[PRE-ANN][BS] BitSlap! PoW x11 ***Delayed Again LMAO

No IPO, that is a good news.

yup, but dev is too greedy. I'm out!
hmm I'll consider mining this coin if dev reduces the number of premine.

Why is everyone up in arms about a 0.5% premine?!?

Ok, so i understand there are three people working on this coin and maybe more? so that is about 0.16% max each. The dev group should be entitled to the premine if they put in the effort and create value in the coin, which will unavoidably require them to use their own assets, be it time, fiat, BTC, or the premine.

There is nothing wrong with dev's pre-mining. What one does have to take into consideration is the math of it all. 0.5% sounds like very little, but its misleading when one takes the block rewards and block times into consideration. a 1% premine on a 2 week pow/pos coin is one thing, a 0.5% pre-mine on a 15 year coin is something different altogether.

Say this coin launches successfully (no reason why it shouldn't). After a month of hashing, there will be a total of approximately 1million coins in circulation. Half those coins will belong to the dev through the premine. Which is fine if you trust the dev to sit on his premine and use it only for bounties and dropping a few coins on the exchanges to get some volume going. So at the end of the day with this particular coin the devs are asking us to trust them a lot more than we have to with other similar coins.

As with all coins, it's a judgement call. The unfortunate fact is, lately the altcoin game has engendered very little trust in devs due to the amount of one-off coins that failed because of greedy developers dumping that premine on the market as soon as it gives them a viable profit. Will the bitslap devs be different? No way to tell, but the size of the pre-mine leaves all the options in the hands of the dev's, and all the trust in the coin will have to come from the miners.

I have been involved in many coin launches and messaged the dev about this. The problem is the math in relation to the block rewards vs. premine. While .5% sounds small, it is HUGE. 500,000 coins in the devs hands while miners are getting a thousanth of a 22 coin block reward (when they hit a block), leaves miners getting like .0002 coins/day, even large farms would only get a few coins/day which means NOTHING next to a 500,000 pre-mine. SO the current premine/rewards ratio is very unfair and NOT worth mining at all. I have messaged the dev to offer my help and advice for a successful launch, but either the premine needs to go down by a factor of 100X or the block rewards need to go up by a factor of 100x, or by a factor of 50X for both, or the coin will fail, plain and simple.

Hm soudns reasonable I did never think it that way.
@DEV you pointed out, that you would be willing to discuss that point.
This would be a good moment to give a statement.