[ANN] [888] [SCRYPT] OctoCoin ◦ The Power of Eight ◦ Don't Blink

Quote from: Sanasol on March 14, 2014, 01:38:45 AM

Quote from: frameLAlife on March 14, 2014, 01:29:51 AM

Quote from: Sanasol on March 14, 2014, 01:21:17 AM

http://explorer2.sancrypto.info/address/8dWMopM6t8exAvGc7PQUEtrHdBwgTnktJb

Looks like premine > 0.8% Shocked

ummm how so? .008 (which is .8%) multiplied by 88,888,888 coins is 711,111.104 which is what the first block shows.

first block -yes

but dev start mine immediately after launch and get almost 1000 first blocks, even more than 1000

Interesting you should bring this up. First of all, you just linked to the FusionHash Pool address - the majority of hash power has been pointed at their pool and about 2/3 of all blocks have been found at that particular pool. Shortly before launch, we decided not to premine the first block and instead pointed our miners at all 4 launch pools - the same pools everybody else had access to. The launch pools were all given the source code before launch and instructed to fire up the stratum servers at 18:08:00 UTC; everybody was free to mine at 18:08:00 UTC. If you didn't notice, the first block wasn't found until 2014-03-08 18:08:39, which is 39 seconds after launch. Many people other than the dev team received shares of the "premine" although we did have more hash power than most (and were among the first shares submitted) so we received the majority of it. We have mined across 4 different pools from launch and have never solo-mined OctoCoin.

To summarize, there technically wasn't even a premine on OctoCoin - there was a brief instamine...but the instamine was by everybody that was there for launch - we had no advantages over any other early miners. Also, there were hundreds of people mining OctoCoin seconds after launch and, at block 1000 an hour in, the difficulty was at 2.5 and there were thousands of people mining OctoCoin - this is a higher difficulty than a lot of coins that have been out for months. It increased rapidly from there crossing over a difficulty of 15 by block 1200. I would disagree that could be considered an instamine.

Amateur detectives always come out of the woodwork when a new coin is launched but, unfortunately, most do not understand how to decipher a blockchain. With all of the scams out there, it's easy to understand why people approach everything with suspicion. There is no conspiracy here and an easy way to clear up any confusion is to look at the timestamps.