hmmmm....interesting. I understand the point of the premined coins, but why would anyone buy my DEL from me? and why should i mine it? are we just assuming value of DEL will go up because community will rally behind the idea? It is obviously a coin that would be of interest to no one but miners (well honestly I guess most coins are only of interest to miners).
What happens when the entire premine is gone? What usefulness does it have when it can't delete anymore coins? Guess I havent crunched the numbers, but it can't last forever.
Is there a set rate at which the premined coins are to be distributed, or at least a cap? Like setting the max amount of DEL to be distributed at 1,000,000 a week. Could be less but not more. Then we know how many coins to expect to be flowing into circulation in a given time frame, and ensures the project goes on for at least a few years.
Honestly, I think this coin would have been better off 100% premined. Only way to get it is by deleting your shitcoins. That way we know every DEL has served it's purpose, and community can show support for project by buying the DEL with BTC. If i place a buy order for DEL, how do I know that DEL actually deleted anything, or if its just a miner shitting on me?
The fact that you can mine it seems to defeat the purpose, and makes it likely it will just turn it into another pump and dump shitcoin that needs to be deleted.
Thats my biggest question really. Why not 100% premine? If any coin begs for a 100% premine, IMO, this is it.
I do like the project, just dont quite get it.
I suggested the idea of when receiving coins for Del, then taking those crapcoins, dumping them on the exchange, and re-buying up Del. Which would cause upward price pressure, while at the same time devaluing the crapcoin. Win win.
Provided this process is transparent, then it could make DeleteCoin a huge deal.
That's a much better approach I think. See the irony here is unless you are able to delete 100% of a given coin, it will just be used as a reason to pump that coin. "Hey guys, shitcoin #255 just got 20% of it's coins deleted. Now all the coins we hold are worth that much more!"
I don't think the coins that are being traded for DEL should just be instadumped either. Thats what the pumpers want, cheap coins. This coin needs to a team to monitor the different exchanges, and if one of these shitcoins even thinks about pumping, someone is right there to nip it in the bud and dump all over it. Make sure that's always looming overhead. "Pump that trash we shit all over you!!"
And then yes, when these coins are finally dumped, the BTC gained is used to buy up as much DEL at market rate to push the price higher and keep the project going indefinitely.
Now this I can get behind, even the only 50% premine makes sense in this regard. Miners will mine it knowing that it will be bought up by the DEL team, and the ample supply held by the devs assures plenty of shitcoins can be collected. It is not so much deleting the coins, as constantly assuring they will be kept in the dirt where they belong.
This is how it should be done! I think the dev team should get together a dozen or so volunteers to monitor the price movements of the shitcoins they hold, and alert them if it looks like a pump is in the works on one of the coins they are holding. I would love to take part in this.
I just quit my job and trade crypto full time so got nothing but time on my hands, if you revamp the coin in this manner in can be a huge success and I will pitch in anyway I can! I should start by trading the 20% of total SPICE I own for some DEL.