From what I can tell the creator holds like 45% of the coin!(?)
How is that possible? Is it true? I don't think anyone would be interested in a coin in which the creator held half. How could it be used as a legitimate currency?
The founder(s) of the coin seem to clearly hold a large disproportionate amount of the coin. I don't know how large. Nobody can possibly know due to the anonymity of cryptocurrency. This is why it's necessary for a FAIR coin launch to be publicly announced before the start, and to proceed without weird technical glitches, such as Windows mining code, which would be popular, having bugs preventing mining and giving a huge headstart to anyone capitalizing on the bugs with effective miners.
Since anyone can lie or twist reality with half-truths, a fairly launched coin will have zero or very little controversy surrounding it. I think Litecoin is an example of this. Even Bitcoin is accused of some unfair mining advantage by Satoshi. DASH clearly has a lot of controversy around the launch. I've only been reading into it a little while but objectively I tend to think the founder(s) have a huge amount of the coin from the earliest beginning.
Here is the first thread to look at:
https://bitcointalk.org/index.php?topic=999886.01. Within the very first hour over 500,000 coins were mined
2. Within 8 hours over 1.5 million coins were mind, which is most of the instamine.
On the matter of the instamine itself, to focus on the amount of the instamine and the subsequent disposition of the coins is to ignore a whole host of extremely deceptive and arguably fraudulent practices that surrounded it:
3. That Evan misled people into thinking that the launch would not happen for days (and specifically "definitely" not in "hours"), then it happened in a few hours, late at night in the US and during the early morning hours in Europe. Considering the >500K coins mined in the very first hour alone, the effect of this "ambush" was enormous.
4. That the stated reason for delaying the launch for days was to do more testing and fix bugs. Yet when the coin was lunched it still had a "serious error." ...
Now there are of course two sides to every story, but even the coin founder seems to agree there was something unfair about the launch:
https://bitcointalk.org/index.php?topic=559932.0The first 24 hours of the coins existence keep causing us problems, an "airdrop" could be a solution to this.
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Vote!
Sorry, this was a terrible idea.