Premine Stealing? | Bitcointalksearch.org

djm34

legendary

Activity: 1400

Merit: 1050

Quote from: zing96 on November 15, 2014, 12:14:30 PM

I've seen premines stolen. I can't recall which coin, but it caused a shitstorm. And of course, proved the dev was a noob and the coin was crap.

I also remember that coin (not its name though...) Grin

Actually with x11 coins, I often ended with my own fork and the premine... but it never sticked

actually I don't think it is really possible to steal the premine (well unless in that previous case... and noob dev Grin

).
The dev just need to kill off the seed nodes and start again and call it the "correct" fork

zing96

sr. member

Activity: 266

Merit: 250

I've seen premines stolen. I can't recall which coin, but it caused a shitstorm. And of course, proved the dev was a noob and the coin was crap.

bitwho

legendary

Activity: 1274

Merit: 1000

i've seen it happened a few times. most of the time there is a relunch. once i saw that that person gave the premine back..

noob codes who probably lost their coingen premine block.. funny stuff

cloudboy

hero member

Activity: 690

Merit: 500

Quote from: Spoetnik on November 14, 2014, 09:06:50 PM

i wonder how does that work if coins are tied to address's with private keys etc ?

The longest blockchain is always assumed to be the most valid. Therefore, if one's private keys has tons of coins, if your node finds a blockchain that is longer, it will sync to that one, even if your account has 0 coins.

Spoetnik

legendary

Activity: 1540

Merit: 1011

FUD Philanthropist™

i wonder how does that work if coins are tied to address's with private keys etc ?

illodin

hero member

Activity: 966

Merit: 1003

I remember one time maybe 6 months ago or so one coin forked soon after the launch and the dev lost the premine. Can't remember what it was though..

e1ghtSpace

legendary

Activity: 1526

Merit: 1001

Crypto since 2014

Has anyone ever found a coin that just launched, then downloaded the wallet, turned off their internet and mined the first few blocks (including the premine). Then turned their internet back on, synced the blockchain and had overtaken the old chain, effectively stealing the premine?

It would be funny if this happened.
Im sure someone could do this to an sha256 coin if they had a 1th/s miner.

Topic: Premine Stealing? (Read 937 times)