people are finally starting to notice what's going on here. big buy orders inc on c-cex. Most likely just people who realised that with 10 mil coins deleted and only 2 mil available for trading they can make quick profit.
What's the last-day rush like?
Tiny.
There is no way all 14,000,000 coins will be bought. What will happen to them all? Will they be redistributed to the initial buyers?
Our ICO will be hosted by C-CEX for one month or untill all checkcoins are sold. In case there are any coins left they will publicly be destroyed by C-CEX admins.
That sucks. With all the soon to be newly mined coins the price will drop really low. Best to mine this coin or buy it later on.
Since 85% of ICO coins will be destroyed it would be nice to see 85% of coins to be mined also destroyed.
I think you missed a part:
- First reward: 0 coins till block 8000
- Initial reward: 10 coins per block
Mining will be extremely hard, getting them now @ 1k is your best shot at making some profit.
Yeah there's money to be made.
But imagine how much money could be made if block reward was 1.5 coins!
I don't see why miners should get so many coins. They're going to receive 98% of all CKC.
You sound too greedy and you clearly don't understand the value of miners (but you could also be joking
). They secure the network and keep it alive. Without miners a POW coin is dead.
Besides the miners will not "get all the coins" because most of them sell their coins on exchanges to pay for mining rig costs and electricity.
The challenge lies in convincing the miners to mine Checkcoin. If the block reward is this low, the coin has to have some decent fiat value for miners to be interested.
At this moment there are no whales holding tremendous amounts of coins. I've followed the order book since the day CKC ICO was released and the highest buy order (that I am aware of) was 200k CKC or 2 BTC. So any market value attributed to CKC will be more "real" instead of pumped from the start. Once the PR starts I am sure more people will be interested, with this interest comes value. It will happen gradually though. When the value increases the miners will follow.
Having a multipool will speed up the process, but I am sure the devs have thought of that already.