Ridiculously premined alt coins

[nmtrader100]

Sorry but as bad as Quark is at 250 million already, NXT is king = 1 BILLION pre-mined coins.  Only they weren't pre-mined, they were "pre-created" and given to the select few investors.  Apparently that makes a difference.

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[maxxoccupancy]

That's fine, as long as the proponents of those two currencies don't mind doing 100% of the work to get them accepted.  If the rest of us have no stake in them, why should we buy in?  Early adopters are investors, of a sort.  I would love to get involved in the creation of an altcoin, but I would never advocate large pre-mines or deceptive tactics.  I'm involved in this because I believe in digital currency, and I believe that the world should be able to spend, save, invest, donate, or send money without being gouged by the financial industry, which already gobbles up 50% of all business profits, sapping the life blood of the free enterprise system.

[AndrewWilliams]

Don't forget GoldCoin, GLD.

[eon89]

Sorry but as bad as Quark is at 250 million already, NXT is king = 1 BILLION pre-mined coins.  Only they weren't pre-mined, they were "pre-created" and given to the select few investors.  Apparently that makes a difference.

Everyone who has those coins had to put money into it. They would lose everything they put into it if the coin failed so they constantly praise it and defend it.

[2Kool4Skewl]

Sorry but as bad as Quark is at 250 million already, NXT is king = 1 BILLION pre-mined coins.  Only they weren't pre-mined, they were "pre-created" and given to the select few investors.  Apparently that makes a difference.

Everyone who has those coins had to put money into it. They would lose everything they put into it if the coin failed so they constantly praise it and defend it.

Anyone could have invested in Nxt and received genesis coins.  It sounds like you're upset because you didn't invest.  Go to Dgex.com and buy some Nxt.  They are extremely cheap right now.  I wish I had more Nxt too, but I have to purchase it like everyone else.

Don't be hatin' just be playin'!

[Hippie Tech]

Premine.. easymine .. whats the difference ?

How big will the pile be if we count the ridiculously easymined ones ?

[sam53]

lol, easymine you mean instamine? at least these are guys with big rigs, and it's a more fair way than premine.

[number37]

greedy, greedy, greedy...

[zackclark70]

I remember when Elephantcoin (ELP) was launched, people bashed it for having premined 0.4%. But now I found the recent launched coins become ridiculous in premining, often hiding it under some obscure and nice names, such as donations, bounty or even tax. And strangely enough, I don't see a lot bashing or trolling on these coins, which I think would go to trash can, what leads me to believe is that many of the trolling in this forum are controlled by certain people.

Let me give two examples:

1. ADT, Androids Tokens:
https://bitcointalk.org/index.php?topic=276884.0

in the thread it is said that 2% premine, which is already huge, but if you look at the blockexplorer, Block 1 has 3.6 billion coins, a whopping 5% (3.6/66) premine!
http://androidstokens.kicks-ass.net/block_crawler.php?transaction=f43c8979d3052ffd43d79f4634786cf370e4537dad26c499e8ef2369bf479327


2. GLB, Globe - the recent launched one
https://bitcointalk.org/index.php?topic=360255.0

takes 20% "tax", lmao, tax... really makes me laugh...

all I can say is that the dev of alt coins become desperate, they just try to get max possible out of the coins they made, and try to fool people under a nice name.

Same thing was seen before, for coins like Stablecoin, Argentum etc, with nice writings, nice websites etc, under which if you look carefully you find huge premines. What surprise is that this now becomes public, and there's no problem to declare 2% or 20%.

This is sad. I am ok for a little premine (ie less than 1%), anyway we should not expect free work from dev. But 5%? 20%?? this really gets me, anyway I never mine coins like this. The world is big, haha.

going to correct you on ADT there were originally meant to be 180,000,000,000 coins we had the issue with the stuck POW block when we were at 66,000,000,000 coins we could not roll back the coin as it would have meant cryptsy losing thousands of usd of crypto so instead jag decided to keep the coin pure POS the premine then ended up being a higher % of the total coins it was never planed that way the premine has been used to pay for repairs and services if you have any questions about whare it has gone you can talk to jag here > www.the-adt-forum.com

thanks

zack 

[Hippie Tech]

lol, easymine you mean instamine? at least these are guys with big rigs, and it's a more fair way than premine.

Both, I guess. heh..

Btw, premine, insta and easymine are all forms of coin rape and should not be tolerated by any long term investor.

UPDATE..

LOLz zack.. you pre-easy-instaminer you. 

[number37]

blah blah...zack, the premine is 5%, it took 30 sec to change the OP of ADT. It said 2% but it is 5%, cheater not intentional?? lol.

yes, we know that premine is used to pay repair, dev, and blah. but in fact, it is the dev's greedy that they need 5%. For all the purpose, 1% is largely enough, and dev gets already more than he merit. 5%? excuse me?

And I know there's a long list of non-premined coins... devs of these coins died of hunger?

[zackclark70]

blah blah...zack, the premine is 5%, it took 30 sec to change the OP of ADT. It said 2% but it is 5%, cheater not intentional?? lol.

yes, we know that premine is used to pay repair, dev, and blah. but in fact, it is the dev's greedy that they need 5%. For all the purpose, 1% is largely enough, and dev gets already more than he merit. 5%? excuse me?

And I know there's a long list of non-premined coins... devs of these coins died of hunger?

I just asked jag to update the whole ANN thread when the total coins were changed from 180 bill to 66bill + 0.001% POS the premine % was not even considerd as we were to busy getting the coin back on track

if you honestly think we did something wrong please bring it up on the forum or on the ANN Thread I am not trying to hide anything I was just making sure people have the facts

[number37]

Not particularly to attack ADT. It's just 5% premine is a lot and catch people's eyes.

[dfox101]

any kit to create a coin? I want create a premined one too   

[number37]

any kit to create a coin? I want create a premined one too   

Do a search, you should find at least 2 tutorials

[Safty]

NXT - 1 billion coins (100%) premined. 1 Million NXT now sells (they say so with their dozen accounts) for 10 BTC. wtf 

[pinarello]

NXT - 100% premine.
And no problem - everybody want to buy that coins ))

NOT premined, shares dustributed to early investors. big difference

[muddafudda]

Copperbarz pre mined 10,000 blocks before public release

[skaffen]

Novacoin? Not sure:  https://bitcointalk.org/index.php?topic=143828.0

[Hippie Tech]

any kit to create a coin? I want create a premined one too   

Ask this guy. https://bitcointalk.org/index.php?topic=352830.0

He's really good at setting up alts with premines and likely responsible for half the junk scam coins out there.