It doesn't matter.. price will adjust. For 100 satoshi the premine is cool.
Also premine has nothing to do with decetralization.
It is supposed that you don't need trust when it comes to cryptocurency and blockchain.
When you add trust you add scam. Sooner or later.. Same think with goverments, banks and religion. Good luck to believers
That's sort of my point exactly. The 11 million coins are just a giant value destroyer and we can't trust that they go to any project of value. It would be ok if the dev fund was reasonable but with a few hundred thousand coins in existence and 90%+ premined in a 'fund' it's just not even worth paying attention to this project anymore.
I mean common, EXP is down 99% since it started trading with 395,193 mined and 11 million in a 'dapp fund' that can and likely will dilute the market 25% on a weekly basis. The market has spoken, and it absolutely amazing that the devs don't listen.
I find it sad, cause I do believe the devs are competent. Just apparently don't care about preserving any value in the project, or having anyone mine (mining Hash power is down something like 80% in 3 weeks)
What is obvious to me is that some group manipulated the market early on. Some "Mrpump" guy came in here and claimed it was his group or some whales connected to him. This created a very high starting price and a problem for us as that had to correct, and of course some will blame the devs when we had absolutely nothing to do with that, other than working on the project that some saw they could use to manipulate the price with. I had no idea that was the situation until someone literally came into this thread and said it was. The positive is that they saw value and this is long term project, and in my personal opinion at least, will have much more value in the future, the negative is that they created a situation where the price was too high at the start. Hindsight is 20/20 of course, and this is also why there were so many miners early on, but we still have plenty mining EXP now.
You are incorrect that the DAO fund will dilute the market like that, 1/220th of the DAO was used to cover some initial expenses, and pay the one bounty we owed for the branding/logo. We do have a large reserve for the DAO that will be released with smart contracts and with in wallet voting, but that won't happen for some time, and when it does it will be capped to a maximum of 1% per month, or .33% per core for a total of 1%. Smart contracts mean it will not be possible for any 25% market dilution, and if we were dishonest, obviously we would have sold more than 1/220th off, and anyone that thinks logically about this can see this is the truth. Sure, we could burn much of the DAO off and some would like that, and it would be great short term, and if there is a way for POS interest to fund the project with a smaller reserve this isn't out of the question later.
As we are doing some custom solutions they are taking more time, but we believe they will provide something unique rather than just cloning the same basic GUI wallet, or cloning the same basic block explorer. We have been in cryptos and very public for many years. We are not going anywhere and we have lots of connections in the world of cryptos. Once we add enough value in, I think people are likely to realize the project is severely underpriced, and then I think we will gain more attention. One of our core devs is a Dapp dev, we have tens of thousands of real followers between us on Social media, and we have time to work on the project and incentive to build it. We definitely care about preserving value, but not faking it, so whatever the market determines is just fine and we can build it up from there. As for hashing power, that will change as profitability changes, and if/when the profit goes up, more miners will surely mine more. Although we have plenty of hashing power to support the network just fine now.