Post
Topic
Board Service Announcements (Altcoins)
Re: CoinMarketCap.com - Market Cap Rankings of All Cryptocurrencies!
by
MasterMined710
on 27/04/2015, 15:56:17 UTC
this is gonna get ugly. no coins have had perfectly fair launches or have "fair" initial distribution including bitcoin.

DASH was not premined and i think everyone agrees with that so the "significantly premined" label must be changed.
instamine has no real definition and could refer to a lot of coins including monero which was launched with a deoptimized miner (nobody disputes this) where at least 2.5% to 5%+ of the coins were "instamined" and/or "unfair mined" by a few people.

you also have a lot of POS coins that have a very short pow phase from a few days (crave) up to 1-3 weeks that could also be considered a instamine. most of those coins don't clearly state this short pow phase in their ANN thread. they only say pow phase has completed and give a block number but few say they were instamined in 4 days or whatever it was.



"Yes i'm well aware of the (Monero deoptimized miner scam). They mined say 2.5% of the coins over several months... Good for them." Smooth

Looks like the monero fanboys got coinmarket cap to add ** against DASH: significantly premined

https://bitcointalk.org/index.php?topic=199685.msg11195469#msg11195469

I don't get this. A instamine is not a premine. The devs did not preemptively take a large number of coins out of circulation. I wonder if money changed hands here to get us listed as such. Shame on coinmarketcap, shame on the Monero shills/devs.

I have to say I did not tell them it was a premine. I told them it was an instamine
snip



You quoted threads posted by people that obviously had a beef with Darkcoin, your Darkcoin hate thread included.

Trying to say optimised miners were created is one thing. Monero miners were being overwhelmed by optimised miners at one end, and code baked in to rig the game at the other end.

Following a predefined trajectory yes, but with one or two people skimming most of the coins of that trajectory.

That's just another definition for instamined. If you had participated in the deoptimization I would have called you a scammer. You seem to have been the victim of the scam, along with everyone else, so I'll leave it as instamined for several months.

You need to submit that to coinmarketcap and to request Monero be flagged as instamined by a possible rouge dev.



-snip-

I don't know the full background history of Monero, but I did join early on. I will give you and tactotime props for stepping in to save a project.

However, on the basis of what you have said about Darkcoin, you should offer up to coinmarketcap a similar desire to have Monero listed as premined / instamined because it was forked from BCN and the code contained depotimisation to rig the mining game, apparently.

You may not have known that, but its a fact that Monero miners were being ripped off. You took over the project because you suspected the dev was a scammer but you didn't relaunch.

Then you just discovered an issue post fact.

The issue may have been resolved, but it still stands. Monero was instamined for the best part of two months, or more.

"Bitmonero was a fork of Bytecoin designed to not have the 80% premine.  But its initial developer either didn't know, didn't care, or wanted to profit from the de-optimized hashing.  That initial developer was pretty quickly given the boot by the community, and in came an unrelated group of developers who took it over---who were, as far as I can tell, completely unaware of the deoptimization.  So things sat there for a few weeks in the same state as Bytecoin."

http://da-data.blogspot.co.uk/2014/08/minting-money-with-monero-and-cpu.html

You as one of the devs should have worked out there was a problem and not have been told about it but some kid who needed to get permission from his parents to keep spewing out hundreds of thousands of coins and dumping them for a profit.  Wait no, devs don't make mistakes.

Now you suspect a botnet attack, which could easily be more of the above.

You should offer this information up to coinmarketcap to demonstrate you are not just trying to attack the competition, but you genuinely want fair play.
Son if bitch... Really?    Holy fn smokes.  So these bastards have been here squaking for months about instamined BULLSHIT and their own coin was Instamined for 2 months.    
snip

TLDR: if DASH has an asterisk it should have to do with initial distribution issues and monero should have an asterisk too.