I see, I understand. I think a fair premine would be enough to support the initial developments for this coin. I will be mining and buying as well so I really just think a premine to support initial developments is enough and nothing more. There is a fine line. I want to hold a decent amount of coins so I am even more motivated to get developments up quicker. But I also dont want people to feel it is unfair. I will look over the premine with bounties in consideration. I like your idea of providing bounties for development. I wll use a portion of the premine as a bounty for pools and explorers and of course other things as needed.

In regards to the premine dump concern, I am depressed with the current state of crypto. This is the main reason I developed this coin. We really need to get away from the scams because crypto seems its at rock bottom right now. Geocoin will be around for a long time. The projects we are working on are not quick or simple. Please dont expect a quick pump and dump and this coin is gone forever. This is my project, it is my baby. I plan to work on this project for the rest of my life really. Well there is no "end" in sight. I also have a team of 3 other highly skilled people. I believe crypto needs a few more years to become mainstream and I want this coin to be at the top of the race. I understand I am a stranger on the internet and there is no reason to believe me. The proof will come through our developments. If you are leery, don't invest until you see something that makes you invest.

Hi guys,

I'm not sure if I understand. What do you think is a fair premine? It can be changed before launch.

Thanks

Thanks for your support. I am aware of the geocaching technology CheckCoin is attempting to create. Geocaching is on our list of projects right now. We are trying to figure out how to best allocate our resources. At the moment we have too many ideas. GIS + crypto has a lot of potential.

We welcome any & all ideas related to geotechnolgies + crypto. Lets make something awesome.

Don't take my word for it, you can do a little research and see what it's all about.

Sorry for the lack of information. Official ANN coming soon with much more details. Thanks for the comment.

LOL man I hated ghost coin..

GIS (Geographic Information Systems) is a real thing. It is very powerful and useful.  I spent 6 years studying it in school and another 5 years in the industry. We plan to do some really cool stuff. Will get some more info out to the community soon.

GIS: Geographic Information Systems. There is a large industry for GIS, people get their degree in it ( like me )

Agreed, this is just PRE-ANN. I promise it will get more exciting. Geotechologies are exciting 

GeoCoin (GEO)
Bringing GIS technologies to the blockchain!

Release Date: Jan 16, 2015

Specs
-Algorithm: x11
-Premine: 0.5%
-Block time: 60 seconds
-Rewards
  1: 0.5% premine
  2-100: 0 (instamine protection)
  101-40000: 10 (~1 month)
  40001-80000: 8 (~1 month)
  80001-80000: 7 (~1 month)
  120001-160000: 6 (~1 month)
  160001-200000: 5 (~1 month)
  200001-240000: 4 (~1 month)
  240001-280000: 3 (~1 month)
  280001-320000: 2 (~1 month)
  320001-5000000: 1 (~9 years)


Just a PRE-ANN to get people talking and asking questions about this coin to see if they want to mine it fairly. And perhaps connect with some industry professionals that are interested in collaborating.

Thanks everyone