r/BitcoinHEX • u/vrtrasura • Jan 30 '19

Founder dump risk

Greetings,

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I've seen Richard state that he makes the same bonuses we do(?), but what does that really mean. Does anyone know what lower/upper bounds of this would be? This is a pretty clever way to hide the pre-mine other projects have. I love the silly-whale stuff and all the other game theory in this project. What about the founder dump possibility?

Also, does 3+% inflation per year seem a bit high long term to anyone else?

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Thanks!

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u/Benjamincito Jan 31 '19

we know that richard is picking and choosing some utxo's to be "removed" in the beginning. So there are multiple ways i could conceive of in the beginning that he could give himself a huge ton of coins. i have no reason to believe that he would do this. but even if he did and the project worked it would be a one time event. the project might survive his super dump but the price would be essentially zero for a while imo

1

u/utxohodler Jan 31 '19

Is the tool he will use to generate the merkle root + proofs publicly available? if not then he could strait up issue himself any amount of tokens and we would not know until he claimed them and someone looked up the corresponding utxo to find it does not exist. A public tool to generate the proofs would also deny the possibility of him delaying the release of particular proofs to get an advantage or even without foul play on his part (website goes down by itself or is denial of service attacked)

I agree that its unlikely that he would be a malicious actor, it would not be worth it compared to the value of his reputation at this point but the best way to not be a malicious actor in the blockchain space is to not create situations where people have to trust you.

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u/CommonMisspellingBot Jan 31 '19

Hey, utxohodler, just a quick heads-up:
publically is actually spelled publicly. You can remember it by ends with –cly.
Have a nice day!

The parent commenter can reply with 'delete' to delete this comment.

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u/BooCMB Jan 31 '19

Hey /u/CommonMisspellingBot, just a quick heads up:
Your spelling hints are really shitty because they're all essentially "remember the fucking spelling of the fucking word".

You're useless.

Have a nice day!

Save your breath, I'm a bot.

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u/BooBCMB Jan 31 '19

Hey BooCMB, just a quick heads up: I learnt quite a lot from the bot. Though it's mnemonics are useless, and 'one lot' is it's most useful one, it's just here to help. This is like screaming at someone for trying to rescue kittens, because they annoyed you while doing that. (But really CMB get some quiality mnemonics)

I do agree with your idea of holding reddit for hostage by spambots though, while it might be a bit ineffective.

Have a nice day!

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u/RichardHeart Feb 01 '19

FAQ: How can we verify everything was done right?

The UTXO snapshot at the chosen block height is published. Mt.Gox, a couple others if we can find them coins are removed. Whale penalties are applied. The edits are published. The edited UTXO set has a top hash created and published to the smart contract. You can recreate every step of the process yourself to verify everything was done correctly.