For me, I see now there was a mis-interpretation of the language.
I "thought" bidding for the 1.6M coins would go from Jan 13 - 27 as stated.
Now the word "bid" is where my problem lies. I assumed this meant the highest offers by the end of window; totaling 1.6M would be sold. I did NOT realize the first people to offer to buy 1.6M @ 5 cents was the deal.
To me, this seems to miss the statement
"The reason we want to sell of coins during the launch is because not everybody has an ability to mine coins, this would give an unfair advantage to early miners.
They would get a fairly large amount of coins due to low difficulty, giving a great advantage over traders who have to wait until our coin is accepted on exchanges."
I am one of these who doesn't have a great ability to mine coins. I came here as soon as I saw ramblings, but still "bidding" was closed (along with address to bid) in less than one day of announcement.
BIDDING IS CLOSED<EXPECT A REPLY TODAY< WE MIGHT BE ABLE TO ACCEPT (ALMOST) ALL BIDS>STAY TUNED (we might have to counter some offers that were fairly large to give others a chance aswell), If certain payments do not follow through we will reopen that spot.
we are currently puzzeling all the offers together and
taking some of very large offers so that every offer made can be accepted, expect an email today.
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ow and no offer is to small for us, we value your support
It would seem then that possibly large amounts of coins went (are going) to just a few people. Again, this seems to miss the original statement to allow everybody a chance who cannot mine.
Further, of these people who purchased large amounts; aren't most going to insta-mine as well? Doesn't this, then, exacerbate the first quoted statement; rather than help?
If someone happened to buy say 500k stake coins and has 50MH of mining; they could control a significant market share for a few
monthsThere was another post in this thread, where a user suggested 2k coins should've been the max for a single buyer and I feel I have to agree here. Heck if not enough sold, maybe THEN you could sell large chunks.
I do not mean to spout negative and I do wish you and your coin success. I tend to be leary of new coins, as it is; I cannot deny that so far I'm even more hesitant. I can say with assurity, though, if the evident backers weren't btc-e devs; I'd have no part of it.
Thanks