LOL this thread is not about the early prices of darkcoin, let him make another thread about the early prices if he likes. It has no bearing on the instamine we are discussing.
The thread must not get derailed simple as that.
If you post again make sure you have something factual to add to the discussion or make your own thread.
The point he was making was, even if you felt the instamine was unfair, there still was a great opportunity to buy the coins at an insanely cheap price. So in reality, the instamine didn't hurt anyone's chances of getting the coin. To me, that is a valid point, and shouldn't have been deleted. It wasn't derailing the thread at all and was on-topic -- unless you just want threads agreeing with you all the time, that is.
You can say that instamines are unfair, I get that. I won't even disagree, if the dev goes crazy with it. But I think most people in the DRK thread already know about the instamine, so it's not like something new that has just been uncovered. Personally, a small amount of instamine doesn't even bother me, as unlike a lot of people here, I feel a dev should be rewarded for his work. Whether DRK's instamine qualifies as a 'small amount' is certainly up for debate though... I expect it's a bit more than 'small'. I certainly wouldn't call it a scam though.
The point here is the devs did go CRAZY with the instamine.... i'm talking CRAZY CRAZY can you not read these facts....
I'll break it down for you fellas.
Here are some facts.
1. The block reward was 500 every couple seconds at launch! Not 20 or 50 coins every 2.5 minutes as listed. There was also no windows wallet so only linux users could mine. This allowed about 1.7-2 million Darkcoins to be instamined in the first 24hours. Representing about 50% OF ALL DARKCOINS CURRENTLY IN EXISTENCE!!! All mined in the first 24hours by just a few wallets. Then the rules were changed increasing the block time to 2.5 minutes and eliminating the 500 block reward, (but only after the instaminers had claimed 2 million or so coins first.)
2. Today many of those day 1 instamined coins have already been sold and right now approx 24% of all Darkcoins are held in just 10 wallets. This could be 10 people or it could be simply Evan with 10 different wallets.
3. My opinion is that it is unfair and unfortunate that this occurred and IMO it represents a very real risk to Darkcoin in that there is an opening for a good dev to make an Identical X11 coin that has all the attributes of Darkcoin, plus a few more features, and have a truly fair and equitable launch. The instamining will continue to be brought up as it currently represents about a 10% premine given the Dev recently reduced the total coins that will ever be in existence to around 22million!