PREMINE - What's happening

[Gingermod]

I feel like no one seems to care about Premines anymore. Recently Mintcoin got pumped up pretty high by many individuals, no one seeming to care about the now 170 thousand dollars they gave some guy.

What do you guys think? Are small premines an exception? Should premines just go?

[albertdros]

I feel like no one seems to care about Premines anymore. Recently Mintcoin got pumped up pretty high by many individuals, no one seeming to care about the now 170 thousand dollars they gave some guy.

What do you guys think? Are small premines an exception? Should premines just go?

to be fair, that 170 thousand dollars was worth 20 times less 1 week ago. The devs continue to work very hard on the coin, even tho it was at 3 satoshi. So, I guess their continuous hard work paid off.

[Gingermod]

I feel like no one seems to care about Premines anymore. Recently Mintcoin got pumped up pretty high by many individuals, no one seeming to care about the now 170 thousand dollars they gave some guy.

What do you guys think? Are small premines an exception? Should premines just go?

to be fair, that 170 thousand dollars was worth 20 times less 1 week ago. The devs continue to work very hard on the coin, even tho it was at 3 satoshi. So, I guess their continuous hard work paid off.

So should all devs premine for quick profit potential?

[Gingermod]

Personally I think this "fair distribution" model is absolute bullshit. Devs spreading valueless money just to get people hyped up enough to pump up their coin. The act of premining inflates and devalues the currency.

[KaozTiposta]

Almost every developer is creating his coin for a profit. This is acceptable. They don't create for you to dumping coins at first exchange.

So % 0.25 is ok.

[Gingermod]

Almost every developer is creating his coin for a profit. This is acceptable. They don't create for you to dumping coins at first exchange.

There are other ways to make profit. Ways that yes take more effort than premining, but those efforts have the potential to skyrocket the coin and make the dev a stable income rather than a risky attempt at some big one time cash before the coin dies out.

[iampingu]

I don't mind a completely transparent premine, though if it isn't in the hands of a trustworthy dev, it's getting dumped.

[KaozTiposta]

Almost every developer is creating his coin for a profit. This is acceptable. They don't create for you to dumping coins at first exchange.

There are other ways to make profit. Ways that yes take more effort than premining, but those efforts have the potential to skyrocket the coin and make the dev a stable income rather than a risky attempt at some big one time cash before the coin dies out.

If you create a coin, which ways do you prefer to make a stable income? Donations, services, maybe..

I can't see any profit if you don't have a gpu or gpu farm.

[hasar]

You could have bought 50000 premines using one bitcoin. Now you can't.

[Vann]

I don't mind an upfront premine as long as the release is fair for everyone. It's better than stating 0% premine and then instamining all the low diff blocks by withholding the wallet or not having any pools setup where everyone can start mining at the same time. There's more than one way to skin a cat

[gielbier]

I am against premining. But in some ways a very small premine could be justified. If you look how LTC BTC or XPM manifested itself in the crypto community, then I would say that there is no reason to premine at all.

[miningcrew]

My ideal solution would be 0.25 % of every block, but no premine.

So there would be some funds for promotion and marketing (at the beginning), and the developer will stay around - could consider it his private pension fund .

PS: Furthermore a developer, who believes in his coin does not need any premine.
If he wants to earn, he rents mining equipment for - lets say 10 for BTC - sets up a cron job 1 second after launch and he will "earn" a lot of coins - because he has "insider knowledge" - but that requires some initial investment.

[porcupine87]

I feel like no one seems to care about Premines anymore. Recently Mintcoin got pumped up pretty high by many individuals, no one seeming to care about the now 170 thousand dollars they gave some guy.

What do you guys think? Are small premines an exception? Should premines just go?

If the coin is just copy and paste, then it might be too much. But if someone sets hundrets of hours into this coin, a premine would be fine. Also in that way: If I have many coins I have an incentive to improve this coin.

[Gingermod]

I feel like no one seems to care about Premines anymore. Recently Mintcoin got pumped up pretty high by many individuals, no one seeming to care about the now 170 thousand dollars they gave some guy.

What do you guys think? Are small premines an exception? Should premines just go?

If the coin is just copy and paste, then it might be too much. But if someone sets hundrets of hours into this coin, a premine would be fine. Also in that way: If I have many coins I have an incentive to improve this coin.

All coins are pretty much clones

[Miner232432]

Pre mines are ok

It's IPO's with no proof of concept for coin that needs to be banned

"Hi I make coin, gief me BTC"

That's literally you need to do these days to make BTC, I'm almost tempted to make some bullshit coin myself

[Gingermod]

Pre mines are ok

It's IPO's with no proof of concept for coin that needs to be banned

"Hi I make coin, gief me BTC"

That's literally you need to do these days to make BTC, I'm almost tempted to make some bullshit coin myself

premine sucks bruh

[escrowman]

under 1% can be accepted

[Miner232432]

Pre mines are ok

It's IPO's with no proof of concept for coin that needs to be banned

"Hi I make coin, gief me BTC"

That's literally you need to do these days to make BTC, I'm almost tempted to make some bullshit coin myself

premine sucks bruh

Not if the premine is being used for development of the coin and improving services, getting on exchanges and promotion.

As long as it's fully transparent then there should be no issue providing it's a max of 2%

[Snard]

I don't mind a completely transparent premine, though if it isn't in the hands of a trustworthy dev, it's getting dumped.

Even trustworthy devs dump.

[Gingermod]

Pre mines are ok

It's IPO's with no proof of concept for coin that needs to be banned

"Hi I make coin, gief me BTC"

That's literally you need to do these days to make BTC, I'm almost tempted to make some bullshit coin myself

premine sucks bruh

Not if the premine is being used for development of the coin and improving services, getting on exchanges and promotion.

As long as it's fully transparent then there should be no issue providing it's a max of 2%

You know that doesn't take much money right?