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Title: Why is no Premine so important to the value of altcoins? Post by: Steven-o on December 04, 2017, 12:31:00 AM It seems like it shouldn't matter if the altcoin is premined or not.
are there successful examples of an altcoin that's been premined? Title: Re: Why is no Premine so important to the value of altcoins? Post by: Bibimboop on December 04, 2017, 12:32:48 AM I think it depends on what the plan for the premine is. So without context I think it's unfair to say that a premine hurts the value of a coin
Title: Re: Why is no Premine so important to the value of altcoins? Post by: Ch1bi on December 04, 2017, 12:45:19 AM It seems like it shouldn't matter if the altcoin is premined or not. It depends on what the premine is for. Sometimes developers use a premine for bounties and other events to promote the coin. However some may just premine to keep a lot of coins to themselves. This could be bad for several reasons. For example, what if the developer premined a lot of the coin and dropped all their coins at once? That would really hurt the price of the coin. Title: Re: Why is no Premine so important to the value of altcoins? Post by: cryptohunter on December 04, 2017, 12:57:39 AM Well this is of course very important
How can you start a trustless decentralised currency if most of the minting or a huge % is in the hands of one person with no ledger. They can control and collude to control the entire market. Please do a lot more homework before investing in anything. If there is a full transparent ledger this is something different but again it is hard to validate the spending is not to themselves or pals. The initial distribution is the most important part for ensuring no scam. Title: Re: Why is no Premine so important to the value of altcoins? Post by: bribed on December 04, 2017, 02:15:10 AM I think it depends on what the plan for the premine is. So without context I think it's unfair to say that a premine hurts the value of a coin I agree with that comment. In some cases a premine does make sense, whereas it can hurt a coin (or the trust in it) in other cases. For example, if a dev premines, lets say 20% of the total supply for himself before he announces the blockchain, it can be a huge trustissue and the possibility that this dev just dumping constantly on the market. Title: Re: Why is no Premine so important to the value of altcoins? Post by: ceyceyki on December 04, 2017, 02:37:31 AM Premine is important for them because they hold their coin and they do not want to sell. But even if they are scam they are selling when their coin is in exchange market.
Title: Re: Why is no Premine so important to the value of altcoins? Post by: bathrobehero on December 04, 2017, 11:42:35 AM Well this is of course very important How can you start a trustless decentralised currency if most of the minting or a huge % is in the hands of one person with no ledger. They can control and collude to control the entire market. Please do a lot more homework before investing in anything. If there is a full transparent ledger this is something different but again it is hard to validate the spending is not to themselves or pals. The initial distribution is the most important part for ensuring no scam. Cryptohunter nailed it, Bitcoin is trustless, decentralized and premined coins are not. They're taking steps backwards instead of forward. Title: Re: Why is no Premine so important to the value of altcoins? Post by: burnedbyfees on December 04, 2017, 11:52:00 AM Because many new coins are a scam and the devs often can't develop much at all. They simply bring out a shitcoin, build hype, disappear and dump, rinse and repeat with new social media names. If there's no premine it's less likely, though sometimes they lie about having no premine (Xios did).
Be wary of any dev who's a newbie on here and who doesn't demonstrate skill early on in the coins life. This is a good opportunity for me to shill you on Phore, a new coin with a team that actually know how to fucking code and have demonstrated it, somewhat of a rarity these days. |