General Question about Genesis/IPO | Bitcointalksearch.org

MysticalPotato

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Quote from: Bit_Happy on March 04, 2014, 03:51:57 PM

Most of my experience w/ alt's is on exchanges, please help me understand a couple Genesis block basics.
What is the "simple flow" for an IPO paid at Genesis (for example)

How do the users expecting a payment provide an address?
If the wallets are posted on Github early, what stops people from mining early?

I know it will be as simple as 1,2,3 but how do devs pay people in an IPO?

Bit More advanced:
Block number 10,000 (for example) can be set to pay a bonus amount, to the winning miner.
Does BTC, LTC (or any project) have the current ability to code "Pay this address ____________ 500 coins at block 1,000,000?"

Thanks for your help

I'm no expert, but in the last four IPOs I've seen, the coins were mined in advance and only delivered post-launch.

Of course, with Stackcoin, the launch was a bust - and the coin wasn't even developed for that matter.

Bit_Happy

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A Great Time to Start Something!

OK thanks a lot.

SlidingHorn

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Quote from: Bit_Happy on March 04, 2014, 03:51:57 PM

Most of my experience w/ alt's is on exchanges, please help me understand a couple Genesis block basics.
What is the "simple flow" for an IPO paid at Genesis (for example)

Honestly, most IPOs are scams. You're better off just waiting & mining or buying on exchanges. *IF* (huge if) the IPO is legit, I'd assume it's upon launch that they pay out - otherwise they'd likely list their payment method in the details of the IPO.

Quote

How do the users expecting a payment provide an address?

From what I've seen, the OP asks ~~victims~~ investors to PM or email them.

Quote

If the wallets are posted on Github early, what stops people from mining early?

Again...just my experience, if the wallet is released prior to the launch, they're typically password protected & the OP will give the PW out at the time of launch.

I know I haven't answered all of your questions, but I hope what I *could* give you was helpful

Bit_Happy

legendary

Activity: 2114

Merit: 1040

A Great Time to Start Something!

.....

Bit_Happy

legendary

Activity: 2114

Merit: 1040

A Great Time to Start Something!

Most of my experience w/ alt's is on exchanges, please help me understand a couple Genesis block basics.
What is the "simple flow" for an IPO paid at Genesis (for example)

How do the users expecting a payment provide an address?
If the wallets are posted on Github early, what stops people from mining early?

I know it will be as simple as 1,2,3 but how do devs pay people in an IPO?

Bit More advanced:
Block number 10,000 (for example) can be set to pay a bonus amount, to the winning miner.
Does BTC, LTC (or any project) have the current ability to code "Pay this address ____________ 500 coins at block 1,000,000?"

Thanks for your help

Topic: General Question about Genesis/IPO (Read 434 times)