BitBar Didn't Pre-Mine, they were just conveniently ready - page 3.

rbdrbd

sr. member

Activity: 462

Merit: 250

Quote from: anderl on May 05, 2013, 02:59:15 PM

Quote from: mr_random on May 05, 2013, 02:54:12 PM

Quote from: BBQKorv on May 05, 2013, 02:52:00 PM

I do agree that launching a new coin should be made public atleast 7 days before the actual launch. Preferably couple of pools set up and an exchange to support it. Distributing the binaries and sources in a AES encrypted 7zip or rar package and finally revealing the key at specific already widely known time.

We just haven't seen this method yet, hopefully it comes the standard some day.

Even fairer than that, would be to launch the coin but only on a 'testnet' so people could practise mining it etc. You could even argue every coin is a scam coin for not doing these things.

public mining test. this follows good SDLC practices. Provide a User Acceptance Test of the cin. Give it a window of one week, gather data and release it. I like it!

Agreed. I would get behind supporting these kinds of recommendations. Have like a seal of approval from the community to any coin that is launched in a way that observes these recommendations.

achillez

hero member

Activity: 874

Merit: 1000

new alt coins should be announced they will be released X day. Not doing so is just another form of pre-mining

bnogal

full member

Activity: 179

Merit: 100

or just, first block diff 50x actual litecoin diff, second block diff adjustment to the total time passed to find the first block, after that, normal algorithm.

ymer

sr. member

Activity: 308

Merit: 250

Quote from: anderl on May 05, 2013, 02:59:15 PM

Quote from: mr_random on May 05, 2013, 02:54:12 PM

Quote from: BBQKorv on May 05, 2013, 02:52:00 PM

I do agree that launching a new coin should be made public atleast 7 days before the actual launch. Preferably couple of pools set up and an exchange to support it. Distributing the binaries and sources in a AES encrypted 7zip or rar package and finally revealing the key at specific already widely known time.

We just haven't seen this method yet, hopefully it comes the standard some day.

Even fairer than that, would be to launch the coin but only on a 'testnet' so people could practise mining it etc. You could even argue every coin is a scam coin for not doing these things.

public mining test. this follows good SDLC practices. Provide a User Acceptance Test of the cin. Give it a window of one week, gather data and release it. I like it!

Sounds good to me as well, finally mr random is using his senses, kudos

anderl

hero member

Activity: 714

Merit: 500

Quote from: mr_random on May 05, 2013, 02:54:12 PM

Quote from: BBQKorv on May 05, 2013, 02:52:00 PM

I do agree that launching a new coin should be made public atleast 7 days before the actual launch. Preferably couple of pools set up and an exchange to support it. Distributing the binaries and sources in a AES encrypted 7zip or rar package and finally revealing the key at specific already widely known time.

We just haven't seen this method yet, hopefully it comes the standard some day.

Even fairer than that, would be to launch the coin but only on a 'testnet' so people could practise mining it etc. You could even argue every coin is a scam coin for not doing these things.

public mining test. this follows good SDLC practices. Provide a User Acceptance Test of the cin. Give it a window of one week, gather data and release it. I like it!

mr_random

legendary

Activity: 1344

Merit: 1001

Quote from: BBQKorv on May 05, 2013, 02:52:00 PM

I do agree that launching a new coin should be made public atleast 7 days before the actual launch. Preferably couple of pools set up and an exchange to support it. Distributing the binaries and sources in a AES encrypted 7zip or rar package and finally revealing the key at specific already widely known time.

We just haven't seen this method yet, hopefully it comes the standard some day.

Even fairer than that, would be to launch the coin but only on a 'testnet' so people could practise mining it etc. You could even argue every coin is a scam coin for not doing these things.

BBQKorv

sr. member

Activity: 280

Merit: 250

I do agree that launching a new coin should be made public atleast 7 days before the actual launch. Preferably couple of pools set up and an exchange to support it. Distributing the binaries and sources in a AES encrypted 7zip or rar package and finally revealing the key at specific already widely known time.

We just haven't seen this method yet, hopefully it comes the standard some day.

anderl

hero member

Activity: 714

Merit: 500

its not that the difficult was set to zero or that the insiders were waiting at the starting line for the gun to go off.

Its that insider knowledge resulting in the insiders having a significant advantage over the public miners and the opportunity window quickly shut.

The difficult could have started at 0 or 100 the ram up in difficulty was the door being slammed shut after insiders mined the lion's share.

if I devised a coin that that started at difficulty 10 and jumps to difficulty 1,000,000 after 5 seconds and I know of the coin well ahead so that I can configure my machine to start as soon as the announcement happens its not a premine

but it is a scam as only the only one that owns the coin or the majority of it. It might as well be defined as premined.

Maybe coin developers and all parties involved should be outlawed from mining their creation. Maybe the community should define and insider mining as a scam. But I understand the human nature and that will likely not work.

Seems that the only think bitbar insiders are at fault for is making such a crappy currency. Their greed bested them as they made it so difficult to mine that they are the only ones holding the bag.

MaGNeT

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Waves | 3PHMaGNeTJfqFfD4xuctgKdoxLX188QM8na

I was sleeping when BitBar was launched.
Earth is divided into 24 time zones.

The only way to make it fair, is by announcing the coin 24 hours in advance, make clients/source available and restart blockchain at a set time.

But I'm not complaining, I just won't buy and/or support Bitbar because of the way it was launched.

ymer

sr. member

Activity: 308

Merit: 250

Quote from: zdarkazn on May 05, 2013, 02:43:51 PM

Quote from: ymer on May 05, 2013, 02:42:36 PM

So the solution is to monitor the ANN 24/7 to not miss the boat?

Some people are just too retarded.

Thats what a lot of people do. Sorry if you dont have time to monitor, that means you missed the boat. Lol

zdarkazn

newbie

Activity: 42

Merit: 0

Quote from: ymer on May 05, 2013, 02:42:36 PM

So the solution is to monitor the ANN 24/7 to not miss the boat?

Some people are just too retarded.

Thats what a lot of people do. Sorry if you dont have time to monitor, that means you missed the boat. Lol

ymer

sr. member

Activity: 308

Merit: 250

So the solution is to monitor the ANN 24/7 to not miss the boat?

Some people are just too retarded.

mr_random

legendary

Activity: 1344

Merit: 1001

Quote from: bnogal on May 05, 2013, 02:34:30 PM

solution, fork bitbar in a fair bitbar with an announcement with enough time to be ready (even having time to improve the rig) + a horrible high diff start so it can adjust from high to low first

the solution is easy.... but people like to argue....(and cry) if the fork is done correctly to be as fair as possible the price of bitbar would go to the shit while the price of the fair bit bar would go to the sky.

Oh and i tried to mine having only rejects... but i am happy with my giveaway 0.01 Tongue

PPCoin which BitBar is based on along with Novacoin had a high difficulty and 2 million were still created on day 1.

What's happened is here is pretty 'normal' for a cryptocoin launch.

BBQKorv

sr. member

Activity: 280

Merit: 250

I had no problem whatsoever to get mining in less than 2 minutes from seeing the first annoucement with my first rig, the thread did have like one reply at that point or so.
15 minutes to get mining a new scrypt coin and copypaste .conf Grin

No wonder some people are crying loud about missing the train.

Why don't you cry about missing bitcoin train back in the 2009?

Quote from: ymer on May 05, 2013, 02:10:22 PM

Official announcement on this board:
https://bitcointalksearch.org/topic/update-client-ann-bitbar-new-pow-pos-scrypt-cryptocoin-193519 Time: 05:30:04 PM

Announcement: 17:30:04
First Block mined: 17:32:10 (Difficulty 0.00) (Reward 1 Bitbar per block)
First Hundred blocks: 17:33:24
First 200 blocks: 17:36:16
First 300 blocks: 17:39:42
First Thousand blocks: 18:01:22
First 2000 blocks: 18:40:45 (Difficulty 0.012) (Reward 0.528202 per block)
.
.
.
.
Current Block 6000 (Difficulty 15.291) (Reward 0.164687 per block)

So from the time that it was announced to the time someone has time to read the announcement, download the client and configure the .config you need at least 15 minutes, by that time 500 Bitbar were already in the hands of the creator and the people that was aware before the announcement.

Now take into account that the reward is rapidly decreasing, the "conveniently ready miners" are hoarding a huge ammount of bitbars which were easily mined right after the announcement:

Here's one of said wallets:

http://btb.cryptocoinexplorer.com/address/BCJ49q7DHd4sCzwiQ1FDmTx7saxV7fDqX8

TruCoin

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DATABLOCKCHAIN.IO SALE IS LIVE | MVP @ DBC.IO

Quote from: hdclover on May 05, 2013, 02:18:39 PM

Quote from: ymer on May 05, 2013, 02:10:22 PM

So from the time that it was announced to the time someone has time to read the announcement, download the client and configure the .config you need at least 15 minutes, by that time 500 Bitbar were already in the hands of the creator and the people that was aware before the announcement.

I pity you who missed the boat, It took me less than 2 minutes to setup my miner and point to bitbar, and I'm pretty sure most people can do it in less than 1 min.

I agree if you couldn't set up to mine this in less than a minute you just need to stick with velcro shoes and eating paint chips. To think with all the alt coins everyone has had plenty of time to learn this very simple process

mr_random

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Activity: 1344

Merit: 1001

Quote from: Deprived on May 05, 2013, 02:30:01 PM

Quote from: mr_random on May 05, 2013, 02:26:36 PM

What you describe happens with most coins that launch

Let's look at some other coins:

Feathercoin launched with difficulty 0
Terracoin launched with difficulty 1 (just as low as 0 in effect)
Chinacoin launched with difficulty 0
Novacoin launched with difficulty 0

etc

So because other coins fucked it up, this one should too?

I don't mine ANY coin - so not fussed about missing any boats. But we could do with more genuine alt coins and less of the premine then pump then dump then vanish kind. Just shuffling around bits of existing coins, premining a load and hoping to sell them off before the coins dies isn't any useful kind of progress - it's been done to death already.

You really don't understand? It makes no sense to single out BitBar for having coins that were easier to mine on day one when this has happened so many times in the past with no controversy. Feathercoin, Chinacoin, Terracoin etc didn't have 2 or 3 trolls spamming 'scam premine scam scam easy coins' in every topic. I've seen jealously do things to people but this is insane.

i'm not saying it's the best launch but as far as alt crypto coin launches go, it's done nothing that most other launches haven't done. Even coins which launch with high difficulty (PPCoin) still ended up having 2 million coins being mined on the first day.

bnogal

full member

Activity: 179

Merit: 100

solution, fork bitbar in a fair bitbar with an announcement with enough time to be ready (even having time to improve the rig) + a horrible high diff start so it can adjust from high to low first

the solution is easy.... but people like to argue....(and cry) if the fork is done correctly to be as fair as possible the price of bitbar would go to the shit while the price of the fair bit bar would go to the sky.

Oh and i tried to mine having only rejects... but i am happy with my giveaway 0.01 Tongue

TheSwede75

full member

Activity: 224

Merit: 100

Quote from: hdclover on May 05, 2013, 02:22:41 PM

the pre-mined thing its all B-U-L-L-S-H-I-T

if you want a taste of bitbar you can just beg me for it, and I might consider it Grin

I would love a little piece of the bitbar pie if you want to be a mensch and send me some

BAehs7x97n68HcJ4sZagYxgmAtjvkdkogw

Thx in advance! If you send 'too much' I'll give some away

Balthazar

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Activity: 3108

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Quote from: mr_random on May 05, 2013, 02:26:36 PM

What you describe happens with most coins that launch

Let's look at some other coins:

Feathercoin launched with difficulty 0
Terracoin launched with difficulty 1 (just as low as 0 in effect)
Chinacoin launched with difficulty 0
Novacoin launched with difficulty 0

etc

And how many developers sent their instamine to NULL (0400000000000000000000000000000000000000000000000000000000000000000000000000000 000000000000000000000000000000000000000000000000000) pubkey?

http://novacoin.su/tx/9ffcf4b7c8a2e17a2776f7e8aaa0852ed2a7f80386bfc0d63991aac21dbdfe1e

I think that we are only ones who made this.

Deprived

hero member

Activity: 532

Merit: 500

Quote from: mr_random on May 05, 2013, 02:26:36 PM

What you describe happens with most coins that launch

Let's look at some other coins:

Feathercoin launched with difficulty 0
Terracoin launched with difficulty 1 (just as low as 0 in effect)
Chinacoin launched with difficulty 0
Novacoin launched with difficulty 0

etc

So because other coins fucked it up, this one should too?

I don't mine ANY coin - so not fussed about missing any boats. But we could do with more genuine alt coins and less of the premine then pump then dump then vanish kind. Just shuffling around bits of existing coins, premining a load and hoping to sell them off before the coins dies isn't any useful kind of progress - it's been done to death already.

Topic: BitBar Didn't Pre-Mine, they were just conveniently ready - page 3. (Read 4886 times)