Quote from: AlexGR on June 06, 2014, 02:44:42 AM

Quote from: jly77 on June 06, 2014, 02:40:26 AM

It doesn't explain why 50% of the coins are not held by Dev.

It doesn't explain why 250% of the coins are not held by Dev either Tongue

Premine = the dev creates a coin where a number of coins (from 0.0001% to 100% of the coins) goes straight to a certain address and is then used/distributed etc.

Instamine = fast mining (where many are mining). Example = PoW/PoS coins which the entire monetary based is instamined within a week. Now, just because something is mined fast doesn't mean the dev has 100% hashpower. Go to the Darkcoin thread and look at the miners and their WTS 10.000 DRK for 0.25 BTC.

First 15 hours, 1.75 million dark coin were mined.

Darkcoin is currently at 80,000 blocks, but theres only 4.3m DRK out there. Five months later, the 1.75m generated during those first 4200 blocks still represents 40% of all DRK in existence.

Huh

Huge instamine and subsidy reduction

Since Im writing about it, it should come as no surprise that this coin has an instamine associated with it. This one went unnoticed for quite some time, but by taking a quick look at blockchain data we can see what went on. During the first 15 hours, between block 1 http://chainz.cryptoid.info/drk/block.dws?000007d91d1254d60e2dd1ae580383070a4ddffa4c64c2eeb4a2f9ecc0414343.htm and block 4000 http://chainz.cryptoid.info/drk/block.dws?00000000fc0ee07e47609bae8d5fe5d774193c71d518c56dfe8faaf7d780a03f.htm , approximately 1.75m darkcoins were generated.

Immediately after this period, Duffield claimed that there was a bug in the block reward calculations, and issued a hardfork to address it. After this fork, the block reward quickly dwindled down to an insignificant amount. Right now, it sits at a pitiful 5 DRK. A farcry from the 500 that it used to be.

The result? Darkcoin is currently at 80,000 blocks, but theres only 4.3m DRK out there. Five months later, the 1.75m generated during those first 4200 blocks still represents 40% of all DRK in existence.