[BTB] The BitBar Information Thread - page 68.

Deprived

hero member

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Merit: 500

Quote from: rbdrbd on May 05, 2013, 02:25:22 PM

The difficulty for Feathercoin was also at 0 at launch. In fact several coins launched that way. 3 million Feathercoins were mined in the first day (there are currently 6.4 million FTC as of 5/5/13). 2 million PPCoins were mined in the first day. This makes BitBar's launch very similar to other launches of established coins with a trading market behind them.

So you KNEW the problem had occurred with other launches - so did nothing to fix it?

Smells more like a poor attempt at justifying an effective pre-mine than a genuine confession of ignorance/incompetence.

Here's how you should launch new coins:

1. Announce the launch and provide downloadables at least a day before it gos live.
2. Start off with a reasonable difficulty.

Not exactly hard to work out. But of course then there'd be no pre-mine to sell off - which would defeat the whole object of starting a new coin I guess.

mr_random

legendary

Activity: 1260

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Quote from: ymer on May 05, 2013, 03:18:05 PM

Why set difficulty at 0 if the purpose of the bitbar is to be very rare and hard to get? Creator couldnt have been so naive Roll Eyes

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

Are you seeing a pattern yet? Please stop trolling

ymer

sr. member

Activity: 308

Merit: 250

Quote from: rbdrbd on May 05, 2013, 03:12:44 PM

Quote from: ?? on ??

Quote from: rbdrbd on May 05, 2013, 03:04:50 PM

Quote from: ?? on ??

It is less scam than some other altcoins but it is still a scam.

1. 60 blocks after the genesis block were premined
2. Difficulty for the first 735 blocks was so low that it can't even be shown on the explorer
3. For the premine period, 59.644201 BTB were generated in little less than 4 minutes
4. For the difficulty under 0.001 period excluding the premine period, 600.324139 BTB were created in little more than 20 minutes

http://btb.cryptocoinexplorer.com/chain/BitBar?hi=736&count=737

Addressed here.

Nice attempts at justifying the scam, but they won't work except with complete retards. It would be cool to see judge reaction on your saying "I killed the guy because
that other killed some other guy earlier and ended (seemingly) unpunished".

If you are going to criticize the difficulty at launch, then it's a larger issue with the launch of many/most altcoins (early adopter advantage). Why single bitbar out? The premine appears to be an honest mistake and the guy isn't profiting off of it.

Why set difficulty at 0 if the purpose of the bitbar is to be very rare and hard to get? Creator couldnt have been so naive Roll Eyes

rbdrbd

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Activity: 462

Merit: 250

Quote from: wachtwoord on May 05, 2013, 03:09:14 PM

Smart to create a self-moderated thread so you can remove all the scam accusations.

Anyway, enjoy your scamcoin

No, only to remove useless posts like this. This is as useless as me saying "BITBAR IS THE NEXT GOLD 2.0, BUY NOW!!!". No solid information. subSTRATA to his credit has put some information forth, and I've addressed it to the best of my ability. He did have some good points. Yes, there was a small premine that has been honestly addressed from what I can tell (bounty is available for the exchange), and the difficulty at launch is similar to other altcoins like Feathercoin.

rbdrbd

sr. member

Activity: 462

Merit: 250

Quote from: ?? on ??

Quote from: rbdrbd on May 05, 2013, 03:04:50 PM

Quote from: ?? on ??

It is less scam than some other altcoins but it is still a scam.

1. 60 blocks after the genesis block were premined
2. Difficulty for the first 735 blocks was so low that it can't even be shown on the explorer
3. For the premine period, 59.644201 BTB were generated in little less than 4 minutes
4. For the difficulty under 0.001 period excluding the premine period, 600.324139 BTB were created in little more than 20 minutes

http://btb.cryptocoinexplorer.com/chain/BitBar?hi=736&count=737

Addressed here.

Nice attempts at justifying the scam, but they won't work except with complete retards. It would be cool to see judge reaction on your saying "I killed the guy because
that other killed some other guy earlier and ended (seemingly) unpunished".

If you are going to criticize the difficulty at launch, then it's a larger issue with the launch of many/most altcoins (early adopter advantage). Why single bitbar out? The premine appears to be an honest mistake and the guy isn't profiting off of it.

vlaoou321

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Activity: 266

Merit: 250

i am big fans

GSnak

full member

Activity: 182

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Quote from: ?? on ??

It is less scam than some other altcoins but it is still a scam.

1. 60 blocks after the genesis block were premined
2. Difficulty for the first 735 blocks was so low that it can't even be shown on the explorer
3. For the premine period, 59.644201 BTB were generated in little less than 4 minutes
4. For the difficulty under 0.001 period excluding the premine period, 600.324139 BTB were created in little more than 20 minutes

http://btb.cryptocoinexplorer.com/chain/BitBar?hi=736&count=737

Are you typing that out each time, or copy/pasting it?

wachtwoord

legendary

Activity: 2324

Merit: 1125

Smart to create a self-moderated thread so you can remove all the scam accusations.

Anyway, enjoy your scamcoin

ymer

sr. member

Activity: 308

Merit: 250

Quote from: mr_random on May 05, 2013, 02:56:28 PM

Ymer, so now you have a problem with people mining the coin AFTER the coin has been publicly announced and it's fair game for anyone to mine? Dear God.

Everyone knows the hour or two when a coin launches you get a ton of coins at a silly rate. It's the early adopter advantage. While you are studing Blockchains, look at the most recent coin favourite - Feathercoin, approximately 200k created in the first 2 hours. This is one reason why you get people with hundreds of thousands of Litecoins, PPCoins etc.

That's curious that you don't call it pre-mining:

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 minuts, by that time 500 Bitbar were already in the hands of the creator and the people that was aware before the announcement.

No Pre-mine?

rbdrbd

sr. member

Activity: 462

Merit: 250

Quote from: ?? on ??

It is less scam than some other altcoins but it is still a scam.

1. 60 blocks after the genesis block were premined
2. Difficulty for the first 735 blocks was so low that it can't even be shown on the explorer
3. For the premine period, 59.644201 BTB were generated in little less than 4 minutes
4. For the difficulty under 0.001 period excluding the premine period, 600.324139 BTB were created in little more than 20 minutes

http://btb.cryptocoinexplorer.com/chain/BitBar?hi=736&count=737

Addressed here.

GSnak

full member

Activity: 182

Merit: 100

If you read the release thread one guy jumped in with 22MH/s and got a lot of them. He gave some away and sold some, which is probably why that address no longer has 200BTB.

daytrader420

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Activity: 126

Merit: 100

Quote from: hdclover on May 05, 2013, 02:37:20 PM

Quote from: zdarkazn on May 05, 2013, 02:31:35 PM

Quote from: ymer on May 05, 2013, 02:27:54 PM

Quote from: ?? on ??

Premined garbage.

http://i.imgur.com/qcjso0c.png

Correction: Huge rewards in the first 2000 blocks that were mined in 12 hrs.

I dont see any 2000 blocks. Where are you getting your information.

He missed the boat guys.

Haha.

I 'missed' the boat too. I didn't get in until money supply was over 2,000.

But it still caught my interest as the next big player in the game.

And even though I missed the boat I'm not going around spreading FUD, expressing self stupidity, calling it a scam, or trashing it even though it is 'profiting' me.

I put a good amount of mining resources towards this, because I believe in it. I put a lot of resources in FTC, and I didn't even feel it was as promising as BitBar is.

That 60 BTB Premined?
It's going toward a bounty for an exchange.

Also, even if the dev kept 60 BTB to himself, personally I would be fine with that, that is less than 2% of the money supply anyhow.

@ymer, even you are mining it. Isn't that irony?

Even you believe BitBar has a real future. If you didn't, you wouldn't mine it.

Maybe you are trying to discourage others from truly valued currency (Since you and that other pile of incompetence trashed that other currency before a +500% gain), or you are trying to devalue the currency by spreading false rumors lies and statistics. So then what, you get it low so you can buy? Cheesy

You guys are amusing.

relm9

hero member

Activity: 840

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Good to see an information repository, nice work. I'm looking forward to see what the future holds for BitBar. Promising specs and a unique concept as far as ALTs go in one package. If coins like FC and CHN can gain traction I see no reason why BitBar won't, as it's actually something new.

mr_random

legendary

Activity: 1260

Merit: 1001

Ymer, so now you have a problem with people mining the coin AFTER the coin has been publicly announced and it's fair game for anyone to mine? Dear God.

Everyone knows the hour or two when a coin launches you get a ton of coins at a silly rate. It's the early adopter advantage. While you are studing Blockchains, look at the most recent coin favourite - Feathercoin, approximately 200k created in the first 2 hours. This is one reason why you get people with hundreds of thousands of Litecoins, PPCoins etc.

ymer

sr. member

Activity: 308

Merit: 250

Here's another finding, that wallet transfered almost all his coins to this other address, I think he has some good stash of coins in different wallets with different miners:

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

ymer

sr. member

Activity: 308

Merit: 250

Creator said that it accidentaly mined 60 and then gave them away, this is true and here's the wallet: http://btb.cryptocoinexplorer.com/address/BNu1hLYzku3Cw5GfQwEjVgF6F38L6jh1Ge

However as soon as the coin was released this happens:

And look at this wallet: http://btb.cryptocoinexplorer.com/address/BKvC5MojhFX9UVDbMhEcpS2T1WYDxHRkCP

Oh look, right after the release one single handendly mined the next 140 blocks alone, then moar people joins and after 28 minutes he already owns 250 bitbars.

That's not pre-mining at all, just sheer luck Roll Eyes

, he was just lucky to mine around 250 BTC in 20 minutes after selling.

Nice 25k USD profit for a weekend project and some insider to announce the coin (Remember creator wants to remain annonymous) Roll Eyes

ymer

sr. member

Activity: 308

Merit: 250