What is the deal with the premine? Not trying to FUD, just curious... I'm seeing tweets about it.
Some tool was screaming 40% premine in C-Cex trollbox.
He shutup & disappeared when I called him out on it.
https://bt.irlbtc.com/view/661885.msg8202281#msg8202281No problem guys and thanks, CannabisCoin released on 4/20/14 as SCRYPT Alg. It was mined about 21.8mil up until we decided to drop SCRYPT and go X11 Alg with KGW. We did a hard fork and premined 1st block on X11 to do the buyback program of mined coins from old to new X11 algo, This was all paid to the miners manually as agreed. Noone wanted to lose their coins.
Scrypt version STOPPED @ 52080
Total coins = 21873600 mined
approx. 21882000 - was paid out.
~DeltaNine
To sum up...
- Approx 21 million CannabisCoins were originally mined under Scrypt
- When CannabisCoin moved to X11, approx 21 million was 'premined' to use for the Scrypt to X11 BuyBack/Conversion at 1:1 rate.
- The 'premine' was not held by the devs, but distributed to all holders of the old Scrypt coins.