A message to mods about new coin posts. I see many coins are being posted with "only 1% premine" or similar wording. There is a big issue here that is not clarified.
What is equally (or even more) important is the "time" equal to that premine. Whats is that mean?
Ok so lets compared:
1) Coin 1. 1% Premine. Total coins X. Number of years to mine all coins 50 years.
2) Coin 2. 1% Premine. Total coins Y. Number of years to mine all coins 4 years.
Are these two coins the same?
NO
The first coin means the developer has over 50% of the coins for 182.50 days.
The second coin means the developer has over 50% of the coins for only 14.5 days.
So in case of the first coin the developers (and all those who they have bribed with the premined coins to like exchanges etc) have full control over the market for 12 times longer period of time than the first one!
This is particularly important because most coins have a life span of 2-3 months now before they completely become irrelevant.
So Mods, please enforce the Premine "TIME" in number of DAYS to be posted from now on on all [ANN] posts
I been saying the exact same thing! Most of these new long term coins with 1+% premine is way to much considering the time it takes to collectively mine an amount equal to the premine. Actually the best premine beside 0% is imho 24-120 hours worth of normal reward blocks. It's not a huge amount but it is significant enough to pay dev's if the coin is successful. Although 0% is always best
This will keep traders safe from massive dumps and still earn the dev's a bit of
BTC if they are patient.
Even option 2 as stated in op is to much especially for a straight up clone.