In a sense it's like pyramid scheme. Not literally, but works the same way. You must be very early adopter to get lot of coins. After PoW mining is done, those that have lot of coins get much more PoS interest than those that have less coins. Early adopters get more coins, more interest. It's only fair to those that are in the game very early. The whole consept is flawed. You can of course try to buy yourself in, but why bother?
It's like any other new coin where the difficulty sky rocketed shortly after it's launch.
The early miners took a chance on a new coin, and they will be rewarded if they are patient. They risked their mining hours on a new coin that nobody knew what the future would hold. They deserve to be rewarded for that.
Miners who jump in after a coin is proven to be valuable and exchangeable for BTC, will not make out as well as the early adopters as the risk is much lower now that the coin is selling at a BTC value. If the coin ended up being worthless, the early adopters would have wasted their hashing power and lost money. Try to look at it from this point of view.
Also, to what I highlighted in red above, the rates at which this coin is selling in large amounts is very low at the moment,
imo. There are a large amount of miners who treat mining any coins purely as a business. They set what they expect their profit to be and that's where they sell their coins. They don't look further into the future than more than a few hours for the most part (
that's not their business model).
That is the only reason these coins are still selling very cheap. This coin is meant to be a POS coin, not POW. This is only the initial distribution, remember that. When POW stops, things will get very interesting.My prediction is that we'll see a minimum of 5000 satoshis per coin in the days / weeks ahead.
will rage here.
