Hello all,
this is @altcoinguides on twitter, a member of the dev team ... I saw some of the comments on this thread and it seems like some of you have legitimate concerns about Astrocoin.
For those of you who have legitimate and honest questions, here is an honest answer to you from the dev team.
First of all, concerning the premine, our goal to begin with was 1% and 1% only. We had given someone else the job of compiling and he then gave the source code to some people who he trusted that we never gave our consent to...
We pre mined the 1% and then find out that someone else was mining and at a very fast rate. We could have waited 8 hours until the normal launch (allowing this unknown miner to gather more and more coins), but instead we decided to launch early, allowing the general public to get the coins instead of this unknown pre miner. We did announce it on the astrocoin twitter page ...
I was angry when i heard that we had to do that but it was necessary. I'm sorry for those people who were on time and missed the launch.
This early launch brought up another problem. Since there weren't many miners, some of the coins were pretty much instamined at a low difficulty. Our response to that was to ask the pool owner to confiscate the 1,015 or so coins and hand it over to us. We have placed those coins in cold storage and made that wallet public so you guys can check on it and make sure that the coins are not removed. THOSE COINS WILL NOT HIT AN EXCHANGE. They will be used for promotions and projects if it is even used at all. We will account for every last mASR, you can bet on that.
Now concerning the "decrease" in coin supply from 210k to 140k, I will openly and candidly admit that it was a mistake of one of our devs. There was NO change in coin number, the supply was always 140k but our main dev made a mistake in the calculations. You can laugh or joke about it if you want. Our team takes full responsibility for the inaccuracy, but that does not make ASR a scam.
Frankly, we know we haven't been at the top of our game. This is our first coin launch and so we made some mistakes like any normal dev would.
Now you can continue calling us a scam and turn your backs on ASR but you will miss out big. Our coin is not a shitcoin or a scam coin and we already have huge deals in place and deals in the process of being put in place for the implementation of ASR in major online services.
You can continue to whine and complain but I'm assuring you that you do not want to miss out.
We arent a scam and we will continue to work past our limits to make astrocoin a success and prove the skeptics wrong.
I want to personally thank all who have placed faith in ASR and I promise that our team will do our best to make this coin a success and a benefit the community.
Regards,
altcoinguides
personally I would feel better if you publicly destroyed the extra coins, back down to 1% premine. Having a 3% premine hurts the legitimacy of this coin; a high premine screams scam coin (not calling this one a scam, thats just public perception). destroy all but 1400 coins out of the 4115, and then I could feel comfortable investing in this coin again. Until then, the devs hold too much coins.
I think you should also start a faucet or giveaway to start distributing out the coins you hold, its way to high a percentage of what is currently in the wild.
Its also unclear how many coins the party that was mining before this was released received? Was it substantial? 10? 1000? It sounds like this is a group that at least one person on your team has contact with, can you get them back?
Lesson learned, don't ever reuse pool passwords and set the minimum auto payout (mine was set at 1.0).