large premine opens doors to large scams
I think best coins would be 0% premined - IMO!
as we have seen premined coins do not perform as well as those with zero premine. Look at ltc - it wouldn't be where it is if it was premined.
I understand that very well. But 0% premine would require an expense, such as hardware upgrades as difficulty rises and also increased power consumption costs. Also, those that want to be early adopters and either have real crappy systems or lack of any technical ability would be essentially excluded from the day1 coins. I doubt vey much that the crowd mining Bitcoins now, will still be doing it 12 months from now as it would just be ludicrously expensive and that would mean that the release of coins would slow down. Its great for the miners and others that are holding coin now, but unfair for those that get into Bitcoin 12 months from now, unless Bitcoin goes south big time.
A lot of people are saying, stop mining and just buy Bitcoin. Isnt this really what premining is all about? All the Bitcoins floating around, have been premined... correct?
dedicated hardware and more hashpower means a more secure investement. Myself is too lazy, stupid, slow to mine. Others that don't have the ability to mine should just buy it or work for it. The upside potential is still huge especially in some altcoins. I really have no idea what you are complaining about. 'Premine' means very often scam and/or bad distribution. Mining makes a far better distribution than preminegiveaways also because it happens over longer timeperiods.
