How much is too much? (premine)

[roundrobin]

Depends entirely on what is done with the premine. Forexample Solcoin...... two premine blocks with the reason to avoid fork at once in case the coin was hit hard by miners, and those only two blocks they gave to people as thanks for participation. So no premine for the devs BUT the devs now have no official coins to facuets etc so if they want to promote they need to start mining. There's an up and there's a down with no premine and it comes down to if it's greed or if it's for the community. 1 block of greed is 1 too much, 1 block of community premine is fine.

[markm]

Solcoin is a scan anyway, it would be stupid to put money into it as PWNing it is trivial.

The first thing you need before even launching a blockchain based coins is a means of securing the blockchain.

Without that, a blockchain is simply idiotic, some other method of securing a ledger must be used instead.

SO forget blockchains unless you have an insanely massive mining farm you are willing to deiciate totally to seucring your new chain.

Blockchains are insanely expensive to secure.

Go clone RIpple or something, anything, just find a way to have a SECURE ledger.

Instead of this endless stream of total scams, the totally insecure blockchains.

It is criminally irresponsible to advise anyone to throw money inso such insanely insecure garbage.

It is, in short, a scam. Pretending the thing is something other than an insanely insecure piece of crap. It is deliberate fraud.

-MarkM-

[Slushpuppy]

Damn near every coin that comes out is a scam, even if it has no pre-mine.

They are basically trying to scam people into putting money into a totally worthless wet paper bag for attackers to steal.

There is pretty much no chance they will ever be able to secure the blockchain so the whole concept is broken from the start.

Even DOGE has pathetically insecure blockchain, all that DOGE teaches us is how much hashing power an attacker could pop up with for free overnight simply by launching a meme. One "Hey wow lets PWN ALL the blockchains" meme could PWN them all, maybe even DOGE, except maybe litecoin (since DOGE did not manage to pop up overnight with enough hashing power to PWN litecoin).

So what DOGE showed is that it itself and all coins with less hashing power than it are all just scams sitting there offering people's money to who-ever comes along and PWNs the lot of them almost overnight.

-MarkM-

Hey mark I totally agree with you, especially the part about litecoin being resilient. I run the litecoin board over on reddit and watching doge was really weird. Its still weird. The first time it halved the hashrate did not really go down, there really is an overnight scrypt-NUKE for anyone savvy enough to market a coins launch. And hopefully ltc is a fallout shelter that can tank all