Quote from: notsoshifty on May 05, 2014, 03:21:22 PM

Quote from: loq on May 04, 2014, 07:03:00 PM

THE SHIBE COIN

The announcement was made at 19:03:00 UTC (UNIX time 1399230180).

The first 12 blocks totalled 1.5 million coins, which is 0.5% of the total 300 million coins, so that is the advertised premine.

But actually, the first 56 blocks have timestamps earlier than the announcement time (example: block 56 has timestamp 1399230110, i.e. more than one minute before announcement).

And if you assume it takes people a minute or two to download wallets, setup miners, get synced up etc, that is approximately 60 blocks pre-mined.

As the first 50 blocks have extra high rewards, the premine calculations would be:

- 56 blocks is 6.85 million, i.e. 2.3% premine
- 60 blocks is 7.25 million, i.e. 2.4% premine

Before I use bold red letters and the 'S' word, can someone please check I'm not missing something stupid?

You are correct. Just gotta deal with it man. People dont work for free.

Why dont you go create a coin with no premine and then devote your time and effort for free after youve given the community something it wants.