Be very weary of this project, the simple mention of the premine when a person asked a question on discord seen the i.p ban hammer come out for the 5th time, the only time I have seen anyone be so sensitive was Josh Garza and GAW, it makes you wonder when even the mere mention of the premine gets a ban. The question was asked if there was a premine? My answer was yes it was 33B of 55B total coins. The person asked if that was large and I stated yes and prehaps the devs should sell some for better distribution.
You see fairly mundane but apparently not the devs seem very nervous about even the slightest mention of the premine, I would say tread very carefully with this coin it is a sub sotoshi coin and probably will remain so.
Why do you keep coming back under different names and keep saying you are not bubba? And for the 385th time, it wasn't asking about the premine that got you banned. Get a life man.
You first got banned because you were cussing out the exchange because your transfers were not immediate and called both this project and the exchange a scam. I guess you never made a bitcoin transfer on Binance, that's not immediate neither.
I'm just going to refer you to this on Discord, which you apparently don't even read.
exobyte [NOTE]Today at 10:02 AM
Ok, now that I am at a desktop, I can type quicker. This initial section is for newcomers to the world of crypto. I am not a veteran, but I have seen my share of altcoins and burnt my hashing power on bad coins. Generally, new coins either are offered through an ICO (initial coin offering) or are launched allowing users to mine from day 1. Coins with ICO have a significant pre-mine and make a lot of money for the developers when the launch as the only way for people to get a hold is to buy them from the developers through an exchange. NoteBC did not have an ICO, this means that the pre-mine was not sold away for a profit on launch day.
Coins that are mineable from day 1 sometimes have a pre-mine, sometimes they don't. It really depends from developer to developer. There are some coins where each block also automatically pays a small percentage to the developer. Again, pre-mines are often used to help the developer pay for some of their time, effort and other infrastructure costs when the coin is listed on an exchange. Almost every altcoin I have seen have been listed on an exchange very close to launch date. NoteBC is the first coin I have seen that was listed on an exchange nearly 4 months after launch.
NoteBC had a large premine due to the following factors
1. The coin founder is not the developer. He spent actual money hiring a development team to setup the blockchain, develop mobile apps, create the initial wallets. I think it is reasonable to want to have the 9% of the 55B (max coin supply) as a way to offset his costs. The coin was not listed on day 1 at the exchange (typically where the interest is high and people buy on sentiment). I see this as not cashing out and making a quick buck.
2. The remaining big chunks of the premine are for funding subsequent development cycles. Again, one would not do that unless @Note Blockchain believed that the coin has potential and if a developer was offered X amount of NTBC, they would see the same potential and work in return for this currency. The other approach is to sell NTBC as BTC/ETH and pay the developer in that coin. Whichever method it is, this is clearly documented and the 10B for development is untouched and every mote spent from that will be accounted.
3. Another big part of the pre-mine is for Charity. Identifying the right charities and funding them through the value of NTBC is down the line. I don't think I can approach someone like Salvation Army and say, here take 1 million NTBC and it will help you feed the needy. This wallet is also untouched and will be transparent in every transaction.
The above sentiments are my own, but I have strong confidence that @Note Blockchain has similar intentions and thoughts. Finally, the reason users like @Mathew 12 are not the right fit for our community. Through his many aliases, bubba has been doing one thing - trying to dump his wallet as he had an issue when he tried to sell NTBC. The issue turned out to be a non-issue (bubba was just not patient enough and didn't understand what @Wheeler | Altmarkets.io Exchange was explaining). There is a saying from where I come from, it roughly translates to "Rocking the cradle with one hand, while pinching the baby with another". To me, bubba is trying to tip everyone and look like a project benefactor when all he wants to do is spread misinformation and diss the project. Everyone in the mod community (@Note Official @Noted and @Notable) have always been ready to answer questions and explain this project. I suggest everyone to look at the site (notebc.com), ask questions here to the mod community rather than going by the words of a disgruntled user.
Note BlockchainToday at 11:46 AM
@everyone Appreciate the explanation exo, and I know some people want a "pure" coin with no premine, but look around, other than BTC and a few very early projects of that kind, most of them are not viable in today's environment. If you don't want to be a part of the Note project and community because of the premine, I understand that and that's ok. If you want to run a coin a certain way, spend your own time and money and make your own project. I did. But if you are just going to keep spewing uninformed falsehoods, you'll get banned. It's not difficult.
