What does it mean exactly for a coin to be instamined and ultra instamined?

vonross2012

member

Activity: 102

Merit: 10

Awsome... Thanks...

I'm guessing pretty soon the new coins will have to change their strategy to make any money at a new coin.
There has been so many rip off coins in the last month it will get old and people will stop falling for it except
the real newbies.

TheSwede75

full member

Activity: 224

Merit: 100

Quote from: MashRinx on May 24, 2013, 09:24:59 PM

Premine - someone(s) mining the coin before it is released to the public (usually they will state these are for "bounties" or for the coin's "federation", etc. personally, I say stay far away from any coin premined for ANY stated reason, but that's just me. Others may disagree, but usually because they too hold at least a few (probably more than a few) of the coins in question.

instamined - someone(s) ready to mine the coin very quickly after release

ultra instamined - someone(s) ready to mine the coin with a very high hasrate (large number of machines/GPUs when the coin is released

ultra instamined - See the 500 MH/s mining of LuckCoin from block 0-1k. Not a single working pool and a single miner crushing the network for 1000 blocks handing everyone else only orphans.

MashRinx

sr. member

Activity: 389

Merit: 250

Premine - someone(s) mining the coin before it is released to the public (usually they will state these are for "bounties" or for the coin's "federation", etc. personally, I say stay far away from any coin premined for ANY stated reason, but that's just me. Others may disagree, but usually because they too hold at least a few (probably more than a few) of the coins in question.

instamined - someone(s) ready to mine the coin very quickly after release

ultra instamined - someone(s) ready to mine the coin with a very high hasrate (large number of machines/GPUs when the coin is released