10%? Signatum had the exact same pre-mine, so I don't get the point.
Didn't know Signatum had a pre-mine? It did. 2.5M coins, same as Magnatum. The first 1000 blocks had a fixed virtually 0 difficulty level, which amounts to a pre-mine.
Signatum's first 1000 blocks were minable by everyone even with CPU (this is the official reason for the low diff
).
Magnatum devs just mined shit ton of blocks before even announcing the coin.
So no, it's not the same.
Please refer to the following post:
https://bitcointalksearch.org/topic/m.20364321TL;DR
"as you can see he started mining before he posted the ANN"
"at the exact second of ANN was block 28"
"so somehow 28 different people mined 28 different blocks before the ANN was announced"
"1469 seconds (24 minutes) to mine the first 1000 blocks, and then difficulty kicked in. still fast to mine at that point but you get the point"
Also refer to the following post:
https://bitcointalksearch.org/topic/m.20311608"Uhmm.. sorry but there's nothing Fair and clean about the launch, the difficulty and block time was artificially set to very low values for the first 1000 blocks and the first "normal" miners got in after block 1000... So your artificial instamine brought you about 3.5m coins already... "
10%? Signatum had the exact same pre-mine, so I don't get the point.
Didn't know Signatum had a pre-mine? It did. 2.5M coins, same as Magnatum. The first 1000 blocks had a fixed virtually 0 difficulty level, which amounts to a pre-mine.
Signatum's first 1000 blocks were minable by everyone even with CPU (this is the official reason for the low diff
).
Magnatum devs just mined shit ton of blocks before even announcing the coin.
So no, it's not the same.
And you don't think the Signatum devs weren't mining like crazy? Regardless, I really don't see the difference between devs getting those pre-mine coins or the public. If anything, the devs are more likely to NOT sell them off.
And really, 2.5M coins amounts to 1 week of mining. Each week that passes makes that pre-mine less and less impactful.
Maybe you are right on this. I just checked the date of block 1 to block 1000, it is done in less than 30 minutes. About 2 seconds per blocks. But at least it is a real fair launch, because this thread is created before the date, and even devs were mining like crazy in these 30 minutes, there are still possible other miners into, unlike a real insta-mine, mine first launch later.
This thread was not created before blocks were mined. What is fair becomes subjective to each individual. Also refer to my previous response.
