I dont know if it sooths your reservations at all the fact that all premined coins have been placed in escrow wallets, locked until 2020. You may check and confirm it at the announcement post.
The value of Sumo will have increased manyfold by 2020 also. Therefore, having the premined coins locked in escrow is not a valid nor a logical proof or indication of "sincerity". Furthermore, who has control of the escrow in the first place?
In any case where's the logic in dumping all premined coins in 2020 when at that time the number of coins in circulation will be enormous as well as the capitalisation, hopefully. By then devs will be "filthy" - no pun intented - rich, all they have to do is convert partial amounts into fiat. Dumping the whole premine as soon as the coins are released would be like liquidating their entire business and assets in corporate terms.
How's lump-sum instant wealth? No need for logic to figure that one out. With that kind of money, why would the players be concerned at that point in time about the circulation and market cap of a crypto that they just dumped on and made a killing as a result? No logic there.
Edit: In other words, after winning a record Mega Lottery prize, do you really honestly care about what happens to the Lottery Commission after that?
What would make you happy then regarding the premine? What should they do with it?
The premine exists and that is a fact, what is your proposal to make investors more confident that this is not a dumping scheme?
Whether I'm happy...or sad...about the premine is irrelevant. I'm simply stating that it exist (like you stated) and the "temptation" that it presents. I really don't care what they do with it. I just hope that they mean well and sincere about their plans and goals and that they deliver the "goods" to make it successful for everybody's sake and welfare...and not enrichment of just a few.
Investors? Why would a supposedly decentralized platform wanna be mired with investors? Based on your posts so far, it seems that you're cheerleading the project which is giving me the impression that you're some sort of a spokesperson for it. I hope "investors" is not a Freudian slip on your part. I certainly did not mention "investors" in any of my posts on here.
We share the same hopes on that.
Well i am not a spokesperson for it, i've just happened to join the project at the first day and gradually got "attached" to it. Eventually, after talking with them, I came to think that devs are sincere and know what they're talking abt so I decided to stand up for Sumokoin, hope you are not critising me for this.
Why do you demonise the word "investors"? buying this coin or any coin or anything that you hope and/or predict that will get a later value is an investment and that makes you an "investor". By investors I do not mean sponsors that will centralise the project. Maybe we attach a different meaning to the term.
Anyway I am happy that people with solid view like yourself are interested in the project.