Sorry but i have to quote smoothie one time in order to debunk him. I'll clean up as much of the trash as i can.
People have a read below as it appears there are glaring facts about this coin that need to be made public.
Ok now it insta crashes when I type "setgenerate true".
Time to go to bed and try again next week?
Yeah, let's do that. I obviously need to do some more testing. Thanks everyone!
Best thing to do I guess. Please, confirm you won't be launching after some minutes/hours even if you fix it, and the sooner would be tomorrow, thanks.
Definitely not. I'll also follow up with this post when I do set a time.
"Definitely not."
I understood "Definitely not" to mean not within minutes/hours not that he would wait till the next day.
We all know he went on to launch it
a couple of hours later, despite his confirmation that he'd wait until the next day at the earliest.
He fixed it a couple of hours later (3 hours) and announced it would be relaunched (11pm EST) in a few more hours giving everyone plenty of time. Since crypto is global someone will always be sleeping when a new coin is launched. The more successful you are with Step 1, the more it will help your instamine in Step 2!
Step 2. INSTAMINE! INSTAMINE! INSTAMINE!
There is no set definition for instamine. You could call a highly inflationary coin like monero an ongoing instamine as DASH/Darkcoin and monero both hit 5 million coins at about the same time a few month's ago. Now DASH is at around 5,800,000 coins and monero is at around 9,400,000 coins.
The trend has been towards faster mined coins where they mine 4-5 million in the first 1-3 weeks. Some newer popular pos anon coins even mine all the coins in 2-3 days and people seem to like that. Several very popular coins are completely or almost completely premined, that does not mean a coin is a scam.
Tok said it best..."As far as the "rest of the world" is concerned, the entire crypto-economy was "instamined" and resides in the hands of a tiny number of fanatical geek adopters hoping to get rich. Thats why they don't buy in and won't buy in in many cases unless it's the only option left in an atrophying fiat landscape.
It's nice if you can get everything perfect at launch. If you didn't then the market will make up its mind about how much it mattered relative to the things you did get right.
Luckily in this case, there's plenty more of the latter than the former."
Time to instamine your coin! eduffield sets another fine example here with his Linux-only release. This ensures an optimal instamine period without any pesky windows miners getting in the way of it.
Eduffield set the bar very high, he managed to instamine 1.5 million coins in just the first 8 hours of launch. There was a windows miner compiled by users before the 11pm EST relaunch.We'll also take this opportunity to make a exaggerated claims in order to make the ANN sound better now that we're finished instamining:
- Say you invented "X11" even though you took 11 existing hash functions and chained them together.
Evan was the first to do that so yeah he did invent that. - Take CoinJoin's work, implement it in a HYIP masternode scheme. Call it "Darksend" and say you invented it.
LOL, There are way more differences than similarities with coinjoin. Decentralized ahead of time mixing and the way the denominations work are just a few. Coinjoin can be 100% tracked, Darksend can not, ask kristov atlas the guy who cracked coinjoin and gave a positive review of darksend (old version). Masternode blinding is next just to put the cherry on top. Step 4. When your fraudulent instamine gets noticed, start a "Vote" to airdrop an
additional 2 million coins
(created out of thin air by eduffield) to balance out the fraudulent instamine. Stop the vote early when a few of the other insider instamine scammers complain![/s]
I would like to have seen a relaunch because the "instamine" is the only real complaint the trolls have. The negative effects of the fastmine (cheap coins being dumped) has all but resolved itself now. Step 6. Release yet another gimmick that takes coins from miners and puts them in your pockets. Call them "Superblocks" because you're lame as fuck and actually think it sounds cool. Make sure to call it "decentralized voting"
even though 1 person owns over 50% of all masternodes and thus 50% of the vote! Ignore this fact.
Weak FUD and everyone knows it. Prove someone owns 50% of the masternodes or STFU