instamine

English

Etymology

From insta- +‎ mine.

Noun

instamine (plural instamines)

1. An event where a cryptocurrency is released but most of the currency is quickly mined by a only few miners.
   • 2014 June 13, Black Market Cryptocurrencies‎^[1], page 49:

     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

instamine (third-person singular simple present instamines, present participle instamining, simple past and past participle instamined)

1. (transitive) To mine a cryptocurrency in this manner.
   • 2014 June 13, Black Market Cryptocurrencies‎^[2], pages 49-50:

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

   • 2019 September 23, Prasanna Peshkar, “Instamine vs Premine”, in Cryptoticker‎^[3]:

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

2. (transitive) To mine a material instantly.
   • 2022 August 24, Yazinator, Hypixel Forums‎^[4]:

     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: […]

Synonyms

• fastmine