Was WDC premined/instamined? (like phenixcoin and FTC) - page 2.

krasnyoktyabr

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Activity: 140

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Quote from: markm on July 30, 2013, 10:09:21 PM

Quote from: flyingcat on July 30, 2013, 10:02:54 PM

remember, all coins release at diff 0 always cause instamining, these coins are not grabbed by the dev, but by the guys having big hash power. There was no implementation of "accelerated diff adjusting" in WDC (1st time implemented in LKY that was released after WDC). So all the coins released at that time was instamined by the big hash powers. Nothing is strange there, just the life of alt coins.

It was totally deliberate, with aforesight, what would happen was well known, yet they went ahead with a scam anyway instead of an actual attempt to correct that known scam, so it was just another scam. Using the excuse that it was a time of scammers, an age when scammers walked the earth, the age of scams etc is just the usual scammer patter.

-MarkM-

You're joking right? They obviously tried to do something about it.

Feathercoin's instamine was 3 million coins, and it remains 25% of the total coins created. It took 18 days to match the coins created on feathercoin's first day.

Worldcoin's instamine was 445 thousand coins, and it remains 3% of the total coins created. It took 3 days to match the coins created during worldcoin's instamine.

There have been numerous implementations to remove the impact of the instamine, and as coins go, the WDC instamine was largely contained.

FiiNALiZE

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Quote from: markm on July 30, 2013, 10:09:21 PM

Quote from: flyingcat on July 30, 2013, 10:02:54 PM

remember, all coins release at diff 0 always cause instamining, these coins are not grabbed by the dev, but by the guys having big hash power. There was no implementation of "accelerated diff adjusting" in WDC (1st time implemented in LKY that was released after WDC). So all the coins released at that time was instamined by the big hash powers. Nothing is strange there, just the life of alt coins.

It was totally deliberate, with aforesight, what would happen was well known, yet they went ahead with a scam anyway instead of an actual attempt to correct that known scam, so it was just another scam. Using the excuse that it was a time of scammers, an age when scammers walked the earth, the age of scams etc is just the usual scammer patter.

-MarkM-

Thank you for delineating this scam for me; I was about to get scammed by this scamcoin but I managed to scam myself out of getting scammed. If you are holding any of this scamcoin, please consider giving those scamcoins to me because the longer you hold onto those scamcoins, the more likely you are going to get scammed by an insidious scammer in the future.

markm

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Activity: 2940

Merit: 1090

Quote from: flyingcat on July 30, 2013, 10:02:54 PM

remember, all coins release at diff 0 always cause instamining, these coins are not grabbed by the dev, but by the guys having big hash power. There was no implementation of "accelerated diff adjusting" in WDC (1st time implemented in LKY that was released after WDC). So all the coins released at that time was instamined by the big hash powers. Nothing is strange there, just the life of alt coins.

It was totally deliberate, with aforesight, what would happen was well known, yet they went ahead with a scam anyway instead of an actual attempt to correct that known scam, so it was just another scam. Using the excuse that it was a time of scammers, an age when scammers walked the earth, the age of scams etc is just the usual scammer patter.

-MarkM-

flyingcat

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Activity: 588

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Quote from: BigDaddyWooWoo on July 30, 2013, 08:40:36 PM

Quote from: BitJohn on July 30, 2013, 07:55:19 PM

Quote from: NWO on July 30, 2013, 07:33:24 PM

Quote from: krasnyoktyabr on July 30, 2013, 06:42:38 PM

This graph is extremely misleading because of the way the coin was released.

The coin was released on "Hour 45" after the genesis block was mined.

Hour 45: 64 minted
Hour 46: 25,024 minted <-- Instamine
Hour 47: 163,808 minted <-- Instamine
Hour 48: 71,744 minted <-- Instamine
_____________________ END DAY 2

Hour 49: 52,480 minted <-- Instamine
Hour 50: 40,736 minted <-- Instamine
Hour 51: 37,856 minted <-- Instamine
Hour 52: 27,680 minted <-- Instamine
Hour 53: 25,400 minted <-- Instamine

After that the difficulty catches up. The hourly currency creation rate for WDC should be about 7680 WDC per hour. http://cryptometer.org/worldcoin_96_hour_charts.html

Those 8 hours, from hour 46 to hour 53, about 445,000 WDC were minted, Which is 7 times as many coins as should have been created during that same period of time. It isn't as bad as FTC or MNC, but there definitely was an instamine when WDC hit the forums.

Nice work! A lot of people are set to lose everything if they do not know what they are investing in.

I would still say WDC was a fair release. Should have had higher start difficulty probably. Still a great start compared to many other ALT's some fairly popular alts had 90% of all coins generated in the first day. I would call 11% in first two days still pretty good. Any coin besides Bottlecaps start with a high difficulty to prevent the instamine?

I'm with Bitjohn on this. I'd say it was a fair release also. In terms of scale of premine in comparison to overall coin circulation it's hardly measurable and the gap widens everyday. Besides, at the current price I don't think anyone is quitting their day job any time soon.

remember, all coins release at diff 0 always cause instamining, these coins are not grabbed by the dev, but by the guys having big hash power. There was no implementation of "accelerated diff adjusting" in WDC (1st time implemented in LKY that was released after WDC). So all the coins released at that time was instamined by the big hash powers. Nothing is strange there, just the life of alt coins.

markm

legendary

Activity: 2940

Merit: 1090

"You're complaining about a mere rape?!?! You're still alive, aren't you? Compared to being murdered, you're not hardly a victim at all, get over it already! Think of all the dead in Africa / World War II / The Holocaust / Etc, you're the lucky one here fergoshsakes!"

(Back in the day, we lived in shoeboxes in the middle of the street, and the middle was where the gutter was, and all the overhanging houses dumped their nightsoil on us, and forget walking uphill to school, we didn't even have schools, you younguns have it easy!)

-MarkM-

BigDaddyWooWoo

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Quote from: BitJohn on July 30, 2013, 07:55:19 PM

Quote from: NWO on July 30, 2013, 07:33:24 PM

Quote from: krasnyoktyabr on July 30, 2013, 06:42:38 PM

This graph is extremely misleading because of the way the coin was released.

The coin was released on "Hour 45" after the genesis block was mined.

Hour 45: 64 minted
Hour 46: 25,024 minted <-- Instamine
Hour 47: 163,808 minted <-- Instamine
Hour 48: 71,744 minted <-- Instamine
_____________________ END DAY 2

Hour 49: 52,480 minted <-- Instamine
Hour 50: 40,736 minted <-- Instamine
Hour 51: 37,856 minted <-- Instamine
Hour 52: 27,680 minted <-- Instamine
Hour 53: 25,400 minted <-- Instamine

After that the difficulty catches up. The hourly currency creation rate for WDC should be about 7680 WDC per hour. http://cryptometer.org/worldcoin_96_hour_charts.html

Those 8 hours, from hour 46 to hour 53, about 445,000 WDC were minted, Which is 7 times as many coins as should have been created during that same period of time. It isn't as bad as FTC or MNC, but there definitely was an instamine when WDC hit the forums.

Nice work! A lot of people are set to lose everything if they do not know what they are investing in.

I would still say WDC was a fair release. Should have had higher start difficulty probably. Still a great start compared to many other ALT's some fairly popular alts had 90% of all coins generated in the first day. I would call 11% in first two days still pretty good. Any coin besides Bottlecaps start with a high difficulty to prevent the instamine?

I'm with Bitjohn on this. I'd say it was a fair release also. In terms of scale of premine in comparison to overall coin circulation it's hardly measurable and the gap widens everyday. Besides, at the current price I don't think anyone is quitting their day job any time soon.

FiNaLize

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Activity: 212

Merit: 100

This is why no one takes alt coins seriously. You are ruining it with your premines/instamines. And the worst part no one admits it untill they get caught.

Lauda

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Activity: 2674

Merit: 2965

Terminated.

Premined, scamcoin like other Unocs coins.

BitJohn

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Activity: 826

Merit: 1001

@Bit_John

Quote from: NWO on July 30, 2013, 07:33:24 PM

Quote from: krasnyoktyabr on July 30, 2013, 06:42:38 PM

This graph is extremely misleading because of the way the coin was released.

The coin was released on "Hour 45" after the genesis block was mined.

Hour 45: 64 minted
Hour 46: 25,024 minted <-- Instamine
Hour 47: 163,808 minted <-- Instamine
Hour 48: 71,744 minted <-- Instamine
_____________________ END DAY 2

Hour 49: 52,480 minted <-- Instamine
Hour 50: 40,736 minted <-- Instamine
Hour 51: 37,856 minted <-- Instamine
Hour 52: 27,680 minted <-- Instamine
Hour 53: 25,400 minted <-- Instamine

After that the difficulty catches up. The hourly currency creation rate for WDC should be about 7680 WDC per hour. http://cryptometer.org/worldcoin_96_hour_charts.html

Those 8 hours, from hour 46 to hour 53, about 445,000 WDC were minted, Which is 7 times as many coins as should have been created during that same period of time. It isn't as bad as FTC or MNC, but there definitely was an instamine when WDC hit the forums.

Nice work! A lot of people are set to lose everything if they do not know what they are investing in.

I would still say WDC was a fair release. Should have had higher start difficulty probably. Still a great start compared to many other ALT's some fairly popular alts had 90% of all coins generated in the first day. I would call 11% in first two days still pretty good. Any coin besides Bottlecaps start with a high difficulty to prevent the instamine?

krasnyoktyabr

full member

Activity: 140

Merit: 100

I don't want it to be misconstrued. I have nothing against UNOCS and especially not WDC. (Although I am disappointed with the decision to reduce the block time by half)

WDC lead the way with one of the first truly progressive starts. It is false to say that there was no WDC instamine, but it would be equally misleading to blow up those 400,000 WDC that were minted during those 8 hours. There are over 13 million WDC right now. We're talking about an instamine of about 3%. Hardly noticeable at this point.

There were 3 MILLION FTC minted on the first day out of the less than 12 million coins that currently exist. That's 25% of all the coins currently in circulation, and feathercoin is significantly older than WDC.

It took WDC 3 days to match that instamine, but it took feathercoin an additional 18 days to match its instamine. WDC was the first relatively fair launch, but there was still an instamine.

NWO

sr. member

Activity: 392

Merit: 250

Quote from: krasnyoktyabr on July 30, 2013, 06:42:38 PM

This graph is extremely misleading because of the way the coin was released.

The coin was released on "Hour 45" after the genesis block was mined.

Hour 45: 64 minted
Hour 46: 25,024 minted <-- Instamine
Hour 47: 163,808 minted <-- Instamine
Hour 48: 71,744 minted <-- Instamine
_____________________ END DAY 2

Hour 49: 52,480 minted <-- Instamine
Hour 50: 40,736 minted <-- Instamine
Hour 51: 37,856 minted <-- Instamine
Hour 52: 27,680 minted <-- Instamine
Hour 53: 25,400 minted <-- Instamine

After that the difficulty catches up. The hourly currency creation rate for WDC should be about 7680 WDC per hour. http://cryptometer.org/worldcoin_96_hour_charts.html

Those 8 hours, from hour 46 to hour 53, about 445,000 WDC were minted, Which is 7 times as many coins as should have been created during that same period of time. It isn't as bad as FTC or MNC, but there definitely was an instamine when WDC hit the forums.

Nice work! A lot of people are set to lose everything if they do not know what they are investing in.

NWO

sr. member

Activity: 392

Merit: 250

Finally people are learning the truth about these 'UNOCS' coins... Roll Eyes

They all have either been premined or instamined. The only people who support them and yell FUD at the facts are the people with the lined FTC/ PXC/ WDC pockets.

ohiwastedmylif

member

Activity: 98

Merit: 10

Quote from: krasnyoktyabr on July 30, 2013, 06:42:38 PM

This graph is extremely misleading because of the way the coin was released.

The coin was released on "Hour 45" after the genesis block was mined.

Hour 45: 64 minted
Hour 46: 25,024 minted <-- Instamine
Hour 47: 163,808 minted <-- Instamine
Hour 48: 71,744 minted <-- Instamine
_____________________ END DAY 2

Hour 49: 52,480 minted <-- Instamine
Hour 50: 40,736 minted <-- Instamine
Hour 51: 37,856 minted <-- Instamine
Hour 52: 27,680 minted <-- Instamine
Hour 53: 25,400 minted <-- Instamine

After that the difficulty catches up. The hourly currency creation rate for WDC should be about 7680 WDC per hour. http://cryptometer.org/worldcoin_96_hour_charts.html

Those 8 hours, from hour 46 to hour 53, about 445,000 WDC were minted, Which is 7 times as many coins as should have been created during that same period of time. It isn't as bad as FTC or MNC, but there definitely was an instamine when WDC hit the forums.

Thank you for this, the truth needs to be known about these coins, and others. Certain individuals stand to make a lot of money and would love to keep that hidden.

FiNaLize

full member

Activity: 212

Merit: 100

what the hell, that one as well?!

krasnyoktyabr

full member

Activity: 140

Merit: 100

This graph is extremely misleading because of the way the coin was released.

The coin was released on "Hour 45" after the genesis block was mined.

Hour 45: 64 minted
Hour 46: 25,024 minted <-- Instamine
Hour 47: 163,808 minted <-- Instamine
Hour 48: 71,744 minted <-- Instamine
_____________________ END DAY 2

Hour 49: 52,480 minted <-- Instamine
Hour 50: 40,736 minted <-- Instamine
Hour 51: 37,856 minted <-- Instamine
Hour 52: 27,680 minted <-- Instamine
Hour 53: 25,400 minted <-- Instamine

After that the difficulty catches up. The hourly currency creation rate for WDC should be about 7680 WDC per hour. http://cryptometer.org/worldcoin_96_hour_charts.html

Those 8 hours, from hour 46 to hour 53, about 445,000 WDC were minted, Which is 7 times as many coins as should have been created during that same period of time. It isn't as bad as FTC or MNC, but there definitely was an instamine when WDC hit the forums.

FiNaLize

full member

Activity: 212

Merit: 100

OK thanks for the answers.

jdebunt

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simple answer : No.

More detailed answer : No, there was no premine.

Disastrus

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Activity: 145

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there were some topics about it allready.

And from what i read is that it didn't have a pre-mine

ohiwastedmylif

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Careful folks, you might get the 'FUD/Troll' label for posting legitimate questions.

markm

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Merit: 1090

Quote from: deadp00l on July 30, 2013, 03:59:25 PM

http://cryptometer.org/worldcoin_90_day_charts.html

Do those charts still leave out pre-mined coins though?

Seems to me I checked some a while back and found massive numbers of hard-coded aka pre-mined coins were not shown at all...

-MarkM-

Topic: Was WDC premined/instamined? (like phenixcoin and FTC) - page 2. (Read 3228 times)