★★ ▀▄▀▄▀ BITBAR is not pre-mined !!! ▀▄▀▄▀ ★★

hdclover

hero member

Activity: 1120

Merit: 501

www.bitcoin.org

Quote from: MaGNeT on May 07, 2013, 01:15:32 AM

Any coin that isn't announced at least 24 hours before launch, is pre-mined in my consideration.

The funder conveniently had his miners ready while others had to download client, setup miners, etc.
And what about the 24 timezones? When I woke up and read the forum, the chain was up for 6.5 hours already.

But I'm not angry, I just won't touch Bitbar.

Satoshi nakamoto has never announced Bitcoin project to public 24 hours before he launched it.

MaGNeT

legendary

Activity: 1526

Merit: 1002

Waves | 3PHMaGNeTJfqFfD4xuctgKdoxLX188QM8na

Any coin that isn't announced at least 24 hours before launch, is pre-mined in my consideration.

The funder conveniently had his miners ready while others had to download client, setup miners, etc.
And what about the 24 timezones? When I woke up and read the forum, the chain was up for 6.5 hours already.

But I'm not angry, I just won't touch Bitbar.

MoneyCoin

newbie

Activity: 14

Merit: 0

100 BTC per 1 BTB sounds good to me

Praxis

legendary

Activity: 1118

Merit: 1004

This seems legit: the " ▀▄▀▄▀ ★★ " definitely adds to the credibility.

farlack

legendary

Activity: 1310

Merit: 1000

Quote from: reb0rn21 on May 05, 2013, 04:14:07 PM

ppl hating are those which are late in mining so they want it to fail, as next brick/coin hit the they be first and then they will hype

btw i am also late have just 500k/s and no solo mining success

There was no late mining, 99% were mined before you can cook a hamburger. That's hardly late, more like a team of people to mine asap.

Anyone notice that there are 2500 are mined and like 10 have been traded...

Littleshop

legendary

Activity: 1386

Merit: 1004

Quote from: bitterdog on May 05, 2013, 05:39:28 PM

Instamined

+1

GSnak

full member

Activity: 182

Merit: 100

Quote from: Sou on May 05, 2013, 04:38:50 PM

Although i've only been on the cryptocurrency scene for a couple months i don't believe i've ever seen a coin (or bar) build such a disdain towards it so quickly; the only emotional response equal to the immediate hate seems to be the hyperadvocacy of its adopters. Regardless of the position chosen, any argument is just bringing more awareness to the coin - i'm curious to see where all this momentum will lead.

Anytime people are getting more for a five minute old coin than one BTC people are going to lay an egg. The release was flawed, it wasn't premined but releasing the coin with zero difficulty was stupid after everyone saw what happened with FTC. Deliberately stupid? I don't know, probably. But that didn't stop any other junkcoin (no offense to Junkcoin) from making money.

Looking at the blockchain most of the early miner wallets have been divested, to whom who knows but regardless of who has them you're never going to see the market flooded with thousands of BTB. I guess we'll find out whether that matters or not.

bitterdog

hero member

Activity: 728

Merit: 503

dApps Development Automation Platform

Instamined

Barnacle_Ed

sr. member

Activity: 271

Merit: 250

From another thread:

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

So it might not have been "premined", but it was sure as hell "tailored to REALLY benefit extremely-early adopters". That still reeks of a scam to me.

crymo

newbie

Activity: 56

Merit: 0

this coin is very succesfull scam Cheesy

99% mined after few moments of release hahah

it onlz takes 1 post on reddit (from new user) http://www.reddit.com/r/bitbar/comments/1dmino/bitbar_exchange_is_in_the_works/
so people think that exchenge will be out so they are willing to pay their hard earned bitcoins...

well played

Sou

full member

Activity: 210

Merit: 100

(Bitcoin related text here)

It's arguable that every last one of these coins (yes, even Bitcoin) holds monetary incentive for the person(s) behind the coins development. The bigger cryptocurrency picture at large comes with a whole host of implications that could very well shift some of the social and economical foundations of the world as a whole, but when it comes down to the day to day most people are expecting to be compensated for their time spent. You can have to nobelest vision of making a positive contribution to the collective, but to say you expect to leave at the end of the day having not benefited is simply not true. I guess the real question is exactly how much is fair.

davidpbrown

sr. member

Activity: 531

Merit: 260

Vires in Numeris

Quote from: skull88 on May 05, 2013, 04:48:35 PM

Not to talk about SolidCoin, who can ever forget those Grin

realsolid at http://www.mcxnow.com is looking to bring back SC! .. some people are forever the optimists.

relm9

hero member

Activity: 840

Merit: 1000

Quote from: ?? on ??

Quote from: skull88 on May 05, 2013, 04:48:35 PM

People have really short memory here, never seen a coin with so much debate?
There was more debate about Feathercoin 2 weeks ago which sold at 0,1 btc when it hit btc-e and is now 0,0031 Cheesy

Not to talk about SolidCoin, who can ever forget those Grin

Well, I wasn't around here for SolidCoin. Seeing way more controversy with BitBar than Feathercoin (or CHN), though...

skull88

hero member

Activity: 683

Merit: 500

People have really short memory here, never seen a coin with so much debate?
There was more debate about Feathercoin 2 weeks ago which sold at 0,1 btc when it hit btc-e and is now 0,0031 Cheesy

Not to talk about SolidCoin, who can ever forget those Grin

00400

member

Activity: 70

Merit: 10

This is just stupid. Ok, it's not premined. But why couldn't there be announcement at least 24 hours before? Why not make it damn hard to mine in the begining? Why split such a big share of all bars among few people?

The only good thing about bitbar is that it really shows how fishy is the value of all cryptocoins. It's up to everyone to get that (or not).

relm9

hero member

Activity: 840

Merit: 1000

Quote from: Sou on May 05, 2013, 04:38:50 PM

Although i've only been on the cryptocurrency scene for a couple months i don't believe i've ever seen a coin (or bar) build such a disdain towards it so quickly; the only emotional response equal to the immediate hate seems to be the hyperadvocacy of its adopters. Regardless of the position chosen, any argument is just bringing more awareness to the coin - i'm curious to see where all this momentum will lead.

I have to agree. Never seen an ALT launch stir up so much debate. Will be interesting to see where it goes a month from now.

davidpbrown

sr. member

Activity: 531

Merit: 260

Vires in Numeris

It could become something.. but there's an offer of 2.5 BTB for 2 BTC atm.. after what a day..

I think the absurdity has turned through several levels of irony.

I'll give you 3 Cuils for 1 bitbar right now..

Sou

full member

Activity: 210

Merit: 100

(Bitcoin related text here)

Although i've only been on the cryptocurrency scene for a couple months i don't believe i've ever seen a coin (or bar) build such a disdain towards it so quickly; the only emotional response equal to the immediate hate seems to be the hyperadvocacy of its adopters. Regardless of the position chosen, any argument is just bringing more awareness to the coin - i'm curious to see where all this momentum will lead.

ymer

sr. member

Activity: 308

Merit: 250

Quote

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

https://bitcointalksearch.org/topic/bitbar-didnt-pre-mine-they-were-just-conveniently-ready-196160

skull88

hero member

Activity: 683

Merit: 500

Quote from: reb0rn21 on May 05, 2013, 04:14:07 PM

ppl hating are those which are late in mining so they want it to fail, as next brick/coin hit the they be first and then they will hype

btw i am also late have just 500k/s and no solo mining success

Weird, I tell the same with every crapcoin released, even post it right after the announcement when I could still mine the shit out of them.

Topic: ★★ ▀▄▀▄▀ BITBAR is not pre-mined !!! ▀▄▀▄▀ ★★ (Read 2112 times)