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Seidr
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February 26, 2014, 06:57:03 PM |
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No Premine unless all is given away for free and transparently like it was in PremineCoin (PMC).
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Gingermod (OP)
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February 26, 2014, 07:02:01 PM |
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No Premine unless all is given away for free and transparently like it was in PremineCoin (PMC).
"preminecoin" died buddy |
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SlidingHorn
Full Member
 Offline
Activity: 196
Merit: 100
★Bitvest.io★ Play Plinko or Invest!
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February 26, 2014, 07:03:22 PM |
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No Premine unless all is given away for free and transparently like it was in PremineCoin (PMC).
"preminecoin" died buddy LOL says whom?? The coin and its community are both alive and well. |
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Gingermod (OP)
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February 26, 2014, 07:04:59 PM |
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No Premine unless all is given away for free and transparently like it was in PremineCoin (PMC).
"preminecoin" died buddy LOL says whom?? The coin and its community are both alive and well. Says the 170k market cap and under 10k volume. It's not like PREMINEcoin is going anywhere, seriously guys? |
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Seidr
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February 26, 2014, 07:20:06 PM |
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No Premine unless all is given away for free and transparently like it was in PremineCoin (PMC).
"preminecoin" died buddy LOL says whom?? The coin and its community are both alive and well. Says the 170k market cap and under 10k volume. It's not like PREMINEcoin is going anywhere, seriously guys? But that's quite impressive for a coin where only the tax fees are minable and the biggest exchange was down half of the day. This coin is undervalued at the moment and the price rises nearly everyday. No exactly what I would call dead. |
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Gingermod (OP)
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February 26, 2014, 07:22:21 PM |
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No Premine unless all is given away for free and transparently like it was in PremineCoin (PMC).
"preminecoin" died buddy LOL says whom?? The coin and its community are both alive and well. Says the 170k market cap and under 10k volume. It's not like PREMINEcoin is going anywhere, seriously guys? But that's quite impressive for a coin where only the tax fees are minable and the biggest exchange was down half of the day. This coin is undervalued at the moment and the price rises nearly everyday. No exactly what I would call dead. It's quite low(rank 74), the price is volatile so I wouldn't say it's "rising", and it's called fucking preminecoin. Please. EDIT: Rank 77 |
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Gingermod (OP)
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February 26, 2014, 07:32:33 PM |
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Looks like no premine is the way to go.
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eizh
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February 26, 2014, 07:47:24 PM |
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All premine coins are garbage. There haven't been any exceptions to date. I've only ever mined them to dump and buy real coins with innovation. Currently, all these shitcoins are just an agreed-upon pump and dump game. Some win, some lose. But everyone's convinced themselves that they'll be on winning side. Cognitive biases are funny.
The market will learn over the course of a year, I think. This is a transient phase. The idea itself is just comedy. Something is supposed to become a universally accepted exchange medium, yet 1 guy starts with something on the order of 1% of the total supply? LOL. Even the USD, with all its inequality, doesn't have that.
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Seidr
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February 26, 2014, 07:52:09 PM |
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No Premine unless all is given away for free and transparently like it was in PremineCoin (PMC).
"preminecoin" died buddy LOL says whom?? The coin and its community are both alive and well. Says the 170k market cap and under 10k volume. It's not like PREMINEcoin is going anywhere, seriously guys? But that's quite impressive for a coin where only the tax fees are minable and the biggest exchange was down half of the day. This coin is undervalued at the moment and the price rises nearly everyday. No exactly what I would call dead. It's quite low(rank 74), the price is volatile so I wouldn't say it's "rising", and it's called fucking preminecoin. Please. EDIT: Rank 77 The Price will stabilize itself at a point because there is no inflation at all, no new coins to be dumped are generated and more committed Members of the Community are buying the scarce Coins from less committed Members. The Name.. yes the Name doesn't make it easy because it sounds provocative to many miners. But oh well, maybe even that can be useful to get a Coin known. |
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The One
Legendary
Offline
Activity: 924
Merit: 1000
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February 26, 2014, 08:10:51 PM |
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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.
Concur. Premine is no difference to fiat money whereas bankers create money out of thin air. Coins needs to be mined, the work and cost involved in mining creates value in the coin. Premine is just an excuse for developers to get rich quick. |
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Gingermod (OP)
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February 26, 2014, 08:24:08 PM |
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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.
Concur. Premine is no difference to fiat money whereas bankers create money out of thin air. Coins needs to be mined, the work and cost involved in mining creates value in the coin. Premine is just an excuse for developers to get rich quick. Finally someone here with a brain. Tired of being called a troll. |
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brokedummy
Legendary
Offline
Activity: 980
Merit: 1004
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February 26, 2014, 08:37:53 PM |
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Mintcoin with a 1% premine is better than topcoin's 6 hour instamine equivalent of 6% premine. Both are probably going to be more sucessful than a no premine coin that doesn't have a good community or commited developers. I am a speculative miner and I mine things that I think will be valuable when eventually exchanged, most of the times I win it is with a coin that has been premined or otherwise topheavy. Don't get too hung up on how much the dev is going to make or you will lose potential profits for yourself. Ideally, I'd like to see a small premine 0.05% or less, and low reward blocks until he network is stabalized to prevent instamining, but I'll mine anything I think I can profit from by being earlier than the next guy.
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Gingermod (OP)
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February 26, 2014, 08:42:03 PM |
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Mintcoin with a 1% premine is better than topcoin's 6 hour instamine equivalent of 6% premine. Both are probably going to be more sucessful than a no premine coin that doesn't have a good community or commited developers. I am a speculative miner and I mine things that I think will be valuable when eventually exchanged, most of the times I win it is with a coin that has been premined or otherwise topheavy. Don't get too hung up on how much the dev is going to make or you will lose potential profits for yourself. Ideally, I'd like to see a small premine 0.05% or less, and low reward blocks until he network is stabalized to prevent instamining, but I'll mine anything I think I can profit from by being earlier than the next guy.
Good coin, good community, with no premine > "Good" coin, good community, with premine |
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Trafficlearn
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February 26, 2014, 09:37:40 PM |
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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? I don't think they should premine for quick profits...but in order to supply services and grow the coin OUTSIDE of crypto...it is essential..TeslaCoin had a 3% premine which is STILL HELD by the core developers....when things like promotional videos cost upwards of 50,000 coins(for a professional production)....exchanges get paid...website development and hosting....etc...do you really expect the DEVS to do this with only what they MINE? while the miners just mine and dump? that doesnt set up a very fair playing field imho....especially with the amount of competition these days.... |
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usahero
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February 26, 2014, 10:40:05 PM |
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I don't like premines. Most premined coins are shit.
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chris112
Newbie
Offline
Activity: 37
Merit: 0
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February 26, 2014, 11:57:26 PM |
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I don't like premines. Most premined coins are shit.
Please let me know how a coin developer can pay for a business, lawyer, accountant, updates, development etc for a coin if there is no premine? If you take out the lawyer, accountant, developer and just wing it...how can you just keep updating the coin and do all the things necessary to advertise and support the coin in the future with no money? I am not coming at you. I just have a legitimate question for you. |
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BitCoinPokerBro
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February 27, 2014, 12:57:48 AM |
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I don't like premines. Most premined coins are shit.
Please let me know how a coin developer can pay for a business, lawyer, accountant, updates, development etc for a coin if there is no premine? If you take out the lawyer, accountant, developer and just wing it...how can you just keep updating the coin and do all the things necessary to advertise and support the coin in the future with no money? I am not coming at you. I just have a legitimate question for you. lol PATHETIC lol |
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SlidingHorn
Full Member
Offline
Activity: 196
Merit: 100
★Bitvest.io★ Play Plinko or Invest!
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February 27, 2014, 12:59:43 AM |
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I don't like premines. Most premined coins are shit.
Please let me know how a coin developer can pay for a business, lawyer, accountant, updates, development etc for a coin if there is no premine? If you take out the lawyer, accountant, developer and just wing it...how can you just keep updating the coin and do all the things necessary to advertise and support the coin in the future with no money? I am not coming at you. I just have a legitimate question for you. Which is why, if you want to have a legitimate, successful coin, you'll have a proper business plan, etc. which will have all of these problems solved for you  Away with scammy little shitcoins. |
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chris112
Newbie
Offline
Activity: 37
Merit: 0
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February 27, 2014, 02:20:04 AM |
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lol PATHETIC lol
[/quote]
That's your answer?
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chris112
Newbie
Offline
Activity: 37
Merit: 0
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February 27, 2014, 02:33:13 AM |
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In my opinion, It looks like the arguments for a minute premine is much more favorable than the arguments, or lack of, against premining.
Interesting.
Do those who think premining have a constructive answer to show how a coin will work with a true 0 premine/instamine?
What I gather from these posts against premining is that those who don't premine can have a successful coin only if the developer is also a designer, security expert, hacker, accountant, marketer, advertiser, web developer, attorney and bank all in one. AND he has no other job and money in his bank to just throw at an alt coin. Now that is a good plan.
And then I too agree 0 premine can be successful with that guy.
There is always an exception to the rule of course.
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