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?
I think it was posted earlier here:
https://cryptocointalk.com/topic/10780-ann-shibe-shibecoin-powpos-scrypt/ i think its like 10 min earlier posted there ? Thanks for looking into it. I hope there is no hidden "treasure" in the code aka asiacoin style. Anyone can confirm code is clear ?
Thanks for pointing that out. Still, the first 45 blocks are before the cryptocointalk announcement which would make it a minimum of 1.9% premine (17 BTC at 300 satoshi), not the 0.5% premine announced.