Re: Why the bitmonero/monero Ninjalaunched Cripplemined Fastmine matters
You can't fastmine almost 13 million coins in the first 2 years and not expect volatility and big bubbles to form. Monero is proving to be very volatile due to its mining emission curve and lack of masternodes.
Aha aha ahahahaha, are you high?A fast-/pre-/insta-/whatevermine looks like this:
10 - 15% of the total supply in the first 24 hours...
best regards,
Yes dash had what is commonly referred to as a accedental instamine as opposed to some coins that have a planned instamine where lots of coins are mined in a very short period of time. These are usually pos coins and they mine all the pow coins in a few days to a few weeks or more.
Monero is a good example of a fastmine but it could be considered a instamine too, which I don't think applies but who's to say.
2.25 years = insta?
lol please send me what you are smoking.
So 24-48 hours is instant?
I personally think instamined coins become fastmined after 2-3 weeks but I would not argue with someone who said the cut off was 3-4 weeks, especially if it was a pow to pos coin where all the pow coins were mined quickly and then they switched to pos.
When does a instamine end and a fastmine begin?
For all intents and purposes, a 24-48 hour mine is absolutely an instamine.
ok cool, what about 3-4 days where millions of coins are mined... all the pow coins actually and then they switch to pos? or how about 1 week with 4.5 million coins are mined or 2-3 weeks where 6 million plus (out of ~21 million) coins are mined and then they switch to pos. are those instamines? most people would agree those are what is traditionally considered a instamine. i would probably classify those as "POS instamines" because there are so many and they deserve their own category.
do you disagree xmr monero was/is fastmined? what would you call it because that's the only thing i have heard it called besides a instamine (by a small number of people) but i don't think it fits a traditional instamine. the only reason they would call it that is because of its highly inflationary emission curve combined with the crippled miner launch issue. that and the scam dev that was supposedly kicked out but could have just used a new/different username like smoothy or fluffyponzi or something like that. monero had ~750,000 coins mined the first 4 weeks (btc ~210,000) which is way faster than normal but i would not say instamined per se. but when does a instamine end and a fastmine begin?
i think a cripplemined fastmine best describes monero.