\[ANN\] FLUX Experiment using BATCOIN (no storage, just a way to see it in action)
-
[quote name=“Calem” post=“51368” timestamp=“1389434716”]
What is this Batcoin?
[/quote]A 2% premine coin with insane block rewards.
If you think 2% “isn’t that much” think again.
That’s 2% of 91,000,000,000 = 1,820,000,000 coins. 90 seconds block time, 60,000 BAT’s per block, ignoring special blocks, 3x and 2x rewards for the first 400 and 1300 blocks, that’s 57,600,000 BATs a day, 1,728,000,000 a month. That’s an entire months worth of ALL the mining. At the end of the first month, they will still possess over 50% of the entire currency supply.
That’s why premines ruin coins. No one entity should ever own more than 50% of a currency.
-
Oh but they say it’s “2% per mine” surely thats completely different…
[quote]
[size=4pt]Scrypt-based
Difficulty retarget time is 1 hour
90 seconds block time
60,000 BAT’s per block
6 confirmations for transaction
70 confirmations for mined blocks
Total of 91,000,000,000 BAT’s ( which is the estimated Bruce Wayne’s fortune as of 2013,God, thats one rich ass BAT)
6 Guano blocks a day will deliver X4 more coins, and a super Guano block X10 coins every 4 days.
Special reward on block 1337 as a tribute to my l33t hacker nemesis - The Calculator
Guano is Bat Shit[/size]
[b]2% permine[/b][/quote]/sarc off
::)
-
Rep ++
I haven’t any Batcoins, could we use some coins that could be given out, i.e testnet?
That’s just selfish, cause I want in, I extremely impressed so far.
-
[quote name=“Kevlar” post=“51370” timestamp=“1389436514”]
That’s why premines ruin coins. No one entity should ever own more than 50% of a currency.
[/quote]Or 2 people 35%, or 3 people 25 %, etc
-
[quote name=“wrapper0feather” post=“51379” timestamp=“1389439900”]
Or 2 people 35%, or 3 people 25 %, etc
[/quote]Now we’re getting off into Quarkcoin territory. =/
-
[quote name=“Kevlar” post=“51370” timestamp=“1389436514”]
[quote author=Calem link=topic=6793.msg51368#msg51368 date=1389434716]
What is this Batcoin?
[/quote]
That’s why premines ruin coins. No one entity should ever own more than 50% of a currency.
[/quote]Premines are bad if people hold onto them. What I’m hearing from the forum is people are getting sudden 6 figure surprises in their accounts.
Don’t forget: The bigger the reward, the less the coin is likely to be worth. So it evens out.I agree, tho. If they simply held onto the premine it would be a control issue. Same goes with intentional and unintentional instamine.
But the diff dropped now to a fraction of its max. So I am post-premine mass-instamining, or something.
-
Looks like shREDDIT removed the post. :(
-
[quote name=“corather” post=“51447” timestamp=“1389456046”]
Looks like shREDDIT removed the post. :(
[/quote]Batsignal is a subreddit. Not a post.
It’s still there.
It’s still up on bitcointalk as well.
-
You’ve not tied it (good/bad) to the upvote system, right? Apparently reddit gets overly jumpy when a bot is tied to it in some way, even if it’s not contributing upvotes and downvotes.
-
[quote name=“HopeStillFlies” post=“51460” timestamp=“1389459805”]
You’ve not tied it (good/bad) to the upvote system, right? Apparently reddit gets overly jumpy when a bot is tied to it in some way, even if it’s not contributing upvotes and downvotes.
[/quote]Nope. Bypassing the vote system and using the commenter tips instead.
FIRST EXAMPLE BOT INTERACTION: [url=http://www.reddit.com/r/batsignal/comments/1uz1ln/there_will_be_bot/]http://www.reddit.com/r/batsignal/comments/1uz1ln/there_will_be_bot/[/url]
-
What ever became of this?
