Moving to hive

https://steemit.com/steem/@cryptogee/introducing-steem-the-first-anarchy-mined-coin#@ned/re-cryptogee-introducing-steem-the-first-anarchy-mined-coin-20160812t194857723z

followbtcnews (67) · 7 years ago

"Pre-Mined" coins in the crypto niche are referenced to coins that usually developers mine on the FIRST block for themselves then release for others to mine after the first block or "genesis" block.. I know,I have been involved in many many coins that I have mined. So in this case this coin "Steem" was NOT "pre-mined"

Also below are more references from Ned and other's involved at launch

Also ,written by 'bytemaster" on BCT

"1. Steem is not a pre-mine because we did no mining before the code was public and anyone could participate

Steem is not an insta-mine because mining occurred at a fixed rate for a full month before VESTING kicked in, "

https://bitcointalk.org/index.php?topic=1466593.msg14812610#msg14812610

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gonzo (68) · 7 years ago

@ned gave an interview where he said he wanted to premine Steem, but it wasn't in his best interests so he settled for a Ninja-Mine.

I'm still not quite sure if that makes a difference to the average user, because by the way he described it, he made it sound like some sort of legal loophole.

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hassanabid (73) · 7 years ago

you won buddy you won :D all the commments :D

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adviser (58) · 7 years ago

thanks for your information.i follow you. i am waiting for your next post.

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zeartul (69) · 7 years ago

Love the response.

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hassanabid (73) · 7 years ago

pretty amazing you got 47 votes in 7 minutes :P damn ?

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badger311 (39) · 7 years ago

Aaaaannnnndddd.....here's 100 more.

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hassanabid (73) · 7 years ago

oh myyy he is so popular :D damn :D

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hassanabid (73) · 7 years ago

hahhahaha :D thanks badger :D <3

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hassanabid (73) · 7 years ago

ahhahhaaahhhaaha wow :D <3 @badger :D

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shla-rafia (68) · 7 years ago

You are really everywhere lately :D

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hassanabid (73) · 7 years ago

hehhehhehe :D :D

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j3dy (60) · 7 years ago

yeah I would flag that guy. just for what he's laughing so hard on here. but whatever bots upvoting you to give you some short rewards, the thing to live for :)

How have you been up to, I haven't been following the people around here for months.

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benjojo (70) · 7 years ago

Use of the word premine here is a result of the perception that the mining that occurred before Steemit launched was highly exclusive.

Has the mined stake from that period created any issues? Definitely.

What would you call the stake mined from the period that differentiates it from the mined stake after Steemit launched?

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j3dy (60) · 7 years ago

somebody said ninja-mine and that should sum up. I don't get the question :( technically there was no pre mine, it's like saying that bicoin was premined, it was just mined mostly inhouse. As far as I understand te documentation here was so crappy, people couldn't mine, but I'm getting my info from that blog post on bitcointalk. I myself wasn't around back then, but you can probably check back all the posts from the start of the chain.

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inertia (73) · 7 years ago

Looks like @l0ki / @elfspice has reading / comprehension problems.

Personally, I wouldn't bother debating it with him.

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3 votes

shla-rafia (68) · 7 years ago

I agree

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battleaxe (69) · 7 years ago

I don't like dealing with non peace...namaste, or is that the namaste? I dunno,just One Love <3

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inertia (73) · 7 years ago

400 - Bad Request / Unable to decode data

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reggaemuffin (66) · 7 years ago

Ohhh I love this response! Do you mind if I use it too?

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inertia (73) · 7 years ago

200 - OK

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reggaemuffin (66) · 7 years ago

202 - Accepted

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dwinblood (73) · 7 years ago

I think when they are using it they are referring to mining before steemit launched. At least that is what I assumed. What you say is true, so if they are saying it they must be interpreting it another way. So that is my best guess. I've never asked the people I heard it from what they meant. I realized they couldn't be talking about what you are talking about, so the next logical step is they are referring to mining before steemit.com launched.

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berniesanders (77) · 7 years ago

And what's wrong with that? Other than the people complaining not being aware and mining...

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dwinblood (73) · 7 years ago

Absolutely nothing. I am not one of those that said it is wrong. Right place, right time.

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emble (50) · 7 years ago

It IS wrong. See my comment below.

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emble (50) · 7 years ago

It's wrong because as soon as Steemit launched they killed the mining. That means that since Steemit launched there was no other way to make money on this system unless you buy from a "pre miner" or get upvoted by a "pre miner".
In other words - all money that is created - and will be created - everyday on steemit for author and curation rewards is only from these few miners. They created all money and it now duplicates according to their SP. They decided and will decide who gets rewarded. So there was no chance since Steemit got live, to make ANY money without support of these few people.

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dwinblood (73) · 7 years ago

Actually mining kept going for quite some time after steemit launch. Though it didn't really matter. Though we cannot fault someone from being in the right place at the right time. That is not their fault, so they actually did nothing wrong. It was a lack of thinking through the rammifications of dumping some super powerful people into a new ecosystem that was not truly worked out I think. Not surprising, this is the first of its kind.

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emble (50) · 7 years ago

They didn't do anything wrong, the system is wrong. I wrote a post about how to fix it: https://steemit.com/steemit/@emble/will-steem-succeed-or-commit-suicide
I do think that the value of steem wont pickup unless a major change is made.

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3 votes

dwinblood (73) · 7 years ago (edited)

Each curation member has his Curation Reputation Tag. The more upvotes the posts - he curated first or from the first - gets - plus his continuous curation - the more his reputation grows. A member with a higher reputation is like a lot voters with lower reputations.

This is actually a problem with the current curation system. People begin to dogpile popular people. It is part of why the curation system is broken now. People who pick the topics that will do well. Of course they will do well if the curators keep always picking the same people. It is a sure fire reward, but it is crap for the platform.

no curation bots should be allowed

No way to detect them so you can't really make them not allowed. All they are is code to act like people. So any detection attempts will also flag people and once learned can be circumvented. So you cannot eliminate bots. That is why they haven't been.

Downvoting should be made by at least 3 curators with a minimum curation reputation.

This can be easily gamed. By the method you have defined curation reputation can be easily farmed.

The current reputation system is the only thing that seems to have a limited effect against abusers. It is not perfect. Yet to gain reputation you can only gain in reputation when someone higher reputation than you up votes you. You can only lose reputation when someone higher reputation than you down votes you.

As you climb in reputation the advancement becomes slower and slower as there are fewer people above you to help you increase.

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emble (50) · 7 years ago

There should be something like a simple captcha to upvote, so that bots could not vote.
From what I understand, reputation is mostly affected by SP. People with high SP can ruin reputation of people with less SP. For example you with your 72 reputation can't downvote a post that has $100 to 0 because you don't have enough SP. Correct me if I'm wrong.

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dwinblood (73) · 7 years ago

Captcha would work if steem blockchain was centralized... it isn't. There are many different ways to access it beyond steemit, and growing. Most bots don't even actually go through steemit, though they can. Captchas work great on centralized systems where the only way to access them is through one web page. Yet centralization makes it vulnerable to take down.

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Show 2 more replies

dwinblood (73) · 7 years ago

For example you with your 72 reputation can't downvote a post that has $100 to 0 because you don't have enough SP. Correct me if I'm wrong.

Correct. At 100% my power is worth somewhere between $3 and $4 right now so that is the most I could reduce a post.

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Show 9 more replies

dwinblood (73) · 7 years ago

I'll read your post.

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emble (50) · 7 years ago

Thank you.

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valued-customer (67) · 7 years ago

I think that there are rules about how you can offer securities to the public, and that the mining of Steem at the outset, and then ending mining, is wrong, because it disadvantages folks after the cut off.

If the mined Steem had been relegated to the rewards pool then there would be no issue, as no individual person would have been able to enrich themselves from mining.

That clearly isn't the case, even though @dan said he intended to disburse his mining proceeds later. He has retained it.

Caveat: I am not a lawyer, have no legal opinions that any sane person would respect, and neither want any of this to happen.

I want Steemit to succeed grandly, and do to Fakebook what Fakebook did to Myspace.

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dwinblood (73) · 7 years ago

then ending mining, is wrong, because it disadvantages folks after the cut off.

Before it was cut off a few had determined pretty much how to corner it from what I was reading so there was not really much benefit for new miners. I could be completely wrong here, but I vaguely recall people talking about something like this.

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shla-rafia (68) · 7 years ago

really sad

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emble (50) · 7 years ago (edited)

People don't realize that, and just say that the minnows are jealous. Steemit is the most unfair system after (or maybe even before) communism. All money goes to these few on top or their friends. And they are also very generous to throw a bone from time to time to some of the 95% minnows.
Even curation rewards - that were meant to incentive the finders of good work - is a joke. These whales can be the last upvoters on a post after 5000 upvotes, and they will still get more then everyone without doing nothing.

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4 votes

shla-rafia (68) · 7 years ago

In bitshares I often read that we should make a mutual aid society where people help each other and Dan once sent me 25 dollar when I needed help. I think he created the system in the believe that other peopke would have the same morals but they dont. But i have a bit of depression and cannot think clear and also have to go and sleep outside again. cu and thanks.

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igster (63) · 7 years ago

@elfspice is attempting to reboot the system - interesting to see what happens. Will Steem finally be adopted by the majority of crypto users?

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emble (50) · 7 years ago

It will not be Steem, it has a different name.

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igster (63) · 7 years ago

oh yes, calibrae.

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l0k1 (69) · 7 years ago

This song is about you, and the pigs who think that what you mined before there was an exchange for it, should be worth the same as what we earn in our rewards.

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l0k1 (69) · 7 years ago

pick me! pick me!

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adviser (58) · 7 years ago

great dear. i also learn from by your post. thanks

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l0k1 (69) · 7 years ago

i just am BEGGING to get flagged. please flag me, cunt. are we good? can you stab my anus please?

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runaway-psyche (57) · 7 years ago

Let the comments begin... 🍿

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l0k1 (69) · 7 years ago

random flag target

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l0k1 (69) · 7 years ago

one more downvote, if you please.

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steeminator3000 (74) · 7 years ago (edited)

I would like to hear their opinion about how can a person premine some coin!

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dwinblood (73) · 7 years ago (edited)

Pretty sure the people that began the term were using that to mean Pre-steemit Mine, since logically it can't work the other way. So rather than belittling and name calling which in my opinion makes the name caller look worse than those targeted by the names try to think OKAY SO THAT MAKES NO SENSE, what would? At least that is what I did. The first time I heard premine I instantly knew what they were referring to. The "preminers" mined steem before steemit.com existed, as the blockchain was running for several months before steemit launched. Though this isn't completely accurate either as some people PURCHASED their steem before steemit. So are those prebuyers?

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berniesanders (77) · 7 years ago

It just makes you all sound so petty and ignorant... I still don't see how the launch of Steem vs Steemit has any relevance to the blockchain and mining. Obviously when we were mining we didn't even know Steem would be used for this "Steemit".

Maybe you should adjust your research so you actually understand the full picture rather than digging into a single corner so you can paint the picture you want to paint.

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4 votes

adviser (58) · 7 years ago

Maybe you should adjust your research so you actually understand the full picture rather than digging into a single corner so you can paint the picture you want to paint.

my opinion same to you. thanks for your valuable comment

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emble (50) · 7 years ago

my opinion same to you. thanks for your valuable comment

Don't fool yourself, you will not get a whale upvote for that :)

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justinashby (61) · 7 years ago

I am sending you some SBD because you tell the truth.

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valued-customer (67) · 7 years ago

Dood! At least send SBD to his @randowhale account, so you get an upvote out of it, LOL

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emble (50) · 7 years ago (edited)

Wow, you are a honest guy. And you sent even more to @elfspice who works for a steem fork, promised that he will not let @berniesanders in, and he is mentioned in the title of this post. :)

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justinashby (61) · 7 years ago

I have to help even though it may be unpopular, people helped me too.

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emble (50) · 7 years ago

@calibrae sent you a message see above.

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l0k1 (69) · 7 years ago

ok, this is getting boring now. I think you can smash this to minus 20! let's do it!

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atta09 (63) · 7 years ago

I am ressteme post you
Amazinggg

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lovelynoja (29) · 7 years ago

^_^

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l0k1 (69) · 7 years ago

i'm not sure if I have soaked up enough of your vote power yet. let me try again.

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andybets (62) · 7 years ago

Does the term premine have any import in law?

To me, the only significant question is whether or not the process to which 'premining' refers was legal in the jurisdiction in which it was carried out

If so, all good, except for jealousy and moral proselytizing. If not, it jeopardises the platforms future.

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berniesanders (77) · 7 years ago

Of course it was legal because it was mined upon launch.

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