I want to invest in some color coins and after briefly skimming through all their specs/prices/community threads, this one intrigues me the most mainly because the price is so damn low and theremight be great potential. The 'no premine no IPO' sounds enticing but how are all the 380M coins already in circulation? Were they instamined? Is the original dev still with the team? No offense to this community but judging from his posts, seems like he wanted to create a quick pump and dump scheme to make a fast profit. Hope I am wrong. What are the future goals with development and implentation? Why should I invest in this coin over some of the other color coins?
There's actually fewer than 380M coins. That was more or less an estimate Bigman made when we hit POS/POW phase, because despite POW blocks being valid until block 20,000, it was 50/50 POW/POS from block 10,000 to 20,000, so only half the blocks were expected to be mined at the full value. It's worth noting that during the mining phase everyone thought there was going to be 500m coins, it didn't come out until later that there were far fewer.
Here are the only issues I can find:
Currently (as of writing) we are on block 76649 and there are 363,973,182 PC available. We're actually knocking out blocks about 2.5x faster than the quoted 1block/minute, which, while odd, isn't producing that many more coins. Comparing to the number of coins available now to the number there were at block 20,000 shows we're actually getting about 1.5% per year proof of stake.
There was a bit of an instamine where the first 500 blocks were mined in the first 13 minutes after launch by a handful of people. Looking through the addresses, it seems all those were dumped long ago.
When people started dumping and the dev didn't seem to be interested in doing anything with the coin (beyond occasionally taking part in things we were doing early on, something we encouraged. We wanted Bigman to stay on board, CryptoCayce gave him 500k pinkcoins as a thank you for creating the coin when he was getting more active again and helping.) We started a semi-community takeover, got a slick block explorer from fairglu (thanks again man!) and extremely generous faucet online (thanks for the help there Ghris and Altcoinfaucet!) and a solid OS X Wallet (Thanks W8!), but when Bigman flat out took the PinkCoin source offline last week and stopped responding to us we had to re-think things.
Since then we're on the verge of a full relaunch with a full fledged Breast Cancer Fundraiser, a new website, a new marketing campaign, a new everything. We've even got a multipool all lined up for us as soon as we can raise the 3m pinkcoins (We're almost halfway there in less than 24 hours!). I'm actually just waiting to hear back from Sonysasankan before putting on some finishing touches then coordinating the relaunch with him. Hence: this is the best time to invest!
Anyway, I hope I've answered all of your questions and alleviated some of your concerns. If you, or anyone else for that matter, has any questions please feel free to ask!
EDIT: I guess I'm not waiting for a message from Sonysasankan anymore!
