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[iGotSpots]

Max coin cap = 31,000,000 mined over the next 500 years,
1 million sit's in the foundation wallet from the start and can be seen here (odYLBLUg6xtR8jvKus3NyzhFERwKTtTCLi)
 
Before you call pre-mine you should note that this also adds to the security of the coin, meaning in the early stages nobody could mine/buy the amount of coins needed to even try and 51% attack this master peace,,

I don't even know where to start correcting you here...let's start with, it's masterpiece, and also http://learncryptography.com/51-attack/

51% attack does not mean you own 51% of the coins lol but nice try to smooth talk your premine

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[pr9me]

I don't even know where to start correcting you here...

Thanks, I'm on the Orbitcoin team, but I did not author the original ANN. I copied, formatted, and corrected it, and missed some things obviously...

As far as the inquiries of a pre-mine, you will have to submit those questions to the coin dev. I haven't seen a single ORB of the so called pre-mine. From what I know it's for development of the coin...

This is my take on the pre-mine hot topic: People's time ain't cheap! You guys want coins with good services? Who is going to pay for the labor to get those services up and running? You expect devs to work for free? If the pre-mine is spent for the betterment of the coin, I have no issue with it.

[cryptohunter]

YUCK at the block reward, block time, and the 1 million premine -


NAH

[Charles999]

1,000,000 premine..  so that's like 4,000,000 blocks premined since it's only .25 coins per block.

oh yeah this is a great coin to mine.  Let me throw my 20Mhs at this baby!!

INGENIUS IDEA!!

[cryptohunter]

1,000,000 premine..  so that's like 4,000,000 blocks premined since it's only .25 coins per block.

oh yeah this is a great coin to mine.  Let me throw my 20Mhs at this baby!!

INGENIUS IDEA!!

Yeah, but the sweetner is we will need to mine far more than 4,000,000 blocks since the reward halves each year lol

in 14 years all the miners together will have mined half of what the premine is ....


wtf are we all waiting for.....let's get cracking.

Welcome to the most insane premine of all time.

[Charles999]

"Pools
(Coming Soon!)
First pool coming thanks to Ahmedbodi!"

Uh if you were smart, you'd skip making a pool for this coin unless they paid you 100,000 coins to make it.

This one will fly by quite fast.. in today.. out today..

[pr9me]

Update

Crypto-Experts ORB Pool is now running! Thanks Ahmedbodi!

[Petr1fied]

Edit 2: The faucet's captcha doesn't seem to work at all.

I set up the faucet (Harbinger is my cryptsy username) on request of the developer and he said he'd deposit some funds there later to kick start it.

It's nothing to do with the capcha, until there are actually some funds in the account the faucet is disabled (it can't give away what it doesn't have). That's why the text box and submit button are greyed out.

It will automatically open once there are some cleared funds in the account and allow address entry only when there is enough coin to cover at least the next batch.

As I don't mine myself anymore I cannot possibly fund it myself, only those with coin can possibly fund it.

[2Kool4Skewl]

1,000,000 premine..  so that's like 4,000,000 blocks premined since it's only .25 coins per block.

oh yeah this is a great coin to mine.  Let me throw my 20Mhs at this baby!!

INGENIUS IDEA!!

Yeah, but the sweetner is we will need to mine far more than 4,000,000 blocks since the reward halves each year lol

in 14 years all the miners together will have mined half of what the premine is ....


wtf are we all waiting for.....let's get cracking.

Welcome to the most insane premine of all time.

Yo dawg, I herd you like premine, so I put a premine in your premine so you can premine while you premine

[claycoins]

1,000,000 premine..  so that's like 4,000,000 blocks premined since it's only .25 coins per block.

oh yeah this is a great coin to mine.  Let me throw my 20Mhs at this baby!!

INGENIUS IDEA!!

But, but its going to be the official currency of the moon let me get my spaceship ready.

[Magic8Ball]

Yeah, but the sweetner is we will need to mine far more than 4,000,000 blocks since the reward halves each year lol

in 14 years all the miners together will have mined half of what the premine is ....


wtf are we all waiting for.....let's get cracking.

Welcome to the most insane premine of all time.

Surely, this can not be right?

If it is, then I will just wait for giveaways from that mega premine.

[xiangbing]

oJnCVGYKjnQHVQnQZPJ6mYb8x8MGKXJHbs

[iGotSpots]

I don't even know where to start correcting you here...

Thanks, I'm on the Orbitcoin team, but I did not author the original ANN. I copied, formatted, and corrected it, and missed some things obviously...

As far as the inquiries of a pre-mine, you will have to submit those questions to the coin dev. I haven't seen a single ORB of the so called pre-mine. From what I know it's for development of the coin...

This is my take on the pre-mine hot topic: People's time ain't cheap! You guys want coins with good services? Who is going to pay for the labor to get those services up and running? You expect devs to work for free? If the pre-mine is spent for the betterment of the coin, I have no issue with it.

Simply not true, especially not at 3% of the total. Especially not with the math of how the other coins will come. I don't like being a hater on new coins, but....

[xiangbing]

why  so  many  coins    supply

{
"version" : "v1.0.0.0-orb",
"protocolversion" : 60006,
"walletversion" : 60000,
"balance" : 0.00000000,
"newmint" : 0.00000000,
"stake" : 0.00000000,
"blocks" : 1589,
"moneysupply" : 1000394.75000000,
"connections" : 9,
"proxy" : "",
"ip" : "116.28.178.96",
"difficulty" : 0.27911226,
"testnet" : false,
"keypoololdest" : 1375311797,
"keypoolsize" : 101,
"paytxfee" : 0.00000000,
"errors" : ""
}

[Buratino]

why  so  many  coins    supply

{
"version" : "v1.0.0.0-orb",
"protocolversion" : 60006,
"walletversion" : 60000,
"balance" : 0.00000000,
"newmint" : 0.00000000,
"stake" : 0.00000000,
"blocks" : 1589,
"moneysupply" : 1000394.75000000,
"connections" : 9,
"proxy" : "",
"ip" : "116.28.178.96",
"difficulty" : 0.27911226,
"testnet" : false,
"keypoololdest" : 1375311797,
"keypoolsize" : 101,
"paytxfee" : 0.00000000,
"errors" : ""
}

1 million sit's in the foundation wallet from the start and can be seen here (odYLBLUg6xtR8jvKus3NyzhFERwKTtTCLi)
 
Before you call pre-mine you should note that this also adds to the security of the coin, meaning in the early stages nobody could mine/buy the amount of coins needed to even try and 51% attack this masterpiece.

[kelsey]

This is my take on the pre-mine hot topic: People's time ain't cheap! You guys want coins with good services?

Yet todate I haven't seen a single alt coin with "good services" or benefit or anything other then earlier adaptors benefiting on price increases. I'm not against premines, but lets call it was it is, its not like alts dev are doing much in the way of moving alternative currencies (to fiat) in any meaningful direction.

[xorxor]

1'525'600 total coins ever mined in next 500 years to come.
1'000'000 premine [10 blocks of 100'000]
 525'600 for miners

Code:

int64 nSubsidy = 0.25 * COIN;   //0.25 block reward

	if(nHeight < 11)	 //10 blocks of premine
	{
		nSubsidy = 100000 * COIN;  //1000000 coins premine
	}

	nSubsidy >>= (nHeight / 1051200);  //reducing reward 2 times every year.
    
    return nSubsidy + nFees;

can you tell me how would you get 5'000'000 intio your fundation?

[bcp19]

1,000,000 premine..  so that's like 4,000,000 blocks premined since it's only .25 coins per block.

oh yeah this is a great coin to mine.  Let me throw my 20Mhs at this baby!!

INGENIUS IDEA!!

Yeah, but the sweetner is we will need to mine far more than 4,000,000 blocks since the reward halves each year lol

in 14 years all the miners together will have mined half of what the premine is ....


wtf are we all waiting for.....let's get cracking.

Welcome to the most insane premine of all time.

What's worse, they claim to be a 500 year coin.  30,000,000/500=60,000 per year/365=164 per day/2880 = .057 per block IF THERE WAS NO HALVING.  Starting with .25 per block, after 1 year .125, 2 years, .0625, 3 years .03125... already unsustainable.  262800 (total year 1) + 131400 (total year 2) + 65700 (total year 3) + 32850*497 = 16,786,350.

Heck, let's be crazy!  Let's keep the block rate for FIFTY YEARS!!!!! .25 per block for 50 years!  13,140,000 + 6,570,000 + 3,285,000 + 1,642,500 + 821,250 + 410,625 = 25,869,375
Damn, I thought I had it.

Ok, let's work this backwards!!! .00000001 is the smallest possible block reward, right?  let's double it, and again and again and.....wait.  After 30 years I'm at 5.36870912 block reward.  That can't be right!  15,461.8822656 coins per day * 365 = 5,643,587 coins... after 30 years that's be 11 million coins.  31 years would be 22 million, 32 years... 44 million... oops.

Well, thank god you don't have to know math to put out a clone coin!

[frobley]

1,000,000 premine..  so that's like 4,000,000 blocks premined since it's only .25 coins per block.

oh yeah this is a great coin to mine.  Let me throw my 20Mhs at this baby!!

INGENIUS IDEA!!

is 4 meewion blocks a record?
I only now mine record breaking premined coins

[pr9me]

From the dev...

It's not set to stop mining after 500 years lol...

Mined over the next 500 years, we judge this based on future mining rigs, it could in fact take much longer if theirs no advancements in the field.