Bitcoin Forum
June 20, 2024, 07:36:21 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Poll
Question: It seems like no one cares anymore, what do you think?
0.25%
0.5%
1%
NO PREMINE

Pages: « 1 [2] 3 »  All
  Print  
Author Topic: PREMINE - What's happening  (Read 3508 times)
Seidr
Full Member
***
Offline Offline

Activity: 350
Merit: 107


View Profile
February 26, 2014, 06:57:03 PM
 #21

No Premine unless all is given away for free and transparently like it was in PremineCoin (PMC).
Gingermod (OP)
Full Member
***
Offline Offline

Activity: 238
Merit: 100


View Profile
February 26, 2014, 07:02:01 PM
 #22

No Premine unless all is given away for free and transparently like it was in PremineCoin (PMC).

"preminecoin" died buddy
SlidingHorn
Full Member
***
Offline Offline

Activity: 196
Merit: 100

★Bitvest.io★ Play Plinko or Invest!


View Profile
February 26, 2014, 07:03:22 PM
 #23

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.

Gingermod (OP)
Full Member
***
Offline Offline

Activity: 238
Merit: 100


View Profile
February 26, 2014, 07:04:59 PM
 #24

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?
Seidr
Full Member
***
Offline Offline

Activity: 350
Merit: 107


View Profile
February 26, 2014, 07:20:06 PM
 #25

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.
Gingermod (OP)
Full Member
***
Offline Offline

Activity: 238
Merit: 100


View Profile
February 26, 2014, 07:22:21 PM
 #26

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
Gingermod (OP)
Full Member
***
Offline Offline

Activity: 238
Merit: 100


View Profile
February 26, 2014, 07:32:33 PM
 #27

Looks like no premine is the way to go.
eizh
Hero Member
*****
Offline Offline

Activity: 560
Merit: 500



View Profile
February 26, 2014, 07:47:24 PM
 #28

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.
Seidr
Full Member
***
Offline Offline

Activity: 350
Merit: 107


View Profile
February 26, 2014, 07:52:09 PM
 #29

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.
The One
Legendary
*
Offline Offline

Activity: 924
Merit: 1000



View Profile
February 26, 2014, 08:10:51 PM
 #30

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.

..C..
.....................
........What is C?.........
..............
...........ICO            Dec 1st – Dec 30th............
       ............Open            Dec 1st- Dec 30th............
...................ANN thread      Bounty....................

Gingermod (OP)
Full Member
***
Offline Offline

Activity: 238
Merit: 100


View Profile
February 26, 2014, 08:24:08 PM
 #31

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.
brokedummy
Legendary
*
Offline Offline

Activity: 980
Merit: 1004


View Profile
February 26, 2014, 08:37:53 PM
 #32

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.
Gingermod (OP)
Full Member
***
Offline Offline

Activity: 238
Merit: 100


View Profile
February 26, 2014, 08:42:03 PM
 #33

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
Trafficlearn
Sr. Member
****
Offline Offline

Activity: 280
Merit: 250


View Profile
February 26, 2014, 09:37:40 PM
 #34

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....



~TESLACOINS ~      http://www.teslacoins.com  Teslacoins! Renewable energy mining!  COMING SOON!
usahero
Sr. Member
****
Offline Offline

Activity: 434
Merit: 250


View Profile
February 26, 2014, 10:40:05 PM
 #35

I don't like premines. Most premined coins are shit.
chris112
Newbie
*
Offline Offline

Activity: 37
Merit: 0


View Profile
February 26, 2014, 11:57:26 PM
 #36

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.
BitCoinPokerBro
Hero Member
*****
Offline Offline

Activity: 826
Merit: 1000



View Profile
February 27, 2014, 12:57:48 AM
 #37

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
SlidingHorn
Full Member
***
Offline Offline

Activity: 196
Merit: 100

★Bitvest.io★ Play Plinko or Invest!


View Profile
February 27, 2014, 12:59:43 AM
 #38

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 Wink

Away with scammy little shitcoins.

chris112
Newbie
*
Offline Offline

Activity: 37
Merit: 0


View Profile
February 27, 2014, 02:20:04 AM
 #39



lol PATHETIC lol
[/quote]

That's your answer?
chris112
Newbie
*
Offline Offline

Activity: 37
Merit: 0


View Profile
February 27, 2014, 02:33:13 AM
 #40

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.

Pages: « 1 [2] 3 »  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!