instamine

plural instamines

1. An event where a cryptocurrency is released but most of the currency is quickly mined by a only few miners.

   1 more example

   An instamine can act the same way as a premine, where the developers get the majority of the initial coins, if the developers operate a large percentage of the mining horsepower during the instamine. […] The argument for premines and instamines is that they rightfully reward the people who were instrumental in the early success of the currency.

   2014 June 13, Black Market Cryptocurrencies, page 49

present singular third person instamines · participle present instamining · participle past instamined · past instamined

1. transitiveTo mine a cryptocurrency in this manner.

   Put easily, instamining is a method that enables coins to be issued unfairly or unevenly.

   2019 September 23, Prasanna Peshkar, “Instamine vs Premine”, in Cryptoticker, archived from the original on 09 Nov 2024

   1 more example

   Instamined and fastmined coins can encourage the few initial miners with a large amount of coins to dump their coins when the price rises.

   2014 June 13, Black Market Cryptocurrencies, pages 49-50

2. transitiveTo mine a material instantly.

   I was curious what it would take, so doing some calculations based on instamining hardstone, and comparing hardness, I've determined you need 45k mining speed to instamine mithril. 11.25k with mining speed boost. Is this achievable? Well, looking at the ways of increasing speed on the wiki: […]

   2022 August 24, Yazinator, Hypixel Forums, archived from the original on 09 Nov 2024