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Rias
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May 16, 2014, 11:25:37 AM |
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Hi friends, my question is: Is it true this coin was 80% premined? everyone keeps saying this.. why? Then what hope does this coin have to be a success? DRK also premined? also lying about being first anonymous crypto (Bytecoin is the first anonymous crypto AFAIK) Is there any coin out there with good ethics to invest?  And if you actually recheck, this is said by the competing coins or forks of Bytecoin with potentially instamining issue. I wouldn't believe everything I read. BCN's community is likely to be large. |
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Rias
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May 16, 2014, 11:27:57 AM |
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Yeah, but again, what about the 80% premine? just lol at taking that ligthly. International community somewhere... ok.
Also, doesn't BCN just live off cryptonote developers? what stops a cryptonote based coin with a more reasonable mining curve like Fantomcoin or Quazarcoin be the success instead of Bytecoin?
The network is almost 2 years old. You don't make a breakthrough technology just to wait 2 years to pump and dump it. It's a competitive landscape, so FCN or QCN may actually take over. But as far as I understand the github commits, Bytecoin developers are still contributing to the most complex issues behind the coin. |
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giveBTCpls
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May 16, 2014, 12:24:14 PM |
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Yeah, but again, what about the 80% premine? just lol at taking that ligthly. International community somewhere... ok.
Also, doesn't BCN just live off cryptonote developers? what stops a cryptonote based coin with a more reasonable mining curve like Fantomcoin or Quazarcoin be the success instead of Bytecoin?
The network is almost 2 years old. You don't make a breakthrough technology just to wait 2 years to pump and dump it. It's a competitive landscape, so FCN or QCN may actually take over. But as far as I understand the github commits, Bytecoin developers are still contributing to the most complex issues behind the coin. But the dumb mining distribution will always chase them no matter how good of a developers they are. Look at Quark. It had also a quick mining curve, and now no matter what they do everyone critisizes them because of this and the coin is fucked. I hope BCN is a success tho, just being realistic and just saying, people don't like this shit in general. |
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Rias
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May 16, 2014, 12:28:56 PM |
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But the dumb mining distribution will always chase them no matter how good of a developers they are. Look at Quark. It had also a quick mining curve, and now no matter what they do everyone critisizes them because of this and the coin is fucked.
I hope BCN is a success tho, just being realistic and just saying, people don't like this shit in general.
I think it's rather about the acceptance of the coin, rather than the technology itself. So here I have 2 points: 1) BCN developers are essential for CryptoNote coins as they are the only capable of doing significant things, at least at this point. 2) Bitcoin is unacceptably unfair for the new miners at this point, but it is still the most popular cryptocurrency. So the question is how the BCN's community will be able to push the ecosystem further in general public. |
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knightcoin
Full Member
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Activity: 238
Merit: 100
Stand on the shoulders of giants
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May 16, 2014, 01:11:14 PM |
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But the dumb mining distribution will always chase them no matter how good of a developers they are. Look at Quark. It had also a quick mining curve, and now no matter what they do everyone critisizes them because of this and the coin is fucked.
I hope BCN is a success tho, just being realistic and just saying, people don't like this shit in general.
I think it's rather about the acceptance of the coin, rather than the technology itself. So here I have 2 points: 1) BCN developers are essential for CryptoNote coins as they are the only capable of doing significant things, at least at this point. 2) Bitcoin is unacceptably unfair for the new miners at this point, but it is still the most popular cryptocurrency. So the question is how the BCN's community will be able to push the ecosystem further in general public. I think they are doing an amazing job, for some of us is like a "bitcoin dejavu" since we're a following the early stages of development. I feel grateful and I will support BCN even knowing about the "pre-mining". I think in some ways Cryptonote and bytecoin is trying to fix bitcoin weakness and trying to reassemble Nakamoto's original intends; 1) a crypto currency should be accessible to regular people (asic resistant ) and should be real anonymous (blockchain analysis resistant ) .... My main goal supporting BCN is learning as much as possible and because of that we should work more on wiki page and documentation. |
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DStrange (OP)
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May 16, 2014, 04:50:26 PM |
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WOOOW, IT JUST GOT REALI'm BCN spokeperson! So let go the whole nine yards! 
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DStrange (OP)
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May 16, 2014, 04:51:56 PM |
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And the last one  |
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Rias
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May 16, 2014, 05:00:17 PM |
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Congrats, spokesperson  Any plans then apart from posting the screenshots? I'd like to see the devs in this thread. Can you ask them to speak out here finally? |
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surfer43
Sr. Member
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Activity: 560
Merit: 250
"Trading Platform of The Future!"
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May 16, 2014, 05:04:08 PM |
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Tens of thousands of people in original community. LOL  |
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matej krkic
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May 16, 2014, 05:21:27 PM |
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Tens of thousands of people in original community. LOL Difficulty is 16mil now. It's for about 133 KHashes/sec. Average cpu gives 5-10 H/sec. So, about 13-26 thousands of machines. Am I wrong? |
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graphfox
Newbie
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Activity: 57
Merit: 0
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May 16, 2014, 05:30:51 PM |
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Hi friends, my question is: Is it true this coin was 80% premined? everyone keeps saying this.. why? Then what hope does this coin have to be a success? DRK also premined? also lying about being first anonymous crypto (Bytecoin is the first anonymous crypto AFAIK) Is there any coin out there with good ethics to invest? No one knows exactly what's with 80%. It's said they are spread among international community somewhere. BCN is based on promising technology (better than BTC at some point), developers are active, new BCN community is working over public services with BCN implementation. So no reasons for BCN coin not to have bright future. International community It absolutely is not fair (and unreasonable) for them to sell it all. They can't just sell it on the exchange cheaply and make a few bytecoin billionaires. They need to give it away somehow. But when? And to who? I think it could be done with an extension of the Minergate API and maybe phone apps. |
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Wanesst
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May 16, 2014, 06:46:45 PM |
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brander
coa032
RUNNY
sgk
VilchacoCan you translate our top post? Reward is 300,000 BCN for the translation! PM me!
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Wanesst
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May 16, 2014, 06:51:37 PM |
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Guys! I have a serious question for discussion again! Our giveaway fund is short of BCN. We received our first BCN by giveaway and I think that help our fund is right. 10 or 100 or 1,000 or 10,000 or 100,000 BCN will be accepted thankfully!Let's donate!Giveaway address is 26NTxi7Ruvv6PPZj64sfLtHmn7y6fsSTnDNmZau1A8UESumefYoAmnNNc2YQaZEEB3ak1siRY3Lz5bV 7gGHd3brvBXTYvKq  |
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sgk
Legendary
Offline
Activity: 1470
Merit: 1002
!! HODL !!
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May 16, 2014, 07:07:06 PM |
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Can you translate our top post? Reward is 300,000 BCN for the translation! PM me!
Sent you PM, mate! |
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shekelsteingoyberg2
Member
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Activity: 71
Merit: 10
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May 16, 2014, 07:31:11 PM |
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Is 0.00000019 too much per bytecoin? And how long will it take for a reward solo mining with an average desktop PC?
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knightcoin
Full Member
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Activity: 238
Merit: 100
Stand on the shoulders of giants
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May 16, 2014, 07:58:28 PM
Last edit: May 16, 2014, 08:15:11 PM by knightcoin |
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indeed, if there is no liquidity and competition on the market how do we suppose to know what the best price is? |
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eizh
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May 16, 2014, 08:05:03 PM |
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Tens of thousands of people in original community. LOL Difficulty is 16mil now. It's for about 133 KHashes/sec. Average cpu gives 5-10 H/sec. So, about 13-26 thousands of machines. Am I wrong? Average CPU is actually about 20 H/s. It was 10 H/s before the recent optimization in slow_hash.c. That puts it at ~6000 CPUs (which corresponds to probably less than 2000 miners) Difficulty was ~50-100k from July 2012 - January 2014, so 80% of the coins are not distributed among a "5-digit number" user base. More like 100 (simple math of diff to hashrate to number of PCs). |
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