I could not agree with the OP more thats why my coin was released now we wish we premined it since only seems the ones with a premine do well haha
http://www.cash-coin.org/
But I just don't know if fair coins can compete which is just odd.
Topic: Ridiculously premined alt coins (Read 6590 times)
5% doesn't sound too bad really (regarding ADT).
You make the coin, and try and get some money. Let's not kid ourselves that many of these coins function to do anything else (a few noble exceptions, of course)
ORB was about 66%, or so I am led to believe.
PXC was hugely premined, too. Again, I am led to believe about 30%.
Then there were the FTC accusations, never verified whether true or not.
You make the coin, and try and get some money. Let's not kid ourselves that many of these coins function to do anything else (a few noble exceptions, of course)
ORB was about 66%, or so I am led to believe.
PXC was hugely premined, too. Again, I am led to believe about 30%.
Then there were the FTC accusations, never verified whether true or not.
What? PXC pre-mined hugely? 1 million out of 168 million back in time, 0.6%. It's no more anyway.
AlphaOmegaCoin was below .01 percent pre mined before miners released to the public for promotions.
If anyone needs or wants any information on this coin verified get in contact with me please.
We are finishing up pool .
2 mining wallets are up will be 3 soon putting out another updated wallet with more nodes.
Block explorer will be posted soon blocks are at 4375 as I'm writing this post.
Anyone other information anyone wants or needs to know will be posted or answered.
If anyone needs or wants any information on this coin verified get in contact with me please.
We are finishing up pool .
2 mining wallets are up will be 3 soon putting out another updated wallet with more nodes.
Block explorer will be posted soon blocks are at 4375 as I'm writing this post.
Anyone other information anyone wants or needs to know will be posted or answered.
trade coin was 100% premine
Hi.
Oh man reading this thread gave me an idea to revolutionize the crypto coin world but if it works i will need 200 armed guards in my home to protect me until a missile blows my home.
95% of the gains will be used to help (food stamps) old people (+65) who live in countries that are in the top50 gdp list. Yes sorry im tired of seeing help the third world and nobody saying the first world needs help too ¡¡
Devs contact me and lets do the next big thing.
Oh man reading this thread gave me an idea to revolutionize the crypto coin world but if it works i will need 200 armed guards in my home to protect me until a missile blows my home.
95% of the gains will be used to help (food stamps) old people (+65) who live in countries that are in the top50 gdp list. Yes sorry im tired of seeing help the third world and nobody saying the first world needs help too ¡¡
Devs contact me and lets do the next big thing.
i think cloud coin was a big premine
There's a really simple solution to all of this called "options" with an exercise date at least one year after the coin is released. This would eliminate ALL pump n dump crap coins.
Hi Joe_Bauers, sorry for my naivety of economics but I'd love a layman's explanation of this.
A dev would be able to allocate a small amount of coins upon creation, but they would't be able to spend them for a specified period of time - say 1 year. This way, the dev would have a vested interest in the coin. I suppose really this is more similar to a bond.
True (call) options also have to be above a certain value (strike price) on the exercise date to be redeemed. This could also be incorporated into a coin, though not as easily.
http://en.wikipedia.org/wiki/Option_(finance)
Better yet, have some kind of parallel mine, but no premine. In other words, the development team would start with nothing, but share 5% of the reward coins generated. If 500 coins are produced in a day, each of five developer, advocate will get five coins sent to their address out of 25 total. With their benefit being based entirely on the long term value and viability of the altcoin, they would have every incentive to maintain a higher, stable value. If the altcoin eventually builds a $10 million market cap, each one would have $100k worth of their own coins, but only after working to build that kind of value.
if the premine is used to promote / repair the coin only and not make the devs money its best to have the whole amount to hand to pay for unexpected things
I think that you've hit upon a more salient point: any currency--digital, paper, securities, shares, or even base metals--must be supported by a network of honesty, openness, and scrutiny. The Federal Reserve System--and the other nationalized private banks around the world--have not always kept to their word. It has been the lack of trust in that monetary system that has led to the widespread interest in digital coins, even though they are not "Notes" like FRN's, Euros, pesos, etc.
hi,
What is the MOST premined coin? What percentage is the premine?
Thanks.
What is the MOST premined coin? What percentage is the premine?
Thanks.
Agree with you said, but there's a limit to the amount of the premine. 5% appears way excessive, 20% is a joke 
just a heads up that adt is being fixed and it will more than likely make the total coins up to 180,000,000,000 so the premine will be 2%
( going threw al this in the repair thread )
Now factor in the easymine.
They are not different from one another and should be taken into consideration.I mined 100 524,288 IFC blocks with one 300 khash gpu, and it only took hours/ 1-2 days. Knowing that, please explain why anyone in their right mind would want to pay anything more than 0.00000001 LTC per. Per 100 lot is more like it. lol
You somehow managed to aquire over 1 billion IFC, just after or before the first halving. Knowing THAT.. -------^^^^
How did you aquire such vast sums at such an early stage in the game ?
firstly I have a nice chunk of mining power I also rent mining power and I buy newly made coins i had far more than 1bill IFC at 1 point
also the coin i am talking about here is ADT not IFC and yes i also have a nice chunk of that and most of that chunk was brought not mined
We're talking about ridiculously premined coins. My point here is how IFC and ADT have, and continue to be, ridiculously easymined and should be considered one and the same with regards to said topic.
In other words.. those that make it that fast n easy, should be forced to wear a big fat ponzi bell, to help warn the ridiculously greedy before they fall for the pump n dump trap.
Agree with you said, but there's a limit to the amount of the premine. 5% appears way excessive, 20% is a joke
just a heads up that adt is being fixed and it will more than likely make the total coins up to 180,000,000,000 so the premine will be 2%
( going threw al this in the repair thread )
Now factor in the easymine.
They are not different from one another and should be taken into consideration.I mined 100 524,288 IFC blocks with one 300 khash gpu, and it only took hours/ 1-2 days. Knowing that, please explain why anyone in their right mind would want to pay anything more than 0.00000001 LTC per. Per 100 lot is more like it. lol
You somehow managed to aquire over 1 billion IFC, just after or before the first halving. Knowing THAT.. -------^^^^
How did you aquire such vast sums at such an early stage in the game ?
firstly I have a nice chunk of mining power I also rent mining power and I buy newly made coins i had far more than 1bill IFC at 1 point
also the coin i am talking about here is ADT not IFC and yes i also have a nice chunk of that and most of that chunk was brought not mined
Agree with you said, but there's a limit to the amount of the premine. 5% appears way excessive, 20% is a joke
just a heads up that adt is being fixed and it will more than likely make the total coins up to 180,000,000,000 so the premine will be 2%
( going threw al this in the repair thread )
Now factor in the easymine.
They are not different from one another and should be taken into consideration.I mined 100 524,288 IFC blocks with one 300 khash gpu, and it only took hours/ 1-2 days. Knowing that, please explain why anyone in their right mind would want to pay anything more than 0.00000001 LTC per. Per 100 lot is more like it. lol
You somehow managed to aquire over 1 billion IFC, just after or before the first halving. Knowing THAT.. -------^^^^
How did you aquire such vast sums at such an early stage in the game ?
Agree with you said, but there's a limit to the amount of the premine. 5% appears way excessive, 20% is a joke
just a heads up that adt is being fixed and it will more than likely make the total coins up to 180,000,000,000 so the premine will be 2%
( going threw al this in the repair thread )
saw a few dogs bark at low premined coins, so pump this one so people know there are much worse ones!
Mining is the scam;
Hey lets make a currency to avoid the evil banks and distribute it fairly (oh but you must have many thousands $$$$ in computer gear to mine and the more you have the more you get hmmmmmm).
Hey lets make a currency to avoid the evil banks and distribute it fairly (oh but you must have many thousands $$$$ in computer gear to mine and the more you have the more you get hmmmmmm).
Damn those people with money!!
Well, I thought part of the point of some of these coins was to distribute wealth more evenly. Unfortunately the game is lost almost right away, whereas with fiat money it's just slowly causing more and more inequality.
Mining is the scam;
Hey lets make a currency to avoid the evil banks and distribute it fairly (oh but you must have many thousands $$$$ in computer gear to mine and the more you have the more you get hmmmmmm).
Hey lets make a currency to avoid the evil banks and distribute it fairly (oh but you must have many thousands $$$$ in computer gear to mine and the more you have the more you get hmmmmmm).
Damn those people with money!!
Agree with you said, but there's a limit to the amount of the premine. 5% appears way excessive, 20% is a joke
Sometimes Pre-mines are used to protect the coin holders when a chain develops a serious enough issue. In certain situations a large pre-mine is used to redistribute the coins that would have been lost in a chain reboot.
For example Cubits had to be rebooted and the pre-mine went to replace the coins lost in the reboot. Cassie did do the re-distribution by hand, which was quite a bit of work in itself.
I am the developer of the Darsek reboot. Originally the coin was based on a flawed clone and at one point POS block minting brought the network to its knees.
The V2 client/daemon is cloned directly from Novacoin. This required a new block chain. Block one will be a super block of 285,000 KED (The amount minted on the old chain). After the block matures, all the coins will be distributed to the same addresses and amounts that were there on the block cutoff. I run cryptocoinexplorer and my new explorer (CCE3 - In testing), keeps track of every balance of every address on the block chain. This allowed me to extract all the balances from the database.
The new client will automatically detect an old Darsek wallet, salvage the keys and create a current version wallet(Address version is the same..everything else is unique to the new chain). All the coins one had on the old block chain will show up in the new wallet.
We are currently on the second and final block chain test before release.The release chain will be a fresh chain. I have a block explorer up so people can see how this works.
https://bitcointalksearch.org/topic/m.3921480
My point is, not all pre-mining is bad and can in fact help save a coin that needs it.
For example Cubits had to be rebooted and the pre-mine went to replace the coins lost in the reboot. Cassie did do the re-distribution by hand, which was quite a bit of work in itself.
I am the developer of the Darsek reboot. Originally the coin was based on a flawed clone and at one point POS block minting brought the network to its knees.
The V2 client/daemon is cloned directly from Novacoin. This required a new block chain. Block one will be a super block of 285,000 KED (The amount minted on the old chain). After the block matures, all the coins will be distributed to the same addresses and amounts that were there on the block cutoff. I run cryptocoinexplorer and my new explorer (CCE3 - In testing), keeps track of every balance of every address on the block chain. This allowed me to extract all the balances from the database.
The new client will automatically detect an old Darsek wallet, salvage the keys and create a current version wallet(Address version is the same..everything else is unique to the new chain). All the coins one had on the old block chain will show up in the new wallet.
We are currently on the second and final block chain test before release.The release chain will be a fresh chain. I have a block explorer up so people can see how this works.
https://bitcointalksearch.org/topic/m.3921480
My point is, not all pre-mining is bad and can in fact help save a coin that needs it.
+1 Joe_Bauers.
A growing number of these pump n dump devs are abandoning their coins. This should lessen the chances of that happening aswell.
A growing number of these pump n dump devs are abandoning their coins. This should lessen the chances of that happening aswell.
There's a really simple solution to all of this called "options" with an exercise date at least one year after the coin is released. This would eliminate ALL pump n dump crap coins.
Hi Joe_Bauers, sorry for my naivety of economics but I'd love a layman's explanation of this.
A dev would be able to allocate a small amount of coins upon creation, but they would't be able to spend them for a specified period of time - say 1 year. This way, the dev would have a vested interest in the coin. I suppose really this is more similar to a bond.
True (call) options also have to be above a certain value (strike price) on the exercise date to be redeemed. This could also be incorporated into a coin, though not as easily.
http://en.wikipedia.org/wiki/Option_(finance)
Joe, thanks very much
There's a really simple solution to all of this called "options" with an exercise date at least one year after the coin is released. This would eliminate ALL pump n dump crap coins.
Hi Joe_Bauers, sorry for my naivety of economics but I'd love a layman's explanation of this.
A dev would be able to allocate a small amount of coins upon creation, but they would't be able to spend them for a specified period of time - say 1 year. This way, the dev would have a vested interest in the coin. I suppose really this is more similar to a bond.
True (call) options also have to be above a certain value (strike price) on the exercise date to be redeemed. This could also be incorporated into a coin, though not as easily.
http://en.wikipedia.org/wiki/Option_(finance)
Better yet, have some kind of parallel mine, but no premine. In other words, the development team would start with nothing, but share 5% of the reward coins generated. If 500 coins are produced in a day, each of five developer, advocate will get five coins sent to their address out of 25 total. With their benefit being based entirely on the long term value and viability of the altcoin, they would have every incentive to maintain a higher, stable value. If the altcoin eventually builds a $10 million market cap, each one would have $100k worth of their own coins, but only after working to build that kind of value.
if the premine is used to promote / repair the coin only and not make the devs money its best to have the whole amount to hand to pay for unexpected things
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