


View Profile
June 16, 2013, 03:49:55 AM
 #109

lol can we all just let this thread die?

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


 
                                . ██████████.
                              .████████████████.
                           .██████████████████████.
                        -█████████████████████████████
                     .██████████████████████████████████.
                  -█████████████████████████████████████████
               -███████████████████████████████████████████████
           .-█████████████████████████████████████████████████████.
        .████████████████████████████████████████████████████████████
       .██████████████████████████████████████████████████████████████.
       .██████████████████████████████████████████████████████████████.
       ..████████████████████████████████████████████████████████████..
       .   .██████████████████████████████████████████████████████.
       .      .████████████████████████████████████████████████.

       .       .██████████████████████████████████████████████
       .    ██████████████████████████████████████████████████████
       .█████████████████████████████████████████████████████████████.
        .███████████████████████████████████████████████████████████
           .█████████████████████████████████████████████████████
              .████████████████████████████████████████████████
                   ████████████████████████████████████████
                      ██████████████████████████████████
                          ██████████████████████████
                             ████████████████████
                               ████████████████
                                   █████████
.CryptoTalk.org.|.MAKE POSTS AND EARN BTC!.🏆
The_Catman
Full Member
***
Offline Offline

Activity: 168
Merit: 100


Captain Jack Fenderson


View Profile WWW
June 16, 2013, 04:22:33 AM
 #110

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

I wonder what you'll think up next.

picasso
Member
**
Offline Offline

Activity: 87
Merit: 10



View Profile
June 16, 2013, 05:13:29 AM
 #111

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 (OP)
Sr. Member
****
Offline Offline

Activity: 658
Merit: 250



View Profile
June 16, 2013, 07:09:05 AM
 #112

it is a joke
sana8410
Sr. Member
****
Offline Offline

Activity: 448
Merit: 250



View Profile
June 16, 2013, 07:49:47 AM
 #113

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.

RENT MY SIG FOR A DAY
brambi
Newbie
*
Offline Offline

Activity: 42
Merit: 0



View Profile
June 16, 2013, 07:51:24 AM
 #114

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 (OP)
Sr. Member
****
Offline Offline

Activity: 658
Merit: 250



View Profile
June 16, 2013, 08:02:37 AM
 #115

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:

Quote
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.  Grin

sana8410
Sr. Member
****
Offline Offline

Activity: 448
Merit: 250



View Profile
June 16, 2013, 08:06:48 AM
 #116

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:

Quote
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.  Grin



+1 Thanks for informing us.

RENT MY SIG FOR A DAY
jeannie
Member
**
Offline Offline

Activity: 98
Merit: 10



View Profile
June 16, 2013, 08:07:48 AM
 #117

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

sana8410
Sr. Member
****
Offline Offline

Activity: 448
Merit: 250



View Profile
June 16, 2013, 08:08:45 AM
 #118

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.

RENT MY SIG FOR A DAY
brambi
Newbie
*
Offline Offline

Activity: 42
Merit: 0



View Profile
June 16, 2013, 08:49:26 AM
 #119

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
Full Member
***
Offline Offline

Activity: 145
Merit: 100


View Profile
June 16, 2013, 09:00:34 AM
 #120

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.
Pages: « 1 2 3 4 5 [6] 7 8 »  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!