What's the premine?
its up there in the text and it is 10%
I actually do hold some 9Nyan, so I do have a vested interest in its success. As long as there is transparency in the premine, then I will convert them to Credit.
we are working on transparancy
we hope that all people with this same issue can understand that we are under a heavy workload and are trying our best to keep the whole community happy. All miners are welcome to come get rich off of credits with us. Just point a miner at a working pool and have fun. Updates are coming and more pools will be added in due time.
All 9nyan (nyn) coins will be auto converted to credits when you load up the new wallet and follow instructions.
I'm willing to give anyone the benefit of the doubt, provided I can see that an effort is made to be transparent. You clearly have a capable development team. I'm sure you realise that the crypto community is becoming increasingly more savvy, and a lot more selective about the coins they mine. A lot of developers are realising their coins are worth more when they use them fairly.
I'll need to do some wallet backing up, as I've been mining the other Nyan recently. I'll be sure to convert my 9Nyan when I can.
Hi nalla, sorry for not getting back to you sooner and thank you for being understanding.
The truth of it all is that the original coin was transparent. The original devs were completely upfront and honest about the premine. However due to circumstances and forum douche'baggery, someone else decided to make a nyancoin at the same time. on purpose or not we will never know for sure, but what we do know is that he immediately took to slandering us to try and kill off the coin. Using our 10% premine as a target like so many other coins have had done to them before.
Alot of people dont realize that premines are not old. and are necessary. Even bitcoin was premined. guess how much. I cannot say for sure, but the popular number is somewhere around 10%, and just one person holds that. So is it that bad that we premined as well? you don't have to answer that, but its a question for anyone who reads.
Lets get the facts straight with this post. Premine is necessary for a coin to be able to live. Granted, a good coin may not even need a premine assuming that the devs dont want to be paid right away, and that the coin owner/maker doesn't want to be able to support his/her own coin right off the bat. But most coins are not so awesome that they don't require a premine. Most coins have devs that are not willing to wait. Most coins have communities that want free coin right away. or free in some way. Lets not forget the pool owners. They want coin as well. So how is that supposed to be accomplished without a premine. Well its not going to be given freely if we have to mine it ourselves after the release.... that would take forever, and is never going to be worth the time or trouble. The fact is that a premine is necessary for a coin to do well.
The problem with premine is simple. Too many greedy people out there who are willing to dump the whole load as soon as they can get a good deal for it. This is understandable, but wrong. This should never be done, and we haven't and won't. Sure, we could probably do it if we wanted to, when it hits the exchanges... if it does that is.
But then we would be no better than all the scam coins out before us and after us. We are making this coin to help the community, not to profit off of it, as tempting as that may seem.
The simple fact is that, any coin, no matter if they do have a premine or not, will not do well if it doesn't have happy devs or a happy community. The simple problem is that we have too many new people to the scene who don't actually know anything of what they are talking about. And to follow, a bunch of older members who do know what they are talking about, but lie so that their coins can do better than the newer coins. It is quite shameful really.
Now before anyone goes and says that i am brand new just by looking at how few posts i have, please do a bit more research first. I have been around on the forums for a long time now, but haven't been very active, as i was busy doing other things. I have been around on the coin scene as other aliases as well since the beginning of bitcoin. So i like to think i know what i am talking about to a certain degree. I wasn't on forums for the whole time though. For good reason too. most forums are filled with trolls and people looking out for their own interests. I am only here now, because as a dev, i sorta have to be.
Aside from that, lets get back to the transparency issue. transparency is what killed the last coin. Honestly, if we had been sneaky about it all like all the other coins, we probably would have done just fine. But because we were honest and transparent off the bat, we got conned hard by someone and have now remade the coin. We wish it didn't come to that, but thats all in the past now. All we want is to keep our coin going so that the people who mined it aren't left behind holding useless coins for their time. Thats just wrong to ditch the community like that. We hope that the wiser members like yourself can come to see this in time and hopefully teach the younger members over time. Until then, we will deal with the trolls properly. that is, without remorse. and the naysayers can say all they want, because 9/10 times, naysayers get proven to be dumb idiots time and time again.