scottii (OP)
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February 16, 2014, 03:50:44 AM |
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kidyubyub
Sr. Member
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Activity: 440
Merit: 250
http://taas.fund
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February 16, 2014, 03:54:09 AM |
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BitCoinPokerBro
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February 16, 2014, 03:57:55 AM |
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Block 1 gives a 0.1% Premine.
Premine of 90 Billion coins?
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TheMightyX
Sr. Member
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Merit: 250
Vires in Numeris
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February 16, 2014, 04:01:23 AM |
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Block 1 gives a 0.1% Premine.
Premine of 90 Billion coins?
according to OP: Distribution 1st Year 14,824,000,000 From then on 10,512,000,000/yr (still not as bad as the federal reserve)
Premine should be 14,824,000 shouldn't it? Can anyone confirm a 90 bill premine?
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Alexbalix
Newbie
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Activity: 42
Merit: 0
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February 16, 2014, 04:06:15 AM |
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Block 1 gives a 0.1% Premine.
Premine of 90 Billion coins?
according to OP: Distribution 1st Year 14,824,000,000 From then on 10,512,000,000/yr (still not as bad as the federal reserve)
Premine should be 14,824,000 shouldn't it? Can anyone confirm a 90 bill premine? It's 0.1% of the total 1 trillion coins, which equates to a one billion coin pre-mine.
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TheMightyX
Sr. Member
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Activity: 350
Merit: 250
Vires in Numeris
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February 16, 2014, 04:15:55 AM |
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Block 1 gives a 0.1% Premine.
Premine of 90 Billion coins?
according to OP: Distribution 1st Year 14,824,000,000 From then on 10,512,000,000/yr (still not as bad as the federal reserve)
Premine should be 14,824,000 shouldn't it? Can anyone confirm a 90 bill premine? It's 0.1% of the total 1 trillion coins, which equates to a one billion coin pre-mine. Good, that sounds a bit better. Not sure where he got 90 billion from. Where do you see the maxcoins though? The OP made no mention of 1 trillion.
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Alexbalix
Newbie
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February 16, 2014, 04:24:23 AM |
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Block 1 gives a 0.1% Premine.
Premine of 90 Billion coins?
according to OP: Distribution 1st Year 14,824,000,000 From then on 10,512,000,000/yr (still not as bad as the federal reserve)
Premine should be 14,824,000 shouldn't it? Can anyone confirm a 90 bill premine? It's 0.1% of the total 1 trillion coins, which equates to a one billion coin pre-mine. Good, that sounds a bit better. Not sure where he got 90 billion from. Where do you see the maxcoins though? The OP made no mention of 1 trillion. It's listed here under CoinCap https://github.com/magicinternetmoney/mimEdit: It was also mentioned by the dev in post #29 I'm curious how you determined what a pre-mine of 0.1% is with a coin that has an eventual unlimited supply. Could we get what the premine was in terms of coins?
Sorry its 0.1% of 1 trillion im sorry. Which will take roughly 100 years to create.
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TheMightyX
Sr. Member
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Vires in Numeris
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February 16, 2014, 04:33:51 AM Last edit: February 16, 2014, 04:48:48 AM by TheMightyX |
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Removed due to misinformation.
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Alexbalix
Newbie
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February 16, 2014, 04:39:43 AM |
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I'm curious how you determined what a pre-mine of 0.1% is with a coin that has an eventual unlimited supply. Could we get what the premine was in terms of coins?
Sorry its 0.1% of 1 trillion im sorry. Which will take roughly 100 years to create. Isn't it kind of sneaky to take a premine for coins that wont exist for 100 years or may never exist at all?
If they took a premine of all the coins that would exist in 100 years that would be roughly 1,004,000,000 (0.1%). So they took a premine of coins that wont even be mined until long after were dead? Are you fucking kidding me?
To put it in perspective: The developer holds more coins now than everyone in the world will mine collectively for over 8.5 years.
Who is dumb enough to support this coin?
Your math is just wrong. In the first year there will be 14,824,000,000 coins mined. Nearly 150 million have already been mined, plus the devs are releasing plenty through giveaways, faucets, and bounties.
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TheMightyX
Sr. Member
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Activity: 350
Merit: 250
Vires in Numeris
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February 16, 2014, 04:45:23 AM |
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Shit i was reading 90 billion again XD first year 14,824,000,000 + (10,512,000,000 * 7 years) = 88,408,000,000 Don't I feel dumb. I'll remove that last post. Though I still don't think its right to take a premine of coins that will never be mined (let's face it, bitcoin/dogecoin/MIM will be replaced by something better within 50 years, let alone 100).
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eon89
Sr. Member
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Merit: 292
★YoBit.Net★ 350+ Coins Exchange & Dice
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February 16, 2014, 05:23:06 AM |
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I find it funny that the bitcoin ads on reddit say "Magic Internet Money"
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scottii (OP)
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February 16, 2014, 11:45:40 AM |
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*Developers
The blockreward for the first month is 40k.
$blocksPerMonth = 86400; $blockReward = 40000;
$blocksPerMonth * $blocksReward = 3456000000
So the premine is equliviliant to About 1 weeks worth of mining.
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Cyriaque5962
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February 16, 2014, 01:42:16 PM |
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LgwNqrvuHB2MW8hBZy9gtYs6p4mnojQXiC Thank you !
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erok
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February 16, 2014, 01:43:58 PM |
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"the destruction of privacy widens the existing power imbalance between the ruling factions and everyone else" -- Julian Assange
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Bfljosh
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February 16, 2014, 02:54:30 PM |
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Selling 8.000.000 Mim coins.
Pm me with your offer.
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erok
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February 16, 2014, 04:00:36 PM |
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"the destruction of privacy widens the existing power imbalance between the ruling factions and everyone else" -- Julian Assange
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PinkPotatos
Full Member
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Merit: 100
Girls dont crypto?
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February 16, 2014, 05:36:06 PM |
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instacalm
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February 16, 2014, 05:38:25 PM |
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The 5 million MIM faucet seems to be empty already, will you fill it up again?
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scottii (OP)
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February 16, 2014, 06:09:14 PM |
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The 5 million MIM faucet seems to be empty already, will you fill it up again?
Hell NO ! the Community is responsible for this ! Looks like someone greedy used a bot to drain the faucet so if you want free mim you have to come to http://webchat.freenode.net/?channels=mimcoinuntil we add email verification.
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instacalm
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February 16, 2014, 06:11:04 PM |
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The 5 million MIM faucet seems to be empty already, will you fill it up again?
Hell NO ! the Community is responsible for this ! Huh? As far as I know the actual plan is to distribute lots of MIM in order to raise awareness and there should be much more the devs want to push out. Please make sure to protect the faucet by email verification though. edit:
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