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Author Topic: [PRE-ANN][BS] BitSlap! PoW x11 ***Delayed Again LMAO  (Read 47687 times)
szenekonzept
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June 01, 2014, 02:32:27 PM
 #301

No IPO, that is a good news.

yup, but dev is too greedy. I'm out!
hmm I'll consider mining this coin if dev reduces the number of premine.

Why is everyone up in arms about a 0.5% premine?!?

Ok, so i understand there are three people working on this coin and maybe more? so that is about 0.16% max each.  The dev group should be entitled to the premine if they put in the effort and create value in the coin, which will unavoidably require them to use their own assets, be it time, fiat, BTC, or the premine.

There is nothing wrong with dev's pre-mining. What one does have to take into consideration is the math of it all. 0.5% sounds like very little, but its misleading when one takes the block rewards and block times into consideration. a 1% premine on a 2 week pow/pos coin is one thing, a 0.5% pre-mine on a 15 year coin is something different altogether.

Say this coin launches successfully (no reason why it shouldn't). After a month of hashing, there will be a total of approximately 1million coins in circulation. Half those coins will belong to the dev through the premine. Which is fine if you trust the dev to sit on his premine and use it only for bounties and dropping a few  coins on the exchanges to get some volume going. So at the end of the day with this particular coin the devs are asking us to trust them a lot more than we have to with other similar coins.

As with all coins, it's a judgement call. The unfortunate fact is, lately the altcoin game has engendered very little trust in devs due to the amount of one-off coins that failed because of greedy developers dumping that premine on the market as soon as it gives them a viable profit. Will the bitslap devs be different? No way to tell, but the size of the pre-mine leaves all the options in the hands of the dev's, and all the trust in the coin will have to come from the miners.



I have been involved in many coin launches and messaged the dev about this. The problem is the math in relation to the block rewards vs. premine.  While .5% sounds small, it is HUGE. 500,000 coins in the devs hands while miners are getting a thousanth of a 22 coin block reward (when they hit a block), leaves miners getting like .0002 coins/day, even large farms would only get a few coins/day which means NOTHING next to a 500,000 pre-mine.  SO the current premine/rewards ratio is very unfair and NOT worth mining at all.  I have messaged the dev to offer my help and advice for a successful launch, but either the premine needs to go down by a factor of 100X or the block rewards need to go up by a factor of 100x, or by a factor of 50X for both, or the coin will fail, plain and simple.

Hm soudns reasonable I did never think it that way.
@DEV you pointed out, that you would be willing to discuss that point.
This would be a good moment to give a statement.

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xmcn
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June 01, 2014, 02:46:55 PM
 #302

0.5% premine is too much for the shit block rewards. just like litecoinx.
i am out.
MinermanNC
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June 01, 2014, 02:51:42 PM
 #303


People are saying that it's all over with this coin.

Was it over when the Germans bombed Pearl Harbor?  Hell no!

Now who's with me?
WTF The Japs bombed pearl harbor!!! not those fuk'n Germans, however we dealt with both of them accordingly lol

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szenekonzept
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June 01, 2014, 03:00:19 PM
 #304


People are saying that it's all over with this coin.

Was it over when the Germans bombed Pearl Harbor?  Hell no!

Now who's with me?
WTF The Japs bombed pearl harbor!!! not those fuk'n Germans, however we dealt with both of them accordingly lol


 Cool Correct we did not bomb pearl harbor, we tried to bomb the freakin' rest, and got fucking BITSLAPT  Grin

.

raskul
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June 01, 2014, 03:22:37 PM
 #305

we don't have any rigs

I don't have any strings on my guitar but i'm going to play you a tune.

I don't have wheels on my car, would you like to come for a drive?

please... find a business that you actually know something about.
Another BS ShitCoin.

tips    1APp826DqjJBdsAeqpEstx6Q8hD4urac8a
iqacid
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June 01, 2014, 03:54:51 PM
 #306

BitSlap!



0.5% Premine.

What? You think we are doing this for your benefit? Get the fuck out of here.








bs.poolest.com

Yeah we all knew alrdy you r thinking about your benefit Grin  90sec block time and 22 reward. just rofl  Grin
tc61
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June 01, 2014, 04:18:03 PM
 #307

Can you put the wallet up so we can set it up?HuhHuhHuhHuh
davisgreen
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June 01, 2014, 04:40:13 PM
 #308

Not fair i guess
So after whole 1 year of mining- there will be only 500,000 coins in all- and the devs already have the same amount.
Block reward shall be increased many folds or premine reduced many folds to make it attractive as some one else said.

Hope the devs take some fu***ng action on this ASAP. Smiley

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t0mpr1c3
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June 01, 2014, 04:42:55 PM
 #309

Block Rewards!

https://i.imgur.com/uGROR1J.png

If your a fuck up and failed your High School Math classes, and cannot understand these graphs well then good luck.

Maybe im wrong, but your shown blockrate is 1 Block per 90 Seconds?  Time/Block 90 !

So shouldnt it be like this ?

  • 0.66 Blocks/Min
  • 40 Blocks/Hour
  • 960 Blocks/Day
  • 6720 Blocks/Week
  • 349440 Blocks/Year

?!?

P.S.:
Your Premine is 27777 Blocks high, how long it will take to mine you can calculate yourself Tongue

Roll Eyes

Can we trust the devs not to dump the premine when we can't trust them to type the right numbers into a spreadsheet?
Amph
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June 01, 2014, 04:48:52 PM
 #310

another shitty block reward/supply ratio

0.5% is huge in comparison to the a tiny 22 coins per block
fud_etra
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June 01, 2014, 05:20:01 PM
 #311

Too many voices raised but didn't see dev's reply. Come on!

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MinermanNC
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June 01, 2014, 07:25:25 PM
 #312


People are saying that it's all over with this coin.

Was it over when the Germans bombed Pearl Harbor?  Hell no!

Now who's with me?
WTF The Japs bombed pearl harbor!!! not those fuk'n Germans, however we dealt with both of them accordingly lol


 Cool Correct we did not bomb pearl harbor, we tried to bomb the freakin' rest, and got fucking BITSLAPT  Grin

.
LOL, and nothing against Germans either, my sons mother is mostly German, so he has a lot of German in him.... maybe that's where he gets his ornery "know it all" attitude from sometimes lol Smiley

*BTC: 1DiR25SPo84sThzTATr27EZEQZLt6hv6tG
MinermanNC
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June 01, 2014, 07:26:50 PM
 #313

So are we launching today?HuhHuh would be nice for an update

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oreoeater
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June 01, 2014, 07:56:17 PM
 #314

So are we launching today?HuhHuh would be nice for an update
+1
CryptoGretzky
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June 01, 2014, 07:58:33 PM
 #315

Seriously, if you are thinking of mining this... I have a bridge I can sell to you.

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June 01, 2014, 08:21:30 PM
 #316

1 2 3 ...begin... Grin
szenekonzept
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June 01, 2014, 08:31:24 PM
 #317


People are saying that it's all over with this coin.

Was it over when the Germans bombed Pearl Harbor?  Hell no!

Now who's with me?
WTF The Japs bombed pearl harbor!!! not those fuk'n Germans, however we dealt with both of them accordingly lol


 Cool Correct we did not bomb pearl harbor, we tried to bomb the freakin' rest, and got fucking BITSLAPT  Grin

.
LOL, and nothing against Germans either, my sons mother is mostly German, so he has a lot of German in him.... maybe that's where he gets his ornery "know it all" attitude from sometimes lol Smiley
:-)

szenekonzept
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June 01, 2014, 08:33:45 PM
 #318


maybe you should rename your coin in "mostbitslapedcoin"
  Grin


MinermanNC
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June 01, 2014, 08:35:44 PM
 #319

Well Just in case I have my miners ready to go lol....time will tell?

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CoinBounties
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June 01, 2014, 08:37:09 PM
 #320

BitSlapCoin is now on:
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