It would appear that, even before the "mining" disaster, IE had done a bit of instamine himself, just a few thousand coins, though: 1 BYC per block was being mined before the official release of the wallet, up to block 3,109, at which time the total BYC balance was... well, of course 3,109. In block 3,110, the ICO sale coins were injected -or what was left to be mined of the ICO sale, because all that was also arbitrarily modified but in an acceptable, relatively transparent manner: Instead of having mined the 3 million coins he had offered for sale and have Bittrex destroying the non-sold ones, IE decided it was better to just mine the coins sold only instead... which leaves about 2,840,000 BYC more to be mined than originally promised, but since mining was supposed to rate at no more than 1440 BYC per day, it did not look like something worth paying too much attention to.
I'm sure IE has a perfectly good explanation for this... I read he will be making an announcement within a few hours... currently, the "instamine disaster", post release of the wallet, is quickly approaching 20% with the difficulty seemingly stuck at 5.99 and approximately 20 coins being mined per minute.
IE has several options... at this point all of them not very good but all of them but one could, maybe, salvage BYC. The one is, obviously, continuing with this madness as he has since yesterday refusing to correct it. Options:
1.- refund investors.
2.- cancel this disaster and relaunch.
3.- fork and destroy all coins mined.
If none of these are adopted immediately, Bittrex should act forcing the refund option.
Edit to add:
At 5:00am Pacific, difficulty has reached 6 but still blocks being mined at approximately 20 per minute and already 26,200 BYC have been mined = 16.375% of the total.
Your post is funny at best and a bit pathetic.
Oh no, the scam I was participating in didn't work out the way I wanted
I was expecting to be able to dump on noobie buyers, but too many coin have been released before I had time to dump
poor you... I am sorry, but I don't feel sorry for you.
You support scam and shady practices, this is what happen in your idealistic "get rich quick" business model
You got what you deserved