So after starting a thread looking at the merits of x11 over existing algos and not getting even 1 ....yes not even 1 clearly verified advantage the thread seemed to become infested with dark coin destroyers.
Still going on about this? I'll give you one reason, which is what the dev has explicitly stated. The new algo was created to allow a decentralized distribution in the same manner as bitcoin, i.e cpu miners first, followed by GPU, and then eventually ASIC. If the dev had just used SHA256 from the start, only ASIC miners would be able to mine the coin. A new algo was required.
sure, thanks for the information....however
please put this in the x11 thread. This thread is not examining x11, this thread is examining the 2 points in the OP.
Come on stick to the topic, if you want to discuss x11 again go to the x11 thread.
anonuser777 insists about taking about x11 and asics to derail this thread.... this is investigating the instamine scam of darkcoin not the seperate investigation of whether x11 is pure marketing bullshit with no real world advantages over previous chained algos.
thanks for trying to be helpful but post that stuff in the x11 thread.
Ok, fine, I'll try to keep within the extremely narrow bounds of your thread, despite the false info in your OP.
If this is a scam, would you care to put some numbers on the amount of instamined blocks? What percentage of the total number of coins in existence are we looking at? Has the dev effectively instamined 1% of all coins or 0.001%? If it's not much then it's not really worth arguing about. Why not also go the the BTC forum and complain about Satoshi's instamining? Most people agree that Satoshi deserves some financial reward for his efforts, so why not eduffield too. Without knowing how much the dev allegedly instamined we have no way of evaluating if this is a fair reward or not.
Let's not derail it into BTC thread. If you want to derail it to being about btc create your own thread. Now to the point of the % of instamine. This is of course VERY important. I will not mention a number that i suspect since i am the OP and will be called bias. I invite others to examine the block explorer and speculate with evidence how great you feel the devs instamine was. There is no doubt that he instamined but how much?? I have seen figures of 1%-14% mentioned but everyone one should examine the time stamp of release and compare to the block explorer. How soon after the actual release was someone on the chain and how much was mined before a windows QT was released. Bare in mind up until that oint a VERY high % of the board were excluded.
So let's have some answers here what is the min he could have instamined and the max he could have instamined. OF course a non scam coin would not give any opportunity for instamine by its own dev, simply for this very reason. It is sneaky and hard to tell how much they grab. Why not do a fair premine of 1% and be honest with a public wallet etc....
Instamine by the dev on any coin is double damage to miners for the reasons i have already mentioned. That's a normal instamine like not giving password protected zips so everyone has to spend at least 5 mins downloading virus scanning con,f sync, bat, run.... so a in 5 mins a dev can mine up 100's and 100's and 100's of blocks....then sure they can mine still whilst people gradually come on to the chain and they can continue to mine.
That's a normal instamine.... where the full board can reach the chain in 5 mins.
Now imagine and instamine where windows qt people are not allowed to mine for ..... well how long was it ?
The instamine max could have been gigantic.
Yes the dev should have some coins, but how much should they have and how should they take them? Not like this that is for sure that is a drk tactic. If you are going to instamine why not premine so everyone can see how much is taken?
Why don't people look into this themselves by looking at the block explorer... how long after announce does the chain get hit..... how much does that person take... hell what % does the first few people take... i mean with no windows QT they were killing that chain. The wallet distribution today means nothing, anyone can move coins around. Study the block explorer from launch.