Cryptocurrency Q&A
Did Bitcoin have a premine?
Did Bitcoin have a premine?
IncheonBeautyBloomingRadiance
Thu Oct 31 2024
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5 answers
918
I'm curious about Bitcoin's initial distribution. Specifically, I want to know if there was a premine phase where a certain amount of Bitcoins were generated before it became publicly available.
5 answers
DavidLee
Sat Nov 02 2024
This practice involves allocating a portion of the total supply of coins to specific individuals or entities before the project becomes available to the general public.
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Lorenzo
Sat Nov 02 2024
Pre-mining allows these early recipients to have a stake in the project and can sometimes influence its development and direction.
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Leonardo
Sat Nov 02 2024
Conversely, Bitcoin operates on a different principle. Unlike coins that are pre-mined, Bitcoin's coins are distributed as they are mined through a decentralized process.
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JamesBrown
Sat Nov 02 2024
This ensures that no single entity controls a significant portion of the total supply at the outset, fostering a more equitable distribution among miners.
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Elena
Sat Nov 02 2024
The concept of "pre-mined" pertains to digital coins and tokens that are generated prior to the public launch of a cryptocurrency project.
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