RE: Why I'm Giving The Koinos Mining A Miss

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Lol, such a killjoy šŸ˜œ

I'm just doing it as it sounds fun and, although I had a few teething problems as well, I have got it running fully to just click the thing on and away I go. I already have my ETH in the miner so might as well use it. I'm just going to HODL but the miners will get an air drop of what they mined when it comes to KOINOS chain launching and it won't be an erc20 token after mining I don't think... šŸ¤”

hive-167922
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Ah I see, so this is just like a IOU on ETH and you get a 1-1 on their chain, hmmm, yes I am a killjoy. I was reading about the whole proofs thing and how you have to keep submitting and I was just like meh! Just let me collect my coins in peace and give the other side of the koinos, people deserve to know why I am left out in the cold

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Yeah, check out what happens after mining:

https://github.com/open-orchard/koinos-gui-miner#koinos-airdrop

After the mining period, what next? Koinos is a new blockchain and KOIN currently exists as an ERC-20 on Ethereum. Prior to launching Koinos, we will announce a snapshot time. The ERC-20 contract we are using supports creating a snapshot of all KOIN balances. To redeem your KOIN on Koinos, you will need to sign a transaction on Koinos using the Ethereum private key associated with the address holding the KOIN. We will provide simple tooling to generate and submit this transaction, but bear the requirements in mind when deciding which address(es) to hold your KOIN prior to the snapshot date.

So looks like you get the airdrop based on what you mine but people will probably still sell their mined tokens in any case, which will be available somewhere on an exchange. There's no ICO as far as I can read on that page or any pre-sale so the tokens are just mined in this 6 months.

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Well I do have a small number of tokens since I had to get rid of the ETH I added to the miner and that's alright with me.

Posted Using LeoFinance Beta

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Noice, might as well use the ETH if it's in there, I don't know if you can get it out again (although if you have the seed phrase, you might be able to access it on MEW? Not sure)

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