Topic: [ANN][POW][ETHF][NO DEV FEES]EtherFact: A new coin like Ethereum network. - page 2. (Read 3372 times)

Any updates? I want to ask about the purpose of this project?

now post, website,... is edited

If you do not trust, you will not

https://www.etherfact.org/#/main

website doesnt work?

Nice job!
I think its a very big amount for this coin.
Dev, you will kill your project.

Just for fun I checked the address at Ethermine and it shows that it belongs to someone with an emailaddress ending in: ***[email protected]
Source: https://ethermine.org/miners/06219483e217c9ad479f76a95426f689ef4d5951/settings

The I checked the whitepaper and the first contact emailaddress is, guess what, [email protected].
Source: https://www.etherfact.org/static/whitepaper-en.pdf

The amount of coins on the address is a sixth of 185000000 (a number I believe was mentioned in the thread) so I guess that amount is split on 6 wallets.

Why hide all this? Even the whitepaper claims that there is no premine saying stuff like:
"EtherFact is a pure coin with no premine no dev fees"
"...is to allow the initial set of coins to be mined in a fair and decentralized manner."

Please explain so that I can "learn more about Ethereum".

Btw, 185000000 coins at the current rate at 7.5 coins/block would require mining 24.7 million blocks which would take something like 12 years to do. Sure, I did not count uncles but on the other hand the reward will drop after 5M blocks and keep dropping so even counting the uncles it will take like somewhere between forever and never. How is this "in a fair and decentralized manner"?

EDIT: Ok, I read the first again post and it does mention the 185M initial coins. But claiming it's a no premine coin and that it is fair and decentralized when it will take 190 years to mine the same amount of coins as the initial premine?

Just throwing in a quote from the Ellaism announcement:
Source: https://bitcointalksearch.org/topic/ann-ellaism-ethereum-network-with-no-premine-and-no-contentious-hard-forks-2168042
and from the Musicoin announcement:
... just to further show what I expect when I see the words "no premine".

Also the wallet owning the impossible 30+ million ETHF is not a random wallet without a private key. It has been used in the past to mine ETH on Ethermine.
Source: https://etherscan.io/address/0x06219483e217c9ad479f76a95426f689ef4d5951

Its a question of trust. We need to know all about you project. It will be better for the project.

Yes, let's do that. Everyone google the word premine and click on the first link you get. That will be https://www.cryptocompare.com/coins/guides/what-is-a-premine/

Here's a relevant quote (actually the full text on the link is an interesting read but it'll be to much to quote here):
"A premine is where a developer allocates a certain amount of currency credit to a particular address before releasing the source code to the open community. This is often done based on the reasoning that they need to pay for certain features such as listing on exchanges and development of core features such as block explorers."

Unless you are not the owner of the "first total supply" then it is, by definition, a premine. I'm not saying it is wrong to have a premine but advertising the coin as not being premined and then avoiding answering posts from people pointing out that things does not add up, to me that looks like there is a premine that you do not want people to be aware of. Maybe I (and the others raising this questions) does not know enough about Ethereum and it is just a misunderstanding, but in that case, please explain. I'd love to learn more about blockchains and cryptocurrencies.

You should learn more about Ethereum

ok, but who is the owner of this "first total supply"?
You?
You have to explain this.

If you would have declared this as a premine this would have been perfectly fine.  I read in your Q&A that you hold 185,000,000 ETHF. This is definitely a premine.

Like Ethereum it is called first total supply

where u guys buy act now?seems current exchanges trading act are of little reputation

Hope the project team will work hard and bring the project to success

It shouldn't be possible. No pre-mine, a block reward of 7.5 and blockheight 53600 gives 402000 coins (not counting uncle rewards). That's far from 30+ million coins even if you would include the uncle reward. Or am I missing something? Also this address has it's last transaction at block 7207 so I guess the total amount of coins at that point should have been somewhere around 50-60000.

Personally I'll stop mining this coin now as this has still yet to be explained by the devs. Why the silence?

Dev, could you explain this?
http://i.piccy.info/i9/a4187984634c0115c23a4acfce8c1836/1525695614/52543/1242410/ETHF_800.jpg
https://explorer.etherfact.org/addr/0x06219483e217c9ad479f76a95426f689ef4d5951
How it possible?

use custom network on myetherwallet
https://rpc.etherfact.org:4444
EIP155 support
ChainID: 1