Post
Topic
Board Service Announcements (Altcoins)
Re: CoinMarketCap.com - Market Cap Rankings of All Cryptocurrencies!
by
smooth
on 28/04/2015, 18:37:17 UTC
And the denying of it has is importance too:

There was nothing wrong with the history of Monero. It's one of if not the cleanest coins and launches in history.

Yes let's look at the context of that shall we rather than taking one sentence out of context:

The miner crap you keep bringing up didn't matter at all. Everyone who wanted to mine could not only mine on their own computers easily enough but could pay for cloud mining and still mine at a profit. You could mine as much as you wanted and get as many coins as you wanted. The only real difference was that the people with the optimized miners had lower costs so their profit was higher (they still paid a lot though). There was effectively zero instamine (better than even most other honestly-launched coins with slowly difficulty adjustment). Access to coins or mining was not limited in any way whatsoever.

I did not deny the deliberately de-optimized miner that was put in the code before the community took over. I said it did not prevent anyone from mining as many coins as they wanted, according to the original mining schedule, before, during, and after the period that the de-optimized code existed. It was fixed starting 19 days after launch to 29 days after launch, which means the maximum plausible advantage gained from it by the original scammer (who was thrown out for other reasons) was very small, I estimate at 1% of the coins or less. And we don't even know, by the way, a) that the original developer of bitmonero even knew about it (he just forked for the whole thing from from Bytecoin with very few changes) and b) that he or anyone else involved with the deliberate de-optimization even mined any coins at all at a cost advantage (others optimizing later doesn't count as a scam, it counts as being brilliant programmers who optimize which is something miners normally do)

If that's the best you can come up with in terms of Monero mining issues then I was correct after all. It was and is one of the cleanest coin launches ever. Certainly miles ahead of the huge Dash instamine and massive retroactive supply cut.