Yes. What you're outlining, as I understood it, is inherently centralised. This is the exact situation that Bitcoin sidesteps, because selfish self-interest is what makes fiat currencies flawed (the bank will close its doors in a "run on the bank" scenario, a government might experiment with money creation causing spiralling inflation, etc etc). All of these problems exist because control of the wealth is in the wrong place - it's with some central authority, rather than in the hands of the people whose wealth it represents and to whom it rightfully belongs. Bitcoin does away with this. Ostensibly, there's no trust required anywhere in the system. Miners can be as selfish as they like, they will still only get their share according to hashrate. A man with a wallet can announce to the world that he's a bank and that people should keep their bitcoins with him, but any straight-thinking individual will reject this offer because they know that, with their own wallet, they are the bank. Nobody need trust anybody else for the network to function.

The reason Pandacoin failed is because it inherited all the flaws of a centralised system with none of the checks and balances. It would've been lunacy to just hand over the premine to anyone, let alone Wolong. The potential for abuse was glaringly obvious. It may be that you can mitigate the possibility of abuse by building functionality into the system itself (zero-trust contracts etc), and if that works and is trust-free and secure, that's fine - but placing a trust-based infrastructure literally on top of a cryptocurrency is an approach that is inherently ripe for abuse. Pandacoin is an excellent example of what happens if you don't take heed of the vulnerability of the situation.

Apologies if I'm preaching to the choir here, I know many of you are more than aware of this stuff, it's just that so many people don't seem to have seen the massive red flag that was present in the OP, and it makes me wonder why.

I agree with you, but who do you think bought this coin? Outside of the usual greedy miners, it was all noobs. Everyone else was screaming scam at them. I know they were stupid and I was laughing at them too, but I have come to feel sorry for them at this point.

But, you are right in that this coin could be zero and fast and newbies should think twice about sinking anymore money into this dog.

Oh yes, you're correct I did not read it carefully enough.

Still, as I have said in earlier posts, this coin is almost certainly doomed. But a transfer to another team would at least give the poor newbies in this coin some hope. And may be its only chance. (of course, it goes without saying that major manipulation can occur with these things if the whales want to regardless of any "fundamentals".)

But again, you are right that there is very little hope for a success here as the taint on this "team" is just so large.

I'm not want to post on message boards, however I feel compelled state my opinion on what I see going on here.   Most people are are going to hate what I have to say, but F them they are the sheeple that are bitching about getting scammed.

So here we go....

If you are "investing" cash you can't afford to lose in an alt-crypto currencies, you are a moron.  If you don't realize that the whole crypto currency is the new "Wild West" (USA slang reference) you are also a moron.  I have no problem when stupid people do stupid things and get crushed, learn from your mistakes.  I've traded futures and commodities for 16 years professionally as an exchange member, I learned what to do by learning what not to do.  The pain of losing money is a great teacher.  However, most people are to weak to learn from the pain and just quit. If you want to ever really make money trading anything, you need to realize losses are inevitable, and you need to take your losses when you plan isn't playing out.

I wasn't going to mine this coin because it premise was retarded, "backed by Wolong" Who the fuck is Wolong?  I looked him up and he is some "Asian Crypto Currency Sage"(sarcasm inserted).   Ok, after finding that out I thought... I want to mine this knowing this is going to be a pump and dump, especially after with all the hype that was coming around the launch date.  I was only made aware of this coin cause I was mining VRT, and another VRT miner told me about it.  So Mined the coin from the get go and 24hrs after.  I mined around 37million coins and sold up from 45 all the way to 98, my volume weighted average sell was 72.  This was my plan, be out within 2 days, max. Sooner if the market takes me out at prices.  

What I see on these boards are a lot of people who want to be "crypto currency traders" and a lot of people looking to get rich quick, but don't have a clue what they are doing or how markets work.  It's like the poker saying,  "If you sit down at the table and can't spot who the sucker is, it's you".  So to all the suckers you bought my coins from me, thank you and please learn from your mistakes and review your logic for buying this coin at the prices you did.  Don't ever put your money at risk because someone else gives you a tip,  consider who they are and what there angle is.  

My final thoughts are this... my miners are back on this coin and I'm using 20% of what I made from this coin to buy it back (my plan is risk 20% of what I made from this coin to buy it back knowing it could be worthless, but if it works the rewards are worth the risk) I've been buying below 5 sats and have bids in from 4 down to 1.  My premiss is probably 2/3 the coins are now controlled by less then 10 people.  It may take few more days to get the weak hands out and absorb what the other miners are selling, but I don't think the other big stake holders are are looking to for a few statoshi's on their positions.

Lastly, everyone says this coin is dead fuck it.  But I guarantee if this coin does move back up everyone denouncing it will come back and mine, in the end its all about the money.

FYI what are the odds I put on this coin coming back to life, I think around 20%, but if it does the size of my bet is worth the potential payoff.  

My rambling is over, hope I didn't piss off to many people.  If I did, then you don't get this game anyway, so who cares.

You must be very invested in Panda....

This is going to be a community-driven & sponsored coin.  We're not using your shit Panda coin (whichever one you're using), so please just freaking stop.

Do we need to perpetuate the joke that the Pandas are making of altcoins in general?

There are 3 or 4 different Panda Coins....No thanks.

This coin is dead.  Scam from the start.  "Investors" are looking to make a quick bucks.  Too much initial supply for this to go up anytime soon.

So many alt coins, nothing to see here. 

1 litoshi

Dev online but say nothing

delayed another hour??  

how about bonus round #2?

And I thought PANDA was bad ahahaha

i know why is called STACK. Devs got their stack of bitcoins !!!

Got to love all the fucking idiots instantly crying
No one cares, take your shit comments elsewhere kids.

End of delay time
Still not open