How can somebody steal the Genesis block?

3

So I read on bitcointalk the other day that there was a new coin about to be released (woo hoo right?!) and then they posted that somebody had stolen the genesis block.

What exactly does that mean?

How does somebody steal a block and what does that mean to the other blocks/block chain or miners?

user12920

Posted 2014-02-11T19:37:51.947

Reputation: 199

I think what they meant is that someone mined the genesis block for a new cryptocurrency, not stole it. – Luca Matteis – 2014-02-11T19:53:05.283

2If you're referring to an online discussion, please include a link to the original, rather than paraphrasing. There isn't enough information in your question to determine what happened. – Greg Hewgill – 2014-02-11T20:24:30.110

Answers

3

I assume this is referring to the duckduckcoin launch fiasco.

For pre-mined coins based on the Bitcoin software, the pre-mined coins typically just go to whoever mines the first few blocks. The idea is that you don't open the software up until those blocks are mined. But if you do, and someone else mines those blocks, they get the pre-mine. To protect against this, you must release the software with a checkpoint after the pre-mine. Apparently, somebody forgot to add that checkpoint.

David Schwartz

Posted 2014-02-11T19:37:51.947

Reputation: 48 957

But isn't pre-mining generally regarded as bad? Maybe that's why they didn't pre-mine? – Pacerier – 2014-05-25T05:46:42.357