Ridiculously premined alt coins

[Jcw188]

Mining is the scam;

Hey lets make a currency to avoid the evil banks and distribute it fairly (oh but you must have many thousands $$$$ in computer gear to mine and the more you have the more you get hmmmmmm).

Damn those people with money!! 

Well, I thought part of the point of some of these coins was to distribute wealth more evenly.  Unfortunately the game is lost almost right away, whereas with fiat money it's just slowly causing more and more inequality.

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[sam53]

saw a few dogs bark at low premined coins, so pump this one so people know there are much worse ones!

[zackclark70]

Agree with you said, but there's a limit to the amount of the premine. 5% appears way excessive, 20% is a joke

just a heads up that adt is being fixed and it will more than likely make the total coins up to 180,000,000,000 so the premine will be 2%

( going threw al this in the repair thread )

[Hippie Tech]

Agree with you said, but there's a limit to the amount of the premine. 5% appears way excessive, 20% is a joke

just a heads up that adt is being fixed and it will more than likely make the total coins up to 180,000,000,000 so the premine will be 2%

( going threw al this in the repair thread )

Now factor in the easymine. They are not different from one another and should be taken into consideration.

I mined 100 524,288 IFC blocks with one 300 khash gpu, and it only took hours/ 1-2 days. Knowing that, please explain why anyone in their right mind would want to pay anything more than 0.00000001 LTC per. Per 100 lot is more like it. lol

You somehow managed to aquire over 1 billion IFC, just after or before the first halving. Knowing THAT..  -------^^^^ 

How did you aquire such vast sums at such an early stage in the game ?

[zackclark70]

Agree with you said, but there's a limit to the amount of the premine. 5% appears way excessive, 20% is a joke

just a heads up that adt is being fixed and it will more than likely make the total coins up to 180,000,000,000 so the premine will be 2%

( going threw al this in the repair thread )

Now factor in the easymine. They are not different from one another and should be taken into consideration.

I mined 100 524,288 IFC blocks with one 300 khash gpu, and it only took hours/ 1-2 days. Knowing that, please explain why anyone in their right mind would want to pay anything more than 0.00000001 LTC per. Per 100 lot is more like it. lol

You somehow managed to aquire over 1 billion IFC, just after or before the first halving. Knowing THAT..  -------^^^^ 

How did you aquire such vast sums at such an early stage in the game ?

firstly I have a nice chunk of mining power I also rent mining power and I buy newly made coins i had far more than 1bill IFC at 1 point

also the coin i am talking about here is ADT not IFC and yes i also have a nice chunk of that and most of that chunk was brought not mined

[Hippie Tech]

Agree with you said, but there's a limit to the amount of the premine. 5% appears way excessive, 20% is a joke

just a heads up that adt is being fixed and it will more than likely make the total coins up to 180,000,000,000 so the premine will be 2%

( going threw al this in the repair thread )

Now factor in the easymine. They are not different from one another and should be taken into consideration.

I mined 100 524,288 IFC blocks with one 300 khash gpu, and it only took hours/ 1-2 days. Knowing that, please explain why anyone in their right mind would want to pay anything more than 0.00000001 LTC per. Per 100 lot is more like it. lol

You somehow managed to aquire over 1 billion IFC, just after or before the first halving. Knowing THAT..  -------^^^^ 

How did you aquire such vast sums at such an early stage in the game ?

firstly I have a nice chunk of mining power I also rent mining power and I buy newly made coins i had far more than 1bill IFC at 1 point

also the coin i am talking about here is ADT not IFC and yes i also have a nice chunk of that and most of that chunk was brought not mined

We're talking about ridiculously premined coins. My point here is how IFC and ADT have, and continue to be, ridiculously easymined and should be considered one and the same with regards to said topic.

In other words.. those that make it that fast n easy, should be forced to wear a big fat ponzi bell, to help warn the ridiculously greedy before they fall for the pump n dump trap.

[SSC]

hi,

What is the MOST premined coin? What percentage is the premine?

Thanks.

[maxxoccupancy]

There's a really simple solution to all of this called "options" with an exercise date at least one year after the coin is released. This would eliminate ALL pump n dump crap coins.

Hi Joe_Bauers, sorry for my naivety of economics but I'd love a layman's explanation of this.

A dev would be able to allocate a small amount of coins upon creation, but they would't be able to spend them for a specified period of time - say 1 year. This way, the dev would have a vested interest in the coin. I suppose really this is more similar to a bond.

True (call) options also have to be above a certain value (strike price) on the exercise date to be redeemed. This could also be incorporated into a coin, though not as easily.

http://en.wikipedia.org/wiki/Option_(finance)

Better yet, have some kind of parallel mine, but no premine.  In other words, the development team would start with nothing, but share 5% of the reward coins generated.  If 500 coins are produced in a day, each of five developer, advocate will get five coins sent to their address out of 25 total.  With their benefit being based entirely on the long term value and viability of the altcoin, they would have every incentive to maintain a higher, stable value.  If the altcoin eventually builds a $10 million market cap, each one would have $100k worth of their own coins, but only after working to build that kind of value.

if the premine is used to promote / repair the coin only and not make the devs money its best to have the whole amount to hand to pay for unexpected things

I think that you've hit upon a more salient point:  any currency--digital, paper, securities, shares, or even base metals--must be supported by a network of honesty, openness, and scrutiny.  The Federal Reserve System--and the other nationalized private banks around the world--have not always kept to their word.  It has been the lack of trust in that monetary system that has led to the widespread interest in digital coins, even though they are not "Notes" like FRN's, Euros, pesos, etc.

[cinnamon_carter]

i think cloud coin was a big premine

[danimono]

Hi.

Oh man reading this thread gave me an idea to revolutionize the crypto coin world but if it works i will need 200 armed guards in my home to protect me until a missile blows my home.

95% of the gains will be used to help (food stamps) old people (+65) who live in countries that are in the top50 gdp list. Yes sorry im tired of seeing help the third world and nobody saying the first world needs help too ¡¡
Devs contact me and lets do the next big thing.

[zackclark70]

trade coin was 100% premine

[alphaomegacoin]

AlphaOmegaCoin was below .01 percent pre mined before miners released to the public for promotions.

If anyone needs or wants any information on this coin verified get in contact with me please.

We are finishing up pool .

2 mining wallets are up will be 3 soon putting out another updated wallet with more nodes.

Block explorer will be posted soon blocks are at 4375 as I'm writing this post.

Anyone other information anyone wants or needs to know will be posted or answered.

[ghostlander]

5% doesn't sound too bad really (regarding ADT).

You make the coin, and try and get some money. Let's not kid ourselves that many of these coins function to do anything else (a few noble exceptions, of course)

ORB was about 66%, or so I am led to believe.

PXC was hugely premined, too. Again, I am led to believe about 30%.

Then there were the FTC accusations, never verified whether true or not.

What? PXC pre-mined hugely? 1 million out of 168 million back in time, 0.6%. It's no more anyway.

[CryptoCashNow]

I could not agree with the OP more thats why my coin was released now we wish we premined it since only seems the ones with a premine do well haha

http://www.cash-coin.org/

But I just don't know if fair coins can compete which is just odd.