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“Premine”: previous to public mining, coins were distributed. Satoshi absolutely didn’t premine Bitcoin.

• FabHK 5y ago
  And yet, Satoshi has huge holdings just as if premined.
  • sparkie 5y ago
    That's because the other 7+ billion were not smart enough to compete with him for nearly a year, despite it being made public at the time Satoshi began mining. The "pre" in premine means "before," as in, they mine themselves the coins before they publicly release the knowledge required to begin mining. Satoshi didn't do this. There was no premining of bitcoin.
  • atweiden 5y ago
    Premine means coins were distributed prior to a public mining phase. If public mining was available, and no coins were distributed prior to that, the coin wasn’t premined. Despite the definition of “premine” being extremely clear cut and objective, apologists for premined coins often liberally redefine and butcher the definition for financially-motivated, self-serving reasons: “See, Bitcoin is premined too. XYZ did nothing wrong.” Just to understand how ridiculous this is, if we’re going to redefine premine to mean “any coin perceived to be unfairly distributed”, then we might as well not even use the word at all, because biased investors will use the term to describe every cryptocurrency they’re not invested in.