Please do a thorough check on DigitalCoin 
.
.Not done a full check, but it seems the (very) fast blocks found in the first few hours were well handled by the (significantly) lower block rewards, leading to a fairly straight line on the chart.
Topic: Investigation Complete of Instamines and Fastmines for almost every top alt coin - page 9. (Read 12024 times)
April 30, 2014, 10:00:56 AM
Not done a full check, but it seems the (very) fast blocks found in the first few hours were well handled by the (significantly) lower block rewards, leading to a fairly straight line on the chart.
April 30, 2014, 09:14:27 AM
Please do a thorough check on DigitalCoin .
. April 30, 2014, 08:05:08 AM
I think the main point was that the distributions of these coins were so quick that few could take part means it could be considered premined (referred to as a soft premine/instamine, one of the two is used).
That was indeed the point.
If you start expanding the time frame... hell !!! even BTC will look premined to a guy born in 2545.
Very good
I agree. So how can any coin be truly 'fair'? There are billions of people who have never heard the phrase 'cryptocurrency', if any of them become mainstream then it would be incredibly unfair to billions who weren't there at the start. But there is the unfairness above and the incredibly, grotesquely unfair. If there is only hours/days to get involved, what difference does it make if the distribution is POS/POW/POT/hybrid?
Well if the history of a coin is important for you which i believe it is than this list can be a good indicator to avoid some of them. Usually communities try to hide it or down vote it on Reddit, but this guy did a great job shining some truth.
If you look at the coins listed under 'Coins That Are Bad Ideas For Investment or Usage' there are some surprising coins which i personally didn't know about so.
April 30, 2014, 08:00:32 AM
I think the main point was that the distributions of these coins were so quick that few could take part means it could be considered premined (referred to as a soft premine/instamine, one of the two is used).
That was indeed the point.
If you start expanding the time frame... hell !!! even BTC will look premined to a guy born in 2545.
Very good
I agree. So how can any coin be truly 'fair'? There are billions of people who have never heard the phrase 'cryptocurrency', if any of them become mainstream then it would be incredibly unfair to billions who weren't there at the start. But there is the unfairness above and the incredibly, grotesquely unfair. If there is only hours/days to get involved, what difference does it make if the distribution is POS/POW/POT/hybrid?
A truly fair coin can't be distributed by a non profit organisation or an anonymous dev without some kind of world government backing it up. (which would ruin the whole idea)
I wondered so many times how can you distribute a coin fair and square and with no doubts that the dev isn't holding the coin itself or giving it to fake accounts , a coin that would not be advantageous for the first that hold them... that can be distributed all over the world... but no
Haven't found a solution or an idea yet.
April 30, 2014, 07:53:43 AM
I think the main point was that the distributions of these coins were so quick that few could take part means it could be considered premined (referred to as a soft premine/instamine, one of the two is used).
That was indeed the point.
If you start expanding the time frame... hell !!! even BTC will look premined to a guy born in 2545.
Very good
I agree. So how can any coin be truly 'fair'? There are billions of people who have never heard the phrase 'cryptocurrency', if any of them become mainstream then it would be incredibly unfair to billions who weren't there at the start. But there is the unfairness above and the incredibly, grotesquely unfair. If there is only hours/days to get involved, what difference does it make if the distribution is POS/POW/POT/hybrid?
April 30, 2014, 07:46:28 AM
I think the main point was that the distributions of these coins were so quick that few could take part means it could be considered premined (referred to as a soft premine/instamine, one of the two is used).
That was indeed the point.
If you start expanding the time frame... hell !!! even BTC will look premined to a guy born in 2545.
April 30, 2014, 07:45:05 AM
I think the main point was that the distributions of these coins were so quick that few could take part means it could be considered premined (referred to as a soft premine/instamine, one of the two is used).
April 30, 2014, 07:40:46 AM
Thank you for this comprehensive article.
Could the author incorporate this information into the analysis on BlackCoin? I would greatly be interested in his/her opinion on that now since the assumption about missing PoS blocks during the hybrid PoW/PoS phase is invalid given the quote from maarx above.
Blackcoin: the first 5000 blocks were POW. After block 5000, POS kicked in. You will find about 7500 POW blocks and 2500 POS blocks in the first 10000. Hence the ~75 million coins.
That's why you dont find any POS blocks pre 5000.
Blackcoin was fully mined in ~7 days. Most miners dumped the coin (it went from 3000 satoshi to 500). At price 500, it stayed for ~2 weeks with low interest. Investors picked the coin up and took it to where it is now. Most people who have blackcoin bought it in when it was cheaper than to mine.
That's the blackcoin side of the story.
That's why you dont find any POS blocks pre 5000.
Blackcoin was fully mined in ~7 days. Most miners dumped the coin (it went from 3000 satoshi to 500). At price 500, it stayed for ~2 weeks with low interest. Investors picked the coin up and took it to where it is now. Most people who have blackcoin bought it in when it was cheaper than to mine.
That's the blackcoin side of the story.
Could the author incorporate this information into the analysis on BlackCoin? I would greatly be interested in his/her opinion on that now since the assumption about missing PoS blocks during the hybrid PoW/PoS phase is invalid given the quote from maarx above.
April 30, 2014, 07:40:37 AM
This makes Quark fair as fuck if you compare it to the first group of coins on that list.
Juts like some people don't mind if their neighbor is a rapist , but they are scared as hell if he is a murderer. The expression you used proves that you don't believe that quark distribution was one to brag about on fairness. And let me guess... quak bagholder?
April 30, 2014, 07:31:34 AM
This makes Quark fair as fuck if you compare it to the first group of coins on that list.
Juts like some people don't mind if their neighbor is a rapist , but they are scared as hell if he is a murderer. The expression you used proves that you don't believe that quark distribution was one to brag about on fairness. And let me guess... quak bagholder?
April 30, 2014, 07:26:50 AM
This makes Quark fair as fuck if you compare it to the first group of coins on that list.
Juts like some people don't mind if their neighbor is a rapist , but they are scared as hell if he is a murderer. April 30, 2014, 07:16:40 AM
Well, Doge is in the "Acceptable Altcoins" category with a "paltry instamine"; he doesn't call it a scamcoin.
The KGW point on old coins is valid (although I'm personally more interested in evaluating new coins, not old/established ones).
The KGW point on old coins is valid (although I'm personally more interested in evaluating new coins, not old/established ones).
He kind of refers to Vertcoin as a scamcoin as well, solely due to launching with regular Litecoin difficulty and not KGW. Even though after it hit exchanges, it sold for less than 0.0001 for a week or more? It doesn't really matter how many miners picked up, there was a ton for sale on the exchange for absolutely nothing. Look at my quote below from January to prove it. You would have been better off not mining Vertcoin AT ALL, mining Litecoin instead, then selling the Litecoin to purchase Vertcoin on an exchange. There was basically no early miner reward.
Price going up, should hit .0001 soon.
I sure hope so. at the current rate it's less profitable that LTC to mine. I'm happy to keep a nice stash set aside for the future, but I need to pay my electricity bills.
April 30, 2014, 07:14:30 AM
This makes Quark fair as fuck if you compare it to the first group of coins on that list.
Juts like some people don't mind if their neighbor is a rapist , but they are scared as hell if he is a murderer.
April 30, 2014, 07:09:31 AM
Hi,
When i started mining XPM it was 2.5$, when it reached to 7$-8$ i was addicted to this, it was like a drug! But , o well, now one XPM is less then 50 cents..
BR,
Gondel
When i started mining XPM it was 2.5$, when it reached to 7$-8$ i was addicted to this, it was like a drug! But , o well, now one XPM is less then 50 cents..
BR,
Gondel
April 30, 2014, 07:06:32 AM
This makes Quark fair as fuck if you compare it to the first group of coins on that list.
April 30, 2014, 06:56:02 AM
As an investing non miner I really don't care the how when who of mining and neither will average joe when he gets into cryptos.
Really irrelevant now considering how many are 50%-100% premine.
Doesn't matter how they start, what matters is who holds them over time.
Really irrelevant now considering how many are 50%-100% premine.
Doesn't matter how they start, what matters is who holds them over time.
2 of your statements seem incongruent.
not at all, exchanges overtime is the real distribution method, no matter the how when why or who of mining.
I mean you cant not care about the how and the when of mining and then say what matters is who holds them over time. Because in the case of the worst offenders, someone is holding a huge lump of coin and can destroy the market at any time they chose or when your innocent traders get the price to a certain point, dump dump dump.
That's all I meant, I know what you mean about traders wont care (or more accurately will probably never know and wouldn't necessarily see it as relevant to their day trading only looking for price trends) the thing is those trends are potentially exposed to faking by the first part of the equation (prem/inst whales) so unequivocally linked.
On the stock market, major holders holding larger percentages is viewed as extremely positive
its average joe mindless sheep that panic. April 30, 2014, 06:48:37 AM
Proper analysis about exactly why an instamine is unfair would be good.
It's a horrible analysis because he tries to claim not having KGW in an era when little or no coins had KGW systems makes you a scamcoin.
He even lists Dogecoin up there. I was one of the first 50 people on the planet to mine Dogecoin. It had no exchange near launch, when an exchange did come online (Coinedup), it was worth absolutely nothing. I could have mined something more profitable, but I mined Dogecoin anyway while looking at the screen and saying, WOW, I just made 2 cents. Nobody knew it would be worth a damn thing.
Well, Doge is in the "Acceptable Altcoins" category with a "paltry instamine"; he doesn't call it a scamcoin.
The KGW point on old coins is valid (although I'm personally more interested in evaluating new coins, not old/established ones).
By "Proper analysis about exactly why an instamine is unfair would be good" I mean the study should go into details of why instamine necessarily means that the dev, rather than random miners who are online at the time, gets the lion's share of the coins. Because those pulling off the instamines come up with countless excuses why it's still fair ("I only mined a few blocks myself, honest guv!").
April 30, 2014, 06:42:03 AM
wow bitcoin on the list too?
but i guess we can all forgive bitcoin?
Bitcoin wasn't instamined, fastmined or whatever. but i guess we can all forgive bitcoin?
i saw the list from OP saw bitcoin, but i was wrong i should have read that link first.
now that you mentioned it, i went and read that weblink, very interesting read indeed.
every newbie should be pointed to read that article first before investing anything.
Anyhow: I'm not a newbie, nor do I use the altcoin section that often these days. After a while passes, you just know which coins to look at and which to avoid.
April 30, 2014, 06:05:11 AM
Proper analysis about exactly why an instamine is unfair would be good.
It's a horrible analysis because he tries to claim not having KGW in an era when little or no coins had KGW systems makes you a scamcoin.
He even lists Dogecoin up there. I was one of the first 50 people on the planet to mine Dogecoin. It had no exchange near launch, when an exchange did come online (Coinedup), it was worth absolutely nothing. I could have mined something more profitable, but I mined Dogecoin anyway while looking at the screen and saying, WOW, I just made 2 cents. Nobody knew it would be worth a damn thing.
April 30, 2014, 05:56:44 AM
As an investing non miner I really don't care the how when who of mining and neither will average joe when he gets into cryptos.
Really irrelevant now considering how many are 50%-100% premine.
Doesn't matter how they start, what matters is who holds them over time.
Really irrelevant now considering how many are 50%-100% premine.
Doesn't matter how they start, what matters is who holds them over time.
2 of your statements seem incongruent.
not at all, exchanges overtime is the real distribution method, no matter the how when why or who of mining.
I mean you cant not care about the how and the when of mining and then say what matters is who holds them over time. Because in the case of the worst offenders, someone is holding a huge lump of coin and can destroy the market at any time they chose or when your innocent traders get the price to a certain point, dump dump dump.
That's all I meant, I know what you mean about traders wont care (or more accurately will probably never know and wouldn't necessarily see it as relevant to their day trading only looking for price trends) the thing is those trends are potentially exposed to faking by the first part of the equation (prem/inst whales) so unequivocally linked.
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