10k reward in first unknown number of blocks which gives early miners so many coins. which is unfair as they also had lowdifficulty to start with
~16.360.000 IPBC were premined aka first 1636 blocks were 10.000 IPBC each aka "// Sorry. My bad."
Yeah...no. Early miners got a higher reward than they should have for less than 24 hours because of an initial error in the coin config. That's not a premine. The extra rewards were spread among all of the early miners, a premine goes right into the Devs' wallets. Big difference.
We all get that you weren't one of those early miners and that you're bitter about it, but stop with the trolling and FUD.
this is not trolling nor fud. I have been mining. In first few pages. dev said the 10k blocks that pool mined were a 'bug' and those pools need to update. And yet, they continue on the same chain which dev said was a 'bug' to give out 10k blocks. But if you're going to mask your lies by calling everything trolling and fud. I am going to stay away from this project and will ask everyone else do the same.
Funny, I wasn't even replying to you yet you seem to take it very personally. Calling it a "premine", which is the post I replied to, is FUD plain and simple by any normal definition of what a premine is.
As for "my lies" and the rest of your reply, I have no connection to the project at all. Go ahead and show me where anything I posted is factually incorrect.
There was an error made in the coin config. It resulted in 10K rewards for blocks mined in the first day of mining. The error was fixed within 24 hours of mining starting, and the pools were made aware that they needed to update. This affected approximately 1.6% of all coins to be mined, leaving 98.4% unaffected. Those are the facts.
there is no such thing as error resulting in a block reward giving 10k for 24 hours. I am sure it was as intentional as it was left out of the discussion of this thread. 1.8% of supply instamined by miners will be dumped on the investors the first day it hits the exchange. It would be nice if the information was written on the first thread. So we would know this coin has been instamined due to 'error'. But don't bother replying to this. This is an exercise in futility as the coin is already weeks old.
There is no such thing as an error like that? Do you even understand programming and coin configs? Yet you are "sure" that it was intentional without providing any evidence of the sort. It seems you also don't know the definition of instamine, all coins have a low diff in the beginning, this is not an "instamine". Is your user name ironic?
Not true. how can you have such a mistake that the block rewards for first x blocks are 10k per block? They are simply exlpained in the coin configs defined in main.cpp or main.h file(I am assuming the coin is written in c++ like the litecoin and bitcoin etc). Computers are not humans making mistakes. They follow simple instructions.
Having 470 coins per block, but 10k coins in the starting blocks is THE definition of an instamine.
I'm replying again... only because "stupid people", like you, are a pet peeve of mine.
Maybe... just maybe, if you were to actually read past posts, you would know the circumstances of what transpired.
I know what happened, because "I" read the posts.
So let me explain it to you, oh stupid/lazy one...
Someone noticed that with 10k reward, the total supply would end up being 10 billion instead of 1 billion.
That person posted his concern and the dev quickly made a "correction" to the code, which resulted in the lower block reward we have now.
So... "Your assertion" that the coin was insta-mined is false.
Your arguments are not supported by facts, so go away!
