Lower total amount of insanes is good but what's the reason for the burn? Is this coming out of the #1 wallet which was to be used for bounties/promotions?
It is basically being done to reduce what amounted to a de facto premine of around 25%... The burn of 3.7mil will leave about 3.8mil in the bounty pool and that should be enough to get us rolling and get the price going up for everyone holding Insane.
I think it is 4.3 million in the bounty pool, and this is the issue that needs addressing.
A community coin must be transparent. Everything gets documented. Every bounty, tx,. Spends are community spends, so they need to be run past it, and explanations given as to what spending money - which can be dumped - will offer INSANE in terms of a growth strategy.
It would be better to work on marketing, save the 4.3 or even the whole 8m and put it to the care of the Garden as they have reputation to protect.
Eventually, assuming INSANE achieved good ends, ICO it at in stages at market price (just above as you have to cover availability at price X, not act that all coins are available at price X (Trumpcoin Fund Swindle). ICO is the wrong term, I mean reasonable sales that benefit both parties.
You get a lot more bounty when you have bitcoin or dollars.
