Topic: Thoughts on Max Keiser&#039;s coin (Maxcoin) - page 7. (Read 15381 times)

Nope http://motherboard.vice.com/blog/bitcoin-mints-its-first-billionaire-satoshi-nakamoto

You mean same way as people deserve the know Satoshi premined the crap out of Bitcoin and yet we're talking on a Bitcoin forum aren't we. It's one thing to voice your opinion once or twice to get the point across and it's something else entirely to repeat like a moron same thing dozens of times.

Some money is hard earned some it's not. Cut the cliche BS.

I don't give a shit about your path but you obviously give a shit about Maxcoin's path and obviously no one cares much about your inclinations either.

Satoshi didn't premine, he mined only the genesis block (50 coins worth) and then released the code into the public domain...
people didn't pick up on it for many many moons... that's how the early adopters were able to accumulate so many coins...

do you even know what premining is Huh

?

if he mines and releases it to the public and nobody else mines because they cant see the value in it.. THAT IS NOT PREMINING...
he got that many coins because the hash rate simply didn't climb as fast back then as it does now... there was basically just a small group of people mining for years.... but that doesn't mean they were premining... anyone could have joined in at any time. all the info source code etc were available from day 1. cmon mate wikis aren't that hard to read are they?

Quote

In November 2008, a paper was posted on the internet under the name Satoshi Nakamoto titled Bitcoin: A Peer-to-Peer Electronic Cash System. This paper detailed methods of using a peer-to-peer network to generate what was described as "a system for electronic transactions without relying on trust".[8][9][10][11] In January 2009, the Bitcoin network came into existence with the release of the first open source Bitcoin client and the issuance of the first bitcoins,[9][12][13][14] with Satoshi Nakamoto mining the first block of bitcoins ever (known as the "genesis block"), which had a reward of 50 bitcoins. The value of the first bitcoin transactions were negotiated by individuals on the bitcointalk forums with one notable transaction involving a 10,000 BTC pizza.[9]
In January of 2009, Satoshi started mining the first crop of bitcoin, creating what is known as the “genesis block.” By year-end, over 32,000 blocks had been added to this original block, producing a total of 1,624,250 bitcoins. Since all transactions are public on the blockchain, we know that only a quarter of those bitcoins have ever changed hands, which means Satoshi is believed to be sitting on a stash of roughly one million bitcoins. With Bitcoin surging past $1000, that stash is worth about $1.1 billion.

http://en.wikipedia.org/wiki/History_of_Bitcoin

Yeah but we were talking here about fair and unfair launches. Point is Maxcoin got huge exposure, LOTS of people found out about it, probably way more than Bitcoin users in those early days.

So to say Maxcoin launch was unfair because some people only started mining the 2nd day and not the very first day is stupid, as plenty of people who knew about the launch were able to easily mine the shit out of it.

That's my point. Maxcoin launch was fairer than many other launches when you think about it. Almost everyone in the Bitcoin community knew about it and were able to get their hands on client and mining info on 1st day if they were tech savvy or the very next day if they were less tech savvy. So I don't really see the issue with this launch.

Alphi

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Quote from: Herp on February 10, 2014, 04:56:07 PM

Quote from: Alphi on February 10, 2014, 04:47:38 PM

Nope http://motherboard.vice.com/blog/bitcoin-mints-its-first-billionaire-satoshi-nakamoto

You mean same way as people deserve the know Satoshi premined the crap out of Bitcoin and yet we're talking on a Bitcoin forum aren't we. It's one thing to voice your opinion once or twice to get the point across and it's something else entirely to repeat like a moron same thing dozens of times.

Some money is hard earned some it's not. Cut the cliche BS.

I don't give a shit about your path but you obviously give a shit about Maxcoin's path and obviously no one cares much about your inclinations either.

Satoshi didn't premine, he mined only the genesis block (50 coins worth) and then released the code into the public domain...
people didn't pick up on it for many many moons... that's how the early adopters were able to accumulate so many coins...

do you even know what premining is Huh

?

if he mines and releases it to the public and nobody else mines because they cant see the value in it.. THAT IS NOT PREMINING...
he got that many coins because the hash rate simply didn't climb as fast back then as it does now... there was basically just a small group of people mining for years.... but that doesn't mean they were premining... anyone could have joined in at any time. all the info source code etc were available from day 1. cmon mate wikis aren't that hard to read are they?

Quote

In November 2008, a paper was posted on the internet under the name Satoshi Nakamoto titled Bitcoin: A Peer-to-Peer Electronic Cash System. This paper detailed methods of using a peer-to-peer network to generate what was described as "a system for electronic transactions without relying on trust".[8][9][10][11] In January 2009, the Bitcoin network came into existence with the release of the first open source Bitcoin client and the issuance of the first bitcoins,[9][12][13][14] with Satoshi Nakamoto mining the first block of bitcoins ever (known as the "genesis block"), which had a reward of 50 bitcoins. The value of the first bitcoin transactions were negotiated by individuals on the bitcointalk forums with one notable transaction involving a 10,000 BTC pizza.[9]
In January of 2009, Satoshi started mining the first crop of bitcoin, creating what is known as the “genesis block.” By year-end, over 32,000 blocks had been added to this original block, producing a total of 1,624,250 bitcoins. Since all transactions are public on the blockchain, we know that only a quarter of those bitcoins have ever changed hands, which means Satoshi is believed to be sitting on a stash of roughly one million bitcoins. With Bitcoin surging past $1000, that stash is worth about $1.1 billion.

http://en.wikipedia.org/wiki/History_of_Bitcoin

Herp

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Quote from: Alphi on February 10, 2014, 04:47:38 PM

You mean same way as people deserve the know Satoshi premined the crap out of Bitcoin and yet we're talking on a Bitcoin forum aren't we. It's one thing to voice your opinion once or twice to get the point across and it's something else entirely to repeat like a moron same thing dozens of times.

Some money is hard earned some it's not. Cut the cliche BS.

I don't give a shit about your path but you obviously give a shit about Maxcoin's path and obviously no one cares much about your inclinations either.

Please have somebody explain to you what "Premine" is.

You're an idiot and I can definitely explain that to you but you're doing a great job of it, so carry on!

The were a total of 50 BTC, 1 block at the time was premined and that was necessary to launch the chain.

Crypto currencies didn't exist and the client released worked just fine. Everyone who early mined BTC had a fair chance, no so with MAX, not even close.

BTW, I am one of the more technically capable people with more GPU hashing power than 95% of the people on Bitcointalk.

I absolutely slaughtered the early MAX mining.

Now that being said MAX WAS NOT premined, it was instamined by a coordinated FUBAR of a launch designed to give the devs a huge advantage.

It was a huge success from their perspective.

By constant drumming of "move on, pay no attention to the man behind the curtain" you are doing way more damage than helping.

~BCX~

You are the idiot because as I was talking about Satoshi not Maxcoin in that context. And no Satoshi didn't mine just 50 Bitcoin. He mined much more when not many heard about Bitcoin. You can call it mine or pre-mine. Doesn't matter much. We were talking about fair and unfair launches. Get it? Idiots have a problem understanding analogies. You clearly suffer from this affliction.

Quote

In January of 2009, Satoshi started mining the first crop of bitcoin, creating what is known as the “genesis block.” By year-end, over 32,000 blocks had been added to this original block, producing a total of 1,624,250 bitcoins. Since all transactions are public on the blockchain, we know that only a quarter of those bitcoins have ever changed hands, which means Satoshi is believed to be sitting on a stash of roughly one million bitcoins. With Bitcoin surging past $1000, that stash is worth about $1.1 billion.

http://motherboard.vice.com/blog/bitcoin-mints-its-first-billionaire-satoshi-nakamoto

Herp

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Nope http://motherboard.vice.com/blog/bitcoin-mints-its-first-billionaire-satoshi-nakamoto

You mean same way as people deserve the know Satoshi premined the crap out of Bitcoin and yet we're talking on a Bitcoin forum aren't we. It's one thing to voice your opinion once or twice to get the point across and it's something else entirely to repeat like a moron same thing dozens of times.

Some money is hard earned some it's not. Cut the cliche BS.

I don't give a shit about your path but you obviously give a shit about Maxcoin's path and obviously no one cares much about your inclinations either.

Satoshi didn't premine, he mined only the genesis block (50 coins worth) and then released the code into the public domain...
people didn't pick up on it for many many moons... that's how the early adopters were able to accumulate so many coins...

Quote

In January of 2009, Satoshi started mining the first crop of bitcoin, creating what is known as the “genesis block.” By year-end, over 32,000 blocks had been added to this original block, producing a total of 1,624,250 bitcoins. Since all transactions are public on the blockchain, we know that only a quarter of those bitcoins have ever changed hands, which means Satoshi is believed to be sitting on a stash of roughly one million bitcoins. With Bitcoin surging past $1000, that stash is worth about $1.1 billion.

Herp

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Quote from: Alphi on February 10, 2014, 04:34:36 PM

Quote from: Nullu on February 10, 2014, 03:13:23 PM

Those people bitching because they are less tech savvy only lost 1 day of mining.

That was the killer profit window that was monopolized by the devs.

It went off exactly as planned.

~BCX~

Kind of sad that other people can't see the bleeding obvious. The devs were mining the hell out of this from the start.

as much as I disliked the launch... I have to say this.. even if the Devs were mining with GPU miners from the very first second after launch (or even the day before).... they would have gotten much less than .01% of the coins.. that is still lower than almost all of the other coins out there and probably better than any of the other coins that had any kind pre-mine (many do).... so even if the devs were planing to make a "killing" they probably didn't.... I saw on twitter some guy with a farm bragging about how he got 13K coins... sadly that's not enough to make anyone a millionaire.. well not for a few years anyways... (and maybe never).. if they wanted to "get rich quick" they would have had to mine this coin for weeks with a farm before launching....

Exactly. Well said!

Quote

The fact that there was so much initial hype about the coin ensured that the 'easiest' blocks were distributed far more fairly than even the early bitcoin blocks were. So nobody can honestly say that this was an unfair launch.

http://www.reddit.com/r/maxcoinproject/comments/1xhik4/maxcoin_one_of_the_fairest_initial_distributions/

Alphi

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Quote from: Nullu on February 10, 2014, 03:13:23 PM

You mean same way as people deserve the know Satoshi premined the crap out of Bitcoin and yet we're talking on a Bitcoin forum aren't we. It's one thing to voice your opinion once or twice to get the point across and it's something else entirely to repeat like a moron same thing dozens of times.

Some money is hard earned some it's not. Cut the cliche BS.

I don't give a shit about your path but you obviously give a shit about Maxcoin's path and obviously no one cares much about your inclinations either.

Satoshi didn't premine, he mined only the genesis block (50 coins worth) and then released the code into the public domain...
people didn't pick up on it for many many moons... that's how the early adopters were able to accumulate so many coins...

people also forget that satoshi invented the technology.. he/they didn't just copy someone else's work and try to cash in on it.

inventing a ground breaking technology and then just giving it away for free is about as altruistic as a person can get... the guy(s) could have patented the tech and then reaped way more money in the form of royalties from all the silly clones that keep getting launched.. but he/they didn't...

are the maxcoin devs going to work for nothing? if the MAX price drops bellow 0.000001 lets see how many people stick around to support this ~~me2~~ ahem "breaking new technology"..

EDIt.. I should also add that the second guy on the bitcoin scene... Gavin Andreson bought 10,000 btc for 50 bucks and then gave them all away over a period of a few years... its not like he got rich off MINING (in any form).. and he is now the worlds Number #1 Bitcoin guy....

Alphi

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Quote from: Nullu on February 10, 2014, 03:29:14 PM

Those people bitching because they are less tech savvy only lost 1 day of mining.

That was the killer profit window that was monopolized by the devs.

It went off exactly as planned.

~BCX~

Kind of sad that other people can't see the bleeding obvious. The devs were mining the hell out of this from the start.

as much as I disliked the launch... I have to say this.. even if the Devs were mining with GPU miners from the very first second after launch (or even the day before).... they would have gotten much less than .01% of the coins.. that is still lower than almost all of the other coins out there and probably better than any of the other coins that had any kind pre-mine (many do).... so even if the devs were planing to make a "killing" they probably didn't.... I saw on twitter some guy with a farm bragging about how he got 13K coins... sadly that's not enough to make anyone a millionaire.. well not for a few years anyways... (and maybe never).. if they wanted to "get rich quick" they would have had to mine this coin for weeks with a farm before launching....

Herp

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Quote from: Herp on February 10, 2014, 03:18:57 PM

Quote from: Nullu on February 10, 2014, 03:13:23 PM

Those people bitching because they are less tech savvy only lost 1 day of mining.

That was the killer profit window that was monopolized by the devs.

It went off exactly as planned.

~BCX~

Kind of sad that other people can't see the bleeding obvious. The devs were mining the hell out of this from the start.

Not the point. Can we move on from the stupid 1st day mining issues? It doesn't make or break a coin. Satoshi premined the shit out of Bitcoin and he owns big chunk of all Bitcoins created. So please cut this 1st day linux only mining BS. I'm sick of hearing this crap over n over. Bunch of silly crybabies. Just get over it already.

I'm sorry that the path to riches isn't as easy as you would like it to be.

People are entitled to voice their opinions, and if they want to complain about how god awful the launch was (which it damn well was), they will. It's not like it's going to devalue the coins in your pocket. If people are going to invest their hard earned money in something, then they deserve to know.

My "path" is doing just fine without Maxcoin. I could buy more than enough of them to join the hype if I was so inclined. However inclined I am not.

You mean same way as people deserve the know Satoshi premined the crap out of Bitcoin and yet we're talking on a Bitcoin forum aren't we. It's one thing to voice your opinion once or twice to get the point across and it's something else entirely to repeat like a moron same thing dozens of times.

Some money is hard earned some it's not. Cut the cliche BS.

I don't give a shit about your path but you obviously give a shit about Maxcoin's path and obviously no one cares much about your inclinations either.

Herp

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Quote from: Herp on February 10, 2014, 03:18:57 PM

Not the point. Can we move on from the stupid 1st day mining issues?

I bet you do want people to move on.

You want people to forget that an overwhelming majority of the profit from the first 24 hours was the developers.

You're so obvious it hurt!

~BCX~

People will move on except for few sour grapes bitter selfish individuals. As I was saying earlier, Satoshi premined and owns lots of Bitcoins. In this case no one can prove devs or Max himself pre-mined this. Of course we can speculate about it but speculation is no proof.

flounderella

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Bitcoin Evengelist

Given the current price its trading at, the best any holders of the coin can hope for is to maintain its value relative to BTC. It will be volatile and you can trade around it but overall don't see too much upside from here

Nullu

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Quote from: Herp on February 10, 2014, 03:18:57 PM

Quote from: Nullu on February 10, 2014, 03:13:23 PM

Quote from: Nullu on February 10, 2014, 03:13:23 PM

Those people bitching because they are less tech savvy only lost 1 day of mining.

That was the killer profit window that was monopolized by the devs.

It went off exactly as planned.

~BCX~

Kind of sad that other people can't see the bleeding obvious. The devs were mining the hell out of this from the start.

Not the point. Can we move on from the stupid 1st day mining issues? It doesn't make or break a coin. Satoshi premined the shit out of Bitcoin and he owns big chunk of all Bitcoins created. So please cut this 1st day linux only mining BS. I'm sick of hearing this crap over n over. Bunch of silly crybabies. Just get over it already.

I'm sorry that the path to riches isn't as easy as you would like it to be.

People are entitled to voice their opinions, and if they want to complain about how god awful the launch was (which it damn well was), they will. It's not like it's going to devalue the coins in your pocket. If people are going to invest their hard earned money in something, then they deserve to know.

My "path" is doing just fine without Maxcoin. I could buy more than enough of them to join the hype if I was so inclined. However inclined I am not.

Herp

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Those people bitching because they are less tech savvy only lost 1 day of mining.

That was the killer profit window that was monopolized by the devs.

It went off exactly as planned.

~BCX~

Kind of sad that other people can't see the bleeding obvious. The devs were mining the hell out of this from the start.

Not the point. Can we move on from the stupid 1st day mining issues? It doesn't make or break a coin. Satoshi premined the shit out of Bitcoin and he owns big chunk of all Bitcoins created. So please cut this 1st day linux only mining BS. I'm sick of hearing this crap over n over. Bunch of silly crybabies. Just get over it already.

I'm sorry that the path to riches isn't as easy as you would like it to be.

Nullu

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Quote from: juve4v on February 10, 2014, 01:51:17 PM

Those people bitching because they are less tech savvy only lost 1 day of mining.

That was the killer profit window that was monopolized by the devs.

It went off exactly as planned.

~BCX~

Kind of sad that other people can't see the bleeding obvious. The devs were mining the hell out of this from the start.

Herp

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Quote from: crazy_rabbit on February 10, 2014, 01:11:28 PM

Quote from: crazy_rabbit on February 10, 2014, 01:11:28 PM

Those people bitching because they are less tech savvy only lost 1 day of mining.

That was the killer profit window that was monopolized by the devs.

It went off exactly as planned.

~BCX~

Perhaps, but if someone is looking to invest in alt-coins, it's hard to beat a celebrity face with direct access to the media. When Coblee started litecoin the alt-coin community had a fraction of the open source services and scripts it has today and it had a slug it out for a long time. If I read right, you can already buy maxcoin for fiat- 3 days after launch. That's pretty impressive.

I think the project will be a success and I'm buying my own stash of coins to reflect my feelings. It's as innovative as litecoin was at the time when it came out, has a full infrastructure right out of the box, and large investors who are incentivised to buy. Hard to argue with that.

+1 My thoughts as well. Glad to see this forum is not all full of dumb people crying all day long about wallet not syncing or working from day 1 and their missed opportunity to mine it. Some should at least consider maxcoin as a natural born pump/dump coin that has MONEY written all over it MONEY from mining, MONEY from trading.

Actually I see this coin as surviving same as Litecoin, Primecoin or other coins. I don't think it will go away anytime soon. It has the capital behind it, which frankly Litecoin doesn't have, nor the free marketing Keiser can bring to the table. It can easily overtake the likes of Namecoin, Feathercoin, Primecoin and so on.

juve4v

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Those people bitching because they are less tech savvy only lost 1 day of mining.

That was the killer profit window that was monopolized by the devs.

It went off exactly as planned.

~BCX~

Perhaps, but if someone is looking to invest in alt-coins, it's hard to beat a celebrity face with direct access to the media. When Coblee started litecoin the alt-coin community had a fraction of the open source services and scripts it has today and it had a slug it out for a long time. If I read right, you can already buy maxcoin for fiat- 3 days after launch. That's pretty impressive.

I think the project will be a success and I'm buying my own stash of coins to reflect my feelings. It's as innovative as litecoin was at the time when it came out, has a full infrastructure right out of the box, and large investors who are incentivised to buy. Hard to argue with that.

+1 My thoughts as well. Glad to see this forum is not all full of dumb people crying all day long about wallet not syncing or working from day 1 and their missed opportunity to mine it. Some should at least consider maxcoin as a natural born pump/dump coin that has MONEY written all over it MONEY from mining, MONEY from trading.

crazy_rabbit

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