[XPM] The gold standard no premine

[jubalix]

Satoshi, sat their by himself for ages mining, all credit to him.

Almost every coin that followed has a premine for bounties or for the creators, in some form

Sunny King has set the bar with XPM for no premine, to the extent he is going round having to buy XPM.

With the small caveat of optimization in the early stages, XPM by a clear prospective announcement, followed through with a new mechanisim/hash,

XPM is GOLD STANDARD for no premine of any sort.

Yet another bow for XPM and why it is going ++

Edit::Sunny also refuses donations for his work

[vingaard]

+1

[r3wt]

you just>>  >>sunny's butt

[kelsey]

Satoshi, sat their by himself for ages mining, all credit to him.

Almost every coin that followed has a premine for bounties or for the creators, in some form

Sunny King has set the bar with XPM for no premine, to the extent he is going round having to buy XPM.

With the small caveat of optimization in the early stages, XPM by a clear prospective announcement, followed through with a new mechanisim/hash,

XPM is GOLD STANDARD for no premine of any sort.

Yet another bow for XPM and why it is going ++

Well firstly I do think the start of primecoin was one of the best, abled to be mined by many, even with limited computer power, for many days.
Right up until its started being gamed, which kinda spoilt the party for most (though that part wasn't sunny's fault).

Lot of flaming in the forum for any coin that even suggests premine. So you can see the loudest mouth on here are those with big mining rigs that want it all. When they scream premine ....what they are really crying is "i missed my big cut"

I have no doubt as a person with limited mining resources that the coins on, here that premine have on the most part been the fairest to all, with giveaways for those who have limited mining resources.

Satoshi only adopted the mining, as at the time no bot controlled supply/demand models seemed to workout. Post bitcoin beta I'm convienced the mining method to control supply isn't ideal.

[jubalix]

you just>>  >>sunny's butt

nope.jpg, just gave credit where credit is due.

[mastadonballs]

I agree, XPM is definitely a game changer that took advantage of the mining process to produce relevant information for our society, but I didn't like your recognition statement.  *wish it would have been more elegant*.

at least i'm being honest. 

sorry for being a dick, but really i'm not.

[mercSuey]

So here is the precedent.  XPM's price gets cut damn near in half from its peak in the last 12 hours, and then out come the defenders of righteousness.  Really honorable of you. 

[Lauda]

So here is the precedent.  XPM's price gets cut damn near in half from its peak in the last 12 hours, and then out come the defenders of righteousness.  Really honorable of you. 

Wait untill you start earning 2 XPM per block, you will enjoy the overtaking of any coin price 

[Lauda]

So here is the precedent.  XPM's price gets cut damn near in half from its peak in the last 12 hours, and then out come the defenders of righteousness.  Really honorable of you.  

Wait untill you start earning 2 XPM per block, you will enjoy the overtaking of any coin price  

Any projection on when is that supposed to happen? Year 2020? Seriously, is there any calculation for hashrate required to hit 2 XPM per block?

10^19 times this current hashrate according to some trollz that might not be that off.
Around ~22 diff needed for that.
Maybe if i fire up all supercomputers in the world, who knows 

[alexxy]

So here is the precedent.  XPM's price gets cut damn near in half from its peak in the last 12 hours, and then out come the defenders of righteousness.  Really honorable of you.  

Wait untill you start earning 2 XPM per block, you will enjoy the overtaking of any coin price  

To get 2 XPM per block you need difficulty ~22.4 (since reward = 999/(diff^2))  so net power should be 30^(22.4-9) ~ 10^19 times more then now

[h2odysee]

Having an optimized miner, while everyone else has a slow reference implementation is no different from a premine.

That said, it's cool to see innovation like the prime number thing, and it's fine by me if the developer gets some money out of it.

[Carra23]

It has been one of the fairer launches. I got a few blocks too with my CPU. The optimizations meant that people with skills got the benefit first.

To play devil's advocate though, maybe Sunny was mining away with an optimized miner from start, which doesn't make it much different from a premine. Actually, its worse than an announced premine. But then, he developed this innovative currency, so maybe he deserves a head start.

Bottom line, you can always argue for and against almost any Cryptocoin out there. The reason I think its pointless to worry about it.

[AgentME]

Having an optimized miner, while everyone else has a slow reference implementation is no different from a premine.

How is that the same at all? A premine would go straight to the developer. People who optimize their miner get what they mine, just the same way as if they had a faster machine to begin with.

[Lauda]

Having an optimized miner, while everyone else has a slow reference implementation is no different from a premine.

How is that the same at all? A premine would go straight to the developer. People who optimize their miner get what they mine, just the same way as if they had a faster machine to begin with.

He's just mad that he didn't get in on time. People who optimize their miners with the right settings get more hashrate on any coin, is that no different from a premine too? 

[TheSwede75]

Satoshi, sat their by himself for ages mining, all credit to him.

Almost every coin that followed has a premine for bounties or for the creators, in some form

Sunny King has set the bar with XPM for no premine, to the extent he is going round having to buy XPM.

With the small caveat of optimization in the early stages, XPM by a clear prospective announcement, followed through with a new mechanisim/hash,

XPM is GOLD STANDARD for no premine of any sort.

Yet another bow for XPM and why it is going ++

Naive statement. Once people start investigating the block chain, GPU mining takes off etc. XPM will seem "as premined" as BTC in light of few early miners on CPU farms pushing 2.000.000 pps at it at relatively low diff.

The crypto landscape has changed vastly since BTC was introduced. Bitcoin wasn't 'pre mined' by today's standards, there just wasn't the same interest. satoshi released everything needed for mining bitcoin faster them most devs of any coin has since, the community just wasn't there back in the day and he HAD to keep mining it almost alone to keep the block chain alive.

[tacotime]

[skull88]

If I remember it correct Coblee did the same with releasing Litecoin.
Comparing it to Satoshi isn't fair because Satoshi just couldn't do anything else, Bitcoin would be dead if he didn't mine it by himself.

But I got to say, start to become more and more positive about this coin, so I don't mean anything bad with it, it was a release like a release got to be. The fairest possible.

[Hydroponica]

So, how many of you got rich off PrimeCoin, while the Dev had to run around and buy his own coin off you? How many exchanges and pools are collecting fees off PrimeCoin, while the Dev received fuck all for his efforts?
Yep, sounds right to me

[Lauda]

So, how many of you got rich off PrimeCoin, while the Dev had to run around and buy his own coin off you? How many exchanges and pools are collecting fees off PrimeCoin, while the Dev received fuck all for his efforts?
Yep, sounds right to me

I seem to see only 1 person selling the same story on cryptsy.. yeah go on

[AgentME]

So, how many of you got rich off PrimeCoin, while the Dev had to run around and buy his own coin off you? How many exchanges and pools are collecting fees off PrimeCoin, while the Dev received fuck all for his efforts?
Yep, sounds right to me

The dev was probably mining just like us too. Is he not allowed to participate in the market by buying more if he wants? And why isn't it natural that services like exchanges make money off of fees?