What are these 35 million and 5 million adresses?
http://45.76.246.101:3001/richlistHas someone bought over 100 kH/s hashing power from NiceHash at the beginning and mined like a mad man?
It doesn't look very distributed. My hashing power is ~300 H/s. Pool reported that this would be equivalent of ~500 coins per day. It would take almost 200 years to mine 35 million
If the algorithm had been changed you wouldn't have been able to buy Hodlcoin hashing power from NiceHash.
Hello HodlOrava,
The premine of 6% occurred between blocks 100 and 201 at about 5000H/s. Please keep in mind. This is only 6% of the calculated POW coin supply. The POS and Term Deposit will expand so that coin base by more than a factor of 4. If nothing else happened, but everyone mined every block, then term deposited those 1 billion coins. On maturation, there would be 4 billion coins. That premine would then be 1.5% of the coin supply. In reality it will be less, as over time, people mine, stake, buy, term deposit, etc, to organically grow the coin base at an exponential rate due to the very nature of how the coin is structured.
The premine will never ever be dumped. Most of it is locked up and will be locked up again... Until how ever many years down the road, the coinbase on the exchanges has grown such, that some of the premine can be bled out, to start paying off the investor.
A premine is unavoidable, it eventually pays the investor back, who pays for getting the coins on the exchanges, marketing and may other things. It allows for us to do things like pay bounties for services that we just don't have time to get to, but need. It also allows us to pool for faucets and other types of ways to get more coins into circulation - i.e. get more coins into the hands of the community.
There is also the dev team, with countless hours working, testing, proofing, midnight conf calls, re-working and testing again... Out of pocket for VPS nodes, web hosting, domain name, web site development (and still growing). Buying up computers to get an initial net hash rate up to prevent a 51% attack on day one...
For the last 6 months, if I was not at work, I was working on code. If I got 4 hours sleep a night, that was good. On weekends 20 hour days and 3 pots of coffee was the norm. What was really annoying is just when you thought your goals were done for the day, and you are dreaming about code and watching it compile in your sleep... You wake up after only an hour, to start working again for another 8 hours or more.
So eventually, the devs too will earn for what they worked for. But, it will not be at the expense of the coin, the community or the markets. There will never be a dump. But eventually, we too, would like to earn from our labor.
I hope I can get this across, that our intentions are genuine for the life of the coin. As any developer will tell you, supporting a coin is a full time job. Even now, laying together plans for the next gen ROI wallet to begin work in a month or so. I do plan on quitting my day job in a year or two, to work on this full time, depends on what the coin and the markets are doing. Even then, it will be a slow bleed off, to get a weekly paycheck. There really is nothing I can say. Other than, stick around and observe how everything plays out over the next 30 years. Should be a wild and profitable ride for the miners, investors, and anyone who has a stake in the outcome of this coin.
Or, if you would like, I believe CryptoNote has a fancy little calculator which will make you a coin.
