Topic: CoinMarketCap.com - Market Cap Rankings of All Cryptocurrencies! - page 104. (Read 639542 times)

It doesn't matter how much it was discussed, the bottom line is that it was mined *in secret* for 2 years OR it has a fake blockchain with 2 fake years worth of mining done. That means that 82% of the coins are in the hands of people who are unknown and unknowable. That is the very definition of a premine, and that is why the market has rejected this premined piece of shit.

Volume doesn't always mean that coin is great, so do marketcap list. I'd advise you to analyze one coin's position by all classifications.

I'd say rethink your view on this coin but to tied to discuss ''premining'' as it was discussed lot of times in BCN thread.
 

Most heavily premined coins end up at the top 10 for a while. Thankfully, nobody cares about the top 10 by marketcap, and they look at the top 10 by volume.

The market has already rejected your premined scamcoin.

It's gone down one position. Hope BCN will return to previous position and will rise above.

Nice to see BCN at the top 10 list. I am sure after substantial update BCN would move to a higher position. 

Nxt IPO was open to everyone on this forum for 2 months and everyone was free to join. It's not Nxt fault that people didn't want to join. Nxt was fairly distributed in open IPO on a public forum to anyone who wanted to join.  

So how exactly are peercoin and litecoin "fairly" distributed?

There is no such thing as "fair" distribution in crypto. Early adapters have big amount of coins.

The population of world is 7 billion so unless you have distributed the coins to all 7 billion equally, everything is "unfair" distribution currently.  There is no difference between 73 and 7300 given there are 7 billion people on earth who never received coins in any IPO.

You can't talk about fair distribution with a coin that was distributed to 70 people as nxt was

What do you mean "everything" in my post is wrong? 50% of peercoin are controlled by top 60  addresses

http://bitinfocharts.com/top-100-richest-ppcoin-addresses.html

For litecoin, Just top 2 addresses control 22% of all litecoin

http://bitinfocharts.com/top-100-richest-litecoin-addresses.html

As for volume Nxt has consistently more volume than peercoin last month, reaching a high of 2 million 3 weeks ago

So what exactly is TaunSew is whining about?

Well, according to the blockchain, 82% of the coins were mined by the time it was released on Bitcointalk in March. They claim its because it has been around on the darkweb only for 2 years, and the blockchain dates support that. But the blockchain can be faked easily. Here is some light reading for you: http://www.reddit.com/r/Monero/comments/26we1g/why_monero_and_not_bytecoin/chv7yx9?context=3

Can you link to where the 82% premine comes from? I've never heard of it.

Nonsense - the blockchain was not observed by ANYBODY that is known here on Bitcointalk, on IRC, or even on a cryptography mailing list. Not a single known person has come forth and said "I've had a full node since the middle of 2012, I can vouch for the validity of the blockchain". Given that the whitepaper is dated September 2013, and the first github commit is November 2013, there's no evidence that it existed before November 2013. Its first proper public release was in March 2014, by which time 82% had been mined. Falsifying the blockchain is trivial, and this is doubly so as BCN was released with a purposely crippled miner that did insanely stupid stuff like recalculating static values in each iteration of a loop (doing this by accident is a practical impossibility given the generally ok-written code).

It NEEDS to be listed as "significantly premined" until there is overwhelming evidence from people who are known in this forum or in cryptography circles that its claim of being 2 years old is true. Even IF it is true, the fact that it was unavailable to anyone for 2 years and then suddenly released publicly would likely still count as a premine.

Bytecoin had an 82% premine before public release (under the guise of it supposedly being on the "darkweb" for 2 years, a claim nobody can validate). It definitely needs a ** on it.

Ok, added.


That makes sense, I'll take a look tonight.

U are wrong LaudaM

nxt volume 24h  $ 162,732   
peercoin volume 24h  $ 57,952 (roughly 1/3 of Nxt)
for distribution check respective distribution tables

Plz note that none of these small coins can rival Bitcoin volume by any means.

~CfA~

ps regarding user 'TaunSew':   https://bitcointalksearch.org/topic/outdated-thread-654862

Everything in your post is wrong.

It has more volume right now than peercoin and better distribution than both peercoin and litecoin.  50% of peercoin are controlled by 60 addresses. Litecoin is just as bad.  All 1 billion nxt were distributed to original stakeholders who contributed BTC, and nxt currently has better distribution than both peercoin and litecoin.

It's nothing like ripple

The block explorer coinmarketcap links to for BlackCoin isn't working.

Link to this one instead:

http://blackcha.in/

Gliss,

The SaveCoin coin supply is not being correctly represented on coinmarketcap.com.

The coin supply listed presently, only shows the mined coins. The double asterisk indicates that the coin has been Significantly Premined, however those premined coins are not included like they are for other coins.

SaveCoin did have a premine of 20 Million coins. Of those 20 Million, 19 million are held in reserve to make daily interest payments in what is called Proof of Funds (POF). The coin pays out a .137% daily interest on every coin in circulation (except the premine). The wallet does not need to be open like POS. These coins are not technically available coin supply until paid out as interest.

The remaining 1 million premine are held by the Dev for bounties, promotions, giveaways and are fully available.

1) To accurately represent the coin's supply for the short term at least the 1 million Dev premine should be included.

2) To be even more accurate, the paid interest to date should also be included. We would be satisfied with #1 to get started until a process for #2 can be created.

3) Eliminating the 19M held in reserve for POF, makes the effective premine 5%.  In light of this, does a 5% premine still qualify as significantly premined or can this designation be removed?

Given that SaveCoin is the only POF coin, we understand the confusion.  Let me know if you have any questions or if any other information is required to make this change.

Thanks.

I said NxT