By modifying some of bitcoin source code ... that's hell of a way to get rich quick! thought China gov just banned such kind of ICO or pre-mined scam, guess not true.
a lot of countries banned ICOs not just China, but I have never heard them banning any pre-mine shitcoin.
also it is worth mentioning people have been "modifying" bitcoin source code to create shitcoins for years. this it not new!
Bitcoin Gold codebase also contains a private premine of 8,000 blocks (100,000 BTG) up to 210,000 BTG (1% of total supply). Please be aware that if a market does open there is a possibility of the developers selling their premined BTG on the open market.
last time I checked the code it was 16,000 blocks which is 200,000 BTG (16000 * 12.5 = 200000).
also last time I checked their project they were implementing some sort of lock_time mechanism to prevent selling of the premined coins programmatically.
With so many coins being premined by the developer, there is a legitimate chance the BTG supply will be dumped onto exchanges, assuming this token ever gets on an exchange to begin with.
if the lock_time is implemented there is no way for them to dump the premined coins as fast.
besides you have to be worried about 16.6+ million coins that other millions of bitcoin holders receive and dump not what the dev may or may not dump!
p.s. I find it interesting that many people care about BTG's premine but not ETH's premine (it was 72 million coins last time I checked) and there is no difference, they are both shitcoins created by their devs to get rich quick. both are full of bugs and don't do anything meaningful for cryptocurrencies, they just have a "cool idea" and that's about it.
