[LECTURE] Why Instamining is BAD and why you shouldn't allow it when you Launch

[MisO69]

I agree with what you propose Hendo. But, why mine a new coin then? I think instamine is a necessary evil.

This is the way I see things.

We have these older stable coins, WDC, MEC, DGC etc. That are worth 20cents ++. With my 10Mh I can get a fair amount of these. Why would I mine a brand new coin that is not on an exchange, has no value attached to it yet, only to get a handful of coins? I would rather just mine Worldcoin and gamble that sharmbeck will increase its price. Then dump when that happens.

The thing that attracts miners to new coins is the instamine and the fact that early adopters can get a good amount of coins. If I can't do that then whats the point of using my expensive rigs on a worthless coin when there are many other options that give me some ROI.

That being said, I am really picky as to which new coins I jump on. Premined coins are an automatic no for me, simply because there are existing options for this. If I can instamine a non-premined coin I may point my miners there for 12-24 hours the back to WDC. But only if I catch it on release.

[maco]

Hendo is onto something everyone... Look at all these new coins popping out and community is losing money because they follow along the pump n dumps to gain money. The new Panda coin just whipped out the community and now here is my message to all of you... Hendo told you so... And 42 coin was a testiment to his theory.

Read my post about pandas community dump

https://bitcointalk.org/index.php?topic=460037.msg5294823#msg5294823

If Hendo and the team would have dumped 42. 42 would be at a much lower price and it would have dropped immediately.

This is crazy guys... Hendo called this out and no one listened. Well, how about you now double check your calendar because there is a new wave of theory that is about to change the crypto game for good.  Yes, that's 42 coin. Yes I am motivated to help 42 and I myself haven't dumped my coins either and I know a few ppl holding 42.

Please check block explorer and you'll find out how Hendo and the team missed out on dumping to make huge profits just to prove this theory is what we need in place for the dumping and instamining to stop.

Its all about win for devs win for community and win for the brand of the coin

If its not win win win... Leave that coin and invest into a logical coin you can adopt and grow for the future.

[maco]

Hendo is onto something everyone... Look at all these new coins popping out and community is losing money because they follow along the pump n dumps to gain money. The new Panda coin just whipped out the community and now here is my message to all of you... Hendo told you so... And 42 coin was a testiment to his theory.

Read my post about pandas community dump

https://bitcointalk.org/index.php?topic=460037.msg5294823#msg5294823

If Hendo and the team would have dumped 42. 42 would be at a much lower price and it would have dropped immediately.

This is crazy guys... Hendo called this out and no one listened. Well, how about you now double check your calendar because there is a new wave of theory that is about to change the crypto game for good.  

Yes, that's 42 coin. Yes I am motivated to help 42 and I myself haven't dumped my coins either and I know a few ppl holding 42.

Please check block explorer and you'll find out how Hendo and the team missed out on dumping to make huge profits just to prove this theory is what we need in place for the dumping and instamining to stop.

Its all about win for devs win for community and win for the brand of the coin

If its not win win win... Leave that coin and invest into a logical coin you can adopt and grow for the future.

[mikhael]

Hendo is onto something everyone... Look at all these new coins popping out and community is losing money because they follow along the pump n dumps to gain money. The new Panda coin just whipped out the community and now here is my message to all of you... Hendo told you so... And 42 coin was a testiment to his theory.

Read my post about pandas community dump

https://bitcointalk.org/index.php?topic=460037.msg5294823#msg5294823

If Hendo and the team would have dumped 42. 42 would be at a much lower price and it would have dropped immediately.

This is crazy guys... Hendo called this out and no one listened. Well, how about you now double check your calendar because there is a new wave of theory that is about to change the crypto game for good.  Yes, that's 42 coin. Yes I am motivated to help 42 and I myself haven't dumped my coins either and I know a few ppl holding 42.

Please check block explorer and you'll find out how Hendo and the team missed out on dumping to make huge profits just to prove this theory is what we need in place for the dumping and instamining to stop.

Its all about win for devs win for community and win for the brand of the coin

If its not win win win... Leave that coin and invest into a logical coin you can adopt and grow for the future.

+1

[BitCoinPokerBro]

Miner A has 5mh/s and starts mining Fcoin at launch. It is an instamine. He makes 500,000 coins at a difficulty of 0.002 or less in the span of about 10 minutes. Miner B has 5mh/s and likes the new Fcoin but is finding out about it 30 minutes after launch. He gets on and mines for the next 3 days and mines only 5,000 coins.

If you agree with me can I get a HELL YEAH?

These days it's all about scrypt asics and 25-50+MH farms. Small miners with sub 5mh don't make shit anymore.

[eddilicious]

hell yeah!!!!

but i think they do it on purpose, because it is the dev that has a rig ready for it during the launch.

my thinking is,

there are lots of dev in this forum. everyone wants to be insta-rich by copy paste. that does not help crypto-currency as a whole. it ends up they destroy the opportunity that can really make all of us rich.

for alt coin to survive,

WE DONT NEED ANY NEW COINS. WE NEED A ECONOMY FOR EXISTING COINS.

Even for those scrypt-jane, scrypt-sussie coins, if the blocks halves too fast, by the time the coin is 99% mined, and no economy is developed for it. it will still die no matter what.