- Why the 2% premine?
We thought about it for a while and decided a premine was mandatory for the success of the coin. First it helps distribution as does the 2 POW phases, a fact that is widely criticized with POS cryptos featuring 1 distribution stage, 50% premine, ipos...
Then have a look at all the dying 0 premine coins trying in vain to raise community bounties (yes blackcoin is an exception and a amazing coin and we wish all the best for them).
I haven't read through this entire thread yet but hopefully somebody has called this dev on his BS. 2,005,000 coins were premined out of a total of 45,000,000 PoW coins. That is a 4.46% premine - claiming it is 2% is a blatant lie! Premined coins receive PoS just like all of the other coins so how in the hell does one get away with saying they only premined 2%? Coin after coin are running this same scam and somehow people keep falling for it. Guess what will happen to the price on MintPal after the dev dumps his massive share of the coins in circulation? For a little preview, go check out the "max" Yellowcoin charts on MintPal (they ran the exact same BS) - that's what will happen to the value. If the developer was honest and upfront it would be a different story but they're blatantly lying about a "2% premine." Right now, their premine represents 50% of all coins in existence and they will have unloaded all of them and be long gone before their share sees any significant erosion.
- When will the built-in block explorer be fully finished?
Main functions are here so currently it is not in progress. But expect a lot of changes in the new version coming out before the second POW phase.
Why launch the coin before this "big feature" is even finished? What was the rush? Why not complete the wallet and then launch it. The answer is obvious: The dev is hoping to have an opportunity to dump everything without having to do any actual work. I expect no changes in the new version - if there even is a new version, it will only be because the dev still hasn't had a chance to unload their premine. Smart money is that this coin will be officially dead within 14 days of trading on MintPal and anybody left holding will be pissed.
Take a look at my track record - I haven't been wrong yet. Buy into this piece of crap and you're taking a HUGE gamble that you can dump before the dev does. By supporting this coin, you're doing nothing more than lining the pockets of a lazy, greedy conman who has already lied to you.