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Title: PRE MINING Post by: captain-007 on January 14, 2014, 12:25:51 PM :o or >:( or :D
I am new to crypto currencies so my opinion is just a biased one. I see a lot of people moan about pre mining. Some coins are never going to make it long term so why fret over it. The ones which have which have a chance of last unless people keep hounding them for pre mining. SO its good for advertising as they can be given away free at FREE sites for promotion. They can be used as incentives to get the word out there and for merchants to accept the currency, and be used as a way to get good programmers, marketers, designers, etc on board. If the total number of coins is a huge number then a few to get it off the ground I don't see a problem. In the real world u gain for a good idea why is it frowned upon online Title: Re: PRE MINING Post by: yatsey87 on January 14, 2014, 12:30:07 PM :o or >:( or :D I am new to crypto currencies so my opinion is just a biased one. I see a lot of people moan about pre mining. Some coins are never going to make it long term so why fret over it. The ones which have which have a chance of last unless people keep hounding them for pre mining. SO its good for advertising as they can be given away free at FREE sites for promotion. They can be used as incentives to get the word out there and for merchants to accept the currency, and be used as a way to get good programmers, marketers, designers, etc on board. If the total number of coins is a huge number then a few to get it off the ground I don't see a problem. In the real world u gain for a good idea why is it frowned upon online They can be launched and mined normally then the devs can give away their own mined coins for promotion. Title: Re: PRE MINING Post by: guybrushthreepwood on January 14, 2014, 12:31:12 PM :o or >:( or :D I am new to crypto currencies so my opinion is just a biased one. I see a lot of people moan about pre mining. Some coins are never going to make it long term so why fret over it. The ones which have which have a chance of last unless people keep hounding them for pre mining. SO its good for advertising as they can be given away free at FREE sites for promotion. They can be used as incentives to get the word out there and for merchants to accept the currency, and be used as a way to get good programmers, marketers, designers, etc on board. If the total number of coins is a huge number then a few to get it off the ground I don't see a problem. In the real world u gain for a good idea why is it frowned upon online They can be launched and mined normally then the devs can give away their own mined coins for promotion. I agree. Pre-mining is like stealing from the community or give your self a head start in a race. Unfair and wrong. Title: Re: PRE MINING Post by: petercoffin on January 14, 2014, 12:38:27 PM Well... Honestly, I don't personally have a problem with the CONCEPT of pre-mining. If people want to make some cash, that's cool. In fact, it's kind of the point in a lot of cases.
But that doesn't mean it's fair. On that front, I do have a problem with it. For a coin to be a success and remain legit, everyone has to be in on it. People launching coins without taking fairness into account are self-sabotaging. Want to make money off your coin? Launch it for real. 1. No pre-mine 2. Make the first few blocks rewardless to adjust the difficulty 3. Set up an official pool with a 2% fee (that is fair). I don't see how you could mess up a launch if you do those things. You ensure fairness, don't steal any of your coin, and anyone is welcome to not use your pool. Choice = fair. At least with altcoins. Though new altcoins are going to start to need an actual unique purpose tied to them. Just being a coin is no longer enough. Title: Re: PRE MINING Post by: guybrushthreepwood on January 14, 2014, 12:41:07 PM Though new altcoins are going to start to need an actual unique purpose tied to them. Just being a coin is no longer enough. Yes, without a purpose or unique angle why bother with it. The market will become so saturated people wont bother with half of these coins so they need a unique selling point or something original. Title: Re: PRE MINING Post by: captain-007 on January 14, 2014, 12:47:05 PM Agreed some of these coins are going know where, But with all this complication of coins someone uneducated about cryptocurencies most probably will be very uninterested with virtual currency and then in long term this will ruin the value and need for all coins.
Title: Re: PRE MINING Post by: guybrushthreepwood on January 14, 2014, 12:51:39 PM Agreed some of these coins are going know where, But with all this complication of coins someone uneducated about cryptocurencies most probably will be very uninterested with virtual currency and then in long term this will ruin the value and need for all coins. It's the uneducated who propagate these coins and scams. They think they might get rich quick but often end up with nothing. |