Topic: how to detect the prmined coins (Read 621 times)
You can see how many blocks there are at any time on a coins network. If it's released and there are already a bunch of blocks its premined. Also, a dev can make the first (non genesis) block worth more coins. This is how a premine is usually accomplished. You can tell that by looking in the coins code. Instamining is when the coin starts of at a low diff and people rape the coin early on. This is anyone usually, not just the devs. Coins have succeeded in eliminating the instamine by either starting the diff higher or, more preferably, making the first few blocks worth hardly any coins. Also, by creating a [PreANN] thread a week or so ahead of time helps.
It means that the worker class (miners) doesn't start at block #1, and that some people have a lot of the coin already that might be used for your benefit (marketing the coin) or simply dumped in the market as soon ad the coin hit an exchange. The latter will be a very unpleasant surprise if you have been working hard to mine the coin or even spent real life $ on getting the coin. 
A separate but similar issue i observed with the catcoin release: i mined for a few hours during the chaotic beginning, and got a thousand catcoins. I earned these legitimately, but put in absolutely no work to do it. the same hash power today would get me 4 catcoins. this is a separate issue to premining, but i see a handful of people zergrushing a coin release also making out like bandits.
i'm not saying it happened with catcoin, but a dev could easily claim a coin is 'no premine', and quietly release the source for a few individuals to setup stable pools ahead of time. as soon as the coin is released, all of the dev's allies would turn the mining infrastructure on, and mine that easy 1-2%. Everyone else that follows wastes their resources on promoting the coin. the organised developer benefits big: huge windfall, propelled forward on the backs of the proletariat, and all with no premining.
and for me as a miner how i can detect the premines of a coin ?
Premining is not a bad thing if done responsibly , afterall the developer is entitled to profit. You expect people to work for free, is this a communist community here or a free market capitalist one? There are also various expenses that need to be covered, It's greedy for early miners to want all the coins and profit for themselves when the dev did all the work, it's easy to blame the dev for being greedy when all he/they wanted is an honest deserved return.
Irresponsible pre-mining is the issue and flat out wrong where a massive percentage or majority of coins are pre mined/instamined before released.
Irresponsible pre-mining is the issue and flat out wrong where a massive percentage or majority of coins are pre mined/instamined before released.
It is common for scammers to create a coin which is premined for 50%.
which coins have been released with a 50% premine?
It means that the worker class (miners) doesn't start at block #1, and that some people have a lot of the coin already that might be used for your benefit (marketing the coin) or simply dumped in the market as soon ad the coin hit an exchange. The latter will be a very unpleasant surprise if you have been working hard to mine the coin or even spent real life $ on getting the coin.
sometimes planned. coins will usually be upfront about premining because they can use the premined money to setup pools, create bounties for promotion etc.
dears,
i see in some topic members talking about premined coins but i don't know from where they know the exact amount of those coins
and who can premine them ?
it's a bug in the source code or how exactly ?
i see in some topic members talking about premined coins but i don't know from where they know the exact amount of those coins
and who can premine them ?
it's a bug in the source code or how exactly ?
As I believe it to be:
If you create a coin you can mine them before you release your coin.
Difficulty will be low since it is based on the network size.
If you mine you can premine (and maybe instamine) all the cheap coins.
It is common for scammers to create a coin which is premined for 50%. They wait until the coin is on an exchange and peaks and sell their premined coins for BTC or LTC and abandon the coin letting all investors go to shit.
The idea on permining is to support the coin from a foundation. The foundation uses the premined coins to setup services, mining pools, etc.
Most of the times it's written in the [ANN] topic.
but from where they get the info and who can premine ? and it's the fault of whom ?as i see it's not good to premine a coin 
Most of the times it's written in the [ANN] topic.
dears,
i see in some topic members talking about premined coins but i don't know from where they know the exact amount of those coins
and who can premine them ?
it's a bug in the source code or how exactly ?
i see in some topic members talking about premined coins but i don't know from where they know the exact amount of those coins
and who can premine them ?
it's a bug in the source code or how exactly ?
Jump to: