As long as the coins are legitimately used for giveaways, bounties, and the like to get a coin going, I see no problem in a reasonable premine. I don't expect a dev to spend his free time designing, programming, and promoting their coin and on top of it sink his own BTC into it to promote it. Honestly, I don't even mind a dev premining and holding a reasonable amount of coins (what a reasonable amount is is up for debate though, and yes, I screwed up the math, it is a .16% premine) for himself if that means he is going to invest his time and energy into making the coin successful. Face it, if a dev stands to gain from the creation of his coin, we will get better and more innovative coins. This is simple free-market capitalism at play, same reason phizer invests billions into new and better pharmaceuticals, same reason GM invests billions into creating safer and more efficient cars, they sure as shit aren't doing it out of the kindness of their hearts. So why should a coin dev be looked at any differently? If we as a community decide a dev isn't allowed to profit off his creation, we will continue to be stuck with shitty copy-paste scrypt coins.
I don't understand the arrogance of some in the crypto community. "why can't we have a real innovative coin that I get to profit off of, but fuck the dev who spent his time and energy on it, if he profits a cent I will scream scam-coin, oh and I also expect him to sink his own BTC into it to promote it because pre-mine = scam coin" Meanwhile the miners sit back and bitch and mine and dump and cash out.
The whole point of bitcoin is an opensource money. This coin is literally a scrypt clone anyway so I have no idea why you're defending it. This coin takes no time to make and there are better ways to earn off of it than blatantly giving yourself a bajillion coins. there was this guy named satoshi nakamoto who made something really innovative and for a while, he was one of only a few people mining. For almost a year and a half his coins were practically worthless, but the incentive to change currency as a whole by improving bitcoin was enough to get bitcoins value and noticeabilitly up, inadvertently making him rich.
Saying GIL isn't a pump and dump and a way to just make money contradicts the fact it was made to make the dev money as a business endeavor. The fact he gave himself 300,000 coins makes this exceedingly obvious, especially when he picks and chooses who he gives his "bounty" coins to. To be honest, even if there wasn't a premine, it's worthless because there's no reason to choose this over any other coin.
This is a scam, plain and simple.
BTC was premined to fuck, so, I guess BTC is a scam coin too.
I don't pick and choose. I go into Cryptsy, I shout, first GILL address, gets free GIL!!! and I send it to them.
I created this coin. It took a lot of work. I paid, out of my pocket, for a VPS to have a fast, dedicated node. I paid, out of my own pocket, to have the windows client compiled for me, because I couldn't get it to compile. I paid a bounty of 20K, to have a pool setup, within hours of release. The pool was up and ready, before the block reward had increased to 1. Most coins release, and after a couple hours, you see threads, with people who have thousands of coins to sell. Noone had thousands of GIL. Block reward was 2, until a couple hours ago.
GIL is fast, 45 secoond block times, 3 confirmations. Difficulty adjusts both up and down, very quickly. It's very secure. The block reward right now, is random, between 10 and 50. That's a whole lot of randomness, which should help prevent it being attacked. I have a theory here. Lets say, someone wanted to launch a 51% attack, on GIL...So, they create their own offline version of the blockchain. Now, GIL's blockchain, is completely impossible to duplicate, due to the random block rewards. The attacker brings their version of the blockchain online, the network sees it, and, see's that the block rewards for their version, is completely different than what the other 50 clients on the network, are showing. So, in theory, and this is just a theory, mind you, the network rejects their version, and no fork is created.
Now, I created GIL, with a specific goal and purpose in mind. I clearly outlined this, and, asked for volunteers, and support from the community, to join my team, and make this happen. So far, I have had interest from 1 person, and the rest of this community, has done but bash it.
So, on that note, if you have an issue with the premine, fine, what ever, don't mine it. The other 35 MH/s that is pointed at it, please, continue to mine it, and have fun
More power to you...errr...Hashpower xD 
