Quote from: Lukas_Jackson on August 14, 2015, 10:46:41 AM

Quote from: BitcoinForumator on August 14, 2015, 10:45:23 AM

Don't forget that smooth got the 2.5% when people donated it, it wasn't an instamine.

Small difficulty is instamining.
Get it?

No, I don't agree.

Coin difficulties go up and down over time, as with any market. It isn't instamining to be mining when other people think it is a bad idea. That's being contrarian, a sometimes-good but often-foolish investment strategy.

With time and slow distribution comes the opportunity to be contemplative, to make mistakes and correct them without large effect. It is possible for non-privileged participants to study the situation and make a reasoned, informed decision whether to participate. There are also opportunities to point out errors, implement fixes, and so forth. It is hard for any material misleading statements to be made, because there is time to check facts and scrutinize.

None of that exists with a true instamine.

Instamining is when you can mine an enormous amount during a very short period of time, and since the short time factor is so critical, there is a an exceptionally large vulnerability to other fraud or manipulation. This includes starting the mining early, having bugs in the code, or not providing Windows binaries, all of which are among the issues which we know occurred with Dash. Otherwise-small errors or ethical lapses become highly amplified in effect when 40% of the 18-months-in supply is mined in just hours (a large portion of that in just one hour).

None of that happened with AEON. Anyone who wanted to take the risk of spending his time, effort, and/or mining on mining it had months to do so (but at the same time had to maintain computers, keep them going, etc. for months), and in doing so were taking risks that it would all be a waste. Others had time to get in, and no one could be excluded by giving deceptive or misleading information about a start time or not providing software that can work on their computer. In fact no one is excluded even now and the opportunity to mine in meaningful amounts is still open to anyone.