700 Million coin premine ...
anyone going to explain this ...
I've yet to see anyone really talk about this, other then asking.
I'd be interested to hear how many of the 700 are left.
I would also like to raise a rather important point about the premine; it can generate PoS too. Anyone want to do the math on how much PoS the remainder of the premine will generate?
I think somewhere in this thread someone had a link to the what they thought was the balance...as I recall all 700 million were all still unmoved, (but that was a while ago). Looking at the math, 700 million is 1% of the total, but let's just assume they do not move the coins at all for 40 years or whatever and apply all of them to PoS minting, then it would come out to about ~3.5%-5% of the total money supply. But Since the coins are slated to be used for various purposes i.e. "bounties, giveaways, development, support and maintenance, new feature developments etc." it probably will be less than 5% for sure. I'm not too worried, the development seems very active and engaged and a lot of works are in place to foster merchant acceptance etc. Keep an eye on this coin.
Several people including me already got rewarded for supporting the coin in different ways. I got a nice chunk of MINT for running a node to support the network when we had all the sync issues few days ago.
There are also giveaways on the mintcoin forums. The devs are very active in the background and put a big amount of work into this project.
So stop whining about the premine and start supporting the coin and maybe get rewarded also. There is still much stuff to do.
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Great to see so much interest in that coin. Still very early days, guess it will take a few weeks / months to see some more stable prices. Go Go MINT!
