Topic: Investigation Complete of Instamines and Fastmines for almost every top alt coin - page 8. (Read 12004 times)

Is this the thread where I can cry if I missed a lunch?

...which is precisely my point, hidden in the bitcointalk.org forums.

the information is found here https://bitcointalksearch.org/topic/ann-asic-resistant-ultracoin-utc-ultrafast-6-second-transactions-413978

Could you show me where that information is displayed on the www.ultracoin.net website? I couldn't find that.

Also, its "fair" when you allow the person benefitting the most to describe was it happening.


To the investor wanting to buy a coin RIGHT NOW, that 2 million premine represents nearly 15% of the current totals.

A big difference that they don't want the regular person to realize...

ultracoin had a 2% pre-mine, there are a total of 100,000,000 coins to be created, 2% of 100,000,000 is 2mil.
Premine: 2% (1.6% IPO / 0.3% DEV / 0.1% REWARDS)
the IPO was shared so that not one person could buy all the coins.... seems pretty fair to me or am I missing something?

let me save the trouble..

Popular coins are instamined.

Yup.

that is all there is to it lol

so any coin that is popular is a huge instamine scam then lol

i've also had to say this dozens of times lately.. tiring bs.

The DigitalCoin train has long passed. 

you can tell it by the initial blocks numbers, after the coin has launched successfully

if the blocks count is around 50 or less, we are good to go

My comments were about distribution, relatively high proportions of a coin being concentrated in relatively few peoples hands. This is what the article is about, the speed of distribution and how fast those coins get concentrated into relatively few miners hands.

If a miner can get a high proportion of coins in a short period of time, the price during the mining is irrelevant. They can go from coin to coin, one day or so at each collecting 2-20% of the coins and sooner or later one will pop and they will dump.

It might work out ok for the instaminer but this is justification for the coin itself being a bad investment.

No, it does not mean that "few" could take part.  It only means blocks passed by faster than normal.

The market already takes the flood of coins into account as well, and the coins are priced accordingly to that metric on the exchanges upon release.  This means in the majority of cases, it would have been more profitable to mine LTC, then sell it to purchase the other coin.  I know this holds true for Vertcoin & Dogecoin.  Where is the early miner advantage then?  There is none.  The early miner is not rewarded at all.  The smart exchange trader is the person rewarded.

You have to take into account average mining profit per megahash per day.  I mined Vertcoin at release.  Each day I was making less than mining Litecoin.  I, and the other thousands of miners didn't know if the coin would even live or die, of if we would make a cent from it.  Nobody knew if they should hold, or try and sell for less than Litecoin profit before it went down lower.  Miners in this regard are gamblers.  They're gambling with their time and money.  

Out of the available pools, every single one was being DOS'd for days as well.  You literally had to sit at your computer 24 hours a day configuring pools and miners, all the while being rewarded for less than Litecoin profit.

For this reason, coins like Dogecoin and Vertcoin don't belong in that list.  There are coins that exist where early miners were rewarded far higher than normal mining profits for the day though.  The ones I talked about just aren't one of them.  To make anything on Doge or VTC, you really had to make somewhat of a long term investment that was available to anyone.

Anyone could have bought VTC on exchange for .00005, held for a few weeks, then have it turn into .005

Look at my quote below and time stamp, that's about 10 days after the coin had already been released and the coin is worth absolutely nothing.

How can you differentiate them though? No effective way to tell whether the dev got the coins, or shared amongst a group.

Even when launch is announced in advance with a set time, dev can properly prepare his own mining setup for launch: lease a small mining farm for a few hours, get everything fully setup & synced, choose the difficulty to suit him, maybe run his own pool with nice latency to his rig, etc. Meanwhile everyone else has to scramble around with downloading & installing (or building on Linux, and hoping you're not missing an obscure library that the dev chose to require), syncing up, etc. And then with one block mined every second for the first half hour, dev gets all the good ones whilst everyone else's gets orphaned. Any QQ gets quickly dampened by dev's shills, and a few randoms who got lucky, who insist it was a fair launch because they got some coins and anyway it was announced a full 30 minutes before launch.

(Actually, for me, fairness isn't a factor, but having someone own 30% of coins is, especially if those coins were basically free)

They know, but just denying because they 've a stake in it.

Surprising how many people say oh that's wrong or shit without actually reading it properly.

That was a nice read. Thanks!

we should divide instamine made from a single person or a small group, and instamine made from everyone that was there, the latter is acceptable to me

bitcoin started with diff 1, so instamine was surely harder, but fastmine is possibile on btc, dunno if satoshi had spread his work around the world, or he have held it hidden and some random guys on the internet found it and disclosed it


what link?

I agree that an intuition develops if you are around the scene long enough. However, I'm willing to guess that more than 95% of the intended users of these currencies will not be bitcointalk.org users. Thus, this information needs to make it to the public.

Heh, I don't like Dogecoin but I make it plainly clear in the article that their mining process wasn't all that bad.

So many of the coins I discuss have funny business beyond the KGW question. Stop creating a strawman for your entire argument.

Let's face it. You're pissed at this post because you mine a number of these coins. My post threatens your bank account. I get it. We are fated to be against each other.

Please use clear information to explain your case against my coin analysis. Ad hominem's and other logical fallacies will be called out.

I was planning to only do top coins, but i suppose after more thought it makes sense to get information up about smallish coins before they hit it big. Save people some time.

I'll look into these, thanks.

BTW, weren't there 2 limecoins?