leptoon
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Activity: 210
Merit: 10
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May 26, 2014, 03:34:51 AM |
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Maybe they decided to take 2.5% of the 60,000,000 coins that will eventually be mined (in about 5 or 6 years from now) ,and sort of "forgot" to mention that tiny detail  I assumed it was 2.5 % of the coins that were going to be mined via PoW, not the total number of coins after 5 years. Its still a pretty big premine. If the dev is smart he will PoS mine with the premine and not crush the coin. If the dev is a scammer he will just dump the coin, cash out and leave the community to "take-over" the coin. I don't think the dev is going anywhere. I like the idea of the coin so I'll keep mining it and hope for the best. |
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tim14
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May 26, 2014, 03:35:34 AM |
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asiacoin dev back from vacation?  |
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JohnDorien
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May 26, 2014, 03:42:38 AM |
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Simple Block Explorer online:
hyperbe.cipherpool.com
My hyper address: HGwdc22y1LRpgoKMSDSMBJe7KYep3ZoVDV
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leptoon
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Activity: 210
Merit: 10
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May 26, 2014, 03:46:06 AM |
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tokyoghetto
Legendary
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Activity: 1232
Merit: 1000
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May 26, 2014, 03:47:27 AM |
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Looking at the block explorer it seems like the Dev premined 1.5 million Hypercoins.
which would be 2.5 % of 60 Million.
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tokyoghetto
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Activity: 1232
Merit: 1000
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May 26, 2014, 03:48:16 AM |
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I already rented miners so I am sticking with this. Dumping as soon as i can get out at a profit. business as usual. |
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leptoon
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Activity: 210
Merit: 10
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May 26, 2014, 03:51:33 AM |
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I already rented miners so I am sticking with this. Dumping as soon as i can get out at a profit. business as usual.
Depending on what the dev does, I probably won't be dumping this one. I like the idea of using it for games and I'm a sucker for space MMOs, so I'll be keeping an eye on it. |
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johndec2
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May 26, 2014, 04:14:22 AM |
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So it's actually a 33.3% premine + millions more with PoS. Nice work if you can get it.  Also there will be 4.5 million coins in circulation at the end of PoW, not 3 million, which bumps the numbers up to more like 90 million after 5 years. |
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leptoon
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Activity: 210
Merit: 10
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May 26, 2014, 04:22:23 AM |
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So it's actually a 33.3% premine + millions more with PoS. Nice work if you can get it. Also there will be 4.5 million coins in circulation at the end of PoW, not 3 million, which bumps the numbers up to more like 90 million after 5 years. So the thread needs to be reworded. They might be able to adjust the total number of coins to extend the PoW stage. |
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leptoon
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Activity: 210
Merit: 10
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May 26, 2014, 05:56:27 AM |
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The net hash is way down... Either I'm going to make a lot of profit when this coin hits exchanges, or it's dead and gone and I should switch my rigs. It's a shame the dev logged out right before the 1.5 million premine was discovered so he hasn't been around to defend himself. The OP does look really good so I still have hope.  |
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IMJim
Legendary
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Activity: 1260
Merit: 1000
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May 26, 2014, 06:17:10 AM |
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The net hash is way down... Either I'm going to make a lot of profit when this coin hits exchanges, or it's dead and gone and I should switch my rigs. It's a shame the dev logged out right before the 1.5 million premine was discovered so he hasn't been around to defend himself. The OP does look really good so I still have hope. was thinking the exact same thing myself |
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Kergekoin
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May 26, 2014, 06:32:39 AM |
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The net hash is way down... Either I'm going to make a lot of profit when this coin hits exchanges, or it's dead and gone and I should switch my rigs. It's a shame the dev logged out right before the 1.5 million premine was discovered so he hasn't been around to defend himself. The OP does look really good so I still have hope. OP is a big mess with clearly false facts represented. Which part of the OP exactly looks good to you? |
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johndec2
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May 26, 2014, 08:19:12 AM |
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The question I want answered is the massive misrepresentation of the premine figure. They will say that it is only 2.5% of the expected total after 5 years which is wrong on two fronts.
1. After PoW they will have over 33% of the total coins, which will be able to be staked like any other coins.
2. Therefore after 5 years they will still own over 33% of the total coin supply, assuming they don't dump and run.
So where do you get 2.5% from?
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johndec2
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May 26, 2014, 09:38:40 AM
Last edit: May 26, 2014, 10:10:12 AM by johndec2 |
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HYPERfuture is online and busy editing the OP. Mate you forgot to change 2.5% to 33%.  EDIT: And he's gone. Changed the OP to say 4.5 million during the PoW stage instead of 3 million which pretty much admits the attempted hidden premine. No explanations, no excuses, nothing. Mine at your own risk. I'm switching my miners back to a coin with honest and open devs. |
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HYPERfuture (OP)
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May 26, 2014, 10:12:21 AM
Last edit: May 29, 2014, 07:05:46 PM by HYPERfuture |
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Simple Block Explorer online:
hyperbe.cipherpool.com
My hyper address: HGwdc22y1LRpgoKMSDSMBJe7KYep3ZoVDV
HYPER sent for blockexplorer bounty! In regards to the premine concerns: - The premine is 2.5% of the total coins which will be in circulation in 10 years - 60 000 000 coins - this is when HYPER moves to PoS phase 3 which is 2% annual interest, calculated and compounding daily. - The premine is not designed to be used to be "dumped" (that would be bad for those of you who are supporting this coin, and also for our projects) but is for quite the opposite actually, and includes the following: 1.) Market Stabilization Fund which will be used on the exchanges to try and ensure HYPER has a strong and growing exchange rate on the exchanges. With this fund we should be able to supplement buying support on the exchanges and set a strong floor for the HYPER price. We need a stable HYPER price to make this a viable currency. 2.) General marketing, development and promotion of the coin (coins used in this way will be distributed to those who help HYPER with its marketing efforts - this has already begun) 3.) The development of our space based online MMO. We will pay developers in HYPER to work on this project. The project will use open source tools and frameworks, it probably won't be the next EVE online (although depending on the future market cap maybe we can fund something similar), but will be an MMO strategy game where players earn HYPER from their growing empire. A substantial amount of HYPER is needed to both pay developers and also the players who will earn HYPER by playing. 4.) The forum will have many ways for people earn HYPER, including by playing RPG's by posting on the forum and also through contributing to the project. 5.) Building partnerships with other online games / virtual worlds / services / webmasters / MMOs who will use HYPER in their game worlds. Unfortunately 2.5% of 3 000 000 would not have been enough to fund these projects. Unlike other coins we actually want to spend and spread around the premine to further the development of HYPER and its projects. If anyone wants to contribute to the project they can send me a PM as we aim to be generous with the premine. I hope that clears this up for everyone. Thank you to everyone who is supporting HYPER. The website and forum are our current priority, before we focus on getting HYPER on exchanges, beginning a PR campaign and recruiting our team to work on the MMO. |
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johndec2
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May 26, 2014, 10:44:04 AM |
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In regards to the premine concerns:
- The premine is 2.5% of the total coins which will be in circulation in 10 years - 60 000 000 coins - this is when HYPER moves to PoS phase 3 which is 2% annual interest, calculated and compounding daily.
Nice try but the fact is in 2 weeks you will have over 33% of the coins in circulation. Now I know a lot of those are going to be spent. I happened to find a compounding interest calculator online and it tells me that in 5 years (not 10), 1.5 million coins x 60% per year compounded daily = 30,054,189 coins. That is an average earn from PoS of (30,054,189 - 1,500,000 = 28,554,189 / 1826 days) = 15,637 coins per day. Lets say you blow 1/2 on giveaways. Still leaves you nearly 8,000 coins per day. Wish I'd thought of it |
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tokyoghetto
Legendary
Offline
Activity: 1232
Merit: 1000
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May 26, 2014, 11:41:36 AM |
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Simple Block Explorer online:
hyperbe.cipherpool.com
My hyper address: HGwdc22y1LRpgoKMSDSMBJe7KYep3ZoVDV
HYPER sent for blockexplorer bounty! In regards to the premine concerns: - The premine is 2.5% of the total coins which will be in circulation in 10 years - 60 000 000 coins - this is when HYPER moves to PoS phase 3 which is 2% annual interest, calculated and compounding daily. - The premine is not designed to be used to be "dumped" (that would be bad for those of you who are supporting this coin, and also for our projects) but is for quite the opposite actually, and includes the following: 1.) Market Stabilization Fund which will be used on the exchanges to try and ensure HYPER has a strong and growing exchange rate on the exchanges. With this fund we should be able to supplement buying support on the exchanges and set a strong floor for the HYPER price. We need a stable HYPER price to make this a viable currency. Do you even have experience running a fund? We don't know who you are, at this point you have earned ZERO trust. Since we don't know if you will dump the coins or not I volunteer to do the following to help the coins. Establish the amount of the premine that will be used for the Market Stabilization Fund. Send me the amount, I will run the fund. In doing so I can act as an escrow for the coins and you can focus on development in other areas. I am trusted member, you are not. The fund in my hands will add value to the coins. The fund in your hands will make people worry because we don't know you, you can dump at any time. I have a track record. You can check out my HBN Investment Journal. Its 100% transparent and block-chain verifiable. I am more than qualified to take on the task. This is how I will run the fund. 1. Establish a PoS mining operation using the money from the fund. 2. Use PoS mined coins to inject liquidity into the market. 4. Use a portion of the coins to pay for a cryptostocks listing. 3. Open a Cryptostocks.com listing in BTC that is connected to the fund 4. Convert a portion of the PoS mined coins into BTC 5. pay out that portion in dividends to stockholders (either weekly or monthly) 6. The rest gets reinvested into the fund to support market-making activities. I can bring value to the coin. This will also give you more time to focus on other areas, as well as bring more confidence to the coin. The fund will add liquidity to the open market. It will payout dividends to stock holders. It will add value to the coin, as I will be able to make a proper market and help the coin discover its true value. If the people involved with this coins agree let me know. I can assure you that this community will not be disappointed. |
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luckygenough56
Legendary
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Activity: 1526
Merit: 1012
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May 26, 2014, 11:47:34 AM |
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33% premine lol. Record beaten. Next !
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tokyoghetto
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Activity: 1232
Merit: 1000
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May 26, 2014, 11:51:35 AM
Last edit: May 26, 2014, 12:03:38 PM by tokyoghetto |
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33% premine lol. Record beaten. Next !
This is what I mean dev. As long as you hold on to the huge premine, you will get plenty of this. Your coin will be dead in the water unless you act fast. This is starting to look as bad as asiacoin and orbitcoin. People are already starting to walk away and 48 hours hasn't even passed yet. don't be greedy and know your limits. No one can do everything at once. I am offering you 10 years of live market trading experience with a verifiable altcoin journal. Plus I have a reputation here as a trusted member of the altcoin community. Send me a 1 million coins to establish the fund. I am sure that 500,000 is enough for the rest. In the future if you need more capital I can liquidate a portion of the fun to pay for bounties or development of games and services. I will charge a percentage + take stock for my services. |
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johndec2
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May 26, 2014, 12:17:50 PM |
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Now I wouldn't know tokyoghetto if I fell over him but he is right about one thing. You idiots destroyed all trust that anyone may have placed in you by trying to deceive everyone with blatant lies/devious omissions in the OP. If you were dumb enough to think nobody would notice, you are too dumb to trust with 1 coin, let alone 1.5 million coins.
If you want this coin to last another day you seriously have to do something. You have 2 options in my opinion:
1. Put the premine in the hands of a trusted third party or
2. Burn most of the premine.
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