Quote from: nachoig on March 29, 2015, 03:45:49 AM

Quote from: Vispicious on March 29, 2015, 03:29:02 AM

Quote from: nachoig on March 29, 2015, 03:07:44 AM

Quote from: Vispicious on March 29, 2015, 02:32:17 AM

Quote from: generalizethis on March 29, 2015, 02:22:37 AM

Quote from: Vispicious on March 29, 2015, 01:54:03 AM

Hey, I'm a cryptocurrency "investor" if you call it that. I was looking for coins to buy in. I already chose Monero and Bitcoindark, then I came across DASH and thought why not. Then I searched more and found out DASH HAD A INSTAMINE??? WTF! Does anyone have more info? I came across 6 threads talking about the instamine, how bad was it? I dont want biased replies from DASH bagholders either.

Is it true? Was 2million fucking DASH coins, 50% of the damn supply mined in the first 48 hours??!! I want fucking answers, finding this out was like getting punched in the gut. If this coin got instamined at its release, fuck this shit!

Here's the long account: https://bitcointalk.org/index.php?topic=999886.0

Here's the short: Dev starts before he said he would, mines 500K first hour (1.5 mill in first 8 hours), and then tells everyone it was a bug, but never relaunches the coin, but does rename it twice (x, dark, dash).

OK I GOT IT FULLY NOW. like a idiot i bought INTO THIS PIECE OF SCAM DOODOO SHIT at .024 btc. why the hell is this scam even allowed? WTF, there should be a fucking warning message before exchanges allow you to buy this doodoo scam coin. this is freaking insane, where the hell is the police for this shit, it cant be legal.

I'd put a red flag into someone creating an account on BitcoinTalk just to ask this.

Anyway, instamines or unfair practices in cryptocurrencies per si are not illegal. And you call the police from what country? What they should do? Shutdown the network? Of course, they are questionable, specially on cases when you decide lately to change the mining reward schemes. The code is open and anyone can modify it, including the mining reward. These changes requires consensus to work. So, even this being a scam, it's not just the lead developer who is scamming. It's a scam built by consensus.

i admit im a dumbass for falling for this crap without digging deeper, which is why i came here in the first place. i know about consensus you need like 50% or more of the haspower to do changes, but thats exactly what happened isn it! i looked at the beginning of the thread where dash came out, and the lead developer eddufield probably had much more than 50% of the hashpower, so it wouldnt even matter about consensus

One thing is a 51% hashpower attack. Another thing is a (hard)fork. You don't need to control 51% or more of the network to do a hardfork of a coin. You can do it yourself, but it's up to the other people to accept these changes. Part of people can accept and other can't accept, and in this way you would have 2 versions of the coin running independently (and also incompatible). They could just stay at the original version or tried another scheme more compatible with the rythm of the first hours.

Of course, they did it wrong, and this is why I dislike Dash, but creating another topic about this, claimiing the police should be called and other things like this doesn't help in any way. Even worse, a state intervention in this could create a very very bad precedent for other cryptocurrencies (including the legit ones).

yea i know, im saying when dash was instamined the developer eddufield almost certainly had more than 50% of the hashpower and could do the hardfork, which he did do! it didnt matter cause hardly any1 was mining at that time

how would a state intervention make a bad precedent? i mean i guess itd bring unwanted attention, but this shit is Fucked up, and now im stuck holding these dash coins scam crap