instamine

Etymology

From insta- + mine.

instamine means an event where a cryptocurrency is released but most of the currency is quickly mined by a only few miners. Lexicurio rates it Sui generis — a strength score of 100 out of 100.

noun

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

verb

To mine a cryptocurrency in this manner.“Instamined and fastmined coins can encourage the few initial miners with a large amount of coins to dump their coins when the price rises.”
To 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: […]”