He doesn't have 7mil, he's not the orginal dev
The original dev being Hyoshi .. aka creator of Nibble.
let me simply explain that - its called a classic throttle -
by lowering the block reward you restrict the money supply , thus there may be naturally less sellers than any poor buyers bilked out of their investment money and the price will appreciably rise.
were upon you can dump your 7 million or so .
its not that much different to rise in interest rates raising the "price" of money , and throttling the economy in some possibilities .
Hah digitalindustry, I suggest you think twice about accusing me...
In all seriousness though,
We didn't premine anything, I am not the original dev, I've bought all my coins on the open market, and the original dev couldn't have premined more than 1.2M, most of those coins are likely gone by now.
From memory the orginal dev had about 2mil (premine, early mining, trading), however of that he gave a few away, sold (then also bought back a few), its possible he still holds a million or so, but there are certainly others with more (however there was never any 7mil premine).
I am sure a few of the current dev team have bought/mined a few but none of that seems to be for any malace intent or short term profiteering.
BTW I am someone hugely critical of gldcoin and myself am no friend of microguy (if you check the history). I just don't like too much bs spread.
From cryptsy chat etc I am sure plenty of even the anti gldcoin crowd hold a few just incase microguy and his team gets it right, stranger things have happen.
