[ANN]BitMiles (BTMi) Launched - First Cryptogenic Frequent-Flyer Miles

[siameze]

Looks like an OK coin, dev you may want to consider destroying some of that premine

Yup. I'm out.

[1714687692]

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[earlz]

bitmiles https://bitcointalk.org/index.php?topic=892298.0

Heritage: LTC 0.6.9ish, piggycoin template(https://github.com/piggycoin/piggycoin)

Problems:

* EXTREME: Premine is extremely excessive and will be more than the network will mint for over 2 years
** The premine being expressed as a percentage of the supply is deceiving, given that the full supply takes decades to mint
** See https://gist.github.com/Earlz/de3cc5f6ee85c7a69d53 to properly destroy a portion of this excessive premine

* MODERATE: genesis seed is not a news event

Notes:

Watermarks: uint64, pow, unknown

[qiwoman2]

This look like a really interesting coin, especially as we travel, well my family does. 

[br0ken]

a portion of the premine will be destroyed later today and details will be posted here. there will also be a giveaway over @ CCT.

[portice]

bitmiles https://bitcointalk.org/index.php?topic=892298.0

Heritage: LTC 0.6.9ish, piggycoin template(https://github.com/piggycoin/piggycoin)

Problems:

* EXTREME: Premine is extremely excessive and will be more than the network will mint for over 2 years
** The premine being expressed as a percentage of the supply is deceiving, given that the full supply takes decades to mint
** See https://gist.github.com/Earlz/de3cc5f6ee85c7a69d53 to properly destroy a portion of this excessive premine

* MODERATE: genesis seed is not a news event

Notes:

Watermarks: uint64, pow, unknown

Way too much, kill the premine now

[silverduck]

Huge Premine = 48000000! ! ! !
CAPE taken only the first month of the whole 22,320,000! ! !
I'm gone!

wow 

[jimlite]

Dev is going to burn a lot of the premine. Wait for his post.

[br0ken]

Dev is going to burn a lot of the premine. Wait for his post.

Thanks jimlite   that is correct ! we will be posting back here shortly.

[james42]

How much of premine is going to be burned?

[wisnon]

Dev did not destroy the integrity of any premine,
Everyone game is over, all go!

[br0ken]

Dev did not destroy the integrity of any premine,
Everyone game is over, all go!

Hi wisnon,

the premine burn is happening (within the next hour actually). there was a slight delay as the exact figures were discussed with a few guys (guys that have been dealing with such things for a long time). now that we have the figures, we will proceed. game may be over for you, but we are just getting started !

earlz will be confirming the burn shortly 

[br0ken]

Burn is officially done ! The total held is now only 0.08% (4.3 mil) to be used for

Bounty program (wallets, tip bots, branding packs, personalized features, nodes, pools, further development on wallet, site etc)
Social media and marketing (social media likes/shares/tweets/retweets/blog posts/pr/exchange votes (unlimited)/etc)
Faucets and giveaways

earlz will be confirming the burn shortly ! Total burned = 45654950

[earlz]

About 45 million coins have been DESTROYED of the premine. This occurred in transaction d6ab6f201c62c2a73981fc6f981a80742d552408bc70d53df30254a1e67a2727. This drops the premine down to a much more reasonable 5 million coins, which while still somewhat large, is no longer years worth of mining.

For reference, here is the transaction details. You can confirm that they were destroyed by the last vout of ~45 million being used for this transaction script: ""asm" : "OP_DUP OP_HASH160 0000000000000000000000000000000000000000 OP_EQUALVERIFY OP_CHECKSIG"," the long string of 0s means it is provably impossible to generate a public key matching this to spend the funds, and the funds are provably DESTROYED.

Code:

[earlz@test2 src]$ ./BitMilesd getrawtransaction d6ab6f201c62c2a73981fc6f981a80742d552408bc70d53df30254a1e67a2727 1
{
    "hex" : "0100000001b02461cc34461668cf8734c5fc0bcc3944a0f119e61bf4b50cd30ddac8f3c499000000006a47304402205391d7a9c34796f13c38ca5e1f519de928963b6e603c139a0030694b4438cde302205976d2fd653e94ccc13a88505dcf571447925757855d1b802096df75949c4e6901210331fc670d1b8d387ccd93d101b287802b8c1da9afd542acd74d34e4aac67d597fffffffff02000a2faf118701001976a914dcab874265889bb3c1508be0dad15bc434af1b5b88ac00e6b2234b3810001976a914000000000000000000000000000000000000000088ac00000000",
    "txid" : "d6ab6f201c62c2a73981fc6f981a80742d552408bc70d53df30254a1e67a2727",
    "version" : 1,
    "locktime" : 0,
    "vin" : [
        {
            "txid" : "99c4f3c8da0dd30cb5f41be619f1a04439cc0bfcc53487cf68164634cc6124b0",
            "vout" : 0,
            "scriptSig" : {
                "asm" : "304402205391d7a9c34796f13c38ca5e1f519de928963b6e603c139a0030694b4438cde302205976d2fd653e94ccc13a88505dcf571447925757855d1b802096df75949c4e6901 0331fc670d1b8d387ccd93d101b287802b8c1da9afd542acd74d34e4aac67d597f",
                "hex" : "47304402205391d7a9c34796f13c38ca5e1f519de928963b6e603c139a0030694b4438cde302205976d2fd653e94ccc13a88505dcf571447925757855d1b802096df75949c4e6901210331fc670d1b8d387ccd93d101b287802b8c1da9afd542acd74d34e4aac67d597f"
            },
            "sequence" : 4294967295
        }
    ],
    "vout" : [
        {
            "value" : 4299850.00000000,
            "n" : 0,
            "scriptPubKey" : {
                "asm" : "OP_DUP OP_HASH160 dcab874265889bb3c1508be0dad15bc434af1b5b OP_EQUALVERIFY OP_CHECKSIG",
                "hex" : "76a914dcab874265889bb3c1508be0dad15bc434af1b5b88ac",
                "reqSigs" : 1,
                "type" : "pubkeyhash",
                "addresses" : [
                    "bYr4qS3ZeEgZyi9ngzVvQ1Knigk5FeeYQc"
                ]
            }
        },
        {
            "value" : 45654950.00000000,
            "n" : 1,
            "scriptPubKey" : {
                "asm" : "OP_DUP OP_HASH160 0000000000000000000000000000000000000000 OP_EQUALVERIFY OP_CHECKSIG",
                "hex" : "76a914000000000000000000000000000000000000000088ac",
                "reqSigs" : 1,
                "type" : "pubkeyhash",
                "addresses" : [
                    "bCjGhELVMLPUWqrN5fK6Df8sVsuBWTKAVN"
                ]
            }
        }
    ],
    "blockhash" : "fdb52da9df5d3136b3851751948b430abda350f34ca3070f0316a7ad98cec6f5",
    "confirmations" : 7,
    "time" : 1418623898
} 

[jimlite]

Nice work dev, and thanks again Earlz.

[siampumpkin]

It is a nice concept. Interested to see if they can get some interest and acceptance. I will mine it for now. 

[AikaPool]

Hello!

Please, add my pool in OP  - http://aikapool.com/btmi

PROP, VarDiff, 1% FEE, 0% TX-fee

Single registration on all pools.
All coins balance on one page!

[wisnon]

Dev did not destroy the integrity of any premine,
Everyone game is over, all go!

Hi wisnon,

the premine burn is happening (within the next hour actually). there was a slight delay as the exact figures were discussed with a few guys (guys that have been dealing with such things for a long time). now that we have the figures, we will proceed. game may be over for you, but we are just getting started !

earlz will be confirming the burn shortly 

OK, thank you, I come back to mine!
Waiting for your plan!

[br0ken]

Hello!

Please, add my pool in OP  - http://aikapool.com/btmi

PROP, VarDiff, 1% FEE, 0% TX-fee

Single registration on all pools.
All coins balance on one page!

Thanks!  adding you to the OP now.

[br0ken]

Dev did not destroy the integrity of any premine,
Everyone game is over, all go!

Hi wisnon,

the premine burn is happening (within the next hour actually). there was a slight delay as the exact figures were discussed with a few guys (guys that have been dealing with such things for a long time). now that we have the figures, we will proceed. game may be over for you, but we are just getting started !

earlz will be confirming the burn shortly 

OK, thank you, I come back to mine!
Waiting for your plan!

You're welcome. Thanks so much! 

[br0ken]

Hey guys

don't forget to have a look at our bounty program (current bounties) to get your hands on some generous BitMiles (BTMi). if you think you can assist with anything - we'd love to hear from you!

https://cryptocointalk.com/topic/24603-btmi-bounty-program/