you seem to have a grudge against this whole thing and furthermore you have no proof for your allegation.
the price is stable above 70 satoshis as promised by him (i think he said 65) and maybe he uses it for a giveaway or bounty also he revealed this address himself as a gesture of trust.
+1 .. Look at the markets, does it look like 50 mil is being dumped anywhere? No
Likelyhood .. Paying IPO investments to people
Sev
50 million panda is 35 bitcoins, so yes...I do see 50 million being dumped. Not all at once...its being gently massaged into your buying.
Do your math first.
Imagine you got 50M, go dump them, let's see if you'll get more than 5BTC now.
Look, guys, things are simple in life.
You have this coin here, 3-4 days old now. And you have this mysterious guy "Wolong" who's like, urban legend guy, all suck ups would love to be him, mothers would give their daughters to him, army needs people like that, etc. You can add up anything you like, I'm being just a slightly sarcastic, but we can safely assume that he's for sure some kind of folk hero around here, overly heavily mentioned, challenged or accused by people.
So, OK - new coin, obviously it's state of the art technology, all major improvements that have been made in course of last several months are added, all things seem smooth so far.
Then, you have that pre-mine thing. 3%, of which there was 2.5% intended for the IPO.
And then you have only thing I actually do object - releasing wallet 5 fucking minutes earlier. I just had to mention that, if we're to panic here about stupid shit, why don't you actually do it about that?
Let's now underline and get to the bottom;
a) It's real life, so when you DO play with cryptos, try to use some brain and simple social skills.
If you choose to believe in things, cool. If you choose not to; cool. Mostly, nobody even cares. In any case, choosing not to believe and bitching around boards does no good to anyone.
b) Is coin good?
Well, KGW + Adaptive N-Factor. Having both, PandaCoin tries to show that it's here to stay. As somewhat third generation coin, right?
I have no clue how to call it, but simply said - better than most, when talking from pure technical side. That would give this coin a reasonable plus.
c) Is 3% pre-mine risky? Sure, for couple of reasons, but not the obvious ones; actually they are pretty obvious but I have no clue why now and then someone flies in and says shit.
I'd call people stupid but I don't think THAT's the issue here. Still, seems like those who we won't call stupid, take some people as stupid with no problem.
Let's say, if our folk hero is half a guy everyone seems to take him for, can we imagine for a second that then probably guy is not an idiot?
So, there's 2 bags of pre-mine: 500 mil (development team and who knows what) and 2.500 mil for IPO.
Let's also imagine that someone who presumably has money, lots of it, won't go and risk his/her name for like a 35 BTC steal, can we?
Sure, you can DRIP it, but at this early stage, it's nearly impossible task unless you wanna destabilize coin.
And why in hell would anyone with half brain cash in and risk name at 1MIL coin cap? And 70 satoshi price? And not like, with 50M cap and maybe 400 satoshi?
Seriously, guys, you make me sad. With that kind of brain power, sad future.
d) So what to panic about?
Simple - that 2.500 mil coins who are in hands of IPO guys. THOSE are the weak parts of chain, as they have anonimity, less to loose if dump goes bad (price crush), so, think hard before you actually conclude that for some reason half a billion coins or even 50MIL at this stage are problem. Especially IF the coin author wishes to remain the folk hero he is and tries to preserve his status by merely honoring deals he made with them for 6 month period. Or miners you affect with that panic FUD bitching. Also, big miner dumpers, but they should be less effective as network hash goes up, and as soon as market cap becomes bigger over time.
Anyway, for a half-brain person, reading any FUD bitching should pose only for a laugh. Shame it's simply organised by other parties to affect coin development, shake up people, nothing more.
Things will be fine, and if services grow over time, if network hash grows - things will go well. In about 6 months from now, not even those 3 billion will be of significant matter.
I'm not basically saying that dumps won't happen, but to dump now at this point would be pretty much idiotic, right?
Sure, we saw people do it on these boards for far less, but even if our folk hero is a scammer, probably he's on a higher level, so few btc don't mean shit.
All things you're afraid of would in that case happen few weeks or months from now.
Actually, by seeing that you can mine 2.5 mil *other* panda a day with as much as 1.200kh/s, I'd say that these *attacks* are merely tries of pulling over some miners there to avoid death of *other panda* coin.
As, it seems that by so low diff, things could go way worse than 70 satoshi for *other* coin. Ironic, if you think about it really.
