Post
Topic
Board Altcoin Discussion
Re: rpietila Altcoin Observer
by
superresistant
on 04/07/2014, 13:45:38 UTC
Huge? It's only 10% of the total monetary supply - and it's already distributed through the market at prices of 0.0000x to 0.002 for months. But I don't expect you to know it because you weren't there watching it. I did though and therefore I'm better informed.

10% not huge for you ? It clearly huge when it's owned by one person and hidden to the market.

Compare that to PoW/PoS which have 100% of their monetary supply instamined in a week or so and no-one bitches about them "scam scam scam" or "problematic distribution". Nobody cares about "fairness" to future miners. If they did, they'd also say Bitcoin is a 1bn USD scam due to Satoshi mining >1mn coins on his own with a few desktops and laptops. And those who scream scam for DRK because it disadvantages future miners, are actively supporting PoW/PoS coins that give 0 chance of mining to future miners.

Your argument is invalid. In real PoW, there are miners, there is competition.
When you solo insta-mine, you take all the coins you insta-mined with zero-cost hardware and energy.

Besides, most of the accusations use a retroactive logic, in that the miners who mined at the launch somehow knew that the coin would be worth it 15-20$ each a few months later, when in reality miners were selling 100.000 DRK for 2 to 2.5 BTC to buyers. It was considered a very good profit back then.

You cannot have a free market with insta-mine.

You can make a coin, you can instamine it as much as you like, but it will still be a worthless coin if you do not assign value to it.

Yes, that's exactly why Darkcoin has no value.