We are just one vote ahead.

Wow that is generous!

Excellent news!

All it needs is one of the holders with like 200,000 Zim to sell 20,000 at 9k and drop almost 2 BTC on the voting.

Every single person in crypto is trying to make profit. With all the greed going around why would anyone hold if they can sell to cover some of their losses?

I cannot understand why the dev does not post anything while the price is tanking.

Voting for MP is one thing. What is urgently needed is communication from the dev. An active dev is crypto101 rule #1. Crypto investors are very sensitive creatures. A good news word from the dev can create wonders.

All we need is the dev to be more active with more updates on progress and so on.

The market is waiting for the dev to deliver an e-betting system. If the dev delivers the price will go up. If the dev does not deliver the price will go down. It is normal when a dev makes a promise there is hype and price goes up. The price will gradually go down between the dates of promise and delivery. The longer the timeframe, the lower the price will go. If and when the dev delivers price will turn around.

+1

Putting the premine in escrow is not a difficult thing and would be a good indicator if the dev is really open and honest with his intentions in the correct place.

It is still early in the POW with an early listing on an exchange. There will be downwards price pressure for the next few days where the large farms will be offloading their mined coins. There are still many coins to mine. I will wait for about 2.5-3.5k and then buy in. If it doesn't go that low then I will not buy in. With the large farms it is not worth it to mine. Whitecoin will always be the classic example of the effect of hash raping a coin and too early on an exchange.

Like the dev said:


Give concrete plans and put the premine in escrow and the price could go to 20k.

There is no reason for the price to go to 20k. It will be dumped down by the miners and that 3GHs farm that stuffs up the network all the time. Remember that the 1-2% pool fees also still have to be dumped. The coin is currently trading at the cost of mining. There will be a pump when mining ends, big dump and then fall back to around 6-7k or so. Then the bag holders that bought at 8-10k will nag the dev for features in the hope to take it up to 20k. By that time the big miners would have dumped and interest would have moved on to the next coin of the week. See the pattern in altcoins over the last few months.

This is my assumption unless there is proof from the dev that he has other plans and a network to support him to realise the plans.

Yes I understand how he is currently doing it. What I am saying is what happens if he transfers the premine out to an exchange and dumps. He could then also post here that he dumped, or not post. Apart from "reporting" here what it is used for there is actually no preventative control that would stop him from doing it. A preventative control would be for the escrow agent to refuse a total transfer out or to allow a transfer out for a bounty or whatever.

I say let the dev transfer the premine to an escrow account with Bittrex.

I have a question. It is said all over the thread that the dev is open and transparent with the premine address.  We can all see the coins in the premine account. What does this really mean? Does it not just mean that we will then also just clearly see if the premine goes to 0 and dev disappears? That is all that we will see with the current method of "openness". The correct way to be open with a premine is to store it in escrow with a trusted third party like Bittrex.

Am I right or am I making a mistake somewhere?

There is a lot of hate for what MIN tried to achieve regarding fair distribution. This is evident in the MIN hate talk on the Bittrex IRC channel. Some people will go to great extremes to protect their interests or to prove a point.

And dev has to hurry up to maintain momentum.

I am not saying what Minerals did is 100% the correct way, but the principle of what Minerals did is a step in the right direction.  Unfortunately the coin got hammered by the influential people, so it is facing an uphill battle but it would be interesting to see what happens with it even though the principle has been stepped on by the big players. it would also be interesting to see if VVV rises above the rest or will follow the same pattern. What I can see from the hash rates is that the building blocks are being laid for a typical altcoin pattern. i hope I am wrong because I too have a few coins from rain and the few my measly 20Mhs can bring me in. I would not want to see my 0.1 BTC go to hell after big dumps from the big guys.

Not if you artificially level the playing field with support from the influential people or in some other way. If launches remain free for all, the end result will always be the same with the hopeful bag holders wishing for a MP listing just to find an accelerated decrease in value because the coin has been raped and used by the big miners who has moved on to the next launch. This pattern is bad for the reputation of crypto and needs to be addressed in an acceptable way. Exactly how I don't know. The argument of everybody can rent large farms is the same as saying anyone can rent a private jet to have a nice holiday in the Bahamas. The thing is most miners are small miners with limited means and cannot afford to rent large farms and risk all that money.

What will happen if Golf did not have a handicap system? The same players would always win and the rest would become discouraged and new players will not enter the competitions because what is the use.  We need a handicap system for crypto launches.

Yes it is high risk high reward, but the end result will always be the same if initial distribution is not fair. The high risk takers will get the high reward, at the expense of the people that could not afford to take the high risks and the latter will sit with the bags when the coin dies. It is time that fair distribution methods are adopted in crypto in a form that is acceptable to all, otherwise newcomers and the general public will not want to participate in crypto anymore or get involved because they are too scared to be burned by the big players. In addition, if influential people support measures for fair distribution a coin will succeed. If influential people actively sabotage a coin and discredit fair distribution measures a coin will have an uphill battle, like the coin of a few days back you refer to if we are talking about the same coin.

The rain in IRC is great, but 100 coins will not make a difference, well perhaps it would if the coin price is 200k. I looked in the IRC earlier and felt disgusted by how the members are !balance all the time and cheering for a few coin scraps. What if those small timers could participate in a launch and actually earn 10k coins during mining with their limited resources instead of waiting for a 10 coin rain in an IRC channel. What is happening like exactly with this coin launch is bad for crypto reputation and protection of the majority.