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Author Topic: [ANN] BITTUBE | NOW LIVE | NO PREMINE | NO ICO | FIRST AIRTIME MEDIA PLAYER  (Read 74342 times)
yahoobingo
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February 12, 2018, 03:46:35 PM
Last edit: February 12, 2018, 04:03:42 PM by yahoobingo
 #321

Chinese translation has posted:https://bitcointalk.org/index.php?topic=2934175 ,enjoy it!
my wallet address:bxdqybHVy4xbi4MdqXhPnibEM429ejty8L2m33ffTnZ1dr4ryEPWAHGW599tAJqnmWGxNznnSCLzXUL dkFBDJuKs1gfdQ1skJ
Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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greml
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February 12, 2018, 04:31:33 PM
 #322

This project looks great.
Having a working product already is a huge plus.
But the site needs a much better design.
cryptonomicon25
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February 12, 2018, 04:54:53 PM
 #323

10k reward in first unknown number of blocks which gives early miners so many coins. which is unfair as they also had lowdifficulty to start with

~16.360.000 IPBC were premined aka first 1636 blocks were 10.000 IPBC each aka "// Sorry. My bad."

Yeah...no. Early miners got a higher reward than they should have for less than 24 hours because of an initial error in the coin config. That's not a premine. The extra rewards were spread among all of the early miners, a premine goes right into the Devs' wallets. Big difference.

We all get that you weren't one of those early miners and that you're bitter about it, but stop with the trolling and FUD.



this is not trolling nor fud. I have been mining. In first few pages. dev said the 10k blocks that pool mined were a 'bug' and those pools need to update. And yet, they continue on the same chain which dev said was a 'bug' to give out 10k blocks. But if you're going to mask your lies by calling everything trolling and fud. I am going to stay away from this project and will ask everyone else do the same.

Funny, I wasn't even replying to you yet you seem to take it very personally. Calling it a "premine", which is the post I replied to, is FUD plain and simple by any normal definition of what a premine is.

As for "my lies" and the rest of your reply, I have no connection to the project at all. Go ahead and show me where anything I posted is factually incorrect.

There was an error made in the coin config. It resulted in 10K rewards for blocks mined in the first day of mining. The error was fixed within 24 hours of mining starting, and the pools were made aware that they needed to update. This affected approximately 1.6% of all coins to be mined, leaving 98.4% unaffected. Those are the facts.


there is no such thing as error resulting in a block reward giving 10k for 24 hours. I am sure it was as intentional as it was left out of the discussion of this thread. 1.8% of supply instamined by miners will be dumped on the investors the first day it hits the exchange. It would be nice if the information was written on the first thread. So we would know this coin has been instamined due to 'error'. But don't bother replying to this. This is an exercise in futility as the coin is already weeks old.

There is no such thing as an error like that? Do you even understand programming and coin configs? Yet you are "sure" that it was intentional without providing any evidence of the sort. It seems you also don't know the definition of instamine, all coins have a low diff in the beginning, this is not an "instamine". Is your user name ironic?
smartcrypto
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February 12, 2018, 05:17:49 PM
 #324

10k reward in first unknown number of blocks which gives early miners so many coins. which is unfair as they also had lowdifficulty to start with

~16.360.000 IPBC were premined aka first 1636 blocks were 10.000 IPBC each aka "// Sorry. My bad."

Yeah...no. Early miners got a higher reward than they should have for less than 24 hours because of an initial error in the coin config. That's not a premine. The extra rewards were spread among all of the early miners, a premine goes right into the Devs' wallets. Big difference.

We all get that you weren't one of those early miners and that you're bitter about it, but stop with the trolling and FUD.



this is not trolling nor fud. I have been mining. In first few pages. dev said the 10k blocks that pool mined were a 'bug' and those pools need to update. And yet, they continue on the same chain which dev said was a 'bug' to give out 10k blocks. But if you're going to mask your lies by calling everything trolling and fud. I am going to stay away from this project and will ask everyone else do the same.

Funny, I wasn't even replying to you yet you seem to take it very personally. Calling it a "premine", which is the post I replied to, is FUD plain and simple by any normal definition of what a premine is.

As for "my lies" and the rest of your reply, I have no connection to the project at all. Go ahead and show me where anything I posted is factually incorrect.

There was an error made in the coin config. It resulted in 10K rewards for blocks mined in the first day of mining. The error was fixed within 24 hours of mining starting, and the pools were made aware that they needed to update. This affected approximately 1.6% of all coins to be mined, leaving 98.4% unaffected. Those are the facts.


there is no such thing as error resulting in a block reward giving 10k for 24 hours. I am sure it was as intentional as it was left out of the discussion of this thread. 1.8% of supply instamined by miners will be dumped on the investors the first day it hits the exchange. It would be nice if the information was written on the first thread. So we would know this coin has been instamined due to 'error'. But don't bother replying to this. This is an exercise in futility as the coin is already weeks old.

There is no such thing as an error like that? Do you even understand programming and coin configs? Yet you are "sure" that it was intentional without providing any evidence of the sort. It seems you also don't know the definition of instamine, all coins have a low diff in the beginning, this is not an "instamine". Is your user name ironic?


Not true. how can you have such a mistake that the block rewards for first x blocks are 10k per block? They are simply exlpained in the coin configs defined in main.cpp or main.h file(I am assuming the coin is written in c++ like the litecoin and bitcoin etc). Computers are not humans making mistakes. They follow simple instructions.

Having 470 coins per block, but 10k coins in the starting blocks is THE definition of an instamine.

   ⚡⚡ PRiVCY ⚡⚡   ▂▃▅▆█ ✅ PRiVCY (PRIV) is a new PoW/PoS revolutionary privacy project ● ☞ ✅ Best privacy crypto-market! ● █▆▅▃▂
    Own Your Privacy! ─────────────────║ WebsiteGithub  |  Bitcointalk  |  Twitter  |  Discord  |  Explorer ║─────────────────
   ✯✯✯✯✯                 ✈✈✈[Free Airdrop - Starts 9th June]✅[Tor]✈✈✈ ║───────────║ Wallet ➢ ✓ Windows  |  ✓ macOS  |  ✓ Linux
Thebestis7950
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February 12, 2018, 05:43:09 PM
 #325

Give the guys a break
This is the first PoW project I have seen with working product at launch in 5 yrs being in crypto
If you dont like it
Go somewhere else

AQ16LcTPQcYXH9BhQTQfVDe7JtYNwdDaXj
Speedie
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February 12, 2018, 06:00:33 PM
 #326

Not true. how can you have such a mistake that the block rewards for first x blocks are 10k per block? They are simply exlpained in the coin configs defined in main.cpp or main.h file(I am assuming the coin is written in c++ like the litecoin and bitcoin etc). Computers are not humans making mistakes. They follow simple instructions.

Having 470 coins per block, but 10k coins in the starting blocks is THE definition of an instamine.

An error was made in CryptoNoteConfig.h where the tail emission was set to 10,000. This was acknowledged in Post 132 and subsequently fixed as noted in Post 137. It was human error that was fixed ASAP, not once has anybody suggested that it was deliberately coded so that "...the block rewards for first x blocks are 10k per block". Except for you.

Maybe a little more reading and a little less calling people liars for explaining demonstrable facts to you might be in order.

smartcrypto
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February 12, 2018, 06:00:39 PM
 #327

Give the guys a break
This is the first PoW project I have seen with working product at launch in 5 yrs being in crypto
If you dont like it
Go somewhere else

agreed, this project is refreshing to see amid all the scam in crypto. I wish for success of this coin. Just a little transparency doesn't hurt.  Smiley

   ⚡⚡ PRiVCY ⚡⚡   ▂▃▅▆█ ✅ PRiVCY (PRIV) is a new PoW/PoS revolutionary privacy project ● ☞ ✅ Best privacy crypto-market! ● █▆▅▃▂
    Own Your Privacy! ─────────────────║ WebsiteGithub  |  Bitcointalk  |  Twitter  |  Discord  |  Explorer ║─────────────────
   ✯✯✯✯✯                 ✈✈✈[Free Airdrop - Starts 9th June]✅[Tor]✈✈✈ ║───────────║ Wallet ➢ ✓ Windows  |  ✓ macOS  |  ✓ Linux
aizzaku
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February 12, 2018, 06:15:10 PM
 #328

I managed to get the event of exchange launch on CoinMarketCal.

https://coinmarketcal.com/?form%5Bdate_range%5D=21%2F02%2F2018+-+22%2F02%2F2018&form%5Bsort_by%5D=&form%5Bfilter_by%5D=&form%5Bsubmit%5D=

It would be nice if people could verify that Cheesy

the source provided is from the twitter page update.

bee_irl
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February 12, 2018, 06:22:50 PM
 #329

Not true. how can you have such a mistake that the block rewards for first x blocks are 10k per block? They are simply exlpained in the coin configs defined in main.cpp or main.h file(I am assuming the coin is written in c++ like the litecoin and bitcoin etc). Computers are not humans making mistakes. They follow simple instructions.

Having 470 coins per block, but 10k coins in the starting blocks is THE definition of an instamine.

An error was made in CryptoNoteConfig.h where the tail emission was set to 10,000. This was acknowledged in Post 132 and subsequently fixed as noted in Post 137. It was human error that was fixed ASAP, not once has anybody suggested that it was deliberately coded so that "...the block rewards for first x blocks are 10k per block". Except for you.

Maybe a little more reading and a little less calling people liars for explaining demonstrable facts to you might be in order.


Please explain in your own words how this “fix” actually resolved the issue. Let’s talk in facts from here on out instead of appealing to emotion and using personal attacks.

Here are the facts:

1. The block reward was multiplied by 10,000 “accidentally”.
2. The solution to this “accident” was to adjust the block reward down with a hard fork.
3. Everyone who mines this coin now is wasting their time because the devs who mined the majority of all early blocks have a 10,000x lead on everyone else and own 90% of coins.
4. The devs are claiming this is not a pre-mine or instamine, even though this is the exact definition of an instamine.
5. The proper “solution” would have been to change nothing. Imagine if the hard-fork to reduce the block reward had never happened. The only negative effect of multiplying the block reward is an increase in total supply of coins. Which as we know from IOTA and DOGE does not matter. You could have a coin with 20 trillion coins rewarded per block, it doesn’t matter, because people will simply move the decimal place.

In other words, the “solution” chosen by the dev team reduced everyone else’s block reward while keeping theirs the same. The correct solution would have been to do nothing.

Why did the devs choose to give themselves 16 million coins as the solution to this “mishap”?

Please explain.
smartcrypto
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February 12, 2018, 06:48:46 PM
 #330

Not true. how can you have such a mistake that the block rewards for first x blocks are 10k per block? They are simply exlpained in the coin configs defined in main.cpp or main.h file(I am assuming the coin is written in c++ like the litecoin and bitcoin etc). Computers are not humans making mistakes. They follow simple instructions.

Having 470 coins per block, but 10k coins in the starting blocks is THE definition of an instamine.

An error was made in CryptoNoteConfig.h where the tail emission was set to 10,000. This was acknowledged in Post 132 and subsequently fixed as noted in Post 137. It was human error that was fixed ASAP, not once has anybody suggested that it was deliberately coded so that "...the block rewards for first x blocks are 10k per block". Except for you.

Maybe a little more reading and a little less calling people liars for explaining demonstrable facts to you might be in order.



So far, all I have written are facts. No speculation. personally I mined the coins because it seems great. Yet the early blocks which had 10k each makes it impossible to be a worthwhile investment from both the miner and the investor's perspective.  And don't give me BS. I have mined this coin for 7 days. Which is now nothing more than a lost hashing power.

   ⚡⚡ PRiVCY ⚡⚡   ▂▃▅▆█ ✅ PRiVCY (PRIV) is a new PoW/PoS revolutionary privacy project ● ☞ ✅ Best privacy crypto-market! ● █▆▅▃▂
    Own Your Privacy! ─────────────────║ WebsiteGithub  |  Bitcointalk  |  Twitter  |  Discord  |  Explorer ║─────────────────
   ✯✯✯✯✯                 ✈✈✈[Free Airdrop - Starts 9th June]✅[Tor]✈✈✈ ║───────────║ Wallet ➢ ✓ Windows  |  ✓ macOS  |  ✓ Linux
Speedie
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February 12, 2018, 07:24:52 PM
 #331

Not true. how can you have such a mistake that the block rewards for first x blocks are 10k per block? They are simply exlpained in the coin configs defined in main.cpp or main.h file(I am assuming the coin is written in c++ like the litecoin and bitcoin etc). Computers are not humans making mistakes. They follow simple instructions.

Having 470 coins per block, but 10k coins in the starting blocks is THE definition of an instamine.

An error was made in CryptoNoteConfig.h where the tail emission was set to 10,000. This was acknowledged in Post 132 and subsequently fixed as noted in Post 137. It was human error that was fixed ASAP, not once has anybody suggested that it was deliberately coded so that "...the block rewards for first x blocks are 10k per block". Except for you.

Maybe a little more reading and a little less calling people liars for explaining demonstrable facts to you might be in order.



So far, all I have written are facts. No speculation. personally I mined the coins because it seems great. Yet the early blocks which had 10k each makes it impossible to be a worthwhile investment from both the miner and the investor's perspective.  And don't give me BS. I have mined this coin for 7 days. Which is now nothing more than a lost hashing power.

Almost nothing you have written is a fact, and you have yet to apologize for calling me a liar when every word that I wrote about what happened was not only true, but has been demonstrated to be true. It's not worth the keystrokes arguing with you about how 1.6% of the coins were mined when 98.4% of them are left to be mined.

Thebestis7950
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February 12, 2018, 08:59:58 PM
 #332

Not true. how can you have such a mistake that the block rewards for first x blocks are 10k per block? They are simply exlpained in the coin configs defined in main.cpp or main.h file(I am assuming the coin is written in c++ like the litecoin and bitcoin etc). Computers are not humans making mistakes. They follow simple instructions.

Having 470 coins per block, but 10k coins in the starting blocks is THE definition of an instamine.

An error was made in CryptoNoteConfig.h where the tail emission was set to 10,000. This was acknowledged in Post 132 and subsequently fixed as noted in Post 137. It was human error that was fixed ASAP, not once has anybody suggested that it was deliberately coded so that "...the block rewards for first x blocks are 10k per block". Except for you.

Maybe a little more reading and a little less calling people liars for explaining demonstrable facts to you might be in order.


Please explain in your own words how this “fix” actually resolved the issue. Let’s talk in facts from here on out instead of appealing to emotion and using personal attacks.

Here are the facts:

1. The block reward was multiplied by 10,000 “accidentally”.
2. The solution to this “accident” was to adjust the block reward down with a hard fork.
3. Everyone who mines this coin now is wasting their time because the devs who mined the majority of all early blocks have a 10,000x lead on everyone else and own 90% of coins.
4. The devs are claiming this is not a pre-mine or instamine, even though this is the exact definition of an instamine.
5. The proper “solution” would have been to change nothing. Imagine if the hard-fork to reduce the block reward had never happened. The only negative effect of multiplying the block reward is an increase in total supply of coins. Which as we know from IOTA and DOGE does not matter. You could have a coin with 20 trillion coins rewarded per block, it doesn’t matter, because people will simply move the decimal place.

In other words, the “solution” chosen by the dev team reduced everyone else’s block reward while keeping theirs the same. The correct solution would have been to do nothing.

Why did the devs choose to give themselves 16 million coins as the solution to this “mishap”?

Please explain.


The devs didn’t give themselves 16 million coins
The mining was fair and free to all launch
I myself mined 50k
I know some guys who mined 500k
If you guys were quick and mined on day one you would have got lots of coins as well
If it’s a big problem sell you coins when comes on exchange
Many people will happily buy them off you once project gets exposure

AQ16LcTPQcYXH9BhQTQfVDe7JtYNwdDaXj
aizzaku
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February 12, 2018, 09:10:52 PM
 #333

Not true. how can you have such a mistake that the block rewards for first x blocks are 10k per block? They are simply exlpained in the coin configs defined in main.cpp or main.h file(I am assuming the coin is written in c++ like the litecoin and bitcoin etc). Computers are not humans making mistakes. They follow simple instructions.

Having 470 coins per block, but 10k coins in the starting blocks is THE definition of an instamine.

An error was made in CryptoNoteConfig.h where the tail emission was set to 10,000. This was acknowledged in Post 132 and subsequently fixed as noted in Post 137. It was human error that was fixed ASAP, not once has anybody suggested that it was deliberately coded so that "...the block rewards for first x blocks are 10k per block". Except for you.

Maybe a little more reading and a little less calling people liars for explaining demonstrable facts to you might be in order.


Please explain in your own words how this “fix” actually resolved the issue. Let’s talk in facts from here on out instead of appealing to emotion and using personal attacks.

Here are the facts:

1. The block reward was multiplied by 10,000 “accidentally”.
2. The solution to this “accident” was to adjust the block reward down with a hard fork.
3. Everyone who mines this coin now is wasting their time because the devs who mined the majority of all early blocks have a 10,000x lead on everyone else and own 90% of coins.
4. The devs are claiming this is not a pre-mine or instamine, even though this is the exact definition of an instamine.
5. The proper “solution” would have been to change nothing. Imagine if the hard-fork to reduce the block reward had never happened. The only negative effect of multiplying the block reward is an increase in total supply of coins. Which as we know from IOTA and DOGE does not matter. You could have a coin with 20 trillion coins rewarded per block, it doesn’t matter, because people will simply move the decimal place.

In other words, the “solution” chosen by the dev team reduced everyone else’s block reward while keeping theirs the same. The correct solution would have been to do nothing.

Why did the devs choose to give themselves 16 million coins as the solution to this “mishap”?

Please explain.


The devs didn’t give themselves 16 million coins
The mining was fair and free to all launch
I myself mined 50k
I know some guys who mined 500k
If you guys were quick and mined on day one you would have got lots of coins as well
If it’s a big problem sell you coins when comes on exchange
Many people will happily buy them off you once project gets exposure


This i agree on. I dont know how you guys are comparing projects on what basis.

worst case scenario the devs have some coins right.. small percentage of total... dont you think for what they are developed and will further they atleast deserve that.

In this season of ICO and premines and etc they dare to launch the coin like this. 

Every project has ups and down. Honestly even i cudnt mine must but that doesnt bother me because have a look at the project man.. its better than most of the fake shit which cannot be delivered in near 5 years yet have raised loads of money and for what.

Time will tell if this project goes as intended or becomes a fail but just accusing from the start itself is not healthy. If you dont like it please do no follow.
Think of it like another drop in the ocean and carry on.

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February 12, 2018, 09:54:03 PM
 #334

I'm unable to mine using `NsGpuCNMiner -allpools 1 -o stratum+tcp://pool.ipbc.io:3333 -u WALLET_ADDRESS_REDACTED -p x` anyone is able to help?

I'm using Claymore's CryptoNote v11.2
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February 13, 2018, 02:55:54 AM
Merited by notsofast (15)
 #335

NOTE TO DEVS:

I have been a coach to devs and on teams to get pools, exchanges, miners, and investors for a few years now. I have seen problems with launches like this had, with the first day of 10K block rewards and now 470 per block. I have solved scenarios worse than this, but it takes effort from the dev team. I'll explain why this isn't a pre-mine, and sorta an insta-mine, but more importantly why does it matter and how to fix it. I recently solved a problem with a coin that had a 10% premine and it is doing VERY well now after my suggestions.

The problem we have here is NOT that the devs have the 1.6% of the supply from the bad 10k blocks. That is the situation we WANT. If the devs had the 1.6% supply, they would be in good strong hands, used for bounties, advertising, paying to get on Cryptopia and Bittrex, ect. The BIG problem we have is how much of that 1.6% is in regular early miners hands? Because THOSE GUYS are going to dump it to shit as soon as there is an exchange and ruin this otherwise good project.

So what is my solution (and this is from 5 years experience solving these issues, and usually for a bounty if dev is kind enough)? The dev/team should contact or post to find out who these rich list wallets belong to. If they are not on the team, then they are the early miners. Then the dev team should offer to buy all of their coins, or leave them with about 10% and buy the other 90% for safe keeping and business uses. 

I will also offer to any of these early miners to purchase some coins from them OTC for the initially proposed 1 cent/coin or 125 satoshi/coin.  Between the devs and myself removing most of the insanely cheap coins produced the first day from the 10k blocks, that would go a long way to solve this problem and any grievences about it.  If any of the early miners would like to take me up on the offer, just PM me here, or better yet on twitter @CRYPT0N1TE (the 0 is a zero and the 1 is a one). I have done countless deals like this and escrows in the past, and have many people on this forum, twitter, and other devs that can vouch for me and my history of solving these kinds of issues for them with a very positive outcome for all.

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February 13, 2018, 03:47:42 AM
 #336

NOTE TO DEVS:

I have been a coach to devs and on teams to get pools, exchanges, miners, and investors for a few years now. I have seen problems with launches like this had, with the first day of 10K block rewards and now 470 per block. I have solved scenarios worse than this, but it takes effort from the dev team. I'll explain why this isn't a pre-mine, and sorta an insta-mine, but more importantly why does it matter and how to fix it. I recently solved a problem with a coin that had a 10% premine and it is doing VERY well now after my suggestions.

The problem we have here is NOT that the devs have the 1.6% of the supply from the bad 10k blocks. That is the situation we WANT. If the devs had the 1.6% supply, they would be in good strong hands, used for bounties, advertising, paying to get on Cryptopia and Bittrex, ect. The BIG problem we have is how much of that 1.6% is in regular early miners hands? Because THOSE GUYS are going to dump it to shit as soon as there is an exchange and ruin this otherwise good project.

So what is my solution (and this is from 5 years experience solving these issues, and usually for a bounty if dev is kind enough)? The dev/team should contact or post to find out who these rich list wallets belong to. If they are not on the team, then they are the early miners. Then the dev team should offer to buy all of their coins, or leave them with about 10% and buy the other 90% for safe keeping and business uses. 

I will also offer to any of these early miners to purchase some coins from them OTC for the initially proposed 1 cent/coin or 125 satoshi/coin.  Between the devs and myself removing most of the insanely cheap coins produced the first day from the 10k blocks, that would go a long way to solve this problem and any grievences about it.  If any of the early miners would like to take me up on the offer, just PM me here, or better yet on twitter @CRYPT0N1TE (the 0 is a zero and the 1 is a one). I have done countless deals like this and escrows in the past, and have many people on this forum, twitter, and other devs that can vouch for me and my history of solving these kinds of issues for them with a very positive outcome for all.

I can vouch  for jimlite / @CRYPT0N1TE and extend the same buy offer to richlist early miners.

twitter.com/notsofast
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February 13, 2018, 03:58:57 AM
 #337

Thanks Notsofast.  It is great having another honest 5 year veteran and well respected crypto personality agreeing with the problem and solution as well as offering to help purchase these cheaply and erroneously instamined coins. 
Everyone can see that we both have legendary status and how long we have been on these forums.  Notsofast also is a regular part of shitcointalk webcast and the new prestigious 21 cryptos magazine.  Dev/team and especially the early instaminers, please reach out to one or both of us and help fix this issue and get most of those coins back to the dev team and/or in the strong hands of notsofast and I. In some way, they must be redistributed so they will not get insta-dumped. 1M coins acquired essentially for free (a days worth of electricity) is a huge albatross over this coin until they are redistributed into safer hands.
Thank you and good luck to this project, I would really like to mine it and be part of the community, as I have been community leader for countless coins, but this problem really needs to be solved before then.

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February 13, 2018, 04:59:27 AM
 #338

Not true. how can you have such a mistake that the block rewards for first x blocks are 10k per block? They are simply exlpained in the coin configs defined in main.cpp or main.h file(I am assuming the coin is written in c++ like the litecoin and bitcoin etc). Computers are not humans making mistakes. They follow simple instructions.

Having 470 coins per block, but 10k coins in the starting blocks is THE definition of an instamine.

An error was made in CryptoNoteConfig.h where the tail emission was set to 10,000. This was acknowledged in Post 132 and subsequently fixed as noted in Post 137. It was human error that was fixed ASAP, not once has anybody suggested that it was deliberately coded so that "...the block rewards for first x blocks are 10k per block". Except for you.

Maybe a little more reading and a little less calling people liars for explaining demonstrable facts to you might be in order.



So far, all I have written are facts. No speculation. personally I mined the coins because it seems great. Yet the early blocks which had 10k each makes it impossible to be a worthwhile investment from both the miner and the investor's perspective.  And don't give me BS. I have mined this coin for 7 days. Which is now nothing more than a lost hashing power.

Almost nothing you have written is a fact, and you have yet to apologize for calling me a liar when every word that I wrote about what happened was not only true, but has been demonstrated to be true. It's not worth the keystrokes arguing with you about how 1.6% of the coins were mined when 98.4% of them are left to be mined.


Again, you don't want to face the issue at hand, and just find ways to keep coming back at me. Instamine will ruin this coin because the early miners holding bags of 100k-500k coins from the day one will keep dumping the shit until its at 3 satoshi each. While right now the blocks are giving out only 470 coins.

Please tell me in what way this coin will ever survive like this. You'd rather let the coin die than admit that there's a problem of instamine?

I'd rather if the devs had the coins and they'd post the wallet address here for the sake of transparency.

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February 13, 2018, 05:01:38 AM
 #339

The point remains that the devs should have left the "mishap" alone and not changed anything at all. It's too late now. This mishap, but more importantly the way it was handled and the decision made to "fix it", illustrates inexperience with crypto from leadership.


Again, you don't want to face the issue at hand, and just find ways to keep coming back at me. Instamine will ruin this coin because the early miners holding bags of 100k-500k coins from the day one will keep dumping the shit until its at 3 satoshi each. While right now the blocks are giving out only 470 coins.

Please tell me in what way this coin will ever survive like this. You'd rather let the coin die than admit that there's a problem of instamine?

I'd rather if the devs had the coins and they'd post the wallet address here for the sake of transparency.
smartcrypto: I agree with you on all counts that it is worse that there are unknown users with 500k coins or more, however, if you look at the emission schedule 100m coins released per year drowns out the instamine quickly. If the project isn't around in 2 years it's a failure anyway.


NOTE TO DEVS:

I have been a coach to devs and on teams to get pools, exchanges, miners, and investors for a few years now. I have seen problems with launches like this had, with the first day of 10K block rewards and now 470 per block. I have solved scenarios worse than this, but it takes effort from the dev team. I'll explain why this isn't a pre-mine, and sorta an insta-mine, but more importantly why does it matter and how to fix it. I recently solved a problem with a coin that had a 10% premine and it is doing VERY well now after my suggestions.

The problem we have here is NOT that the devs have the 1.6% of the supply from the bad 10k blocks. That is the situation we WANT. If the devs had the 1.6% supply, they would be in good strong hands, used for bounties, advertising, paying to get on Cryptopia and Bittrex, ect. The BIG problem we have is how much of that 1.6% is in regular early miners hands? Because THOSE GUYS are going to dump it to shit as soon as there is an exchange and ruin this otherwise good project.

So what is my solution (and this is from 5 years experience solving these issues, and usually for a bounty if dev is kind enough)? The dev/team should contact or post to find out who these rich list wallets belong to. If they are not on the team, then they are the early miners. Then the dev team should offer to buy all of their coins, or leave them with about 10% and buy the other 90% for safe keeping and business uses.  

I will also offer to any of these early miners to purchase some coins from them OTC for the initially proposed 1 cent/coin or 125 satoshi/coin.  Between the devs and myself removing most of the insanely cheap coins produced the first day from the 10k blocks, that would go a long way to solve this problem and any grievences about it.  If any of the early miners would like to take me up on the offer, just PM me here, or better yet on twitter @CRYPT0N1TE (the 0 is a zero and the 1 is a one). I have done countless deals like this and escrows in the past, and have many people on this forum, twitter, and other devs that can vouch for me and my history of solving these kinds of issues for them with a very positive outcome for all.

I can vouch  for jimlite / @CRYPT0N1TE and extend the same buy offer to richlist early miners.
notsofast, jimlite: On a positive note the solution proposed by these posters may mitigate some of the negative effects of this situation. Also the fact that the additional coins only add around 16 million to the 1 billion total supply is not so bad. I thought it was a lot more originally, 1.6% is recoverable, but will require extra effort from the team to make up for that loss.



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February 13, 2018, 05:14:35 AM
 #340

While I believe this team has vast experience in coding, web design, marketing, and even crypto, I still think they made an honest mistake, but it needed to be immediately fixed in one of 3 ways.

1)As soon as the 10k/block error was found immediately re-launch genesis block and restart.
2)As soon as the 10k/block error was found, leave it that way with block rewards set to reduce far more aggressively over the mining lifespan.
3)See my previous posted solution.

The fact is now after a couple weeks of mining, it is too late for options 1 or 2, so again look into option 3, which is the only viable solution and way to make everyone happy and a win-win for the coin, dev team, and miners.

15-35% off anything on Amazon + .01 free BTC with Purse/Amazon https://t.co/ui0FEgypOX
Want a set and forget cpu and/or gpu mining app? Easier and better than Nicehasminer Try https://honeyminer.com/referred/58rie
NEED TO RENT A RIG? All algos at http://www.miningrigrentals.com/register?ref=627
Binance, hottest/largest alt exchange, 2BTC daily no verification. https://www.binance.com/?ref=13309371
NEED TO RENT A RIG? All algos at http://www.miningrigrentals.com/register?ref=627
If you own ANY #Bitcoin #BTC $BTC you should really follow this link and get in on the biggest #FREE airdrop in history. #BitcoinHex coming in 4 weeks at http://bitcoinhex.com/?r=0x9b1C28A29E13435AbCB1dAe4A31F9B5209D9Ec2C
Want a set and forget cpu and/or gpu mining app? Easier and better than Nicehasminer Try https://honeyminer.com/referred/58rie
Need to rent Big Hash https://www.nicehash.com/?refby=1393
TREZOR HARDWARE BTC SAFE WALLET http://tinyurl.com/olw2qe3
https://rawx.io Secure alt exchange that PAYS you interest!
BTC dice and FREE bitcoin faucet with only 1% edge https://t.co/blurpfa3Q4

  ✵ Super FAST block times      ✵ Block Explorer right in the wallet!     ✵ Stealth Addresses     ✵ PoW/PoS hybrid  
██
██
██
██
██
██
██
██
██
██
██
Ancient Money
for a New World
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