What is post-mining? 🚀

Post-mining is a practice where developers create new currencies after a cryptocurrency is launched but before it is publicly mined. This allows the team to produce new currencies without outside competition.

Sometimes this happens between snapshot dates (such as when token balances are calculated so that newly created currencies can be dropped or exchanged on an exchange) but before the code is made public for outsiders to mine new currencies.

Bitcoin Gold (BTG) conducted what many consider to be post-mining. The team behind the project produced 100,000 BTG between the snapshot date and the start date of public mining.

The founding team reserved 5,000 BTG for each of Bitcoin Gold's six core members. The rest was used to grow the ecosystem of the newly created currency. But some people believe that 100,000 BTG is a lot of money to use for this purpose.

Coinbase did not support the launch of BTG, saying that the currency's developers had not yet made the code public for public review. The exchange considered this a "significant security risk" - and the negative sentiment towards BTG spread throughout the community.

BTG subsequently suffered a 51% attack, and although the team responded and implemented an update to the mining algorithm, the damage had already been done.

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