[ANN] Bitcoin Litecoin Feathercoin. ALL PREMINED. Why pre-mining is needed!!!

[rapidfire187]

All of these coins were pre-mined. Bitcoin, Litecoin, and Feathercoin. Pre-Mining helps to support development and helps pay developers. It is not a bad thing.

[wolverine.ks]

define premining. my guess is many will disagree with your post once you offer a definition.

[RenegadeMind]

Depends on how much is premined. Premining all of it? Scam. Premining some for the sake of development and promotion? Sure, but in sane amounts. 50% is not sane. 1% is still a lot of premining. Guess it depends on the character of the crypto though.

[Kane49]

define premining. my guess is many will disagree with your post once you offer a definition.

His definition is: if he didn't know about it from day1, its premined

[r3animation]

define premining. my guess is many will disagree with your post once you offer a definition.

His definition is: if he didn't know about it from day1, its premined

+1

He's trying to justify his 1 month of pre-mining on incakoin.

And no, BTC and LTC were not pre-mined. FTC was insta-mined not pre-mined.

Incakoin was definitely pre-mined.

[r3animation]

define premining. my guess is many will disagree with your post once you offer a definition.

His definition is: if he didn't know about it from day1, its premined

+1

He's trying to justify his 1 month of pre-mining on incakoin.

Historical question: were any Bitcoins premined? If so, how many?


https://bitcointalk.org/index.php?topic=160626.0

quote from: Stephen Gornick
Hero Member
*****

"See back when Satoshi created Bitcoin, almost nobody gave a rat's ass about it.    It was a lot of work, from what I read, to try the program out.  The code wasn't easily compiled and built, there was nearly no documentation, etc.

But the project had been discussed in the cryptography mailing list months prior to the genesis block being created on January 3rd, 2009, and the first public release occurred less than a week after the genesis block was mined:
 - http://www.mail-archive.com/cryptography@metzdowd.com/msg10142.html

Eventually, others did join in.    

The June 2010 Slashdot article is when difficulty rose above to where there were more miners (maybe a few dozen prior to then mining regularly?).  Difficulty was 1 until February 2010 at block 38,304 -- when 1.9 million BTC had already been mined.
 - https://spreadsheets.google.com/pub?hl=en&hl=en&key=0AmcTCtjBoRWUdHVRMHpqWUJValI1RlZiaEtCT1RrQmc"

Actually you helped me prove my point. What you quoted just shows that BTC wasn't pre-mined.

If you noticed from your own quote, BTC as a concept was discussed for months before being released. Everyone could mine a few days after the genesis block was created. What can you say about your incakoin? How many blocks were mined before introducing it to the public?

[r3animation]

Quote:

genesis block being created on January 3rd, 2009, and the first public release occurred less than a week after the genesis block was mined:

So its a few days of BTC vs 3-4 weeks of your incakoin? Why don't you put that in the topic instead?

[r3animation]

And since you posted up the topic.

Give your definition of a pre-mine.

[r3animation]

Quote:

genesis block being created on January 3rd, 2009, and the first public release occurred less than a week after the genesis block was mined:

So its a few days of BTC vs 3-4 weeks of your incakoin? Why don't you put that in the topic instead?

Let us calculate the projected amount of coins a few days worth of BTC pre-mine shall we at current market price. 890 x 50 x every ten minutes x a few days?

You want to use the current market price? Why not use the market price when it was released? That's only fair if you're going to compare that with your incakoin.

Remember this was 2009 when computers were a lot slower and no GPUs were useable as miners.

But what is your definition of pre-mine? Why don't you put incakoin in the topic too?

[GigaCoin]

All of these coins were pre-mined. Bitcoin, Litecoin, and Feathercoin. Pre-Mining helps to support development and helps pay developers. It is not a bad thing.

this is not an announcement…

and about pre-mine as long as it's reasonable i support it, premise is required to pay developers, giveaways, etc, but if someone pre mines more than 15% of the coins then it means greed is involved.

[r3animation]

define premining. my guess is many will disagree with your post once you offer a definition.

His definition is: if he didn't know about it from day1, its premined

+1

He's trying to justify his 1 month of pre-mining on incakoin.

And no, BTC and LTC were not pre-mined. FTC was insta-mined not pre-mined.

Incakoin was definitely pre-mined.

Quote:quote from: Stephen Gornick
Hero Member
*****
(about bitcoin premine)

https://bitcointalk.org/index.php?topic=160626.0

genesis block being created on January 3rd, 2009, and the first public release occurred less than a week after the genesis block was mined:

What is your definition of pre-mine? Why don't you put incakoin in the topic too?

[r3animation]

define premining. my guess is many will disagree with your post once you offer a definition.

His definition is: if he didn't know about it from day1, its premined

+1

He's trying to justify his 1 month of pre-mining on incakoin.

And no, BTC and LTC were not pre-mined. FTC was insta-mined not pre-mined.

Incakoin was definitely pre-mined.

Quote:quote from: Stephen Gornick
Hero Member
*****
(about bitcoin premine)

https://bitcointalk.org/index.php?topic=160626.0

genesis block being created on January 3rd, 2009, and the first public release occurred less than a week after the genesis block was mined:

What is your definition of pre-mine? Why don't you put incakoin in the topic too?

This is my definition of pre-mine:

So why don't you put incakoin in the topic too?

[r3animation]

Bitcoin pre mined about 6 or 7 days give or take. The current value of a 7 day pre mine of BTC $45,360,000 USD. 10 minutes x 6 blocks an hr. x 24 hours x 7 days x 50 Bitcoins a block. 504000 Bitcoins pre-mined. WTF over?!?!

Nice try.

Use the market value when it was launched, not now, after 4 years.

How many coin did you pre-mine for incakoin? Why won't you include it in the title?

And 500k bitcoins weren't pre-mined. You can check in the blockchain but I doubt you have the mental capacity to do so.

Just because you are late to the party makes you bitter doesn't mean you can scam with your incakoin.

[r3animation]

Bitcoin pre mined about 6 or 7 days give or take. The current value of a 7 day pre mine of BTC $45,360,000 USD. 10 minutes x 6 blocks an hr. x 24 hours x 7 days x 50 Bitcoins a block. 504000 Bitcoins pre-mined. WTF over?!?!

Nice try.

Use the market value when it was launched, not now, after 4 years.

How many coin did you pre-mine for incakoin? Why won't you include it in the title?

And 500k bitcoins weren't pre-mined. You can check in the blockchain but I doubt you have the mental capacity to do so.

Just because you are late to the party makes you bitter doesn't mean you can scam with your incakoin.

Why don't you read subject of this post SHIT FOR BRAINS. Re: [ANN] Bitcoin Litecoin Feathercoin. ALL PREMINED. Why pre-mining is needed!!!

Then why don't you put your precious incakoin in the thread title? It was only pre-mined for more then 3 weeks making it one of the worst offenders in pre-mining digital currency history.

[r3animation]

So what Bitcoin is associated with Murder for Hire, Money Laundering, Conspiracy of Drug trafficking, and a dozen other federal offenses. Bitcoin is the fucking most crooked piece of shit digital currency ever used by low lifes and pieces of shit like you asshole @ r3animation

So you're still not going to put your coin, Incakoin in the thread title since it's one of the most pre-mined coins in existence?

By the way, did you ever pay out in your hack Incakoin challenge? I know your coin had to be hard-forked. Wasn't it $5k to someone here in the forums?

[r3animation]

Bitcoin pre mined about 6 or 7 days give or take. The current value of a 7 day pre mine of BTC $45,360,000 USD. 10 minutes x 6 blocks an hr. x 24 hours x 7 days x 50 Bitcoins a block. 504000 Bitcoins pre-mined. WTF over?!?!

Nice try.

Use the market value when it was launched, not now, after 4 years.

How many coin did you pre-mine for incakoin? Why won't you include it in the title?

And 500k bitcoins weren't pre-mined. You can check in the blockchain but I doubt you have the mental capacity to do so.

Just because you are late to the party makes you bitter doesn't mean you can scam with your incakoin.

[r3animation]

Bitcoin pre mined about 6 or 7 days give or take. The current value of a 7 day pre mine of BTC $45,360,000 USD. 10 minutes x 6 blocks an hr. x 24 hours x 7 days x 50 Bitcoins a block. 504000 Bitcoins pre-mined. WTF over?!?!

Nice try.

Use the market value when it was launched, not now, after 4 years.

How many coin did you pre-mine for incakoin? Why won't you include it in the title?

And 500k bitcoins weren't pre-mined. You can check in the blockchain but I doubt you have the mental capacity to do so.

Just because you are late to the party makes you bitter doesn't mean you can scam with your incakoin.

[r3animation]

Bitcoin pre mined about 6 or 7 days give or take. The current value of a 7 day pre mine of BTC $45,360,000 USD. 10 minutes x 6 blocks an hr. x 24 hours x 7 days x 50 Bitcoins a block. 504000 Bitcoins pre-mined. WTF over?!?!

Sad incakoin dev/pr. You can't even get your facts right.

[r3animation]

Bitcoin pre mined about 6 or 7 days give or take. The current value of a 7 day pre mine of BTC $45,360,000 USD. 10 minutes x 6 blocks an hr. x 24 hours x 7 days x 50 Bitcoins a block. 504000 Bitcoins pre-mined. WTF over?!?!

Sad incakoin dev/pr. You can't even get your facts right.

Sad Bitcoin dev/pr. You can't even get your facts right.

I wish was a bitcoin dev/pr.

Get your facts straight and then argue for them. You don't have a leg to stand on in these forums.

[spartacusrex]

Pre-Mining..

Why oh Why does everyone get 'soooo' angry at the thought that someone who spent days/weeks/months working on a product(normally in a darkened room in a basement or cellar..), that he then gives to us all for free, keep back some of the WORTHLESS DIGITAL TOKENS at launch..

The TOKENS will ONLY be worth something if/when his coin starts to succeed.

This will take time/work. It will take someone to nurture the coin. Look after it. Post stuff about it.. etc etc..

The INCENTIVEs cannot be FAKED. Either the creator has a stake in the coin, and therefore cares about it at the 'oh-so-important' financial level, or he doesn't.

Would the miners be supporting the BTC network if they thought it was for the good of the World. I wish that were the case, but life just isn't like that. They do it for the money. AND MORE IMPORTANTLY - they do it well. They are committed, dedicated and organised. That is what the MONEY BRINGS..

I discuss this in my previous post... https://bitcointalk.org/index.php?topic=347611.0

Bottom line - I WANT THE CREATOR to be in on it. Not too much though. 1%, as I say, seems a fair amount to spur on development/bounties and keep the Creator unequivocally interested in his creation..

Let's cut them some slack.

No-one forces anything. You think the Coin is no good - DONT BUY INTO IT..

But bitching about imaginary tokens that may or may not be worth more than NOTHING, seems a bit tight..