Which coins are premined? Did satoshi really premine 1 million bitcoins?

[taltamir]

Which altcoins are premined (and which aren't)?

Also, I had heard that satoshi premined 1 million coins before releasing bitcoin to the public. Is it true about satoshi?

[2bfree]

I he did he deserved it he made one of the greatest contributions to the human race and freedom. He reminds me of Tesla who tried to give free unlimited energy , communication and more to the human race just to get crushed by evil greedy bustards. Satoshi was smart to work underground. Maybe we are lucky he lives a long life and one day before he departs us give us some words of wisdom but if he doesn't what he left is amazing and give me hope to live life and know there is hope for real freedom!

so if he premind who cares, make your coin and don't premine it if that bothers you he gave you the way, so don't worry about it.

[manobra]

I he did he deserved it he made one of the greatest contributions to the human race and freedom. He reminds me of Tesla who tried to give free unlimited energy , communication and more to the human race just to get crushed by evil greedy bustards. Satoshi was smart to work underground. Maybe we are lucky he lives a long life and one day before he departs us give us some words of wisdom but if he doesn't what he left is amazing and give me hope to live life and know there is hope for real freedom!

so if he premind who cares, make your coin and don't premine it if that bothers you he gave you the way, so don't worry about it.

Back to The question.... (He didn't ask your opinion)

[taltamir]

I he did he deserved it he made one of the greatest contributions to the human race and freedom. He reminds me of Tesla who tried to give free unlimited energy , communication and more to the human race just to get crushed by evil greedy bustards. Satoshi was smart to work underground. Maybe we are lucky he lives a long life and one day before he departs us give us some words of wisdom but if he doesn't what he left is amazing and give me hope to live life and know there is hope for real freedom!

so if he premind who cares, make your coin and don't premine it if that bothers you he gave you the way, so don't worry about it.

I didn't ask if it was bad or good or if he deserved it or not, I asked if it happened.

I need more time to formulate my opinion on the issue (although I am currently leaning towards "yes he deserved it"); but discussing this is not the purpose of this thread.

Different people are of different opinion on the matter, and it becomes especially pertitent for altcoins which make little to no changes. It would be great if we could compile a list of premining info for each coin so people can make their own decisions. Was litecoin premined? doge? nxt? frei? etc.
Actually, how could I got about finding out this info myself?

[whtchocla7e]

I he did he deserved it.

It's questionable whether or not he deserved it and whether or not it was for the good of Bitcoin.

[Melbustus]

Also, I had heard that satoshi premined 1 million coins before releasing bitcoin to the public. Is it true about satoshi?

No. Bitcoin has no premine.

Some estimates suggest that Satoshi has mined up to 1m coins, mostly during 2009 when there were few other miners and difficulty was 1. But his coins were not pre-mined.

Incidentally, none of the coins suspected of being Satoshi's have ever been spent. IMO, it's unlikely they ever will be.

[BitThink]

Bitcoin v0.1 was public released on 17:05:49 -0800, January 9, 2009. https://en.bitcoin.it/wiki/History

At that time, block 1 - 14 were mined. So you could say Satoshi may have premined 14 blocks (700 BTC). Remember 700 BTC that time worth nothing.

block 14:
https://blockchain.info/block/0000000080f17a0c5a67f663a9bc9969eb37e81666d9321125f0e293656f8a37

block 15:
https://blockchain.info/block/00000000b3322c8c3ef7d2cf6da009a776e6a99ee65ec5a32f3f345712238473



Certainly, we don't know how many other people joined that time, so we don't know how much was mined by Satoshi. Nonetheless, after block 15, there's no premining any more since he had already published the code.

[rix5]

what exactly is a 'premine' and why is this not in altcoinsection?

[BitThink]

what exactly is a 'premine' and why is this not in altcoinsection?

Premine means the developer begins mining before release the code/software, therefore in this period nobody else can mine.

[unkn0wnPlayer]

$1k for a BTC is (potentially) far from the ceiling. If all goes well, I bet Satoshi will cash in some years down the line.

[drmosh]

I premined 10k bitcoins back in 2002

 

[tk808]

No-premine. But he mined his own creation from day 1. Has about 960,000btc

Satoishi deserves every bit of billions and billions of dollars. The system he or they created is no less then Microsoft or Macintosh... Xerox..etc.

Instead of creating some fresh and new that contributes to the decline of our modern monetary system, people are seeking to make a quick profit from someone elses work.

So in essence, they copy and pre-mine their own coin.

That's the natural model for business though. No Ethics.

[manobra]

You can see if an alt(coin) has been premined if, on its day of launch too many block are already been discovered (that means the developer mined before made public).

PS: For those who loves Satoshi Nakamoto and wants to make it public, please go to www.ilovesatoshinakamoto.com

This post is simple and requires real facts to be answered, not a place to publish your love to Nakamoto (lets be objective in our reponses, when the question has nothing to do with your opinion, but with facts)


THANKS SATOSHI NAKAMOTO!! I LOVE YOU!! ahaahahah!!

[taltamir]

At that time, block 1 - 14 were mined. So you could say Satoshi may have premined 14 blocks (700 BTC). Remember 700 BTC that time worth nothing.

block 14:
https://blockchain.info/block/0000000080f17a0c5a67f663a9bc9969eb37e81666d9321125f0e293656f8a37

block 15:
https://blockchain.info/block/00000000b3322c8c3ef7d2cf6da009a776e6a99ee65ec5a32f3f345712238473

Thank you, so satoshi premined 700 BTC, and it is estimated he owns 1 million BTC which he got through after the code was released when BTC was cheap to buy and easy to mine.
That is actually pretty decent.

Anyone else think its worthwhile to know the specific amounts premined for each coin?

[Pitstop]

Did satoshi mine BTC? You mean the Team of Google Dev's that created it don't you?

[undeadbitcoiner]

At that time, block 1 - 14 were mined. So you could say Satoshi may have premined 14 blocks (700 BTC). Remember 700 BTC that time worth nothing.

block 14:
https://blockchain.info/block/0000000080f17a0c5a67f663a9bc9969eb37e81666d9321125f0e293656f8a37

block 15:
https://blockchain.info/block/00000000b3322c8c3ef7d2cf6da009a776e6a99ee65ec5a32f3f345712238473

Thank you, so satoshi premined 700 BTC, and it is estimated he owns 1 million BTC which he got through after the code was released when BTC was cheap to buy and easy to mine.
That is actually pretty decent.

Anyone else think its worthwhile to know the specific amounts premined for each coin?

Actually In the case of BTC we even cant say that 700BTC or 14 Blockes were PREMINED that word actually didnt shots to Bitcoin and even to Satoshi, Bitcoin is the first successfull CryproCoin and to actually test and verify its network, its mining capability and everything before making it public He (Satoshi) had to check about his world changing work so can we please say it TEST
Today almost every alts are premined for Development but that day Satoshi didnt mined for Developmet he mined to verify his work and within 6 days he lunched software and codes everything to Public and when BTC was public everyone now also can verify it was only 14 block Mined.

[4w4k3ning]

I dont care if the "x" coin is premined or not. 

[thehashman]

At that time, block 1 - 14 were mined. So you could say Satoshi may have premined 14 blocks (700 BTC). Remember 700 BTC that time worth nothing.

block 14:
https://blockchain.info/block/0000000080f17a0c5a67f663a9bc9969eb37e81666d9321125f0e293656f8a37

block 15:
https://blockchain.info/block/00000000b3322c8c3ef7d2cf6da009a776e6a99ee65ec5a32f3f345712238473

Thank you, so satoshi premined 700 BTC, and it is estimated he owns 1 million BTC which he got through after the code was released when BTC was cheap to buy and easy to mine.
That is actually pretty decent.

Anyone else think its worthwhile to know the specific amounts premined for each coin?

Actually In the case of BTC we even cant say that 700BTC or 14 Blockes were PREMINED that word actually didnt shots to Bitcoin and even to Satoshi, Bitcoin is the first successfull CryproCoin and to actually test and verify its network, its mining capability and everything before making it public He (Satoshi) had to check about his world changing work so can we please say it TEST
Today almost every alts are premined for Development but that day Satoshi didnt mined for Developmet he mined to verify his work and within 6 days he lunched software and codes everything to Public and when BTC was public everyone now also can verify it was only 14 block Mined.

If it was a test he could have just started a new blockchain with the software release...

[BitThink]

Yes, it's testing rather than premining. Satoshi could've mined around 1000 blocks in that 6 days, but he just mined 14 blocks. Apparently he ran it very sparsely. Only after releasing, he run miner continuously to support the system.

[BitThink]

At that time, block 1 - 14 were mined. So you could say Satoshi may have premined 14 blocks (700 BTC). Remember 700 BTC that time worth nothing.

block 14:
https://blockchain.info/block/0000000080f17a0c5a67f663a9bc9969eb37e81666d9321125f0e293656f8a37

block 15:
https://blockchain.info/block/00000000b3322c8c3ef7d2cf6da009a776e6a99ee65ec5a32f3f345712238473

Thank you, so satoshi premined 700 BTC, and it is estimated he owns 1 million BTC which he got through after the code was released when BTC was cheap to buy and easy to mine.
That is actually pretty decent.

Anyone else think its worthwhile to know the specific amounts premined for each coin?

Actually In the case of BTC we even cant say that 700BTC or 14 Blockes were PREMINED that word actually didnt shots to Bitcoin and even to Satoshi, Bitcoin is the first successfull CryproCoin and to actually test and verify its network, its mining capability and everything before making it public He (Satoshi) had to check about his world changing work so can we please say it TEST
Today almost every alts are premined for Development but that day Satoshi didnt mined for Developmet he mined to verify his work and within 6 days he lunched software and codes everything to Public and when BTC was public everyone now also can verify it was only 14 block Mined.

If it was a test he could have just started a new blockchain with the software release...

Why bother? Even after releasing, almost no one was mining anyway. He was just releasing a normal open source project then. Nobody thought bitcoin worth anything.