3% Premine? GTFO. Why would i mine this vs. 0% premine on Asiacoin... so greedy.
Well supposed 400k is being given away to a charity organization that the dev must be a supporter of. Whether or not that happens and that 400k isn't just dumped onto an exchange is for you to judge.
At least he is being up front about the premine. Unlike that damn EON that tried to hide the 5% premine. So, if I must choose a new POS coin to mine today, I choose BITS.