Don't be a hypocrite

[DeathAndTaxes]

he only mined 500,000 prior to launch.

The above is a fan fiction.  It should not be confused with reality.

[Buffer Overflow]

initially he only mined 500,000 prior to launch.

Where's this false rumour sprung up from now? Who starts this rubbish?

[r3wt]

he only mined 500,000 prior to launch.

The above is a fan fiction.  It should not be confused with reality.

then how much did he really premine, if any?

[DeathAndTaxes]

he only mined 500,000 prior to launch.

The above is a fan fiction.  It should not be confused with reality.

then how much did he really premine, if any?

0.  The genesis block has the quote proving the date and the dates of public code release and blockchain timestamps support that.  In the first year Bitcoin wasn't very popular.  More people "could" have mined it most simply didn't.  Satoshi got a lot of flak about his system being unworkable in the early days.  Many who knew likely didn't mine because it seemed stupid.  BTW Hal Finney IIRC reports mining one of the very early blocks (like #200? correction it was around block 70 seem below).

I mined block 70-something

Say I launch an alt-coin today. Full source code, compiled binaries, no premine (even genesis block unspendable), high starting difficulty so early blocks take LONGER (about 20-30 minutes per block due to low hashing power).   Now say most people ignore it because they think the idea is stupid and can't work. If it became popular a year later would you accuse me of "premining" it because others couldn't be bothered to download the client and try it?

The claims of a pre-mine are never supported.  They are just slander to provide moral equivalence for those that do.

[defaced]

he only mined 500,000 prior to launch.

The above is a fan fiction.  It should not be confused with reality.

then how much did he really premine, if any?

0.  The genesis block has the quote proving the date and the dates of public code release and blockchain timestamps support that.  In the first year Bitcoin wasn't very popular.  More people "could" have mined it most simply didn't.  Satoshi got a lot of flak about his system being unworkable in the early days.  Many who knew likely didn't mine because it seemed stupid.  BTW Hal Finney IIRC reports mining one of the very early blocks (like #200?).

Say I launch an alt-coin today. Full source code, compiled binaries, no premine (even genesis block unspendable), high starting difficulty so early blocks take LONGER (about 20-30 minutes per block due to low hashing power).   Now say most people ignore it because they think the idea is stupid and can't work.  Now if it became popular a year later would you accuse me of "premining" the coin?

The claims of a pre-mine are never supported.  They are just slander to provide moral equivalence for those that do.

This.


Bitcoin wasnt premined. The blockchain is public.

[millsdmb]

And perhaps consider not buying hypocrite coins either.


What am I talking about?


Well, I have read lots of slander going on, on these forums about premined coins,
but the people who are slandering the 'premined' coins also support and buy and sell bitcoins.

Bitcoins are a premine.

Therefore anyone who buys and sells and supports bitcoins, and goes around slandering coins with premine, is a hypocrite.

And I want you to consider not buying hypocrite coins then ok.


Good day.

If you write a new code from scratch, feel free to premine it

and hope it turns into a bitcoin, or your premine is worth nothing.

[Buffer Overflow]

OP seems to of gone very quiet. 

[Lethn]

Some people have lives and timezones to deal with you know

[Buffer Overflow]

Some people have lives and timezones to deal with you know

This is true of course.

Also don't forget, OP being shot down in flames, I can't imagine he has much to say.

[overseer470]

"oh no, someone has some coins and i don't, boohoo"

[jackjack]

What the hell is going on here?
Can I play too?

I have proofs that Satoshi premined 5 millions of BTC
Some even say he premined 10.4 millions but they don't have proofs

[21stcenturymoney]

Bitcoins are a premine.

Don't be a liar.

[21stcenturymoney]

Satoshi pre-mined a million coins before he/she released Bitcoin and the people who go after pre-mined coins completely ignore that fact.

I would say the fact gets ignored because it is false.

[Lethn]

lol I've crossed out the fact so people stop commenting on me saying that

[Loki8]

Everybody knows  Satoshi (pre)mined millions btc but it's his  business, he invented something like Bill Gates with Microsoft, Steve Jobs with Apple or Mark Zuckerberg with Facebook.

Satoshi is now multi-Millionaire and I pretty sure that he doesn't care about bitcoin anymore...

[jackjack]

I pretty sure that he doesn't care about bitcoin anymore...

Yeah, surely

[jackjack]

And perhaps consider not buying hypocrite coins either.


What am I talking about?


Well, I have read lots of slander going on, on these forums about premined coins,
but the people who are slandering the 'premined' coins also support and buy and sell bitcoins.

Bitcoins are a premine.

Therefore anyone who buys and sells and supports bitcoins, and goes around slandering coins with premine, is a hypocrite.

And I want you to consider not buying hypocrite coins then ok.


Good day.

First, Bitcoin was not premined. The only block that was mined before release was the genesis block, and those coins are unspendable. Just because there wasn't a million profit chasers with GPU farms ready to jump on it doesn't mean it was premined.

Just to let you guys know what an idiot the OP is, you should know he posted a Bitcoin mainnet address on a testnet giveaway. I know this because those are the only people in my ignore list.

OP is indeed a pretty stupid person. Check his posts.

[DeathAndTaxes]

Everybody knows  Satoshi (pre)mined millions btc but it's his  business, he invented something like Bill Gates with Microsoft, Steve Jobs with Apple or Mark Zuckerberg with Facebook.

Still false even though I liked how you try to spin it as good thing. 

[Loki8]

Everybody knows  Satoshi (pre)mined millions btc but it's his  business, he invented something like Bill Gates with Microsoft, Steve Jobs with Apple or Mark Zuckerberg with Facebook.

Still false even though I liked how you try to spin it as good thing. 

Satoshi mined  more than 1M BTC or 100M USD at current change from 1/3/2009 to 1/25/2010 (block 0 to block 36288). This assumption is based on the Total Network Strength
(Mhash/s) that was constant at 7 Mhash/s for this period of time.

https://spreadsheets.google.com/spreadsheet/pub?hl=en&key=0AmcTCtjBoRWUdHVRMHpqWUJValI1RlZiaEtCT1RrQmc&hl=en&gid=0

[DeathAndTaxes]

Everybody knows  Satoshi (pre)mined millions btc but it's his  business, he invented something like Bill Gates with Microsoft, Steve Jobs with Apple or Mark Zuckerberg with Facebook.

Still false even though I liked how you try to spin it as good thing.  

Satoshi mined  more than 1M BTC or 100M USD at current change from 1/3/2009 to 1/25/2010 (block 0 to block 36288). This assumption is based on the Total Network Strength
(Mhash/s) that was constant at 7 Mhash/s for this period of time.

https://spreadsheets.google.com/spreadsheet/pub?hl=en&key=0AmcTCtjBoRWUdHVRMHpqWUJValI1RlZiaEtCT1RrQmc&hl=en&gid=0

Which isn't a premine.  The topic wasn't "is it ok for developers to mine their own coin after launch"  if it was then Satoshi post launch activities might be relevent.  Still you knew it wasn't a premine yet included the (pre) anyways.  It is false anyway you try to spin it.