Was WDC premined/instamined? (like phenixcoin and FTC)

[FiiNALiZE]

remember, all coins release at diff 0 always cause instamining, these coins are not grabbed by the dev, but by the guys having big hash power. There was no implementation of "accelerated diff adjusting" in WDC (1st time implemented in LKY that was released after WDC). So all the coins released at that time was instamined by the big hash powers. Nothing is strange there, just the life of alt coins.

It was totally deliberate, with aforesight, what would happen was well known, yet they went ahead with a scam anyway instead of an actual attempt to correct that known scam, so it was just another scam. Using the excuse that it was a time of scammers, an age when scammers walked the earth, the age of scams etc is just the usual scammer patter.

-MarkM-

Thank you for delineating this scam for me; I was about to get scammed by this scamcoin but I managed to scam myself out of getting scammed. If you are holding any of this scamcoin, please consider giving those scamcoins to me because the longer you hold onto those scamcoins, the more likely you are going to get scammed by an insidious scammer in the future.

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[krasnyoktyabr]

remember, all coins release at diff 0 always cause instamining, these coins are not grabbed by the dev, but by the guys having big hash power. There was no implementation of "accelerated diff adjusting" in WDC (1st time implemented in LKY that was released after WDC). So all the coins released at that time was instamined by the big hash powers. Nothing is strange there, just the life of alt coins.

It was totally deliberate, with aforesight, what would happen was well known, yet they went ahead with a scam anyway instead of an actual attempt to correct that known scam, so it was just another scam. Using the excuse that it was a time of scammers, an age when scammers walked the earth, the age of scams etc is just the usual scammer patter.

-MarkM-

You're joking right? They obviously tried to do something about it.

Feathercoin's instamine was 3 million coins, and it remains 25% of the total coins created. It took 18 days to match the coins created on feathercoin's first day.

Worldcoin's instamine was 445 thousand coins, and it remains 3% of the total coins created. It took 3 days to match the coins created during worldcoin's instamine.

There have been numerous implementations to remove the impact of the instamine, and as coins go, the WDC instamine was largely contained.

[markm]

Oh? What was the starting difficulty?

And don't pull the scammer patter about pretending to "fix" instamining/orphans by starting payouts being low, because the number of blocks such scammers make low payout is always calculated to take less than a day to spam out, usually a matter of hours or minutes or even seconds...

The fix is difficulty, not clever scammer tricks intended to avoid using that real fix because, well, scammers gotta make a buck too, y'know?

-MarkM-

[DeathAndTaxes]

remember, all coins release at diff 0 always cause instamining, these coins are not grabbed by the dev, but by the guys having big hash power. There was no implementation of "accelerated diff adjusting" in WDC (1st time implemented in LKY that was released after WDC). So all the coins released at that time was instamined by the big hash powers. Nothing is strange there, just the life of alt coins.

Come on you really can't see a solution to that problem, like I don't know ...
a) don't launch at difficulty zero
b) make the first xxx blocks (where xx is more than difficulty adjustment period) worth 0 coins.
c) a & b

I mean really?  You act like it is an unavoidable situation.  Bitcoin launched at a difficulty 1 and hashpower was so low the network ran at 1/3 proper speed for most of the first year.  Given Bitcoin was the first CC to pretend every subsequent coin has no way to avoid difficulty 0 is just stupid.  No offense but it is.  Either a) you already know this and are just trying to create a smoke screen or b) you are a pump & dump best friend.

[krasnyoktyabr]

Oh? What was the starting difficulty?

And don't pull the scammer patter about pretending to "fix" instamining/orphans by starting payouts being low, because the number of blocks such scammers make low payout is always calculated to take less than a day to spam out, usually a matter of hours or minutes or even seconds...

-MarkM-

There are other methods of reducing the impact without increasing the starting difficulty, as the numbers show. We're talking about 3 days worth of coins being produced in 1 day. That's noticeable, but can't you admit that it is a huge step forward from the feathercoin situation. We're talking about 3% on a coin that is 22 days old. After 40 more days, it will represent 1%. This is minimal, and those big miners you're worried about might have gotten a few hundred thousand coins. They got 3 times as many coins as they otherwise would have gotten...no big deal.

[dreamhouse]

This seems a joke to me. There are maybe some instamines in WDC, which one does not? WDC, together with DGC, are the two most fairly launched coins (BTW, though DGC claimed no premine, blockchain did show a small amount of the premine). Now people bush WDC, what is the point here?

What about Goldcoin which premined 7 mil? what about stablecoin 1.2 mil premine? what about alphacoin, premined 1mil? what about Argentum, premined 200K (a lot since each block generates only 2.5 coins)?

I won't even mention the huge preminea in FTC, CNC, YAC, YBC, etc, all are ridiculous.

Yet all the coins are successful in exchange.

Come on guys, be reasonable. If you hate these, then just leave, no one asked you to mine alt coins. If you are here and want to play with alt coins, then no need to complain about the good ones such as WDC or DGC. I'd be extremely happy if all altcoins are like them!

[DeathAndTaxes]

What about Goldcoin which premined 7 mil? what about stablecoin 1.2 mil premine? what about alphacoin, premined 1mil? what about Argentum, premined 200K (a lot since each block generates only 2.5 coins)?

I won't even mention the huge preminea in FTC, CNC, YAC, YBC, etc, all are ridiculous.

Ok they are worse, however the OP question is "was WDC premined?".  The answer is yes.  The fact that there are worse coins in this respect some laughably idioticly worse doesn't change that answer.

Yet all the coins are successful in exchange.

I wouldn't say that.  Combined they all alt-coins other than BTC & LTC have <1% of the total CC marketcap. http://coinmarketcap.com/ Not really "successful" and beyond the top 4 or 5 it goes down rapidly.    Sure they have some non-zero value in the same way that pennies stocks usually never go to zero despite having no real value.  No doubt some people will be able to dump them on the "greater fool" but I wouldn't say the market has rewarded those coins for being successful with massive market share gains.

[Lauda]

This seems a joke to me. There are maybe some instamines in WDC, which one does not? WDC, together with DGC, are the two most fairly launched coins (BTW, though DGC claimed no premine, blockchain did show a small amount of the premine). Now people bush WDC, what is the point here?

What about Goldcoin which premined 7 mil? what about stablecoin 1.2 mil premine? what about alphacoin, premined 1mil? what about Argentum, premined 200K (a lot since each block generates only 2.5 coins)?

I won't even mention the huge preminea in FTC, CNC, YAC, YBC, etc, all are ridiculous.

Yet all the coins are successful in exchange.

Come on guys, be reasonable. If you hate these, then just leave, no one asked you to mine alt coins. If you are here and want to play with alt coins, then no need to complain about the good ones such as WDC or DGC. I'd be extremely happy if all altcoins are like them!

So since other coins have been premined worse, it makes the WDC premine okay?  
Keep supporting scamcoins.

[monocolor]

Wait WDC premined? from the previous messages I saw only evidence that WDC was instamined, is it premined? can you tell me how much it is premined?

Instamine and premine are very different things. Instamine goes to those with big rigs, while premine goes to devs.

Also in this world you expect free lunches? I am ok with dev premine a little, that's for what they've done. But do we see that WDC premined at all?

[krasnyoktyabr]

Wait WDC premined? from the previous messages I saw only evidence that WDC was instamined, is it premined? can you tell me how much it is premined?

Instamine and premine are very different things. Instamine goes to those with big rigs, while premine goes to devs.

There were 6,464 coins mined 40 hours before the coin was released.

Honestly, that doesn't really count as a premine in my book, but in the strictest definition it is a premine. That had not yet been discussed yet in this thread.

[Disastrus]

aah.....ZTHE Resistance....

vive le revolution!!!
dickheads...it's getting too obvious now...

alot of people really know what was going on when it started, you guys just shoot blanks.

[jbmiller10]

(BTW, though DGC claimed no premine, blockchain did show a small amount of the premine).

This is not true. First DGC Block (excluding genesis block of 50 DGC) was mined at 09:57:27 AM(UTC), about a minute and a half after the client was launched at 09:55:53 AM (UTC)

[Lauda]

(BTW, though DGC claimed no premine, blockchain did show a small amount of the premine).

This is not true. First DGC Block (excluding genesis block of 50 DGC) was mined at 09:57:27 AM(UTC), about a minute and a half after the client was launched at 09:55:53 AM (UTC)

They are trying to switch the blaim over to other coins. If any other alt or shitcoin has been premined that doesn't make it okay for WDC to be premined aswell.

[justabitoftime]

Premined, scamcoin like other Unocs coins.

Scamcoins? I doubt any of the minor coins you support were mentioned at the NYC Bitcoin Conference. So the only real scam is the belief of endless babble about instamines on Bitcointalk makes ANY impact outside of this small segment.  I already addressed the nonsense claims made against Feathercoin here:

feathercoinmyths.com

I support alts in general. When any of us are able to break out into mainstream circles, it helps all of us.

[justabitoftime]

This seems a joke to me. There are maybe some instamines in WDC, which one does not? WDC, together with DGC, are the two most fairly launched coins (BTW, though DGC claimed no premine, blockchain did show a small amount of the premine). Now people bush WDC, what is the point here?

What about Goldcoin which premined 7 mil? what about stablecoin 1.2 mil premine? what about alphacoin, premined 1mil? what about Argentum, premined 200K (a lot since each block generates only 2.5 coins)?

I won't even mention the huge preminea in FTC, CNC, YAC, YBC, etc, all are ridiculous.

Yet all the coins are successful in exchange.

Come on guys, be reasonable. If you hate these, then just leave, no one asked you to mine alt coins. If you are here and want to play with alt coins, then no need to complain about the good ones such as WDC or DGC. I'd be extremely happy if all altcoins are like them!

So since other coins have been premined worse, it makes the WDC premine okay?  
Keep supporting scamcoins.

Keep using words like scamcoins and shitcoins.. that will certainly bring the right type of attention from outside investors. 

[justabitoftime]

This graph is extremely misleading because of the way the coin was released.

The coin was released on "Hour 45" after the genesis block was mined.

Hour 45: 64 minted
Hour 46: 25,024 minted <-- Instamine
Hour 47: 163,808 minted <-- Instamine
Hour 48: 71,744 minted <-- Instamine
_____________________ END DAY 2

Hour 49: 52,480 minted <-- Instamine
Hour 50: 40,736 minted <-- Instamine
Hour 51: 37,856 minted <-- Instamine
Hour 52: 27,680 minted <-- Instamine
Hour 53: 25,400 minted <-- Instamine

After that the difficulty catches up. The hourly currency creation rate for WDC should be about 7680 WDC per hour. http://cryptometer.org/worldcoin_96_hour_charts.html

Those 8 hours, from hour 46 to hour 53, about 445,000 WDC were minted, Which is 7 times as many coins as should have been created during that same period of time. It isn't as bad as FTC or MNC, but there definitely was an instamine when WDC hit the forums.

Nice work! A lot of people are set to lose everything if they do not know what they are investing in.

I would still say WDC was a fair release. Should have had higher start difficulty probably. Still a great start compared to many other ALT's some fairly popular alts had 90% of all coins generated in the first day. I would call 11% in first two days still pretty good. Any coin besides Bottlecaps start with a high difficulty to prevent the instamine?

Valid points. I still argue that this idea of instamine is somewhat creepy from a free market perspective.  I became a Feathercoin miner much later down the road and I was completely comfortable with the cost of my investment.  Those that got in earlier were able to take advantage of  the lower difficulty. Much of the success of life is being in the right place and the right time.  Believe me, endless comments from a couple guys in this thread about UNOCS will have absolutely 0 to do with real world integration.

I liked the higher difficulty release with Bottcaps personally, great job.

[pbassjunk]

Wasn't Goldcoin/GLD premined as well? (7 million coins i've read)

Digitalcoin/DGC wasn't premined or instamined afaik, probably contributing in part to it's popularity in the alt-coin poll.

[Lauda]

Premined, scamcoin like other Unocs coins.

Scamcoins? I doubt any of the minor coins you support were mentioned at the NYC Bitcoin Conference. So the only real scam is the belief of endless babble about instamines on Bitcointalk makes ANY impact outside of this small segment.  I already addressed the nonsense claims made against Feathercoin here:

feathercoinmyths.com

I support alts in general. When any of us are able to break out into mainstream circles, it helps all of us.

Since that conference matters to the average user, well even most of the community/miners, it's useless. Go out there ,hunt satoshi and ask for his opinion on the scamcoins.
Any minor coin that I support has not been premined and had an fair start, ty.

[gatra]

I started mining at the launch and all my blocks were orphaned. It was instamined. After diff adjustments, block kept coming at the same instamining rate, meaning that what was stopping the creation of blocks was not the difficulty, but the time it took the network to distribute the blocks. A small group with high hash rate and fast connections took all the blocks for the first hours, and there were more blocks per hour than what there were supposed to be.

[cosmoo]

it looks like dgc is going to overtake wdc at this rate