This is one strange coin.
Funny thing is they removed the usual "moneysupply" output from the getinfo rpc command.
You have to use the gettxoutsetinfo
swiscoind gettxoutsetinfo
{
"height" : 162715,
"bestblock" : "f90e40f14b46aed666637f821a0ddffda3cd7d7b5f59ededa72160ba37892dda",
"transactions" : 71151,
"txouts" : 72656,
"bytes_serialized" : 4695675,
"hash_serialized" : "2bea2830791b0a56a0ea078f673901853f2d9cc31f64f471a7d4ff3dbe473741",
"total_amount" : 2462448592.00000000
}
Like stated here:
They premined almost half of 3.1bilion, which means 1.5bil? I dont understand what they were trying to say here exactly
How is the current supply 2462448592 (2,4 bilion), if they premined 3.1 but actually just half of that? I mean, what?
Also why is coinmarket cap not calculating this existing, spendable ready to be dumped 2 bilion into the price?
Market cap / Coin supply = Price
26,595 BTC / 474,508,849 = 0.00005604 BTC <--- Current stated price acording to coinmarket cap
26,595 BTC / 2,462,448,580 = 0.00001080 BTC <--- Real price considering the real available supply
Price should be 5 times lower.
Anyway, beware with this coin
Edit:
The block explorer is also shit, block #2, with the premined 2bil: https://scnblockchain.com/block/ae1ae408b74d6ce810c456a6a4c8c3061c93f26d78ac1e04cfad212848a07551
The coins were mined to: SYFiTiRRHw688wtom3GoczmLD5YpFw6g9K and this address is showing no transactions: https://scnblockchain.com/address/SYFiTiRRHw688wtom3GoczmLD5YpFw6g9K
They probably intentionally deleted these transactions from the blockexplorer database...and the same goes for all the addresse in the premine. They are all showing balance 0.
Funny thing is they removed the usual "moneysupply" output from the getinfo rpc command.
You have to use the gettxoutsetinfo
swiscoind gettxoutsetinfo
{
"height" : 162715,
"bestblock" : "f90e40f14b46aed666637f821a0ddffda3cd7d7b5f59ededa72160ba37892dda",
"transactions" : 71151,
"txouts" : 72656,
"bytes_serialized" : 4695675,
"hash_serialized" : "2bea2830791b0a56a0ea078f673901853f2d9cc31f64f471a7d4ff3dbe473741",
"total_amount" : 2462448592.00000000
}
Like stated here:
Premined Coins
Swiscoin has come with 3.1 billion coins technology, It premined almost half means 1.5 billion coins for the purpose of marketing after the target reached it will be flushed. Just the genesis block and the first 2 blocks to confirm the genesis is valid. We believe a coin needs to be released in a fair manner. Having one person (or a group) control a large amount of coins that can be used as they see fit is against the decentralized vision of Litecoin. Yes, it is true that without a stash of pre-mined coins, we will not be able to afford to pay for bounties, but we believe people will see the virtue of this coin, invest in it as early adopters, and will be willing to spend time creating services to make this coin better. We believe to create a value of the coin, and more demand will take it to the top.
Swiscoin has come with 3.1 billion coins technology, It premined almost half means 1.5 billion coins for the purpose of marketing after the target reached it will be flushed. Just the genesis block and the first 2 blocks to confirm the genesis is valid. We believe a coin needs to be released in a fair manner. Having one person (or a group) control a large amount of coins that can be used as they see fit is against the decentralized vision of Litecoin. Yes, it is true that without a stash of pre-mined coins, we will not be able to afford to pay for bounties, but we believe people will see the virtue of this coin, invest in it as early adopters, and will be willing to spend time creating services to make this coin better. We believe to create a value of the coin, and more demand will take it to the top.
They premined almost half of 3.1bilion, which means 1.5bil? I dont understand what they were trying to say here exactly
How is the current supply 2462448592 (2,4 bilion), if they premined 3.1 but actually just half of that? I mean, what?
Also why is coinmarket cap not calculating this existing, spendable ready to be dumped 2 bilion into the price?
Market cap / Coin supply = Price
26,595 BTC / 474,508,849 = 0.00005604 BTC <--- Current stated price acording to coinmarket cap
26,595 BTC / 2,462,448,580 = 0.00001080 BTC <--- Real price considering the real available supply
Price should be 5 times lower.
Anyway, beware with this coin
Edit:
The block explorer is also shit, block #2, with the premined 2bil: https://scnblockchain.com/block/ae1ae408b74d6ce810c456a6a4c8c3061c93f26d78ac1e04cfad212848a07551
The coins were mined to: SYFiTiRRHw688wtom3GoczmLD5YpFw6g9K and this address is showing no transactions: https://scnblockchain.com/address/SYFiTiRRHw688wtom3GoczmLD5YpFw6g9K
They probably intentionally deleted these transactions from the blockexplorer database...and the same goes for all the addresse in the premine. They are all showing balance 0.
If they premined billions then they changed block #2 reward output because it shows only 20350000 (20.35mil) . Like you said it shows to an address with 0 balance and 0 transactions. This database has def been altered. Some mega shady shit right there.
Sorry about that, I did not count the zeros correctly.
In the code, main.cpp:
int64 static GetBlockValue(int nHeight, int64 nFees)
{
int64 nSubsidy = 25 * COIN;
if(nHeight == 2 || nHeight == 20 || nHeight == 200 || nHeight == 2000)
{
nSubsidy = 20350000 * COIN;
}
else if(nHeight < 17000)
{
nSubsidy = 140000 * COIN;
}
else
{
nSubsidy = 12 * COIN;
}
// Subsidy is cut in half every 840000 blocks, which will occur approximately every 4 years
nSubsidy >>= (nHeight / 840000); // Swiscoin: 840k blocks in ~4 years
return nSubsidy + nFees;
}
So the 2 bilions is from 16996 blocks x 140000 SCN = 2379860000 SCN and block#2, #20, #200 and #2000 has the 20350000 SCN reward for some reason.
I mean, who would anyone do this, why have block #2, #20, #200 and #2000 make 20milions. Why not just make more blocks with the 140000 reward.
Maybe the preminers were playing lottery among themselves haha
This is a silly coin