Post
Topic
Board Announcements (Altcoins)
Re: "I personally won't buy cloak because of the 7 day proof of work instamine."
by
MasterMined710
on 21/11/2015, 14:36:56 UTC
I'm going to leave this here.  Grin

I personally won't buy cloak because of the 7 day proof of work instamine.

LOL ^. But maybe to them it was a "FEATURE" hahaha


I guess instamining Dash in 2-3 days is GOOD....

than instamining Cloak for 7 days which is BAD  Cheesy

lol, boy you're wasting lots of time and digging deep aren't you. i made pretty good call on avoiding cloak yes i know thank you. i warned people about xc too and now monero these days.

my problem with the cloak instamine was that they mined the total initial coin supply (4.5m) in 7 days and went to a highly inflationary 6% POS reward. this unfairly gave all the coins that could ever be mined to a very small group of people who then staked it @ a whooping 6% and controlled the supply. i knew that type of distribution model was doomed to fail.

 i feel the same way about the highly inflationary monero emission curve where ~ half the coins were mined in the first year and will have "Roughly 86% mined in 4 years".
bitcoin is almost 7 years old and only has 75% mined. and the btc block reward is fixin to half and it will take them another 4+ years to get to monero's 86%.
so it will take btc (& ltc) ~11+ years to get to ~86% and monero only 4 years. it will probably take dash another 20 years to get to 86%.

here's more of what i said about cloak around that time...
"Cloakcoin had a failed Ninja launch with a 7 day pow 4.5 million coin instamine that has a 6% pos inflation issue. it's also a self-moderated thread that has been censored to cover up launch issues."

reminds me of the monero launch issues and purposely confusing multiple threads started in the wrong place by a admitted scam dev pushing a crippled miner. a dev that is probably still involved but with a new anon nick like smooth or smothie or fluffy, who knows.