Just Pre-Mined TENS O single ALTCOIN on Coingen!

[goodsmash]

delete

[carajillu]

Probably you were mining in a fork

[_teknowiz_]

awesome waste of electricity.

[utf_tg]

So I hooked up a few of my servers and I was able to start mining several of the coins released on COINGEN. How the heck do they expect any of these coins to have any sort of value ??


I guess they will just get forked down the road?


I am sitting on a few mil of some of these coins now....

Tell us, how would one recognize any sort of value in any coin being released atm anyway..?

[Nullu]

So I hooked up a few of my servers and I was able to start mining several of the coins released on COINGEN. How the heck do they expect any of these coins to have any sort of value ??


I guess they will just get forked down the road?


I am sitting on a few mil of some of these coins now....

New coins are very unstable due to the difficulty. 99.9% of those coins will never see the light of day on an exchange. Without any sort of promotion nobody has any interest in those coins. Nobody to promote = no exchange. Maybe you'll get lucky and hit a coin before it's announced, but it seems like a waste of hashpower to me.

[singula]

Thinking about doing some marketing for some of these coins, you can download the whole file and just made some edits and then re-upload to github under your project..Open Source...Some idiots already paid for the  head start on it for you already...lol

Considering the changes from base coin are quite straightforward, you can easily do the same without coingen too .. just get litecoin, make some edits, re-upload to github under your project. May be better than scavenging through the trash near coingen output.

The only benefit would be if actually that fool will start promoting the coin for you (i.e. he will do that "hard work"), but as these new coins won't have any start node probably (at least not at time of downloading), you're just sitting on a fork, not knowing where the rest of the network is (if there is any)

[extro24]

So you are the guy that's been vacuuming up all the Jesus coins?  You called yourself Pontius Pilate in the Reddit posts.  Problem is, there is no source code, and all the parameters (like the magic number) are missing or unobtainable.  Without the source the coin will not be accepted on exchanges like Cryptsy.  

Effectively you executed a 51% attack, so the community around the coin died because they lost all their coins.

Anyway, I am waiting for the scrypt Jesus, which will have a much fairer launch (and where coingen is not involved).

[frobley]

Thinking about doing some marketing for some of these coins, you can download the whole file and just made some edits and then re-upload to github under your project..Open Source...Some idiots already paid for the  head start on it for you already...lol

coingen don't even bother to change 'Bitcoin' everywhere it bloody show in them qt's

[Nullu]

coingen, while intended to be disruptive to altcoins, has actually done the opposite.

People are beginning to scoff at the idea of mining any coin created on coingen, and rightly so. That "bitcoin developer" has done us a favour. Miners are not stupid. They're not going to mine coins they know will never make it to an exchange.

There have been fewer crapcoin threads lately. There still are some, but there are also some decent altcoins with actual development teams being released. None of this copy/paste garbage.

Best thing that could have happened, really.

[virtualdn]

coingen is the end of alt coins as we know them

[Nullu]

coingen is the end of alt coins as we know them

Agreed. As we know them.

[grantenierman]

I will never go to coingen or coincreators when there is tons of developers on the forum here i went to CC and there is no contact at all.