Topic: [BITZ] The Only 10% PoS Crypto to have - page 16. (Read 81866 times)

I guess it comes down to whether you believe that this coin will be worth more than 500 sats in a year or so

I'm not sure to do with the instamine. It's too bad. This looked like a good coin with a quality dev.

Maybe you could add in a new premine and double all of the other coins after the instamine. That would minimize the instamine to less than 1 or 2%.

Block 1000
https://chainz.cryptoid.info/bitz/block.dws?1000.htm

to

Block 2000
https://chainz.cryptoid.info/bitz/block.dws?2000.htm


was mined in 7m22s
That's a lot of blocks.



On a good note, the block reward wasn't extra large in the beginning so the difficulty adjustment didn't have too big of an effect. It only caused an instamine of less than 5% for the first miners before the difficulty went up 10x to distribute the coins out better to miners.

Why don't you tell us what an instamine is? Do you know?

You said "It looks like the difficulty adjustment algorithm wasn't implemented very well" - why do you say that, an algorithm is found in the code and why was it not implemented well?

ED: early on the difficulty was low, later on the difficulty is high and the hashing power drops etc. its normal

I'm looking at the blockchain, not the code.

I don't think that was the problem, the problem was that a lot of hashing power was thrown at it from the go. Where in the code are you referring to?

ED: This was just before the end of the PoW and the difficulty was 37 something and the block time was around 3 minutes, its not unusual

I guess I did, but I never analysed the block chain but I will do that now. I was busy at the launch with getting the wallets out, the source code pushed and the website up etc. and renting rigs as Miningrigrentals. People complained about the difficulty not adjusting properly in the beginning. After a while it all settled and it has been fine since. If you read the posts around the launch you will see. We had two failed launches before we got it off, so we had to reset the code twice.

I never analysed the blockchain at that point. I am extracting data now and will post some data on the first blocks..

It looks like the difficulty adjustment algorithm wasn't implemented very well with it.

The blocktimes are super long around this block:
https://chainz.cryptoid.info/bitz/block.dws?9864.htm


Early on in the blockchain the blocktime was really fast.

No, I want to do it properly this time. First we define what instamine means and then we look at the blockchain and analyse the blockchain and see if this was an instamine or not.

Whoever wants to discuss the concept of instamine, please define what an instamine is first.

So, someone define instamine?

Was this coin instamined?

I hate instamines. They're a scam.

wow...why waist time 500sat coin and ppl talk about instamine?

Go to dash ann and talk about instamine plz lol

Ok, so let's discuss the so called instamine but lets get the terms straight and set out what instamine means. In your opinion how would you define the term Instamine? I'm going through the block chain and I'll get you some data, just tell me what you understand by the term instamine.

ED: I haven't analysed this so called Instamine in great detail before but I will do it now.

I won't justify everything with an answer as I believe that thinking individuals can figure it out for themselves, but I will say this once:

1) I did the Coinsource verification now as this is what you among others wanted me to do. You thought I was hiding but I am not. I was planning to do it anyway as Bittrex has asked for it. The Coinsource verification is what it is and you make of it what you will. I do believe it shows that I am not out to defraud someone as you can now sue me and get my details.

2) I am not affiliated with anyone on the Bitcointalk Forum. I do NOT know fartbags or anyone else on this forum. I challenge you to prove otherwise.

3) With regards to the so called instamine, why don't you have a look through the block explorer and you will figure out exactly where the first 3000 or so blocks went. I launched Bitz with no ICO and no premine as you can see from the sourcecode. If you believe there was a premine then please tell me where in the code this is. At launch I mined at Suprnova.cc with others and I certainly did not start mining before anyone else, I was a bit behind. The first 3000 or so blocks went too fast before the difficulty readjustment kicked in properly. This is the first coin I have launched and it wasn't perfect to start with. I did not have a single Bitz at launch and I challenge you to prove otherwise. I mined Bitz for a few days and I have pledged a total of 100,000 Bitz to be used as payments to anyone who contributes to the project. Nobody has offered anything yet.

4) I have paid for everything out of my own pocket and I have never asked anyone for money up front. I have bought Bitz myself on C-Cex and YoBit as an investment as I obviously believe in this project. I am not hiding anything and I am not sitting on the rewards for the first 3000 blocks or so. I challenge you to prove otherwise.

If you feel like bashing the coin and the thread then go ahead, there is no censorship here. If you want to challenge what I said then please back it up with some evidence otherwise you just embarrass yourself.

6/7 rating is really good. It's nice to hear there's a second person helping in a minor role.

2 devs is like really good for a coin! It's sad but true. 1 dev is amazing for a coin to have. LOL

SIGU is on bittrex. It would be nice if you could help out BITZ and get it listed on bittrex!

people here should check out https://bitcointalksearch.org/topic/--1028433 decentralized file system maybe the bitz dev could partner up with the Sigu dev.

thats great make the logo on op bigger plz

We finally got out rating: